Digital River Commerce-as-a-Service solutions signed a global payments agreement with Morinda, Inc., a direct-selling company that markets nutritional, health and wellness products. Morinda is using the Digital River World Payments solution to build a localized European payments program that supports online sales of its lifestyle products across Russia, Hungary, Latvia, Lithuania, Poland, Romania and the Czech Republic. The Digital River solution will offer Morinda customers online credit card payments in seven different local currencies. Through Digital River World Payments, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In 2013, the company processed more than $30 billion in online transactions.
General purpose payment card activity on the world’s two largest networks rose 7.6% year-on-year (Y/Y), but down 1.8% quarter-to-quarter (Q/Q) in the first quarter of this year (Q1/2014). The Gross Dollar Volume (GDV) reported by Visa (VS) and MasterCard (MC) for Q1/2014 came in at slightly over $1 trillion, compared to $1028 billion in the prior quarter and $933 billion in the year ago quarter.
Pamela Joseph, vice chair at U.S. Bancorp and head of the company’s payment services division, was recently honored by the Electronic Transaction Association with the 2014 Distinguished Payments Professional Award. Joseph is recognized not only for her business acumen but as a thought leader on the role financial institution play in the evolving payments industry. In addition to her daily business activity, Joseph leads the Women Leaders in Action (WLA), a women’s resource group uniting women across U.S. Bank Payment Services with a mission to provide support for community-based programs. The Distinguished Payments Professional award is intended to recognize an industry leader, acknowledged trend-setter, role model, and positive contributor to the efficacy and overall image of the industry.
Thanks to chip technology and fraud detection, debit card fraud losses in Canada reached a record low last year, declining 23% year-on-year (Y/Y) and sinking 79% (Y/Y) after peaking in 2006. Interac reported debit card losses climbed from $94.6 million in 2006 to a record high of $142.3 million in 2009 and then reversed course in 2010, declining to 2013’s record low of $29.5 million.
Better ATM Services announced changes to its leadership team to accelerate the company’s plan for profitable growth. Howard Green will assume the role of Acting President and Chief Executive Officer. He will be leading Better ATM Services’ next phase of growth with a particular focus on go-to-market strategies, creating new product commercialization opportunities and expanding leadership resources. In addition, technology industry standouts Mark Olson and Dan Perez are joining Better ATM Services’ Board of Directors. Current President and CEO Todd Nuttall will assume the role of EVP, Enabling Technologies.
NCR Corporation announced NCR Silver iPad POS system for small business has been integrated with Retail Intel, a cloud-based service that automatically pulls sales data directly from the NCR Silver platform to QuickBooks®. By eliminating the need for time-consuming daily journal entries, the integration will save businesses countless hours on manual tasks and significantly improve operational efficiency and accuracy. It helps Shift Management and Cash Reconciliation, Time Clock management and offers Multiple Tax Options.
Heartland Payment announced that its Board of Directors has authorized a new $75 million share repurchase program. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. The new authorization is a result of the completion of an existing program, which went into effect effective on November 6, 2012, under which the company repurchased 1,667,983 shares of its common stock at an average price of $29.98 per share.
Citi cardholders can use ThankYou® Points for their bill payments. Citi ThankYou® Rewards members can earn ThankYou Points across their Citi banking and credit card relationship and use these points to pay virtually any bill online including phone, cable and electricity. Citi ThankYou Rewards members can use their ThankYou Points – and their ThankYou enrolled consumer checking account – to pay bills online.
OTP Bank’s “OTPay” is an integrated mobile wallet for smartphones that is the first to bring in-store mobile payments to Hungarian users. The solution was developed by Cellum Group, in accordance with MasterCard’s standards for mobile payment systems. The solution of Cellum and OTP can break the bottleneck of mobile payments in Hungary. Mobile payments are now made possible essentially anywhere, as the technical background has been established: anyone can download the app and register a bank card, and merchants can introduce mobile payments in their store free of charge. OTPay uses cloud payment technology to carry out secure transactions, during which users do not need to hand over their bank card details to merchants.
Digital River Commerce-as-a-Service solutions signed a global payments agreement with Morinda direct-selling. Morinda is using the Digital River World Payments solution to build a payments program that supports online sales of its lifestyle products across Russia, Hungary, Latvia, Lithuania, Poland, Romania and the Czech Republic. The Digital River solution will offer Morinda customers online credit card payments in seven different local currencies, including Russian ruble, Hungarian forint, Latvian lats, Lithuanian litas, Polish złoty, Romanian leu and Czech koruna. Through Digital River World Payments, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In 2013, the company processed more than $30 billion in online transactions.
Link cash machine network announced a new initiative that allows customers to suggest a cash machine that they would like to dispense £5 notes. Being able to withdraw fivers from cash machines is useful for some customers, particularly those on tighter budgets. By completing a form on the LINK website, anyone can suggest an existing cash machine that they’d like to be able to withdraw £5 notes from. LINK will then pass the request on to the relevant cash machine owner, for consideration.
NCR announced Karali Ltd., one of the largest Burger King franchises in the U.K., has chosen its software and hardware solutions to help improve customer experience and the efficiency of its business across its 56 restaurants. Selected for its strong U.K. presence and innovative solutions, NCR will provide Karali with its latest NCR Aloha hospitality software suite, as well as NCR Pulse Real-Time and NCR Restaurant Guard to provide the latest SaaS-based mobile analytics engines. NCR has also deployed hardware that includes the NCR P1230 point-of-sale (POS) and a kitchen management system. The comprehensive suite of NCR software will help Karali provide insight into how the business is performing and customer engagement.