USA Technologies wireless, cashless payment and M2M telemetry solutions has renewed and increased its working capital line of credit with Avidbank Corporate Finance. The agreement increases the amount available under the credit line from $3 million to up to $5 million, and renews the credit line for another twelve month period.
Mercury Payments Systems announced Nick Nayfack, director of product at Mercury, accepted a seat on the Electronic Transactions Association’s (ETA) Mobile Payments Committee. Here he will develop best practices in mobile commerce with industry peers to enable merchants and consumers to navigate technological “ease-of-use.” Mercury designs and implements a “one-stop shop” experience for payment acceptance by retail and hospitality merchants by offering a multitude of new and traditional payment products, software and services all focused on small business solutions for “Main Street.”
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.
American Express announced the promotion of Edward P. Gilligan to president, having served as vice chairman since 2007. He was previously named head of a Business-to-Business, responsible for the company’s relationships with merchants, corporations and bank partners globally. Having joined AmEx in 1980, Gilligan has led several different American Express businesses earlier in his career. In 1995, he was named business unit president of Commercial Card and Business Travel for the United States. He was named group president in 2002, overseeing the International Consumer Card business and the company’s global portfolio of Payment and Travel Services for corporate clients.
Global Payout is launching its newly designed MoneyTrac Consolidated Payment Gateway through its licensing agreement with Intradata Solutions. Implementation allows companies to load online accounts with payroll, commissions or rebates for U.S. and international accountholders. Initially developed as a banking platform for several Fortune 500 corporations, the Payment Gateway will be able to easily access online accounts, letting users choose how to access their funds through three transfer options. First, transfers can be made to their bank account. Second, accountholders can transfer funds to any credit or debit card, worldwide. And finally, accountholders can choose to gain immediate access to funds by loading to their domestic or international prepaid card that can be ordered directly from their online account.
Accenture (ACN) enhanced its Software solutions to help banks create stronger customer relationships through multichannel interactions and personalized offerings and increase internal efficiencies. Its new features on the Multichannel Platform 2.0 and Accenture Product and Fee Factory 2.0 software let banks offer customers choice in channel interactions, bring more visibility and efficiency to operational tasks and capitalize on customer relationships through personalized offerings. The Accenture Multichannel Platform 2.0 software allows banks to quickly develop and integrate new and existing customer channels, all at a reduced cost. It is designed to help banks improve customer experiences by offering integrated banking services accessible via the web and mobile devices, as well as through branches, call centers and ATMs.
Eagle Eye Solutions has patent rights covering EMV terminals that can be switched from transacting card payments to redeeming vouchers and coupons according to Eagle Eye’s redemption processes. With over 40 top high street brands using our technology, delivering hundreds of thousands of secure redemptions in stores every month, Eagle Eye has now been granted corresponding patents in both Europe (EP1934964B1) and the United States (US8353451B2). This will also assist Eagle Eye EPOS technology partners to standardise their global EMV product features, in this case to enable voucher redemption via keyed entry and / or NFC, an increasingly significant point with the EMV liability shift for POS devices due in October 2015.
Discover card sits atop the credit card industry in customer brand loyalty for the 17th consecutive year, according to the Brand Keys Customer Loyalty Engagement Index. The Brand Keys research found that emotional engagement is the dominant driver of purchase decisions and brand loyalty. Increasing amounts of advertisements via internet, price promotions and discounting have triggered a tipping point in the brand world where consumers have began to use their emotional connection with a brand as a key factor in their buying decisions.
Leaf tablets specifically designed for commerce announced its “Leaf for Quick Serve” to provide solutions for common challenges in the quick service restaurant (QSR) industry that make it easier for owners to run and grow their business. Leaf for Quick Serve gives restaurant owners a cost-effective alternative to legacy cash registers with a tablet that increases visibility into their business through sophisticated, user-friendly analytics and an improved customer experience. Running on Leaf’s built-for-business POS tablet, the LeafPresenter, which already includes features such as modifiers, printer routing, kitchen notes, check splitting by item or amount, consumer ratings and text-based receipts, Leaf for Quick Serve introduces brand new functionality built specifically for QSRs.
Fiserv financial services technology solutions announced that Heritage Financial Corporation selected its “DNA account processing platform from Open Solutions. To better serve the customers of Heritage Bank and Central Valley Bank. The $1.3 billion asset holding company cited the platform’s state-of-the-art technology, flexible architecture and strong commercial capabilities as key factors in the decision. DNA is the first open, relationship-centered core banking platform built for global collaboration. The platform employs a real-time, relational data model designed around the person, not the transaction, so that Heritage Bank staff can securely view complete profiles of their retail and commercial customers by person, product or account. The bank also gains a single loan system for consolidated commercial, mortgage and consumer servicing with the ability to implement master line processing.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] “There are always a lot of very bright people in banking and bankcard,” notes Bob Hammer, CEO of R.K. Hammer. “That’s a good thing, since the competition for every new and existing customer’s business is world-class and relentless. Given the economy, growing regulatory oversight, the myriad choices for consumers today, and…