Informatica Corporation (INFA) data integration software announced that the Western Union Company has made Informatica the data integration provider for its internal data initiative. Data insights are helping Western Union continue to enhance its digital service offerings, maximize customer satisfaction and improve brand loyalty across the many facets of its global operations. In 2013, Western Union completed 242 million consumer-to-consumer transactions worldwide and 459 million business payments, equating to more than 29 transactions per second, on average.
The MoneyPass Network is celebrating another year of increased growth with a contest for cardholders. The MoneyPass “Caught Without Cash” contest gives cardholders an opportunity to win one of two weekly $100 drawings and a grand prize of $1,000. The “Caught Without Cash” contest runs through June 1, 2014. Contestants enter by sharing a brief story about a time they were caught without cash when it was needed, such as paying a babysitter or shopping at a farmers market. Two $100 winners are drawn each week during the contest. Entries can be voted on by visitors to the contest site and one entry will be chosen from the top ten entries as the grand prize winner at the end of the contest. MoneyPass participants are encouraged to promote the contest to cardholders as a way to increase awareness of the benefits of MoneyPass access.
Contactless payment card shipments accelerated globally in 2013, according to figures released today by the Smart Payment Association (SPA). The SPA reports that contactless technologies were present on 37% of all smart payment cards shipped in 2013. By far the greatest increase was experienced in the Asia Pacific region, where contactless shipments grew by a staggering 193 percent compared to 2012. Other regions around the globe experienced strong growth rates, ranging from 45 percent in the Americas to 64 percent in Western Europe. Whether in the form of a ‘tap-and-go’ credit or debit card or contactless payments via a smartphone, growing consumer and retailer hunger for the convenience and opportunities presented by contactless payment accounts for this rapid growth. In 2013 more than 450 million contactless cards were delivered by SPA members in over 30 countries worldwide, demonstrating that the full potential for consumers, providers and retailers is now being realized. More than 1.5 billion cards were shipped last year, with the highest increased once again recorded in the Asia Pacific region (up 75 percent) driven largely by China’s migration to chip based payments and the initiation of EMV in India. EMEA’s strong growth of 12 percent was in part driven by SEPA rules which enforce chip and PIN and the growth of EMV in Russia. A substantial 37 percent growth in North America reflects the completion to EMV by Canada and the escalating migration to EMV currently underway in the USA.
Xoom Corporation announced a major upgrade to its App that allows Xoom customers to sign up and send money from their mobile devices to friends and family members instantly at the outset. Now, in a few simple steps, Xoom’s new App release allows money senders to sign up and send money to someone new for the first time — in addition to any existing recipients — using iOS or Android mobile devices. To send to new recipients, users provide information about how much to send, recipient details and method of payment and then the money is on its way. Repeat Xoom customers continue to enjoy the Xoom App for best-in-class mobile money transfer. In the 12 months ending March 31, 2014, Xoom processed $1.5 billion in mobile volume and in Q1-2014, 45 percent of Xoom transactions were sent via mobile devices.
Veracity Payment announced its acquisition of Vanco Services electronic payment solutions to faith-based organizations, healthcare organizations, financial institutions, nonprofits, schools, municipalities and other entities.
As part of the acquisition, Veracity and Vanco will be rebranded as “Vanco Payment Solutions.” Vanco processes both credit card and ACH transactions on its robust payment platform. The platform not only supports Vanco’s own proprietary suite of online, mobile, in-person and batch payment solutions, it also provides the back office credit card, debit card and ACH processing for more than 60 different software companies via web services integrations. In addition, Vanco systems enable the end-to-end electronic transfer and posting of consumer bill payments initiated anywhere on the nation’s highly fragmented network of online banking sites – payments that would otherwise be sent by check and require manual intervention. The two organizations now serve a combined total of more than 38,000 clients nationwide and process more than $11 billion in electronic payments. They also collectively support over 200 client partners that include financial institutions, affinity and trade associations, professional services and independent software vendors/developers.
Vantiv, Inc. announced an agreement to acquire Mercury Payment Systems, LLC for an aggregate price of $1.65 billion. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake, a global leader in technology investing.
Visa (VS) and MasterCard (MC) debit card activity edged up in the first quarter, as Gross Dollar Volume (GDV) on U.S.-issued debit cards increased 7.0% year-on-year (Y/Y), according to CardData. In the first quarter of 2014 (1Q/2014), VS’ U.S. debit card GDV was up 6.4% Y/Y to $408 billion, while MC’s U.S. debit card GDV increased 9.0% Y/Y in 1Q/2014 to $174 billion. MasterCard debit cards have been growing above 9% Y/Y for the past four quarters.
JUSP announced it is teaming with Nokia as the first provider of a chip-and-pin mPOS solution to the Nokia Lumia smartphone. JUSP’s solution also works with Windows-based PCs as well as smartphones and tablets running Windows, iOS and Android making it an all-encompassing mPOS solution for both micro merchants and small- and medium-sized retail outlets. JUSP’s mPOS device and operating system flexibility, along with the chip-and-pin security and the all-inclusive pricing launched recently by JUSP, makes it extremely easy, convenient and secure for retailers of all sizes to charge customers using whatever means they choose.
First Data released its First Data SpendTrend analysis for April 2014 compared to the year ago period, tracking same-store POS data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million merchant locations serviced by First Data.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fiserv is helping its clients transition to EMV cards with an integrated, compliant and cost effective path to EMV-enabled debit and credit card issuance. With this unsurpassed experience and expertise Fiserv can guide clients through every step of the migration process “from analyzing their payment card portfolios to optimizing penetration, activation…
Giesecke & Devrient secure payment products and solutions developed and deployed an EMV solution that allows a debit card to meet Durbin Amendment requirements while supporting bank, merchant and consumer needs. As an active member of the Smart Card Alliance’s EMV Migration Forum (EMF), G&D was an integral force in these discussions. Following the EMF’s recommended solution and leveraging decades of experience in developing highly secure payment products, G&D’s EMV debit card products and services offer the most advanced payment deployment, providing extensive functionality to support all of the latest specifications from the major payment brands. A chip embedded in a card serves to provide a higher level of security when compared to present-day magnetic stripe only cards, protecting cardholder data and information stored on the chip. Unlike static magnetic stripe cards, chip cards contain an operating system and support dynamic authentication. Every transaction requires new values produced by the chip to be delivered. Utilizing chip card technology will be seamless to the customer, though they will now be able to execute EMV transactions using a debit card.
FIS banking and payments technology, consulting and outsourcing solutions, continues to provide companies innovative and robust solutions to mitigate risks across their organizations. In response to increasing regulatory demands to enhance enterprise risk management and regulatory compliance, FIS offers Early Risk Manager to financial institutions. Early Risk Manager is a turnkey, secure, cloud-based, next generation solution specifically tailored for financial institutions with a risk dashboard, pre-populated library of risks, risk scenarios, controls, risk assessment templates, metrics, key risk indicators (KRIs), key performance indicators (KPIs), issue management tools, compliance monitoring and testing, third party risk management and more.