With the total outstanding revolving US consumer credit up .1% in January to an adjusted $847.5B, it continued growth in February to $848B. Although rather stagnant against recent months, February credit outstanding is way up by and was up 7.75% from on the year ago figure of $798.6B, a super low point on outstanding credit…
Aconite chip and mobile software first commercial deployment of our mobile EMV scripting solution. Maintaining and updating the settings in mobile applications after being provisioned to handsets is a critical part of the end-to-end management of a mobile payment program, and is not something that is typically provided by an application provisioning system or Trusted Service Manager (TSM). Now a major European processor has selected Aconite’s Mobile Application Manager (MoAM) to support their mobile scripting needs, providing a low-cost, fast-track enhancement of their existing authorization systems to support the broad range of EMV scripts needed to manage EMV applications on a mobile NFC handset. Aconite’s Mobile Application Manager will support counter-resets, passcode changes and other scripts required to fully implement EMV in a mobile environment. The EMV Scripting features delivered by Aconite’s Mobile Application Manager are based on Aconite’s award winning Smart EMV Manager product which provides a wide range of capabilities out-of-the-box, and can be rapidly configured to support new functions, applications and script types without requiring complex integration or expensive customization.
Rakuten.com Shopping recently implemented MasterPass digital wallet service. Allowing users to use any payment card or enabled device to discover enhanced shopping experiences, the new service provides Rakuten.com shoppers a convenient and flexible way to pay via the website or on a mobile device. Shoppers can begin to use MasterPass immediately and will see further promotions on the service throughout the year as MasterPass will be increasingly marketed as an alternative and easy-to-use payment solution.
TransCard and FamZoo partnered to develop Unlimited Family Banking. The prepaid card offering is designed for families, with one predictable flat monthly fee for multiple prepaid cards used collaboratively by individual family members to share funds and develop financial responsibility. The cards are linked together and accessed online through FamZoo’s award-winning family finance software designed specifically to help parents teach kids good money habits. A product of TransCard’s innovative new Premier Select Suite of general reloadable prepaid accounts, Unlimited Family Banking allows financial institutions to offer a fresh new way to address the unique needs of parents who are raising teens and younger children. It focuses on teaching how to Earn Diligently; Spend Wisely; Save Patiently; and Give Thoughtfully.
Green Dot banking and payment solutions partnered UniRush to launch the RushCard Live Reloadable Prepaid Visa Card. The prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide is a cost-effective alternative to a traditional bank account. Available only at retail, it offers early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans. Customers also have access to fee-free transactions at more than 22,000 ATMs via the nationwide MoneyPass ATM network, worldwide merchant acceptance of Visa debit, online bill pay, and a mobile app which includes real-time views of account balances and transaction histories.
Allied Payment Network online bill payment services to the financial industry announced its online and mobile bill payment solutions now seamlessly integrate with Computer Service Professionals (CSPI) Aurora Online Banking platform. Providing financial institutions a full-featured eBanking experience, Allied’s bill payment technology will offer CSPI customers a comprehensive bill pay solution within a single platform, eliminating the need for separate systems. Now, financial institutions’ customers have access to a full-featured online banking platform with tightly integrated bill payment capabilities, achieving a richer customer experience. Allied’s payment routing technology also helps institutions control costs and deliver expedited payment services for a small convenience fee, eliminating costly late fees for customers and generating additional fee revenue for the institution.
MoneyGram money transfer and The Neal & Massy Group opened their first stand-alone money transfer center. The new money transfer center will employ a dedicated staff to offer MoneyGram’s money transfer services and Neal & Massy’s Sure Pay bill payment service. Both product offerings will provide consumers with an additional, convenient location to send and receive cash locally and internationally. Neil & Massy will be offering the development of cross-promotions with the company’s grocery stores, offering incentives to customers to visit the money transfer center.