JetPay® Corporation and its payments division, JetPay Payment Services, will be presenting two new JetPay solutions — OneCall™ and JetPos™ — at Transact 14, the Electronic Transaction Association’s (ETA) 2014 annual convention. Both solutions are designed to help merchants and ISOs increase their bottom line. JetPay’s OneCall™ program, a certified American Express® OptBlue™ participant, has been live since November, 2013. JetPos™ is the other new JetPay product being introduced. JetPos™ is a specialty payment product designed for the restaurant industry.
American Express OPEN, the small business division of the financial services company, and Intuit, announced the launch of ReceiptMatch with QuickBooks. This mobile and desktop integration is designed to help small businesses seamlessly sync Business Card expenses with QuickBooks, helping to alleviate end-of-the-month pileups of expense receipts. ReceiptMatch, the mobile app and web-based service that launched last year, helps small business owners reconcile receipts with their American Express Business Card online account on-the-go. The new feature will close the gap between the time when the Business Card is swiped for a purchase and the expense is entered into QuickBooks. This will mark the first time a Business Card will be integrated directly into QuickBooks. Moreover, as businesses rely on their Business Cards to make large ticket purchases, the integration will help make for a faster and easier accounting process.
First Data and MasterCard announced an agreement in which First Data’s STAR® Network will participate in MasterCard’s common U.S. Debit EMV solution. This agreement provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S. EMV/ chip cards better protect account information from fraud because they have dynamic data, rather than the static data stored in the magnetic stripe. By working together, MasterCard and First Data will deliver enhanced choices in how debit card issuers identify and apply multiple network relationships to ensure Regulation II compliance in a cost-effective way. Merchants and acquirers will continue to route transactions as they prefer, without costly host systems reprograming.
The ATM Industry Association (ATMIA) announced the creation of a new U.S. Underbanked Forum, to help foster development and deployment of ATM solutions addressing the needs of the unbanked and underbanked. Although explosive growth in the use of mobile devices for payments and banking services has dramatically improved consumer accessibility, there is still a need for more options that are not tied to traditional bank accounts.
Fiserv announced Texas Bay Area Credit Union (TBACU) has selected an integrated suite of payment solutions including debit processing, full-service credit processing, the Accel™ debit payments network, UChoose Rewards® and Risk OfficeSM, to help improve its operational efficiency, consolidate vendors and enhance the financial experience for members. In addition, TBACU also selected DNAweb™ for commercial online banking from Fiserv. Fiserv will help grow and enhance the performance of its credit and debit card portfolios. Also, the ability for TBACU to integrate its card portfolio into its existing DNA™ account processing platform was key in the selection of Fiserv. TBACU has used the DNA account processing platform since 2006.
Jeremy C. Stein submitted his resignation Thursday as a member of the Board of Governors of the Federal Reserve System, effective May 28, 2014. Stein, who has been a member of the Board since May 30, 2012, submitted his letter of resignation to President Obama and plans to return to his teaching position in Harvard University’s department of economics.
VeriFone announced five devices in its “PAYware Mobile” line of EMV- enabled mPOS devices have been approved by the Visa Ready Program. The program is designed to ensure that devices, software and solutions used to initiate or accept Visa payments are compatible with Visa’s requirements. By adopting “PAYware Mobile” devices that are Visa Ready approved, merchants enjoy the benefits of secure electronic payment acceptance from virtually any location. PAYware Mobile solutions from VeriFone are innovative mPOS devices that enable retailers and merchants to extend the POS to new environments. PAYware Mobile devices feature universal, PCI compliant mPOS adapters that transform smartphones and tablets into completely secure devices that can accept contactless, chip and PIN and traditional mag-stripe card payments. Some devices also accept NFC payments and feature high-end barcode scanning for additional functionality such as remote inventory management, checkout and access to product information.
Equifax Inc. today announced its partnership with Jumio, an industry leader in the mobile commerce space that specializes in payments and ID scanning and validation products for mobile and web transactions. The companies will be working together in developing a series of solutions that will create a more streamlined, secure mobile transaction process for both consumers and retailers. The solutions will also be integrated with the Equifax Mobile Wallet functionality, allowing consumers to access their cards on their mobile device to use for purchases. Shoppers can choose to either scan their credit card with their smartphone, or utilize their smartphones in-store at the checkout counter to complete the transaction.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] DFC Global services to the unbanked and under-banked consumers announced preliminary 3Q/14 total consolidated revenue expected in the range of $248.0 to $252.0 million. DFC reduced its guidance for fiscal year 2014 to adjusted EBITDA between $151.0 and $156.0 million, as compared to its previous range of between $170.0 million and…
American Express is now accepting applications for the new Amex EveryDay Credit Card, which was announced at last month’s Oscars. To celebrate, the company is launching a year-long campaign to shine a spotlight on America’s #EveryDayMoments – from quality time with the kids to a night out with friends. The campaign kicks off with a Mother’s Day “selfie & snapshots” photo contest with an epic prize – a getaway to NYC for 50 winners and their guests (100 total). American Express will continue to recognize and reward consumers for sharing their #EveryDayMoments throughout the year with a series of special, themed contests, sweeps and unique experiences, like a live concert with Maroon 5 streamed nationally on June 20, 2014, and a soon-to-be-announced Father’s Day Sweeps. The Amex EveryDay Card is a no-annual-fee Credit Card that puts a twist on the traditional rewards program; it rewards Card Members for how often they shop, and not just how much they spend. Use the Card 20 or more times on purchases in a billing period and earn 20% extra Membership Rewards® points on all those purchases less returns and credits. *Terms and limitations apply
Payments Space Advisors, a joint venture subsidiary of NEACH and EastPay, has announced its inaugural Board of Directors. Payments Space Advisors was recently formed by the two Regional Payments Associations to provide a broad spectrum of payment systems risk management, compliance, and consulting services to financial institutions and businesses. The new Board of Directors includes Chairman: Albert Rietheimer, CPA, SVP, CFO & Treasurer, Steve Madden, Richard Oliver, David Brock, Laurance Selnick, and Pam Rodriguez, AAP, CIA, CISA, Executive Vice President of EastPay.
FirstCapital Bank of Texas now offers live teller service 24 hours a day, five days a week and will soon expand that to 24 x 7 service through interactive video software from NCR. With NCR APTRA™ Interactive Teller, a live teller takes remote control of the device while on video chat over its screen. FirstCapital’s interactive tellers work out of the Lubbock, Texas branch and can support customers at any of the bank’s 10 Interactive Teller kiosks. The latest Interactive Teller unit went live March 19, as part of the bank’s new branch opening in Amarillo. FirstCapital worked hand-in-hand with NCR and FTSI. FTSI is one of NCR’s largest financial services solutions partners, serving Texas, California and the Pacific Northwest since 1998. FirstCapital’s Interactive Teller units are available both in lobbies and drive-thru banking.