During Q1/14 VISA (VS) and MasterCard (MC) produced $94 billion in international credit card CDV, compared to $106 billion in the prior quarter and $96 billion one-year ago. VISA posted $46 billion in Q1/14 international credit card CDV, compared to $53 billion in the prior quarter and $48 billion in the year ago quarter, for a Y/Y growth rate of (-4.1%). MasterCard posted $48 billion in Q1/14 international credit card CDV, compared to $53 billion in the prior quarter and $48 billion in the year ago quarter, for a flat Y/Y growth rate.
Morgan Stanley Wealth Management (MS) has integrated the mobile check deposit software from NCR Corporation (NCR), the global leader in consumer transaction technologies, into its new Morgan Stanley Mobile App for iPhone. Morgan Stanley’s new wealth management app features cutting-edge technology from NCR partner Mitek that makes taking a suitable photo of a check using a mobile phone camera even easier. Mitek MiSnap provides onscreen guidance to clients to help them properly orient the check in the photo frame and then snaps a picture of the check automatically. The check deposit is then validated and transmitted using the new NCR APTRA Passport for Mobile software for processing.
LoopPay made available the LoopPay ChargeCase. This iPhone charge case enables secure mobile credit card transactions while extending battery life. The ChargeCase allows consumers to leave their wallets and charging cables behind for the day while gaining the ability to pay with their phones just about everywhere they shop or dine. The mobile payments market is poised for growth, but consumers have not adopted any of the mobile wallet solutions to replace their existing physical wallets due to the inability of previous mobile payment technologies to find wide acceptance at most retail locations. LoopPay technology turns existing magnetic stripe readers at nearly every point-of-sale terminal into contactless payment receivers without any changes to existing merchant infrastructure. The LoopPay ChargeCase is compatible with iPhone 5 and 5s devices and delivers about 60 percent additional power to the standard iPhone battery. Even when the ChargeCase is depleted after transferring charge to extend the phone’s battery, it still has sufficient power to perform more than 100 mobile transactions. T
Fico announced the general availability of Fico Debt Manager solution 9.5, with a host of new features designed to help collectors improve productivity while ensuring they are compliant with new regulations. The solution enables collections groups to reduce operating costs, achieve score-driven increases in amounts collected, adjust to changing regulations and increase customer satisfaction. FICO Collection Scores are now available out-of-the box, giving users the ability to assign the right treatment strategy and collector to each individual account, and thereby helping to improve performance. Typical operations that adopt FICO Collections Scores see a three to five percent lift in collections. FICO Risk Intervention Manager clients report being able to handle two to four times the volume at the same cost with better right-party contact rates and improved customer satisfaction.
LoopPay, Inc. announces today the availability of the LoopPay ChargeCase, the world’s first iPhone charge case that enables secure mobile credit card transactions while extending battery life. LoopPay delivers the world’s first mobile payment solution that is accepted almost everywhere, and can effectively replace traditional wallets. The ChargeCase is the second product LoopPay has introduced in four months, with several more products planned for market entry this year. LoopPay invented the world’s first mobile wallet app that allows consumers to securely store all their cards and pay with their Loop Ready devices (accessories, smartphones, smart watches) virtually everywhere.
Powa Technologies announced a partnership between its PowaPOS retail payments platform and iConnect POS software to provide a robust, fully-integrated and advanced tablet-based POS solution. The PowaPOS T-Series is the first POS platform that integrates all major tablet platforms, with a high-speed printer, 2D barcode/QR code scanner, cash drawer, EMV payment terminal and multiple expansion ports, together in an attractive, all-in-one space saving form-factor. The optional PowaPIN is the world’s smallest EMV chip-and-pin acceptance device. iConnect’s iOS tablet software provides merchants with consolidated services, fully customizable for merchant needs. Features include inventory tracking, employee management, multiple language and multi-location support, real-time reporting, CRM, email and text message marketing.
Cachet Financial mobile money management partnered with Navy Federal Credit Union to implement a money management tool geared towards students. The credit union’s Visa(R) Buxx program will use Cachet’s Select Mobile(TM) Money prepaid mobile application to view balances, request money from parents through SMS, email or in-app notification, and use the locator feature to easily locate the nearest branch or ATM. Cachet’s Select Mobile Money prepaid mobile platform is a cloud-based SaaS solution that enables financial institutions to offer their prepaid cardholders a full suite of convenient financial services in one easy-to-use mobile application. Available for iOS and Android systems, the Select Mobile Money platform can be integrated with existing card programs or used to develop a new prepaid card program.
Payveris online and mobile digital payments companyand Geezeo, a company that helps hundreds of banks and credit unions better engage customers through digital channels, have announced a collaborative partnership to offer innovative financial tools and services that enable customers and members to more easily manage their finances.Payveris and Geezeo will leverage each other’s expertise to create integrated offerings that empower financial institutions to better compete in the marketplace.Payveris’ cloud-based digital payments platform allows for more secure, faster and less expensive payment transactions with less risk of errors. This platform approach provides financial institutions with a more integrated payment offering.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] International (excluding the USA) Purchase Dollar Volume (PDV) for Visa (VS) and MasterCard (MC) debit cards rose 15.9% year-on-year (Y/Y) in the first quarter (Q1/14). MC’s growth in Q1/14 international debit cards PDV growth outpaced VS by 460 basis points (bps), according to CardData. During Q1/14 VS and MC produced $226…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs are up .1% from earlier in month to 15.1% after averaging a meager .04% change over the past year. The figure is also up substantially on the year ago figure of 14.9. This follows a relatively lengthy period of APR stagnation since the holiday months. Typically, card…
TSYS announced Philip W. Tomlinson decided to retire as CEO. In his place, M. Troy Woods has been elected by the TSYS board of directors as president, CEO, effective July 31, 2014. Tomlinson will continue to serve as executive chairman of the board of TSYS until the 2015 Annual Shareholders’ Meeting. Woods started his career at Columbus Bank and Trust Company in 1970, working part time in the bankcard department and eventually becoming a vice president. He left the company in 1977 to become senior vice president of consumer lending for AmSouth Bank in Birmingham, Ala. Woods rejoined TSYS in 1987 and directed the company’s international expansion, strategic planning, major client negotiations and the company’s launch of TS2. Most recently, he guided the company’s diversification strategy into faster growing areas of payments as TSYS moved beyond its roots as a third-party processor for bank issuers and merchant acquirers.
SIMalliance has highlighted that future growth of the NFC ecosystem and NFC-based applications, resulting from host card emulation (HCE), is likely to expedite SIM-based NFC payment deployments and create opportunities for mobile network operators (MNOs) to ‘address the security and authentication gaps in HCE*’.SIMalliance published a paper in April 2014, titled ‘Secure Element Deployment & Host Card Emulation’. It explores both the advantages and the limitations of HCE, providing insights and assessments on a broad range of related topics, including the investment risks for early adopters, the security fallibilities of Android 4.4, the scale of the HCE-NFC certification challenge and the prohibitive barriers to HCE acceptance in global transport and ticketing systems.