With the total outstanding revolving US consumer credit up a staggering 8.25% in May to an adjusted $857B, it erased all positive momentum seen in 2013, springing to the highest outstanding total of the year. Although quite the change compared to recent monthly figures, May revolving credit outstanding is still not as high as the…
Allied Payment Network online bill payment services and Malauzai Software mobile banking SmartApps announced Picture Pay is now available to any financial institution as a stand-alone mobile bill payment solution, even those that use a different mobile banking provider. Picture Pay can now be implemented by any bank or credit union as a separate mobile application. The stand-alone Picture Pay solution is compatible with any core banking system or mobile platform and no technology integrations are required. The app allows users to complete a payment by take a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution.
Responding to increasing demand for mobile payments, e-security expert Cryptomathic has upgraded its EMV flagship issuing solution, CardInk, to enable customers to issue payment applications to smartphones and other mobile devices. The upgrade sees CardInk supporting MasterCard Mobile PayPass™ and Visa Mobile requirements. The ability to use a mobile device to make a near-field-communication (NFC) payment at the point-of-sale (POS) or to transfer funds remotely is gaining widespread popularity across the globe. The extended functionality of CardInk, Cryptomathic’s EMV data preparation solution, allows users to generate the personalisation data for mobile wallet credentials and to securely issue NFC payment applications to smartphones, using the same systems as when issuing physical payment cards.
PayAnywhere mobile POS was selected by Goodsmiths to power mobile payment capabilities for Goodsmiths’ popular Swipe mobile app. The PayAnywhere API offers an easy way for mobile app developers to add mobile payment capabilities to their new or existing mobile apps. The Goodsmiths Swipe app empowers shop owners to take their online shops to market. Swipe is the only app that syncs shop owners’ handmade shops with their mobile device. With Swipe, shop owners can easily track sales and inventory from their Goodsmiths shop at shows and markets, accept mobile credit and debit card payments on the go, enter deal prices and add new items on the fly, and benefit from advanced business intelligence based on detailed, real-time sales reports. Additional Swipe features include secure encrypted transactions, no transaction fees for the first 30 days and a low 2.69% transaction fee after that for all swiped cards (Visa, MasterCard, Discover, and American Express), no Goodsmiths transaction fees, the ability to enter cash purchases, and 24/7 customer support.
Fime has enhanced its SAVVI test tool to enable Visa terminal integration test results to be automated into a format which, for the first time, can be submitted directly online to Visa. This new functionality, which has been tested and endorsed by Elavon, a leader in payment processes, will speed up the testing process for acquirers as well as eliminate human error when inputting and filing results manually. Secure-chip testing provider, FIME has advanced its terminal integration test tool, SAVVI, to facilitate the direct upload and online submission of automated results generated for the Visa Acquirer Device Validation Toolkit (ADVT). Visa’s online system – the Visa Chip Compliance Reporting Tool (CCRT) – has previously required all test results to be manually inputted and submitted.
BANAMEX launched iAcepta Móvil Banamex, an application developed by Stratus Technologies Mexico / Central America called S-Pay mobile POS. Compatible with handheld devices to make completely secure mobile payments, the immediate benefit is that those providing goods or services can take payment from their clients immediately and securely using credit or debit cards with an incorporated chip. This is the first mPOS solution from BANAMEX that meets EMV certifications and can accept payments from MasterCard or Visa chip cards. To build this solution Stratus worked with its Ecuadorian partner B-Wise (Business Wise), which is a pioneer using this technology in the continent.
Wincor Nixdorf is opening a new representative office in Nigeria. This is intended to support the company in implementing the country-specific requirements of its partners and customers more rapidly and precisely in the form of tailored technology solutions. In addition, a local presence will improve customer service even more in order to support the business expansion with solutions from Wincor Nixdorf. Measured in the number of delivered ATM units, Wincor Nixdorf is already the clear market leader in Nigeria and No. 2 in Africa as a whole. Among its customers are nine of the ten largest Nigerian banks. And the potential is immense: according to the Central Bank of Nigeria (CBN), the country’s dynamically growing financial institutions plan new installations of up to 70,000 ATMs over the next ten years.