2012 Card Industry Revenue – A Continuing Downtick

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] During the past several years card issuers have dealt with new regulations which curtailed their business models, impacting their interest and fee income strategies. As a result, in 2012 top line revenue for the card industry in the R.K. Hammer card issuer model was reported at $149.6 Billion, down $5.3 Billion…

Fiserv Partners TOPS Software on Payment Processing

Fiserv financial services technology solutions has established a partner relationship with TOPS Software property management software products and services, to make payment processing faster and more efficient for property managers. Fiserv clients who use the RemitStream Exception Handling property management solution and also use TOPS Condo/HOA management software are now able to automatically resolve exceptions during payment processing through integration of homeowner data between the two solutions. Fiserv worked with TOPS to create a specialized file that is in a specific format for loading into the Fiserv processing system without any further manipulation.

America FCU Deploys Cardlytics Marketing Platform

Cardlytics Transaction-Driven Marketing platform has been deployed by America First Credit Union for targeted member rewards. America First Credit Union implemented the platform through an ongoing partnership between Cardlytics and Fiserv. Selecting offers, account holders can activate or “accept” rewards before redeeming them at a number of national, local and online retailers. There are no coupons or promotion codes required and no member data ever leaves the credit union’s secure environment.Members can easily opt-out of the rewards offers, but activation rates prove broad consumer acceptance of Cardlytics’ programs.

GE Capital Retail Bank Inks La-Z-Boy Card Program

GE Capital Retail Bank and La-Z-Boy inked a five-year extension of their relationship to provide consumer credit card services through many of the home furnishings retailer’s 781 U.S. retail locations. GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will continue to service the account and manage the La-Z-Boy relationship. Customers can apply online or use in-store application kiosks for secure processing and fast credit decisions. 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.

Payza Launches International Online Remittance

Payza online payment platform launched its “SimplySend” service to facilitate money transfers from the U.S. to Bangladesh, allowing members to send money to friends and family, regardless of whether or not they have a Payza account. Payza is now licensed by the country’s central bank, Bangladesh Bank and facilitates transfers with a flat fee of $5 for remittances up to $500, and those over $500 cost a flat $10. Payza members can send a remittance to anyone in Bangladesh by completing a simple online form directly from their Payza account.

First Data & Webster Bank Extend Services Agreement

First Data electronic commerce and payment processing and Webster Bank, N.A., a wholly-owned subsidiary of Webster Financial announced a new long-term deal extending their merchant services partnership. First Data will continue to provide merchant processing services to Webster’s customers at its 167 banking offices throughout the northeastern United States, allowing Webster clients to gain access to First Data’s full range of point-of-sale payment solutions.

Moneris Integrates Payments Gateway With New Partner

Moneris Solutions payment processors announced a strategic partnership with Henry Schein MicroMD practice management and electronic medical records management software. For this, Moneris will integrate its proprietary eSelectPlus payments gateway with encrypted card reader functionality into the upcoming new release of Henry Schein MicroMD’s Practice Management (PM) software, enabling Henry Schein MicroMD customers to process patient credit and debit card payments directly through their MicroMD PM software. By eliminating the need for a traditional credit card terminal or stand-alone payment system, the new integrated solution will substantially reduce payment processing and equipment costs; the integrated card reader, which encrypts cardholder data before it reaches the Henry Schein MicroMD PM, helps protect patient account information and keep practices within the scope of PCI-DSS compliance.

Acculynk Grows Debit-based P2P Solution

Acculynk’s Payzur personal commerce (p-commerce) solution for debit cards announced Gesa Credit Union will pilot the P2P solution for its members, for which Crystal Clear Payments will serve as a channel partner. The Acculynk platform allows financial institution customers to send funds simply by authenticating the mobile- or web-initiated transaction with their bank issued PIN via the PaySecure patented online graphical PIN pad. Since Payzur is not ACH based, there is no enrollment or waiting period for consumers to begin using the service. Acculynk contracts with financial institutions directly and through channel partners to offer the Payzur p-commerce solution to their customers. For it, Crystal Clear Payments will provide payment processing solutions to the financial industry including credit signature processing; debit signature processing; PIN-based processing; Intelligent ATM services; cardholder loyalty programs; fraud moxie risk management, detection, and prevention; and card manufacturing programs.

MasterCard Extends PGA TOUR Marketing Relationship

Initiated in 1995, MasterCard and the PGA TOUR extended their marketing relationship through 2016 to focus on further providing MasterCard cardholders unique golf experiences, privileged access to top PGA TOUR tournaments and properties, as well as golf-related savings and offers. With this, MasterCard will expand TOUR-related cardholder benefits at key PGA TOUR tournaments and courses, as well as introduce new programs at select tournaments. MasterCard cardholders will have the opportunity to “text to win” for upgraded hospitality on competition day at the vast majority of PGA TOUR events. A selection of top tournaments will also offer cardholders special grounds ticket purchase opportunities, as well as on-site savings at concession and merchandise venues and provided a unique opportunity to “text to win” a one-time, 20-minute putting lesson with a PGA TOUR player at several different tournaments throughout the season.

Discover Posts 4Q/12 Net Income Up 8% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover reported a net income of $551 million for 4Q/12, up from the year ago period of $513 million. For this, total loans, credit card loans and Discover card sales volume all grew 6% from the prior year. With this, credit card net charge-offs reached historic lows with a net charge-off…

Regal Entertainment Group eGift Cards Now Available

Regal Entertainment Group announced a special offer for making holiday budgets go further and just in the nick of time for last-minute purchases. Shoppers can logon now to REGmovies.com to instantly send eGift Cards to friends and family. For every $50 in eGift Cards purchased through January 6, the sender gets another $5 eGift Card for free. Regal’s eGift Cards arrive in minutes via email or on a specified delivery date. There are no shipping charges, service fees or expiration dates and electronic gift cards come in a variety of themed design options.

Signifyd Raises $2mm for Frictionless Payment Validation

Signifyd fraud prevention raised $2 million in financing from Andreessen Horowitz, Data Collective, IA Ventures, QED Investors, Resolute.VC, Tekton Ventures and other angel investors. Signifyd was founded in 2011 by a team of risk experts from PayPal to address the complexity of payment validation. Between chargebacks, mistakenly declined orders, and countermeasure costs, the average e-commerce retailer loses 3.1% to fraud every year. Most large e-commerce merchants have teams of agents that arduously try to bridge the gap between the online identity a user presents and the real-life person he claims to be.