In Other News: WI-Q (mobile); PAYWITHCHIP (funding); PACKAGED (Latinos); and FTC (penalties).
WI-Q – As part of its commitment to lead the way in customer experience, Galway-based coffee house, the Red Eye Coffee Roasters will be the first venue in Ireland to offer customers the ability to order and pay on their mobile devices with Wi-Q. The service is aimed at busy Ballybrit office workers who don’t want to waste precious time queuing for food and drink orders at the popular café. Wi-Q uses unique mobile ordering technology that allows customers to browse, order and pay from any mobile device without queuing or waiting for service. The award-winning technology is already leading the way in England and the Red Eye Café will be the first to offer the service to its customers in Ireland.
PAYWITHCHIP – PayWithChip is a payment processing service that provides online websites the ability to accept and process payments using the fraud protection technology present in EMV/Chip-based payment cards. The company is launching an Indiegogo campaign to fund the development of the patent pending technology and market the new product and its benefits. With PayWithChip, consumers will finally have access to the fraud protection features available when shopping in person by leveraging the ultra-secure payment processing occurring with EMV/Chip based payment cards.
PACKAGED – In recent years Latino consumers have generated exceptional growth opportunities for the financial services industry. Because of projected above-average growth in the number of Latino consumers and an expanding base of middle- and higher-income Hispanic households, these patterns are likely to continue, according to market research firm Packaged Facts in the report Hispanics: Demographic and Consumer Spending Trends.
FTC – The Federal Trade Commission has approved final amendments to Commission Rule 1.98 that adjust the maximum civil penalty dollar amounts for violations of 16 provisions of law the FTC enforces, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The Act directs agencies to implement a “catch-up” inflation adjustment based on a prescribed formula. The new maximum civil penalty amounts will take effect on August 1, 2016. The maximum civil penalty amount has increased from $16,000 to $40,000.