USA Technologies, Senior VP, Sales and Business Development, Michael K. Lawlor, will be presenting at two separate sessions at the NAMA OneShow being held in Las Vegas, April 24-26. Titled, Technology’s Impact on the Bottom Line, Lawlor’s first presentation will highlight the benefits of an integrated, comprehensive cashless payment and wireless telemetry platform as a fundamental business tool for driving incremental sales revenue and profit opportunities. Part of his presentation will include highlights from USAT’s 2013 Cashless Knowledge Base that supports the view that total sales and volumes benefit as consumers take advantage of cashless payment options. Lawlor will be joined by Mark McKinney, Senior Business Development Executive for the Isis market launch.
ACI Worldwide payment systems, announced the benchmark results for processing bulk payments on ACI Money Transfer System, offering financial institutions the opportunity to rationalize multiple payment processing systems, each typically with their own hardware, software and support costs, onto a single consolidated solution. This consolidation provides improved operational efficiencies and the potential for significant cost reduction. During the tests, Money Transfer System successfully processed 15 million transactions per hour through end-to-end, real world processing scenarios. It supports RTGS; CHIPS; ACH/SEPA; SWIFT Messaging and UK Faster Payments.
ACI Worldwide payment systems announced its latest version of “ACI Issuer,” combating heightened regulation and antiquated systems to drive down the cost of issuing cards and managing customer accounts. Issuers can eliminate duplicate systems by issuing debit, credit, pre-paid and commercial cards as well as offering unsecured loans from a single issuing platform. Using ACI Issuer as a single platform also gives financial institutions a unified view of customers, accounts, payment types and transactions. A single view of the customer improves the ability of customer service representatives to respond to inquiries and resolve issues, increasing customer satisfaction.
First Data electronic commerce and payment processing enhanced its existing “VisionPLUS” payment solution with “VisionPLUS Flex” comprehensive software solution. Available for delivery to financial institutions as a server-based appliance on a single platform, the VisionPLUS Flex solution supports issuing and acquiring of credit, debit, prepaid, consumer and commercial cards for private label, American Express®, JCB, MasterCard® and Visa® global brands, as well as consumer loans. It also delivers an extensive range of payment services and value-added options such as multi-currency and multi-language capabilities, and allows financial institutions to easily configure the settings and options they desire within the product. Once purchased, financial institutions simply choose a VisionPLUS Flex configuration option and the capabilities they desire; the solution is then assembled with the appropriate hardware and software.
The P2 Customer Relationship Management (CRM) system by POS Portal will soon feature a PCI Compliance application by ControlScan. Created specifically for merchant acquirers, P2 CRM has been widely adopted across the payments industry. POS Portal and ControlScan are partnering to enable direct access to tried-and-true ControlScan merchant compliance services through the P2 App Portal. ControlScan’s payment security and compliance solutions are utilized by more than 120 acquiring banks, payment processors and independent sales organizations (ISOs) to educate and protect a total merchant base that exceeds 1 million businesses. Through its new, seamless integration with ControlScan, P2 CRM will give ISOs and acquirers real-time, single-source access to detailed merchant compliance information that includes each merchant’s status in the PCI compliance process, the frequency and content of their interactions with ControlScan support agents, and more.
MoneyGram is warning consumers not to let scammers profit from tragedy by luring them to donate to fraudulent non-profit organizations following the Boston Marathon bombings. This type of fraud typically spikes immediately following national tragedies, with consumers losing an average of $824 when they fall victim to a fake charity scam. The organization may sound similar to a legitimate charity, and may even have a fake website that looks like an organization’s official site. As part of the company’s ongoing efforts to protect consumers from fraud, MoneyGram recently launched an enhanced version of its fraud prevention website moneygrampreventfraud.com – or Spanish website at moneygramprevenciondefraude.com – where consumers can arm themselves with information to prevent monetary losses to charity scams.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express posted 1Q/13 net income of $1.3 billion, up 2% from the year ago figure, while consolidated total revenues net of interest expense were $7.9 billion, up 4% from the $7.6 billion figure a year ago. With this, U.S. Card Services posted 1Q/13 net income of $804 million, up 7%…
Vantiv payment processing services and related technology solutions for merchants and financial institutions announced Anheuser-Busch Employees’ Credit Union (ABECU) enlisted its debit and credit processing services under a multi-year agreement. Vantiv makes debit and credit card issuing easy with its technology and account management tools. Allowing financial institutions to focus on expanding customer relationships and the growth of their portfolios, Vantiv also helps maximize cardholder touch points with its state-of-the-art mobile and online account access, and customized cards. The company’s 24-hour contact center provides around the clock support for cardholders who have questions or need assistance.
Swift financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries and territories, and the Banking Commission of the International Chamber of Commerce (ICC), announced new legal and technology standards for Bank Payment Obligation (BPO) are now available. The BPO is a new payment term that allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and enables banks to offer flexible risk mitigation and enhanced financing services to their corporate customers. The BPO rules will establish uniform practices for BPO market adoption. Together with the ISO 20022 messaging standards, these rules provide an industry wide foundation for banks to develop risk and financing services aligned with today’s technology.
Fiserv financial services technology solutions launched its “Popmoney Instant Payments.” Available now to eligible financial institutions that offer “Popmoney,” “Instant Payments” lets users send money credited to the recipient’s account within seconds. This feature extends the functionality of the Popmoney social person-to-person payments service, making it indispensable when an immediate exchange of money is required. Uses could include making a last-minute rent payment, sending money to a family member in an emergency or paying a small business or service provider upon completion of a project. The “Popmoney Instant Payments” leverages extensive portfolio of payment capabilities from Fiserv to enable fast and secure money movement. The “Popmoney” platform intends to expand its connectivity options through other networks and connection points.
Fiserv inancial services technology announced its debit payments network, formerly known as ACCEL/Exchange, is now just “Accel.” Reflecting the network’s ability to accelerate funds transfers across retail, biller and social person-to-person payments, and positions the network within the Fiserv portfolio of payments capabilities to create the world’s leading real-time network, the name change is appropriate. Accel supplies infrastructure for financial institutions to give cardholders around-the-clock access to their demand deposit account funds at ATMs and the point of sale, with 55 million debit cardholders, 3,100 financial institutions, 340,000 ATMs and more than 3 million merchant locations.
Net Elemen electronic commerce and mobile payment processing completed the acquisition of Unified Payments transaction processing services and payment-enabling technologies. Unified Payments is a socially responsible provider of payment services across the United States, processing in excess of $10 billion in volume between 2010-2013. The acquisition positions and diversifies Net Element International’s mobile payments business and creates a new platform division “TOT Group, Inc.”, with focus on global mobile payments and transaction processing markets. Net Element International has already initiated the integration and localization of Unified Payments’ products and services in Russia and other emerging markets and will now reap the benefits of Unified Payments’ market penetration in the U.S. The completion of the Unified Payments acquisition positions Net Element International’s TOT Group to maximize the benefits of a significant growth market opportunity.