William Watson has been promoted CEO from CFO with C$ cMoney mobile phone-based payment and money transfer technologies. With this, Watson will oversee the strategic direction of cMoney, work with the board of directors and act as the official corporate spokesperson. A seasoned executive with 20 years of experience providing executive management and leadership to public and private telecommunications and mobile technology companies, Watson will assume his new role immediately. TX-based C$ cMoney allows users to send money and pay for goods and services using a mobile phone and the text messaging system.
First Commons Bank has launched its new website at www.firstcommonsbank.com just after one year of operation. The bank opened for business on July 22, 2009. The website provides access to detailed information on First Commons Bankâs business and personal banking services, savings and lending rates, ATM services, and more. First Commons Bank full-service community bank is dedicated to serving the banking needs of small to mid-sized businesses and individuals in Newton, Wellesley, Waltham, and eastern Massachusetts, including online banking, ATM/debit cards and cash management services.
Mozcom PayEasy Online Payment System has partnered with Dragonpay to offer online payments to its e-commerce merchants via bank payments. As an alternative payment start-up that offers payment options, Dragonpay provides greater security and convenience than traditional methods like credit cards. By utilizing the Philippine bank network and non-traditional outlets like convenience stores, remittance centers and pawnshops, Dragonpay provides a greater reach to the local potential market given that the Philippines has a very low penetration of credit cards. Buyers can make an online purchase, and carry out the payment by going to a physical brick-and-mortar outlet like a bank or a convenience store.
Ed McLaughlin has been appointed chief emerging payments officer, MasterCard Worldwide, effective immediately. He will be responsible for leading the development and commercialization of payment product platforms and solutions. Ed will focus on e-Commerce, Mobile, P2P, PayPass/Transit, inControl, Bill Payment, Chip, and the Mobile Payment Solutions joint venture. Most recently having served as group executive for MasterCardâs Franchise Development group, he joined MasterCard in 2005 as group head, Bill Payment and Healthcare. He also served as group vice president, Product and Strategy at Metavante, which he joined in 2002 through the acquisition of Paytrust, and was executive VP with LogicWorks data modeling.
While credit card fees in general remain unpopular there is growing acceptance from UK consumers that fees are here to stay, with significant opportunities to target customer segments with fees that they perceive as added value. With this, 26% of credit card users paid activity based fees in the last 12 months; 50% of credit card users indicated that they would be willing to pre-pay fees for additional services like insurances, access to special events, and concierge services; and affluent consumers were more than twice as likely as non-affluent consumers to be interested in pre-paying fees. These findings, according to a recent study published by Auriemma Consulting Group (ACG), also showed 12% of credit card users would be extremely interested in pre-paying for a service package where they would pay a single annual charge to avoid paying activity-based fees like foreign exchange and cash advance fees.
Cardtronics USA has entered into a multi-year ATM managed services agreement with Kroger food and drug retailers, expected to be effective by 3Q/10. With this, Cardtronics will provide comprehensive ATM management services in approximately 800 Kroger grocery and convenience store locations, including ATM installation, complete cash management, maintenance, customer service, monitoring, and transaction processing services. Kroger is hoping the newly forged relationship will help make shopping easier for its customers.
While only 32 million people in M-BRIC currently use mobile financial services, this number is projected to increase to 290 million users by 2015. While every second person owns a mobile device in M-BRIC countries, 70% of their population is currently excluded from the banking sector. As such, according to ‘M-Payments in M-BRIC’-the latest research from Arthur D. Little-, there is great potential for new entrants to actively shape the local m-payment market. The findings conclude Mexico is currently the best option for fast market entry, followed by Brazil, Russia, India and China.
Visa has introduced its “Rightcliq” online shopping, focused on
improving retail browsing, checkout on merchant websites, and delivery
tracking. Featuring the “Wishspace” visual wish list to let users
collect, organize and share images of products theyâre considering
purchasing, “Rightcliq” also provides merchant offers from popular
brands, a P2P advice section, and auto-fill payment information at POS.
The auto-fill payment information applies personal, payment and shipping
information from the digital wallet, which can hold any credit, debit or
prepaid card. The downloadable “Rightcliq” plug-in lets users add
products of interest to the “Wishspace” with a click and initiates Zero
Liability for fraudulent transactions through Visa payment accounts.
Discover Bankâs affinity partnership program deposits from AAA members reached $2 billion. Deposits from AAA members doubled in the past year after reaching $1 billion in the first 18 months of the program, which began in January 2008. Total direct-to-consumer deposits at Discover Bank exceeded $17.5 billion in May. Discover Bank offers money market accounts, certificates of deposit and IRA CDs to AAA members through 45 participating clubs across the country. Discover recently signed another affinity partnership with the American Association of Individual Investors, offering its members preferred interest rates through a co-branded program exclusively designed for the organization.
Cubic Transportation Systems has made three executive promotions to Vice President. The promotions include Carl Adrignola, Steve Brunner and Matt Newsome. Adrignola, who had been a contracts director for Cubic since 2008, is now vice president of contracts. He has more than 35 years of experience in both commercial and government contracts administration and management. He graduated from San Diego State University with a bachelor’s degree in business management. Steve Brunner and Matt Newsome, previously regional directors at Cubic, have been promoted to vice president and regional director for their respective regions in North America where Cubic currently does business and is seeking to expand.
Monthly Payment Rate performance for the month of June rebounded after a one month dip, reporting an increase of 26 bps to 14.22% and a 10% improvement year over year. The June MPR improvement, compared to the year ago figure of 16.04%, is consistent with seasonal patterns and driven by seasonal factors as well as fundamental changes in cardholder payment trends. Compared to the May figure of 13.96%, MPR was up .26% month over month. Historically, the MPR sees a slight uptick in June, as has been the case since the start of the current recovery, a trend lost last year with the onset of the recession. For complete details on current and historical MPR data, visit CardData.com (www.carddata.com).
MONTHLY PAYMENT RATE
Jun 09: 16.04%
Jul 09: 17.12%
Aug 09: 16.96%
Sep 09: 16.59%
Oct 09: 17.77%
Nov 09: 17.66%
Dec 09: 17.23%
Jan 10: 17.15%
Feb 10: 15.95%
Mar 10: 18.79%
Apr 10: 14.61%
May 10: 13.96%
Jun 10: 14.22%
Source: CardData (www.carddata.com)
TrustCash Holdings has completed the alpha development and integration of all RIM BlackBerry devices. Now the BlackBerry “Curve,” “Storm” and “Bold” offer users credit card processing and cash depositing for all purchases through the TrustCash m-payment gateway. In 1Q/10 RIM has sold 11.2 million devices and seen an increase in sales of 43% when compared with sales figures a year ago. TrustCash eCommerce technology infrastructure provides merchants with open access, PCI compliant payment processing for online businesses with advancements in payment solutions.