In Other News: BUZZ POINTS (study); ACCULYNK (Payzur); USAT (Coastal Canteen); and FRAGMOB (CMS).
BUZZ POINTS – Buzz Points, the Austin-based rewards and marketing platform, announced the results of “The Total Economic Impact of Buzz Points,” a commissioned study conducted by Forrester Consulting on behalf of Buzz Points. Forrester interviewed four community financial institutions (CFIs) with experience using Buzz Points as the centerpiece for loyalty and rewards solutions, ultimately creating a composite organizational model that analyzes the benefits, costs and risks associated with Buzz Points. Forrester’s analysis projects that Buzz Points would likely generate a risk-adjusted return on investment (ROI) of 139% over three years and pay back program costs in just over four months for regional banks and credit unions that implement the program.
ACCULYNK – Acculynk has added international remittance capabilities to its Payzur P2P solution. Payzur now allows Banks and Credit Unions to offer international P2P payments to their customers via their existing P2P solution. There is no longer a need to use outside suppliers to provide international remittance capabilities to their customers. Now, a customer can send payments to US or international recipients. The Financial Institution can offer the expanded capability by signing up for the service.
USAT – USA Technologies announced the initial results of an expanded agreement with Coastal Canteen Vending and Food Services Inc. (Coastal Canteen). USAT is currently upgrading the company’s 1500 machines to its state-of-the-art cashless technology platform and telemetry services, enabling the company to track the acceptance of cash, credit/debit cards, and mobile wallet payments such as Android Pay and Apple Pay through its NFC-capable ePort Connect cashless payment system. To date, with approximately a third of the deployment completed, Coastal Canteen is initially reporting cashless usage at 32% of average machine sales.
FRAGMOB – Fragmob, a mobile sales automation software provider, announced its partnership with Complete Merchant Solutions (CMS), a full-service electronic payments solutions provider. With this partnership, Fragmob and CMS will assist joint corporate customers in processing their mCommerce transactions for all major credit and debit cards, gift and loyalty cards, ACH, remote deposit capture as well as other non-cash payment methods. In addition, by integrating CMS ePayment solutions with the Fragmob direct sales business platform, the two companies will offer corporations insight into the numbers that drive business.