First Data at Money2020 unveiled its “Clover Station” POS and business management solution for merchants. With the security and reliability of a terminal coupled with the flexibility of a cloud-based POS, Clover Station is the first solution to meet the complete spectrum of small to medium-sized business owners’ needs. First Data and Clover Network partnered to jointly develop the “Clover Station,” powered by intuitive, cloud-hosted software that comes with everything a business owner needs in one convenient package and is ready to work right out of the box. With its small footprint and state-of-the-art design, Clover Station hardware won’t take up a lot of space on a merchant’s counter, but will have a big impact on how they service their customers. First Data piloted the Clover POS solution with hundreds of small businesses in several U.S. cities. Feedback from the pilot indicated that business owners valued the benefits of the Clover solution through streamlined business operations and more time to interact with their customers. Clover Station will be made available to Bank of America Merchant Services small business customers by the end of 2013.
SmartMetric President & CEO Chaya Hendrick is in advanced stages for release of its fingerprint activated “biometric” payments card for use in North America. The biometric payment card is the only such card in the world affording the high level of identity and transaction security of biometrics built inside the card. The persons fingerprint is used to activate the card using the cards inbuilt fingerprint reader thereby allowing for card based biometric identification and card “turning on” using the cardholders fingerprint with the users fingerprint never leaving the card. The SmartMetric biometric card represents a giant leap in technological innovation that will be a game changing technology in the card industry according to the company President.
Ceridian announces that Borbet Alabama, a leading automotive manufacturer, went live on Dayforce HCM with Payroll, Workforce Management and Human Resources. Borbet Alabama is up and running with HCM capabilities that save time, control costs, engage employees and increase productivity. Dayforce HCM transforms human capital management from a collection of disparate systems reliant on fragile interfaces to a single, robust, real-time application with one employee record, one user experience and zero interfaces. Dayforce HCM enhances employee engagement and productivity, while greatly reducing administration time and costs. This single application includes Payroll, Workforce Management, Benefits, and Human Resources. Dayforce Payroll enables employees to view, edit, fix and preview payroll in real-time, enabling employees to be compensated accurately and on time, and eliminating batch processing and trial runs. Dayforce Workforce Management allows managers to plan and forecast labor requirements, aligns schedules with labor demand, and allows for accurate time tracking and compliance.
Green Dot has named Grace Wang CEO, who joins from JP Morgan Chase. Most recently based in London, Wang held the position of Managing Director and Chief Financial Officer of Investor Services Sales for Europe, Middle East and Africa (EMEA) with JP Morgan. Prior to becoming CFO of that division, Ms. Wang held various senior finance and leadership roles at JP Morgan Chase since 2004, including EMEA CFO and Head of International Strategy and Business Development of the Treasury and Securities Services division. She will report to Steve Streit, Chairman, President and Chief Executive Officer and will assume her new role on November 18, 2013. She holds an undergraduate degree and MBA from Harvard University.
American Express Serve announced its nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account. It features Direct Deposit, Bill Pay, Mobile Check Capture, Personal Financial Management Tools, and Reserve, which allows customers to put money aside for future expenses. The Free Cash Load Network allows American Express Serve customers to take cash to the register at more than 14,000 participating CVS/pharmacy and 7-Eleven stores and add it to their American Express Serve Account on its own Vanilla Reload Network. The can also add their paycheck or government disbursements directly into their Account through Serve.com and use their smartphone camera to snap a photo of a check and add it directly into their Account using the Serve mobile app. American Express Serve will charge a monthly fee of $1 beginning December 3, 2013.
Fiserv launched its “Snap-to-Pay” capability for mbanking and payments solutions. Allowing users to pay bills quickly and easily with a snap of their smartphone cameras, “Snap-to-Pay” captures essential bill information, such as the company to be paid and the amount due, which is then used to automatically populate the appropriate fields on the smartphone screen. Snap-to-Pay leverages mobile imaging technology from Top Image Systems™ (TIS™), which enables mobile devices such as smartphones and tablets to accurately capture information from documents of all types and sizes. Snap-to-Pay allows consumers to set up a new biller to be paid, pay their bill and enroll in electronic bill presentment if they would like to have future bills delivered to their account as e-bills. Users save time and can avoid frustrating input errors because the functionality eliminates the need to tap in large amounts of information on the phone keypad, making bill payment a “snap.”
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 5.5% in August from last year to an adjusted $848B from 842.5B, continuing to erase all positive momentum seen in 2013. Continuing to grow, the August revolving credit outstanding is still not as high as the 2008 figure of $1trillion and is…
Cypress Semiconductor announced Ezetap mPOS solutions is using Cypress’s “CapSense Express” controllers in the world’s first capacitive-touch-based PIN-pad in its new MPOS device. The CY8CMBR2016 matrix keypad solution provides the Ezetap MPOS device with a durable user interface, helping it to pass all of the stringent EMVCo and PCI global certifications required for PIN entry devices. Consumer electronics and home appliances have rapidly been transitioning from mechanical buttons to capacitive touch controls. The EMV and PCI certifications are extremely strict due to the need to protect customer PINs against a broad range of attacks, while ensuring compatibility across a range of payment cards. Ezetap was able to go from concept, to certification, to manufacturing in less than a year.
Online identity proofing service miiCard introduced a number of new customers within the financial services industry across a wide range of applications that collectively demonstrate the continued need and push for trust online. Named customers include Allre, Xpenditure, ClearAccount, Bittylicious, and btcQuick. Announced from the emerging payments and financial services conference Money2020, these new customers highlight miiCard’s ability to prove a consumer’s online identity to the level of an offline photo ID check, purely online and in just minutes. miiCard will verify user identity for new Bitcoin exchanges Bittylicious and btcQuick to the level of Anti-Money Laundering and Know Your Customer standards. As Bitcoin exchanges continue to move more mainstream, identity verification is a critical part of meeting these compliance standards. miiCard confirms identity and certifies official bank statements for a number of next generation banking services, including the ClearAccount overdraft protection service and expense management company Xpenditure.
Early Warning fraud prevention with its equity investment and commercial agreement through Payfone. Early Warning will now provide carrier-based device and account owner identity authentication combined with unrivaled financial transaction and identity data, ensuring a secure and seamless mobile experience for financial services customers. Mobile devices are becoming a proxy for identity. By integrating with the network-based authentication capabilities of tier one mobile carriers via Payfone, Early Warning will provide a deterministic level of mobile identity that far surpasses traditional and device-centric authentication measures. By leveraging the same SIM card-based network authentication that mobile operators use to secure their own services, Early Warning can verify account logins and financial transactions with more precision and convenience.
TSYS signed a contract extension with MainStream Merchant Services and will continue providing a full range of services to include authorization/capture and clearing/settlement, as well as bank identification number (BIN) sponsorship. MainStream Merchant payment processing processes more than $1 billion annually in credit card transactions.
Mocapay mobile marketing and payments solutions launched customized mobile program for Denver-based Udi’s Cafés and Restaurants. The new Udi’s branded mobile app will allow Udi’s to issue loyalty and reward benefits to its customers. Udi’s is taking advantage of Mocapay’s mobile marketing to keep customers informed and to allow store managers to bring added value to Udi’s guests. The branded app will offer a full range of loyalty and reward benefits such as Udi’s loyalty program; Ability to earn valuable points; Automatic delivery of earned digital currency; Easy and secure redemption of rewards and offers; Ability to view account activity; Locator to pinpoint the closest Udi’s location and the ability to manage and update an account. The loyalty program rewards one point for every one dollar ($1.00) spent. For every 100 points earned the consumer receives a $10 gift card to spend at Udi’s Restaurants.