The ever-predictable American consumer is back at it. After having cut the overall consumer credit card debt by over $200 million during the past four years from the brink of the $1 trillion mark, Americans are pulling out the plastic once again. Why you ask? Because the economy is showing the faintest pulse as workers…
MV-enabled Visa debit cards functioned successfully in at least six countries for members and staff of Bank-Fund Staff FCU, with online transaction processing performed by CO-OP Financial Services. CO-OP has passed EMV certification with Visa, based on its work with Bank-Fund Staff FCU as the test credit union. Bank-Fund Staff FCU tested CO-OP’s Phase I processing solution of online EMV transactions from a contact EMV card. Bank-Fund Staff FCU issued 11 EMV-enabled Visa debit cards to members and staff during the pilot EMV period, which extended from late December to early April. This is the first step in the credit union’s overall EMV strategy.
Fidelity National Information Services completed an amendment to its existing credit agreement. The transaction resulted in the increase of FIS’ revolving loan capacity by $850 million to $2.0 billion and the amendment of certain terms and conditions, including the removal of provisions regarding the granting of collateral by FIS and its subsidiaries. The unsecured credit agreement totals $4.0 billion in the aggregate, including $2.0 billion of term loans and $2.0 billion of revolving loan capacity. The maturity of all obligations under the amended credit agreement remains unchanged at March 30, 2017.
ACI Worldwide made available its “ACI Architect Mobile Banking” for the migration of online banking from the desktop to the mobile device. Offering features to iPhone and Android smartphones previously limited to the desktop including personal financial management tools, integrated bill payment and account-to-account transfers, “ACI Architect Mobile Banking” lets FIs deliver secure mobile browser capabilities, downloadable apps and text banking to their customers. With this, financial institutions can manage and control the desktop, mobile and tablet experience using a common set of administration and configuration tools to efficiently leverage the institution’s resources for digital channel management. It also lets FIs increase brand differentiation and offer a personalized user experience with user-specific messaging.
Barclaycard has introduced a new component to its website that will host accessible and informative videos illustrating how different individuals use specific online mybarclaycard services to make their lives easier. Barclaycard TV will be an additional channel on the brand’s website hosting a variety of straightforward videos demonstrating the benefits of mybarclaycard, an online servicing platform that allows customers to digitally manage their accounts. The inaugural three videos on Barclaycard TV show real life examples of how different people can use mybarclaycard to their advantage according to their specific needs and lifestyles. In one video, a family heading out on holiday discuss how they used the service to manage their spending wisely. They set a balance limit to alert them when they’ve hit a certain amount, and explain how easy and quick it is to recover a forgotten PIN. In another video, a couple moving in together are faced with a long list of items needed to furnish their new home. The third video peeks into the life of a busy cab driver, exploring how he feels greater control and security by being able to access his accounts and pay his bills on the move.
GlobalCollect payment service provider, and Vindicia, enterprise-class subscription billing, strengthened their partnership by integrating their platforms even further. This will allow digital media companies to effectively bill and accept payments from customers using a wide variety of business models and payment methods and across the increasingly borderless world created by the Internet. The joint solution pairs Vindicia’s CashBox – a marketing, CRM and billing platform – with GlobalCollect’s global online payment service, which currently processes more than $14 billion per year in online transactions for more than 500 tier-1 e-commerce companies around the world. GlobalCollect’s payment services platform offers digital merchants the ability to instantly acquire international customers in more than 170 countries and lets them pay with more than 150 different payment methods and 170 currencies.
VeriFone Systems has been awarded a two-year contract to provide managed services for as many as 100,000 POS payment devices operated by ChinaPnR, a leader in China’s electronic payment industry. With this, ChinaPnR is outsourcing the management of increasingly complex payment devices to VeriFone so it can better focus on its core business. VeriFone is providing installation, training, and maintenance services for all existing payment devices and new installations over the course of the agreement. The agreement builds on VeriFone’s previous relationship providing operation and maintenance services for ChinaPnR’s air travel business units in 2012.