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.

Evolution1 Changes Product Identity

Evolution1 electronic payment, on-premise and cloud computing healthcare solution announced its products, solutions, and services under six brands within one product suite. The product suite enables the communities Evolution1 serves to quickly identify Evolution1’s products, solutions, and services and determine which one best meets their needs. The suite includes 1Cloud by Evolution1 healthcare financial services platform; 1Direct by Evolution1 on-premise healthcare financial services; 1Pay by Evolution1 suite of payment solutions, led by the innovative Benny Prepaid Benefits Card; 1Mobile by Evolution1 for healthcare access for consumers on the go; 1Plan by Evolution1 contribution solution; and 1View by Evolution1 self-service dashboard for healthcare management.

Cummins Allison Announces Currency and Check Processing Solutions

The two-in-one JetScan iFX from Cummins Allison accommodates branch capture as complete deposits; checks, currency and transaction-related documents can be processed in the back counter or at the teller line in minutes. The JetScan iFX enables tellers and supervisors to image checks more than twice as fast as other scanners without sacrificing image quality, on the same machine that is also the fastest currency scanner in the industry. It also increases productivity by processing 1,600 bills per minute, even in the highest volume areas, such as count rooms. With quicker currency scanning speeds, staff tasks become faster, while accuracy remains high as the JetScan iFX ensures incorrect notes are instantly identified and counterfeit notes detected, where other currency scanning equipment might miss. This as IDC Insights expects North American technology spending to increase to $57 billion in 2013 on investment in currency and check processing solutions and branch/teller capture is projected to see an estimated 98% adoption rate of branch and/or teller capture solutions over the next two years.

MPR Improves 5 Mos Running, Hits Highest Rate Ever

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fitch’s February Monthly Payment Rate(MPR) Index continues to sit above the 20% mark, currently at 24.83%. Up over 10% since the year ago period, MPR has consistently remained well above the historical average of 16.55% since 2009. MPR, which measures how quickly cardholders are paying down outstanding balances, is breaking the…

BPC Branches Out with Visa payWave

BPC Banking Technologies Open System e-payment solutions launched Visa payWave products in Ukraine. Powered by BPC’s SmartVista, the Bank’s customers can enjoy the speed and convenience of contactless payments at POS devices. Low value transactions can be completed in less than a second, without the need for a PIN or signature. The entire project took only three months to complete, including the certification process by Visa. The deploying bank, Credit Dnepr, has been using SmartVista to power its payment business since 2007. BPC’s SmartIssuer, part of the SmartVista suite, supports full card management including extremely rapid product development, streamlined application processing, comprehensive cardholder servicing and, in conjunction with SmartPro, card personalization and production for all card types, including EMV.

GlobalCollect Grows Asia Pacific Presence

GlobalCollect announced the further expansion of its Asia Pacific operations with the opening of their Shanghai office, with plans to expand to Beijing, as well as into Japan and Australia. These offices are in addition to the regional headquarters opened by GlobalCollect in Singapore in 2008. The expansion into the People’s Republic of China is in support of GlobalCollect’s commitment to customer advocacy and its mission to deliver outstanding customer service. GlobalCollect is the preferred payments partner for hundreds of international Tier 1 brands including regional companies like Air China, Hainan Airlines, Lightinthebox, DHgate, DinoDirect and Optical Group. GlobalCollect contributes to the growth of these companies through its broad global portfolio of more than 150 local payment methods, enabling transactions in more than 170 countries around the globe through a single contract and technical interface.

Evolution1 Announces Successful Fiscal 2012

Evolution1 electronic payment, on-premise and cloud computing healthcare solution grew in 2012 to now serve nearly 500 third-party administrators, financial institutions, health plans, and software providers across the country, providing healthcare and other reimbursement account services to more than 75,000 employers and more than 9,000,000 consumers. Evolution1 grew the number of consumers on its platforms by nearly 40 percent. As in prior years, the top-performing Evolution1 Partners grew an average of 88%, saving customers and their employees more than $2 billion in 2012 through annual healthcare cost reductions and tax savings. Additionally, Evolution1 saved its Partners more than $80 million in annual operating costs through claim and payments automation.

Akimbo Debuts Pre-Paid Remittance Card

Akimbo remittance is now accepting enrollments. Combining electronic money transfers with the Akimbo Visa Prepaid Debit Card, users can send funds instantly for use at ATMs and POS anywhere Visa is accepted. Akimbo also enables sharing via Facebook, email, and text (SMS). The recipient must enroll for an Akimbo Card to collect the money, but once the account is created they are sent a pre-loaded card. Akimbo’s iPhone app also lets you add photos, notes, and ratings to purchase transactions. Akimbo provides more than just convenient money transfers. At its core, the Akimbo Card is a full service bank account alternative, offering direct deposit capabilities, transfers to and from other bank accounts, and even bill pay functionality.

Mogreet Unveils Multimedia Mobile Marketing Platform

Mogreet mobile messaging launched Mogreet Express self-service text messaging platform for small- and medium-sized businesses (SMBs) to use text and multimedia messaging to communicate with their customers on mobile devices. Mogreet Express is an extension of Mogreet’s enterprise text marketing solution, offering SMBs an innovative way to communicate with their customers. Mogreet’s platform – which is able to reach 2 billion consumers and used by major retail and entertainment brands – will now give SMB owners the ability to use the same trusted services to effectively reach their consumers. Using Mogreet Express, businesses can build a mobile customer database and drive sales with branded promotional offers.

BlueSnap Pushes Beyond Card-only Subscription Bounds

BlueSnap’s industry leading Smart Subscriptions platform has helped thousands of merchants to create, manage, and optimize their recurring payments for many years. Now, BlueSnap has responded to the evolving needs of customers with an expanded offering that dramatically increases a merchant’s capacity to provide subscriptions using almost all payment types. BlueSnap’s new Automated Subscription Reminder feature fully supports almost any type of payment method as a subscription option beyond just card based transactions. As a result, merchants can optimize recurring payments for local payment types as well as wire transfers to capture more recurring revenue.

Fitch Projects Positive U.S. Credit Card ABS Metrics

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fitch Rating projects strong performance metrics to continue to support rating stability for credit card ABS. Master trust performance data for the February reporting period indicate that our prime credit card indices for gross yield, charge-offs, and 60+ day delinquencies are likely to be flat to slightly positive for the month.…

Consumers Button Up On Paying Down Cards

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fitch’s Prime Credit Card Chargeoff Index declined 30 basis points (bps) in February to a six year low of 3.88% from 4.18%. Chargeoff rates improved to 26% lower from the same period last year while delinquencies declined to 1.61%, the lowest level since index inception. Meanwhile late stage delinquencies are 65%…

AJB Launches mPayments for Petroleum & C-Stores

AJB Software Design integrated payment solutions launched its “FIPay Mobile” mobile payment application that allows Android and iPhone users to pay for gas purchases using their mobile phones while remaining in their car. It provides petroleum retailers the opportunity to attract new mobile-savvy consumers by deploying customized mobile applications without the need to make new investments or changes to their POS infrastructure. AJB unveiled the first mobile payment application in the Canadian Petroleum industry, through a successful pilot deployment at Hughes Car Wash, a Petroleum & C-Store retailer, based in Edmonton, Alberta. Consumers can now pay for gasoline and car washes with their mobile devices at the Hughes Car Wash flagship location in Edmonton, with plans to roll out the solution to additional locations over the next year. AJB’s “FIPay Mobile” is responsible for integrating with the PIN pad device and fuel pumps in the petroleum sector and is PCI-compliant through Cogeco, a PCI-DSS validated service provider.