CA-based merchant services provider Century Business Solutions has added another ERP system to its arsenal of programs to which it can integrate with QuickBooks, Sage programs, and NetSuite. The move comes on the heels of a partnership with ExpandIT Solutions.
A new report concludes with three key areas for improvement that commercial card issuers should focus on to make their T&E programs more valuable to travel managers and business travelers during 2015.
Panasonic unveiled the new modular “Stingray III” POS workstation. An enterprise-grade POS device compatible with a variety of Microsoft Windows operating systems, it features an all-in-one flexible, modular design for the retail, quick service restaurant (QSR) and hospitality industries. Flexibility and Modularity: The Stingray III’s versatile design features interchangeable touchscreens and allows easy customization to meet individual retailer requirements with unlimited mounting options. The increased modularity of the Stingray III also makes servicing and replacing parts a simpler process, allowing the workstation to be easily maintained, reducing total cost of ownership and increasing ROI.
First Data and UL payment security and compliance partnered to help U.S. merchants expedite their EMV card acceptance. This partnership is focused on giving large and mid-size merchants with integrated POS systems a one-stop EMV migration and certification solution for all major payment networks. Combining UL’s accredited testing tools and centralized certification management platforms streamlines EMV migration by combining training, test tools and testing services, while eliminating the inefficiencies found in the current process of certifying to multiple end-points and certification authorities.
The Smart Card Alliance Payments, Mobile and NFC, and Transportation Councils made significant headway in 2014, educating the industry on the security benefits of smart card technology for a wide variety of payment applications and use cases.The Payments Council focuses on facilitating the adoption of chip-enabled payments and payment applications in the U.S. and works closely with the EMV Migration Forum to educate stakeholders on the security benefits of EMV chip technology. The Mobile and NFC Council activities help to accelerate the practical use of NFC applications such as payments, loyalty and marketing. In 2014, the council put forward workshops, white papers and other educational industry resources to discuss and promote common mobile and NFC standards and best practices.
MasterCard is combining its payment technology with Masabi’s JustRide mobile ticketing platform to streamline mass transit payments. The first city to benefit from this alliance will be Athens.
While profits among the world’s largest payment card networks rose 4.4% in the third quarter (Q3/14), the figure for the fourth quarter will be relatively flat in the fourth quarter (Q4/14), compared to one year ago. During 2015, profits will near $5.0 billion in Q2/15 or Q3/15.
The number of payment cards-in-force (CIF) in Eqypt hit 17.0 million in 2014, compared to 10.0 million five years ago, growing at a compound annual growth rate (CAGR) of 11.2%. The Egyptian economy is the second-largest in the Middle East after Saudi Arabia.
China UnionPay ATMs topped the 600,000 milestone in 2014 and now growing 20.6% per year. CUP added nearly 100,000 ATMs last year. The construction of small outlets such as “community banks” and “financial convenience stores” in China will likely spur the demand for ATMs in 2015.
Consumer debt in the UK hit a seven-year high during the fourth quarter topping £1.25 billion. Borrowing on credit cards, loans and overdrafts by Brits is now growing at an annual rate of 6.9%.
This year approximately 10% of the base of smartphones worldwide will be used to make an in-store payment at least once a month, compared to less than half a percent (led by early adopters in Japan) of about 450 million smartphones in mid-2014.
Boston-based peerTransfer, a provider of global payment solutions for the education industry, has raised more funding. Bain Capital Ventures led the latest round.