Denver-based IP Commerce is offering payment services powered by PayPal to help small businesses streamline their accounting processes and better manage cash flows. These PayPal services include an email invoicing solution in “PASS Commerce Center” and a “Sales Ticker,” as part of the “PASS Gadget” which can be placed in the “Windows Vista” sidebar. The new services for SMBs are now available in the “PASS Commerce Center.” The solutions leverage IP Commerce’s “IP Payments Framework,” a single platform that provides the framework to enable disparate applications and services to communicate. PayPal’s technology allows small businesses to create and send their customers payment-enabled invoices over email using the “PASS Email Invoicing” service. The invoices include an encrypted payment button that is embedded into the invoice, allowing small businesses to accept payment through their PayPal accounts. The “Sales Ticker” allows PayPal small business users to add an active desktop icon that receives and alerts them to incoming PayPal payments in real-time, without the need to login to their PayPal accounts.
Shift4 has introduced “4GO with SecureSwipe” technology software that removes all usable personal credit card data at the POS terminal, in back-office data storage and during all data transport. It works by securely encrypting transaction data at the point of sale, replacing any potentially useful data with “faux data” that can not be used by anyone outside the system. which means useable data is never retained in the POS device or the merchant’s system. Shift4 is a developer of secure financial transaction processing software and services and provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices, auto rental and e-commerce markets.
Artist Peter Max is making 18 pieces of his artwork available to members of Citi’s reward program. For the first time members of the “ThankYou Network” can redeem points, starting at the 32,200 point level, for fine art. The free rewards program enables members to earn points from using participating Citi credit cards, banking at Citibank with an eligible checking account and booking qualified travel on Expedia.com. There are currently 11 million “ThankYou Network” members. Max has been referred to as a “Pop icon,” “Neo Fauvist,” “Abstract Expressionist” and America’s “Painter Laureate.” The Citi “ThankYou Network” is offering two original works painted in acrylic on canvas, ten signed lithograph prints, and six posters signed and dedicated to the recipient by Peter Max. In addition, members with high point levels can redeem their points to have Peter Max paint a custom portrait of their dreams.
Global prepayment and value transfer market specialist Emida Technologies has signed an agreement to offer the “nFinanSe Discover Prepaid Card”. Emida is scheduled to offer the nFinanSe Reloadable General Spend and Gift Cards with retail packaging and point-of-purchase marketing materials in English and Spanish to their approximately 10,000 retail affiliates nationwide in the summer of 2007. nFinanSe Inc. is a financial services company and provider of stored value and prepaid card solutions. Emida is a provider to the global prepayment and value transfer market, operating in 18 countries.
A new report has found that 48% of consumers ages 25 to 34 prefer debit cards for Internet transactions, as compared to only 39% of all online consumers. Thirty-four percent of online consumers ages 18 to 24 prefer PayPal or similar services versus 27% of all online consumers. The JupiterResearch study also found that the introduction of the Internet, maturation of PayPal and related services, emergence of debit cards and stored value cards, and availability of data-capable mobile phones and other mobile products are embraced by younger consumers as they have co-existed with technology for most of their lives. Jupiter says issuers and vendors must keep an eye on the emerging data habits of younger adults, and pay special attention to how their payment and data preferences feed into tomorrow’s payment-product and form-factor innovations.
A redress administrator working with the Federal Trade Commission is using stored-value MasterCards to settle claims. Robb Evans & Associates is issuing the cards to victims of a 2001 pyramid scheme run by SkyBiz. In early March, the FTC announced the deadline for consumers to submit claims in this case. The cards were sent out this week and must be used by September 20th. The case involved the sale of SkyBiz “e-Commerce Web Paks” which sold for $125 each. Buyers were encouraged to multiple paks under a classic pyramid scheme, according to the FTC which filed suit in 2003.
Dynamic Card Solutions’ “CardWizard” product has been recognized as an official registered “PathWays Connector” component for the “Summit Information Systems Spectrum” core processing application. The PathWays Connector creates a two-way communication channel between DCS’ CardWizard software and the Summit Spectrum application. As one of only two companies to accomplish the PathWays Connector registration, DCS’ CardWizard software can now be integrated by Summit’s credit union customers so they can instant issue and rePIN cards seamlessly without risk of database corruption. Spectrum customers will order the CardWizard software directly from DCS while ordering the CardWizard PathWays Connector component from Summit. As part of the Summit Registered PathWays Connector program, DCS will be notified of any changes or enhancements for the PathWays Connector. At that point, DCS can update its CardWizard software and run it through Summits’ testing process, ensuring that credit unions will not experience interruption of their card issuance system. Summit Information Systems provides technology that drives the service at many of today’s most innovative credit unions. Dynamic Card Solutions is an innovative developer of instant issuance and PIN selection solutions for banks, credit unions and retailers.
Based on first quarter reports, MasterCard continues to be the fastest growing payment card network in the U.S. with a 15.7% year-on-year jump in gross dollar volume, compared to VISA’s 9.1% gain, American Express’ 13.5% increase and Discover’s 13.1% rise over 1Q/06. Over the past four quarters the four major payment card networks have racked-up $3.3 trillion in U.S. gross dollar volume on credit and debit cards. CardData ([www.carddata.com]) reports that VISA’s U.S. share, based on U.S. GDV, is now 54.1%, compared to MasterCard’s 29.2% share. During the first quarter VISA posted U.S. gross dollar volume on all products of $440 billion, compared to MasterCard’s $237 billion. Over the past four quarters, VISA GDV has climbed to $1789.5 billion compared to MasterCard’s $951.0 billion, American Express’ $419.3 billion and Discover’s $118.1 billion. MasterCard’s recent surge is linked to its strong performance in debit cards which grew 41% in the first quarter.
1Q/07 U.S. GROSS DOLLAR VOLUME
VISA: $440.3 billion
MasterCard: $237.0 billion
American Express: $105.4 billion
Discover: $ 30.3 billion
TOTAL: $813.0 billion
Source: CardData (www.carddata.com)
GE Money has signed a deal to be the exclusive issuer of the “Lowe’s Platinum VISA” credit card and to continue providing private label and co-branded credit programs for Lowe’s Companies. The Lowe’s relationship, currently at 28 years, is the longest-running retail partnership for GE Money. Lowe’s Companies, Inc.serves approximately 13 million customers a week at more than 1,400 home improvement stores in 49 states with fiscal year 2006 sales of $46.9 billion. GE Money is a provider of credit services to consumers, retailers and auto dealers in 54 countries around the world with $190 billion in assets.
JWARE Technologies has appointed 3 new executives. Gerard Compain
has been appointed Chairman & CEO and has 20 years experience leading
various international payment companies. Gerard received a degree from
the Sloan School of Management of the Massachusetts Institute of
Technology. Bruno Paoli, Executive Vice President Technology & Solutions,
has 20 years of experience with payment software and most recently worked
at /Carte Bleue/ in charge of the Information System Division. Employed by
JWARE, for the past three years he has been responsible for business
development and product marketing. Philippe Serie has been appointed
Financial and Administrative director and has 15 years’ experience in
management accounting within. Most recently, he was the financial
of Ingenico after he did accounting for NumericÃÂÃÂ¢ble. He began his career
business controller at THALES IS. With this development, JWARE is set to
focus on 3 important marketing fields including SEPA, promoting card offers
in developing countries and applying the use of cell phones in NFC
Freestar Technology has announced that, in comparison with 1Q/06,
1Q/07 revenues have increased by 128% with a total revenue of
$1,125,634. Increases in transaction processing, hardware sales, and
consulting revenue, derived from the Company’s 50% ownership of
Project Life Cycle Partners Limited, have all contributed to the
revenue growth. FreeStar Technology provides solutions to the
financial industry worldwide and works with merchants and acquirers
in over 20 countries.