MasterCard has racked up more than $4 trillion in global gross payments card volume during 2013. MasterCard reported net revenue for Q4/2013 was $2.1 billion, a 12% increase versus the same period in 2012. Also, a 14% increase in gross dollar volume (GDV), on a local currency basis, to $1.1 trillion; an increase in cross-border volumes of 18%; and an increase in processed transactions of 13%, to 10.4 billion for Q4.
Square Cash introduced a new feature that enables anyone to request money from an individual or group in seconds. Since its launch last October, customers across the country have been using Square Cash to send millions of dollars to one another each week. The new feature makes it easier than ever to request money – whether you’re a coach collecting dues for little league uniforms or planning a group birthday dinner for a friend, Square Cash is fast and free.
TransFirst has teamed up with the GeeBo app, a secure, cashless mobile shopping solution designed to protect the credit card information of customers. The GeeBo app is a secure, end-to-end payment processing solution that allows convenient, cashless shopping for consumers directly from their smartphone or mobile device. Through the Quick Check feature on the app, a customer logs into their account and enters the merchant’s Quick Check store number. The user-friendly wallet service enables shoppers to pay for goods and services without swiping, faxing or handing over their credit card at the point of sale. The secure GeeBo app securely stores payment credit card information so there is never a need to carry cash or to show a payment card to a participating merchant. Customers can shop knowing that their personal information is protected and secure.
Heartland payment processor hired branding and strategic marketing expert, Michael McMillan, as chief branding officer to lead branding and marketing initiatives to drive business objectives and build brand preference and equity for Heartland products and services. For 20 years, McMillan was chief executive officer of McMillan Associates, a visual communications firm he founded in 1984. More recently, he has toured globally as an inspirational speaker and was president of McMillan Media, where he focused on thought leadership and consulting engagements on the topics of creative thinking, innovation and making positive change. McMillan’s clients have spanned Fortune 100 corporations, small entrepreneurs, sports and music legends, and non-profit organizations and institutions.
Citi ThankYou Rewards members have two new ways to use their Citi ThankYou Points for an account credit to cover a recent purchase, or to make a donation to charity. With ThankYou Select and Credit, available ThankYou Points can be used to cover purchases in certain categories made with an eligible consumer Citi credit card that participates in ThankYou Rewards. ThankYou members can also use their available points to make a donation to a wide variety of charitable organizations on www.thankyou.com/pointworthy. ThankYou members can use their points to receive a statement credit to cover those eligible purchases made during their current credit card billing cycle on Citi Account Online. Donate with Points is a new ThankYou Rewards feature that lets ThankYou members use their available ThankYou Points to make a donation to a wide variety of charitable organizations.
New Media Insight Group, Inc. announced the Company has launched its mCard Cloud Payments solution in the United States. mCard Cloud Payments allow merchants to accept payments from a consumer’s mobile, mCard wallet on any wireless or Internet connected device. Consumers click “send payment” and the merchant clicks “accept” on their iPod Touch, iPhone, Android, iPad, Tablet, Mac, PC or Laptop. mCard Cloud Payments allow retailers to accept payments from anywhere in their store. A restaurant server could accept the payment at the diner’s table or a clothes vendor or salon could accept a payment in any department in their store.
Servebase will now be legally known as PXP. With significant investment over the last three years the organisation is now primed for growth and scalability, which will assist customers in achieving their own business objectives. Therefore, it is logical that in moving into the next phase a new company name was required to reflect the new values, culture, uniqueness and offerings to the payments market. The new name PXP was born out of a simple equation of the core components that are central to what the business is all about: people multiplied by platform, delivers intelligent payment solutions that allow customers to gain strategic advantage for their businesses.
MasterPass enables consumers to make online payments in a comfortable, fast and safe way by removing the need for consumers to enter detailed shipping and card information to complete their online purchases. This simplifies and makes more comfortable the process of completing the purchase process of any product from any connected device and delivers an overall better payment experience for consumers. For financial entities, MasterPass is a service that can be easily customized and commercialized and that allows them offering to their clients the option of making payments with digital wallets.
ElectraCard Services has undertaken the end-to-end management of NMB Bank credit and debit cards. ECS will offer these services through their world class PCI DSS certified data centre.
NMB Bank Limited, one of the leading commercial banks in Nepal, has been licensed as ‘A’ class financial institute by Nepal Rastra Bank in May 2008. Over the past fifteen years the bank has been successfully providing banking and financial services in the Nepalese financial market. NMB Bank joins over 9 other banks in Nepal that are already running on the ECS payment platform. ECS will provide the Bank a comprehensive debit and credit processing solution on an EMV compliant card management system. This will provide the Bank complete cards lifecycle management and support all networks, including VISA®, SCT and NPN.
According to a recent Mastercard poll in 13 European countries, 2 in 3 consumers believe that proposals to cap interchange fees would make it worse for them to use their bank cards and 8 in 10 people do not expect retailers to pass on any cost savings through lower prices. The survey looked at consumer views on European Commission proposals to set caps on interchange fees (retailers contribution to the electronic payments systems) and introduce a series of measures that would impact the use of payment cards. It also showed 65% of consumers fear inflexible caps on interchange fees would leave them worse off in terms of using cards while 82% believe retailers would not pass on any cost savings from a reduction in their contribution to the costs of the electronic payments system.