New reports from the Fed shows U.S. consumer borrowing increased by $5.01 billion for a fourth straight month in January from a $4.09 billion gain in December, although it was mostly in non- revolving loans. With this, economists are projecting a $3.5 billion increase in the measure of credit card debt and non-revolving loans. This…
Fiserv financial services technology solutions has partnered with Visa to provides its customers a more speedy “ZashPay” person-to-person payments service. Allowing users to now send money to and receive money from eligible Visa account holders through their primary financial institution, this agreement will expand the “ZashPay” network to serve over 1 billion Visa account holders. Users can also extend person-to-person payments to eligible international account holders. Initially the service will focus on payment delivery to eligible credit and debit account holders, with plans to expand to prepaid and international account holders in the future. The service will be available to both consumers and small businesses using ZashPay.
Fifth Third Processing Solutions and IP Commerce have made available the “e-Similate” open payments platform and workflow engine. Designed to deliver Fifth Third Processing Solutions’ payment transaction processing and acceptance solutions to the software developer community, the platform combines Fifth Third Processing Solutions’ tier one payment capabilities with a wide range of select third-party services and unique market segment workflows through easily consumable Application Programming Interfaces (APIs). Adding Fifth Third Processing Solutions’ rich reporting and processing functionality, these APIs empower developers to process payments for a variety of use-cases right from their applications running on the e-Similate Platform.
Joe Baker has joined ControlScan PCI compliance solutions as VP, business development, to oversee North American operations. Bringing with him more than 20 years’ experience, he was most recently senior VP, business development at CRE Secure Payments and held several senior management positions at CheckFree Corp. for more than a decade as VP, corporate business development; vice president of strategic partners, software; vice president of strategic alliances, electronic commerce; vice president of client operations, software; and vice president of sales, software at the provider of financial electronic commerce services and products.
John Elkins has been appointed the First Data President, overseeing the Europe, the Middle East and Africa (EMEA), Asia Pacific (APAC) and Latin America (LA) market. He comes from the chief marketing and strategy officer role, where he sat since 2009 and will continue to lead Corporate Strategy. Prior to this, he was sequentially a senior advisor at McKinsey and Company, executive vice president and chief marketing officer for Visa International, and the founder/chairman/CEO of FutureBrand industrial and packaging strategy and design consultancy. John has published several papers on the topic of payments and holds a master’s degree from the University of Oregon and a bachelor’s degree from the University of Exeter, England.
NCR will provide software, services and hardware, including two-sided printing, for multi-store concept in 180 VA Hospitals throughout the US and Puerto Rico with its POS. Scheduled for complete rollout to all locations by the end of this month, the solution includes approximately 1,100 NCR “RealPOS 70XRT” POS terminals; its “GenPOS” software; and NCR project management, software development, testing, integration, deployment, on-site training and technical support. The NCR solutions will be facilitate sales in retail shops, cafeterias, combination locations (retail and food), coffee shops, optical shops, and concessionaires.
American Express and FlyerTalk have kicked off the “Top Flyer” online community. Rewarding travelers for sharing their best travel tips and tricks, the program gives travelers the opportunity to receive 10,000 Membership Rewards bonus points from American Express (or a $50 American Express Gift Card) each month between now and December 31, 2011. When users register with FlyerTalk and share their travel experiences and tips with the Top Flyer community by way of microblog-style posts, photos, news, and videos, they can earn points every time one of their fellow community members ‘likes’ their post or comments. Each month, the 10 participating members with the most points receive 10,000 Membership Rewards bonus points (or a $50 American Express Gift Card) – and Top Flyer bragging rights.
Dwolla cash exchange payment platform through online, mobile or social mediums is reintroducing its “Dwolla Spots,” now available on Apple’s App Store. Allowing users complete a retail transaction with their cell phone via their physical location, the revolutionary application will focus on proximity-based interactions and feature an easy-to-scroll Spots map that will allow users to choose a location, engage in a transaction, and complete a mobile payments purchase. Latest improvements to “Dwolla Spots” provide users access to their linked social networks’ contacts, providing users an intuitive and easy way to send and receive money with anyone in their Facebook or Twitter communities. On the merchant end, registered businesses can select their Spot’s avatars to differentiate their location from others.
Monster Offers ‘Daily Deal’ aggregator and social media company has forged licensing agreements with Zala to bring mobile person-to-person (P2P) money sharing services to the ‘Daily Deal’ industry. Through this alliance, Monster Offers plans to release additional solutions for loyalty, deal tracking, simplified redemption management and merchant dashboards. Key Zala P2P payment platform benefits allow users to send or receive money instantly and effectively with independent programs in the USA and European Union; provide a personalized Zala MasterCard (Europe) or Visa (USA) prepaid card; and supports including iPhone, Android, Blackberry and Nokia devices. Monster Offers deal aggregator compounds daily deals from multiple sites in local communities across the U.S. and Canada.
Bank of America is set to accept donations to support the American Red Cross Japan Earthquake and Tsunami Relief Fund at its more than 5,800 banking centers across the United States, for which the Bank will waive associated foreign transaction fees for credit card users sending to charitable relief efforts. This is part of Bank of America’s 100 million yen commitment to aid survivors of the earthquake and tsunami. This includes a 50 million yen grant to American Red Cross, which is working with the Japanese Red Cross Society to help meet the immediate needs of individuals and families.
FIS banking and payments technology received industry awards recognizing the excellence of its eBanking, “TouchPoint” channel solutions and ePayment solutions, including the Celent “XCelent Depth of Service Award,” the “IBM Beacon Award,” and at the 2011 Paybefore Awards, respectively. The Celent “XCelent Depth of Service Award” recognizes community banks and credit unions reviewing small business, online banking solutions. The IBM Beacon Award distinguishes the best solutions IBM business partners deliver across the world, for which FIS was named the “Best Industry Solution for Banking” for its “TouchPoint” delivery channel solution. Two solutions powered by FIS prepaid solutions were recognized in the 2011 Paybefore Awards, including the U.S. Bank AccelaPay Mobile Banking Application reloadable prepaid card.
KORE Telematics machine-to-machine (M2M) communications has achieved 99.999 percent availability since upgrading its network in December 2009, thanks mostly to its significant investments in building a dedicated M2M network with a support capacity of more than 10 million connected devices. This will support its nearly 600 M2M application provider partners on two new, fault-tolerant, fully-redundant data centers in Atlanta and Las Vegas with automatic fail-over. Each data center is connected via dedicated MPLS backhaul, powered by Cisco 6500 switches, Cisco 7206 routers and Cisco ASR 1004 routers.