Western Union reported 4Q/13 financial results with flat revenues from the year ago period. Consumer-to-consumer (C2C) revenues declined 1%, flat on a constant currency. Total C2C transactions increased 9% in the fourth quarter, driven primarily by continued traction from the pricing investments which the Company began to implement in the fourth quarter a year ago…
MasterCard and Visa partnered on a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions. The group will initially focus on the adoption of EMV chip technology in the United States and tokenization, point-to-point encryption and broader needs. This new group will include…
Payelp Global is introducing a new revolutionary new payment and business platform called ePrime Global,™ which will dramatically help the speed and security of payment transactions within the Payelp system. The platform has been in beta, but the company is transitioning into the new platform now for all future transactions. Payelp is more than just a payment service provider (currently offering over 300 global payment gateways worldwide to merchants), as the company helps online retailers and businesses earn revenue in other regions around the world through global partners and local regional offices.
Klarna today announces the completion of the SOFORT acquisition as all conditions precedent for the closing have been fulfilled. The two companies will together form Klarna Group and become Europe’s leading alternative online payments provider. Klarna Group’s services are used by over 25 million consumers and 45 000 online retailers across 14 European countries. Klarna Group has processed over 140 million transactions. Klarna Group can offer online merchants the payment alternatives most preferred by European consumers.
Ripple Labs launched this week the Ripple Developer Portal to make it easier and more efficient for third party developers to build on the Ripple protocol. Ripple Labs also announced that Mathijs Koenraadt claimed the first Ripple developer bounty for his Magento extension and its ability to read the Ripple public ledger to create an invoice. Ripple Labs created Ripple, an open-source, distributed payment protocol that powers a new global value web. The Ripple Developer Portal initially features the new REST API, and will expand over time to include a number of tools and resources designed to empower developers building on the Ripple open source code.
Barnes International, a global smart card test tool leader, today reported an increase in activity to US companies involved in the manufacture, personalization and issuance of EMV and non-EMV payment cards in the last 12 months. By selecting Barnes’ test solutions and EMV training, these organizations can assure the quality of their cards; speed up EMV product development and payment scheme certification; and reduce card issuance costs.
Switch Commerce LLC, a leading provider of ATM processing and Payments processing services, is pleased to announce our growth and move to a new company headquarters at 6565 N. MacArthur Boulevard in Irving, Texas. This move to a larger technology based headquarters reflects the company’s commitment to their customers and plans for new products under development in both ATM Processing and Payments Processing.
ICICI Bank launched its combo prepaid card in association with the Uttar Pradesh State Road Transport Corporation (UPSRTC). The card was launched and co-branded by UPSRTC, offering dual benefits of a travel card as well as a shopping card on a single card. This first-of-its-kind pre-paid card offers users the convenience of not having to pay cash for buying tickets for every trip undertaken on a UPSRTC bus or buying paper passes for monthly or quarterly season tickets. In addition to this, customers can use this same card to shop online as well as at stores. This features Ease of travel on UPSRTC buses, wider acceptability at all VISA POS retail shops, malls and websites for cash-less shopping, no requirement of minimum balance on the shopping card, no need to open a bank account to avail shopping card benefits and secured use.