Onebip Launches One-Click mPurchasing

Onebip mobile payment business unit of global mobile commerce company Neomobile, launched its single-click purchase feature for its Onebip Mobile Browser. Brands, mobile companies and digital and online merchants can now use Onebip’s new one-click feature to provide the simplest, smoothest and most intuitive way possible to make a payment on a mobile device. The new one-click feature means that mobile consumers worldwide can purchase digital content and services – such as music and video downloads, virtual currency, media subscriptions and games – via the browser on their mobile device, with just a single click of the Onebip icon. Onebip uses an encrypted identification process to immediately recognize the user’s phone number, which provides a secure, automatic authentication so that the user does not have to input any credentials such as a password or PIN. The user only needs to click once on the Onebip icon to confirm their transaction: no further actions are needed.

Consumers Running Up Card Bills, Paying On Time

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Total outstanding revolving US consumer credit skyrocketed 11.2% in May since the year ago figure. This is up from the April figure of $862.2 billion and compares to the year ago figure of $793.1 billion. However, U.S. credit card performance continues to excel as delinquencies are hitting record lows to an…

NCR 2Q/11 Revenue Up 11% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NCR Corporation posted 2Q/12 revenue of $1.41 billion, up 11% from the year ago period and second-quarter income from continuing operations (attributable to NCR) of $67 million. NCR’s Financial Services segment generated second-quarter revenue of $783 million, an increase of 7% from the second quarter of 2011. The NCR Retail Solutions…

U.S. Bank Offers Surcharge-Free Transactions at MoneyPass ATMs

Kroger prepaid debit cardholders can now enjoy surcharge-free transactions at all ATMs that offer the MoneyPass Network network of over 23,000 ATM locations. Surcharge-free MoneyPass ATM transactions are an extension of U.S. Bank’s extensive financial services relationship with The Kroger Co retailers. In 2010, U.S. Bank and Kroger formed a strategic alliance that offered Kroger customers and associates a suite of payment products and financial services, including reloadable prepaid debit products that offer rewards with every purchase and can be used to shop and pay bills online.

Late Card Payments Hit Record Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. credit card performance continues to excel as delinquencies are hitting record lows to an 18-year record low of 1.78%. The June charge off rate of 1.89%- meanwhile- is the second lowest ever recorded and he chargeoff index is down to 5.09%. Given this, charge-offs are not expected to top 6%…

MasterCard Index Shows Small Business Outperforms Overall Retail Sales

MasterCard Advisors released its SpendingPulse index in partnership with Wells Fargo indicating June spending at small retailers was up 8% from the year ago figure, higher than the overall U.S. retail growth rate of 6.9%. Each MasterCard SpendingPulse for Small Business report includes information about current retail sales (excluding autos and gasoline), year-over-year growth in total retail sales (excluding automotive sales), as well as views with and without food services. The report provides valuable information for all stakeholders who support or work with small businesses, including merchants who sell to small retailers, advertisers, and economists.

TSYS Inks Multi-year Bank of America Processing Agreement

TSYS completed master services agreement, with a minimum six year term, with Bank of America to provide processing services for its consumer credit card portfolios in the U.S. and will continue to process Bank of America’s commercial credit card portfolios in the U.S. and Internationally. For this, Bank of America will utilize TSYS’ “TS2” core payments engine and its customized processing solutions to include risk and financial management and business intelligence delivered through a dedicated support team. TSYS currently processes Bank of America’s commercial and small business card portfolio on its TS2 platform, and that relationship will continue under the new agreement, and plans to complete the conversion of Bank of America’s consumer card portfolio from its in-house processing system in mid-2014.

Elan Launches Edward Jones MasterCard

Elan Financial Services partnered to deploy the Edward Jones MasterCard personal and business credit card products and services. The “Edward Jones MasterCard” lets cardholders earn Loyalty Points for net dollars spent that can be redeemed for travel, merchandise, gift cards, charitable donations or ChoiceInvest. ChoiceInvest is a new option which allows clients to redeem points for cash that may be directly deposited into their Edward Jones account.

Dynamics Now MasterCard Certified for Card Production

Dynamics next-generation payment cards has been certified as a payment card production vendor for the MasterCard payment network to offer consumers a battery-powered MasterCard-branded card. This will provide spending, security, and personalization options. Dynamics has pioneered the creation of battery-operated payment applications that integrate full computer architectures, which may include buttons and displays, into the cards to provide new features.

i2c Payments Platform Serves 216 Countries & Territories

i2c payment processing and emerging commerce solutions issuing processing platform, MCP, now processes payment transactions for consumers in 216 countries and territories. MCP is a global payment processing platform from which companies can launch and manage card-based, virtual and mobile payment products. The company, which is certified with Visa and MasterCard for global processing, most recently helped clients in Latin America & the Caribbean, Africa and Asia go to market with new payment products. Last month i2c announced plans to bring a new data center online in Shanghai, China.

SunTrust Bank to Deploy NCR Single-Slot ATM Technology

SunTrust Bank is deploying ATMs from NCR Corporation, having already installed more than 1,200 NCR SelfServ ATMs equipped with Scalable Deposit Module (SDM) technology, allowing customers to deposit both cash and checks at the same time through a single deposit slot. SunTrust expects NCR will be the sole provider of deposit automation ATMs at the bank, which the bank began deploying in the Atlanta metro area and has replaced older NCR and non-NCR models at branches in Washington, D.C., Maryland, Florida, Georgia and other major metropolitan markets throughout the past year. ATM users can deposit up to a total of 50 checks and notes in any orientation at the same time.

NACHA Profiles Business Practices for FFIEC Authentication

NACHA Electronic Payments Association, released a resource to support financial institutions to refine implementation of the provisions of the Federal Financial Institutions Examination Council (FFIEC) Supplement to Authentication in an Internet Banking Environment. Developed by NACHA’s Risk Management Advisory Group, the release identifies sound business practices that financial institutions could use to create internal policies and procedures in response to guidance in the Supplement. The guidance requires financial institutions to complete periodic risk assessments, establish layered security controls, and educate customers on various forms of potential fraud.