IDC Financial Insights Shows Over a Third Use mPayments

IDC Financial Insights announced the results of the eighth annual Consumer Payments Survey, focused on the usage of emerging payment technologies. The new report, Business Strategy: Results from the 2012 Consumer Payments Survey (Document #FIN235594) found that mobile payments have more than doubled in popularity, reaching over 33% of survey respondents. Of those that had made a mobile payment, more than half used PayPal Mobile (56%), with Amazon Payments and Apple’s iTunes service statistically tied at about 40%. In addition, prepaid cards showed strong growth, particularly in the network branded and benefit submarkets. Network-branded (open loop) prepaid cards have drawn neck and neck with closed loop cards in consumer penetration. Overall, 73.5% of U.S. consumers now use online bill payment. This confirms that online bill payment is now the dominant way we pay bills in the U.S. IDC Financial Insights emphasizes the strong results in prepaid cards and mobile payments should lend urgency to financial institutions’ efforts to develop products in these areas.

Green Dot CTO Appointed Same at Mitek

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 and Aurus Partner on Mobile POS Solution

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.

Mobey Forum white paper Addresses Difficulty in m-Payment Adoption

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The development of mobile wallet technology is being held back by a number of ‘hidden controls’ which remain largely unexplored in the public domain, asserts Mobey Forum, the global bank-driven industry association enhancing the evolution of a sustainable and prosperous mobile financial services (MFS) ecosystem. Published today, Mobey Forum’s latest white…

Fifth Third Bank Launches HI Payment Solution

Fifth Third Bank has launched RevLink Collect, a new patient payment receivables solution for hospitals and healthcare organizations. This offering will help healthcare executives reduce the collection cycle for patient payments and provide more accurate and timely estimates for patients. RevLink Collect, which is part of Fifth Third Bank’s RevLink Solutions platform and healthcare receivables services, enables healthcare organizations to quickly generate and collect patient payments at the point of care. RevLink Collect provides a full suite of payment collection options, including check, cash, credit and debit card, Automated Clearing House (ACH), and payment plans. RevLink Collect also makes it easier for healthcare organizations to manage their reconciliation process by posting payments directly into their practice management systems.

8% the New Sticking Point for Unemployment Rate

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Remember 2011 when the unemployment rate did not budge more than a fraction of a percentage from 9%? Well it appears the 2012 answer to that scenario is 8%. Essentially unchanged since January, the number of unemployed persons (12.7 million) in June showed an unemployment rate once again just above 8%,…

FSV Payment Partners Houston Food Bank, Second Harvest for Food Drive

FSV Payment Systems network branded prepaid debit card products and processing services joined the fight to end hunger by partnering with networking food banks of Feeding America. The donations collected from the FSV Community of Giving campaign equated to 4,646 meals and will be shared by the Houston Food Bank and Second Harvest of North Florida in communities where FSV Payment Systems employees live and work. Additionally, the funds collected by FSV Payment Systems will support Houston Food Bank and Second Harvest of North Florida operations this fiscal year, including helping to acquire, process and distribute food to partner agencies; expand food programs; and increase community outreach and nutrition education.

QThru Launches Retail Checkout Mobile Platform

QThru launched a new mobile platform, allowing shoppers to scan items with a smartphone as they shop, facilitating an incredibly efficient checkout from their phone. The QThru system has had a successful test market deployment in the Seattle area. Aretailer’s products and pricing are seamlessly synchronized with the QThru cloud. Customers can then download the QThru smartphone app and start shopping. To complete the checkout process shoppers simply enter a previously stored passcode and scan a QR code at a checkout kiosk which completes the transaction from their phone. QThru uses a cloud-based, fully PCI-compliant, secure storage facility to protect payment and personal information. A receipt is generated from the kiosk, which is highlighted in a different color and is reviewed by a store employee at the door.

PayLane Adds Site Plugins

PayLane now allows shops built on Magento and osCommerce platforms to accept credit and debit cards, PayPal, Giropay, iDEAL and many more, and accept payments in 160 currencies from over 50 countries all over the world. The installation of the plugin takes only a few minutes and allows PayLane clients to process payments instantly. PayLane now offers a plugin for WordPress, which is a platform best known among bloggers. Both the platform and the plugin differ from standard e-commerce solutions. Using the PayLane plugin allows to prepare an easy-to-use system that enables readers to make a payment for a fixed-price service, product, access to the website content or to make a donation, for example by creating a custom button, such as “Donate” or “Pay”. Anyone who visits the Wordpress website will be able to make a payment or donation.

8% the New Sticking Point for Unemployment Rate

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Remember 2011 when the unemployment rate did not budge more than a fraction of a percentage from 9%? Well it appears the 2012 answer to that scenario is 8%. Essentially unchanged since January, the number of unemployed persons (12.7 million) in June showed an unemployment rate once again just above 8%,…