PSCU, the top U.S. credit union service organization is setting up an full geek, all-night, marathon-style innovation competition to solve today’s most pressing financial service issues for credit unions in just 24 hours. Knockout 2014 is an innovative team event that allows credit unions to stay relevant in the marketplace by quickly meeting the needs of today’s consumers.
Swedish e-commerce company Klarna wants to enter the U.S. market next year. Klarna Group has more than 1,100 employees and is active in 15 markets, serving 25 million consumers and working with 45,000 retailers.
Frisco, TX-based Sheplers, a top multi-channel western-wear retailer specializing in cowboy boots has been hacked. The Company says the breach potentially impacts customers who used payment cards at Sheplers’ retail locations between June 11, and September 4. However, Sheplers does not believe the incident affected its online webstore.
While the the initial deployments of cloud POS systems were not very good, there are new hybrid deployments, along with the participation of larger retailers in the discussion, that are making the potential use of the cloud for POS as worthy of the discussion, something most retailers would not even consider even two years ago.
CardWeb’s CardExecs database today spotlights Rob Reeg, president, MasterCard Technologies & Operations (MTO). He oversees the strategic processing platform, global network and quality of technology operations at MasterCard Worldwide. Based at the MTO headquarters in St. Louis, Missouri, Reeg serves as a member of the company’s Executive Committee.
MasterCard is pushing its Simplify Commerce to merchants and developers in Ireland. The product enables any business to quickly and easily accept payments from major brands, online or in person, in a matter of minutes.
The Global NFC POS Terminals market is expected to grow at a Compound Annual Growth Rate (CAGR) of 57.9% between 2013 and 2018. One of the key factors contributing to this market growth is the increasing penetration of NFC-based mobile handsets. Terminals have also been witnessing the increasing penetration of NFC POS terminals in the transportation sector for ticketing transactions.
Small-business customers who have both a credit card and merchant processing relationship with U.S. Bank can “double dip” on rewards. The new rewards program, Encore, offers small-business customers extra rewards when they pair a U.S. Bank Business Edge Rewards Credit Card with a U.S. Bank Payment Solutions merchant account.
Citibank has launched a global initiative to inspire technology developers to reimagine mobile banking and payments and to stimulate digital progress in the industry. Citi Mobile Challenge will provide developers with a suite of tools they can use to build solutions to benefit consumers either through mobile applications or the Internet of Things. Selected participants will present their concepts at demonstration events in Miami, New York and Silicon Valley and finalists will have the chance to take their technologies into production with the support of Citi.
Bank of America has expanded it Preferred Rewards program to Michigan, Illinois, Tennessee, North Carolina, Georgia and Florida. This is part of a four-wave national rollout of the program that began in June and will be completed by the end of September.
Brazil’s UOL BoaCompra is overtaking the online games payment territory in Turkey. As the fourth largest internet usage country in Europe with 70% of total game time spent on PCs, Turkey is dominated by free-to-play models and MMO’s. The company’s latest full-service payments launch into Turkey comes off the heels of the company’s expansion into Colombia, Peru and Mexico
The mobile payment market in China will explode between now and 2018, rising at a compound annual growth rate (CAGR) of 108% in volume. Leading the way is Alipay, Beijing LaKala Billing Services, TenPay and YeePay.