San Francisco-based OmnyPay has launched its first integrated mobile loyalty, rewards and payment system designed specifically for retailers. OmnyPay enters the mobile payments market with major competitive advantages: a clear focus on a long-standing retailer problem, a proven management team, and a first-of-its kind solution to solve the “last inch” of the mobile payments process.
In today’s CardFlash News Que: CASHSTAR (gift cards); PAYANYWHERE (NFC); AFFIRM (e-commerce); and TCH (FIS).
San Francisco-based Penny has launched the Penny Inc prepaid MasterCard card program virtually connected to a mobile app. Built on the open API payment innovation platform of Marqeta, Penny monitors and manages employee expenditures, significantly reducing the time spent on expense tracking and administration processes.
HalCash North America has launched Pin4, a mobile cardless cash ATM withdrawal solution that provides businesses with a radically better way to engage with their customers through real-time delivery of cash without the need for a debit/credit card or bank account.
Cardholders are 22% more likely to be very-to-extremely satisfied with their bank if they have received an instantly issued debit card instead of a card sent by mail. A new study also found that cardholders who receive their card instantly in a branch often start using it immediately, accruing between $0.50 to $0.77 in additional interchange revenue for their bank during the first month.
In today’s CardFlash News Que: SYNCHRONY (CareCredit); REMITLY (Mexico); EXPERIAN (Small Biz); and WESTERN UNION (Connect).
Average early stage delinquency (30+ days) for the third quarter, among the nation’s top four issuers, edged up by 15 basis points (bps) sequentially, but dropped year-on-year (YOY) by eight bps. All of the top issuers posted higher delinquency for the quarter, according to CardData.
Charge-offs among the nation’s top four U.S. issuers dropped 15 basis points (bps) year-on-year (YOY) to 2.68%, and down 20 bps sequentially for the third quarter. Citibank has done the best job of reigning in card losses, dropping 44 bps from Q2/15 and 41 bps YOY.
Capital One’s third quarter earnings were relatively good as the company delivered a 1.43% return on average assets (ROAA), up from the sequential quarter which was impacted by a large restructuring charge, but down 8 basis points from the year-ago quarter.
Toronto-based GoldMoney has ankled Katie Sokalsky, CPA, CA, as Chief Financial Officer, and Kate Millington as General Counsel of GoldMoney. GoldMoney also completes the previously planned addition of James Turk and Hector Fleming to the board of directors.
Sequent Software has launched the first Token Service Platform (TSP) to support all types of cards including credit, debit, prepaid and access control credentials. Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards.
The Clearing House (TCH) has inked a LOI with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States.