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

EPC Calls on Consultation for Sepa Card Standardization

The European Payments Council (EPC) and the Cards Stakeholders Group (CSG) published version 6.5 of the Single Euro Payments Area (SEPA) Cards Standardisation Volume for a six-week public consultation. This document defines a standard set of requirements to ensure an interoperable and scalable card and terminal infrastructure across SEPA, based on open international card standards. All market participants and interested parties are invited to provide feedback by 14 July 2013. The CSG is a multi-stakeholder body representing retailers, vendors, processors, card schemes and the EPC. Created in 2009, the CSG develops and maintains the SEPA Cards Standardisation Volume, and focuses on a cards standardisation programme that will create a better, safer, more cost efficient and functionally richer card services environment, whatever the card product or scheme may be. The CSG improved usability and allows for greater flexibility regarding the maintenance of the documentation.

DFC Global Acquires Pawn Store Chain

DFC Global financial services company for the unbanked and under-banked acquired Express Credit pawn loan provider. Express Credit Amanet, founded in 1998, operates a chain of 32 stores predominantly in the city of Iasi, Romania. In concert with DFC Global’s European pawn expansion strategy, the acquired stores primarily offer pawn lending on gold jewelry, small-size high-value electronics and automobiles, in addition to gold buying services. This acquisition also represents the Company’s initial foray into pawn lending on items outside of jewelry and fine watches. The trailing twelve months revenue for the acquired stores was approximately $9.0 million at the closing of the transaction and the acquisition is accretive to earnings.

i-Free Introduces its NFC wallet Platform

I-Free launched its full-featured NFC-wallet in CIS embedded in smartphones and TSM (TrustedServiceManager) platform providing the advantages of NFC-technology including remote issue and protected of download MobileMasterCard PayPass cards. Both the NFC-wallet and TSM (Trusted Service Manager) platform were developed by i-Free for mobile contactless technology. Three services are available for NFC-wallet users: MobileMasterCard PayPass payment card of Tinkoff Credit Systems bank, transport cards from some Russian regional centers and geolocation-based coupon service. Nowadays these services are available only for a limited number of users, although we are preparing them for mass commercial use. A package solution including NFC -wallet and TSM platform significantly extends smartphone’s features, thus converting the devices into universal storages of any modern smart-cards and respective applications.

WEX to Provide Globalia Virtual Payments

WEX corporate payment solutions signed an agreement with Globalia air, hotel and travel related services, to provide the WEX Travel solution. The agreement emphasizes WEX’s commitment to service customers across Europe with its virtual payment technology. The WEX Travel solution allows Globalia to reduce costs, increase efficiencies, and improve security with its pioneering single use virtual card technology. The WEX Travel product provides businesses with the ability to use single use virtual cards for travel booking; reduce costs and increase efficiency; streamline payment reconciliation; earn revenue share on processed payments; and integrate with existing systems to support high volume operational environments.

Discover JCB’s Preferred Choice for Global ATM Transactions

Discover Financial Services, parent company of PULSE Network LLC, announced that U.S. ATM acquirers will soon have the ability to route JCB transactions over the PULSE Network, as PULSE becomes JCB’s preferred choice for global ATM transactions. ATMs in PULSE’s U.S. network will be able to accept JCB transactions beginning in August 2013. The agreement is expected to increase volume on the ATM network for both JCB and Discover, which currently has more than 415,000 U.S. ATMs and more than 1 million ATM and cash access locations around the globe.

Gemalto Introduces Micro-banking Technology

Gemalto is providing its smart card based solution to Dipon Consultancy Services Limited (DCSL) for their financial inclusion project. DCSL has deployed DG-ePay (Dipon Group-ePay) Service Points at major public places throughout the country. End users can enroll themselves and open an account at any of the DG-ePay Service Points. The Gemalto smart cards contain an embedded software application that securely stores the holder’s facial image and fingerprint data captured upon enrollment. End user transactions are validated using biometric authentication, providing a superior level of convenience and security to all, including illiterate users. The Gemalto solution facilitates daily life financial services, such as account opening, deposit, withdrawal, transfer, loan repayment and remittances. DCSL has already delivered 200,000 cards to end users.

TSYS Inks Extended Payments Agreement Partner

TSYS announced that it has signed a long-term payments agreement with KeyBank to provide payment processing for the bank’s consumer credit card portfolio. KeyBank made the strategic decision to bolster its payments business last year and begin self-issuing credit cards. At that time, Key purchased a $725 million Key-branded credit card portfolio from Elan Financial Services. KeyBank has selected TSYS’ TS2 platform to convert the portfolio and issue new cards going forward. In addition, KeyBank has contracted with TSYS to provide fraud prevention and risk management services to bank clients. TSYS’ past success with KeyBank involved a smaller portfolio acquisition conversion to the TSYS Program Solutions (TPS) platform in 2012.

ACI Worldwide Announces New Banking Services Client

ACI Worldwide announced Desert Schools Federal Credit Union ($3.1 billion in assets) selected its online banking and bill payment services to enhance its technology services to over 321,000 members. The institution selected ACI’s Architect Banking for its flexibility and configurability for delivering online and mobile banking capabilities. By utilizing the Software Developers Kit (SDK), DSFCU will have the tools needed to grow its online banking application to meet the ever-changing needs of its member base, all while providing a user experience that is highly intuitive and personalized. ACI’s Electronic Biller Directory and proprietary Real-time Digital Scanline technology maximizes payment accuracy for both DSFCU and its members, resulting in faster payment delivery and fewer payment errors.

Payoneer Secures E. Union E-Money License

Payoneer global payments company announced its wholly-owned subsidiary Payoneer EU has secured an Electronic Money license in Europe and expanded its management team to support the company’s rapid global growth. Oded Zehavi has also joined as Chief Revenue Officer. Zehavi is responsible for leading Payoneer’s sales, marketing and product activities globally. He previously served as the business development director for PayPal, where he led the inception of the PayPal services in the Middle East and Africa, and overall business growth within the region. Howard Gibbs has joined Payoneer as the Managing Director of Payoneer EU. Howard brings substantial experience in financial services with past leadership roles at MBNA, and other card and payments companies.

TSYS Renews Nationwide Payments Agreement

TSYS renewed its payments agreement with Nationwide Building Society, a major provider of credit cards to 15 million members, for undisclosed terms. With this, TSYS will continue to process Nationwide’s UK consumer card portfolio, as well as supporting all of its contact centre operations. Nationwide has utilised TSYS’ outsourced payments processing solution, TS2, since 2008. Nationwide was awarded ‘Best Achievement in Customer Service’ at The Card & Payments Awards 2013 for their ‘Listening to Customers Campaign,’ which was undertaken with the assistance of TSYS Managed Services EMEA.

Cardlytics Wins First Patent

United States Patent and Trademark Office has issued the industry’s first-ever patent for Cardlytics Card-Linked Marketing. Covering its proprietary, unique method of merging, or injected, targeted marketing offers within a transaction display of an online portal, U.S. Patent # 8,438,061 was awarded to Cardlytics’ CEO. Allowing Cardlytics to deliver millions of targeted marketing offers through its network of nearly 400 banks including Bank of America, PNC and Regions Bank. Cardlytics has a total of 5 patent applications related to its work in Card-Linked Marketing.