Capital One’s (COF) international credit card business profits have been weak over the past year, falling by 1.5% from first quarter 2013 and 1.1% since the fourth quarter of last year. However, the net revenue margin for international cards has increased by 37 basis points since the first quarter of 2013.
Today Target Corp. announced the company has hired a new technology leader to help guide the company’s information technology transformation. Target also provided details on additional security enhancements the company has made following its 2013 data breach, and shared plans to incorporate MasterCard chip-and-PIN technology across its REDcard portfolio.
VeriFone Systems, Inc. and First Data Corporation announced today the launch of the VeriFone edition of the First Data® TransArmor™ solution for U.S. multi-lane and petroleum merchants. The TransArmor, VeriFone edition, is an end-to-end encryption and tokenization solution that is a result of a partnership between VeriFone and First Data to address retailers’ need for enhanced payment security.
ACI Worldwide announced the availability of its EMV lifecycle management solution, ACI UP Token Manager, as a Software as a Service (SaaS) offering for US debit issuers. ACI is the first vendor to offer a SaaS-based EMV lifecycle management solution, which comes on the heels of the US debit industry recently banding together on EMV deployment decisions, particularly for debit issuers. A SaaS-based EMV lifecycle management solution will enable issuers to dynamically modify and configure parameters for customers, enabling differentiation in the marketplace. ACI’s flexible new solution offers rich business functionality, delivering peace of mind to issuers by providing the benefits of an in-house deployment for data preparation. Unlike typical outsourced offerings, this cost-effective solution provides considerable value added services, such as online access to card, chip and application data for customer support as well as the ability to provide card supplier independence.
Viableware, innovators of the RAIL today unveiled an updated version of its RAIL payment device that accommodates for the use of EMV smart card payments. The enhanced RAIL device is engineered to accept any chip-based payment card from the table and securely communicate with the leading restaurant POS systems – including MICROS, NCR Aloha, Squirrel and Dinerware – strengthening customer security and mitigating restaurant liability for credit card fraud.
Discover Financial Services is on InformationWeek Elite 100 — a list of the top business technology innovators in the U.S. Discover made the list by developing a new application that provides a fully comprehensive, customer-centric view and supplies account managers with better data and up-to-the-minute information, allowing them to provide superior customer service. Unique among corporate rankings, the InformationWeek Elite 100 spotlights the power of business technology innovation. The InformationWeek Elite 100 research tracks the technology-based investments, strategies, and results of some of the best-known organizations in the country.
Virtual Piggy, Inc. (OTCQB: VPIG), provider of innovative safe payment technology, Oink, announced the appointment of Trent Walker to Senior Leader in the role VP Business Development – Key Accounts. Trent Walker brings over ten years of payments and finance industry expertise, working with many of the world’s leading corporations, including Google and Facebook. For the past six years, Mr. Walker has held strategic leadership roles within the financial services department at Arvato, the $6 billion per year division of Bertlesmann. Oink is the only payment technology designed to allow retailers and game publishers to reach under 21 consumers in a safe, legal, and effective manner compliant with the FTC and other international regulations. This innovative technology serves as a digital family wallet that is available online or via mobile and allows safe, secure transactions – all within parental controls.
Payment Alliance International ATM and electronic payment processing announced global sponsorship of the ATM Industry Association (ATMIA). ATMIA is an independent, non-profit trade association whose mission is to promote ATM convenience, growth and usage worldwide; protect the ATM industry’s assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. PAI is one of the largest ATM deployers in North America with more than 65,000 locations in the PAI Alliance Network. Uniquely positioned in the payments marketplace, PAI offers custom ATM programs and services for retailers and financial institutions including ATM cash management and branding solutions, as well as a variety of electronic payment options.
i2c, Inc., a provider of payment processing and emerging commerce solutions, announced that it is continuing to experience strong worldwide sales momentum in Fiscal Year (FY) 2014, which ends June 30. i2c is also seeing substantial growth from its existing client base, as both prepaid platform transactions and total accounts supported are up more than 50% from a year ago. The i2c platform’s ability to monetize customer relationships and build loyalty is resonating with organizations in all regions of the globe. The diversity of specific program solutions being implemented is a result of the flexibility inherent in i2c’s next-generation processing platform. Programs implemented or in development include general purpose reloadable (GPR) programs in Japan, a mobile wallet companion card in South Africa, a digital gifting app in the United States, debit card programs in Latin America and various prepaid programs in China, Australasia and the Middle East. A full spectrum of prepaid programs, including GPR, payroll, incentives, gift, travel, loyalty and remittance solutions, have been rolled out by i2c during the fiscal year.
MasterCard announced its participation the Macquarie Extreme Services Conference in New York. Mastercard will also present at the JPMorgan Global Technology, Media & Telecom Conference in Boston. There will be a listen-only live webcast of each discussion and replays will be archived for 7 days on the investor relations section of www.mastercard.com .