Western Union Highlights Strategic Initiatives

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Western Union Company held its Annual Meeting and reiterated the company’s strategy while emphasizing its commitment to expanding and evolving the business. “I believe Western Union has the assets, capability and drive to be a truly customer-centric organization,” said President and CEO Hikmet Ersek. “I look forward to continuing to…

CKE Restaurants Helps Fight Inflated Card Swipe Fees

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CKE Restaurants, parent company of Carl’s Jr.® and Hardee’s® brands, announced it has joined with other quick-serve restaurant and convenience store chains in filling an amicus brief in support of a lawsuit against the Federal Reserve regarding unjustifiably high swipe fees charged by major banks. CKE and the other chains strongly…

Version One Now Sapphire Systems Document Manager

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Document management software author, Version One, announces a partnership agreement with Sapphire Systems (Sapphire), a global provider of financial accounting, ERP and business management systems. Under the terms of this global agreement, Sapphire is re-selling Version One’s document management and imaging solutions, tightly integrated into Infor10 Financials Business (SunSystems) and SAP…

Card Chargeoffs & Delinquencies Drop like a Rock

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Despite all the dismal data on consumer behavior lately, U.S. credit card ABS performance saw positive gains in May as late stage delinquencies reached six-year lows to only 2.14%, a nine basis point (bp) improvement for a 27% improvement from the year ago period. Delinquencies more than 30 days past due…

U.S. Bank Launches Cobranded Card App

U.S. Bank has introduced an app for Android allowing retail partner customers to apply for a credit card while they are shopping, which they can use for purchases before they leave the store. U.S. Bank plans to continue to roll out the U.S. Bank Card App for Android and iPhone to other cobranded partners in 2012. The Android version of the REI app, called the “REI Visa App,” is free and available from REI’s website and at Google Play. The app allows consumers to easily apply for a U.S. Bank REI cobranded credit card and access a secure, virtual credit card via their mobile phone.

Despite Slow Growth in Jobs, Consumers Rack up the Debt

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.54 trillion in outstanding US consumer debt-up a jaw-dropping 10.2% since February- total outstanding revolving credit was up 7.8% in March for a steep jump from $798.5 billion in February to $803.6 billion. This compares to the year ago figure of 790.6 and comes as unemployment improved marginally…

GlobalPlatform Names TEE Compliance Work Group Chair

Stephanie El Rhomri, New Services Marketing Manager at GlobalPlatform qualified laboratory and secure chip test tool provider FIME, has been appointed as the Trusted Execution Environment (TEE) Compliance Work Group Chair for industry association GlobalPlatform. The TEE is a secure area that resides in the main processor of a mobile device, such as a smart phone, and ensures that sensitive data is stored, processed and protected in a trusted environment. It will offer greater security to the screen and keyboard of a mobile device, protecting against attacks and offering the secure storage of sensitive information.

HSBC Appoints Head of U.S. Payments/Cash Management

Michael Cummins has been appointed the HSBC head of Payments and Cash Management in the United States. He will oversee all aspects of the U.S. Payments and Cash Management business, including sales, product strategy and innovation, client and business management and risk and control management. Most recently with J.P. Morgan Chase where he spent 20 years in the treasury and commercial businesses at the bank and its predecessors, he served as a managing director and sales executive in J.P. Morgan Treasury Services with oversight of the Corporate Client Banking segment. In previous roles, Cummins holds a Bachelor of Science degree in business administration and an M.B.A. from Columbia University.

Euronet Deploys Independent and Shared Auto Deposit Terminal Networks

Euronet Worldwide payments provider has deployed its first Independent and Shared Automated Deposit Terminal (ADT) Networks in Poland and Romania. Euronet’s new Independent ADT Networks in Poland and Romania feature off-site ADTs located in high-traffic retail locations which have extended hours, making access more convenient than traditional bank branches. ADTs allow customers to enjoy real-time access to their funds, reduced wait times at the bank branch and a variety of deposit types including account deposits and deposits for credit card or loan payments, with additional transaction types to be supported in the future.

U.S. Bank Launches iPad Banking App

U.S. Bank has released a new banking application that is designed specifically for iPad users through the iTunes store. This lets customers deposit checks using the iPad’s camera, just as they can in the iPhone and Android apps, in addition to making person-to-person payments, viewing account balances and transactions, paying bills, making payments to other U.S. Bank accounts such as their mortgage and car loans, and reviewing rewards information. The iPad app was created in partnership with Fiserv using its Mobiliti platform.

OmniPay Awarded Four Times at US Payments Event

OmniPay,global payments processor has won four awards at the 2012 Card Not Present (CNP) Expo due to its unique ability to provide a single global platform and service supporting the multi-currency processing requirements of many of the world’s leading merchant acquiring banks, payment processors and eCommerce merchants. OmniPay was the only company to win four awards, namely customer choice for best processor, customer choice for best chargeback management solution, first runner up for best CNP program outside the US and first runner up for best chargeback management solution. OmniPay won the best processor awards for a number of reasons highlighted by the CNP judging panel, including; Operating the largest single global end-to-end and fully integrated payments platform; Best-in-class, pioneering multi-currency processing platform and service that is unmatched in the industry; Optimal transaction interchange qualification and economies of scale ensure a low cost, high value payments processing service for each customer; OmniPay employs the most knowledgeable and experienced global payments team, managing more than one billion transactions per year; and OmniPay won the best chargeback program awards in recognition of the highly innovative system it has developed to enable banks to automate otherwise very manually intensive business processes.