Bank of America Merrill Lynch today announced Bill Borden has been named managing director and head of North America Product Solutions and Dennis Sweeney has been named managing director and a Treasury Solutions Executive. As head of North America Product Solutions, Borden will manage the North America Product Sales teams that cut across Global Corporate Banking, Global Commercial Banking and Business Banking. He was most recently with Citigroup, where he was responsible for leading the team focused on developing Cash Management and Securities Fund Services relationships with U.S. state and local governments. Sweeney will work closely with various teams and global product leaders to provide senior finance executives at Bank of America Merrill Lynch’s largest global clients with advice, expertise, best practices and trends related to their treasury platforms. He was previously with General Electric for 20 years, most recently as Deputy Treasure.
Security Management Partners (SMP) independent information security consulting is now certified as a Qualified Security Assessor (QSA) of the PCI DSS. To achieve this certification, SMP has fulfilled the rigorous testing and training requirements of the Payment Card Industry Security Standards Council and is now one of a preferred group of providers qualified to assess any organization’s compliance to the PCI DSS standards.
MasterCard and the California Restaurant Association (CRA) announced an initiative to offer CRA members a range of creative programs and business intelligence solutions to optimize, streamline and grow their businesses. This will initially focus on tools delivered by MasterCard Advisors’ Information Services division including California Restaurant Reports and Market Vision Report. The monthly California Restaurant Reports, developed exclusively for the CRA, analyze extensive purchasing data to provide insights into restaurant level econometrics and trends, such as changes in sales, average ticket prices, and customer frequency across fast-casual, casual and family dining restaurants.
Synovus Bank made available its prepaid Synovus Connections Card at all Synovus Bank divisions as a payment alternative to a traditional checking account. The Synovus Connections Card works like a check card, but there is no checking account or credit check required. The card is appealing to customers with a specific need for a prepaid card, and as an affordable option for individuals currently paying check cashing fees because they do not have a checking account. The Synovus Connections Card allows customers to get cash at the ATM, make purchases most everywhere Visa debit cards are accepted, get cash back at point of sale, and make purchases online or over the phone. The card can be reloaded with no fee at any Synovus Bank division branch with cash and through direct deposit.
Midwest Independent Bank (MIB) has implemented Aptys’ PayLOGIC unified platform to support all aspects of payment processing. PayLOGICS’ second-generation technology, which integrates seamlessly with MIB’s existing infrastructure, improves operational efficiencies for the bank and streamlines payment processes for its respondent customers. With PayLOGICS, MIB has one centralized view of all customer payment activity, and as a result can process returns and adjustments directly within the system in support of its payment product, MIE.net (Midwest Image Exchange Network).
The National ATM Council wrote to U.S. Senate Majority Leader Harry Reid (D-NV) and Minority Leader Mitch McConnell (R-KY), asking for their support of Senate Bill 3394, to eliminate the present duplicative and ineffectual requirement for exterior fee notice posting on ATMs. This request follows NAC’s ongoing initiatives in Washington to have this harmful requirement eliminated by the Consumer Financial Protection Bureau (CFPB) and the Congress. NAC has previously filed comments and reply comments with the CFPB, and has actively lobbied key members of Congress to end the current fee sticker law requirement.
Regus announced United’s MileagePlus members may earn additional award miles when booking Regus’ range of business services. MileagePlus members earn seven award miles per dollar spent on a new virtual office, meeting room or video communication booking. Five award miles per dollar spent will be earned on new full-time office agreements at any Regus location. United MileagePlus Premier members also receive enrollment into Regus’ Businessworld Gold program, which provides access Regus’ global network of more than 1,200 business lounges in 95 countries.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With 8% the new contemporary standard for the unemployment rate, the number of unemployed persons (12.8 million) in July showed an unemployment rate once again just above 8%, holding steady at 8.3%. After dropping like a rock throughout the fall and winter months of last year, this is unchanged throughout the…
Bank of America Merchant Services will offer the First Data “OfferWise” solution to all eligible merchants’ 650,000 U.S. locations through 2Go Media’s iDeals Marketing Platform, which integrated the solution into its iDeals Marketing Platform bringing offer creation, distribution and redemption for merchants. The integration of the First Data OfferWise solution through an API developed by CardSpring will allow Bank of America Merchant Services customers to electronically attach offers such as deals, eCoupons and loyalty programs to one or more of a consumer’s payment cards or mobile wallets to enable automatic redemption of the offer at the point of sale. The customer simply swipes the card at the merchant’s point of sale and the offer is redeemed.
Eileen Serra has been appointed CEO, Chase Card Services. Most recently Head of Card Consumer-branded Products, Serra will oversee card customer segments for Affluent, Mass Affluent, Small Business Card, Partner Card Products, Commercial Card and business in Canada. She will also be a member of the Chase Consumer & Community Banking management team. Serra is responsible for the Mass Affluent and Affluent/High Net Worth customer segments. Previously, she served as President of the Affluent/High Net Worth business and led the brand advertising and media as well as the Chase-branded Ultimate RewardsSM program.
Datacard Group secure ID and card personalization solutions made available software upgrade for U.S. card issuers utilizing the its CardWizard issuance software to manage EMV compliant smart card programs. The EMV technology upgrade package offers Datacard Group customers the ability to integrate smart card personalization into their existing card issuing environments. The first phase of the EMV technology package includes upgrading to the current CardWizard software server and key management software, as well as installing a hardware security module (HSM) provided by SafeNet, Inc, a global leader in data protection. The software upgrade along with SafeNet’s HSMs will help customers meet worldwide standards and requirements for EMV compliant card programs, as well as compliance with Visa® and MasterCard® security recommendations.
MoneyGram global money transfer company has renewed its contract with Advance America consumer financial services. This allows remittance across Advance America’s 2,435 retail locations. The five-year renewal builds on a multi-year collaboration between the two companies and includes the addition of 242 locations to the network as a result of Advance America’s recent acquisition of CompuCredit’s retail store front consumer finance business.