MasterCard and Habitat for Humanity officially launched the work/live initiative. WIth this, Habitat will build homes with functional living and business spaces, offering increased employment and income opportunities for low-income families. The MasterCard Center for Inclusive Growth, the arm of MasterCard focused on advancing financial inclusion, is providing a $400,000 grant to fund the construction of these work/live spaces and to increase Habitat’s capacity to replicate the model across the country.The program builds on the success of previous programs which developed the work/live model in response to community efforts related to economic development.
MasterCard’s (MC) Latin America Caribbean (LAC) region Purchase Dollar Volume (PDV) rose year-on-year (Y/Y) 21.7% on a local currency basis in the first quarter (1Q/2014) to US$49 billion. Over the past twelve months MC’s LAC volume has been growing rapidly, rising 18.2% Y/Y in 1Q/2013 to 23.4% in Q4/2013.
LoopPay made available its LoopWallet app for Android at the Google Play Store. The free LoopWallet app for Android now significantly expands the number of consumers who can store all their cards on their phones and pay faster at just about anywhere they shop with Loop Ready™ devices. The first Loop Ready device available for Android users is the Loop Fob for $39. Additional Loop Ready devices in different form factors will be released throughout this year. Loop is also working with OEMs to embed its patented technology directly into a variety of products including smartphones and smart watches in 2015. Without the critical mass of merchants accepting NFC or other solutions from barcodes to Bluetooth, users won’t change their habits and leave their plastic cards behind. Loop allows users to securely swipe-in or scan-in all their plastic cards, and to securely transmit mag stripe card data directly to almost every POS system today without any changes to the merchants’ current infrastructure.
Datacard announced a new card validation program targeted to card manufacturers and suppliers that allows them to validate the compatibility of their EMV smart cards with Datacard personalization solutions.The card validation program allows card manufacturers and suppliers to receive verification that their smart cards work with Datacard hardware and software systems. If they are pre-validated, issuers requiring those chips on Datacard brand systems will receive a discount on the pre-validated Chip Library for any issuers requiring those cards on their Datacard system with EMV personalization. Datacard Group can also help resolve any issues prior to full production and mass roll-out of card programs.
Fiserv has been granted a patent by the U.S. Patent and Trademark Office for a customer value optimization process in its Predictive ScoresSM solution. Using this newly patented process, financial institutions can benefit from the ability to proactively identify and approach customers with the optimum product, service or treatment they may need at the right time, through the appropriate channels. This can improve the current and future value of the customer, reduce their risk of attrition and increase satisfaction. Customer Value Optimization elevates the ROI of traditional cross-sales programs to previously unattainable levels while Predictive Scores from Fiserv is a suite of solutions that enables financial institutions to identify and prioritize the customers or members who are most likely to be receptive to marketing and sales initiatives by optimizing the revenue potential of each customer or member, and by understanding the most relevant products and services they are most likely to buy.
2Checkout released a new suite of payment API (Application Programming Interface) libraries from beta testing, letting merchants embed 2Checkout’s payment processing capabilities directly into their website. The 2Checkout Payment API libraries join 2Checkout’s hosted options: Standard Checkout and Inline Checkout. With these three checkout platforms, 2Checkout is the payments vendor with the broadest set of customizable payment methods in the world. Merchants use 2Checkout to process credit card, debit card and PayPal payments, allowing them to directly integrate 2Checkout’s technology into their website with complete coding control. They can therefore focus on designing a unique and branded checkout experience for their customers. Standard Checkout displays checkout pages based on the buyer’s device while maintaining the merchant’s unique branding. Inline Checkout provides a simple payment form that gives shoppers the appearance that they are still on the merchant’s site. The Payment API empowers merchants to integrate 2Checkout’s payment processing directly into their website with the most customization options.
Informatica Corporation (INFA) data integration software announced that the Western Union Company has made Informatica the data integration provider for its internal data initiative. Data insights are helping Western Union continue to enhance its digital service offerings, maximize customer satisfaction and improve brand loyalty across the many facets of its global operations. In 2013, Western Union completed 242 million consumer-to-consumer transactions worldwide and 459 million business payments, equating to more than 29 transactions per second, on average.
The MoneyPass Network is celebrating another year of increased growth with a contest for cardholders. The MoneyPass “Caught Without Cash” contest gives cardholders an opportunity to win one of two weekly $100 drawings and a grand prize of $1,000. The “Caught Without Cash” contest runs through June 1, 2014. Contestants enter by sharing a brief story about a time they were caught without cash when it was needed, such as paying a babysitter or shopping at a farmers market. Two $100 winners are drawn each week during the contest. Entries can be voted on by visitors to the contest site and one entry will be chosen from the top ten entries as the grand prize winner at the end of the contest. MoneyPass participants are encouraged to promote the contest to cardholders as a way to increase awareness of the benefits of MoneyPass access.
Oberthur Technologies announced massive deliveries of OT’s MultiSIM for O2 in Germany. OT developed the MultiSIM form factor and adjusted it according to Telefónica Germany requirements. From now on, O2customers do not need to worry anymore, as their new SIM card will fit into any mobile phone. If they want to change from one form factor to another, they do not need to ask their operator for a new SIM card, but can just deplug their MultiSIM. The introduction of OT’s MultiSIM by Telefónica Germany is in line with the issuing of SIM-Plugs instead of ID-sized card bodies which allows the recycling of plastics and marks another step toward environmental sustainability.
hyperWALLET launched payment services to India, providing corporations with a fast, low-cost method of making payments via direct-to-bank money transfers in local currency. hyperWALLET has facilitated corporations to make fully-compliant, low-cost electronic payments to Indian bank accounts in INR currency, typically within 1-2 business days.With the addition of payments to India, hyperWALLET continues to enhance their global payment platform and expand their global payments footprint. hyperWALLET’s payment platform enables companies and individuals to receive and manage their funds using a variety of options including online e-wallets, bank deposit, prepaid cards, cash pickup, via mobile phone and more.
Visa (VS) and MasterCard (MC) debit card activity edged up in the first quarter, as Gross Dollar Volume (GDV) on U.S.-issued debit cards increased 7.0% year-on-year (Y/Y), according to CardData. In the first quarter of 2014 (1Q/2014), VS’ U.S. debit card GDV was up 6.4% Y/Y to $408 billion, while MC’s U.S. debit card GDV increased 9.0% Y/Y in 1Q/2014 to $174 billion. MasterCard debit cards have been growing above 9% Y/Y for the past four quarters.
JUSP announced it is teaming with Nokia as the first provider of a chip-and-pin mPOS solution to the Nokia Lumia smartphone. JUSP’s solution also works with Windows-based PCs as well as smartphones and tablets running Windows, iOS and Android making it an all-encompassing mPOS solution for both micro merchants and small- and medium-sized retail outlets. JUSP’s mPOS device and operating system flexibility, along with the chip-and-pin security and the all-inclusive pricing launched recently by JUSP, makes it extremely easy, convenient and secure for retailers of all sizes to charge customers using whatever means they choose.