Consumer credit outstandings are ratcheting up as delinquency heads strongly upward in conjunction with an improving economy. However, 2015 could be a reversal of the current trends. It’s a deja vu all over again for the payments industry.
The FDIC stopped neutrally enforcing regulations designed to protect consumers and ensure the safety and soundness of the nation’s banks, and then pursued their own personal political agenda and attempted to shut down legal businesses these officials did not like.
Although NFC has been around for as long as QR code technology, it hasn’t been as widely adopted. The main reason for this is that NFC chips previously had to be embedded in marketing materials, making it awkward and expensive. However more recently, the development of NFC-enabled papers and plastics has opened up fantastic new opportunities to direct mail marketers.
Delta Air Lines has extended its exclusive co-brand credit card agreement with American Express. The deal includes continuation of Delta as a card-accepting merchant and as a participant in the Membership Rewards program from American Express.
Scotia Security Group has announced its intention to enter the US market with its ATM Cassette Guard device for protecting staff during cash replenishment. ATM Cassette Guard restricts access to the ATM’s cash cassettes during cash replenishment; programmable access codes and a full audit trail ensure complete access traceability, so the opportunity for fraud is extremely low. Integrated security features defend against physical attacks including thermal, cutting and explosives. Scotia Security Group has earned an enviable reputation for advanced banking security products; its customer list includes most major UK banks, many multi – national banks operating in the UK and several building societies. ATM Cassette Guard can be installed very quickly and easily; it uses existing fixing points so downtime is minimal and servicing can be carried out as normal.
VA-based 3Delta Systems is now certified to process payments through Chase Paymentech. Customers using the 3Delta Systems Payment WorkSuite® card processing platform can now submit their transactions to Chase Paymentech.
USA Technologies has landed one of its biggest deals with a large-scale roll out of e-Port with Five Star Food Service. USA Technologies (USAT) is a specialist in wireless, cashless payment and M2M telemetry solutions for small-ticket.
Palo Alto, CA-based Bill.com has introduced Fast Pay, enabling SMBs to pay and get paid faster, allowing precise cash flow management. Now, SMBs in particular can rely on a seamless digital solution without the hassle of going to the bank to send wire transfers or scheduling pickups by FedEx or UPS.
The second largest bank by deposits in Colorado and largest locally owned bank, today announced a person-to-person (P2P) payments system as the newest tool in its robust mobile banking application. With this addition, FirstBank becomes the most recent bank to offer P2P payments through the clearXchange network, providing customers with an easy way to send and receive money via their mobile devices.
Manhattan Beach has delivered another payments anomaly in the current payments ecosystem. Cause Payments automatically contributes a portion of every credit card transaction processed to a charity or school of the merchant’s choice.
ACI’s ReD has teamed with First Data Mexico to offer enhanced fraud prevention services in support of the fast growing e-commerce market in Latin America.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features James Nevels a new member of the First Data Board of Directors.