International Bancard has ankled Gary Rutledge, a payments expert with more than 30 years of experience, as President effective next week. Rutledge will integrate and oversee execution of the company’s vision and strategic plan. Rutledge will have direct oversight and leadership of the company’s two teams: the revenue team and the revenue support team. Rutledge…
Canada has adopted ISO 20022, a major step in the modernization of Canada’s payment system. The announcement comes as demand for ISO 20022 is widespread among Canadian businesses. ISO 20022 is a global standard for electronic payment messages that will help businesses and financial institutions facilitate the move away from paper by creating the ability…
Rumors continue to swirl in regard to a deal for MasterCard to acquire the Vocalink, the UK operator of the Faster Payments service for approximately £1 billion (US$1.13 billion). The British press, including Sky News, says 13 banks which are shareholders in Vocalink have approved a period of exclusivity within which Mastercard can negotiate a takeover…
Israeli On Track Innovations has inked a strategic partnership with Swiss-based Microtronic, a European provider of closed loop cashless payment systems for vending and office coffee service (OCS). The companies will introduce a solution that integrates Microtronic’s e-vending and closed loop payment solution into oti’s CONNECT 3000 telemetry device and proven line of TRIO and…
Q-Card is now a Visa recognized testing Laboratory for Contactless Card Level 1, Mobile Contactless Level 1 and HCE Level 1. The Visa accreditation further expands Q‐Card’s functional type approval offering to better service card, chip and mobile handset manufacturers. Q‐Card is an ISO 17025 accredited laboratory and has received EMVCo Level 1 accreditation for…
In Other News: WAVE (CCB); APRIVA (SEAA); EMV (resources); and SHOPIFY (product). WAVE – Wave Sync announced that Guangdong Branch of China Construction Bank, one of China’s four major banks, launched a pilot program to issue new audio bank cards embedded with our inlays. Under this pilot program, audio cards with our inlays, once applied…
New research reveals the Point of Sale (POS) terminals market size was over 32 million units in 2015, which is forecast to grow at 18.3% CAGR to reach 126 million units by 2023. The Global Market Insights study also found the POS Terminals Market size is forecast to be worth US$103.52 billion by 2023. Seven…
Seattle-based Remitly, the largest independent digital money transmitter in the US, has closed a $38.5 million Series C funding round. Stripes Group led this round and was joined by Vulcan Capital, both new investors in Remitly. Existing Remitly investors also contributed to the round including DFJ, DN Capital, Bezos Expeditions and Trilogy Equity Partners, among…
A new study found the vast majority retailers and restaurant owners recognize the critical role of their POS in the overall customer experience. The research revealed 86%, 84% and 83% say the opportunity to collect new and expanded insights on customers, operations and product, respectively, had at least moderate influence on their decisions to implement…
GiftLogic Point of Sale (POS) software has added support for Magento eCommerce within its interface. The combination of GiftLogic and Magento eCommerce software allows retailers to quickly create an online store that can be managed within the GiftLogic POS software. Once connected, retailers can export their web items from GiftLogic to their Magento store. This…
TSYS has inked a long-term renewal agreement with HealthEquity to provide payments processing services for the company’s healthcare payments portfolio. As one of the largest health savings account administrators, HealthEquity works with a wide variety of employers, diverse in industry, size, location, and culture. TSYS has provided processing services for HealthEquity since 2009. As part…
The nation’s second largest Visa and MasterCard issuer, Bank of America (BofA), to be unseated by Capital One in 2016, continues to struggle with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, especially credit risk management are above peer group averages Year-On-Year (YOY). Pre-tax net income edged up 3.6% YOY to…