While the the initial deployments of cloud POS systems were not very good, there are new hybrid deployments, along with the participation of larger retailers in the discussion, that are making the potential use of the cloud for POS as worthy of the discussion, something most retailers would not even consider even two years ago.
CardWeb’s CardExecs database today spotlights Rob Reeg, president, MasterCard Technologies & Operations (MTO). He oversees the strategic processing platform, global network and quality of technology operations at MasterCard Worldwide. Based at the MTO headquarters in St. Louis, Missouri, Reeg serves as a member of the company’s Executive Committee.
The Global NFC POS Terminals market is expected to grow at a Compound Annual Growth Rate (CAGR) of 57.9% between 2013 and 2018. One of the key factors contributing to this market growth is the increasing penetration of NFC-based mobile handsets. Terminals have also been witnessing the increasing penetration of NFC POS terminals in the transportation sector for ticketing transactions.
Small-business customers who have both a credit card and merchant processing relationship with U.S. Bank can “double dip” on rewards. The new rewards program, Encore, offers small-business customers extra rewards when they pair a U.S. Bank Business Edge Rewards Credit Card with a U.S. Bank Payment Solutions merchant account.
Citibank has launched a global initiative to inspire technology developers to reimagine mobile banking and payments and to stimulate digital progress in the industry. Citi Mobile Challenge will provide developers with a suite of tools they can use to build solutions to benefit consumers either through mobile applications or the Internet of Things. Selected participants will present their concepts at demonstration events in Miami, New York and Silicon Valley and finalists will have the chance to take their technologies into production with the support of Citi.
Bank of America has expanded it Preferred Rewards program to Michigan, Illinois, Tennessee, North Carolina, Georgia and Florida. This is part of a four-wave national rollout of the program that began in June and will be completed by the end of September.
Brazil’s UOL BoaCompra is overtaking the online games payment territory in Turkey. As the fourth largest internet usage country in Europe with 70% of total game time spent on PCs, Turkey is dominated by free-to-play models and MMO’s. The company’s latest full-service payments launch into Turkey comes off the heels of the company’s expansion into Colombia, Peru and Mexico
The Estonia-based mobile payments company Fortumo has introduced a Software Development Kit (SDK) developer program for app developers to help them acquire additional users for their apps. Fortumo in-app payments enable customers to charge digital goods purchases to their mobile operator bill.
Miami-based Net Element is integrating Apple services into its point-of-sale payment acceptance hardware and software. Net Element also announced the official completion of a debt exchange transaction.
Dallas-based global mobile payments technology specialist and processor, Calpian is set to support Apple Pay and provide merchants with access to Apple’s new mobile payments ecosystem. Calpian will integrate Apple services into its point-of-sale payment hardware and software, and provide its merchant clients with the tools and support they need accept payments over Apple’s NFC-based payment solution.
CA-based Green Dot, a major prepaid card specialist, is acquiring Santa Barbara Tax Products (TPG), the nation’s largest consumer tax refund transaction processor. The move will greatly expand Green Dot’s financial services for low and moderate income consumers.
Visa is looking to unload its investment in Monitise a UK-based mobile payment developer and processor. Visa says it will be lessening its dependence on external mobile development resources. J.P. Morgan Securities is handling the process. The news sent Monitise stock price south by more than 30%.