Wright Express value-based business payment processing and information management solutions posted its 3Q/11 revenue up 52% to $151.9 million from the year ago period of $100.2 million. Wright Express uses fuel-price derivative instruments to mitigate financial risks associated with the variability in fuel prices in North America. For the third quarter of 2011, the Company’s…
Ink from Chase from Chase Card Services launched its “Zip” online invoicing and cash management solution powered by PaySimple and designed for small businesses owners who want to simplify their invoicing and accelerate their receivables. Small businesses touch their invoicing solution approximately 20 times per month, according to PaySimple. Ink is continually looking for ways to help small businesses, and with Zip, that process will now be easier. Customers can purchase an upgrade to “Zip Pro” to add a suite of automated and online payment processing options for $35 per month. Zip is provided to Ink customers through an agreement with PaySimple, a third party service provider not affiliated with Chase. The web application allows Ink customers to access the invoicing system anytime online and all transaction data is saved through the cloud.
USA Technologies wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retail industries reported its fiscal 1Q/12 (3Q/11) revenue up 51% to $6.7 million, compared to the year ago period of $4.4 million. For the quarter, USA Technologies Increased the number of customers on its ePort Connect Service 85%; Increased the number and dollar…
TNS posted total 3Q/11 revenue up 9.3% to $142.7 million from the year ago period of $130.6 million. In this period, TNS acquired Cequint while the Payments Division disposed of its Canadian ATM processing assets. Revenues and costs associated with this business are presented for all periods as Discontinued Operations in the attached Condensed Consolidated…
Alexandre Gonthier has been named CEO with eWise online and mobile payments solution, along with Phillip Riese having been appointed chairman of the board and Eric Archambeau as director. Alex Gonthier was a founder and executive of several successful companies in the online and mobile payment sector. Phillip Riese brings over 30 years of financial services industry expertise to the board and corporate leadership. He spent 18 years at American Express in a variety of leadership positions, and retired in 1998 as President of the Consumer Card Services Group. Archambeau served as a General Partner with Wellington Partners since early 2005, with a focus on Digital Media, Software, Cleantech and Electronics. The eWise platform powers the Secure Vault Payments network in the U.S. in an exclusive partnership with NACHA. Secure Vault Payments has grown dramatically since its commercial introduction in late 2010, with participating banks representing over 20 million consumers in the U.S.
Bank of America Merrill Lynch for its global treasury management and online banking channel added its “CashPro Online” for commercial and corporate clients to perform routine transactions and make informed business decisions. This includes “CashPro Payments” global payments hub; “CashPro InformationReporting,” helping clients actively analyze and research their financial transactions and position; and “CashPro Mobile.” The “CashPro” spectrum lets clients initiate wire transfers, automated clearinghouse transactions and internal transfers, through a single application.
WAUSAU Financial Systems processing solutions provider and Clear2Pay payments modernization at the Association of Financial Professionals (AFP) Annual Conference announced their partnership to provide end-to-end receivables and payables technology for financial institutions and their business customers with the launch of an Integrated Payments and Receivables Hub. The partnership pairs Clear2Pay’s Open Payment Framework (OPF) and bank payments hub with WAUSAU’s integrated receivables hub, Receivable360™, to help financial institutions offer businesses the capability to manage their cash flow by streamlining current processes while providing a comprehensive view of all incoming and outgoing payments.
Wells Fargo launched its “CEO Mobile Deposit” service for commercial and corporate banking customers. Accessible by downloading the “CEO Mobile iPhone” App at the iTunes store, the new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime. Once check or money order images have been captured, they are available immediately through the customer’s reporting and image search tools on the Commercial Electronic Office (CEO) portal.
Merchant Warehouse secure payment processing and merchant account services now supports the Electronic Transactions Association’s Certified Payment Professionals (CPP) certification program. Measuring professional performance in the payments industry and establishes a higher level of excellence among sales professionals. The program signifies that an individual has demonstrated the elevated level of knowledge and skill competency demanded in today’s complex electronic payments environment. The program rewards sales professionals for their knowledge of the industry, allowing them a competitive advantage over others within the industry that do not hold CPP certification, reflects relevant expertise in an ever-changing market, improves customer satisfaction, demonstrates knowledge of industry and government regulations, enhances credibility and demonstrates a higher level of commitment to the field of practice.
Buffalo-NY based Systems Technology acquired PJM Business Systems, which specializes in POS solutions and inventory control systems for its clients located primarily in the northeast. All PJM Business Systems clients will benefit from STG’s North American help desk and custom software development capabilities. Peter Masse, principal, will bring his 30 years of retail experience to the STG team. STG is partnered with IBM and Microsoft to deliver POS solutions for restaurants & bars, retail stores, liquor stores & boards, hotels, casinos, courts, school systems, state parks, gift shops and cafeterias.
VantageScore Solutions and credit scoring model, announced the availability of a three-part white paper series that addresses and clarifies a number of issues regarding how credit scores are used by lenders. Available on VantageScore Solution’s refreshed website now addresses what a three-digit credit score actually means; How lenders use credit scores; and how to compare different credit score model ranges. The VantageScore credit scoring model is used by numerous lenders, making billions of decisions annually, including four of the top five financial institutions, the top five credit card issuers, two of the top five auto lenders, and one of the country’s largest mortgage lenders.
Citi launched its Citi Straight-Through Reconciliation (STR) product which simplifies and automates the way payments transactions are reconciled and exceptions are managed. This service was developed in partnership with clients that leverage CitiConnect to access Global Transaction Service’s payments across 96 countries. Combining a range of channels and instruments with enriched transaction data, “Citi STR” delivers standardized statement reporting which can significantly improve automated reconciliation, and speed up cash applications, allowing customers to receive globally consistent itemized and enhanced statements to support their straight-through reconciliation needs, as well as exception reporting to aid in investigations.