FIS banking and payments technology, its NYCE® Payments Network and MasterCard announced a licensing agreement that will make MasterCard’s EMV debit solution available to all NYCE participants. EMV chip card adoption is a common goal of the U.S. payments industry, designed to increase card transaction security and decrease card-based fraud. This agreement provides all NYCE Network participants with an EMV license with respect to MasterCard products and continues the advancement toward a secure payment environment. This agreement permits FIS to offer a MasterCard-NYCE solution to all NYCE participants, bringing full EMV deployment across the U.S. another step closer.
USA Technologies Celebrates Cashless Adoption in Self-Serve Retail with a Milestone 250,000 Connections to its ePort Connect Service
USA Technologies announced that connections to its end-to-end ePort Connect® service crossed 250,000 during its fourth fiscal quarter ended June 30, 2014. USAT’s ePort Connect service is a PCI-compliant suite of cashless payment and telemetry services specially tailored to fit the needs of self-serve retail industries. Designed to be a “one-stop shop,” services offered through ePort Connect include wireless and merchant account setup, simplified processing rates, settlement and reconciliation, 24 x 7 customer service and a host of value-added services including mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.
Citizens Financial launched more user friendly mobile access. Use of mobile video camera technology improves on mobile check deposit functionality, with higher-quality images that make it easy for Citizens Bank and Charter One customers to deposit checks with their iPhone®, iPad® and Android™ devices. Customers can also now view account balances on mobile devices without logging in. The Citizens “Bank Better” enhancements that expand mobile banking functionality for Citizens Bank and Charter One customers – mobile check deposits and fast account balances. Both enhancements use industry-leading technology designed to deliver increased customer convenience. CFG’s mobile check deposits capture check images using a mobile device’s video camera. The check image is captured using the mobile device’s video camera and leverages built-in components to provide real-time feedback to the customer. The Citizens Bank and Charter One Mobile Banking App proactively instructs the customer to make needed corrections like holding the device steady, turning on the flash or getting closer to or pulling back from the check. Once all conditions are met, the video camera automatically takes the picture.
First Data and Union Bank commercial bank providing a broad mix of financial services announced the companies finalized a multi-year agreement for debit processing, ATM driving, and card fulfillment output services. First Data will provide the efficiency, scale and functionality required for the $107.2 billion bank and its nearly one million cardholders while the bank continues to manage its own portfolio.
Scanbuy mobile engagement solutions provider announced the company has engaged Connecticut-based OmniView Capital Advisors for its business and financial services. Scanbuy operates the cloud-based mobile engagement platform ScanLife, as well as the most popular mobile engagement app in the world, with millions of users discovering new information from their real-world environment. The mobile app is available for free on all major platforms, including Android and iOS. Scanbuy mobile engagement solutions power intelligent connections between the physical and digital world. The ScanLife suite of products consists of a cloud-based platform used by a wide variety of industries including retail, CPG, and media to create, manage and monitor dynamic mobile engagement campaigns.
The Sam’s Club 5-3-1 cash back program on its new co-branded MasterCard, issued by GE Capital Retail Bank, is available to qualifying Sam’s Savings, Sam’s Business and Sam’s Plus members in the U.S. and Puerto Rico. The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity. Sam’s Plus members have access to earn up to $500 annually through Cash Rewards on top of earning up to $5,000 annually when they use the co-branded Sam’s Club MasterCard.
The four major global payment card networks (excluding Visa Europe, CUP and JCB) produced a 3.0% year-on-year (Y/Y) gain in Cash Dollar Volume (CDV) during the first quarter of 2014 (Q1/14). Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS) produced $963 billion in global CDV, compared to $935 billion in the year ago quarter.
FIS the world’s largest provider of banking and payments technology, its NYCE® Payments Network and MasterCard today announced a licensing agreement that will make MasterCard’s EMV debit solution available to all NYCE participants. EMV chip card adoption is a common goal of the U.S. payments industry, designed to increase card transaction security and decrease card-based fraud. This agreement provides all NYCE Network participants with an EMV license with respect to MasterCard products and continues the advancement toward a secure payment environment.
Monitise made a series of updates to its executive leadership team and Board of Directors.Former Visa Inc. payments executive Elizabeth Buse has been appointed co-Chief Executive of Monitise Group, effective immediately. Elizabeth also joins the Company’s Board of Directors.Elizabeth, an American national who was a member of the Monitise Board from July 2010 to October 2012, will head Monitise’s day-to-day operations, overseeing technology, product, sales and marketing while Alastair focuses on key relationships with partners and industry stakeholders, corporate development and major shareholders. Strategy will continue to be set by the executive leadership team in conjunction with the Board. Monitise’s growing ecosystem of partners and clients includes more than 350 banks, payment services companies such as Visa Inc., Visa Europe and MasterCard as well as Vocalink, FIS and IBM. In the mobile space, Monitise’s customers include Telefónica, Samsung, PCCW Mobile, Turkcell and BlackBerry. In the retail ecosystem they include brands such as Blackhawk Network Holdings with its network of more than 500 content providers operating in the US and 18 other countries, eBay, Turkey’s Bilyoner and Biletix, Venda, B&Q, Carphone Warehouse and Premier Inn. Elizabeth’s appointment comes after she stepped down from her role running international operations at Visa Inc. in March 2014 as Executive Vice President of Solutions. She joined Visa Inc. in 1998 and during her time there held roles including Group President of Asia Pacific, Central Europe, Middle East and Africa, Global Head of Product, Executive Vice President of Product Development and Management and Executive Vice President of Emerging Markets & Technologies.
The four major global payment card networks: Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS), (excluding Visa Europe, CUP and JCB), were flat year-on-year (Y/Y) in Spending Per Card (SPC) during the first quarter of 2014 (Q1/14), according to CardData.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced a new designation for consumer reloadable prepaid products in the US, aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. The designation was developed in conjunction with industry thought leaders the Center for Financial Services Innovation (CFSI) and The Pew Charitable…
Sam’s Club today announced a credit card cash back program that gives members the opportunity to earn 5 percent cash back on fuel, 3 percent cash back on dining and travel, and 1 percent cash back on all other purchases, up to $5,000 annually. The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity.