Fiserv financial services technology solutions posted 3Q/11 revenue of $1.06 billion, compared with $1.03 billion the year ago period. Meanwhile, adjusted revenue was up 2% to $1.00 billion from the year ago figure of $978 million, driven mostly by the Payments segment growth of 4% from the 2010 period. Net cash provided by operating activities…
MoneyGram International global payment services disclosed 3Q/11 money transfer fees were up 12% while transaction volume was up 13%. This included 16% volume growth from money transfer transactions originated outside of the U.S., U.S.-to-U.S. transaction volume growth of 16% and U.S. outbound transaction volume growth of 9%. With this, total revenue was up 10% to…
The Smart Card Alliance announced its 2011-2012 board and seven-member executive committee following elections at the 10th Annual Smart Card Alliance Government Conference in Washington, DC. With this, the Smart Card Alliance elected executive committee includes in Chair: Willy Dommen, Accenture; Vice Chair: Garfield Smith, Oberthur Technologies; Treasurer: Paul Legacki, Infineon Technologies; Assistant Treasurer: Brian Russell, Giesecke & Devrient; Secretary: Greg Garback, Washington Metropolitan Area Transit Authority; Assistant Secretary: Wendy Humphrey, Bank of America; and Technology Vice Chair: Neville Pattinson, Gemalto.
American Express launched the University of North Florida’s (UNF) “Osprey 1Card” prepaid campus ID Card. All current and new UNF students can obtain an “Osprey 1Card” with American Express prepaid functionality embedded in the card. Letting students use their ID Card for on campus dining meal purchases and off campus at the millions of locations around the world that accept American Express Cards, the Card charges no fees for monthly maintenance, activation, balance inquiries, alerts, or foreign currency conversion. Users can see real-time transaction history and monitor spending; receive email or text alerts about low funds, when a transaction has occurred, or when funds have been loaded on the Card; and disable/enable ATM access.
Discover Financial Services and the National Hockey League (NHL) renewed their multi-year sponsorship agreement. With it, Discover is an Official Partner of the NHL in the U.S. and will become title sponsor of the inaugural NHL on NBC broadcast on Thanksgiving Friday, now titled the 2011 Discover NHL Thanksgiving Showdown. Discover and the NHL will introduce a co-branded float titled “Frozen Fall Fun,” which will make its first-ever appearance in this year’s Macy’s Thanksgiving Day Parade. As part of the partnership, cardmembers will also enjoy opportunities to redeem points for NHL rewards, such as merchandise and tickets.
Fiserv global provider of financial services technology solutions has integrated its “ACCEL/Exchange” payments network with “Prepaid Solutions” from Fiserv. Allowing financial institutions to more effectively deliver prepaid products to their customers, and target new segments, Fiserv recognizes prepaid cards are popular with younger consumers, as well as the unbanked and underbanked. Subsequently, it has integrated its “ACCEL/Exchange” and “Prepaid Solutions” for quick prepaid card program deployment. Program cardholders will benefit from expanded reload capabilities, including in-branch at the financial institution that issued the card, in real-time at participating ACCEL/Exchange ATMs and via Remote Deposit Capture (RDC).
Payment Data Systems integrated electronic payments solutions provider announced October 2011 set another record for the number of transactions processed by the company. October’s ACH (electronic check) processing volumes were the highest in the history of the company. The month’s ACH transaction volumes were up 53% and ACH returned check transactions were up 86% compared to September of 2011.
Verafin compliance, anti-money laundering (AML) and fraud detection software entered a formal partnership with Open Solutions for its converged fraud detection and anti-money laundering (FRAML) solution to customers of Open Solutions’ on-demand and on-premise core banking solutions. Open Solutions chose Verafin in part because of their history of integration with Open Solutions’ core banking systems. The “FRAML” solution utilizes artificial intelligence and behavior pattern-based recognition to detect suspicious activity. Verafin successfully integrates with each of Open Solutions’ core banking systems. Of Verafin’s more than 750 customers, over 120 are using Open Solutions’ core banking systems.
Ceridian payroll and benefits administration services has contracted with Fiserv to expand its premium payment capabilities. With this, Ceridian will soon offer COBRA participants more premium payment options, including the ability to pay with credit and debit cards. Ceridian’s premium management services for COBRA have long enabled customers to pay by check and Automated Clearing House (ACH). The Fiserv agreement will expand those capabilities for the COBRA participant population, letting participants pay by credit and debit card.
The chairman and chief executive officer of Discover is set to present at the Bank of America Merrill Lynch Banking & Financial Services Conference in New York on Nov. 16. Presentation slides and a link to the live audio webcast will be posted on the day of the conference to Discover’s corporate website at www.investorrelations.discoverfinancial.com.
doxo file cabinet and e-payment updated its “doxoPAY” to include automatic payment with limits, allowing users to schedule automatic payments for bills they receive in their doxo accounts, without needing to link out to multiples sites to set up payment credentials for each business. With the new limit feature of auto pay, consumers can set a maximum amount to be automatically paid and can choose to auto pay a bill as long as it does not exceed $100. If the amount due exceeds the limit set, the consumer is instantly alerted so they can review the details of the bill before making that payment.
Insperity Expense Management selected i2c payment processing, loyalty and transaction settlement solutions as the processor for its new network-branded reloadable prepaid card for “Insperity ExpensAble Corporate” customers. The “Insperity ExpensAble” prepaid cards provide one of the most efficient expense management solutions in the market to more than 5,000 companies nationwide. Issued by Insperity in conjunction with its banking partner, the Card will allow companies to better control, track and manage employees’ travel and entertainment expenses.