Square 1 Bank banking partner launched its Square 1 Asset Management. A subsidiary of Square 1 Bank, the firm is a cash management solution designed exclusively for corporations and their institutional investors. Focused on adding value through a client-centered process of understanding risk tolerance and investment objectives and providing individualized investment advice, Square 1 Asset Management offers clients customized solutions tailored to meet their unique corporate cash management needs.
Simple Honey has been acquired by OpenCoin. Building the “Ripple” protocol for a new virtual currency and distributed open source payment network, OpenCoin will be composed of the simplehoney consumer engagement team to focus on usability. The simplehoney team has successfully launched targeted vertical applications for the travel and shopping categories. At OpenCoin, they will help build a new open source, distributed payments network and virtual currency called Ripples.
iZettle social payments company offers its customers have everything needed to take credit, debit, and cash transactions wherever they operate their business. iZettle users who need a cash drawer or an alternative to email receipts, the company’s Chip & Signature and new Chip & PIN card readers for iPhones and iPads can now wirelessly connect to Star Micronics’ range of MFi certified desktop and mobile printers. iZettle has also updated its free sales overview tools with easy-to-read graphs, sortable by year, month or week. The new metric boxes display revenue, top selling products, transactions, average payment volume and returning customers.
FIME testing and consultancy services for acquirers integrated the MasterCard Terminal Integration Process (M-TIP) questionnaire to its SAVVI test tool to validate that payment terminals are compliant to the MasterCard PayPass Specification v.3.0.1. The latest requirements from MasterCard support advancements in mobile payments, including features such as personal identification number (PIN) entry via a mobile device to authorise a transaction. All European acquirers must ensure that from 1 July 2013, M-TIP projects for point-of-sale (POS) terminals and automated teller machines (ATMs) comply to the latest MasterCard PayPass Specification v.3.0.1. Furthermore, from 1 January 2014, acquirers can no longer equip new merchants with PayPass v.2 terminals, as every deployment must be based on this latest specification. Ensuring compliance to the new MasterCard PayPass Specification will promote consistent and secure adoption of contactless and mobile payment transactions across Europe.
The Shareholders’ Meetings of SIA and of SiNSYS have approved the transnational merger through incorporation of Belgian subsidiary SiNSYS into SIA, thereby completing the process of integration of the two companies, aimed at further consolidating the Group’s international coverage and achieving greater operational efficiency with consequent economic advantages. The operation, effective from the beginning of 2013, does not entail any modification to the composition of the Board of Directors of SIA and provides for the cancellation without exchange of all the shares representing the entire corporate stock of SiNSYS, since SIA already possessed 100% of the stock following the acquisition from Atos Worldline of 49% in July 2012. The activities of SiNSYS, specializing in the management of payment transactions with international debit and credit cards with over 1 billion operations annually, around 30 million cards and 700,000 merchants in 12 European countries, will therefore be continued by SIA.
AIRTAG Mobile Shopping Solutions partnered KFC UK & Ireland to launch its mobile and web app for ordering and payments called “KFC Fast Track.” KFC is using AIRTAG’s Airshop Solution, which is an all in one package platform that enables proximity retailers to launch self-branded interactive mobile and web apps for advanced ordering and payments. Starting immediately, KFC will be piloting Airshop in ten restaurants across the UK which is a center for international trial and rollout of technology based solutions. The app is available for iPhone users and the web app is soon to be available for all connected devices. It features geolocation to easily locate the nearest KFC, mobile & web ordering and payment capabilities, a mobile check-in feature for in-store order recall and a customer account so users can store ordering history, favorite products and payment details for one click payments.
Visa Europe confirms that Global Payments will be the second card payments processor to support the launch of the V.me by Visa digital wallet service in the UK. Global Payments, the UK’s third largest card payments processor, will use its relationships with retailers across the UK to ensure that the V.me by Visa acceptance network grows rapidly from launch. The V.me by Visa digital wallet service will be available from and promoted by Visa’s members including RBS, NatWest and Nationwide. It’s easy for consumers to pay through the internet browser on a PC, laptop, tablet or smartphone. Consumers will be able to store all their debit, credit and prepaid cards into the wallet and then use them to pay at accepting retailers without entering card details.