December unemployment was consistent with dropping November figures, dropping .1% to 8.5%. This is significant given the rate has been stuck at 9% or higher throughout 2011, and was thanks in great part to new hires in retail trade, leisure and hospitality, professional and business services, and health care while the only sector witnessing a…
Fiserv announced it has filed suit against Fidelity National Information Services (“FIS”) and its subsidiary, the Metavante Corporation. The suit alleges FIS infringes on Fiserv’s patents when it provides customers with certain financial and payment solutions. This namely alleges FIS’s “Payment Manager” products as infringement, which process inter-bank account-to-account fund transfers, process payment instructions, and provide electronic biller notifications as an integral part of its electronic bill payment processes.
Chase Card Services added Southwest Airlines as its newest Ultimate Rewards point transfer partner, targeting those who want the flexibility to transfer points for travel to 72 cities in 37 states on more than 3,400 flights a day, coast-to-coast. Southwest offers travelers a wide variety of benefits, from flexible fares to no fees for first or second checked bag (weight and size limitations apply) to in-flight WiFi access. Chase “Sapphire Preferred”, “Ink Plus” and “Ink Bold” cardmembers will now be able to transfer Ultimate Rewards points to Rapid Rewards accounts at full value – meaning one Ultimate Rewards point is equal to one Rapid Rewards Point.
VeriFone Systems is working on an add-on to Apple Inc.’s iPad tablet that slips on to the device and transforms it into a payment terminal that can scan barcodes. The San Jose company is building on its current PayWare Mobile smartphone payment sleeve, and plans to debut the technology this month. The device works in concert with VeriFone’s GlobalBay mobile retail software, which aids employees on the salesroom floor. Eplan says what differentiates the VeriFone iPad payment system from other rival products is its ability to plug directly into the retailer’s point of sale system, which manages inventory and tracks customers.
HyperWallet Systems global payment solutions filed a new provisional patent for its software program. This permits a person to receive funds electronically without having to be a member of the system responsible for transferring the funds, or being a member of the same system as the person sending the funds. The provisional patent filing expands the company’s intellectual property portfolio and highlights hyperWALLET’s commitment to product development, service innovation and growth. hyperWALLET’s latest software product can help financial services companies and multi-nationals send money globally in a low-cost, low hassle manner, and in accordance with anti-money laundering and anti-terrorist financing best practices.
Clearent credit card processor appointed Brad Staudt VP, Direct Sales. With this, he will further accelerate the growth of Clearent’s sales team, which serves mid-sized businesses in select markets across the nation. During his more than 15 years of experience in the credit card processing business, Brad has built highly successful teams of sales representatives, independent agents and ISOs. Brad has served in sales leadership roles for TransFirst, Global Payments, Heartland Payment Systems and First Data Corporation.
According to a report from Juniper Research released recently, growth will come from mobile remittances sent across established migration corridors – such as the US-Mexico and intra-regional transfers across Africa and the Middle East – as migrant workers send money home from foreign countries. Nearly $55 billion in international remittances will be enabled via mobile devices by 2016. For 2011, it is estimated to be under $12 billion. Substantial inter/intra-regional activity from and within Western Europe will see that region account for the largest remittance volumes by the end of the forecast period.
The Interactive Financial eXchange Forum announced that Innovative Computer Professionals has become a member, at the Small Business level. ICP representatives will be active in the Forum’s ATM/POS Working Group. The IFX Forum is an international non-profit industry association whose mission is to develop and promote the adoption of its open, interoperable standard for financial data exchange, IFX, which is available at no charge at http://bms.ifxforum.org/. ICP provides consulting services and solutions to the ATM/POS industry, with specialization in gaming, card encoding/embossing, ATM/POS host systems, and PCI DSS compliance.
EastPay’s Information Interchange 2012 is a conference that provides attendees with the strategies to maximize business efficiencies, improve payment processes, reduce risk, and increase client satisfaction. To be held February 26 – 28 at the Wyndham Orlando Resort in Orlando, this payments industry conference targets payments professionals from financial institutions as well as corporations and government entities. Sponsored by ACH Alert, Digital Transactions, Federal Reserve Financial Services, and NACHA, the Conference will focus on Operations and Technology, Risk and Compliance, and Treasury Management.
The top online credit card processing company review site, RateCreditCardProcessing.com has revealed its selections, based on real user reviews, of the companies offering the best services providing businesses and individuals a way of accepting credit cards. Real user feedback from 2011 has been aggregated to come up with the current ratings in an effort to help consumers choose the best partnership for their needs. The website allows for visitors to view the current merchant account service recommendations, and provides businesses considering a provider to read feedback reviews from previous customers. Additionally, customers are encouraged to rate their experience on items such as value, support, and features.
Card Activation Technologies filed its opening brief of appellant in the United States Court of Appeals for the Federal Circuit. The Company is appealing from a July 2011 adverse ruling by the Federal District Court for the District of Delaware that invalidated its Patent. Card Activation Technologies owns the patent rights to a proprietary payment transaction method used for processing gift cards and other debit purchase transactions and is actively seeking to license its patent to the thousands of current users.
MediStreams Revenue Cycle Management company appointed Dr. Marcia Hardy as National Director of Business Development. MediStreams offers a full suite of Healthcare Revenue Cycle Management Solutions for providers and provider partners of all sizes. This includes payment automation tools to help providers post remits more effectively. Dr. Hardy joins the MediStreams’ team from her previous employment at an electronic healthcare company where she provided leadership, consulting expertise and software solutions to the healthcare industry. She holds a doctorate from the University of California-Los Angeles (UCLA) Graduate School of Education and Information Systems (GEIS).