USA Technologies wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, introduced its streamlined Integrated Payment Services model, USAT’s newest approach to serving the needs of today’s more complex vending businesses. As an evolution of USAT’s market leading ePort Connect service, Integrated Payment Services extends ePort Connect across multiple aspects of a self-serve business to position operators for better business efficiencies, reduced cost and a heightened customer experience. This includes traditional vending, micro-markets, office coffee services and direct store deliveries, dining Services and back office/online payment.
AnywhereCommerce, a global payments technology provider, has named Debra McAteer as vice president of sales for US resellers and ISOs. McAteer will oversee the company’s channel initiatives, and work directly with AnywhereCommerce’s network of merchant acquirers, ISOs and payment processors across the country. Prior to joining AnywhereCommerce, McAteer served as vice president of sales for major accounts at Equinox, where she spent the past 13 years. Prior to her time at Equinox, she served in sales capacities at Linkpoint, and at First Data.
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.
DFC Global serving primarily unbanked and under-banked consumers has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds (“Lone Star”) in a transaction, including the assumption of net debt, valued at approximately $1.3 billion. Upon completion of the transaction, DFC Global will become a privately held company. Under the terms of the agreement, DFC Global stockholders will receive $9.50 in cash for each share of DFC Global’s common stock they own. This represents a premium of approximately 5.8% to DFC Global’s closing stock price on April 1, 2014, and a premium of 12.3% to DFC Global’s 30-day volume weighted average stock price for the period ended April 1, 2014. The agreement was unanimously approved by DFC Global’s Board of Directors. The transaction is subject to customary closing conditions, including receipt of stockholder approval and certain approvals from both U.S. and foreign regulators. Competition-related approval requirements are expected to be limited in number. The acquisition requires the affirmative vote of the holders of a majority of the outstanding shares of the Company’s stock, which will be sought at a special meeting of stockholders. The transaction is expected to close in the third calendar quarter of 2014.
Cardtronics, Inc. has extended its ATM services agreement with Walgreens. Cardtronics is a preferred provider of ATM services for Walgreens. Since the relationship began in 2004, Cardtronics has grown its ATM presence in Walgreens locations significantly — from fewer than 400 initially to roughly 3,250 today. The company is also the exclusive ATM provider for Walgreens in many states across the U.S.
Infobip mobile messaging and payments services has been credited with PCI DSS compliance certification. This is confirmation that Infobip’s SSMS complies with the stringent data security standards set by the payment card industry for handling sensitive financial information. Infobip works closely with financial institutions and banks. Its service platform processes over 1 billion transactions a month and complies with a wide range of global security requirements, offering VPN tunnelling, data masking, encryption and geo-redundancy to guarantee the highest possible levels of security and reliability. Infobip was validated as a Level 1 service provider, which is the highest security category in the PCI DSS standard. It means that compliance was validated by an external organisation, as required by PCI DSS for service providers that process more than 300,000 transactions per year. Infobip was found to be one of the few companies of its kind to fully comply with the PCI DSS requirements.
[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…