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

VTB24 Deploys NCR Cash Recycling

NCR begun modernizing the ATM network of VTB24 with its SelfServ cash recycling functionality. The modular self-service systems help to improve the quality and reliability of service and make everyday financial transactions more convenient for customers.A cash recycling ATM dispenses cash deposited by one customer to the next customer withdrawing money. The cash recycling feature has been approved by the Russian Central Bank in early 2013. Since then, VTB24 has upgraded 65 of the existing intelligent deposit ATMs within its network to recycling functionality in Moscow and St. Petersburg. Cash recycling allows VTB24 to free up their bank tellers to provide superior customer service and engage new clients.

PPRO Group Names CSO

PPRO Group, end-to-end solution provider for international electronic payment, announced that it is expanding its international reach and has added new members to its team to drive this process.Since the start of 2014, three experts with vast, hands-on experience have been heading up sales, strategy and marketing activities. Director International Sales, Frank Breuss (38) is responsible for customer acquisition and for customer and partner relationship management. As Chief Strategy Officer, Ralf Ohlhausen (52) will be driving global expansion and Elke Woessner (39) will be looking after corporate communications as Head of PR and

Diners Club Q1

Payments volume for Diners Club International declined 2% year-on-year and 4% sequentially in the first quarter. After peaking at $7.2 billion in Q4/2012, the international card issued by Discover Financial Services, has experienced a softening in quarterly purchase volume by 9%. Acquired by Discover Financial Services in July 2008, the international payment card has consistently hovered between $6.5 billion and $7.0 billion in quarterly payments volume.

Visa Posts Fiscal 2Q/14 Net Income of $1.6B

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced financial results for the Company’s fiscal second quarter 2014. Net income for the quarter was $1.6 billion, an increase of 26% over the prior year, or $2.52 per share, an increase of 31% over the prior year. These results include a tax benefit of $218 million of which $201…

WEX Europe Partners with Conferma

WEX Inc. today announced that WEX Europe Limited has entered into an international agreement with Conferma, an expert provider of Virtual Card Number (VCN) technology for corporate travel and expense. The agreement builds on the virtual card technology and expertise of WEX Europe and will provide Conferma and its clients with business benefits internationally, building on WEX’s strengths in Virtual Credit, Debit and Prepaid payment solutions. The relationship brings a unique prepaid virtual product into Conferma’s suite of payment options for the first time, enabling Conferma’s partners to optimize payments by selecting the payment method that is most appropriate for each transaction type.

IndiSoft and Bluefin Partner on Integrated Payments

IndiSoft and Bluefin Payment Systems partnered to offer a fully integrated payment and security solution for IndiSoft clients. IndiSoft clients using the company’s RxOffice platform will have access to Bluefin’s PayConexTM payment processing platform which includes tokenization and transparent redirect security features, as well as Bluefin’s PayConexTM point-to-point encryption (P2PE) solution. Bluefin specializes in integrated cloud-based payment and security solutions for independent software vendors (ISVs) and SaaS providers. Bluefin recently introduced the first, and to date only, PCI-validated solution for P2PE in North America. PayConex P2PE encrypts credit and debit card data in a secure point of entry device, ensuring that clear-text cardholder data does not reach the merchant’s POS systems and networks where it could be exposed to malware.

Swift upgrades Bankers World reference data directory

Swift launched launched Bankers World Online directory online query tool which has been significantly upgraded to provide more data coverage, a wider breadth of financial information (including data from Reuters, Dun & Bradstreet, and Moody’s), and new intuitive features and functionalities. The service is part of the SWIFTRef portfolio, an industry-wide platform for global payments reference data. The new Bankers World Online service includes essential reference data, such as Business Identification Codes (BIC), International Bank Account Numbers (IBAN), Legal Entity Identifiers (LEI), national bank codes and more that are used to facilitate international payments and to fulfil new reporting requirements. It also includes important financial information from market data vendors and credit rating agencies, including credit ratings, shareholder information, balance sheet information, cash flows, and many more data sets about customers, suppliers and service providers.

Thuraya Partners With Western Union

Thuraya Telecommunications Company and The Western Union Company announced their agreement to offer top-up services for Thuraya prepaid SIMs for voice and data services using the Western Union® Quick PaySM service. The service is available at participating Western Union agent locations in the majority of the 200+ countries and territories in which the company provides services. This new and convenient method of payment enables Thuraya customers to recharge their pre-paid SIMS with no extra fee.

Checkprint Lands Five Year Client Contract

Checkprint secure paper and payment solutions was awarded a five-year contract extension by Nationwide Group to provide branch cheques and credit books. Having delivered almost 2.3 million checks, Checkprint checks can be issued to customers who do not have a chequebook facility as part of their account, for instance a savings account. Nationwide will continue to use Checkprint’s Customer Auto Replenishment Service (CARS), which automatically manages stock levels to ensure branches do not run out of cheques.

Union First Market Bankshares Name Change

Union First Market Bankshares Corporation announced that it has officially changed its name to Union Bankshares Corporation. The name change does not affect Union First Market Bank or StellarOne Bank and does not affect any of the other non-bank affiliates of the company. In May 2014, StellarOne Bank will merge into Union First Market Bank. The combined bank will continue to operate under the name Union First Market Bank until the second half of the year.

Ukash Partners ProfPay eCommerce

ProfPay has deployed Ukash online cash payment provider to help Ghanaians and Nigerians play online games, pay and shop on the web. The new agreement offers access to easy, international, online payments from Ukash, without the need for traditional banking information – a key step for Africans keen to embrace the online world. ProfPay operates a multi-method payment gateway and an Online Mall, designed to remove the barriers African consumers face when transacting online – whether it’s playing games or shopping or paying for services. Figures suggest that the ecommerce market in Africa will grow to $75 billion by 2025, making it 10% of all retail sales*. However, today Africans encounter huge issues participating in the online world due to concerns about security and a lack of bank accounts and postal addresses.