Braintree Acquires Venmo mPayment

Braintree payments platform for online and mobile commerce acquired Venmo mobile and social payment application that makes it seamless for consumers to make and share payments with their mobile phones. The Venmo mobile payment application allows consumers to make purchases on their mobile device and allow Braintree to allow e-commerce companies to accept payments on mobile devices. Braintree has stored over 30 million credit cards from consumers who’ve purchased at merchants using Braintree’s payment gateway and vault. Consumers who have stored their payment information at one of the thousands of online and mobile applications that use Braintree will soon be able to utilize the Venmo digital wallet to pay merchants in just one click. Braintree powers payments for innovative online and mobile merchants including Rovio/Angry Birds, Uber, Airbnb, HotelTonight and OpenTable.

Bankruptcy Filings Nationwide Continue Decline

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Bankruptcy filings fell between 8-10% in 1Q/12 from the year ago period and down significantly during the period from June 2011 to June 2012 from the year ago period, according to the American Bankruptcy Institute. The Administrative Office of U.S. Courts reported filings dropped 14 percent during that period. Both Chapter…

Bank of America Launches Cash Back Deals Through Cardlytics

Bank of America made available its online and mobile cash back deals program, “BankAmeriDeals,” providing one-click deals they want through Bank of America’s Online Banking and Mobile Banking app. Cash back deals are put right into the customers’ account and are in addition to other rewards customers may already receive. Through the program, which has been rolling out in phases throughout the country, more than 130 million cash back deals have been served to customers. The program is free for Online Banking and Mobile Banking customers. Deals from a variety of retail categories appear in Online Banking, so customers can choose the deals they want while they’re managing their finances. Run by Cardlytics through its targeted advertising network, the program includes national as well as local and regional merchants.

Virtual Piggy Partners Payvision

Virtual Piggy online youth purchasing entered into a Strategic Partnership with Payvision to expand the Virtual Piggy e-commerce service to the global marketplace. Virtual Piggy has been designed to support transactions in over 100 different currencies and is currently integrated with leading payment gateways. This agreement adds Payvision to that group and gives Virtual Piggy greater ability to expand in the international marketplace. Payvision’s experience in different international regions, has resulted in a global network of global acquiring banks, connecting over 300 trusted business partners with more than 5000 web merchants worldwide, for which they process over 100 million transactions a year.

hyperWALLET Consumer Prepaid Product Line

hyperWALLET global payment solutions expanded its prepaid card product line to include a General Purpose Reloadable (GPR) Visa prepaid card for the financial needs of independent sales representatives in the direct selling sector. hyperWALLET Best in Category for Prepaid Incentive, Reward, Rebate and Loyalty Program at the 2012 Paybefore Awards, will offer the full-feature, low-fee General Purpose Reloadable (GPR) Visa prepaid card to its USA corporate clients and their payees. Similar to other general purpose prepaid card programs in the market, hyperWALLET’s card can be used as a bank account alternative, allowing the cardholder to fund the card from a variety of sources, including cash at over 40,000 retail locations and direct deposit of employment earnings, such as wages or salary.

Discover Employee Training Culture Awarded

Discover Financial Services is a winner of the Learning! 100 Award by Elearning! Magazine for its learning, culture, innovation and collaboration that drives performance. The program supports workers-in-training to perform as if they were current employees already staffing the call centers. This program is used by Discover to ensure that customers are offered a premier level of customer service. Discover ranked 19 out of 60 corporate enterprise honorees in the Learning! 100. The Learning! 100 Award program has a research-based approach. Nominees were evaluated for Best-in-Class Learning & Development assessment, Learning Culture index and overall organizational performance.

Wells Fargo Waives Remittance Transfer Fees

Wells Fargo & Company is waiving remittance transfer fees for ExpressSend transfers for customers sending money using the ExpressSend service to the Philippines impacted by the floods, effective August 15th-30th. The Bank is also donating $50,000 to the American Red Cross for relief efforts. ExpressSend customers can send up to $3,000 a day for $4 if originated from a Preferred, Complete Advantage, or Premium Membership Checking.

Capital Payments Now Bluefin Payment Systems

Capital Payments has changed its names to Bluefin Payment Systems following its merger with the Company. Capital Payments has become a leading strategic partner to integrated software vendors (ISVs), developers and software as a service (SaaS) providers serving more than 15,000 U.S. and Canadian businesses. In an effort to stay ahead of a growing demand for secure gateway solutions in the payment industry, Capital Payments merged with Bluefin Payment Systems in Q2 to offer payment acceptance technology solutions leveraging Bluefin’s proven and feature-rich processing platform.

USA Technologies Launches EPort mAcceptance

USA Technologies launched ePort Mobile mobile acceptance solution for retailers to accept credit and debit cards “on the go” through USAT’s highly secure, turnkey ePort Connect® service platform. USAT’s entry into the multibillion dollar mobile payments acceptance market leverages its fifteen plus years of industry leadership in converting traditionally cash-based, unattended retail businesses to cashless payments. With this, credit card data is encrypted twice and is transmitted using a proprietary communication protocol; Durable, industrial grade card magnetic swipe reader option designed for commercial applications; and the ability to integrate ePort Mobile sales and transaction data with other USAT products, including ePort® G8, EDGE and SDK.

TSYS Inks Partnership Agreement with Acclaris

TSYS Healthcare signed an agreement to provide benefit card processing and other services to Acclaris, furnishing solutions for consumer-driven healthcare offerings, flexible spending accounts and other reimbursement account administration for health plans, third-party administrators, outsourced human resource organizations and banks. TSYS Healthcare will bring to the partnership processing capabilities that enable advanced card functionality.

StubHub Ticket Oak Intros Rewards Program

StubHub ticket marketplace launched its comprehensive loyalty rewards program, StubHub “Fan Rewards,” offering rewards for eligible purchases plus the opportunity for unique fan experiences and complimentary seat upgrades. Fans across the country can sign up for StubHub Fan Rewards online and start earning rewards on their next purchase. Similar to rewards programs in the travel industry, StubHub Fan Rewards offers perks and benefits to frequent users of StubHub.com. The program is the result of customer feedback from the company’s most frequent users and StubHub’s continued commitment to rewarding brand loyalty. The rewards program offers the Star and Superstar levels, letting users earn 2% in rewards for each eligible purchase and- once they reach $10 in rewards, they become eligible for a $10 FanCode to use on any future StubHub.com purchase.

Americans Spend on the Open Road in 2012

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While overall consumer spending on travel has remained flat since 2011, road trip purchases on gas, fast food, hotel, car rental and toll purchases saw double-digit increases between the first and second quarters of 2012 and a 3% increase since 2Q/11. Meanwhile, airline purchases only grew 1% between 2011 and 2012…