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

Deutsche Bank and GE Implement Multi-bank JPY Payment

Deutsche BankDeutsche Bank jointly developed and implemented its cash management solution with General Electric’s Treasury team. Customizing NTT Data’s eBAgent in order to streamline General Electric’s Japanese Yen payment and reporting processes, the partnership is focused on managing multi-bank relationships. Addressing issues of multiple proprietary banking platforms with different interfaces and formats, the Deutsche Bank’s solution helps address these issues by offering a single conduit to process multiple bank payments over NTT Data’s ANSER and harmonise the reporting into a unified format. It also lets clients consolidate their banking interfaces, saving on transaction and maintenance costs.

Bancorp’s TPC Payables Prepaid Visa a Paybefore Winner

The Bancorp Payment Solutions Group announced its TPC Payables Prepaid Visa Card has been recognized as a 2013 Paybefore Awards winner. Recognized in the “Best Business-to-Business Prepaid Card” category, the Payments Company (TPC) facilitates electronic payments between businesses, vendors, and employees. Backed by its proprietary software and AP advantage ePay Network, TPC provides a complete accounts payable disbursement solution that includes software integration, vendor enrollment, payment processing, and reconcilement. The Paybefore Awards is now in its seventh year.

Chase Platinum Business Focuses on Small Business

Chase launched a national advertising campaign to introduce Chase Platinum Business, offering dedicated customer support with free and discounted fees. Customers receive concierge-level service with an assigned banker and dedicated phone support. The advertising campaign features three Chase Platinum Business customers who tell their stories in extended-length videos and print and radio ads. This follows Mission Main Street, a 2012 effort that highlighted how Chase’s financing helped six entrepreneurs expand their businesses. Told from the business owners’ perspective, the videos capture the spirit of American enterprise.

Bank of America Launches New Credit Card Rewards

Bank of America introduced its BankAmericard Better Balance Rewards card. Rewarding customers with up to $100 annually for responsibly managing their monthly credit card payments, the new card allows customers to receive $25 for every quarter that they pay any amount more than the monthly minimum due and make payments on time. Also, cardholders receive $25 quarterly cash rewards when payments are made on time and for more than the minimum amount due, $5 bonus per quarter for having another qualifying Bank of America account and can choose to have their cash rewards automatically credited to their card balance or deposited into a Bank of America checking or savings account or Merrill Lynch Cash Management Account with no annual fee.

Kovio NFC Deploys Symphony Teleca mAnalytics

Symphony Teleca Corporation has become a strategic development partner to Kovio NFC products and services. Symphony Teleca will leverage its expertise in the development of big data analytics platforms for retailers, brands, and consumer packaged goods (CPG) industries to co-develop mobile services and applications that enable marketers and advertisers to conduct dynamic and integrated NFC-based mobile marketing campaigns using NFC tags activated by consumers’ own NFC-enabled mobile phones. The development of NFC-based mobile marketing creates a new era in the way brand marketers engage consumers, drive conversion and build brand loyalty through opt-in, personalized, authentic, and contextual experiences at both point of purchase and point of use.

BitPay Expands Investment Round

BitPay bitcoin payment processing expanded its Seed round of funding by adding more angel investors, including Ben Davenport, Trace Mayer, and A-GRade Investments. BitPay now has over 3,200 merchants using its platform to accept bitcoin payments, and recently disclosed that in 2012 they processed over $3.3 million in bitcoin payments for its merchants. BitPay has developed significant expertise in this area, understanding all of the edge conditions and scalability issues that a company would face trying to use bitcoin, and this expertise puts BitPay way out in front of the bitcoin processing space. Having developed a suite of software tools that allow businesses to collect payments over the bitcoin peer-to-peer payment networ, BitPay can accept a payment from any country on earth, instantly, with zero risk of fraud.

Prepaid Resources Partners IDology, Prevents Fraud

Prepaid Resources prepaid debit and banking technology partnered IDology to incorporate advanced identity verification and pre-screening solutions. IDology will implement the Prepaid Resources “FraudGuard” fraud security services. The FraudGuard solution protects against unauthorized direct deposit enrollments. Using Prepaid Resources’ award-winning “BenefitsDirect” ‘Direct Deposit Management’ application. IDology is a provider of real-time technology solutions that verify an individual’s identity and deter fraud anywhere in the payments value chain.

U.S. Bank Partners American Red Cross

U.S. Bank and American Red Cross partnered to provide disaster preparedness funding, opportunities for customer contributions, and increased employee volunteer opportunities. This partnership includes an annual commitment of $250,000 from U.S. Bank to help the Red Cross prepare for vital disaster services; the opportunity for customers to contribute at designated U.S. Bank ATMs when disaster strikes and U.S. Bank will kick off Employee Awareness and Preparedness Fairs for its 65,000 employees across the nation throughout the year.

Wincor Nixdorf Allows ATM Withdrawal on Smartphones

Bank customers will now be able to withdraw cash from ATMs using their smartphone instead of a bank card through the Wincor Nixdorf enhanced PC/E Mobile Cash app for Android and iOS in October 2012. For the iPhone, Wincor Nixdorf is the first vendor of ATMs to integrate this service in Apple Passbook using Apple passes while for Android users, it has been integrated directly in the Wincor Nixdorf app. Bank customers use the app on the smartphone to prepare their withdrawal quickly and conveniently. Bank customers simply select the Mobile Cash function and then control the rest of the previously prepared transaction from their smartphone. The QR code, which is stored either in Apple Passbook or Wincor Nixdorf’s PC/E Mobile Cash app, is read in at the ATM, replacing authentication via bank card. A transaction PIN can also be entered as an additional security feature.

Experian Intros Consumer Credit Bureau

Experian global information services launched its consumer credit bureau providing consumer credit reports to financial institutions, telecommunication and utility providers. The bureau’s launch will increase competition within the Australian market, by providing credit providers with greater bureau choice, and improved transparency for businesses and consumers about the credit granting process. From Experian’s portfolio of global products and services, the Australian credit bureau will offer a range of tools to help lenders manage their clients through the entire lifecycle and better understand risk.

Mastercard Launches NFC Payment Project

MasterCard launched NFC payment services in Brazil on its Mobile PayPass technology platform, in partnership with Itaú, TIM, Redecard, and Gemalto. Giving consumers greater convenience and speed when shopping, through a more secure payment option, “Mobile PayPass” utilizes tap-payment charged to a virtual account stored in the account holder’s smart phone. As part of efforts to prepare the environment for the future of electronic payments, MasterCard is building the ability to connect MasterPass, its recently announced digital service, to a Mobile PayPass-enabled handset that has been provisioned for NFC payments at the cash register.