In this year-end card industry trend report, R.K. Hammer cites the current card industry Pre-tax ROA, compared to prior periods. Company Founder and Chairman Bob Hammer notes, “It has been a difficult past five years since 2008, when average ROA was calculated at 4.25% pre-tax. Since then changes have occurred, from the dramatic drop to 1.50% ROA in 2009 (the lowest card ROA return in over three decades), then up to 2.10% ROA in 2010, to 3.00% in 2011, 3.30% for 2012, and now 3.50% for 2013.”
Citi this morning launched its redesigned Citi Mobile® app for iPhone® and Android™ devices to provide U.S. banking and credit card customers with new and enhanced mobile account management capabilities. New features, a cleaner, sleeker design, intuitive navigation and alerts on-the-go have been added to make it faster and simpler for customers to check balances, transfer money and make deposits and payments. Over time, the new application will go live to Citi customers around the world. The U.S. launch includes a limited beta test of Citi Mobile® Snapshot, a new opt-in feature that enables customers to check deposit and credit card balances and recent transactions without having to log into their accounts.
Ingo Money announced the addition of Lisa McFarland as executive vice president and chief marketing officer. In this role, she will lead product strategy and marketing for the company’s Ingo Money Network and Ingo Enterprise Solutions business lines. McFarland brings nearly two decades of expertise in product development, marketing and strategic sales support for B2B and B2C payment card programs. Most recently at Visa, McFarland served as head of Consumer Prepaid Products, where she conceived and executed the company’s product, channel and network development strategies for its consumer prepaid group.
IHS announced Eric J. Boyer joined the company as Vice President of Investor Relations. Boyer comes to IHS from Wells Fargo Securities in Baltimore, MD, where he most recently served as vice president and senior equity analyst within their Equity Research Division responsible for the information and business services sector, which includes IHS. His decade-plus experience has also involved work within the Equity Research Division of Deutsche Bank and as a management consultant with PricewaterhouseCoopers.
BPC Banking Technologies today announced the launch of a new, innovative solution designed to improve the profitability of ATM networks in the U.S. marketplace. With its new cash management and forecasting solution, deployed as part of the Company’s SmartATM offering, operators can dramatically reduce ATM network costs. SmartATM provides all the capabilities needed to monitor, automate and manage ATM networks of all sizes, including ATM driving, marketing tools, EMV migration and complete support for a sophisticated set of products and services. With SmartATM, clients have achieved savings of $2,000 per ATM annually which translates into $2 million in savings each year for an ATM network of 1,000 machines.
UL is pleased to announce that the Collis Brand Test Tool is confirmed by Visa to simulate the newest test cards included in the Contactless Device Evaluation Toolkit (CDET). The newest Visa CDET test cards (version 2.1) are now simulated by the Collis Brand Test Tool (version 4.6.2). Also the associated test cases are included…
Based on Visa Global Chip Card Personalization Validation Requirements (GCCPVR), Galitt has updated VisuCard® GPVT, its Global Card Personalization Validation Tool, to reflect these evolutions. The new version of Galitt tool has been presented to Visa, which just confirmed that Galitt’s VisuCard® is the first to allow card and mobile personalization validation according to GCCPVR version 2.1.1.
Interac Association, which operates the Interac network, Canada’s largest debit payment network, had a banner year in 2013 processing more than 4.5 billion transactions. Last year also saw continued strong growth of Interac Flash, a secure contactless enhancement of Interac Debit allowing Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash. Interac Association also reported that skimming fraud on its debit card transactions dropped to its lowest level in fourteen years. The Interac network enables Canadians to access their money through Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada.
FreedomPay announced the addition of payments industry veteran Brian Voigt to its executive team as Senior Vice President of Strategic Partnerships. Bringing nearly 25 years of payments industry experience, Voigt has proven success in building relationships and product innovation that bring key partners and customers to the table. He will be responsible for engaging, recruiting and establishing product-complementary and revenue-generating relationships with global partners engaged in the commerce ecosystem. Voigt joins FreedomPay after serving 18 years in strategic executive roles at Bank of America Merchant Services (BAMS), with a focus on defining mobile Point of Sale (“POS”) and mobile commerce strategies. He has also held executive positions with First Data and Chase Paymentech.
ACI Worldwide announced Genesis Financial Solutions implemented its Bill Payment Solution electronic bill payment system for customer loan payments. Genesis Financial Solutions, a leading U.S. consumer finance company, was using multiple legacy systems across different lines of business and funding sources. As its business grew, the complexity of managing multiple systems increased. The company needed a more efficient and integrated way to manage its bill payment processing across multiple payment channels. Genesis Financial Solutions selected ACI’s Bill Payment Engine to power its mobile, web, IVR (interactive voice response), call center and eLockbox (consolidated remittances) payment options.
Monitise plc announces the acquisition of Pozitron Yazilim A.S., a privately-owned mobile technology company based in Turkey, delivering mobile banking, payments and commerce solutions to businesses in its home market, the Middle East and internationally. Istanbul-based Pozitron, a leading business in Turkey’s Mobile Money space, powers next generation Mobile Money solutions for more than 30 leading enterprises acrossbanking, telecoms, retail and pharmaceuticals, including Turkish Airlines, eBay, ING,TEB, which is part of BNP Paribas,GlaxoSmithKline and Hepsiburada.com, Turkey’s equivalent to Amazon.
OTI cashless payment solutions announced its PetroSmart, its wholly owned subsidiary and a global Value Added Reseller (VAR) of petroleum equipment, has introduced an innovative new smart vehicle ‘Moon Tag’ that expands the use of its ‘EasyFuel Plus’ system to the consumer market. OTI’s petroleum payment solutions have already been deployed in 43 countries, more than 1,600 gas stations and over 100,000 commercial vehicles. EasyFuel Plus provides Automated Vehicle Identification (AVI) services with its contactless smart read-write tag mounted around the fuel inlet of the vehicle. When a fuel nozzle fitted with the OTI contactless reader is inserted into the vehicle’s fuel inlet, contactless communication is established automatically. Once the vehicle’s payment card details are verified, fuel can be dispensed. The ‘EasyFuel Plus’ system served commercial fleet owners by automating the fuel payment process, saving time and preventing fraud. This next evolution of the system expands into the private sector so consumers can settle payment automatically without swiping their credit card or paying in a convenience store. Additionally, loyalty points can be awarded automatically per each refueling. The Moon tag also incorporates a mechanism to tune the reading range between the RF nozzle unit (RFN) and the tag to ensure that fuel can be dispensed only to the specific vehicle’s fuel tank and to avoid any option for a fraudulent ‘side fueling.’