Heartland Payment Systems reports record small and mid-sized enterprise second quarter transaction processing volume of $20.4 billion, up 5.6% Y/Y. Same store sales also rose 2.4% and volume attrition was 12.6% in this year’s second quarter.
Gemalto has signed a definitive agreement to acquire 100% of the share capital of SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.SafeNet technology protects over 80% of world’s intra-bank fund transfers and its 1,500+ employees, including 550 cryptographic engineers, serve more than 25,000 customers, both corporations and government agencies, in over 100 countries. In 2013, SafeNet recorded revenues of US$337 million and profit from operations of US$35 million and expects revenues of US$370 million and profit from operations of US$51 million for 2014. The purchase price of US$890 million is self-funded with US$440 million from available cash, and US$450 million drawn from existing long-term credit facilities. The closing of the transaction is expected to occur in Q4 2014, after approval from the relevant regulatory and antitrust authorities.
USAA and Navy Federal Credit Union are delivering industry leading digital banking offerings and earning customer-satisfaction scores for digital that rival those of traditional banks and credit unions. However, a new report says Bank of America took the prize for “2014 Best Overall Digital Banking Experience Leader.”
The National Bank of Abu Dhabi has implemented NCR SelfServ 91, a new hardware platform that will help NBAD transform its branches and extend its retail banking footprint. As the latest in branch banking technology from NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, NCR SelfServ 91 is a modern, sleek, in-branch ATM that can help migrate low-value transactions from the teller line to self-service, freeing branch staff to focus on sales and customer support. When paired with next-generation NCR Interactive Banker software, SelfServ 91 can complete as much as 90 percent of typical teller transactions and connect in-branch employees to server-based software that delivers fast, real-time customer and transaction data to tablet PCs.
Virtual Piggy commented on its recent business progress, in particular, its Oink digital wallet and its growth to the 1 million-system user mark. The company subsequently plans to increase the size of this base both in the US and internationally across Europe, and to increase engagement levels with the Oink service. The Company is anticipating significant new partnerships, product launches and marketing campaigns to occur throughout August, September and October. Virtual Piggy prides itself on the security, consent and payer identity functionality within the Oink service for efficient ‘family’ purchasing.
Millions of smart cards are in use today in Latin America and the Caribbean in EMV chip cards, mobile payments, e-passports, smart transit fare cards, secure government, healthcare, enterprise IDs and more. Now the Smart Card Alliance Latin America group has signed a big deal with Florida State University.
MasterCard led the four networks in year-on-year gains in market share for cards-in-force for the U.S. in the second quarter, gaining 60 basis points, while Visa declined 40 basis points; American Express remained flat; and Discover declined 20 basis points.
NCR’s second quarter growth driven by strong growth in Financial Services, Hospitality and Emerging Industries. For the third quarter NCR expects non-pension operating income (NPOI) to be in the range of $215 million to $225 million.
MasterCard’s European Gross Dollar Volume rises 13.0% on a local currency basis to US$344 billion in the second quarter, compared to US$312 billion in the prior quarter and US$302 billion in the year ago quarter.
Visa is helping U.S. fuel retailers prevent credit and debit card fraud at the pump with intelligent analytics that identify higher-risk transactions that may be fraudulent. While global fraud rates across the Visa payment system remain near historic lows, fuel pumps can be targets for criminals because they are often self-service terminals. The Visa Transaction Advisor (VTA) lets merchants use real-time authorization risk scores to identify transactions that could involve lost, stolen or counterfeit cards. Visa analyzes multiple data sets such as past transactions, whether the account has been involved in a data compromise, and nearly 500 other pieces of data to create a risk score. This allows merchants to identify those transactions with a higher risk of fraud and perform further cardholder authentication before gas is pumped.
Barclays, U.S. Bank, Wells Fargo, Fiserv, and PayPal are experimenting to demonstrate that wearables such as Google Glass and smartwatches can deliver financial alerts, pay for goods and services, and give consumers greater digital control over their finances.
Consumers have become increasingly comfortable using their smartphones for bill payments and other financial transactions, and experts predict that mobile devices are well on their way to becoming a primary tool for managing banking relationships. What the future landscape of mobile payments will look like, however, remains unclear – particularly in the area of mobile payments to merchants and retailers.