The credit card monthly payment rate (MPR) showed signs of decline by 44 bps to 20.37% in February, as did bankruptcy filings having skyrocketed 11%. Although the MPR is 26% higher than the historical average of 16.20%, it shows the second straight month of decline after hitting 14.66% in December and follows a 31 month…
NCR Corporation is the world leader in automated deposit ATM installations outside of Japan and South Korea. This, according to research from London-based Retail Banking Research (RBR), was concluded based on NCR having installed more intelligent deposit ATMs than any other manufacturer in key global regions. NCR has an installed base of intelligent deposit ATMs nearly four times as large as its nearest competitor in Eastern Europe alone. Additionally, its “Scalable Deposit Module” (SDM) technology for NCR “SelfServ” ATMs allows consumers to deposit both cash and checks through a single deposit slot in a single transaction, cutting the deposit portion of transaction time in half. Also, NCR offers in-house end-to-end check payment solution with its “APTRA” ATM Passport, which provides a single, integrated and scalable platform that allows the banks to capture deposits from customers at the ATM.
Aaron Henry has been appointed MoneyGram International senior vice president, associate general counsel, global regulatory and chief privacy officer. Bringing to the role more than 12 years’ experience, he will focus on reinforcing strong relationships with regulators around the world and communicate with lawmakers on matters that impact MoneyGram and money services businesses. He was most recently assistant general counsel providing counsel on money transfer, money order, prepaid and stored value offerings, Internet money transfer, new products and marketing for the Western Union Americas business.
Fiserv has been named “Best Electronic Commerce Provider” by Global Finance magazine for the fourth year running. This decision was based on 12 categories of input from industry analysts, corporate executives and technology experts, including “mobile banking” for the first time. Categories also include volume, market share, and scope of global/regional coverage; examples of cutting edge technology deployment and product innovation on a regional/global level; and examples of regional/global solutions that delivered significant benefits and cost savings for clients wanting to re-engineer their cash management processes. Fiserv expanded its payments footprint by signing 537 electronic bill payment clients and 218 debit clients and processed 3 of 4 online bill payments.
YellowPepper mobile financial services has completed the certification and integration process in the Western Union Mobile Vendor Program. Allowing the Company to support the Western Union “Mobile Money Transfer” service in its platforms, this integration allows its mobile customers to send and receive funds directly from or to their mobile wallets and use those funds to pay for utilities, goods and services. YellowPepper provides a unique value proposition that allows banks, mobile network operators, merchants and consumers to conduct mobile financial transactions. YellowPepper serves consumers in Mexico, Colombia, Peru, Ecuador, Guatemala, Dominican Republic, Bolivia, Haiti and Panama.
First Data Corporation electronic commerce and payment processing introduced mobile vouchers (mVoucher) for merchants looking to extend their brand and commerce services to their ever-more-mobile customers. First Data mVoucher enables merchants to deliver offers to consumers through e-mail or their mobile device. mVouchers store a prepaid value funded by the merchant or consumer product goods company and can be delivered as coupons, loyalty rewards, promotional rewards, contest rewards or general marketing initiatives. The virtual offer can then be used for redemption online or in-store through a mobile device as an SMS (short message service) or 2-D barcode, and ultimately through contactless exchange such as Near Field Communication (NFC). First Data and CardinalCommerce collaborated on the development of a mobile commerce platform to provide an integration-free solution for merchants to deliver mVouchers.
ViVOtech NFC software and systems company has released the 3rd version of its “ViVOnfc” Software Suite Trusted Service Manager (TSM), over-the-air (OTA) provisioning, and digital wallet software for NFC handsets. The “ViVOnfc” Software Suite 3.0 is based on two-server software TSM architecture and includes TSM provisioning software, the “ViVOnfc” Issuer Server, “ViVOnfc Control Server” and “ViVOwallet Library.” ViVOnfc TSM provisioning software creates a secure, OTA channel for mobile network operators (MNO), handset manufacturers, banks, merchants, and their chosen TSM partners, to provision credit, debit, prepaid, loyalty, and transit transportation cards to the secure storage on NFC-enabled mobile phones. The ViVOnfc TSM software also enables delivery of mobile marketing content to consumers such as personalized and location-based coupons, offers, promotions and rewards programs through a SPAM free authenticated mobile network. ViVOnfc software has been widely tested through more than 20 field trials, including the largest to date conducted last year by Citi and Vodafone using more than 3,000 NFC handsets.
MasterCard Worldwide is ranked among the top companies for diversity according to The 2011 DiversityInc Top 50 Companies for Diversity list. Of the 535 companies who participated this year, MasterCard ranked No.31. This is the second time in recent years that MasterCard has made this prestigious list – up 10 spots from its 2009 ranking at No.41. Globally MasterCard has 12 regional employee-resource groups, which play an important role in the promotion of its diversity and inclusion efforts. These company-funded groups are used for recruitment, talent development, on-boarding of new employees and mentoring. In addition, MasterCard recently held its third annual Multicultural Summit. This event is aimed at realizing MasterCard’s diverse perspectives and way to demonstrate its ongoing commitment to maintaining a diverse and inclusive culture. It is also used to identify ways to drive business growth and innovation.
iPayment announced its financial results for the year ended December 31, posting revenues of $699,174,000. This was down from the year ago figure of $717,928,000 thanks in great part to the deconsolidation of a joint venture after the sale of its equity interest in the fourth quarter of 2009. Revenues, net of interchange, declined to $318,597,000 for 2010 compared with $320,398,000 for 2009 while net income was $22,828,000 for 2010 compared to $11,740,000 for 2009. iPayment provides credit and debit card-based payment processing services to approximately 130,000 small merchants across the United States.
ChargeSmart convenience fee-based card acceptance for organizations has introduced its bill presentment and hosted payments portal that provides independent sales organizations (ISOs) and sales agents the ability to offer their billers and qualified merchants electronic bill presentment and payment functionality. With this, ChargeSmart ISOs are now positioned to offer payment acceptance as a more cost effective, managed service to organizations that typically maintain slim operating margins. The ChargeSmart portal allows for flexibility and robust reporting capabilities to billers through an affordable, service fee-based program.
Two TSYS executives have been chosen to participate in the Commercial Payments International Global Cards and Payments Summit, March 23-24. Focusing on the future of global commercial payments, group executive, TSYS Commercial Services, will moderate the “Data, The Next Frontier” panel to focus on how a collaborative view of mining and interpreting business-to-business spend data may hold the key to unlocking a significant shift from checks to electronic forms of payment. Product director, TSYS, will also be featured as one of three panelists in this discussion.
Jim Stoneham has been named Payvment Chief Operating Officer, the eCommerce platform on Facebook. Having recently led the Yahoo! Communities business, Stoneham was also part of the core team that re-defined Yahoo!’s social strategy, driving both the partnerships with Facebook and Twitter and subsequent integration across Yahoo! properties. He spent over 20 years building class-leading consumer products and services at companies including Apple, Kodak, and a number of startups. He was also a founder and partner at Tangibility, a consulting firm that worked with a number of early-stage startups to grow their businesses.