American Express, Twitter Unlock the #Hashtag Purchasing Power

American Express launched its social commerce solution, implementing Twitter #hashtags as purchasing tools in a unique and seamless way. Now Cardmembers who sync their eligible Cards at sync.americanexpress.com/twitter and tweet special #hashtags can buy American Express Gift Cards and products from Amazon, Sony, Urban Zen and Xbox 360 through its own “Card Sync” technology. The “Card Sync” solution first launched on Twitter to deliver couponless savings to Cardmembers who tweet special offer #hashtags from merchants. The $25 American Express Gift Card can be purchased using a synced American Express Card for $15 by tweeting #BuyAmexGiftCard25 (quantities limited, offer expires 3/3/13, limit one per Cardmember). Meanwhile, Cardmembers can sync their eligible Cards with Twitter to purchase products and access content, offers and more.

AnywhereCommerce, Heartland Ink mPayment Partnership

AnywhereCommerce is now the provider for Heartland Payment Systems’ “Mobuyle” mobile payment reader. Combined with Heartland’s payment acceptance app for Apple iOS and Android operating systems, This allows merchants to take credit, debit and gift card payments on various mobile devices. AnywhereCommerce is a major mobile payments solution provider, serving many of the top 20 merchant acquirers, providing fully brandable merchant POS devices, software apps and a global gateway.

KAIKU Visa Prepaid Card Winner in Paybefore Awards

Paybefore has chosen the KAIKU Visa Prepaid Card as a 2013 Paybefore Awards winner in both the Best General Purpose Reloadable Card Program – US Solutions and Outstanding Newcomer categories. Paybefore Awards, now in its seventh year, are presented annually by Paybefore, whose publications are the leading source of industry information for alternative payments executives. Kaiku Finance launched the KAIKU Visa Prepaid Card in July 2012 as a next-generation prepaid product empowering consumers to more effectively manage their money with an unparalleled combination of affordability, style, transparency, access, convenience, and mobility. The KAIKU Card’s sleek design and low monthly fee of $1.95 positions itself as a lifestyle choice for today’s increasingly mobile and cashless society.

Jack Henry Teams TransCard to Tap Underbanked

Jack Henry & Associates (JKHY) technology solutions and payment processing services introduced prepaid cards. TransCard will provide operational support and customizable marketing materials for the solution.The company’s Jack Henry Banking, ProfitStars, and Symitar®divisions will sell the solution that enables financial institutions to offer payroll cards, reloadable prepaid cards, and gift cards that generate additional revenue from commercial and retail customers, while attracting new customers from the underbanked and unbanked market segments.

Virtual Piggy Partners Ty.Com

Virtual Piggy youth payments added its youth-friendly payment system to Ty’s ecommerce website. Letting parents to set up a monthly allowance for their children, Virtual Piggy promotes financial management while empowering youth under 18 to make purchasing, saving and other money management decisions. Ty is best known for Beanie Babies®, an immensely popular line of plush toys that started in 1993.

MoneyGram Launches mRemittance Solution

MoneyGram global money transfer announced users of iPhone, Android or Windows 8 mobile devices in the U.S. can now use moneygram.com to send money, find MoneyGram locations, estimate money transfer fees and view recent account activity. This allows the company to tap the $50 billion cross-border U.S. remittance market. MoneyGram offers money transfer services worldwide through a global network of more than 310,000 agent locations in 197 countries.

Fiserv Inks Expanded Partnership Agreement

Fiserv financial services technology solutions announced that United Community Banks has extended and expanded its partnership, and will continue to operate on the Premier bank platform. In addition to new deployments of card services solutions from Fiserv, United Community Banks will implement a host of additional Fiserv solutions, selected for its innovation, integration and scalability. United currently utilizes “Business Process Manager” for new account and process management, “CheckFree RXP” for bill payment, “Popmoney” for person-to-person payments and “Merchant Source Capture” for remote check deposits, along with several other Fiserv solutions.

FIS Launches P2P Payments Solution

FIS’ “People Pay” solution, offering real-time P2P payments through its own “PayNet” real-time payments network, is now available through a single platform provided by their financial institution. It allows banks to offer a trusted payment services to their customers and drive increased P2P adoption. Beyond traditional P2P models, the next horizon for today’s digitally demanding, fast-moving consumer is paying any person, company or institution in real time – quickly, easily and securely. Users can now send payments directly to a recipient’s e-mail address or mobile phone number while utilizing the institution’s secure online banking Web site. The standalone P2P solution will also be integrated with FIS channel products and core solutions.

CARD FEE INCOME, AS A % OF TOTAL INCOME – STILL RISING

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In their series of weekly year-end industry trend reports R.K. Hammer discusses in their latest report how fee income continues to climb higher in terms of top line revenue contribution. For decades, interest income on prime/super prime cards had always contributed the largest portion of the card industry’s revenue streams; just…

Nedbank Launches New mPOS Solution

Nedbank launched its “PocketPOS” EMV certified mobile POS solution, allowing businesses to process payment card transactions on a smartphone connected to a secure card reader. It is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device. PocketPOS is designed to operate where EMV ‘CHIP & PIN’ technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN. The “PocketPOS” solution is available as a small device with a secure PIN pad that requires the merchant to capture an email address into the smartphone application or as an alternative device with the ability to print out a physical receipt, much like in the case of a traditional POS.

GE Capital Partners Penske Automotive on Consumer Financing

GE Capital Retail Bank and Penske Automotive retailer partnered to provide a private label consumer credit card program to customers of Penske Automotive Group dealerships. 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. Qualifying Penske CarCareONE cardholders* can take advantage of promotional financing offers such as six-month deferred interest financing on purchases of $299 or more and 12-month deferred interest financing on purchases of $750 or more.

RushCard Intros to Underbanked Paperless Tax Refund

The Prepaid Visa RushCard now offers consumers a convenient direct deposit alternative for receiving their income tax refund. With direct deposit to a RushCard, tax filers can now receive their refunds faster, safer, and more conveniently this tax season. The company is also set to participate in the Visa Prepaid 2013 Tax Sweepstakes for Refund Load, where those who enter the sweepstakes or load their refunds onto eligible Visa Prepaid cards are automatically entered to win free family groceries for a year. RushCard users agree that setting up a tax refund directly to their card is easy and effective. Before getting a RushCard, more than a third received their check through the mail (36%) but now, nearly all (90%) of RushCard users who chose direct deposit to receive their tax refund last year plan to do it again this year.