Heidi Goff has been promoted Senior VP, Global Strategic Accounts, with Hypercom to oversee global strategic account relationships. This is in addition to David S. Cronin being appointed President and Managing Director, North America to drive sales, service and support activities throughout North America. Cronin joins Hypercom from Borderlinx Europe, SA where he served as Senior Vice President of Business Development. He also held multiple executive positions during his 23 years with American Express, including Head of International New Product Development, Strategy and Governance; Vice President, Asia Marketing and Business Development, and Area General Manager, Thailand, Indonesia, Malaysia and the Philippines; and Country CEO and GM, American Express Hong Kong. Clint Jones has been named to the newly created post of Acting President and Managing Director, Latin America.
American Express announced the five finalists of its “Round One of My Movie Pitch” contest. To bring one unique independent movie idea to life during the 2011 Tribeca Film Festival, the finalists were decided on by viewers whom voted for their favorites and an American Express panel of directors. The finalists will receive a Filmmaker Toolkit, featuring a laptop computer, movie editing software package and portable video camera and will remain in the running for the ultimate grand prize: the winning movie idea made into a short film to debut at the 2011 Tribeca Film Festival. This is a precursor to “Round Two of My Movie Pitch,” during which aspiring filmmakers will have another chance to submit 60-second movie pitch ideas at www.amexfilm.com. With this, film fans are encouraged to visit www.amexfilm.com and rate pitches with a âthumbs upâ or âthumbs down.â
VSoft Corporation process improvement solutions for financial institutions has been named for the fourth consecutive year to the Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. More than 1,900 banks, credit unions and savings institutions trusted the companyâs services to meet their individual needs and help them mature in spite of a down economy. VSoft continues to expand its business in 2010, and has already introduced a new core platform, CoreSoft, launched a Software as a Service (SaaS) delivery model for its full suite of check processing, document and reporting solutions and reached a significant milestone with 4,000 credit union branches leveraging its imaging solutions.
Inc. Magazine has ranked Evolution Benefits (EB) electronic benefit card payment services number 1468 on its fourth annual Inc. 5000 ranking of the nation’s fastest-growing private companies. EB services healthcare and employee benefits accounts for approximately 3.5 million people throughout the country. The company was sold to Genstar Capital LLC in July of 2010. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on www.inc.com/5000.
Mobey Forum mobile financial services has released its white paper on how mobile remote payment technology can effectively be delivered to end-users by leveraging existing systems and establishing an open infrastructure. Appealing to decision makers at financial institutions, “Mobile Remote Payments General Guidelines for Ecosystems” focuses on payments where two parties are able to send and receive or exchange funds using the mobile channel, irrespective of where they are located. Other points touched on include the role of the mobile phone number and how this can be used instead of bank account details; needs of different markets vary considerably and what might be an efficient solution for one market might not be acceptable for another; and establishing and agreeing a roadmap to mass-market interoperability is key to drive adoption.
Business owners are looking at a later retirement with 69% not planning to retire or cut back on work until age 65 or older reflecting a 17% increase since December â07 and a 28% increase over September â05. Meanwhile, those planning to retire before 60 decreased to 21% from 27% and those anticipating retiring before age 60 decreased to 11% from 21% in December â07. This, according to the Wells Fargo/Gallup “Small Business Index,” also shows 62% of business owners surveyed indicated that they made changes to their retirement strategy as a result of the economic downturn; 68% are worried about not being able to build back retirement savings lost during the recent economic downturn; and 63% are confident they will have enough money to live comfortably when they retire, compared to 79% in 2007. Small businesses account for most new hires and for 99.7% of all U.S. employers.
International visitors spent 20% more on their Visa cards in 1H/10 when compared to 1H/09 while U.S. travelers abroad spent 9.3% over the year ago period. This is in stark contrast to the spending by international visitors having declined in 1H/09 12% from $32.9 billion in 2008 to $28.9 billion based on a challenging socio-economic environment. The impact of the Gulf Oil Spill demonstrated May Visa transactions were up over 2009 levels, but tourism sharply declined 42% in June 2010, down 9% from the year ago period. Additional findings show tourism spending in June dropped 8% in Alabama; 35% in Florida; 65% in Louisiana; and 65% in Mississippi. Moreover, Visa transaction volume in the lodging segment decreased 50%; the oil and gas segment was down 42%; 35% of hotel managers disclosed guests canceled future reservations; while 42% said the spill has hurt their ability to book future events.
TOP 1H/10 US CARD SPENDERS
CAN: $7.8 billion
UK: $2.3 billion
JAP: $1.7 billion
MEX: $1.7 billion
BRZ: $1.2 billion
The market for NFC mpayments in the U.S. has an adoption rate of only 1.7%, representing a huge opportunity for early movers offering the same. Adopting NFC mobile payment will open new revenue channels for banks as well as mobile operators as more than 94% of the U.S. population owns a mobile phone, and 60% of these have a card slot in their mobile phone. With the help of NFC technology, banks will be able to tap micro transactions made by cash, representing around 20% of the total transactions in the U.S. This will also help banks to capture the growing GEN Y population as well as the huge underbanked and unbanked population. In 2009, the value of mobile payment transactions in the U.S. was $5.2 billion, constituting 6% of the global value of mobile payment transactions, but is expected to reach $56.7 in 2015, growing at a CAGR of 49.19%.
nCircle security and compliance auditing solutions has updated its Certified PCI Scan Service to be compliant with the latest PCI DSS requirements for vulnerability scanning. The new version of the nCircle Certified PCI Scan Service includes several new features and updates that make it fully compliant with the new requirements. nCircle has worked directly with the PCI Security Standards Council to drive the PCI Data Security Standard for over four years. The nCircle Certified PCI Scan Service is an automated, self-service solution allowing scanning for Internet-facing payment networks with PCI compliance. Based on technology from nCircleâs award-winning vulnerability management product IP360, the Certified PCI Scan Service provides a highly accurate platform to scan merchant networks for PCI compliance.
BankServ and NetDeposit remote deposit capture and electronic payment technologies have inked partnership agreements. With this, BankServ will acquire substantially all of the assets of NetDeposit from Zions Bancorporation, which include the the products and services of NetDeposit and all related customer contracts and agreements. This acquisition will more than double the the BankServ end user client base, creating the largest privately held, bank-independent processor of remote deposit capture transactions in the nation. The offering will serve more than 100,000 business locations and more than 500 financial institutions with market-leading products in Internet payments, Fedwire, SWIFT, mobile credit card payments, image cash letter processing, and all forms of check image capture.
SafetyPay secure payment facilitator and clearinghouse for online shoppers, online merchants and banks has made available its “Banking on Online Banking” white papaer. Focusing on expanding and monetizing online banking channel and innovative payment methods, the white paper looks at the benefits of new innovative payment methods and their ability to serve as an additional revenue generator for banks. The credit card has been the predominant online payment method, however, credit cards were not invented with the Internet in mind. As ecommerce has grown, their inherent deficiencies have become more apparent – increased risk of fraud and high costs for merchants to process.
FNBO Direct of First National Bank of Omaha has teamed with Cardlytics to launch its “My Deals” debit card rewards program, providing money-saving offers across a network of popular merchants. The service is complimentary for FNBO Directâs “Online BillPay” checkless checking account and “Extra Earnings” Visa Credit Card account. Cardlytics powers the system that displays relevant offers to FNBO Direct account holders based on how they use their cards and provides new offers at log in. Customers take advantage of the offer by using their card for the transaction at the merchant POS and FNBO Direct credits the customers account for the redemption of each offer at the end of the month. FNBO Direct Internet bank offers consumers online banking products in now 35 states.