VeriFone Systems has been awarded a five-year contract by the District of Columbia Taxicab Commission (DCTC) valued from $35 million to as much as $45 million factoring in potential advertising revenue. VeriFone won a competitive bidding process to become the exclusive vendor for installation and support of the DCTC’s Taxicab Smart Meter System project. VeriFone will develop, install and support payment systems integrated with driver and passenger information tablet displays for all of the District’s 6,500 taxis and providing electronic trip reporting, credit card payment processing, display of news and other programming, as well as safety alert activation features for both passengers and drivers. The contract also includes a Back Office Management Information System that will provide the DCTC with automated trip reporting and GPS location services. The addition of 6,500 cabs in Washington, D.C., will increase VeriFone’s taxi media footprint by 23% to over 35,000 in the USA alone, delivering over 10 billion advertising impressions annually.
Punchcard shopping app for personalized rewards is partnering Wipit mobile payment service for web, Android or iOS smart phone apps. With this, business owners can create loyalty and rewards programs for consumers who pay with cash. Punchcard lets users shop at any one of the 15 million local retail businesses where Punchcard works, take a photo of your receipt with the Punchcard app to verify your purchase and earn “punches” on a punch card for that business. Wipit allows mobile consumers to pay for purchases in mobile apps or online using cash while Punchcard makes it easy for these consumers to get rewarded for their loyalty to their favorite businesses.
IntraLinks global provider of inter-enterprise collaboration services and Misys financial services software forged a strategic partnership arrangement. Designed to better service participants in this $3.9 trillion dollar syndicated loan market by offering end-to-end process solutions that mitigate legal and operational risk and increase operational effectiveness, the partnership will significantly expand efforts in supporting the straight-through-processing of information that is critical to the lending process. The two companies will be launching a major upgrade to the Lenderbridge connector that currently automates the provisioning of lender access to IntraLinks’ virtual deal rooms directly from within Misys Loan IQ, embracing market standards in lender (counterparty) identifiers. This upgrade will serve as a foundation for the launch of additional loan process solutions including the complicated process of administering amendment voting.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.6 trillion in outstanding US consumer debt-up a jaw-dropping 13.2% since February- total outstanding revolving 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. With outstanding debt…
MasterCard joined with Stand Up To Cancer (SU2C) and Major League Baseball (MLB) to kick off the ‘Dine and Be Generous’ campaign designed to involve baseball fans and all consumers in the fight against cancer. From July 10 through September 28, 2012, when cardholders spend $10 or more for a meal on their MasterCard card, MasterCard will donate up to $4 million to Stand Up To Cancer. The program formally launches with a ceremonial first “swipe” by SU2C ambassador and 2012 MLB All-Star pitcher R.A. Dickey that will air during the MLB All-Star Game broadcast on FOX. The campaign builds on a successful first year in 2011 that raised more than $4 million for cancer research based on the use of MasterCard cards for purchases ranging from take-out to fine dining. MasterCard is providing enhanced ways for consumers to take get involved, allowing them register at www.facebook.com/mastercard to take action in a number of ways and involve their own social networks in supporting the cause. They can subsequently win weekly prizes of five $50 MasterCard prepaid cards and grand prize trip for two to a 2012 World Series game.
Fiserv appointed Dennis F. Lynch to its Board of Directors, a major contributor to the U.S. payments industry for over 30 years. Responsible for driving the adoption of card and payment solutions that have enhanced how consumers conduct financial transactions, Lynch is currently the Chairman of the Board at Cardtronics ATMs. He is also a Director, and former Chairman, of the Secure Remote Payments Council, a cross-industry organization dedicated to accelerating the growth, development, and market adoption of more secure ecommerce and mobile payments. Lynch was also previously the Chairman and Chief Executive Officer of RightPath Payments from 2005 to 2008 and the President and Chief Executive Officer of NYCE Corporation from 1996 to 2004.
Brightwell Payments prepaid card solutions for corporations and consumers acquired Directo paycard programs. The acquisition increases Brightwell’s penetration of the high growth paycard market while driving the efficiencies of increased scale. Brightwell provides program design, marketing, technology, distribution and fulfillment services for a comprehensive array of prepaid products, including general purpose reloadable, loyalty, award and promotional, and domestic and international payroll cards. Brightwell’s award-winning OceanPay® product has become the industry standard for maritime payroll.
Q2ebanking secure electronic banking solutions for banks and credit unions throughout the U.S., announced it is opening a second office to support its steady client growth with the resources and additional industry professionals needed to drive further success. Throughout the rest of 2012 Q2ebanking will hire approximately 40 new employees for the Atlanta office, focusing on new product development, implementation and delivery engineers as well as Q&A and customer support engineers.
Clean Power Finance online marketplace for residential solar financing and leading provider of solar sales software announced the appointment of Steve Olszewski to senior vice president, operations. He most recently was senior vice president at Discover Financial Services, where he led the student loans business through the integration of The Student Loan Corporation and later oversaw the largest portfolio acquisition in Discover’s history. He also managed the six-fold growth in the deposits business, which became the company’s largest funding source. Steve also led underwriting and servicing operations for GMAC’s auto insurance business and held operations strategy roles at Capital One. He holds an MBA from Northwestern’s Kellogg Graduate School of Management.
WesBanco selected Talaris Vertera teller cash recyclers to automate most of its 112 branches. Talaris cash automation solutions will enable WesBanco to solve several specific business issues including increasing physical security, reducing idle cash, improving teller staffing efficiencies all while enabling tellers to concentrate on providing a higher degree of customer service. Vertera cash recycler can accept, authenticate and store currency, providing branch staff more time to engage customers and reducing customer wait times.
Mitek Systems mobile imaging software announced Michael Strange joined the Company as CTO to lead technological advancements and finding new markets in which to serve both the banked and underbanked industry segments. Meanwhile, Dr. Grigori Nepomniachtchi has been named chief scientist and will report directly to Strange on engineering, product management and quality assurance. Strange was CTO of Green Dot Corporation, a provider of retail-based prepaid products to a broad base of U.S. consumers.
Daily Systems has partnered Aurus on an all-in-one Mobile POS Solution. On the “whizPay” iOS mobile payment framework solution from Aurus, the Daily Systems’ iAPS Sled becomes the complete all-in-one Mobile Point Of Sale Solution with an integrated Thermal printer, Mag Stripe Reader, 2D Barcode reader and Smart Card reader. The “whizPay” provides a secure mobile payment framework for iOS devices by de-risking mobile applications from payment processing, reducing the PCI scope of Point Of Sale Systems, providing key benefits of robust security, lower cost of POS development and deployment.