About six out of ten Americans plan to purchase gift cards – the top item on consumers’ shopping lists – this year, according to Accenture’s 2014 Holiday Shopping Survey. Boost Mobile Wallet and Sprint Money Express, powered by Wipit, provide consumers an easy way to make payments from their smartphone or prepaid Visa or MasterCard with no credit check or monthly fees.
CellPoint Mobile announced a converged payments solution that securely and seamlessly processes passengers’ mobile payments and digital transactions, regardless of mobile device or the disparate array of underlying data sources and mobile payment technologies, including ApplePay, PayPal, MCX, credit-debit cards and others.
Prepaid and gift card transactions continue to gain traction in the U.S. and may approach $400 billion in annual transaction value by 2017. There appears to be a mindset change in the U.S. driving the growth.
San Antonio-based MySingleLink has added Touch ID to its MSL Wallet App for iPhone, iPad, Android Phones and Tablets. When used for payment processing, a Single Use Token can be specific to a merchant, to an invoice, and even to an amount.
Launched in July by SAP’s Ariba and Discover Financial Services, AribaPay has hit the stratosphere. More than $1 billion in payments have been made to nearly 1,300 suppliers using the innovative cloud-based service as companies seek to improve the speed and accuracy of B2B payments.
The latest guesstimate for the U.S. migration to Chip & PIN (EMV) is $9.5 billion and it will take until 2018 to reach a penetration of 80%. This reflects the cost of replacing over one billion insecure magnetic-stripe payment cards, 1.2 million point of sale (POS) card readers and 7 million card reading terminals with the global EMV standard Chip & PIN technology.
Bankrate is acquiring Wallaby Financial. Wallaby’s proprietary CardBase database includes more than 2,400 credit cards offered by over 500 financial institutions and is the ideal companion for every digital wallet solution.
Citi Ventures has formed a partnership with Plug and Play Tech Center to expand Citi’s accelerator efforts in the U.S., Germany, Singapore, Brazil and Spain. This program will utilize Citi’s global lab network while building on its first FinTech accelerator, launched in Tel Aviv, Israel in 2013.
Big data specialist Apixio has named Maya Capur as its Vice President of Customer Operations. Capur will join the company’s executive team and lead the development and expansion of Apixio’s customer success and operations activities.
Compass PlusCompass Plus announced that its open development payment platform, TranzAxis, has now been fully certified to support Futurex’s Excrypt SSP9000 hardware security modules (HSMs). This new partnership with Futurex, a provider of secure, robust, and cost-effective data encryption security solutions, has extended the list of HSMs now supported by the TranzAxis payment platform. Compass Plus’ distributor in the Latin American and Caribbean region, during the migration of Global Processing Centre in Antigua (GPC) to TranzAxis. The certification has enabled customers, including GPC, to utilise Futurex HSMs for EMV data preparation and the card issuance process, as well as the secure authorisation and communication of sensitive data for Visa, MasterCard and UnionPay EMV cards.
CardWeb.com’s CardExecs database today features Kenneth Chenault, Chief Executive Officer of American Express.
Fortumo mpayments signed partnerships with global smartphone manufacturers Oppo Electronics and Gionee. Fortumo’s direct carrier billing solution will be implemented for payments in the manufacturers’ app stores and Fortumo’s app catalogue becomes available for device preloads.