The cost of providing rewards on Discover cards is rising three times faster than the income earned from interchange/discount revenues, according to CardData. As one of the top U.S. credit card issuers Discover is renowned for its generous cardholder reward programs, including its new “it” card.
Worldpay picked up about 48 million potential users in a recent deal with Wix. Under terms of the deal, Wix, a web development platform, will work with Worldpay, a specialist in payment processing, risk management and alternative payments, to provide a payment solution to meet the demands of its expanding international user base.
Raphaels Bank Card Services has appointed Emily Utton Senior Relationship Manager and Alex Reddish as Relationship Manager. The appointments round off a rapid period of growth for the Raphaels Bank Card Services team which has tripled in size in just 18 months. Emily Utton has joined Raphaels Bank after five years at Paypoint, where she was an Account Manager, looking after the energy sector. Prior to that, she was Account Manager at the Home Retail Group. Although Emily is new to prepaid, she has extensive experience as a relationship manager in the payments industry. Joining Emily, Alex Reddish has joined the team as Relationship Manager, moving after two years as Relationship Manager at Ukash. He has a long family history in prepaid and did his final dissertation, at Roehampton University, on the future of prepaid. Meanwhile, Janet Johnston has expanded her role as Head of Operations to include Relationship Management. Janet has been with Raphaels for three years, initially heading up Operations.
Fiserv announced today that United Credit Union has selected the CUnify account processing platform from Fiserv. United will add CheckFree RXP from Fiserv and the Popmoney person-to-person (P2P) payment service. United chose CUnify for its reliability and state-of-the-art relational database foundation to streamline workflows, improve overall performance and provide seamless payments integration. The changing payment preferences of the members at United indicated the need for electronic personal payments capabilities. New to members, United will offer the ability to make person-to-person payments via Popmoney, which was selected for its security and ease of use. Following implementation, members will have the ability to securely send, receive and request money to/from individuals for purposes such as making a last-minute rent payment, sending money to a family member in an emergency, or paying a small business or service provider upon completion of a project.
CoinVoxis selecting BitPay as its official wallet and payment processor. Coinvox nonpartisan digital donation platform for political organizations, is integrating with BitPay in an effort to define the new landscape in which digital currencies such as Bitcoin can be used for political campaign elections. BitPay will allow CoinVox to expand into the future beyond the midterm elections and into international politics and causes. CoinVox is now open for business to candidates and organizations interested in soliciting and accepting digital currency through its platform.
Tripwire risk-based security and compliance management solutions, announced Ken Westin, security researcher for Tripwire, will present at ToorCamp 2014. Westin has researched how organized crime rings, including those with connections to Russian and Eastern European groups, generate revenue through credit card theft. These groups profit through shoplifting, identity theft credit card skimming and other forms of fraud. Westin will discuss several cybercriminal cases he helped crack and attendees will learn key elements of the credit card black market. the connection between credit cards and the exploit market and how stolen credit cards fuel other forms of retail fraud.
Simple account now offer a better banking experience with quick and easy money transfers. Moving money to External Accounts takes just one business day. Some banks charge a fee for transferring your money to external accounts, and only offer accelerated transfers at a premium. External transfers to and from Simple will remain free for customers, who can quickly link a new External Account in our iOS or web apps to schedule transfers from web, iOS, and Android apps.
The Bango Payment Platform is now available to selected digital merchants. From today, best in class, “app store quality” payments are available beyond the app stores, to mobile websites and HTML5 web apps.
payLo by Virgin Mobile will offer customers an affordable choice for domestic unlimited voice or unlimited texting at just $20 per month exclusively at Walmart. With affordable devices and value-driven monthly plans, payLo offers customers two exclusive $20/month offers. payLo provides a reliable and affordable wireless phone that helps them to be responsible wireless consumers”without breaking the bank and without a contract. Walmart customers can also choose the existing $30 Talk & Text plan or the $40 Unlimited Talk & Text plan. Additional minutes, messages and data will be available at existing rates of $0.10/min, $0.15 for text messages, $0.25 for picture messages and $1.50/MB for web access.
Digital River is set to host a free webinar to help businesses learn how to drive online revenue growth with Google Shopping, formerly known as Google Product Listing Ads (PLAs). The webinar, “The Power of Google Shopping,” is now open for registration (http://driv.ws/2d) now. The webinar will be led by Mahmood Khan, senior program manager for strategic marketing at Digital River. Mahmood will be joined by a guest speaker from a multi-national branded manufacturer. Working with Digital River, this branded manufacturer launched a Google Shopping campaign that drove an 115 percent increase in quarter-over-quarter online revenue.
UPG plc acquired Accept Cards Limited and Accept Card Rentals Limited. The Accept Cards business does not provide card processing services direct – instead it works independently of acquirers, in partnership with merchants to match their specific card processing requirements to the acquirer best suited to their needs. The Accept Cards business has a significant number of excellent partnership relationships with membership organisations, professional practices and independent banks to provide a best in class service to their clients. UPG is one of the UK’s largest independent Payment Gateway and Payment Service Providers (PSP). The company serves merchants of all sizes directly and through the gateway services provided to a number of other independent PSP’s.
International Cash Dollar Volume for Visa and MasterCard debit cards rose a mere 2.7% year-on-year in the first quarter. Visa posted $459 billion in Q1/14 international debit card CDV, compared to $506 billion in the prior quarter and $466 billion in the year ago quarter, for a Y/Y growth rate of (-1.5%). Visa’s CEMEA region is comprised of countries in Central Europe, the Middle East and Africa.