Citi Retail Services signed a multi-year renewal of its U.S. private label credit card relationship with Sunoco. Citi and Sunoco will continue to improve the customer experience and focus on growing the Sunoco-branded card programs Citi issues in partnership with Sunoco. Citi will also leverage its extensive data analytics capabilities and credit marketing services to further grow sales. Credit products that Citi issues for Sunoco include the Sunoco Rewards Card for consumers and the Sunoco Corporate Card for commercial customers.
MasterCard and Green Dot partnered to allow U.S. cardholders with MasterCard “rePower”-enabled prepaid cards to reload their cards via the Walmart Rapid Reload™ service. Walmart Rapid Reload utilizes the Green Dot® Network to provide cardholders with a fast and easy way to load funds directly to their cards by swiping their cards at any register at participating Walmart stores (not available in VT or WY). Cardholders can add funds directly to their prepaid account by using cash or a pre-printed payroll or government check. Cashier-added funds will be available for use by MasterCard rePower-enabled cardholders within minutes. The MasterCard rePower network is open to any MasterCard issuer of reloadable prepaid card programs.
CashStar launched a new gift card program with American grill and sushi bar, Kona Grill, replacing its existing gifting platform with CashStar’s solution. CashStar now powers Kona’s plastic and digital gifting programs, and also gives Kona gift card purchasers and recipients enhanced mobile experiences. Kona Grill’s mobile-optimized purchase pages make buying eGift cards on-the-go via a smartphone simple and easy. Recipients with iPhones or iPod Touch devices running iOS 6 or newer can easily store and redeem eGift cards in Apple’s Passbook app.
Green Dot Corporation announced that its subsidiary bank received required regulatory approvals from the Board of Governors of the Federal Reserve System and the Utah Department of Financial Institutions related to the pending acquisition of the legacy Walmart MoneyCard Portfolio from GE Capital Retail Bank. The consummation of the transaction is subject to closing conditions, including the Department of Justice’s required 15-day waiting period.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs are up .1% since August to 15.05% after averaging a meager .04% change over the past year. This stifles the momentum to the ebbing 2013 APR credit card averages and is the first time APRs have been over 15% the entire year. This also follows a relatively…
Ally Bank expanded its Ally Mobile Banking app to include two new offerings designed to help customers conveniently access and manage their money on the go. Customers can now use their smartphones to send and receive Popmoney payments as well as make recurring electronic fund transfers between Ally and non-Ally bank accounts. Popmoney, a payment service that allows customers to electronically send money to other people, offers a convenient alternative to sending cash or checks to friends and family or to pay service providers. The service allows Ally Bank customers to send money to anyone in the U.S. who has a U.S. bank account – the recipient does not need to have an Ally Bank account. Popmoney has been available to Ally customers since 2011. In addition to using their smartphones for regular Popmoney transactions, users will now be able to view scheduled payments and payment history as well as set up and manage Popmoney contacts in Ally Mobile Banking.
Fiserv multi-asset post-trade processing solution, TradeFlow, is now available for financial institutions operating on Red Hat® Enterprise Linux®, the leading global provider of open source enterprise-class technology. TradeFlow for Linux is designed to meet the demand from wealth managers for secure and scalable financial solutions designed for an open source technology stack. TradeFlow for Linux allows wealth managers to minimize trading risks, reduce operating costs and enhance efficiency across a number of post-trade activities, including trade capture, data enrichment and management, confirmation and affirmation, as well as settlement and clearing. The solution integrates support for central counterparty clearing of OTC derivatives through MarkitSERV, and facilitates the automated import of Standing Settlement Instructions from Omgeo ALERT.
WorldPay alternative payments and Telenor Business Internet Services AS forged agreements by which WorldPay handle payment transactions for Telenor Business Internet Service’s Software-as-a-Service (SaaS) offering. Telenor Business Internet Services AS selected WorldPay to provide its payment gateway, acquiring services, alternative payment acceptance, and risk management services. WorldPay will support Telenor Business Internet Services AS as the company increases its global SaaS footprint, first in Hungary with the launch of the Telenor cloud service solution which launched on the 29th of October 2013. WorldPay was selected for the company’s well-established global reach, both with the range of local payment types enabled and the ability to accept and settle transactions in multiple currencies.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Consumers are laying off paying down old debt and aggressive discounting incentivized consumers, modestly boosting spending on core retail sales. But job and income growth having slowed, in conjunction with the recent government shutdown, slowed confidence in a growing economy. Moreover, weak wage growth implies that the personal savings rate likely…
Chase and United Airlines will again kick off the holiday season with a VIP Lounge experience, where Chase United MileagePlus Card members relax and take a break from shopping in two United hub cities: Short Hills, N.J., and San Francisco, CA. From November 23 to December 24, 2013, Chase United MileagePlus Card members are welcome-along with up to three guests-to visit the VIP Lounges at two major malls that features refreshments, gift wrapping, bag and coat check, café seating, flat screen televisions as well as periodic special events exclusively for cardmembers. The VIP Lounges will be located in the Westfield San Francisco Centre, CA, and The Mall at Short Hills, N.J., located just miles from Newark Liberty International Airport, this holiday season. United MileagePlus Club Card members receive exclusive benefits, such as United Club membership; Premier Access travel services; First and Second checked bags free with the purchase of a ticket; No foreign transaction fees; and Luxury hotel and resort collection, while United MileagePlus Explorer Card members receive even more special privileges.
Fiserv has been named a finalist for the Innovative Applications in Analytics Award, presented by The Institute for Operations Research and the Management Sciences (INFORMS). Other finalists include Ford Motor Company and IBM, with the winner to be announced at the Spring 2014 Analytics Conference in Boston, Mass. Analytics and Business Intelligence Services from Fiserv helps financial institutions harness the power of data in financial systems to improve decision making, manage cost proactively, drive revenue growth and reduce customer attrition.
MasterCard (MA) and Green Dot (GDOT) announced an expanded relationship that allows all U.S. cardholders with MasterCard rePower-enabled prepaid cards to reload their cards via the Walmart Rapid Reload service. Walmart Rapid Reload utilizes the Green Dot Network to provide cardholders with a way to load funds directly to their cards by swiping their cards at any register at participating Walmart stores. Cardholders can add funds directly to their prepaid account by using cash or a pre-printed payroll or government check. Cashier-added funds will be available for use by MasterCard rePower-enabled cardholders within minutes.