BitPay business solutions for Bitcoin digital currency partnered to integrate bitcoin acceptance into VisualTouch. VisualTouch is a complete point of sale system that provides the advanced POS functionality needed for business management. VisualTouch POS is used in the Hospitality, Food Service, Grocery, Retail and Concession industries with a combined install base of more than 6,000 unique customers and some customers having up to 1,600 locations each. VisualTouch will use BitPay’s POS-integration solutions to grow bitcoin acceptance through brick-and-mortar retail locations that may have not considered bitcoin acceptance in the past.
Malauzai Software mobile banking SmartApps received a $6.48 million Round C investment led by Wellington Management Company. Malauzai currently supports more than 260 banks and credit unions, making advanced mobile functionality accessible to small and mid-sized community institutions. Through these institutions, SmartApps are leveraged by more than 300,000 consumers and businesses. The company has pioneered mobile features such as Picture Pay, Debit Card Management, 4-digit pin log-in and quick view of balance and transactions without the need to sign-in.Malauzai will use the investment to continue to grow the organization and expand the functionality of its SmartApps. The company also plans to deploy more resources around marketing and sales efforts to improve market presence.
The four major U.S. payment card networks produced a 7.7% year-on-year (Y/Y) gain in Gross Dollar Volume (GDV) during the first quarter of 2014 (Q1/14). Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS) produced $1.196 trillion in U.S. GDV, compared to $1.110 trillion in the year ago quarter.
The Conference Board Leading Economic Index® (LEI) was up 0.4% in April to 101.4 after a 1.0% increase in March and 0.5% increase in February. The LEI was up for the third consecutive month thanks in great part to housing and the financial market. The overall trend in the leading economic index suggests consumers will continue to spend and the economy is projected to expand.
Capital One Bank announced the appointment of Jim Gifas as Senior Vice President and Head of Treasury Management’s Product Management & Innovation Group. Gifas will lead all aspects of product management and development functions, including industry and segment strategies. Prior to joining Capital One Bank, Gifas served as Head of Treasury Solutions for RBS Citizens Bank, where he drove value for corporate clients through cash management, credit card, trade finance, and foreign exchange payment solutions. Gifas is an active member of the Payco Board of Directors for The Clearing House and the Corporate Executive Board for the Treasury Management Executive Circle. He has recently spoken at the 2013 Mobey Forum and the 2012 McKinsey & Co. Cash Management Forum on the topics of corporate mobile banking and improving the customer experience, respectively. He holds a Bachelor of Business Administration from Iona College.
Cardlytics Card-Linked Marketing has been honored as one of the Georgia Fast 40. The Georgia Fast 40 was founded in 2008 to honor companies headquartered in the state of Georgia that are achieving sustained growth over a three-year period. This year saw the largest pool of applicants in the history of the event, with over 100 companies submitting applications, which makes this recognition even more rewarding for Cardlytics.The Georgia Fast 40 recognition event will be held on June 19, 2014 at the Intercontinental Hotel in Atlanta.
The Dime Savings Bank of Williamsburgh announced the launch of its new mobile banking product, Dime Mobile Banking, which allows users to pay bills, transfer funds, and check on account status from the convenience of their smartphone.
In addition, the mobile deposit capability allows users to photograph their checks and then transmit the deposit to the bank through their mobile device. The free Dime Mobile Banking apps are now available at the Apple App Store and Google Play Store. For more details, please visit our website, dime.com. Dime will move into a full-scale branch rollout and market promotion. Featuring the headline “Say ‘Hello’ to your money,” branch promotional material and signage will make a colorful splash, announcing the arrival of Dime Mobile Banking. Dime Mobile Banking is a continuation of the Bank’s strategy to extend Dime’s eBanking platform to include online banking, mobile banking, bill pay and remote deposit, and to increase remote access usage with existing customers.
The four major U.S. payment card networks, Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS), produced a 3.2% year-on-year (Y/Y) gain in Spending Per Card (SPC) during the first quarter of 2014 (Q1/14), according to CardData.
Citi launched its Mobile Snapshot, allowing customers to view deposit and credit card balances and recent transactions without having to log into their accounts. This follows a successful beta test conducted with customers over the past three months. Citi banking and credit card customers who choose to enroll in Citi Mobile Snapshot will have instant access to their basic account information. The new feature will help enrolled banking and credit card customers monitor their accounts on-the-go by displaying balances and the 15 most recent transactions without requiring a log-in every time. The introduction of Citi Mobile Snapshot feature is part of the complete redesign of the Citi Mobile app launched earlier this year. The new app, enabled for iPhone® and Android™ devices, provides U.S. banking and credit card customers with new and enhanced mobile account management capabilities.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Logic PD engineers and designers addressed this real world challenge and uncovered new insights on how the Internet of Things (IoT) technology can help improve people’s lives during the Logic PD ACME-thon held in late April. The solution, a multi-modal security platform for card purchases, uses NFC authentication combined with camera…
ULUL is pleased to announce the qualification by GlobalPlatform of two new Collis Compliance Test Suites: GlobalPlatform SE Access Control Card and GlobalPlatform SE Configuration, which further enhances UL’s compliance test suite portfolio. The Collis Compliance Test Suite for GlobalPlatform Secure Element (SE) Configuration implements the official test plan developed for the GlobalPlatform Compliance Program. The test suite ensures the compliance of a Secure Element that implements the GlobalPlatform Card Secure Element Configuration specification which is based on GlobalPlatform Card version 2.2.1 technology. The Collis Compliance Test Suite for GlobalPlatform Secure Element (SE) Access Control Card Configuration implements the official test plan developed for the GlobalPlatform Compliance Program. The test suite ensures the compliance of an ARA-M applet on a Secure Element that implements the GlobalPlatform Access Control specification.
Javelin Strategy & Research released 2014 Retail Point of Sale Payment Forecast: The Mobile Payment Square-Effect and Prepaid Card Popularity Drive Cash Down by 10% report which evaluates the forecast changes in the retail POS market, tracking payments mix data from 2012 through the forecast year of 2019. Cash and paper checks dominated consumers’ wallets, with consumers using cash for smaller dollar-value transactions and selecting checks for big-ticket items. This trend has taken a dramatic turn, as consumers increasingly abandoned their traditional paper-based payments for card payments. From 2012 to 2013, cash dropped by 10% of volume of transactions, a total of $86B and is forecasted to drop further over the next six years. Cash is still the most commonly used payment option for in-store purchases, with 65% of all consumers using cash to make a purchase in the past seven days. The report details Javelin’s forecasts for total retail POS payments volume and analyzes share and transaction growth at the POS for credit cards, debit cards, cash, paper checks, prepaid cards, gift cards, and mobile proximity payments.