MasterCard Business Provides Network Purchasing Power

Business owners can now visit a single website to streamline business operations and enhance productivity with the MasterCard Business Network. The MasterCard Business Network is powered by Rearden Commerce’s Deem commerce platform to furnish a personalized and highly-relevant purchasing experience to enable small and middle-market business owners to better manage their cash flow and expenses. It features integrated modules that expand purchasing power to save money on business supplies, simplify and improve T&E planning and streamline expense management to give these business owners a competitive edge. The modules focus on Purchase; Travel and Dining; and Expense.

Heartland Appoints President, Network Solutions

Heartland Payment Systems appointed Ian M. Drysdale president, network solutions to oversee Heartland’s growth in retail, petroleum and ecommerce markets. He was most recently with WorldPay over the preceding five years as senior VP, product and industry relations. Prior to that, Mr. Drysdale held several executive positions of increasing responsibility during 12 years with First Data Corporation. He holds a Bachelor of Arts in political studies with a minor in business administration from Bishop’s University (Canada) and a Master of Business Administration from Florida Atlantic University.

Clear2Pay and Fime partner on US EMV Migration

Clear2Pay next generation payment solutions and FIME consulting and market integration testing services for smart devices and secure chip-based applications extended their partnership to support US financial institutions and processors with a swift and reliable migration to the EMV standard. Globally, a significant number of countries have already adopted the technology and many more are in different stages of their migration. With the recent American Express, Discover, MasterCard and Visa EMV mandates and timelines, the United States’ EMV migration project now looks certain.

NCR Launches SMB Solution

The Small & Medium Business (SMB) segment is increasingly gaining prominence among tech companies such as NCR Corporation. As numerous SMBs are still using back-dated and time-consuming systems for payment, sales tracking and inventory management, records maintenance and key data review, NCR was quick to target this opportunity with its NCR Silver product. As a point-of-sale (POS) software platform, Silver provides easy-to-use and cost-effective cloud-based solutions that enable small business owners and entrepreneurs to manage their payments effectively and helps them to better manage their POS solution. The business platform runs with equal ease on the iPad, iPhone and iPod Touch.

Discover Card Accepted at Neiman Marcus

Discover announced its cards are now accepted at Neiman Marcus luxury retailer and Bergdorf Goodman stores in Manhattan, giving cardmembers Cashback Bonus on all purchases made at these stores. Neiman Marcus became a Discover Cashback Bonus partner allowing Discover cardmembers to redeem their cash rewards for Neiman Marcus gift cards that could be used in-store, at, Last Call, Bergdorf Goodman, Cusp and Horchow.

Fifth Third Appoints As Head of Retail Banking

Chad Borton has been appointed senior VP, head of Retail Banking for the Company with Fifth Third. Borton comes to Fifth Third from JP Morgan Chase where he held a number of senior management positions including Consumer Bank CFO, head of the Retail Distribution Network responsible for expanding Chase’s branch and ATM network nationally and Retail Market Manager for Chase’s branch network in several Ohio markets. Most recently he served as head of Branch Administration where he was responsible for managing more than 1,000 employees in the delivery of branch operational support for 5,500 retail branches. Borton will report directly to Steven Alonso.

VantageScore Named “Preferred Partner” by the NAFCU

VantageScore Solutions credit scoring model has been named a “Preferred Partner” by the National Association of Federal Credit Unions (NAFCU) Services Corporation, making it the only credit score developer to receive such a distinction. It has been designated a key provider of services to credit unions to help support their growth and productivity and will be providing NAFCU members and other credit unions with critical resources including research-driven white papers, and will offer a wide variety of educational content related to credit scoring through webinars, webcasts, podcasts and other channels via a landing page on NAFCU’s website. Unveils New Review Site reviews most of the well-known iPhone payment apps, such as the Square reader. These free devices that attach to a user’s smartphone are especially convenient for both buyers and sellers. Craftspeople, outdoor vendors, nightclub owners and artisans can now accept fast, secure credit card payments in lieu of cash. Non-profit groups can also benefit from accepting online credit card payments, because online merchant accounts allow for accurate recordkeeping.

Mobey Forum launches North American Chapter

Mobey Forum industry association driving the evolution of a sustainable and prosperous mobile financial services (MFS) ecosystem has expanded with Mobey Forum North America, a new arm of the association created specifically to address industry issues facing the region. The North American Chapter brings together key players in the marketplace to work through issues impacting the mobile financial ecosystem’s future and accelerate the development of sustainable MFS in this region. Members from American Express, Bank of America, Capital One, CIBC, MasterCard, TD Bank Group, US Bank and Visa, gather together to deliver sustainable, long-term mobile services to the mass market. It welcomes members from any supervised payment institutions, technology companies and mobile network operators.

Avidbank Provides $3mm Line of Credit to USA Technologies

Avidbank Corporate Finance, a Division of Avidbank, has provided USA Technologies a $3 million asset-based line of credit. The credit line is part of USA Technologies’ strategy to assist in the accelerated transition of cashless payment systems and services in the unattended small-ticket, retail market through its JumpStart program. USA Technologies wireless non-cash transactions, associated financial/network services and energy management provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.

JPMorgan Posts 2Q/12 Net Income of $5B, Card Revenue Down 5% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] JPMorgan Chase posted its 2Q/12 net income down from the 2Q/11 figure of $5.4 billion to $5.0 billion. With this, net income was $1.0 billion, a decrease of $80 million, or 7%, compared with the prior year, thanks in part to a lower reduction in the allowance for loan losses compared…

PULSE Deploys HP to Expand Transaction Processing

HP announced PULSE has selected its Converged Infrastructure to meet growing consumer debit card use while delivering efficient transaction processing services to clients. The company leveraged HP NonStop technology to eliminate unplanned downtime, enhancing client satisfaction, while reducing processing costs. The solution offers a combination of servers, networking and storage that easily scales and eliminates unplanned downtime. PULSE is deploying ReD’s real-time transaction monitoring and risk management software solution, ReD PRISM®, implemented on HP Integrity NonStop BladeSystem NB54000c and HP Integrity NonStop NS2200 servers for the DebitProtect application. The combined solution will deliver the scalability and performance necessary to protect financial institutions’ cardholder transactions at the ATM and point of sale from the threat of fraud.