Monmouth College has partnered with XIPWIRE mpayment service to provide students, parents and alumni with the ability to donate to the college via text message from a mobile phone. The convenient text-to-pledge service will be unveiled during the Fighting Scotsâ first home game of the football season, marking the official start of the collegeâs first-ever mobile giving campaign. XIPWIRE enables its users to securely send and receive money using a simple text message. According to the latest report from the Pew Research Center, their 2010 Mobile Access Survey confirms that 72 percent of all mobile phone users are texting â an 8 percent increase in just one year. Furthermore, 11 percent have pledged a donation via text message, indicating that mobile giving is quickly becoming a donation method of choice. For these reasons, Monmouth College immediately saw the impact XIPWIRE could make on the collegeâs annual fundraising efforts.
WAUSAU Financial Systems processing solutions has partnered with Burroughs Payment Systems and S1 Corporation payments and financial services software solutions to deploy “ImageTeller” document imaging. Along with the S1 “Branch Teller” application, WAUSAU will provide document capture and advanced workflow capabilities to First Niagara Bank. The
“ImageTeller” electronically captures transactions at the moment they are presented and allows for instant tracking. The solution drives return on investment for First Niagara by improving transaction workflow and reducing overall operating costs with fewer teller data entry, back-office processes and courier runs. S1 will coordinate the delivery of image integrated teller functionality, Burroughs will provide SmartSource Professional scanners for teller stations, and WAUSAU will handle image processing through “ImageTeller” at 57 First Niagara branch locations within seven months from the contract date.
TD Bank posted 2Q/10 net income of $1.2 billion, compared with the year ago figure of $912 million. Adjusted net income held steady at $1.3 billion, flat year-over-year, while total revenue was $1.2 billion, compared to $1.1 billion last quarter and $1billion the year ago quarter. Additionally, Non-interest expenses totaled $688million, compared to $659million last quarter and $594 the year ago quarter; net income posted $271million, up from the $241million last quarter and the $151million seen in the corresponding period last year; and net income totaled $276million, compared with $241million last quarter and $213million the year prior.
Xbridge Systems has launched its “DataSniff” data discovery tool supporting mainframe systems. Xbridge provides QSAâs and internal auditors with a powerful, yet simple, tool to access mainframe data and scan the data for sensitive information. The “DataSniff” solution has the power to uncover data in mainframe data storage environments that were previously considered âuntouchableâ or wrongly categorized as âexemptâ from audit. The requirement to include all cardholder data locations means that mainframe data must be included in future PCI DSS assessments.
VeriFone has acquired the assets of WAY Systems mobile POS solutions and gateway services for an upfront payment of $6 million dollars and an earn-out payable in one year of up to an additional $3 million dollars should certain performance targets be met. Providing POS solutions and gateway services for mobile merchants WAY has built up a customer base of more than 25,000 mobile merchants over the past 5 years. VeriFone will immediately take over support of these merchants within its expanding PAYware Connect Gateway infrastructure. Additionally, VeriFone will offer continuous non-stop support for all existing WAY mobile systems, bolstered by VeriFoneâs extensive mobile portfolio, including PAYware Mobile and VX Evolution secure payment systems.
Fifth Third Processing Solutions has introduced its “PCI Assist” to Level 4 merchants- those that conduct fewer than 20,000 e-commerce transactions and/or fewer than 1 million single card transactions per year- looking for assistance as they seek to validate compliance with the PCI DSS. PCI Assist provides merchants with access to Trustwave “TrustKeeper” PCI DSS compliance web portal that can help smaller-size merchants facilitate PCI DSS compliance validation in an easy and efficient manner. Using its dynamic PCI Wizard in conjunction with TrustKeeper Agent, merchants answer a personalized questionnaire that simplifies the complex terminology of PCI DSS. TrustKeeper also helps merchants complete the PCI Self-Assessment Questionnaire, schedule required vulnerability scans and receive their PCI DSS compliance certificate.
First Nations Financial Services (“FNFS”) has deployed the Consorteum Holdings MasterCard benefits card pilot program. FNFS funded the expenses of the pilot, which was launched with the Madawaska Maliseet First Nation Community, in Edmundston, New Brunswick, Canada. The pilot is targeted at the community’s administration group and will provide valuable data for expansion of the program. Subject to the success of the pilot and to CSRH’s receipt of additional funding, the Company will launch a multi-location pilot rollout in the next 2-3 months. This initial deployment is the first of a suite of POS services, banking and credit.
Heartland Payment Systems has reached a settlement agreement with Discover Financial Services related to the 2008 criminal intrusion of Heartlandâs payment system environment. Under the agreement, Heartland will pay Discover $5 million, resolving all issues related to the 2008 intrusion. Heartland Payment Systems is the fifth largest payments processor in the United States, delivering credit/debit/prepaid card processing, gift marketing, payroll, check management and related business solutions to more than 250,000 business locations nationwide.
Wright Express payment processing and information management services to the U.S. commercial and government fleet industry has signed a 5 year agreement to provide private label fleet card services for ConocoPhillips. With this, Wright Express will issue fleet cards and provide related services to all three brands affiliated with ConocoPhillipsâ motor fuels; Conoco, Phillips 66 and 76. Wright Express and ConocoPhillips will closely collaborate in building a comprehensive sales and marketing program for direct sales as well as to support the local efforts of independent marketers and dealers who represent these brands through over 7500 sites.
Monthly Payment Rate performance for the month of July continued to improve by 9 bps. This is the lowest in over 2 years. The July MPR improvement, compared to the year ago figure of 17.12%, is consistent with seasonal patterns and driven by seasonal factors as well as fundamental changes in cardholder payment trends. The slight rise is due to a higher number of collections days during the July collection period. Compared to the June figure of 14.22%, MPR was up 1.36% month over month. Historically, the MPR sees a slight uptick in the summer months, 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
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%
Jul 10: 12.86%
Source: CardData (www.carddata.com)
Mitek Systems advanced-image analytics and mobile-document-capture applications for smartphones has entered into an OEM agreement with Fiserv financial services technology. With this, Fiserv will leverage Mitek’s Mobile Deposit technology in its Mobile Source Capture solution to allow consumers and businesses to deposit checks via their camera-equipped smartphones. The agreement marks the latest in a series of distribution partnerships Mitek has won with all of the leading application services and technology solutions providers to the financial services industry.
TD Bank posted 2Q/10 net income of $1.2 billion, compared with the year
ago figure of $912 million. Adjusted net income held steady at $1.3
billion, flat year-over-year, while total revenue was $1.2 billion,
compared to $1.1 billion last quarter and $1billion the year ago
quarter. Additionally, Non-interest expenses totaled $688million,
compared to $659million last quarter and $594 the year ago quarter; net
income posted $271million, up from the $241million last quarter and the
$151million seen in the corresponding period last year; and net income
totaled $276million, compared with $241million last quarter and
$213million the year prior.