TSYS announced its director of business development for Commercial Card Services, has been chosen to participate in Commercial Payments International’s “The North American Middle Market Conference 2012,” on November 8, 2012. The theme of the one-day event is “Seize the Massive Opportunity.” He will present in a session entitled, “AP Automation in the Middle Market: Exploring Challenges and Opportunities,” discussing best practices for increasing your commercial card volume without increasing your exposure to risk, and structuring your e-payables program to maximize revenues in a competitive environment.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard Incorporated announced its 3Q/12 net income of $772 million, up 8%, and net revenue of $1.9 billion, a 5% increase versus the same period in 2011. Net revenue growth was driven by a 14% increase in gross dollar volume on a local currency basis to $918 billion; an increase in…
eBay announced a planned fourth quarter pretax restructuring charge of approximately $15 million related to staff reductions at the company’s PayPal business unit. PayPal also is ending contracts with approximately 120 contractors globally thanks to a redesign of PayPal’s product organization, consolidating nine product groups into a single, more agile organization. The intent is to simplify and speed up how products are developed. PayPal expects to continue its strong global growth momentum and leadership through online merchant expansion and share of checkout, by driving payments innovation at point-of-sale retail for large, medium and small businesses, and by engaging consumers online and offline with payments products and experiences that offer choice, flexibility, simplicity and security.
ControlScan PCI compliance and security services eases small business PCI compliance through Allifide Merchant Group payment processing firm trusted by a national client base of hundreds of SMBs as well as more than 50 industry partners. Data from ControlScan’s recent survey of merchant acquirers shows that as SMB merchants’ PCI compliance rates increase, the occurrence of a data breach decreases. The partnership between Allifide and ControlScan saves Allifide’s merchants time and hassle”and reduces merchant confusion”with high-impact education and support services that guide them through each step of the PCI compliance process.
First Data electronic commerce and payment processing joined the 100,000 Jobs Mission, a coalition of major corporations that have jointly committed to hiring 100,000 transitioning service members and military veterans by 2020. First Data has recently reinvigorated its veterans recruiting strategy by hiring a retired veteran as the Employment Program Manager to develop programs to support and broaden service members and military veterans recruiting efforts. First Data invests in military friendly job boards and is committed to actively participating in veteran-focused career fairs as well as career expos on military installations.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After having demonstrated the greatest drop since its 2011 counter-figure in months, average credit card APRs erased any positive difference in October 2012. Now sitting at the exact average measured in October 2011, the average credit card APR has been clocked once again at 15%. This after experiencing a nearly 0.50%…
Clear2Pay next generation payment solutions launched its “ViVa” solution, allowing banks to launch a wide range of virtual/real payment scenarios to their retail and corporate customers, such as merchant payment, utility bill payment, small business accounts and P2P payments. Banks can embed ViVa within any – also non Clear2Pay – payment infrastructure. Clear2Pay launched “ViVa,” allowing banks to capture the entire virtual and/or real transaction, plus the underlying intelligence. This way banks facilitate their customers to buy, sell and collect and spend money, vouchers and loyalty points on and offline at the point of sale across a myriad of devices through one secure and trusted interface.
Accenture and Fundtech teamed to help banks improve global liquidity management in response to Basel III requirements and changing economic conditions. Accenture will work with Fundtech to deliver its Global Liquidity & Risk Management solution and jointly develop new diagnostic tools, process models, and operational approaches for banks across Europe, North America and Asia. Accenture and Fundtech have helped implement liquidity management solutions for major banks globally and will offer services and solutions designed to optimize operational control, visibility, and forecasting.
Datacard Group ID and card personalization have optimized their Datacard CardWizard instant issuance software for Electronic Benefit Transfer programs, allowing government benefits departments to instantly issue reloadable open-loop prepaid cards. Instantly issuing prepaid cards under public sector managed benefit programs significantly reduces costs because it eliminates the need to produce and mail cheques, by enhancing existing branch office benefits management systems and business processes. Utilizing the CardWizard issuance software and Datacard® hardware, Canadian government organizations can capture the necessary information for the benefits disbursement process, including accessing and synchronizing case management and account data for security and authentication, as well as supporting the funding management of prepaid benefits cards.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Euronet Worldwide electronic payments provider posted 3Q/12 revenues of $316.4 million, a 6% increase from $299.5 million and operating income of $24.2 million, a 20% increase from $20.1 million. Net income was $14.6 million compared with net loss of $3.2 million while transactions totaled 587 million, a 12% increase from 524…
Wright Express changed its name to WEX, reflecting its transformation and growth strategies which are focused on physical, digital and virtual corporate card payment solutions for businesses internationally. Since its beginnings as a fleet card provider in 1983, through a successful initial public offering in 2005, WEX Inc. has grown exponentially to become an international company with 2011 revenues of approximately $553 million.
Fiserv announced its Accurate Reconciliation solution for transaction matching, reconciliation and exception management has received the “SWIFTReady” Reconciliation Label for 2012. This renewal demonstrates Accurate Reconciliation solution meets stringent SWIFT criteria linked to the support of messaging standards, services and connectivity requirements, which are re-evaluated every year to ensure alignment with market changes. Complementing the SWIFTReady accreditation, the Accurate Reconciliation solution also introduced support for ISO 20022 XML messages, supporting clients in their integration of SWIFT MX message content and implementation of SEPA compliant controls.