JPMorgan Chase posted its 2Q/12 net income down from the 2Q/11 figure of $5.4 billion to $5.0 billion. With this, net income was $1.0 billion, a decrease of $80 million, or 7%, compared with the prior year, thanks in part to a lower reduction in the allowance for loan losses compared with the prior year.…
HP announced PULSE has selected its Converged Infrastructure to meet growing consumer debit card use while delivering efficient transaction processing services to clients. The company leveraged HP NonStop technology to eliminate unplanned downtime, enhancing client satisfaction, while reducing processing costs. The solution offers a combination of servers, networking and storage that easily scales and eliminates unplanned downtime. PULSE is deploying ReD’s real-time transaction monitoring and risk management software solution, ReD PRISM®, implemented on HP Integrity NonStop BladeSystem NB54000c and HP Integrity NonStop NS2200 servers for the DebitProtect application. The combined solution will deliver the scalability and performance necessary to protect financial institutions’ cardholder transactions at the ATM and point of sale from the threat of fraud.
Cadence Bank has expanded its relationship with FIS through the deployment of its electronic funds transfer (EFT) processing, ATM driving and fraud management. This is in addition to FIS solutions currently in use at Cadence Bank such as core account processing and Compliance Databank. The EFT solution’s deep integration with the existing FIS core processor, and FIS’ state-of-the-art fraud management functionality, were key factors in Cadence’s selection to expand its relationship with FIS. FIS processes more than 14 million EFT transactions annually. Providing comprehensive solutions, with the availability of either outsourced or in-house delivery models, FIS’ EFT solutions provide complete end-to-end functionality for account opening, card production and transaction processing. ATM driving from FIS provides a reliable ATM system with the most current features and functions, delivering high availability and extensive monitoring capabilities, enabling financial institutions to provide seamless delivery of ATM products and services.
Meracord launched Meracord Payments payment feature for companies to collect debit and credit card payments from customers. Meracord Payments online payment button allows companies to deploy its on their own websites, giving customers an immediate and convenient way to make payments, relieving the service providers of time spent managing the collection of payments and helping increase their bottom line. Meracord Payments integrates seamlessly with Meracord’s robust payment processing platform so that customers can make secure payments directly from their service provider’s website by clicking the Meracord Payments button and walking through a few simple steps.
Representatives from all segments of the prepaid industry are set to meet in Las Vegas to exhibit and discuss opportunities in prepaid products and services, a payment method for millions around the globe, including wireless, calling cards, gift and debit cards, loyalty and mobile payments. The two-day Conference will include speakers from diverse companies involved in prepaid, including: InComm, NetworkIP, American Express, PayPal, Fiserv, Prepaid Resources, Auris, Lunex Telecom, DIGITALK, CHARGE Anywhere, Giftango Corporation, DimpleDough, Daily Deal Media, Retailigence, and others.
Mazuma Credit Union now offers Mazuma Visa credit and debit card photo personalization to members. The new service provides members with the ability to personalize their cards using a photo of their choosing, through Mazuma online banking. Mazuma is currently promoting the service to members with a “Personalize Your Plastic” campaign. Members can easily personalize their card when they log in to Mazuma online banking. From there, they just follow the instructions provided on the site.
Avidbank Corporate Finance, a Division of Avidbank, has provided USA Technologies a $3 million asset-based line of credit. The credit line is part of USA Technologies’ strategy to assist in the accelerated transition of cashless payment systems and services in the unattended small-ticket, retail market through its JumpStart program. USA Technologies wireless non-cash transactions, associated financial/network services and energy management provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.
MasterCard Europe and PrePay Solutions (PPS) are announcing the availability in the autumn of a unique end-to-end prepaid mobile payment platform in Europe. This new service is aimed at any company (telecommunication operators, financial institutions, retailers, others) wanting to distribute a Mobile PayPass prepaid serviceMobile prepaid accounts are of particular appeal to consumers wanting to experience mobile payments for the first time with full control over their finances and spending. PPS’ comprehensive service will be available in across Europe and will address everything from traditional issuance and processing, compliance and supply-chain management to fraud and customer-service support.
Moneris credit and debit card processor announced Canadian consumer spending has increased in the second quarter, up 4.67% compared to the same period last year. June, however, experienced the smallest growth, at 3.72 per cent, which may point to a slowdown in spending. The entertainment category saw the highest increase in overall spending in Q2, at 9.43 per cent, while hotels and restaurants came in close second, with growths of 6.75 and 6.41 per cent, respectively. It was Canadians’ growing appetite for fast food restaurants and acceptance of convenient credit card payment methods that drove the largest increase in spending for the fast food category, with an increase in spend of 10.9 per cent, compared to the same period in 2011. The specialty retail category also experienced strong growth, with stationery (6.62 per cent), florists (6.33 per cent) and pet shops (6.14 per cent) leading the increase in dollars spent. On the other hand, apparel – a traditionally strong spending category for Canadians – experienced more modest growth, with an increase of 2.74 per cent, compared to the same period last year.
YESpay Contactless Payments has successfully equipped 250 locations of the much talked about North Greenwich Arena for accepting contactless payments. With Olympics 2012 being the first-ever contactless games, YESpay shares the limelight as the contactless payment solution provider for the North Greenwich Arena where Artistic Gymnastics, Trampoline, Basketball, and Wheelchair Basketball will be hosted at the London 2012 Summer Olympics. EMV secured Contactless Payment technology allows customers to pay for items by simply waving their card at the POS for items worth GBP20 and under. Hence, customers enjoy shorter queues at the tills with no need to fumble for coins or entering a PIN when they pop out for a quick lunch or a coffee. Visa predicts the number of contactless POS terminals in the UK will rise by 50% to 150,000 in 2012. With Visa’s PayWave; MasterCard’s PayPass and American Express’s Express Pay out in the market, Contactless Payments are certainly on the go.