Creditcall appointed Doug Wallace Head of North America (Retail) to oversee the building of the U.S. division and Creditcall’s North America retail activity. He will also be involved in the development of banking relationships and the certification process in North America. Wallace brings to the roll more than 20 years of experience in retail POS payment systems and was most recently Vice President of Operations and Client Services North America at YESpay, where he was responsible for business development and partner relationships.
Fico has been awarded 25 new patents, bringing its patent portfolio to 167 U.S. and foreign patents. These patents were awarded to team members of FICO Labs for inventions underlying the company’s solutions in fraud protection, cybersecurity, predictive analytics and decision management. Ten of the latest patents cover analytic innovations used by FICO’s industry-leading fraud solutions across the financial, healthcare and telecommunications industries. These technologies, many of which are used in the FICO® Falcon® Platform, help improve fraud detection, reduce false positives and improve the customer experience. FICO also received a patent for a consumer-driven secure sockets layer (SSL) modulator. This is a software system and method for executing secure commercial transactions online by enabling unique receipt message encryption to thwart “man-in-the-middle” attacks. FICO was also awarded patents for inventions related to predictive analytics.
First Data introduced its Insightics solution for small and medium-sized businesses (SMBs), offering them cloud-based software for big data behind payment transactions. This ultimately allows them to monitor key business metrics affecting their business, better understand customers to engage effectively, and derive more value from marketing and loyalty programs to grow revenue. Many small business owners struggle to get a timely and measurable view into their key business drivers, and may not know what their best days and times of the week are, how many new versus repeat customers they received in a week, if repeat customers tend to spend more than new customers, how far their highest spending customers traveled to reach them, and when they have a lackluster sales day, can see if it is happening to similar businesses.
First Data has received commitments to purchase approximately $3.5 billion of its common equity in a private placement to strengthen the company’s balance sheet through repaying portions of its debt. The $3.5 billion comprising the private placement announced today includes $1.5 billion from existing investors and $2.0 billion from new investors, including a diverse group of pension funds, mutual funds, asset managers and wealthy individuals. KKR provided approximately $1.2 billion, including $500 million from its 2006 Fund and $700 million from its balance sheet. Upon close of the transaction, KKR’s balance sheet will have approximately $1.0 billion invested in First Data’s equity, through general partner and limited partner interests.
Dwolla Direct now lets individuals and organizations to send money using the Dwolla network-without registering for a free full Dwolla account. By allowing users to access and send money from their existing bank and credit union accounts, Dwolla is lowering the barrier of entry into the network and helping digitize paper checks. By creating a Direct account during the first-time payment flow, senders securely wrap their payment information with a username and password and hide bank account and routing numbers from the recipient. Upon return, senders can access and send money directly from their linked bank or credit account by simply entering their Direct credentials. This announcement is especially attractive to small businesses, non-profits, and government agencies looking to replace and digitize their check operations.
SimplyTapp Host Card Emulation (HCE) solutions for mobile payments announced Mohammad Khan has been named to its Board of Directors. Mohammad Khan co-founded ViVOtech in 2001, the early leader in contactless and Near Field Communication (NFC) mobile payments. As its President and Board Member, Khan paved the road for mobile payments by shipping more than one million NFC POS terminals to a wide variety of brand name merchants around the world. Khan and the team also ran multiple successful field trials globally for mobile payments, offers, and loyalty programs confirming to the industry that consumers liked using their mobile devices to shop, save and pay at physical stores. Prior to ViVotech, Khan worked at VeriFone for 15 years joining in its infancy days, and contributed in making magnetic stripe and smart cards to be the leading payment medias for the industry globally.
ESPN Events has announced BitPay as the new title sponsor for the annual college football postseason game played in St. Petersburg (Fla.). Beginning with this year’s December 26 game, the bowl will now be known as the Bitcoin St. Petersburg Bowl. BitPay will serve as title sponsor for three years through the 2016 game.
Flint Mobile announced the integration of its no-card-reader mobile payment app with Intuit’s QuickBooks Online, expediting end-to-end operations for small businesses that work outside traditional storefront environments.
Flint is the only mobile phone-based payment app that automatically syncs all transactions, line item information and customer information with the user’s QuickBooks Online account, eliminating manual data entry while also providing detailed reporting and customer history tracking not available with other platform integrations. These features extend Flint’s benefits for mobile business management, including the ability to take payments by scanning the card number with the camera instead of swiping with extra hardware, send invoices for easy online bill payment, handle cash and checks as well as card payments, and manage customized coupons with Apple Passbook integration. Merchants can begin accepting payments instantly with no need for a merchant account or waiting period for hardware delivery.
VeriFone Systems, Inc. announced the introduction of two EMV-ready payment terminals from VX Evolution”its latest line of portable and countertop terminals”to the Kingdom of Saudi Arabia market with its partner, International Turnkey Systems Group (ITS), an integrated IT solutions and software services provider. “VeriFone is committed to providing leading edge, certified terminal solutions to meet the needs of our clients in key markets”
Diebold is adding more than 1000 new Opteva automated teller machines (ATMs) to Banco de Credito del Peru’s (BCP’s) fleet to expand Peruvians’ access to BCP’s services. Diebold is also providing maintenance services to ensure greater availability of BCP’s entire multivendor fleet of about 1,800 ATMs. BCP has earned a number of awards for delivering innovative banking solutions to the people of Peru. Diebold’s deposit automation technology adds to the bank’s mission to serve the country’s underbanked, many of whom have very limited access to branches. The technology enables BCP ATM users to make envelope-free cash and check deposits at the ATM, replacing traditional in-branch teller transactions with convenient self-service transactions.
While Visa Inc. (VS) generally spends more than 50% in marketing than MasterCard, Inc. (MC) historically, the figure is extremely skewed by the absence of creditable figures from Visa Europe. However, during the fourth quarter MC way outspent VS to the tune of $321 million, compared to the VS figure of $186 million.
Amazon today unveiled Fire, the first smartphone designed by Amazon. Fire is the only smartphone with Dynamic Perspective and Firefly, two new breakthrough technologies that allow you to see and interact with the world through a whole new lens. Dynamic Perspective uses a new sensor system to respond to the way you hold, view, and move Fire, enabling experiences not possible on other smartphones. Firefly quickly recognizes things in the real world”web and email addresses, phone numbers, QR and bar codes, movies, music, and millions of products, and lets you take action in seconds”all with the simple press of the Firefly button.