In Other News: CITI (Prepaid); FISERV (Panin); MOBEEWAVE (ADG); and ICI (report).
CITI – Citigroup has reached a definitive agreement to sell its institutional Prepaid Card Services to Wirecard. The operations of Prepaid Card Services, including its approximately 120 employees, will be transferred to Wirecard upon closing.
FISERV – Fiserv announced that Panin Bank, one of the leading retail and business banks in Indonesia, has launched comprehensive new digital banking products and services using Mobiliti and Corillian Online from Fiserv. With the new deployment, Panin Bank has extended the capabilities of its mobile and online channels to deliver the experience their customers want at the speed they expect.
MOBEEWAVE – Mobeewave has selected Alliance Development Group (ADG) to strengthen the company’s business development efforts in China. Chosen for their excellent track record assisting mobile payment and FinTech companies to expand in China and their proven end-to-end services, ADG will collaborate with Mobeewave’s business development team to foster strategic partnerships with China original equipment manufacturers (mobile device OEMs) in an important market for the Canadian FinTech company.
ICI – Information Clearinghouse (ICI), through its F&D Reports division and sister company FDARMS, has released its in-depth segment analysis on the U.S. convenience store industry. Despite a sharp decline in retail fuel prices that pushed total convenience store industry sales down 17.4% to $574.80 billion last year, in-store sales continued to grow, rising 5.8% to $225.80 billion. While the competitive landscape continues to ramp up, both within the industry and across other sectors including grocery stores, mass merchandisers, dollar stores, drug stores and specialty retailers, the biggest opportunities for growth remain inside the store.