nFinanSe Finishes AccountNow Sale

nFinanSe announced a provider of general purpose reloadable (GPR) prepaid cards in the direct-to-consumer sales channel. Closed in phases, the First Closing involved the sale of the operational assets of nFinanSe to an entity wholly owned by AccountNow. Assets of nFinanSe will consist solely of the stock of nFinanSe Payments Inc., the wholly-owned subsidiary of the Company that holds various state money transmitter licenses. AccountNow has an option to acquire the stock of nFinanSe Payments for a nominal payment at a Second Closing upon certain states granting approval for a change of control of its money transmitter licenses. It is highly unlikely that any proceeds will be available to holders of any other series of nFinanSe’s Convertible Preferred Stock or its Common Stock and after the Second Closing, nFinanSe will have no assets.

BSI Implements Fiserv Platform

BSI Financial Services (BSI) has selected the Fiserv “LoanServ” platform. BSI is replacing its previous banking system with LoanServ from Fiserv to automate many of its manual processes and provide enhanced default management capabilities and other services to its clients. Deploying “LoanServ” strengthens BSI business model and provides an advanced technology platform to support unprecedented growth. The “LoanServ” platform is available to help automate all loan servicing processes, including integrated default management and collections, cashiering, escrow and investor accounting for both closed-end and revolving loans.

Bluefin Payment Systems Appoints Board Member

Bluefin Payment Systems secure payment gateway technology announced Dickson Chu has joined its board of directors. Currently a principal at DC Advisors, Chu has served as the SVP of Merchant Solutions for Living Social, Managing Director of Citibank, and Vice President, Head of Global Products & Experience for PayPal. Bluefin Payment Systems focuses on enabling full-service payment solutions to software platforms offered by companies in a diverse range of verticals, including health/fitness, medical, legal, transportation, death care and more. Chu brings more than 25 years of experience in payments and technology and is an active advisor to a number of emerging companies. He was also SVP of Merchant Solutions for Living Social, where he managed the creation of a new business unit.

Visa Announces President Retiring

John Partridge will step down as Visa’s president March 31, 2013. Partridge leads the company’s technology, emerging product, processing and client services functions. Additionally, he spear-headed the integration of recent acquisitions, including CyberSource, PlaySpan and Fundamo. He will work closely with Visa’s Chief Executive Officer, Charles W. Scharf, on a transition. Partridge made several significant contributions to the company’s success and positioned Visa for future growth. This after having served as chief operating officer of Visa and efforts to transform Visa from a membership association owned by financial institutions into a global, publicly traded company.

NCR to Deploys Interactive Teller Service at FCU

Wright-Patt Credit Union will now implement “APTRA” Interactive Teller from NCR Corporation, allowing members to conduct remote, assisted-teller transactions over an ATM, interacting live with a centralized Wright-Patt teller who has control of the machine. APTRA Interactive Teller is part of NCR’s assisted service suite of solutions, combining the best of video collaboration and remote transaction-processing technology on an ATM. This will ultimately offer teller services after the branch has closed and add branch services in areas where they do not have a branch presence. Wright-Patt will install 12 walk-up units in branch lobbies and off-site locations, and seven additional units in branch drive-throughs. It also allows customers to perform secure transactions without using a traditional ATM card and, like branch tellers, remote tellers can provide customers access to cash in their accounts in amounts over the standard ATM daily cash withdrawal limits.

VeriFone Embarks on New Market with Taxi Payment and Media

VeriFone Systems inked a comprehensive, long-term contract to provide credit card processing along with digital and traditional media to a Las Vegas cab company whereby it will provide nearly 100% of taxi card payment services in the city. This will generate $90 million over the term of the contract in revenue derived from equipment sales and fees from services and advertising. This deal includes advertising on the company’s airport shuttle bus service, enabling VeriFone to provide virtually blanket exposure to visitors for advertising and promotional campaigns. Cab-goers will enjoy a 10-inch tablet and make electronic payments on VeriFone’s NFC and EMV-enabled VX 820 payment solution.

M-Banking Usage Up 50% Y/Y

Mobile banking is now allowing more banks to drive out costs and deepen customer relationships, according to Bain & Company’s annual “Customer Loyalty in Retail Banking Report (2012 global edition).” The report finds that Asia has the highest mobile banking penetration while survey respondents in the U.S. reported the highest frequency, averaging 4.9 mobile transactions in the previous three months. Meanwhile, 64% of mobile banking users in the U.S. say that the future ability to use their smartphones or tablets to check account balances would be highly valued and 41% say using their smart device for remote deposit capture (through a digital image of an endorsed check) would be highly valued. U.S. mobile users report greater loyalty.

Over 80% of Shoppers to Buy Retail Gift Cards This Season

The National Retail Federation (NRF) is projecting over 80% of shoppers will purchase at least one gift card with total holiday spending approaching $30 billion in 2012. The Retail Gift Card Association (RGCA), made up of some of the nation’s largest retailers, wants all consumers to know that gift cards purchased at their member companies have no fees, never expire and are a convenient – and coveted – gift.

Virtual Piggy Inks Expansion Partnership with WorldPay

Virtual Piggy has entered into a Strategic Partnership with WorldPay to further expand its eCommerce service in the international marketplace. Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management, while empowering youth under 21 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents in over 100 different currencies. Meanwhile, WorldPay merchant acquirer operates in more than forty countries, 120 transaction currencies and fourteen settlement currencies.

EVO Payments International Buys PowerPay

EVO Payments International privately held credit card processor has acquired PowerPay, a premier provider of integrated E-Commerce and POS payment processing solutions. EVO currently services 275,000 merchant customer businesses of all sizes, in various industries, focusing on small to mid-sized merchants. PowerPay currently supports a portfolio of 55,000 merchanchants with a total annual sales volume of more than $8 billion and relationships with over 15,000 VARs and agents.