Safetypay and GlobalCollect announced their global partnership agreement. The partnership extends the reach of both organizations in markets around the world, while providing the companies the ability to provide their customers a more secure and seamless payment option. SafetyPay will allow merchants to offer goods and services to customers who do not have internationally accepted credit cards; don’t want to use credit cards and those without credit cards with sufficient funds in their bank accounts.
Mutual of Omaha Bank is expanding its portfolio of solutions for local merchants and small businesses with a mobile solution for processing payments through First Data. The Bank will deploy “Pogo>” mobile payment solution that enables credit, signature debit and cash acceptance anywhere in the U.S. the merchant has wireless coverage. The “Pogo>” solution allows merchants to convert their Web-enabled smartphones or tablets into POS devices through the use of a mobile application and a secure mobile card reader. The solution leverages First Data’s proven technology, security, infrastructure and broad distribution channel and will complement Mutual of Omaha Bank’s existing portfolio of merchant and small business banking solutions.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor dropped by one point in May to 92.6, as consumers reported higher confidence in the economy, but lower confidence in their personal finances. While overall spending intentions stayed the same, consumers were more likely to increase their discretionary spending in areas such as home improvements, personal…
A new peer to peer Foreign Exchange Service and International Payments Platform was announced. Midpoint.com enables businesses and individuals to save money by using a currency exchange matching service, providing industry low rates and a flat, transparent fee structure. For example, a business exchanging £5,000 into Euros each week could typically experience savings of more than 2% – a £100 saving per transaction. This activity level would offer customers around £5,000 a year saving over traditional currency exchange methods. Midpoint’s patented technology was the first to ‘match’ foreign exchange requirements for individuals and companies in Euros, US Dollars and Sterling By directly matching businesses and individuals with opposite currency needs, Midpoint is able to eliminate the ‘spread’ or ‘margin’ component from all transactions. At the time of the match both parties receive the same exchange rate – the mid point – the real time Interbank buy and sell rate.
Apply Financial launched their Validate service online at applyfinancial.co.uk. The new Validate service is designed to provide high-quality global payments validation, enrichment and account conversion in combination with data that is updated daily. It is easily accessible either through an online user portal or API integration into payments, ERP and accounting systems. Validate is an automated, cloud-based service that allows any size financial institution, business, or individual that send international payments to check and enrich client payment data before it is communicated to, or transmitted by the bank. Not only does this minimize errors, but Validate is also much more cost-efficient than traditional data vendors, manual cross-checking or other directories.
MasterCard Canada and subsidiary Access Prepaid Worldwide announced the launch of Cash Passport Prepaid MasterCard Currency Card. It allows users to pre-load travel money for safe and convenient use at millions of ATMs, shops and restaurants worldwide. For travellers, prepaid cards are a more secure alternative to the once-popular Travellers Cheque or large sums of cash. The card is secured with the latest chip and PIN technology and features straightforward pricing and up-front foreign exchange . Users can also use the reloadable card to withdraw local currency at millions of ATMs worldwide and use it wherever MasterCard is accepted.
Green Dot Corporation’s “GoBank” (GDOT) is open for general availability, no longer an invite-only service for beta members. A GoBank account is an FDIC-insured bank account that is specially built for the smartphone generation”designed from the ground up to be opened and used on a mobile device. Now anyone can sign up for GoBank on the app for iPhone or iPod Touch (available for download from the Apple App Store) or at GoBank.com (by clicking or tapping ‘JOIN’). GoBank has formed a national partnership with MetroPCS to distribute the GoBank mobile application across MetroPCS’s compatible Android device portfolio. GoBank will also be featured as the official financial sponsor on the upcoming 12th season of Lifetime’s “Project Runway,” premi “Project Runway,” premiering July 18. Throughout the season, contestants will utilize GoBank accounts showcasing the slide for balance feature, Fortune Teller, debit cards and person-to-person money transfers.
Fiserv financial services technology solutions announced Jardon Bouska, president, Biller Solutions, Fiserv will deliver the keynote address at NACHA – The Electronic Payments Association’s Council for Electronic Billing and Payment (CEBP) Meeting in Chicago. This will bring together industry members to share ideas and collaborate in an open forum while discussing developments and trends in electronic billing and electronic payments. Bouska will offer his vision of the future of digital billing and payments, sharing new consumer and industry data from Fiserv that is predictive of industry direction. He will discuss changes that will impact billing organizations, financial institutions and consumers in a rapidly evolving payments landscape and outline how innovations, such as wearable technology, will help create a new era in paperless, real-time mobile bill presentment and payment.
The Prepaid Press Expo announced its slate of speakers for “The Prepaid Press Expo ’13” to be held at in Las Vegas August 12-13. Starting with a Keynote Address by Eric Dumois, Sr. Product Manager, Financial Services, MetroPCS. Dumois manages and executes the MetroPCS Financial Services portfolio, which includes general purpose reloadable products, mobile banking solutions and mobile commerce strategy. He has successfully created and launched numerous prepaid card products including personal use and gift cards, international long distance programs, and custom prepaid programs. Other sessions will include speakers from a diverse group of companies that bring first-hand expertise and knowledge of the prepaid market, including AccountNow, American Express, CARD.com, InComm, iSend, NetworkIP, Nielsen, Plastyc, Transaction Wireless, and many other prepaid providers and professionals.
WorldPay payment processing, risk management and alternative payments extended its relationship with Kobo, a global leader in eReading, to implement RiskGuardian, a high specification risk management solution. Kobo, which had already successfully implemented WorldPay’s Payment Gateway and acquiring services, required an expert partner to ensure they were protected against fraudulent transactions and resulting chargebacks as the company continues to expand into the US market. Kobo offers more than 3.5- million eBooks, magazines and newspapers to millions of Readers in 190 countries. The company recently announced that it has grown its user base to 14.5-million, with 15% of its Q1 growth coming from the US. The company needed to ensure its transactions were secure.
Green Dot Corporation announced the United States District Court for the Central District of California dismissed with prejudice the federal securities class action that had been filed against the company, Steven W. Streit and John L. Keatley in July 2012. On May 2, 2013, the Court granted a motion to dismiss all of the claims asserted in that action, and the plaintiffs subsequently agreed to voluntarily dismiss the case with prejudice rather than amend their complaint. No payments were made to the plaintiffs in connection with the dismissal.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs saw the most change in June since January, dropping .04% to 14.95% after averaging a .04% change over the past year. This offers continued momentum to the ebbing 2013 APR credit card averages. Compared to 1H/12, when the monthly average dropped from 14.95%-14.87% from January to June,…