Unemployment Continues Slow Decline

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Total nonfarm payroll employment was up 165,000 in April as the unemployment conversely dropped .10% to 7.5%. Having declined 0.4 percentage points since January, the unemployment rate is a reflection of the 11.7 million still unemployed, a 673,000 drop since January. Of this, the number of long-term unemployed (those jobless for…

SecureNet Announces New VP, Products

SecureNet Payment Systems payment technology operating system announced Nish Modi has been named VP, Product. Bringing over 17 years of payment experience managing, designing and architecting products and systems, financial services and eCommerce industries, Modi was most recently at eBay. Here he led the strategic direction for consolidating all billing, invoicing and payments across eBay’s adjacent entities as Senior Manager Platform Strategy. Prior to eBay, Modi led product management strategy for First Data Corporation’s flagship Internet banking and business banking products.

Alaric Launches New Secure Authorization Solution

Alaric fraud prevention and payments solutions is now offering its “myPinPad,” allowing cardholders to securely control the authorisation of payments via the entry of their PIN on touch-screen payment terminals, smart phones, tablets and online. The combination of myPinPad and Alaric’s Authentic solution for transaction processing delivers an end-to-end platform for mobile and online payments, with EMV-level security. This ensures secure processing of mag-stripe or chip cards and addresses the challenges of securely authorising card payments through its highly-scalable virtual EFTPOS and ATM platform, which presents the cardholder with a one-time virtual PIN pad – effectively moving the security elements of the transaction from the device and into the cloud. It ultimately mitigates risk and fraud protection and converts card not present (CNP) to card present with PIN transactions through a secure virtual PIN Entry Device (PED).

MoneyGram Posts Revenue Up 7% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MoneyGram payment services posted 1Q/13 total revenue of $340.5 million, up 7% on both a reported and constant currency basis. Meanwhile, money transfer revenue increased 10% from the year ago figure thanks to transfer transaction volume up 11%. This was subsequent to a 13% growth in U.S. outbound sends, namely to…

AnywhereCommerce Partners Paytoo and Mobilepaid

AnywhereCommerce global payments technology entered into a strategic alliance with PayToo and Mobilepaid to deliver a multifaceted mobile payment acceptance solution that can support a variety of payment presentation technologies. Available for download on all common smartphones and tablets, the new app relies on AnywhereCommerce’s patented audio-jack technology to transform any smartphone or tablet into a highly secure mPOS terminal. Through this technology, merchants can accept payments made through traditional magnetic stripe, EMV chip, and NFC platforms. AnywhereCommerce, PayToo, and Mobilepaid targets the over 25 million small retailers and more than three billion unbanked consumers worldwide.

First Data Names New Vice Chairman

First Data electronic commerce and payment processing announced that Executive VP, Ed Labry, has been named its Vice Chairman. Now the senior-most advisor to the chief executive officer, Labry will lead the company’s engagement with its premier customers and driving new enterprise client engagement. Labry was previously president of First Data North America, a market that grew to contribute more than 85 percent of the company’s consolidated revenue under his leadership from 2010 through 2012. First Data’s U.S. operations deliver products and services to financial institutions and bank alliance partners, merchants and commercial customers, providing virtually all services in the payment continuum, from payment card issuing to acquiring transactions at the point of sale for processing and settlement. Previously Labry served as president of the company’s Retail and Alliance Services division.

AIRTAG Facilitates Magento E-Commerce mWallets

AIRTAG Mobile Shopping Solutions announced AIRSHOP advanced ordering & payment solution has been fully integrated with Magento; the eBay owned open source e-commerce platform used by more than 150,000 retailers. This integration enables retailers currently using Magento for their e-commerce sites to easily transition to mobile commerce and offer consumers a multi-channel experience that includes mobile, web, and tablet applications. Forrester Research predicts that by 2017, half of all mobile internet users will be mobile retail buyers, meaning that retailers must start to develop a mobilized and multi-channel strategy. This offers a full retailer wallet for advanced ordering and payments with both in-store and delivery pick-up options and multiple payment scheme support, including PayPal, 1 Click, and Credit Card with integrated targeted marketing through mobile loyalty, geolocated couponing, geofencing, push notifications, location based marketing and product recommendations.

Ink from Chase Refines Jot Mobile App

Ink from Chase announced a new receipt capture capability exclusively for JotSM, a free mobile application and online tool designed to meet the needs of small business owners who are often on the go. Jot saves small business owners time in the back office by enabling them to easily track, categorize and organize business expenses – including actual receipts – in real-time from their iPhone® and Android™ mobile devices. Jot sends small business owners a push alert within seconds of making a purchase with their Ink card. Customers can immediately tag these purchases to custom categories on a mobile device or online. With the receipt capture feature, customers simply take a photo of a receipt with their mobile device camera and attach it to purchases made with an Ink card. Customers can then sort transactions, download and print receipts online and create and download reports containing purchases and receipts into accounting software, including QuickBooks® and Excel®.

Fiserv Reports Posts 1Q/13 Revenue Up 6%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fiserv posted 1Q/13 revenue of $1.15 billion, compared with $1.10 billion in the first quarter of 2012. Adjusted revenue was $1.08 billion in the first quarter compared with $1.02 billion in 2012, an increase of 6 percent. The company acquired Open Solutions account processing technology for financial institutions and reported its…

RushCard Targets Increased Transparency

UniRush, program manager for the Prepaid Visa RushCard pioneered by Russell Simmons in 2003,announced new Fee Disclosures designed to make it easy for customers to understand the cost of using their RushCard, going above and beyond current industry standards.RushCard introduced a fee-free ATM network – for existing cardholders and new customers – in order to help cardholders keep the cost-to-use down. RushCard’s new, best-in-class Fee Disclosures will appear online at www.rushcard.com and in all Terms & Conditions mailings. Designed to go beyond current industry and regulatory standards, the disclosures (see: https://www.rushcard.com/howitworks/ScheduleOfFees.pdf) contain easy to understand fee descriptions, as well as clear explanations of when each fee is incurred. RushCard offers 3 different fee plan options: RushUnlimited, Pay-As-You-Go, and Monthly. The fees for each plan appear side-by-side, making it simple for prospective customers to compare plans. In addition, an easy-to-use Plan Calculator is available to help customers make the right selection.

NCR Posts Revenue Up 13% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NCR Corporation posted 1Q/13 revenue of $1.41 billion, up 13% from 1Q/12. NCR’s Financial Services segment generated first quarter revenue of $714 million, an increase of 3% from the first quarter of 2012, thanks to growth in Europe and Asia Middle East Africa (AMEA). Operating income for Financial Services was $57…

Western 1Q/13 Revenues Down 5% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union posted 1Q/13 revenues down 5%, driven by the Consumer-to-Consumer (C2C) segment and its impact on pricing investments and compliance related changes. C2C revenues declined 7%, including a negative 2% impact from the Vigo and Orlandi Valuta brands and a negative 1% impact from currency. Total C2C transactions decreased 2%,…