Western Union launched its “Global Share” platform to introduce new stored-value solutions in markets around the world through local companies. This allows local companies to enhance their overall value proposition by leveraging many of Western Union’s strengths in the marketplace, including the largest network of its kind in the world, its globally recognized brand and its expertise in moving money across borders. The “Global Share” platform allows Western Union and its clients develop enhanced value propositions in the marketplace by leveraging each other’s complementary assets. For this, Western Union has already signed agreements with six companies for solutions that meet a variety of needs around the globe.
CSR data compliance solutions announced that OMEGA Processing Solutions will offer its “PCI ToolKit” and Breach Reporting “ToolKit” solutions to its entire portfolio of approximately 7,000 business customers. OMEGA Processing Solutions credit card processing company provides electronic payment transaction services to businesses nationwide. The CSR “PCI ToolKit” solution helps merchants complete compliance validation quickly and easily without time-consuming support sessions. More than 82 percent of merchants who use the PCI ToolKit successfully complete validation. The CSR “Breach Reporting ToolKit” solution delivers the right information at the right time to the right regulating bodies in the event of a suspected or actual data breach. It identifies, prepares and files the mandated reports to countless oversight authorities in a timely fashion on behalf of businesses, both large and small.
TransCard introduced its “Traveler Prepaid Card” along with its “Student Prepaid Card.” The latest addition to the TransCard “Premier Select Suite” reloadable prepaid accounts, the Student Prepaid Card is geared towards high school students heading off to college. It offers purchasing power without the risk of piling up credit card debt and allows parents to send money to the card via a transfer from their bank account or in real-time from a secondary card. It also offers online budgeting, real-time text alerts, a mobile app, and access to cash at ATMs worldwide, all for one low monthly fee.
Western Union launched its “Reload+” network, which allows customers with multiple types of accounts, including prepaid cards, mobile services and other e-commerce-based accounts, to “top up” or add cash to their accounts at participating Western Union Agent locations worldwide. The “Reload+” services offer cash access at participating Western Union Agent locations where ATMs are not prevalent.
GE Capital Retail Bank and American Signature announced a multi-year relationship to provide consumer credit card services through its 126 locations. For this, GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will service the account and manage the credit card program. GE Capital has helped major retailers and more than 200,000 small- and mid-sized businesses throughout the United States build consumer financing programs that support business growth and customer satisfaction and has been in the furniture market 60 years.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index (LEI) for the U.S. was up 0.7% in February to 94.8 after a 0.8% gain in January and .5% gain in December. Indicating a slow but continued expansion in economic activity, this growth was also thanks to improvements in housing permits and financial components helped…
Fathead officially licensed sports and entertainment graphics launched a Virtual Piggy youth-friendly payment system, now available to customers as a secure online payment option through Fathead.com. With a Virtual Piggy account, Fathead is able to create a safe, convenient shopping experience for children by giving parents the ability to control and monitor their child’s spending account. Under this parentally managed account, kids can freely browse and purchase their favorite Fathead products, while learning financial responsibility at the same time. Customers can create a free Virtual Piggy account by visiting Virtualpiggy.com.
MasterCard announced mobile innovations and feature enhancements to Smart Data, including a new mobile receipt application that liberates corporate cardholders from the burden of filing paper receipts for expenses. The new Smart Data Mobile Receipt Capture App for iOS, Android and Blackberry users enables corporate cardholders to directly upload receipt images by taking a smartphone picture and attaching it to the transaction when filing their expense report, allowing cardholders to toss the dreaded paper receipt. MasterCard is also piloting a Mobile Fleet e-Receipt App to assist businesses and governments needing accurate and timely data to manage automotive fleets. The mobile fleet app allows drivers to visit any fuel merchant and enter the data required by their fleet managers, including the type and amount of fuel purchased, the price paid per gallon, the odometer reading, along with many additional features.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fitch’s February Monthly Payment Rate(MPR) Index continues to sit above the 20% mark, currently at 24.83%. Up over 10% since the year ago period, MPR has consistently remained well above the historical average of 16.55% since 2009. MPR, which measures how quickly cardholders are paying down outstanding balances, is breaking the…
The two-in-one JetScan iFX from Cummins Allison accommodates branch capture as complete deposits; checks, currency and transaction-related documents can be processed in the back counter or at the teller line in minutes. The JetScan iFX enables tellers and supervisors to image checks more than twice as fast as other scanners without sacrificing image quality, on the same machine that is also the fastest currency scanner in the industry. It also increases productivity by processing 1,600 bills per minute, even in the highest volume areas, such as count rooms. With quicker currency scanning speeds, staff tasks become faster, while accuracy remains high as the JetScan iFX ensures incorrect notes are instantly identified and counterfeit notes detected, where other currency scanning equipment might miss. This as IDC Insights expects North American technology spending to increase to $57 billion in 2013 on investment in currency and check processing solutions and branch/teller capture is projected to see an estimated 98% adoption rate of branch and/or teller capture solutions over the next two years.
Evolution1 electronic payment, on-premise and cloud computing healthcare solution announced its products, solutions, and services under six brands within one product suite. The product suite enables the communities Evolution1 serves to quickly identify Evolution1’s products, solutions, and services and determine which one best meets their needs. The suite includes 1Cloud by Evolution1 healthcare financial services platform; 1Direct by Evolution1 on-premise healthcare financial services; 1Pay by Evolution1 suite of payment solutions, led by the innovative Benny Prepaid Benefits Card; 1Mobile by Evolution1 for healthcare access for consumers on the go; 1Plan by Evolution1 contribution solution; and 1View by Evolution1 self-service dashboard for healthcare management.
Leaf unveiled an open approach to payment acceptance, giving small businesses the freedom to work with the payment provider of their choice, as well as the ability to accept new forms of payment all from one device. Offering the first POS platform committed to open payment acceptance, Leaf empowers merchants to choose their providers and rate plans, offer the most novel and convenient payment options for their customers, and aggregate data analytics over all payment types and providers. Leaf enables merchants to choose from a list of more than two dozen credit card, gift card and next generation payment providers within its partner program, which it plans to grow in the coming months. Leaf also offers the ability to create new accounts with pre-approved partners through its “LeafBusiness” online analytics and management portal.