Virtual Piggy integrated its youth-friendly payment system to Innovation First International and HEXBUG® Micro Robotic Creatures and VEX Robotics product lines. Innovation First International is a technology and engineering company that has launched several robotics product lines spanning the consumer toy, STEM education, and business-to-business markets. HEXBUG products are available in over 4,000 outlets globally, to which Virtual Piggy is integrated directly into its e-commerce platform to allow direct online and mobile purchases. Virtual Piggy has a standard interface to eBay’s Magento e-commerce platform, which facilitates a simple and rapid integration.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Payroll employment was up 195,000 units in June as the unemployment rate remained at 7.6% while total outstanding revolving US consumer credit jumped a staggering 8.25% in May to an adjusted $857B. Erasing all positive momentum seen in 2013, springing to the highest outstanding total of the year, May revolving credit…
Paymill launched its new product Paymill Unite, an all-in-one solution for everyone who offers an online marketplace. The product enables merchants to offer credit card or debit payment to their buyers on their marketplace in a very easy way. Marketplace owners are now able to connect to other PAYMILL merchants, create transactions on behalf of connected merchants and take commissions for their services. Users can transfer money directly to your merchants and to collect fees for yourself. For the merchant, PAYMILL Unite generates higher conversion rates and minimizes customer dropouts while securely storing customers credit or debit card data.
I2C cloud-based payment processing is providing Heartland Payment Systems prepaid card processing services. The companies’ first collaboration is the National Restaurant Association’s (NRA) Edge prepaid card program, which runs on the Discover® network. The Edge card allows restaurant employees to deposit their paychecks, load funds, receive employer-sponsored incentives and earn cash rewards on a general purpose prepaid card. i2c’s prepaid card payment processing platform will serve as the system of record for Edge accounts and enable the introduction of new card features such as card-linked offers and real-time mobile alerts.
MoneyGram International announced W. Alexander Hoffmann has been appointed to the company’s executive leadership team as senior vice president, global product management and emerging channels. Hoffmann will lead MoneyGram’s global product portfolio, emerging channels and MoneyGram Online. Hoffmann was previously head of consumer growth for Europe, Middle East and Africa at PayPal. He has 20 years of experience in payments and cards, online services and technology, and a strong track record of building new products from concept to launch. Prior to his position at PayPal, Hoffmann spent 12 years at McKinsey & Company in Brussels, Belgium, and Palo Alto, California, working with clients in the payments and telecommunications industries.
TIO Networks bill payment company entered into an agreement to acquire Globex Financial Services, Inc., and its operating business Global Express Money Orders, Inc. (“Global Express”). The acquisition of Globex Financial Services will strengthen TIO’s position in the bill payment industry and provide TIO with a national footprint. It is anticipated that revenue synergies will include the cross selling of TIO’s innovative mobile payment, self-service kiosk and financial wallet technologies to an expanded customer base. The combined companies will offer bill payment services to millions of consumers across the US and Canada. In 2012, Globex generated over US$10M in revenues at gross margins that are significantly higher than TIO’s historical gross margins. With this acquisition, TIO will enjoy significantly higher consolidated revenues and gross margins as well as a more diversified revenue base across customers, geographies and industries.
CashStar digital gifting company added more than a dozen global retailers and restaurants to its B2C and B2B digital gifting platform, and has expanded into new international markets, becoming the largest operator of consumer eGifting programs for retailers outside of North America. Already the largest provider within North America, CashStar is experiencing a record-breaking year across the business. A number of brands are now using the CashStar platform for their plastic gift card programs online. These brands now have a full-service one-stop shop for all their online gift card needs, and benefit from a unified and integrated ordering and delivery experience, as well as the same best-in-class fraud monitoring and risk mitigation. CashStar is the only company in the industry that guarantees zero fraud and maximum revenue from valid orders. CashStar also expanded its international presence with several new client wins in the UK, Australia, New Zealand, Hong Kong, and the entire European Union.
USA Technologies highlighted the launch of a new self-service kiosk for ladies’ flats by its customer, Flat Out of Heels. The customized kiosk was created for Flat Out of Heels owner by ESON Design Partnership and incorporates USAT’s ePort cashless payment technology. USAT provides developers and OEMs of unattended, automated technology with simple and secure integration to USAT’s ePort Connect® suite of cashless payment services. The ePort EDGE® and G-series are available with hardwired payment interfaces such as serial and pulse and include cellular wireless connectivity to USAT’s network. For computer-based applications (Windows or Linux), USAT offers a Web service, QuickConnect™.
Merchant Customer Exchange (MCX) selected FIS to power its new mobile commerce payments network. The relationship with MCX strengthens FIS’ cross-industry leadership position in delivering innovative payments network and mobile-driven financial services solutions to banks and retailers of all sizes. MCX members include leading merchants that account for an estimated $1 trillion in annual sales. FIS will provide MCX with a suite of services that will help bring its mobile commerce solution to the marketplace, including world-class payment processing, payments network infrastructure, routing and settlement, allowing MCX to authorize and execute transactions in real-time. FIS’ premier transaction processing solution is used by all sizes of financial institutions, networks, retailers and third-party processors worldwide.
Global Payments payment processing partnered ShopKeep POS iPad point-of-sale solutions for brick and mortar businesses, to offer an iPad POS solution to Global Payments’ merchants throughout the United States. This agreement combines Global Payments’ services and distribution network with the ShopKeep POS system and award-winning customer care to provide merchants with a complete store management system and business data at their fingertips to help them grow. The easy-to-use and flexible solution offers small and medium-sized merchants a highly-functional, cost-effective cloud-based POS system to facilitate transactions as well as manage sales, inventory, staff and customers, all from an iPad.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up a staggering 8.25% in May to an adjusted $857B, it erased all positive momentum seen in 2013, springing to the highest outstanding total of the year. Although quite the change compared to recent monthly figures, May revolving credit outstanding is still not…
Allied Payment Network online bill payment services and Malauzai Software mobile banking SmartApps announced Picture Pay is now available to any financial institution as a stand-alone mobile bill payment solution, even those that use a different mobile banking provider. Picture Pay can now be implemented by any bank or credit union as a separate mobile application. The stand-alone Picture Pay solution is compatible with any core banking system or mobile platform and no technology integrations are required. The app allows users to complete a payment by take a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution.