MasterCard Partnership Speeds NFC Development

At Mobile World Congress last week MasterCard announced a collaboration between Deutsche Telekom, Telefónica Deutschland, Vodafone and TREVICA (a MasterCard owned company) to create a new mobile platform and accelerate the development of mobile payments in Germany. The three mobile operators represent 80% of mobile customers in Germany, which means that banks and financial institutions can hugely accelerate their ability to provide mass- market mobile payment services to consumers. Instead of connecting to individual mobile operators, issuing banks can now connect to TREVICA and have access to a number of mobile operators with one single integration to the TREVICA platform.

Wave Crest Selected by Commissions2Go

Wave Crest Group Limited, a multi-currency digital payments platform that offers full-service, global solutions, has been selected as program manager and payments technology partner for Commissions2Go’s new commission distribution solution. In the new program, commissionable agents will register with C2Go at and receive a personalized C2Go card. C2Go clients can then pay commissions to the account in real time after validation through the C2Go web portal or via a mobile interface using QR codes identifying the recipient. Card recipients can use the C2Go card anywhere major card brands are accepted, or get cash at ATMs. C2Go handles all transaction reporting and 1099s on behalf of their entertainment clients.

Fiserv Gets Patent for Predictive Scores Solution

Fiserv, Inc. announced that it has been granted a patent by the United States Patent and Trademark Office for a non-sufficient funds (NSF) optimization process in its Predictive Scores(SM) solution. Predictive Scores allows financial institutions to analyze and identify the customers or members who are most likely to respond to marketing initiatives, optimizing the revenue potential of each customer or member by understanding which products and services they are most likely to buy. Through sophisticated analysis, Predictive Scores delivers highly targeted lists that improve marketing campaign results and increase the return on marketing investment.

First Data and Sterling Natl Bank Extension

First Data Corporation, the global leader in electronic commerce and payment processing, and Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), announced the companies signed a long-term extension for merchant services and solutions. With this new relationship, First Data will continue to distribute payment processing services and tools including innovative point-of-sale (POS) solutions such as Clover Station™, a reliable, easy-to-use, cloud-based business management solution for merchants.

Citigroup Adjusts Financial Results Thanks to Mexican Fraud

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citi is adjusting downward its 4Q/FY/13 financial results, from those earlier reported by an estimated $235 million due to fraudulent activity through its Mexican subsidiary. This will lower Citi’s 2013 net income from $13.9 billion to $13.7 billion. Citi subsequently intends to release a revised 4Q/13 Quarterly Financial Data Supplement. As…

Incomm Partners With MOL

InComm, a leading prepaid product and transaction services company, has entered into an exclusive arrangement with Money Online (MOL), one of Asia’s leading online payment service providers, to launch point-of-sale-activated (POSA) gift card mall solutions in Southeast Asia. MOL is majority owned by Tan Sri Dato’ Seri Vincent Tan, founder and majority shareholder of Berjaya Corporation, one of Malaysia’s largest conglomerates, which also owns the local rights to various retail brands such as Starbucks and 7-Eleven.

Discover Tops Loyalty Index

Discover card shared the top spot in the credit card category this year on the 2014 Brand Keys Customer Loyalty Engagement Index.® The index measures the degrees of loyalty that consumers exhibit toward their favorite brands. For the 2014 index, Brand Keys surveyed 32,000 consumers, ages 18 to 65, and examined 555 brands in 64 categories. Discover has held or shared the top Brand Keys ranking in its category for the past 18 consecutive years.

Dash mPayment Raises $1.2 million Seed Round

Dash mpayments platform that allows patrons to check-in, view, split, and pay their tab from the Pay with Dash smartphone app has raised $1.2 million in a Seed-2 round. Dash also released a iOS 7 update for the Pay with Dash app that incorporates location-aware BLE to automatically check-in patrons as they walk into a venue. Additionally, a stored credit system allows both Pay with Dash users and venues to pay with and offer credit that can be used towards any Dash tab. Pay With Dash launched last November in New York City with a mission to overhaul the traditional restaurant payment process to streamline a solution that allowed groups of friends to pay for restaurant bills and bar tabs seamlessly via their smartphones. With Pay With Dash, users can check in at any point while they’re at the venue to see their bill in real time as they place their orders. Pay With Dash effectively removes the need to ask for the bill at the end of the night and also eliminating the hassle of splitting the bill.

ACI Posts 4Q/13 Revenue Up 26% Y/Y

ACI posted 4Q/13 revenue of $283 million, up $59 million by 26% from the year ago figure. This was thanks in great part to new sales bookings up 25% while operating income was $86 million for the quarter, an increase of $10 million by 14% from 2012. Net income for the quarter was $50 million compared to net income of $50 million during the same period the prior year. Operating free cash flow in Q4 was $62 million, up from $24 million in the prior-year quarter.