CardinalCommerce, the pioneer and global leader enabling digital commerce, announces that it has been granted a US patent for Alternative Payment Implementation for Electronic Retailers, patent US 8,762,210, and notice of allowance for Method and System for Extending Payment System Architectures and Legacy Order Processing Systems to Mobile Commerce Applications via Text Messaging (Japan). The new patent reinforces that Cardinal is on the leading edge of the payments industry’s move towards omni-channel payments. Consumers are looking for convenient ways to shop and to protect themselves and their payment data when shopping. This technology allows for in-store transactions using payment methods other than plastic cards, like digital wallets and other alternative payment methods. Cardinal’s patent portfolio includes 42 issued patents, 5 notices of allowance, and approximately 100 patent applications pending.
MasterCard announced that Deborah Heng has been appointed group head and general manager of Singapore to lead all aspects of MasterCard’s business expansion efforts in Singapore, working with banks, non-financial institutions and key merchants to drive business results. In her 14 years with MasterCard, Ms. Heng has overseen diverse strategic business deals, delivering against aggressive revenue targets and managing investment budgets across varied geographies – first in Finance for the Asia Pacific region, followed by the Europe region, after which she moved to roles in Customer Relationship Management and Business Development based in Singapore. Prior to this appointment, her most recent role was Division Finance Officer for MasterCard, South East Asia and South Asia. Heng holds a Bachelor of Accountancy degree from the National University of Singapore and a Master of Business Administration degree from the University of Nottingham, UK.
Discover’s Payment Services dollar volume was $50.9 billion for the second quarter of 2014, up 3% from the prior year. PULSE transaction dollar volume was up 4% year-over-year.
Visa acquired a license that will enable us to integrate TrialPay technology into the Visa platform. TrialPay will be joining the Visa team as full time employees to help accelerate the development of a loyalty and offers platform. Eight years ago, TrialPay pioneered the concept of transactional advertising-placing relevant offers around online transactions, and using transactional data to show the most relevant offers and ads to consumers. To date, half a billion consumers have used TrialPay, generating hundreds of millions of new transactions for merchants big and small. The engaging TrialPay technology is the engine that served up the offers and ultimately led to these transactions. Visa invested in TrialPay three years ago and has helped TrialPay grow. TrialPay itself will remain independent, with no interruption to any of its services.
Discover receives top ranking in a major consumer study. Among many factors: Discover is the first major credit card issuer to provide free FICO Scores directly to its cardholders on their monthly statements.
Feds looking again at Green Dot MoneyPak product that criminals have used to fleece thousands of consumers nationwide. The product shutdown is scheduled for early next year but consumer scams abound.
BitPay announced today that it has become a Demandware LINK Technology Partner. Demandware’s clients will now be able to easily add bitcoin as a form of payment thanks to BitPay’s development of a pre-built integration between its payment processing services and the Demandware Commerce platform.
Visa, MasterCard, American Express and Discover profits reach nearly $4.5 billion in the second quarter. The profits were driven by a strong dollar and rising cross-border transactions.
New research shows the majority of small- and mid-size businesses (SMEs) already use online banking, and mobile banking is on the rise. Currently 35% of SMEs use a smartphone and 25% use a tablet for business banking.
ATMs are moving beyond simple cash-dispensing machines to become more interactive and full-featured self-service hubs. A new Mercator report projects by 2018 next-gen ATMs will feature multichannel capabilities, convergence with mobile solutions, among many other new features.
Much has been made of card industry fees for many years. Congress and regulators, journalists and card members, all have joined in. It seems there is no end in sight to fee income as the proverbial punching bag.
Braintree is building and democratizing access to the most sophisticated payment tools, so that innovators and developers around the world can build the next 99designs, Hailo and Rovio. Companies based outside the US are an important part of Braintree’s client base with international transactions accounting for more than a third of Braintree’s authorized payment volume. In an effort to help support innovation globally, the company is letting users Pay with PayPal feature through the Braintree v.zero SDK for our international merchants, beginning with Australia, Canada, France, Germany, Sweden and the UK. They are introducing the rollout of v.zero in these core markets and working to make all of the SDK features available for our tens of thousands of customers across the more than 40 countries we serve globally.