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.

Western Union Expands Mexican Presence

Western Union and Bancoppel announced a five-year agreement whereby Bancoppel will offer Western Union global money transfer services at its 1,000 locations. Western Union, Vigo and Orlandi Valuta services are offered in Mexico through a strategically combined network of Agent locations that include banks, national retail chains and independent locations. Western Union, in conjunction with its Orlandi Valuta and Vigo brands, connects consumers in Mexico to more than 510,000 Agent locations across 200 countries and territories.

Swift Establishes Bank Payment Obligation Rules, Tools

Swift financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries and territories, and the Banking Commission of the International Chamber of Commerce (ICC), announced new legal and technology standards for Bank Payment Obligation (BPO) are now available. The BPO is a new payment term that allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and enables banks to offer flexible risk mitigation and enhanced financing services to their corporate customers. The BPO rules will establish uniform practices for BPO market adoption. Together with the ISO 20022 messaging standards, these rules provide an industry wide foundation for banks to develop risk and financing services aligned with today’s technology.

Vantiv to Oversee Anheuser-Busch FCU Payment Processing

Vantiv payment processing services and related technology solutions for merchants and financial institutions announced Anheuser-Busch Employees’ Credit Union (ABECU) enlisted its debit and credit processing services under a multi-year agreement. Vantiv makes debit and credit card issuing easy with its technology and account management tools. Allowing financial institutions to focus on expanding customer relationships and the growth of their portfolios, Vantiv also helps maximize cardholder touch points with its state-of-the-art mobile and online account access, and customized cards. The company’s 24-hour contact center provides around the clock support for cardholders who have questions or need assistance.

AmEx Posts 1Q/13 Revenue Demonstrating Growing Cardmember Use

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express posted 1Q/13 net income of $1.3 billion, up 2% from the year ago figure, while consolidated total revenues net of interest expense were $7.9 billion, up 4% from the $7.6 billion figure a year ago. With this, U.S. Card Services posted 1Q/13 net income of $804 million, up 7%…

China CITIC bank and MasterCard Ink MOU

China CITIC Bank and MasterCard have signed a Memorandum of Understanding (MOU) for strategic cooperation in the virtual payments space within and outside China. The two parties aim to jointly develop and promote innovative products and services including Quick Response” (QR) code services, and collaborate to provide a safe and efficient payment experience for domestic and overseas cardholders and merchants. China CITIC Bank and MasterCard will leverage their core competencies and cooperate on innovations including virtual card payment technology, product development, acceptance and risk management. This alliance will enhance consumers’ e-commerce experience and provide new and innovative payment services to domestic and overseas China CITIC Bank cardholders. Tim Murphy, Chief Product Officer of MasterCard, and Zhu Xianghuang, President of China CITIC Bank attended the signing ceremony of this MOU. This collaboration with MasterCard in the virtual payments space is yet another important step for China CITIC Bank.

PayLane Registered as Visa Europe Merchant online payments has been registered on Visa Europe Merchant Agents List. Visa decreased doubts and help control the risk in online payments with its Merchant Agents List. The Merchant Agent list is a catalogue of different companies that provide payment-related services such as Payment Gateways, Payment Service Providers, Internet Payment Service Providers etc. In order to be listed in the catalogue, the company has to be compliant with PCI DSS and approved by Visa as a as a company that provides full protection to their customers.

Net Element Acquires Unified Payments Services

Net Elemen electronic commerce and mobile payment processing completed the acquisition of Unified Payments transaction processing services and payment-enabling technologies. Unified Payments is a socially responsible provider of payment services across the United States, processing in excess of $10 billion in volume between 2010-2013. The acquisition positions and diversifies Net Element International’s mobile payments business and creates a new platform division “TOT Group, Inc.”, with focus on global mobile payments and transaction processing markets. Net Element International has already initiated the integration and localization of Unified Payments’ products and services in Russia and other emerging markets and will now reap the benefits of Unified Payments’ market penetration in the U.S. The completion of the Unified Payments acquisition positions Net Element International’s TOT Group to maximize the benefits of a significant growth market opportunity.

Fiserv Payments Network Changes Name, Logo

Fiserv inancial services technology announced its debit payments network, formerly known as ACCEL/Exchange, is now just “Accel.” Reflecting the network’s ability to accelerate funds transfers across retail, biller and social person-to-person payments, and positions the network within the Fiserv portfolio of payments capabilities to create the world’s leading real-time network, the name change is appropriate. Accel supplies infrastructure for financial institutions to give cardholders around-the-clock access to their demand deposit account funds at ATMs and the point of sale, with 55 million debit cardholders, 3,100 financial institutions, 340,000 ATMs and more than 3 million merchant locations.

Mercury Exec Partakes in ETA mPayments Committee

Mercury Payments Systems announced Nick Nayfack, director of product at Mercury, accepted a seat on the Electronic Transactions Association’s (ETA) Mobile Payments Committee. Here he will develop best practices in mobile commerce with industry peers to enable merchants and consumers to navigate technological “ease-of-use.” Mercury designs and implements a “one-stop shop” experience for payment acceptance by retail and hospitality merchants by offering a multitude of new and traditional payment products, software and services all focused on small business solutions for “Main Street.”

Jack Henry Expands Core Platform Offering

The Jack Henry Banking division announced two Tennessee-based banks, Volunteer Federal Savings Bank and Peoples Bank of the South, selected its “CIF 20/20” core processing platform to provide enterprise-wide automation. THE “CIF 20/20” processor is automating approximately 700 growth-focused, service-oriented banks by integrating parameter-driven core functionality with more than 120 complementary products and services. This market presence makes “CIF 20/20” one of the most widely installed core banking systems in the U.S. Its flexible architecture and relational database, ability to support both in-house and outsourced operating environments, and scalable hardware platform maximize operating flexibility and seamlessly support banks’ near- and long-term technology requirements.