Square launched new features today for Square Register and Pay with Square that further deepen the relationship between buyers and sellers. Square allows business owners to create rewards programs that both attract new customers and make existing customers return, again and again. With more than two million individuals and businesses able to accept credit card payments with Square across the United States, Square is focused on providing the tools people need to grow and manage businesses. Square Register users are five times more active on a weekly basis than Square Card Reader users and they process approximately 2x more revenue. Square’s latest offering will allow participating merchants to give regular customers VIP treatment starting with the first visit. Customers will be able to store cards from their favorite Square businesses and keep track of progress towards rewards.
Harland Financial Solutions announced Members Heritage Credit Union implemented its UltraData Enterprise Core solution, including UltraData Enterprise CRM, Cavion® Internet Banking, Cavion Voice Banking, Cavion Mobile Banking, Cavion Bill Pay and ActiveView® Content Management. The credit union selected this product set from Harland Financial Solutions to provide its members with high-touch service, while increasing efficiency. In addition to the ease-of-use of UltraData Enterprise Core, integrated member relationship management from UltraData Enterprise CRM will enable the credit union to improve the member experience by presenting a unified approach to service. ActiveView Content Management will aid the credit union in better managing the storage, retrieval and flow of documents and information across the entire organization, which will improve efficiency and enable the institution to better service members seeking information.
Omgeo made available new functionality on Omgeo ProtoColl, its automated collateral management solution. The new version of ProtoColl has been developed to help market participants manage their collateral and risk management operations ahead of the implementation of complex regulatory requirements for over-the-counter (OTC) derivatives clearing. The newest ProtoColl enhancements, available in version 7.5, provide market participants with a single, holistic view of their collateral exposures across bilateral and centrally cleared (CCP) OTC derivatives trades, as well as exchange traded derivatives and other collateral-related transactions such as repurchase agreements and securities lending activities. Users can manage the entire collateral life-cycle with ProtoColl, allowing them to execute robust counterparty risk management procedures and demonstrate the results to regulators and investors.
USA Technologies wireless, cashless payment and M2M telemetry solutions for self’serve, small’ticket retailing industries, announced that Glass Lewis & Co. (“Glass Lewis”), one of the nation’s leading proxy advisory firms, has recommended that USA Technologies’ shareholders vote FOR all nine director nominees on the WHITE proxy card at USA Technologies’ 2012 Annual Meeting of Shareholders to be held on Thursday, June 28, 2012. In its June 14, 2012 report, Glass Lewis lauded USA Technologies’ progress, particularly in the areas of governance, EBITDA turnaround, and LTM revenue growth. The report further noted 1Q/12 being the first full quarter that Mr. Herbert has served as CEO, the Company recorded a positive quarterly EBITDA of approximately $253,000, an improvement over the negative quarterly EBITDA figures recorded by the Company over the prior four quarters. In response to the Glass Lewis report, USAT was extremely pleased that Glass Lewis supports the election of all of USAT’s highly-qualified and experienced director nominees.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After months of cardholder pay-downs, card chargeoffs are on the way up once again. Having not seen an uptick since August 2011, card chargeoffs in April were up 27 basis points from the March figure of 5.17% to 5.44%, although the outlook remains bright for the remainder of this year as…
ACI Worldwide (ACIW), a leading international provider of payment systems, announced a global partnership with Spectrum Message Services Pty Ltd, to deliver ACI mobile alerting powered by Spectrum’s MoneyGuard product. The combined solution will add a critical layer of protection to financial institutions’ fraud systems by using the flexibility and convenience of interactive SMS messages to identify and stop fraud quickly. Organizations utilizing ACI mobile alerting will be able to identify suspicious transactions in near real- time and send an SMS message to the customer containing details of the transaction such as location and amount. If that transaction is fraudulent the customer can respond with a simple ‘BLOCK’ message and the card can be frozen. This has the potential to stop fraud much sooner than current methods available while improving customer satisfaction by preventing cards from being blocked incorrectly by banks attempting to stop fraud themselves. The interactive nature of the system will help to improve customer service.
Heartland Payment Systems announced three new executive positions to further develop its portfolio and services within key industries and extend the company’s strong growth track record. With this, Robert H.B. Baldwin, Jr., previously president of the company, will serve as vice chairman; Michael A. Lawler, previously chief of corporate development, is being promoted to president – strategic markets group; and David Gilbert is joining Heartland as president – hospitality group. Baldwin will continue working closely with Mr. Carr, with responsibilities for key industry relationships, investor relations, information security, and customer service operations. A 12-year veteran of Heartland, Mr. Baldwin will also be an essential collaborator with the business group leaders in the planning and execution of Heartland’s growth strategies.
The HSBC Business Banking app, which allows customers to access their business accounts at any time and from anywhere in the world, is now available to hundreds of thousands more of its customers as an Android app, The original app, already available for iPhone, iPad and iPod touch, has proved to be a huge success with tens of thousands of HSBC business banking customers already choosing to manage their accounts using the convenience of the app. The new Android app provides the same pioneering functionality, including the ability to set up new beneficiaries while mobile. Blackberry users are benefitting from enhanced web content too, and will also be able to set up new beneficiaries while mobile, making life a little more convenient for businesses who need this added flexibility if they are not necessarily tied to a desk.
ACI Worldwide (ACIW) payment solutions expanded its partnership with Bell ID smart card and token management solutions to deliver issuance and management of mobile NFC payment tokens for devices equipped with contactless technology, using ACI Token Manager(TM) for Mobile. The product is enhanced by ACI’s expertise in providing contactless and mobile payments solutions to some of the largest retailers and financial institutions combined with Bell ID’s leadership in NFC lifecycle management software. It provides over-the-air (OTA) lifecycle management of applications, cryptographic keys and secure elements on NFC enabled mobile devices. The platform can be implemented by organizations choosing to launch mobile payment systems or seeking to add Trusted Service Manager (TSM) capabilities to their offerings.
Star One Credit Union partnered Tyfone mobile services to its more than 89,000 members worldwide to offer mobile banking services to its members, including Fiserv XP2 core integrated mobile banking, enhanced strong ID authentication mobile security and a seamless path to NFC contactless payment technology. Tyfone’s multimode mobile banking solution offers a complete range of features delivered to Star One members via mobile application, a mobile website and/or text messaging. Features include Mobile Remote Deposit Capture; Rate Watch Alerts; Fraud Monitoring and Analytics; and Star One Account Aggregation.
USA Technologies wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retailing industries, announced that Institutional Shareholder Services (“ISS”), one of the nation’s leading proxy advisory firms, joins Glass Lewis in recommending FOR the election of ALL nine USAT director nominees on the WHITE proxy card at the USAT 2012 Annual Meeting of Shareholders to be held on Thursday, June 28, 2012. They are pleased ISS recommends USAT’s shareholder vote FOR ALL nine of USAT’s director nominees. USAT agrees with the conclusions ISS reached after comprehensively evaluating the Company’s strategic plans to continue to build shareholder value. USAT’s Board is focusing on a high-margin service model that is developing a reliable, profitable stream of recurring revenues that creates a foundation for long-term value creation. ISS realizes, as we do, that as result of this strategy, USAT’s financial and operational positions are fundamentally strong and the Company is positioned for profitability and growth.
Evolution1 electronic payment, on-premise, and cloud computing healthcare solution that administers reimbursement accounts – including HSAs, HRAs, FSAs, VEBAs, PRAs, and Wellness and Transit Plans – has announced the recipients of its 2012 Partner Excellence Awards. Award recipients were recognized for reaching significant milestones in 2011 across several areas including growth, evangelism, leadership, innovation, and customer service as well as overall outstanding Partner successes. The 2011 Partner Excellence Awards were presented in 10 categories: Service Excellence, Growth Excellence, Leadership, Evangelist of the Year, Innovator, Market Maker, New Partner of the Year, Card Partner of the Year, Platform Partner of the Year, and Partner of the Year. Award winners are:
Service Excellence: eflexgroup, Inc., Madison, Wisconsin, and Manley Services, Springfield, Oregon
Growth Excellence: National Benefit Services, West Jordan, Utah, and HealthSCOPE Benefits, Little Rock, Arkansas
Leadership: John Biwer, Discovery Benefits, Inc., Fargo, North Dakota
Evangelist: 125 Company, Germantown, Maryland, and Benefit Strategies, LLC, Manchester, New Hampshire
Innovator: Workable Solutions, Inc., Orlando, Florida; Intuit, Mountain View, California; and Chappelle Consulting Group, Birmingham, Alabama
Market Maker: Peak1 Administration, Coeur d’Alene, Idaho; Chard Snyder & Associates, Mason, Ohio; and Fifth Third Bank, Cincinnati, Ohio
New Partner of the Year: M&I Benefit Services, Appleton, Wisconsin
Card Partner of the Year: Benesyst, Minneapolis, Minnesota
Platform Partner of the Year: ACS Benefits/BCBS of North Carolina, Winston-Salem, North Carolina
Partner of the Year: US Bank, Minneapolis, Minnesota