US Dataworks payment processing appointed John Penrod as our new CEO and Chairman of the Board. The key metrics that we follow are growth in monthly transaction and recurring revenue, particularly in the cloud, average price per transaction and operating income. Our monthly recurring revenue for fiscal 2014 experienced double-digit growth over the prior fiscal year. Our average price per transaction for calendar year 2014 has more than doubled when compared to calendar 2013, as our customers benefit from the added value of NextGen Receivables, and our operating income is positive. As a non-reporting public company, we continue to perform annual independent audits for the twelve months ending March 31st.
i2c announced that Jifiti- allowing consumers to turn physical goods into digital gifts- is using its platform for open-loop prepaid processing.Jifiti was created to make gift giving more thoughtful, flexible and convenient. The app allows a user to select an item in the app or in-store by scanning a bar code and send it digitally as a gift to any recipient via e-mail, text or Facebook. The recipient can select their ideal size and color or choose an entirely different item to redeem. Users can also add products to a wish list which others can purchase for them individually or by chipping in as a group.
Heartland Payment Systems has unveiled a new brand identity. The new branding initiative better reflects Heartland’s dramatic evolution from a small debit and credit card processor to a leading national business solutions provider serving a range of industries from retail to restaurant, parking to petroleum, to higher education, lodging and hospitality. The key to Heartland’s continued success is its unwavering commitment to building long-term customer relationships based on a commitment to trust and transparency. The company’s Merchant Bill of Rights sets the industry standard for public advocacy of business owners for fair credit and debit card processing practices. This commitment to customers, coupled with Heartland’s continued investment in developing and bringing solid solutions and innovation to market, is at the heart of the company’s business philosophy and brand.
The four major U.S. payment card networks produced a 2.2% 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 $203 billion in U.S. CDV, compared to $193 billion in the year ago quarter.
MasterCard has entered into an agreement with Opus Software Solutions Pvt Ltd to acquire its subsidiary, ElectraCard Services Pvt Ltd (ECS), a provider of software solutions and processing services for electronic payment and card systems. This transaction is anticipated to close in the second quarter of 2014. MasterCard previously had a minority investment in ECS. ECS is a leading provider of software products and processing services for electronic payments. Its customer base includes financial institutions, retailers and telecom companies in over 25 countries globally. Its products enable customers to issue and manage all types of payment cards and electronically process card transactions across multiple channels such as ATM, POS, Internet and mobile.
Heartland Payment Systems is introducing Heartland Secure comprehensive credit/debit card data security solution. Featuring a breach warranty, this innovative solution is designed to provide merchants with protection against POS intrusions, crimeware, miscellaneous errors, insider misuse and other common sources of card-present data fraud by eliminating the opportunity for criminals to monetize card data. Heartland Secure combines EMV electronic chip card technology, its E3 end-to-end encryption technology, and Tokenization technology. Based on data provided by the Open Security Foundation and RiskBased Security, the Online Trust Alliance’s (OTA) 2014 Data Protection and Breach Readiness Guide2 states that more than 823 million records were exposed in 2013, including credit card numbers, email addresses, log in credentials, social security numbers and other related personal information. OTA estimates that 37 percent of these breaches were the result of actual hacks, and another 31 percent were due to lack of internal controls, which enabled accidental or malicious events.
Allied Wallet online credit card processing was awarded a top 10 position on Fortune.com and Money.CNN.com as one of the Best Workplaces for Millennials in the world. Allied Wallet was reviewed and surveyed by Great Place to Work, the global authority on high-performance workplace cultures, and awarded the #3 spot on the Best Workplaces for Millennials list for their ability to promote a productive and rewarding work environment. The companies on the Best Workplaces List were notable for their practices that make young employees feel comfortable and excited about work through meaningful and ethical business practices and generous compensation and benefits. Allied Wallet provides this type of high-trust, positive environment for their team, rewarding employees with vacations, new cars, special events, catered lunches, and amazing benefits and packages that promote their well-being as well as growth in their trade or skill-set.
ChannelAdvisor cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, today announced that CEO Scot Wingo will present at the upcoming IRCE Focus: Brands & B2B conference taking place May 18-20, 2014, at the Jacob K. Javits Center in New York. Wingo will co-present a session titled “Amazon: Friend or Foe?” on Tuesday, May 20, at 12:45 p.m. EDT. The session will focus on the numerous opportunities for brands to successfully sell through Amazon. IRCE Focus: Brands & B2B will offer successful strategies for B2C, B2B and everything in between. Noteworthy speakers will come together to share their expertise and insights into what’s happening in the world of B2B and B2C e-commerce. This knowledgeable group will discuss strategies for brands, manufacturers, wholesalers and more to effectively manage direct-to-consumer relationships, channel complexity and digital marketing for brands.
TrustCommerce Point-to-Point Encryption (P2PE) payment solutions announced it is one of the first to achieve PCI DSS 3.0 validation. A Level 1 Service Provider, TrustCommerce deployed PCI DSS version 3.0 as the third major update to the PCI DSS. Reporting guidelines were made available in February 2014; however, existing PCI DSS 2.0 compliant vendors have until January 1, 2015 to move to the new standard. The changes continue to raise the level of best practices that govern the industry. The PCI DSS provides technical and operational requirements, standards, and guidelines for all entities that process, store, or transmit cardholder data, including issuers, providers, acquirers, merchants, and service providers. PCI DSS version 3.0 is intended to place even more emphasis on payment data security.
At the National Restaurant Association Show (NRA) , Epson America POS solutions and Lavu iPad POS for restaurants announced their partnership for more flexible iPad POS solutions to restaurant operators of all sizes. Lavu is the first Epson partner to adopt the Epson OmniLink™ i-Series all-in-one smart solution for receipt printing and peripheral device management for its iPad POS. Lavu will also leverage Epson’s market-leading TM-T88V and TM-U220B printers for receipt and kitchen printing. The two global market leaders are working together to deliver a cutting-edge solution that offers restaurant operators a trusted and innovative migration path to tablet POS. Epson’s OmniLink will serve as the peripheral device hub for the Lavu iPad POS platform enabling seamless and reliable connection and management of required POS peripherals, including credit card readers, barcode scanners, scales, and customer displays.
MoneyGram announces a new channel to transfer money to Mexico at an unparalleled speed – in just 30 minutes. The launch of this near real-time service provides customers with a fast and secure option to send funds through the trusted MoneyGram network. This new offering complements MoneyGram’s strong bank account deposit network in Honduras, El Salvador and Guatemala.
Andrew Gates, Director of Strategic Partnerships, and Heidi Young, Sales Director for RewardsNOW, Inc., will be speaking at THINK 14, CO-OP Financial Services’ annual credit union conference being held in New Orleans. The annual THINK conference is designed to assist credit unions in adapting to an ever changing consumer and competitive environment and covers topics such as innovations in member service, technology and branding and each year provides attendees with a variety of speakers and sessions that offer fresh perspectives and concrete solutions for them to bring back to their credit union.