Synchrony Financial is plowing bucks into GPShopper, a developer of mobile apps with a focus on the retail industry. GPShopper’s solutions empower retailers to garner customer engagement and loyalty by bridging the online and in-store shopping experience with the use of mobile technologies.
Anyone paying attention knows credit unions and banks have had their card interest income business models under siege since 2008. So it no surprise that renewed attention has been turned instead to fee income models, and ways to boost that increasingly important revenue stream.
Atlanta-based Vanco Payment Solutions relaunched with new branding and a new website that amplifies its position as a top provider of specialized payment solutions for faith-based, nonprofit, and professional services organizations. The company processes over 13.1 billion in electronic payments annually for more than 30,000 clients.
ACI Worldwide inked a strategic partnership with LD Systems, an international provider of ATMs, financial equipment and technology services. This partnership will enable LD Systems’ clients to offer quick, easy and safe bill pay options at kiosks across the USA.
FL-based IBS announced the release of its new IBS Cloud Point of Sale system. Virtually any browser equipped iPad, Windows tablet or computer can be used as a full featured retail point of sale terminal.
CardFlight has partnered with Integrity Payment Systems to offer CardFlight’s mobile POS solutions to Integrity’s merchants and partners. As part of the partnership, Integrity will leverage CardFlight’s SwipeSimple product as their preferred mobile POS solution for merchants looking to accept mobile payments from smartphones and tablets.
JetPay has added Ingo Money as a new and convenient funding method to its Money Access Card Prepaid Visa. Currently introduced in a limited geographic region in the mid-Atlantic states, MAC will soon be available nationwide.
Girl Scouts of California’s Central Coast now enables supporters to be able to purchase cookies directly from Girl Scouts, or girls can use a digital app to offer customers an online ordering link to have half to full-cases shipped via credit card payment as an option.
Velcro Pay launched a program this week that provides merchants a Free Apple Pay enabled POS machine that is also EMV Chip ready to coincide with the update due later this year. Apple Pay has been a game changer in the payments industry this past year combining technology solutions and small business payment processing.
WEX Europe has entered into an international agreement with Voxel Group. The combination of the WEX and Voxel solutions accelerates the delivery and receipt of hotel invoices by automatically sending these at the relevant point in business-as-usual processes (e.g., at customer check out).
Bank of America (BofA) reported a decline of 0.8% in Year-on-Year (Y/Y) average U.S. bank credit card outstandings of $88.4 billion for the fourth quarter (Q4/14). Meanwhile, Purchase Dollar Volume (PDV) for BofA’s U.S. bank credit cards rose 2.6% Y/Y and up 3.9% Quarter-to-Quarter (Q/Q) to $69.2 billion
The number of payment card portfolios sold in 2014 dipped to just five portfolios worth $2.7 billion. This was down significantly from year end 2013 and the record card deals done in 2012. In 2013 an estimated $17.2 billion in 10 portfolios were done, not including numerous tiny card portfolio sales ( < $10MM).