SafeCharge International Group Limited announced that they will be introducing their unique PCI descoping solutions by sponsoring and speaking at the 9th PCI London event, the UK’s premier payment and risk summit, to be held at the Park Plaza, Victoria, London on July 1, 2014. During the conference SafeCharge will highlight PCI Descoping solutions. Praful Morar, Corporate Development and Strategy Director of SafeCharge will be presenting the topic, “The Benefits of Outsourcing PCI” at 12:10 on July 1 in the Main Plenary Hall.
MasterCard’s (MC) Latin America Caribbean (LAC) region Purchase Dollar Volume (PDV) rose year-on-year (Y/Y) by 21.7% on a local currency basis in the first quarter (Q1/14) to US$49 billion. Based on PDV, the MC LAC region is the fastest growing region. The average purchase ticket in the MC LAC region declined 12.0% Y/Y. One-year ago it stood at US$47.06, compared to US$47.48 in Q4/13 and US$47.06 in Q1/14, according to CardData. MC has 145 million cards-in-force (CIF) currently in the LAC region, compared to 131 million in Q1/13.
InComm has signed an agreement with Swedish Seamless that enables the digitization of the company’s vast portfolio of closed-loop stored-value cards using the mobile payment solution SEQR. InComm offers stored-value cards from more than 500 brand partners in the US. The collaboration opens up InComm’s large client base and enables stores to digitizetheir gift cards. InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. SEQR is Sweden’s and Europe’s most used mobile wallet in stores and online.
InComm has signed an agreement with Swedish Seamless that enables the digitization of the company’s vast portfolio of closed-loop stored-value cards using the mobile payment solution SEQR. The card, which can be topped up via mobile, will also function as a payment account in the SEQR-app and the US will be the first market to launch.
Visa Inc. (VS), the dominant payment card network, delivers the goods (a/k/a profits) over any other payment card network, but MasterCard (MC) continues to deliver solid results as well. During the first quarter of this year (Q1/14), net income (after tax) among the world’s two top payment card networks rose 21.2% to $2468 million, according to CardData. VS Q1/14 net income rose 25.8% to $1598 million, compared to $1407 million in the prior quarter and $1270 million in the year-ago quarter.
Fintech Innovation LabLeading-edge mobility, data analytics and credit risk solutions were among the six technology innovations demonstrated for top financial services, venture capital and technology executives at the fourth annual FinTech Innovation Lab Demo Day in New York. The Lab is a 12-week mentoring program created by Accenture (ACN) and the Partnership Fund for New York City and supported by more than a dozen of the world’s leading financial institutions to promote financial services technology (“fintech”) innovation and high tech job growth in New York City. This year’s entrepreneurs were chosen by chief technology officers from 15 participating financial institutions. The companies included Enigma, Kasisto, LMRKTS, pymetrics, RevolutionCredit and Standard Treasury. The group has spent the last 12 weeks receiving high level mentoring, product and business development advice and exposure to senior financial industry, technology and venture capital executives. The 18 previous alumni companies have raised a total of more than $76 million in financing after participating in the program since 2010.
RewardsNOW loyalty programs for financial institutions announced Data Center (DCI) has partnered to provide loyalty and merchant funded rewards program services to its financial institution clients. DCI provides core processing software and related technologies for hundreds of community banks nationwide. RewardsNOW will provide DCI’s community bank clients with a fully comprehensive, enterprise-wide loyalty program consisting of a customized program website and access to RewardsNOW’s merchant funded rewards platform, including its local merchant funded shopping program, Shop Main Street; a merchant discount coupon program; and an integrated mobile application.
Higher One financial services and data analytics to more than 1,900 colleges and universities nationally, announces the addition of the Chinese yuan to its international payments service, which is powered by Higher One’s partnership with Western Union Business Solutions. The yuan follows the recent additions of Korean won, added earlier this year and the Indian rupee, added last year. According to Open Doors® 2013 “Fast Facts,” students using the yuan, the won and the rupee represent more than 50% of international students in the U.S. “a constituency Higher One now serves through its international payments services. Higher One and Western Union Business Solutions are providing a streamlined solution to more international students than ever and at an exchange rate that is more competitive than what traditional banks offer.
Payment Alliance International (PAI) , a leader in retail ATM solutions, and OnPoint Community Credit Union announced they have entered into an agreement to brand ATMs at all 72 Rite Aid pharmacies in the state of Oregon. PAI will own and operate the ATMs which will be outfitted with OnPoint Community Credit Union’s branding. OnPoint members will benefit from surcharge-free access to cash at Oregon Rite Aid pharmacies beginning July 2014.
PayByPhone has been selected by Florida International University (FIU) to provide a cashless parking service at FIU’s campus parking lots. The same convenient mobile payment option that has been available on the streets of Miami and has proven to be a success for the users will be rolled out to FIU’s 4,500 parking spaces in the coming weeks. The PayByPhone smartphone app and dial-in service offer drivers a convenient alternative to paying with cash at a parking meter and includes the option to receive a text message reminder before their parking expires, enabling them to extend their parking time from wherever they are.
MasterCard’s (MC) asset base is now growing slightly more than four times faster than Visa (VS). During the first quarter of this year (Q1/14), publicly declared assets among the world’s two top payment card networks rose 11.1% to $52.1 billion, according to CardData. VS Q1/14 assets increased 6.3% to $37.3 billion, compared to $36.2 billion in the prior quarter and $35.1 billion in the year-ago quarter. VS figures do not include Visa Europe.
Delivering greater self-service convenience to consumers, Diebold, Incorporated is adding 700 new Opteva® automated teller machines (ATMs) to Euronet Worldwide’s extensive fleet across Europe. The agreement includes Opteva cash dispensers with full cash recycling capabilities. Diebold will also provide three years of maintenance and deliver ATM channel management services to enhance the security, compliance and uptime of Euronet’s new terminals.