Delinquencies and chargeoffs remained low in January, falling from the December figure 31 basis points of 5.64% to 5.33% to the lowest point in nearly four years. This statistic is well below the 6% mark, where it has for the last four months, and when compared to the performance 18 months ago when the figure…
MasterCard kicked off its “MasterCard Mobile Money Partnership Program” global initiative to help more than 2.5 billion financially-underserved consumers worldwide gain access to formal financial services through their mobile phones. In partnership with Comviva, Sybase 365 and Utiba, this will let consumers purchase goods and services via their mobile phones at millions of brick and mortar and online merchants worldwide, as well as transfer funds and pay bills. This is designed to target the 70% of the global population with a cell phone, only half of which have a bank account. The “MasterCard Mobile Money Partnership Program” offers prepaid companion cards that account holders can use at merchants that accept MasterCard cards; virtual card accounts that can be used for eCommerce payments with a user’s mobile money account; and person-to-person payments between subscribers of two different mobile money services.
MoneyPass network of surcharge-free ATMs added “PIN POS” capabilities to its list of offering for financial institution clients. Already offering access to a broader network of 22,000 nationwide surcharge-free ATMs, MoneyPass now provides cards that have a “PIN POS” network affiliation. Financial institutions that use Elan Financial Services for their debit processing, can now choose to participate in MoneyPass “PIN POS” service, MoneyPass surcharge-free ATM service or both. MoneyPass “PIN POS” offers financial institutions a low cost, low-commitment stream of revenue.
Diane Merrigan has been appointed VP, sales with 3Delta Systems online business-to-business (B2B) payment card processing. She will focus on growing sales among mid-size and enterprise-level merchants for 3DSI’s products and services, including the “Payment WorkSuite” payment processing platform. She will also help enhance 3DSI’s channel partner services for B2B customers and broaden sales among acquirers and Independent Sales Organizations (ISOs). Bringing with her 20 years’ B2B sales experience in the payments industry was most recently with Heartland Payment Systems for 13 years as director of national accounts. Here she also served as director of B2B market, was a B2B market specialist as well as a relationship manager.
American Express improved upon its “Social Media Show + Tell” series for small businesses with tutorial videos explaining how small businesses can put the power of popular social media platform foursquare to work for them. Accessed through American Express’ Business Knowledge Share LinkedIn user group for small-business professionals, videos feature Eric Friedman, Director of Business Development at foursquare, explaining why small businesses should consider using the platform, and giving a step-by-step primer on how to take advantage of its tools. This is with the intention of demystifying social media platforms for small businesses while “Social Media Show + Tell” on Business Knowledge Share is open to all small-business professionals regardless of their affiliation with American Express.
WorldPay Payment Service Provider (PSP) has selected BOKU as its global mobile payments partner, integrating BOKU’s payments platform into its payment network. This lets WorldPay customers make a purchase and pay directly via their mobile operator bill and demonstrates mobile payments are becoming a mainstream payment vehicle that allows merchants to acquire new customers. Moreover, WorldPay merchants will now be able to instantly offer a secure, convenient and fast mobile payment experience, as well as enabling payments for mobile users without a credit or debit account. BOKU’s mobile payment network is available in 67 countries through more than 260 mobile network operators, offering merchants a potential customer base of up to 4 billion consumers.
Heartland Financial USA has implemented the Fiserv “LoanServ” online, real-time loan servicing solution. The “LoanServ” allows Heartland to optimize and automate most of its loan servicing operations and processes while pursuing its lending growth strategy. This development will help Heartland facilitate its increased loan service volume and complexity. The highly automated “LoanServ” platform offers default management and loss mitigation that are designed to streamline the management of assets and maximize loan performance.
Six credit unions recently signed new contracts for single-sourced, comprehensive processing services with Vantiv integrated payment processors. Vantiv will provide ATM and debit card transaction processing, ATM driving, card production and network gateway access, in addition to strategic consultation and guidance to credit unions helping them to acquire and retain members, build loyalty and increase revenue while creating payment efficiencies.
Memento Inc., a leader in Enterprise Fraud Management solutions, announced an agreement with Orbograph Ltd. to deliver enhanced check fraud detection solutions to the financial services industry. Orbograph Sereno™ software will provide a broad set of image analysis capabilities to the Memento Check Fraud Solution. Despite a reduction of 4-7% in the number of checks…
eMerchantPay, the trusted global leader in international online payment processing gateway services for eCommerce, recurring bill payment, virtual terminals and more, announced today the opening of a United States office in Boca Raton, Florida through its USA subsidiary eMerchantPay Corporation. The company also announced the appointment of payment industry veterans Garima Shah as Head of…
NCR Corp. announced that the company’s point-of-sale terminals will now be the preferred checkout technology at Springdale, Ark.-based Harp’s Food Stores, an employee-owned company, which operates 66-plus grocery stores in Arkansas, Missouri and Oklahoma. NCR’s RealPOS 60 checkout terminals will be used in all new Harp’s stores and will replace checkout equipment at 10 existing…
CONIX Systems has enabled financial institutions and payment processors to aggregate payment anomalies in a shared SaaS database. CONIX, a leading international provider of payment processing solutions to the financial services industry, has developed an integrated duplicate detection and fraud detection system that can be implemented as an in-house solution. Since launching its automated enterprise duplicate detection solution Dupe Detective(R) in 2005, CONIX has concentrated on helping financial institutions and payment processors adapt to the shift toward electronic payment types. The CONIX Fraud Detective processes payments from all payment sources and channels, including image exchange, ACH, RDC, and Mobile Capture.