Global Cash Access posted its 3Q/11 revenue of $136.9 million, down 10% from the year ago period of $152.1 million, thanks to a loss of its largest customer in late 2010 which accounted for approximately $21.3 million in revenue during the third quarter of 2010. The Company incurred approximately $0.8 million of non-recurring expenses related…
First Data electronic commerce and payment processing released its “SpendTrend” analysis for October. Same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations in October shows dollar volume growth held steady at 9.4% versus September’s growth of 9.5%. Transaction growth improved to 7.5% in October from 7.1% in…
Cheryl Nash has been named President of its Investment Services division with Fiserv. A 28 year veteran of the Company, Nash brings to the role a record of industry leadership, technology expertise and commitment to serving clients to this role. Nash played significant roles in the acquisitions of Upstream Technologies and AdviceAmerica, providing Fiserv clients with an integrated model management environment and financial advice and planning technology, respectively. She has been the driving force behind the Fiserv convergence strategy for Investment Services, which comprises many initiatives that are on track to deliver an integrated wealth management solution; a single managed-account platform; and an aggregated view of client assets and liabilities for a more robust Unified Managed Household (UMH) experience for Fiserv clients.
People’s United Bank has selected FIS’ Mobile Financial Services platform, which will deploy the solution in support of a new mobile banking channel it plans to add to its current delivery channels for retail customers. FIS Mobile Financial Services provides financial institutions industry-leading functionality with exceptional integration capabilities. As a consumer-focused solution, FIS’ mobile solution allows bank customers and credit union members to perform transactions quickly and easily from their mobile devices via text, mobile Web and downloadable applications for smartphones.
vente-privee USA launched their exclusive online retail site, www.venteprivee.com, a joint venture between American Express and vente-privee.com online private sales. The site features member-only sales events with premium European and American brands at up to 70 percent off. Each day’s sale will begin at 10am EST and last 72 hours. vente-privee USA is expected to begin its first sale today featuring PAUL & JOE SISTER, a French brand that exemplifies contemporary Parisian chic. vente-privee USA offers members a range of fashion and lifestyle brands building on vente-privee.com’s over 1,450 existing partnerships and 14 million members in Europe.
The 3.0 version of the PayPal Android app with P2P NFC capabilities is vailable for download in the Android Marketplace. The updated app allows PayPal users to enter an amount in the Request Money field to begin an exchange with a fellow PayPal member. When users tap their NFC-enabled Android phones together, the recipient is prompted to enter their password, and then the transfer can commence. The PayPal 3.0 app for Android also features a revamped landing screen and address book auto-complete.
Western Union Business Solutions will sponsor a webinar hosted by The Chronicle of Philanthropy focused on effective foreign exchange management strategies for international non-profit organizations. The webinar to be held November 22, 2011 at 2pm ET is titled, “Doing More With Less: Getting the Most Out of Your Limited Funds.” It will focus on How to simplify the processes used to move money across the global financial system – cutting costs and increasing efficiency; Using technology to track, monitor and control the remittance and receipt of funds – to build accountability and improve payment reliability; and tools that can be used to protect future-dated payments against currency volatility so that exchange rate losses are reduced, and cash flows become more predictable.
Trustwave information security and compliance solutions announced its “TrustKeeper” cloud-based security and compliance portal, has been named one of the 2011 Chicago Innovation Awards winners. The Chicago Innovation Awards recognition of innovative products or services hosted more than 400 nominees, up more than 60% over the past two years. The “TrustKeeper” Web portal supports merchants’ compliance efforts. This helps facilitate compliance validation with PCI DSS for merchants, or acquiring banks, Independent Sales Organizations (ISOs) and processors with large merchant populations.
Philadelphia Federal Credit Union (PFCU) partnered Elan Financial Services (Elan), the nation’s oldest and most chosen agent card issuer in the United States, to offer its 104,000 members a full suite of PFCU Visa® credit cards with reward options for consumers and businesses. The card issuing partner is dedicated to serving financial institutions with best in class credit card products and rewards that meet the unique needs of every customer. Elan’s end-to-end solution also includes card servicing and marketing as well as branch support and sales incentives.
Discover is starting its gift-giving early this year as the company recently announced a new program with Amazon.com that offers cardmembers Double (2%) Cashback Bonus on up to $250 in purchases each billing period through the end of 2011 at Amazon.com. Discover cardmembers can also pay with Cashback Bonus directly at check-out when they link their card to their Amazon account. This new option allows cardmembers to use their rewards – in a dollar-for-dollar exchange – to get millions of items, when they want them, without having to leave the Amazon site. This season, new redemption processes allows virtual game lovers will have the opportunity to redeem Cashback Bonus for digital game currency through Electronic Arts and Nexon eCertificates. This new offering allows gamers to play popular online games, including The Sims Social, Pet Society and MapleStory. These games join the 150 other redemption partners Discover currently offers as part of its Cashback Bonus program.
Walmart launched a new app for the iPhone and iPad to give users tools to plan weekly shopping both in-store and online. The new apps offer enhanced, seamless shopping experience across Walmart’s 3,800 U.S. stores and Walmart.com through mobile devices. The two free applications are the first of several mobile products to be rolled out from the recently formed @WalmartLabs group under Walmart’s Global eCommerce unit. Walmart’s new app features touch-optimized shopping, the “Browse My Store” options, letting users Select any local Walmart store to see product availability and detailed information specific to that store and extended inventory for access to merchandise in addition to viewing local store inventory.
FIS banking and payments technology announced that People’s United Bank has selected FIS’ Mobile Financial Services platform. People’s United Bank will deploy the solution in support of a new mobile banking channel it plans to add to its current delivery channels for retail customers. FIS Mobile Financial Services provides financial institutions industry-leading functionality with exceptional integration capabilities. As a consumer-focused solution, FIS’ mobile solution allows bank customers and credit union members to perform transactions quickly and easily from their mobile devices via text, mobile Web and downloadable applications for smartphones.