USAT Nails Major Contract to Upgrade Vending Machines w/ePort Connect

USA Technologies has inked a deal with Ten M to upgrade 1,000 of the company’s vending machines to its ePort Connect cashless payment system, enabling the company to track the acceptance of cash, credit/debit cards, and contactless payments, including mobile wallet payments such as Android Pay and Apple Pay. With the ubiquity of the mobile phone,…

Connected Vending Machines to Grow CAGR 17% to 24MM by 2021

Vending is quickly adapting to keep pace with evolving technologies, refurbishing used vending machines into digitized versions that include touchscreens, sensor technologies, and flexible payment methods. Coca-Cola, PepsiCo, and VE Global Vending look to expand distribution offerings and connect their machines to the Internet to increase operational efficiencies. The newly connected machines will allow operators…

Chase YTD 2016 Merchant Processing Volume Explodes Beyond $1T

Chase crossed the $1 trillion mark in year-to-date merchant processing volume, a first in the firm’s history on December 11th at 11:06 p.m. eastern time. In 2014 the firm launched ChaseNet, a proprietary closed-loop network, and Chase Pay, the firm’s digital wallet, launched in November 2016. Merchant processing volume at the firm has grown annually…

Automated Loyalty, Feedback & Marketing Solution Ready For Primetime in 2017

Silicon Valley Thanx, a loyalty specialist, has nailed $17.1M Series B financing. The financing led by Icon Ventures and Series A investor Sequoia Capital, with participation from Javelin Venture Partners.  Unique in the retail IT market, Thanx eliminates the technical burden of hardware or on-site integrations which have previously made it difficult for brick-and-mortar merchants to…

YapStone Ankles a Former BAMS & Merchant eSolutions Exec as CRO

San Francisco-based YapStone has ankled Michael Gramz for its management team, as Chief Risk Officer. In his role, Gramz will focus on delivering innovative risk management products and services to support YapStone’s partners and customers. Prior to YapStone, Gramz was the Chief Risk Officer and Board Director at Merchant eSolutions, the U.S. processing division of…

FIS and VC FinTech on the Prowl for More Financial Services Disruption

The Venture Center and FIS have teamed for the Global VC FinTech Accelerator Program. Applications are now being accepted through February 5, 2017, at 11:59 p.m. CST. Entrepreneurs who are poised to disrupt financial services should apply. In addition to working with early stage companies in core banking, payments, mobile, and fraud & security, VC…

Member-Get-Member Referral Programs Gain Traction w/Financial Services

A new solution has emerged specifically designed for consumer financial services companies looking to quickly build an effective advocate marketing program to drive the opening of new accounts through existing customers. Extole has released its Financial Services Solution. Extole’s Financial Services Solution ensures these organizations’ member-get-member referral programs are designed for and address the unique…

Automatically Correlating POS Data for Variances and Discrepancies

NY-based B2B Soft, a specialist in wireless point-of-sale (POS), retail management systems (RMS), has inked a deal with Arzosoft, a Canadian-based maker of custom software solutions. This new relationship extends B2B Soft’s ability to offer wireless retailers fully integrated POS solutions and, ultimately, help retailers not only save money, but also recover it. Arzosoft’s innovative…

Real Consumer Transaction Analysis Confirms Holiday Spending Up 9% YOY

The best consumer spending analysis, based on actual consumer transactions rather than surveys or speculation, for Thanksgiving, Black Friday and Cyber Monday shows overall spending growth was up 9.0% year-over-year (YOY), compared to 9.4% in 2015 and 3.5% in 2014. The First Data SpendTrend also showed the total share of eCommerce spending has gone up…

Popular iXpenselt App Beefed-Up for New Breed of iPhones and iPads

The popular iXpenselt personal finance app has been optimized for the current-generation iPhone/iPad. iXpenseIt was one of the first 500 apps to be approved for the App Store back in 2008. The iXpenselt app puts financial information and, most importantly, financial control, right at users’ fingertips. At its core is a comprehensive dashboard that provides…