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. www.robert-mckinley.com

Financial Mobility Summit Announces Speakers

The Financial Mobility Summit announced its slate of speakers for the inaugural FM Summit co-located with The Prepaid Press Expo, in its sixth successful year. The two-day FM Summit will explore the world of mobile payments convergence, where prepaid debit and gift cards, loyalty and marketing programs, alternative banking, gaming, top-up services and e-commerce meet on a mobile device. Summit sessions will address the evolution of the mobile wallet, mobile bank accounts, mobile marketing, mobile commerce, and more. Retailers, merchant acquirers, wireless resellers, agents, distributors, prepaid providers and financial services companies will learn how mobile payments can transform their businesses. Founding Summit partners include CHARGE Anywhere, InComm, JunoWallet and Wave Crest.

EcoCard Announces New Branding

ecoCard has been rebranded ecoPayz in a move that reflects the scope of its diverse range of payment solutions. Designed to enable the Group to differentiate its solutions and brands, which have established strong identities over the past decade, ecoCard has established itself as one of the leading end-to-end, account and card-based payment solutions to businesses and individuals worldwide, offering an instant, safe and fast means of transferring and managing your money globally. With the growth of its portfolio the newly rebranded Group – ecoPayz – has also introduced two new brands to its suite. ecoPayz Merchant Account and ecoPayz Business Account which will utilise its ecoAccount and ecoCard products. Using the ecoPayz Merchant Account retailers and merchants will be able to receive / send funds from customers across the globe.

Payment Alliance International Offers Processing to Gun Merchants

Payment Alliance International (PAI) electronic payment processing announced its ongoing commitment to merchants in the shooting sports industry after a number of financial institutions, merchant services providers and lenders have recently withdrawn from this segment. PAI embraces the shooting sports industry and is continually enhancing its PAI Shooting Sports Payments Package with new payment acceptance alternatives. The PAI Shooting Sports Payments Package has been endorsed by major industry associations, including the NRA Business Alliance and the National Shooting Sports Foundation (NSSF). PAI’s Shooting Sports Payments Package is an ongoing collaborative effort between PAI and shooting sports industry leaders, giving shooting sports merchants a secure and cost-effective way to conduct mobile payment processing using their own smartphones and tablets.

TSYS Completes NetSpend Acquisition

TSYS has completed its acquisition of NetSpend, now a wholly owned TSYS subsidiary and TSYS’ fourth operating segment focusing on direct to consumer products and services. NetSpend is a leading provider of general purpose reloadable (GPR) prepaid debit cards, PayCards and related financial services to the estimated 68 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. NetSpend previously operated as a publicly traded company. NetSpend common stock ceased trading on NASDAQ prior to the opening of trading on Monday, July 1, 2013, and will be delisted. Under the terms of the definitive merger agreement between the parties, NetSpend stockholders are entitled to receive $16.00 per share in cash for each share of NetSpend common stock that they hold.

Elavon Launches iPhone/iPad mPayment App

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Elavon launched its “MobileMerchant” for iPhone and iPad. Recognised as “Best Mobile Payments” by the Merchant Payments Ecosystem Awards 2013, “MobileMerchant” for iPhone and iPad is an innovative, secure and complete payment solution that effectively transforms mobile devices into payment terminals. Businesses are free to accept card payments quickly and securely…

SumUp Launches plug and play POS

SumUp, the company that empowers merchants to take debit and credit card payments with their smartphones, has announced the launch of the SumUp Point of Sale Box plug and play package that allows merchants to quickly set up a POS. The Point of Sale Box has been designed by SumUp with the specific needs of small businesses in mind and will give merchants such as cafes, fashion boutiques and beauty stores access to an affordable and easy to use point of sale system. It will include a pre-configured iPad, an iPad stand, a receipt printer, a cash drawer and a Wi-Fi router and can be up and running in less than 15 minutes. The monthly rental price for the box will be €69.95 which includes a 48h turnaround replacement guarantee on any component of the Box as well as a full 30 day money-back guarantee.

DBS Offers Visa P2P Payments

DBS and Visa have launched Visa Personal Payments (VPP) for quicker, more secure money sending from a bank account to any Visa cardholder around the world. To make a payment a user just needs the recipient’s name and their 16 digit Visa card number. The new service is accessible to all DBS/POSB customers in Singapore and is available through the bank’s iBanking and mBanking channels. DBS/POSB customers can now send money to over 1 billion eligible Visa cards globally, including funds transfers in near real-time (within minutes) to over 200 million Visa Debit, Visa Credit and Visa Prepaid cards. Transfers to a Visa debit card occur as a deposit to the underlying checking or savings account, transfers to an eligible Visa prepaid card occur as a top-up to the balance, and transfers to a Visa credit card will be applied to the outstanding balance with any surplus funds held in credit. For a limited period of time, customers can also enjoy low handling fees starting from S$2.50 and competitive foreign exchange rates.

Ingenico and Nets Launch Mpos Solution

Ingenico payment solutions entered into an agreement allowing Nets to launch new payment solutions for small merchants, including a mobile Point Of Sale (mPOS) solution, transforming smartphones and tablets into secure payment terminals. Nets and Ingenico will provide a fully operated solution from the secured card reader to the processing of the transaction. Nets will use the mobile commerce platform provider ROAM, an Ingenico subsidiary and leading mobile commerce platform provider, to implement the solution. Nets will offer a dedicated application and a secured pocket format card reader with Bluetooth connection to use with a smartphone or a tablet device.

DFC Global Settles with Regulator

DFC Global diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years announced its subsidiary Dealers’ Financial Services reached a settlement with the Consumer Financial Protection Bureau (“CFPB”) regarding certain aspects of its business. As previously disclosed, the CFPB conducted a review of the Military Installment Loans and Educational Services (“MILES”) program, an automobile finance program whereby the Company’s subsidiary, Dealers’ Financial Services, LLC, is a service provider for third party lenders. The CFPB cited violations by DFS of the Consumer Financial Protection Act for deceptively marketing the prices and scope of certain add-on products. Without admitting or denying any of the facts or conclusions of the review, DFS agreed to a consent order with the CFPB to amend its practices in line with recommendations made by the CFPB, and to provide financial redress in the form of a $3.3 million restitution fund to be distributed to past and current DFS customers. The Company established a reserve for the restitution fund in a previous quarter.

Financial Mobility Summit Announces Speakers

The Financial Mobility Summit announced its slate of speakers for the inaugural FM Summit. Held in Las Vegas August 13-14, co-located with The Prepaid Press Expo, the sixth annual Summit will explore the world of mobile payments convergence, where prepaid debit and gift cards, loyalty and marketing programs, alternative banking, gaming, top-up services and e-commerce meet on a mobile device. It will also address the evolution of the mobile wallet, mobile bank accounts, mobile marketing, mobile commerce, and more. Retailers, merchant acquirers, wireless resellers, agents, distributors, prepaid providers and financial services companies will learn how mobile payments can transform their businesses. Speakers will include the Giftango president and execs from CashStar, CHARGE Anywhere, Clutch, Corduro, CorFire, Discover, Gyft, Heartland Payment Systems, ISIS, JunoWallet, LevelUp, MetroPCS, Mocapay, Sprint/Boost Mobile, Sutherland Global Services, VeriFone, Vesta, Wipit, and more. Industry analysts from Mercator Advisory Group and Yankee Group will also be presenting.

Greater Nevada Credit Union Deploys Fiserv Processing

Fiserv announced that Greater Nevada Credit Union (Greater Nevada), based in Carson City, Nev., has selected the DNA account processing platform from Open Solutions, now part of Fiserv. Recognized by industry leading analysts for its best-in-class technology, user experience and breadth of functionality, DNA from Fiserv is the first relationship-centered core banking platform built for global collaboration. DNA is a 24/7 continuous, real-time platform that employs a relational data model designed around the person, not the transaction.