TSYS Healthcare multi-purse benefit card processing introduced innovative and market-leading card functionality for Health Reimbursement Arrangements (HRAs), a key component of the consumer-directed healthcare (CDH) space. TSYS’ enhanced HRA functionality, coupled with technology-leading Web services capabilities, brings a complete, real-time HRA solution to the benefit market. With the implementation of the Affordable Care Act, employers and administrators must look for ways to provide new healthcare coverage options while reducing overall healthcare and administrative expenses. TSYS Healthcare’s new HRA functionality accomplishes both of these objectives by providing debit card access to HRA plans and incorporating a TSYS Healthcare Partnership Model for revenue sharing. TSYS developed a comprehensive solution that allows benefits administrators to provide debit card access to virtually all HRA plans.
MoneyGram signed an agreement to acquire Nexxo Financial’s full-service money transfer kiosk business and to become the preferred money transfer and bill payment partner for Nexxo Financial. MoneyGram will acquire approximately 200 kiosks primarily located in California, Illinois and Texas. These kiosks will offer automated, self-service money transfers to MoneyGram agents worldwide allowing consumers to pay bills utilizing MoneyGram’s bill payment network. The move to expand MoneyGram’s use of self-service channels is a strategy in line with recent statistics. The FDIC has estimated that 60 million U.S. residents do not use formal banking channels as the primary method for their day-to-day financial services. This points to a growing need for convenient and affordable means to transfer funds.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data reported its 2Q/13 consolidated revenue of $2.7 billion, up $24 million by 1%, compared to a year ago, primarily driven by a $29 million increase in reimbursable debit network fees, postage and other. For the second quarter, the net loss attributable to First Data was $189 million, compared to…
American Express, VEVO and YouTube announced Kings of Leon and Fred Armisen have been selected as the next pair in its popular live stream music series “American Express Unstaged.” Kings of Leon’s exclusive performance will be live streamed from Shepherd’s Bush in London at 4:00 PM ET / 1:00 PM PT on Friday, August 9 at www.amexunstaged.com directed by Fred Armisen. Fans can watch the live event on YouTube’s iOS and Android apps as well as its mobile website, VEVO’s free apps for iPhone®, iPad® and Xbox 360, and on the American Express Channel, available through the American Express app on LG connected TVs. The global event precedes the highly anticipated September 24th release of MECHANICAL BULL (RCA Records). The “American Express Unstaged” music series is a cutting-edge live event and interactive digital platform, bringing together popular musical artists with renowned film directors. Armisen, best known for his work on “Saturday Night Live” and as the co-creator and star of IFC’s “Portlandia,” will make his return to “American Express Unstaged,” this time as the director.
TransFirst, a leading provider of transaction processing services and payment enabling technologies, announces in conjunction with VeriFone Systems (PAY) that it now offers its merchant customers the EMV- and NFC-capable VX 520 countertop payment solution and VX 805 contactless PIN pad from VeriFone. TransFirst has added the two payment systems to its portfolio of supported systems after recently completing compatibility certification. VeriFone’s VX 520 is a reliable, rugged countertop device with a powerful processor and expandable memory designed to handle processing of card payments at lightning speeds. The VX 805 is a convenient payment device that allows merchants to process a range of transactions through multiple connectivity options and is ready for NFC mobile commerce and EMV.
A2iA (@A2iA) data capture, document processing, and payment systems markets, announced that A2iA Mobility, its patent-pending software toolkit that features offline image cleanup, analysis and data extraction, is being deployed to U.S.-based financial institutions as a component of DepositWizard Mobile, CFS Inc.’s mobile remote deposit capture (mRDC) application. Residing client-side on the phone or tablet, A2iA Mobility’s unique differentiator of being able to fully process a check without a server connection creates an intelligent handset and allows for DepositWizard Mobile to offer a turnkey, Check21 compliant solution that is quick and easy to use, scalable, and reduces operating costs for the banks and credit unions. DepositWizard Mobile can also interface with financial institutions’ risk management solutions and internal business rules, allowing for banks and credit unions to employ custom rules and unique parameters based on specific customer profiles, reducing the risk for fraud and gaining more control over the applications’ usage.
Payment Alliance International (PAI) and BB&T Corporation (BBT), one of the largest financial services holding companies in the U.S., have jointly announced an agreement to brand over 130 Rite Aid Corporation ATMs in the Atlanta area. While PAI will own and operate all of the ATM placements, BB&T customers will enjoy the familiar appearance of the BB&T brand on the ATM, as well as surcharge free access for their transactions. As one of the largest ATM networks in the United States, PAI provides ATM services for over 60,000 retail locations nationwide and was recently selected to provide ATM services for approximately 1,500 Rite Aid locations in the western, central, and southern United States.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union reported 2Q/13 revenues declined 3% compared to the prior year, or 2% on a constant currency basis, primarily due to pricing investments in the Consumer-to-Consumer (C2C) segment. C2C revenues declined 4%, or 3% constant currency, including a negative 1% impact from the Vigo and Orlandi Valuta brands. C2C pricing…
Jeff Bakke, chief strategy officer at Evolution1, will speak to the topic “Reinventing the Defined Contribution Model for Today’s Healthcare Landscape” at the Defined Contribution Healthcare & Private Exchanges Summit in Carlsbad, California. The inaugural event, put on by Healthcare Education Associates, is designed to help attendees build their business though defined contribution solutions and private exchanges. 1Plan by Evolution1, a complete defined contribution solution from Evolution1 that runs on the 1Cloud by Evolution1® platform, is the solution of choice for defined contribution Partners. 1Plan delivers the next generation of consumer directed healthcare (CDH) in a complete multi-account defined contribution solution. 1Plan supercharges both private and public insurance exchanges with a solution for employers and employees to budget for and select benefits, shop for insurance, and manage premiums and out-of-pocket expenses in a comprehensive, easy-to-use experience.
Capital One Financial Corporation and Helzberg Diamonds announced a multi-year extension of the private label credit card program agreement. The partnership enables consumers to have expanded buying power through access to special purchase offers, as well as exclusive benefits and financing options. Capital One’s continued partnership with Helzberg Diamonds reinforces the company’s commitment to building its credit card partnership business.
mopay, a global leader in innovative payment solutions for online merchants, announced today that it has been reconfirmed as preferred payment partner for Gameforge, one of the leading providers of high-quality online games. mopay has received top scores in Gameforge’s evaluation of mobile payment providers and will thus continue to process a significant proportion of Gameforge’s global mobile payment transactions. mopay provides direct carrier, landline and broadband billing options for online merchants in more than 80 countries through its industry-leading payments platform. Implemented in Gameforge’s offers, mopay enables players to easily, quickly and securely make in-game purchases, allowing them to buy virtual goods in its AAA game portfolio.
Q2 secure virtual banking partnered Geezeo online Personal Finance Management (PFM) for financial institutions. The partnership allows Q2 to integrate Geezeo’s engagement banking platform to not only provide PFM, but also to enable financial institutions to deliver highly relevant content from within the online banking environment. Q2’s PFM services help financial institutions gain a competitive advantage in the marketplace by empowering customers and members to best manage their finances. Additionally, the data analysis and marketing capabilities provide comprehensive insight into customers’ purchasing patterns, allowing banks to offer better service, which in turn promotes customer loyalty.