Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups. www.robert-mckinley.com

Eckoh Patents CallGuard Payments

Eckoh secure payment products and customer service solutions has been granted a patent (No. 2478916) for the transaction security method and system that underpins its CallGuard product.The patent was filed in 2010 by Veritape, a leading secure payment solutions company acquired by Eckoh in June 2013. Both Eckoh and Veritape have specialised in developing card payment solutions to assist companies in making ‘card-not-present’ transactions more secure, particularly those made over the phone through a contact centre. CallGuard, installed on customers’ sites, has proven its success in the market with deployments across the globe. Many companies such as outsourced contact centre providers have adopted the simple plug-and-play solution that prevents sensitive customer cardholder data from reaching call recordings and contact centre agents.

Unemployment Rate Sits Unchanged M/M at Record Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Payroll employment was up 217,000 in May for an unchanged unemployment rate of 6.3 from the previous month figure. This comes after a 0.4 percentage point drop in April. The number of unemployed persons was unchanged in May at 9.8 million. The unemployment rate and the number of unemployed persons declined…

American Express Uber

American Express this afternoon announces a new partnership with Uber and a first-of-its-kind technology integration into the Uber iOS app that allows U.S. Card Members enrolled in the Membership Rewards program to choose to earn 2x points or use points for Uber rides. This is the first time that consumers can use loyalty reward points seamlessly in-app and in real time for on-demand transportation in this way.

DFC Global Stockholders Approve Lone Star Takeover

DFC Global Corp international diversified financial services company serving primarily unbanked and under-banked consumers announced at the Company’s special meeting of stockholders a majority of the outstanding shares of DFC Global common stock voted to approve the acquisition of DFC Global by an affiliate of Lone Star Funds (“Lone Star”). Houlihan Lokey Capital, Inc. is acting as financial advisor to DFC Global in connection with the transaction. Pepper Hamilton LLP is acting as DFC Global’s legal advisor. Jefferies LLC is acting as lead financial advisor to Lone Star Funds and Credit Suisse Securities (USA), LLC is acting as financial advisor. Jefferies Finance LLC and Credit Suisse AG are providing debt financing commitments for the acquisition.

Venmo Button

Venmo has developed a way to tip a favorite artist, or donating to a good cause, or other money that enables people to continue doing what matters. The new Venmo Button is a new way to accept tips, donations, and other optional payments. It’s trivial to embed on a web site, and receiving payments is just as frictionless as you’d expect from Venmo.

VerifyValid Announces Latest Credit Union deal

Lake Michigan Credit Union (LMCU) is partnering VerifyValid electronically-delivered check payments (eChecks). This lets members to quickly and easily receive, manage and deposit VerifyValid eChecks directly into their accounts.
eChecks combine the speed and convenience of electronic payments with the safety, familiarity, and information of paper checks, and can be sent from any computer, tablet or iOS phone. eChecks are currently used by individuals and businesses, such as Grand Valley State University, one of West Michigan’s largest employers, to pay many of its vendors. Additionally, the rate of eCheck usage is increasing nationally through partnerships between VerifyValid and Deluxe Corporation. Financial institutions can offer the VerifyValid eLockbox technology using no new equipment, no software installation, and requires no maintenance or service calls. LMCU can add it to a member’s account in minutes.

Green Dot Supports Visa Prepaid Card Designation

Green Dot Corporation supports Visa’s recently announced designation for consumer reloadable prepaid products in the U.S. The new designation is aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. Green Dot Corporation is the largest provider of reloadable prepaid debit cards in America with its products sold in more than 90,000 retail locations nationwide.To qualify for the new Visa prepaid designation, prepaid programs must meet a set of standards outlined by Visa that relate to simplified fees and transparent disclosures as well as superior consumer protections.

Monitise Announces Latest Branchless Banking Client

Monitise banking technology partnered Kredi Bank to offer Nuvo ‘branchless banking’ service with mobile commerce capabilities. This allows customers to open accounts and complete all their transactions via mobile and internet banking, Nuvo enables consumers to manage their money and take advantage of mobile shopping and commerce services in their own time and from anywhere. Account features include competitive interest rates, free account transactions and money transfers, and perks such as Yapı Kredi’s World Gold or Play Card loyalty programs. In addition to delivering banking convenience, Nuvo offers exclusive shopping benefits to its users, including discounts and reduced delivery costs. Nuvo is currently available on iOS and Android, in both Turkish and English.

Volante ships SADC Payments IS0 20022 conversion pack

Volante announced the release of its latest ISO 20022 Accelerator; the SADC Payments IS0 20022 Conversion Pack. The pack is designed to help firms comply with the new harmonized local payments infrastructure being created within the Southern African Region. The SADC Payments Conversion Pack contains a range of software modules that provides all SADC rules and message components in pre-built cartridges. The combination of pre-built components plus Volante’s proven ISO 20022 payments processing software enables any bank to convert to a SADC payments processing environment quickly and efficiently. With Volante ISO 20022 product, firms are able to insulate themselves from changes to future standards as well as leverage the technology for use in other business areas with global and regional ISO 20022 projects.

VeriFone Posts Fiscal 2Q/14 Net Revenue of $467mm

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] VeriFone Systems secure electronic payment solutions announced for the three months ended April 30, 2014 net revenue of $467 million, up 9% from the year ago figure of $430 million. The second quarter financial results exceeded Verifone guidance. This comes as VeriFone approved restructuring plans in order to support its transformation…