CA-based Blackhawk Nation has closed on its transaction to acquire TX-based CardLab. CardLab.com is among the largest online stores focused solely on prepaid incentive cards. CardLab currently supports over 9,000 corporate clients.
ArrivaPay Plus, utilized by three of the nation’s top five banks, has been beefed-up with new features. The enhancements include: sophisticated analytics capabilities to brands; enhanced reporting features to merchants via an online web companion porta; iPhone 6/iOS8 compatibility; and compliance with Americans with Disabilities Act (ADA) regulations.
Discover Financial Services has issed D-PAS certification to Oberthur Technologies’ Cosmo RSA v5, for use throughout the Discover Global Network, which includes Discover, Diners Club International, PULSE and global network relationships.
Apriva end-to-end wireless transactions, gateway services, and secure information solutions, expanded features within AprivaPay Plus POS software. AprivaPay Plus now delivers highly sophisticated analytics capabilities to brands, enhanced reporting features to merchants via an online web companion portal, iPhone 6/iOS8 compatibility and compliance with Americans with Disabilities Act (ADA) regulations. M-commerce will be the dominant business model, with $516 billion in sales driving more than 70 percent of all mobile internet revenue by 2017. As the industry grows, enhanced analytics, functionality, broader language support, and robust reporting for both merchants and brands are becoming more critical. Brands using AprivaPay Plus as a white-labeled application will now be able to access detailed anonymized analytics on their brand’s user base including demographics, geo-location, user engagement statistics, device information and marketing data, allowing them to identify their precise user-base, tailor their application accordingly and drive future business via key performance indicators.
MA-based SavingStar a shopping and online loyalty program has launched a new secured card via of First National Bank of Omaha. The new SavingStar American Express Card is the first co-branded secured card on the American Express Network for consumers with no credit or rebuilding their credit.
The SUBWAY restaurant chain and its 26,000 locations in the U.S. will launch NFC-based mobile payments nationwide onOctober 1. The move is being facilitated by Softcard (formerly known as ISIS).
EMV-compliant Near-Field Communication (NFC) technology is coming to inflight entertainment (IFE) systems. Panasonic Avionics plans to launch the technology with airlines in the summer of 2015.
NCR Silver received a Bronze Stevie Award for “Best Business-to-Business Product” of the year during the 12th Annual American Business Awards Sept. 12, 2014. The American Business Awards is the nation’s premier business awards program. A record number of nominations were received in 2014 with more than 3,300 organizations vying for the top spot. NCR Silver was among those honored at the New Product & Tech awards ceremony. Also at the ceremony, NCR Silver won a “People’s Choice Best Business-to-Business Product” of the year. The nationwide public vote was conducted over the summer, with the highest number of votes determining the winners in various product categories. This year, more than 57,000 votes were cast.
Calypso cross-asset front-to-back technology solutions for financial markets, announced LCH.Clearnet Ltd and LLC have completed the project to introduce the Calypso Collateral Management solution to their Collateral and Liquidity Management (CaLM) offering. With this development, LCH.Clearnet is able to deliver further processing efficiencies with automated, real-time Collateral Management operations. The Calypso Collateral Management solution delivers Automated real-time management, consolidated view of Member collateral assets facilitating a streamlined margin call process and Full support for cash management. In implementing Calypso, LCH.Clearnet has replaced a vendor package in the front office and an in-house legacy platform in the back office.
Instant payment card issuance is gaining more popularity in the wake a recent data breaches. EFT Source’s Card@Once is a great example as NY-based Parks Heritage Federal Credit Union is implementing the solution.
SMB (Small Mid-Market Businesses) are also in the crosshairs of fraudsters. About 58% of defrauded micro and small businesses ($100K-$10M in annual revenue) experienced misused credit card accounts last year, while 52% of middle-market businesses ($10M-$500M in annual revenue) experienced credit card fraud in 2013.
Due to a heavy reliance on FICO scores by financial insitutions, a new generation of financially responsible people who are just getting started in the workforce and who may have short credit histories or large student loans are being overlooked by traditional financial institutions.