Monitise inks a deal to move its production hosting and cloud requirements to IBM, including SoftLayer. The news comes admidst revenues from consumer-originated payments predicted to increase from $249 billion worldwide in 2012 to $460 billion in 20221, there are multiple opportunities for banks to capitalize on this growth via mobile money services.
While retail sales are soft the National Retail Federation says all is good and things will get better by year’s end. The NRF says no retailer was immune to the doldrums witnessed during the first quarter, and as a result, the year’s growth trajectory was impacted.
The NBPCA names a new president. Doug Bower. He held executive positions with Advanta, a multi-product financial services company, MBNA, a large bank issuer of credit cards now part of Bank of America, and CIGNA, a major insurance company.
Fime has been qualified by Visa to perform testing for its ‘contactless EMV analogue and digital’ specifications. This latest qualification supports handset manufacturers by enabling the leading payments consultancy and advanced testing provider to confirm compliance of near field communication (NFC) enabled mobile devices to the functional requirements laid out by the payment system. This after Visa accredited FIME EMEA laboratory to deliver Visa Mobile Payment Application (VMPA) testing to validate Visa payment applications on secure elements.
MasterCard and Worldline partnered to offer the digital wallet platform with open interfaces available for card-issuing institutes. The digital ‘Wallet’ solution will be available to Sparda bank customers via internet. The technology was developed for the Sparda Banks Group by Worldline which meet MasterCard’s specification. MasterPass is a truly global, interoperable solution that makes payment processes quicker, safer and simpler. This clears the path for a more comfortable shopping experience, while also helping consumers and retailers alike take an important step forward in the digital economy. MasterPass eliminates the need for consumers to register with the individual retailer, an in particular the need to re-enter payment data and shipping data with each new transaction. These are instead stored in the system and are revealed to the retailer automatically when the transaction goes through. The payment process is thus shortened to just a few clicks ” a significant time savings.
Nochex online payment services to internet entrepreneurs will now provide PSP through V.me by Visa digital wallet service to serve its e-commerce merchant portfolio. V.me by Visa is the UK’s first pan-European digital wallet service to be offered by banks and financial institutions. Offering simple, secure online payments, V.me by Visa is designed to increase consumer confidence in online shopping and reduce the proportion of sales that are abandoned during the checkout process.
Prepaid cards are a tricky emerging market. A new report suggests that Blackhawk Network, epay, and InComm rule the prepaid market. Mercator says many companies are at risk of displacement if they do not respond accordingly to the mobile, online, and virtual technologies threat.
Square launched an integration with IFTTT (If This Then That). Sellers can now seamlessly integrate their Square data with IFTTT to trigger customized automated actions that streamline business operations and help their day run more smoothly. The IFTTT service lets sellers link their Square account to IFTTT and create custom “recipes” that integrate their Square payment, refund, and settlement data with other products and services like SMS, Google Drive, Twitter, or email. Square launched its software partner platform, opening the door for software partners to develop tools that work seamlessly with Square’s Register service. Square’s software partner platform, which currently includes Intuit QuickBooks, Xero, and Stitch Labs, gives all sellers the ability to save time and reduce errors with customized tools.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Payments volume for Diners Club International declined 1.8% year-on-year and 3.2% sequentially in the second quarter. After peaking at $7.2 billion in Q4/2012, the international card issued by Discover Financial Services, has experienced a substantial softening in quarterly purchase volume. Acquired by Discover Financial Services in July 2008, the international payment…
The 2013 Federal Reserve Payments Study Detailed Report provides new information on the payments landscape including updated results on the intensity of card use by consumers and businesses; further discussion of previously released information on third-party payments fraud; new estimates of over-the-counter cash withdrawals and deposits at bank branches and wire transfers made by businesses and consumers; and discussion of emerging and alternative payments likely to replace traditional payments such as cash and checks.
ControlScan and TSYS’ ProPay team to provide PCI compliance solutions for small- and medium-sized merchants. TSYS says complying with PCI DSS can be a daunting task for any merchant ” especially for small- to medium-sized merchants. While utilizing products such as ProPay’s ProtectPay encryption and tokenization solution can significantly reduce merchant’s PCI DSS burden, all merchants must still comply with the Standard.
Rhodes 101 Stops Convenience Stores have deployed NCR’s ConvenienceGo (C-Go) mobile shopping app. Rhodes 101 Stops operates 30 convenience stores across Southeast Missouri and Southern Illinois and is a subsidiary of PAJCO.