Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups.

Paydiant Announces $15mm Funding

Paydiant cloud-based mobile wallet and cardless ATM access closed a $15 million round of funding from North Bridge Venture Partners, General Catalyst Partners, Stage 1 Ventures and two of Paydiant’s customers. Paydiant’s platform is currently deployed in partnership with prominent card-issuing banks, retailers, restaurants, merchant processors, debit/ATM networks and POS providers. The company was recently awarded a comprehensive mobile wallet patent for conducting payments in store, online and for pay-at-the-table transactions. With Paydiant, retailers and banks can begin signing up consumers today for mobile payments for multiple smartphone operating systems and smartphone to POS interfaces like 2D codes and NFC.

ACI Worldwide Makes Call for Excellence Awards Submission

ACI Worldwide payment systems made an open call for submissions to the 2014 ACI Excellence Awards. Now in its fifth year, the Excellence Awards recognize banks, processors and retailers for new, innovative and transformative implementations of ACI solutions. Selected by a panel of leading industry influences, this year’s categories include: Enterprise Payments; Retail Payments; Wholesale Payments; Mobile Banking and Payments; Electronic Bill Presentment and Payment; Online Banking; Merchant Retail; Payments Fraud Management; Product and Service Innovation; Customer Experience and Operational Excellence.

Wildfire CU Deploys Fiserv Processing

Fiserv announced Wildfire Credit Union selected its “DNA” account processing platform and a comprehensive set of integrated solutions from Fiserv to better serve its more than 37,000 members. The “DNA” platform from Fiserv is the first open, person-centric core banking platform built for global collaboration. DNA was completely rewritten using C# within the .Net framework for a state-of-the-art core platform that banks and credit unions can rely on for the long-term. With DNA, clients benefit from 24/7 real-time processing, robust retail, mortgage and commercial banking capabilities and a 360 degree view of retail and business relationships. Wildfire will also implement “Nautilus” enterprise content management, Prologue™ financial accounting, ConvergeIT® interactive voice response, AML Manager anti-money laundering and the CRM/BI suite for DNA.

ClearXchange Names New CEO

clearXchange, a joint venture among Bank of America, Wells Fargo and JPMorgan Chase, named Michael Kennedy CEO. Kennedy co-founded and served as chairman of clearXchange while working as executive vice president and head of Innovation and Payments Strategy for Wells Fargo Bank. As CEO, Kennedy will devote 100 percent of his time to leading clearXchange. He will be based in San Francisco. As executive vice president and head of Wells Fargo’s Innovation and Payments Strategy, Kennedy drove mobile and emerging payments, strategy across all payment products, and technology research and development. Prior to this role, Kennedy led strategy and implementation for Wells Fargo’s Wealth Management group, which he joined in 2004. He earned his Bachelor of Science with distinction and Masters of Science degrees in Industrial Engineering from Stanford University and his MBA with distinction from Harvard Business School.

First Data Releases August SpendTrend

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data Corporation released its First Data SpendTrend analysis for August, 2013 compared to August, 2012. Tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, First Data found August dollar volume growth was 7.3%, a slowdown compared to July’s 7.7%…

Swift Publishes Whitepaper on African Payments

SWIFT published a white paper, “Africa Payments: Insights into African transaction flows. Based on analysis of SWIFT traffic, it offers unique insights into transaction flows between African countries, and between Africa and other regions. The paper identifies environmental factors that may drive change in cross-border transaction flows, which could reshape pan-African banking, lead to shifts in currency usage and create opportunities for multi-currency clearing in Africa. SWIFT data highlights that ‘financial’ flows do not reflect ‘commercial’ flows, demonstrating a disconnect between payment routes and the movement of goods and services, particularly between Africa and Asia. This means that, while Asia Pacific countries are the fastest growing trading partners for most African countries, representing 22% of all commercial flows from Africa, only 5% of financial flows are sent directly to banks in the Asia Pacific region.

JCB Partners Caixa on National Expansion

JCB International and Caixa Economica Federal (“CAIXA”) signed an agreement for the issuing of JCB cards in Brazil. Starting with credit cards for a total of 5 million accounts in the next 3 years, CAIXA plans to add debit and prepaid JCB brand cards in the near future. JCB is a global payment brand with over 24 million merchants and 80 million cardmembers around the world. In Brazil, with a partnership with Cielo, Brazil’s largest credit card acquirer, JCB card is now accepted at all of the more than 1.2 million Cielo merchants, representing almost every credit card accepting merchant in Brazil.

Trub and Sequent Offer OTA NFC Card Provisioning

Sequent Software and Trüb AG announced to have entered a technology partnership in which Trüb will use Sequent’s mobile payments platform to provide over-the-air provisioning and lifecycle-management services for EMV-compliant bank cards, customer loyalty cards, access cards and transit cards on secure elements used in NFC mobile devices. For example, using the Trüb SP-TSM service, bank card issuers and other service providers can instantly provision their cards into customers’ NFC mobile devices like Samsung Galaxy S4 operating on the Swisscom network. Using Sequent’s platform, the Trüb SP-TSM service offers a secure, over-the-air (OTA) channel for a broad set of card issuers to provision and manage the lifecycle of credit, prepaid, loyalty, reward, access, transit and other cards on the secure elements of mobile devices.

Ingenico integrates Tagattitude on mMoney

Ingenico mobile money software vendor will now deliver mobile money solutions in Africa to address the specific mobile money demands of the continent with the objective to establish secured electronic transaction infrastructure which will drive financial inclusion in Africa. Tagattitude’s mobile money platform, TagPay, supports a full range of financial services such as account management, money transfer, retail transactions, airtime, payroll services, e-commerce, bill payments, and gift vouchers. Combining Ingenico’s leading experience in the payment industry with Tagattitude’s complete and adaptable mobile money platform, it is now possible for banks, telcos, Payment Service Providers, or other financial institutions to transform any customer’s phone into a secure transaction tool.

PayPal Beacon To Reinvent In-store Shopping

PayPal announces PayPal Beacon, allowing merchants to accept payment at many of their favorite stores completely hands-free. The PayPal “Beacon” will make the payment experience get out of the way. It will leverage Bluetooth Low Energy; a breakthrough technology that enables connected devices to communicate with each other seamlessly, while keeping the energy consumption at a very low level. By using BLE, transactions can take place without having to open up an app, without GPS being turned on, and even without a phone signal. Consumers will have full control of stores they will want to check in to, those they will want to get prompted to confirm payment for, and stores they will want to enable a complete hands-free experience for. We will be opening up our mobile in-store API soon for 100 developers to imagine ways to make the shopping experience better, from being able to self-checkout on your mobile phone to automatically placing a customer’s usual order as soon as they walk through the door.