Visa’s (VS) Asia Pacific (AP) region Purchase Dollar Volume (PDV) rose year-on-year (Y/Y) by 15.0% on a local currency basis in the first quarter (Q1/14) to US$328 billion. Based on PDV, the VS AP region is the fastest growing region, outside the US. The average purchase ticket in the VS AP region declined 2.8% Y/Y. One-year ago it stood at US$94.67, compared to US$92.19 in Q4/13 and US$91.98 in Q1/14, according to CardData. VS has an estimated 725 million cards-in-force (CIF) currently in the AP region, compared to 682 million in Q1/13.
USA Technologies announced its loyalty and prepaid program, MORE., is now integrated with AirVend’s interactive touchscreen point-of-sale device. The combined solution is designed to provide customers of AirVend added convenience, choice and new revenue opportunities. MORE. lets users of ePort Connect offer their consumers rewards and discount offers for products purchased at their cashless-enabled locations, thus building loyalty, repeat business and a greater understanding of their consumers’ purchasing preferences. MORE. is offered as an extension to USAT’s comprehensive ePort Connect® service, a one-stop cashless payment service that now supports more than 6,650 customers.
London tops the list as the destination of choice for international travelers for the third time in four years, according to the annual MasterCard Global Destination Cities Index. Rounding out the top five cities are Bangkok, Paris, Singapore and Dubai, which are benefiting from a surge in international travel fueled by an expanding middle class, innovations in luxury travel and rising need for business travel. The index also indicates this surge will continue, even with more technology and collaboration tools available to businesses. MasterCard’s Priceless Cities program provides exclusive access to more of life’s passions. At the same time, there are core benefits, insurances and features that help provide greater convenience along the way.
XRomb Inc. announced today that the US Patent Office has issued them a patent that covers the most user-friendly way of loading credit card information into mobile commerce applications including the rapidly expanding market of mobile wallets. The patent for invention number 8,763,896 is a system and method patent for loading a transaction card and processing repayment on a mobile device.
Synchrony Financial announced its strategic investment in LoopPay mobile payments platform. LoopPay recently introduced the LoopPay ChargeCase, which allows consumers to pay with their iPhone 5 or 5s at regular credit card swipe readers, while extending the phone’s battery charge by up to 60%. It is the second product launched by LoopPay in four months, with several more products planned for market entry this year. LoopPay technology enables existing point-of-sale infrastructure to accept contactless payments through mobile devices at the vast majority of retail merchants. Synchrony Financial views LoopPay as an opportunity to close this gap for its retail partners and their customers while offering an enhanced consumer experience and additional security features.
Allied Wallet was awarded as Customized Payment Solutions Provider of the Year in the United States by Acquisition International for the innovative, state-of-the-art payment solution they provide for small to enterprise-level businesses online. Acquisition International identifies and honors the most respected companies in the world, recognizing and rewarding outstanding success, innovation, and ethics across business communities. They accept votes and conduct in-house research to award the most deserving companies. They’ve won several awards including the Merchant Payments Ecosystem Award in Berlin, Germany and several awards for their workplace culture.
Clutch announced a new loyalty solution for Amazon Webstore merchants letting them use the Clutch Customer Success (CS) platform to issue customer loyalty program rewards and enable rewards redemption during checkout. The Clutch CS platform is a suite of modular solutions for loyalty, rewards, consumer analytics, gift, social and promotional engagement, and mobility capabilities that drives customer insight, segmentation, recognition and engagement. The platform increases customer retention as well as the value of existing customers through effective, relevant marketing programs to optimize desired customer response and brand goals. Merchants can work with Clutch to configure its loyalty program on the Clutch CS platform and integrate it with their Amazon Webstore account.
Affirm announced the commercial release of its new Split Pay service that lets online merchants offer the power of installment payments to their consumers at the point of sale. Using Split Pay, online shoppers can make a purchase and pay across multiple months with simple, clear financing fees a fraction of credit card interest rates. With Affirm there is zero risk for the eTailer. Affirm pays its merchants in full at the time of settlement and their customers enjoy payments stretched out in monthly installments. Split Pay is consumer-friendly by providing clear terms and a fixed set of payments.
i2c payment processing is opening a Singapore office. i2c’s solutions are redefining what’s possible in prepaid, debit, credit and emerging commerce by offering a single global processing platform with integrated mobile and loyalty capabilities. Issuers looking to launch travel, virtual, mobile, corporate and government prepaid products in the Asia Pacific region are working with i2c to get to market quickly with differentiated programs. With programs in market in Japan, China, the Philippines and Australia and new clients coming on board across the region, Asia Pacific is a key growth area for i2c. The office also provides i2c with a physical presence from which it will support its strategic alliance with Visa in the region.
IZettle announces that another €5 million have been added to the company’s Series C round of funding. Hasso Plattner Ventures joins in investing in the Series C round of funding, which was led in May by London based growth investor Zouk Capital with participation from Dawn Capital and Intel Capital, and Series A and B investors Greylock Partners, Index Ventures, Northzone, Creandum and the Nordic financial services group SEB. The additional funds bring iZettle’s Series C to €45 million ($61 million), and total investment capital raised since the company was started in 2011 to just over €85 million ($118 million). Investors in previous rounds have also included American Express, MasterCard and Banco Santander.