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.

MasterCard Among Top Companies for Diversity

MasterCard has been recognized as a top corporate leader for diversity by DiversityInc, having jumped 10 spots to fifth place of top 50 companies. MasterCard puts a premium on nurturing an inclusive culture where employees with wide-ranging backgrounds and qualities are highly motivated, engaged and connected. The company’s culture is built on the fundamental belief that by bringing together people with a variety of strengths, skills and experiences, it will be best able to meet the unique payment needs of those they serve. The survey in its 14th year ranks based on CEO Commitment; Human Capital; Corporate and Organizational Communications; and Supplier Diversity.

Entrepreneurs Gravitate Toward Entrepreneurs

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The American Express OPEN “Small Business Monitor” shows 70% of entrepreneurs purchase and source goods and services from other small businesses while 96% support their local communities. This support includes donating to local causes (70%) and participating in community projects (49%) while 83% shop at independently-owned businesses in their neighborhoods. Meanwhile,…

Virtual Piggy Finalist in Innotribe Startup Showcase

Virtual Piggy has been selected as a finalist at the SWIFT Innotribe Startup Showcase in the Innovator category for growth-stage start-ups in the London region. The company will present its technology alongside finalists from other regions in Dubai this September. Virtual Piggy competed against 14 other startups at the Innotribe Challenge Showcase in London last week to secure its place as a finalist for the $50,000 grand prize and continuous exposure to investors and financial institutions via the SWIFT global community. Having presented its payment solution to a panel of the financial industry’s leading angels, VC’s and decision makers, Virtual Piggy demonstrated how its financial management allows youth under 18 to make purchasing, saving and other money management decisions for themselves.

Cadence Bank Introduces Signature Debit Program

Cadence Bank’s Cadence Bank Debit Card, powered by Discover Debit, offers an enhanced cardholder experience with 24/7 concierge service, lowest purchase price guarantee and fraud protection, as well as a program in which local merchants can participate. For the bank, the new debit rewards program is designed to reduce costs, generate revenue and build customer loyalty. Cadence now offers Buzz Points™, promising a win-win-win solution for its customers, local merchants and the bank itself. More than a loyalty and rewards program, Buzz Points encourages a shop-local movement by uniting consumers, locally owned businesses and financial institutions to support local economies. When Local businesses join the program as Buzz Points Merchants, they have the opportunity to offer bonus points, eLoyalty cards and gift card rewards to Buzz Points users. Through a variety of turn-key, highly targeted marketing activities, including email campaigns, social media integration, and increased web and mobile presence, Buzz Points connects these merchants to the users. Buzz Points consumers increase their local spending with participating Buzz Merchants by 35 percent, and have three times more confidence in local merchants than Big Box competitors, both according to a study commissioned by Buzz Points.

PULSE and fisoc Partner, Provide Buzz Points Rewards

fisoc, provider of the Buzz Points loyalty program, joined PULSE to offer Buzz Points to the network’s participants. Letting financial institutions connect with consumers and merchants through rewards and social-media engagement. Buzz Points was aligned with Discover Debit, managed by PULSE, to offer rewards that encourage consumers to shop locally and support merchants in their communities. Participating cardholders earned reward points that could be redeemed for gift cards or donated to charitable causes. Buzz Points is now being made available to PULSE financial institutions in select markets.

CreditCall Publishes EMV Migration Guide

CreditCall published its guide ‘How an EMV-enabled Payment Gateway can support migration to Chip’ to help Integrators, VARs and Processors through the EMV technology shift. The toughest is the scale and cost of implementation, requiring virtually every single terminal to be modified or replaced, and banks to re-issue credit and debit cards. Organizations that deliver EMV-compliant solutions can achieve a major advantage against competitors that are slower to market. They will also enable the US payments industry to close the gap on fraud migrating from other regions. CreditCall releases the guide on the first day of Cartes America, the business event to promote smart technologies in the North American market, where the company is exhibiting its innovative EMV technology and payments solutions on stand 324.

NCR Launches Anti-Skimming Technology for Banks

NCR Corporation launched its “Skimming Protection Solution” (SPS) advanced anti-skimming technology to offer financial institutions a proactive way to address ATM skimming challenges. The NCR solution thwarts skimming activity, notifies a financial institution of an attack in real time, and adapts quickly to new types of attacks as they become increasingly sophisticated. Card skimming represents 80 percent of all attacks against the ATM, the #1 ATM crime globally.1 A Mercator report estimates U.S. card issuers’ total losses from credit- and debit-card fraud at $2.4 billion. NCR built SPS software to enable its random, multiple-jamming hardware module to block criminal “listening” devices from capturing card data and prohibit criminals from tampering or removing the original ATM bezel and helps promptly detect fraudulent devices. SPS also constantly reports on the health of the ATM.

ROAM CEO mPayments Innovations 2013 Conference Chair

The Mobile Payments Innovation conference at ETA’s 2013 Annual Meeting and Expo will host an all-star lineup of industry leaders and innovators on a variety of critical topics, including global payment trends, the latest mobile commerce innovations, mobile point of sale solutions and EMV standards. The ROAM mobile commerce platform provider, has been named the founding sponsor of this unprecedented event, and the company’s CEO Ken Paull has been selected as the conference chairperson. Paull will kick off the event by sharing his experiences, actionable strategies and insights on how organizations can leverage mobile payment technology to improve their business.

Chase Freedom Cardholders Tame Spending

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] According to new data from Chase and its “Freedom Lifestyle Index,” overall spending remained flat compared to the first quarter of 2012 and down nine percent from the previous quarter. Despite having increased credit card use gradually over the past 12 months- according to federal reports- Chase asserts consumers are demonstrating…

VeriFone Furnishes China PnR Managed POS Services

VeriFone Systems has been awarded a two-year contract to provide managed services for as many as 100,000 POS payment devices operated by ChinaPnR, a leader in China’s electronic payment industry. With this, ChinaPnR is outsourcing the management of increasingly complex payment devices to VeriFone so it can better focus on its core business. VeriFone is providing installation, training, and maintenance services for all existing payment devices and new installations over the course of the agreement. The agreement builds on VeriFone’s previous relationship providing operation and maintenance services for ChinaPnR’s air travel business units in 2012.

GlobalCollect and Vindicia Strengthen Partnership

GlobalCollect payment service provider, and Vindicia, enterprise-class subscription billing, strengthened their partnership by integrating their platforms even further. This will allow digital media companies to effectively bill and accept payments from customers using a wide variety of business models and payment methods and across the increasingly borderless world created by the Internet. The joint solution pairs Vindicia’s CashBox – a marketing, CRM and billing platform – with GlobalCollect’s global online payment service, which currently processes more than $14 billion per year in online transactions for more than 500 tier-1 e-commerce companies around the world. GlobalCollect’s payment services platform offers digital merchants the ability to instantly acquire international customers in more than 170 countries and lets them pay with more than 150 different payment methods and 170 currencies.