FIS banking and payments technology posted a 3Q/11 revenue from continuing operations up 4.3% to $1.43 billion, compared to the year ago period of $1.37 billion. Meanwhile adjusted revenue growth was 10.8% and adjusted net earnings from continuing operations totaled $188.8 million compared to $176.7 million in the third quarter of 2010. For the Payment…
U.S. Bank has made available the reloadable, prepaid Visa “Convenient Cash Card.” Cardholders can add funds to the “Convenient Cash Card” at any U.S. Bank branch and is designed to offer convenience, safety and control. The “Convenient Cash Card” helps customers budget their money and avoid overspending because it only lets a cardholder use the funds that are available on the card. Cardholders have access to account management tools; including text alerts, email notifications and online statements. It is offered by U.S. Bank Retail Payment Solutions.
Citi Retail Partner Cards announced an expanded leadership team. With this, Craig Vallorano has been named Executive VP, Business Development and Strategy; Leslie McNamara has been named Executive VP, Partnership Management; Elisabeth “Molly” McCombe has been named Chief Marketing Officer; and Rick Cunningham joins Citi Retail Partner Cards as Executive Vice President, Business Development. The division also announced that Citi Retail Partner Cards will rejoin Citicorp as an autonomous division of North America Consumer Banking. While operating independently, Citi Retail Partner Cards and Citi Cards will continue to share processes that optimize performance and controls.
Chase “Ultimate Rewards” rewards program kicked off its annual holiday promotion designed to deliver great value to cardmembers throughout the holiday season. With this, Chase “Freedom,” Chase “Sapphire” and “Ink from Chase” cardmembers with “Ultimate Rewards” have special access to merchandise auctions, redemption discounts, exclusive experiences and receive bonus points for shopping with select retailers online through ultimaterewards.com. Chase Freedom cardmembers can redeem their cash back rewards for gift cards from many popular retailers including Kohl’s, Banana Republic and Barnes and Noble.
Under the pressure of criticism and response to customer feedback, Bank of America no longer intends to implement a $5 monthly debit usage fee. Concerned with the debit usage fee, customers’ voices sounded a collective “NO!” Subsequently, the Bank will not be moving forward with any additional plans to implement the fee.
Xoom money transfer launched its online international money transfer service through Walmart.com. Customers can now send money online via Walmart.com 24/7 to 30 countries in Latin America, Asia and Europe. Money can be picked up in cash at any of thousands of locations or deposited quickly to bank accounts. The service is available through Walmart.com’s Online Money Center or directly at walmart.xoom.com.
VeriFone Systems has acquired Global Bay Mobile Technologies mobile retail solutions. The acquisition is the latest development in VeriFone’s strategy to bring the power of mobile into the world of retail and payments, extending new smartphone – and tablet-based shopping and payment experiences to retail organizations. Global Bay has worked with retailers across North America, Europe and Asia to increase sales and improve customer satisfaction with mobile applications that leverage existing POS, e-commerce, and traditional store systems. Global Bay’s technology, coupled with VeriFone’s secure mobile payment technology, offers the retailer an unparalleled comprehensive and integrated suite of mobile applications that will transform the in-store retail experience.
Dataworks payment processing announced its “Clearingworks Platform” now offers app development and implementation with a “drop-in” process. The “Clearingworks” open architecture lets developers implement Apps specific to their business needs while maintaining the security and integrity of our core payment processing. Changes in the payment processing world are widely discussed by analysts.
Parks Associates is now showing almost 50% of U.S. smartphone owners find an NFC-enabled mobile wallet application appealing. Already 16% of smartphone owners use PayPal or other types of e-Wallet solutions as their preferred method for mobile payments, and one in four Millennials regularly use their mobile phones to research products or services prior to a purchase. These factors will create a commerce opportunity on smartphones of more than $800 billion U.S. in 2015 and boost business for merchants, retailers, financial institutions, and mobile carriers.
MoneyGram’s money transfer services have long been available online at www.moneygram.com or at MoneyGram agent locations, including financial institutions and retailers, such as Walmart. Now, customers in the U.S. can use MoneyGram to send money conveniently from walmart.moneygram.com. U.S.-based consumers can now conveniently send money from Walmart.com to be picked up exclusively at any Walmart location in the U.S., using either a credit/debit card or an ACH transfer from their bank account, at a comparable value to their in-store experience.
Wright Express Senior VP & Chief Financial Officer is slated to present at Wells Fargo Securities Technology, Media & Telecom Conference at the New York Palace in New York City on November 8 and JP Morgan Ultimate Services Investor Conference at the J.P. Morgan Conference Center in New York City on November 9. The company’s presentations will be webcast live and can be accessed through the “Investor Relations” section of the Company’s website.
The volume of credit card transactions processed by Braintree soared to over $10 million per day, 300 percent of the volume from the same period a year ago, the company announced. Braintree is an online payments provider that powers commerce for many of the fastest-growing and most discerning online businesses in the world. The company is now processing approximately $4 billion on an annualized basis, according to Bill Ready, Braintree’s CEO. The company is adding 100 new merchants a month and is aggressively expanding its footprint in Europe, Australia, Asia Pacific and the Middle East.