[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having not wavered much, average credit card APRs have demonstrated the greatest discrepancy since its year ago figure in months. After peaking at well over 15% following the holiday shopping season, credit card interest rates have plummeted back to averages not seen since August. Now standing at 14.91%, averages have witnessed…
The Finish Line is deploying VeriFone’s mobile checkout and multimedia-driven countertop payment solutions, f ollowing a successful trial, at all of its 638 locations equipped by mid-November when the holiday buying season begins. Finish Line is deploying 1,600 of the countertop multimedia MX 915 systems and 3,200 PAYware Mobile Enterprise secure mobile card acceptance devices for the iPod touch. Finish Line is completing a system-wide upgrade to the MICROS Systems xStore POS and MICROS miStore mobile Point of Sale, which are designed to increase sales associate productivity and build strong customer loyalty, and the new media-enabled VeriFone MX 915 customer-facing payment acceptance solution. The PAYware Mobile Enterprise card encryption reader, with integrated 2-D bar code scanner, works with all forms of electronic payment including magnetic stripe, chip and PIN, and contactless/NFC-enabled cards and phones.
Eduardo Tobon has been named president of Diners Club International, responsible for the entire Diners Club business, including marketing, product management, operations, client relations and overall business development. Tobon was most recently CEO of the U.S. Cards and Payments Division at Sovereign Bank-Santander, where he held leadership roles for strategy, product, marketing and sales. Prior to this, Tobon provided strategic consulting at two McKinsey legacy firms, Mitchell Madison Group and AT Kearney, as well as worked in production planning for Procter & Gamble.
Inside Secure launched its “AT90SCR200” EMV-compliant smart card reader microcontroller, allowing developers to more quickly and easily attain EMV level one type approval for their products, an important symbol of quality throughout the industry. The new INSIDE smart card reader microcontroller complies with the EMV 2000 version 4.3 standard and is also pre-certified to all relevant industry standards, including PC/SC, ISO 7816, GIE-CB, GSM, USB FS 2.0 and WHQL. In addition, the AT90SCR200 delivers superior communications speeds and features 100 per cent byte code compatibility with all current INSIDE AT90SCR-series smart card reader microcontrollers. The INSIDE “AT90SCR200” may be used to create a bridge between a contact or contactless smart card (when used with an RF interface) or USB smart card and the host processor in a variety of card-based systems, including contact USB PC-Link smart card readers, smart keyboard, PinPad, embedded readers and laptop smart card readers and conditional access modules.
Digital River global cloud commerce is set to acquire LML Payment Systems in an all cash transaction for $3.45 per share. Digital River has traditionally focused on online payment processing for enterprise and mid-sized merchants. LML Payment Systems processes online payments for more than 14,000 small to mid-sized merchants. The combination will enable Digital River to broaden its online payment services to businesses of all sizes. Collectively, the companies will handle more than $20 billion in online transactions for tens of thousands of companies across a broad range of industries, including software, consumer electronics, government, utilities, event registration and mobile payments.
SAP and Westpac Institutional Bank launched a partnership to develop Australia’s first real-time payment solution for large companies and institutions, heralding a new era in corporate banking. SAP’s market leading technology – NetWeaver Process Integration and Westpac, intend to deliver a one-step payment solution that will bring significant cost savings for some of the country’s largest companies. The real-time solution overcomes the normal multi-step process of digital payment instructions and is made possible by connecting the end-to-end payables and receivables data for large companies using Global Data Standards.
Chase Card Services now allows cardholders to use their ‘Ultimate Rewards’ points to use during checkout when using Amazon.com. Chase Freedom®, Chase SapphireSM and Ink® from Chase cardholders can now redeem one Ultimate Rewards point for one cent at Amazon.com, meaning 100 points can be redeemed for one dollar in eligible merchandise. The addition of Amazon.com Shop with Points to Ultimate Rewards expands Chase’s existing relationship with the online retailer. Chase has offered the Amazon.com Rewards Visa® Card in the U.S. since 2002, and earlier this year, launched the Amazon.ca Rewards Visa® Card in Canada.
PayLane.com online payments processor has launched an offer dedicated just to startups. PayLane has reached out to new companies – so they can focus on running their business, while PayLane takes care of every minute detail connected to implementing online payments. PayLane for Startups is a solution created just for new e-businesses, which will allow them to accept payments in EUR and GBP, through credit and debit cards (Visa, Visa Electron, MasterCard, Maestro), and PayPal. Every startup can implement for free single click payments and recurring payments, which are perfect for any kind of subscription programs, as well as descriptors – a custom description of the transaction on the bank statement. PayLane’s prices are transparent and have created a pricing calculator that shows, after choosing the estimated number of transactions for each payment method and their average amount, an expected monthly fee for their services.
Communication Federal Credit Union (CFCU) is set to provide its members a comprehensive suite of mobile financial services powered by Tyfone’s next generation mobile banking solution. Tyfone’s multi-mode next generation mobile banking service leverages the strengths of each mode (SMS, App, mobile Web) for an efficient and intuitive user experience. In addition to standard mobile banking features, Tyfone’s next gen mobile banking offers: bill pay, account aggregation, mobile remote deposit capture (mRDC), iCashe Mobile Wallet and the ability to enroll and customize mobile banking via a mobile device. Tyfone’s u4ia® Alert Engine delivers customizable alerts and relevant financial data direct to members’ mobile devices so they can keep tabs on their finances while on-the-go.
The Discover Fan Loyalty Poll finds that women are showing more spirit than men when it comes to watching the game and wearing their school colors. In the third week of Discover’s national survey designed to gauge college football fan loyalty, fans were questioned on the depth of their commitment to their teams. When asked how important is it that they watch their favorite team’s game each week, 75 percent of all fans consider it somewhat to very important to tune in. However, more women than men, 78 percent to 73 percent, see it as a higher priority. When fans were asked if they regularly wear clothing or other items with the logo of their favorite college football team, 46 percent said yes, down from 55 percent last week. Once again, women showed more team pride when it comes to wearing a team’s logo: 58 percent of women wear it compared to 38 percent of men. The University of Southern California dropped out of the running after its loss to Stanford last week. Only 16 percent of fans said they would consider naming a pet or a child after a team, and of those who said they would, women leaned toward pet names while men leaned toward baby names.
Oracle’s Retail Mobile POS was developed using the Verifone “PAYware” Mobile Enterprise solution and software development kit. The “PAYware” Mobile Enterprise for Tablet and Touch incorporates an encrypted card reader and bar code scanner for use with iPod touch and iPad. The mobile solution can integrate with existing POS infrastructure and supports most forms of payment acceptance, including NFC and EMV, in addition to regular magnetic stripe credit and debit cards. PAYware Mobile Enterprise works with all forms of electronic payment including magnetic stripe, chip and PIN, and contactless/NFC-enabled cards and phones.
Fiserv announced that Chicago-based Oak Bank has implemented its “Premier” bank platform and outsourced processing services. Oak Bank is also implementing Fiserv’s CheckFree® RXP® and CheckFree® Small Business for bill payment, Mobiliti™ for mobile banking, Business Online™ and Retail Online™ for online banking, Branch Source Capture™ and Merchant Source Capture™ for check capture, Business Process Manager for new account and process management, Fiserv® Clearing Network for image exchange and solutions for debit card processing. Mobiliti will give the bank robust mobile banking and payments functionality across a range of devices and networks. Retail Online and Business Online will provide the bank’s consumer and corporate customers with real-time account information, financial management tools and anytime, anywhere online banking.