GECU Deploys NCR for Digital, Physical Banking

GECU is bringing convenient, intuitive, and easy-to-use services across both its digital and physical channels through the innovative technology of NCR. GECU credit union provides its members with online and mobile digital banking services from Digital Insight, an NCR company, while also installing NCR Interactive Teller in new neighborhood branches. GECU has agreed to renew Digital Insight’s suite of SaaS solutions including Online Banking, iOS and Android mobile and tablet banking, Remote Deposit Capture, FinanceWorks and Purchase Rewards.Financial institutions are continuing to adopt mobile services as mobile banking becomes more popular. According to a Digital Insight study1, mobile consumers access their financial information 66 percent more frequently than online, non-mobile consumers. Additionally, consumers using online, mobile and tablet log in approximately 30 times a month compared to consumers who only use online banking and log in less than 10 times a month.2

Payza Launches Bitcoin in 190 New Markets

Payza payment platform and services for ecommerce has taken the lead in the international Bitcoin market. The company is offering members the opportunity to withdraw funds from their Payza eWallets directly into their Bitcoin wallet. The Bitcoin payments are based on the exchange rate of both U.S. currency and Bitcoin value at the time of transfer. Payza consumer exchange rates will be locked in at the moment of the transaction. All transactions, no matter which of the 21 currencies Payza currently handles, will be completed using the U.S. dollar currency rate at the time of the transaction.

Prepaid Card Mall Volumes Gaining

New research examines the size and diversity of prepaid loads through card malls hosted in third-party retailers’ locations. The convenience and variety of cards offer consumers a way to buy gifts, access financial services, and obtain cell phone service. The total dollars loaded through card malls grew at a pace of 19% in 2013. This growth indicates the importance of the channel to shoppers and shows why prepaid providers should consider card malls as part of their overall prepaid distribution strategy. The report estimates of the market size in the United States for prepaid loads made through card malls hosted by other retailers and the diversity of cards and services prepaid card malls despite common perception as gift card malls. Prepaid card mailings include offerings from American Express, the Blackhawk Network, Discover, epay, Euronet WorldWide, Green Dot, InComm, MasterCard and Visa.

NRF Asks U.S. Supreme Court to Review Swipe Fee Ruling

The National Retail Federation told the U.S. Supreme Court that the debate over debit card swipe fees is “of staggering importance” and asked the justices to review a ruling that left the Federal Reserve’s cap on the billions of transactions conducted each year at 21 cents rather than reducing it to a lower level. A petition asking the Supreme Court to consider the case was filed today by NRF, the National Association of Convenience Stores, the Food Marketing Institute, the National Restaurant Association, NRF member Boscov’s Department Store, and NACS member Miller Oil Co., all of whom were plaintiffs in the original lawsuit. While lower than the average of 45 cents before the cap was set, NRF argued that the 21-cent figure included costs that went beyond those allowed under the legislation and filed suit against the Fed in U.S. District Court in 2011 along with other retail groups. The U.S. Court of Appeals for the District of Columbia overturned Leon’s ruling, citing “ambiguity” in the 2010 law and saying the Fed based the cap on a “reasonable interpretation” of the measure.

Allied Wallet Streamlines Set Up Process and Sees Spike in Business

Allied Wallet recently streamlined their set up process to take merchants live quicker and simpler. Allied Wallet worked to develop a payment solution that’s integrated in any programming language with plugins to all major e-commerce shopping cart solutions. It’s clear that merchants are appreciating this speed and ease because Allied Wallet reported record spikes in business for Quarter 2 of 2014. With merchant sign up showing an increase of about 27% and a significant spike in transaction volume, Allied Wallet is growing at record highs.