Robert McKinley, Senior Analyst/Editor Robert McKinley, with 33 years experience covering payment cards and payment systems, is Senior Analyst/Editor for CardFlash and other payments-related publications. He is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. McKinley served as an expert witness in 100+ litigations including two multi-$billion trials, testified before the U.S. Congress, chaired multiple payments conferences, hired as consultant by Fortune 100 companies and several overseas financial institutions. Full Bio: www.rbm4.com

ChannelAdvisor Announces First Quarter 2014 Financial Results

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ChannelAdvisor Corporation (ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, announced its financial results for the quarter ended March 31, 2014. Total revenue of $19.3 million for the first quarter of 2014 increased 30 percent compared with total revenue of $14.9 million…

EVERTEC to Present at Annual J.P. Morgan Conference

EVERTEC announced it that will be presenting at the J.P. Morgan 42nd Annual Global Technology, Media and Telecom Conference to be held at The Westin Copley Place. EVERTEC full-service transaction processing business offers a broad range of merchant acquiring, payment processing and business solutions services. EVERTEC serves 19 countries in the region from its base in Puerto Rico and manages a system of electronic payment networks that process more than 2.1 billion transactions annually, and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing.

Ukash Announces Latest Client

Ukash has announced that Betfair has signed up to their popular service which enables customers to use cash to transact online with Betfair. Betfair customers who pass strict verification processes will be able to make cash deposits into their account through Ukash vouchers, which are available from over 50,000 sale points in the UK, with a reverse process being available to make cash withdrawals. The service is available on both desktop and mobile. Ukash enables players to spend cash securely online. Ukash codes are purchased with cash in retail outlets such as shops and petrol stations. The unique 19 digit codes can then be used to pay directly on thousands of websites that accept Ukash transactions worldwide.

MasterCard launches school payment app

MasterCard QkR payment app follows the recent successful pilot. The mobile payment app allows parents to pay for school meals, contribute to fundraising initiatives as well as purchase school uniforms and other items via their mobile device or tablet. The Qkr payment app promises to significantly decrease the administrative burden of cash transactions for schools, and give parents greater control of their spending. And by allowing parents to pay for these items remotely, primary school children are no longer having to carry significant sums of money to and from school – a growing headache for parents everywhere. This technology marks an important step forward for schools everywhere and that the project should act as a template for the kind of mutually-beneficial partnerships that schools can make with private enterprises.

Worldpay Takesover Cobre Bem Tecnologia

Worldpay Group acquired Cobre Bem Tecnologia, giving its customers access to a wide range of payment products. Cobre Bem is a payment service provider that offers single point access to popular local payment methods in Latin America, including eight different credit/debit card types and more than 20 banks for direct online transfers, direct debit and Boleto Bancario. Cobre Bem will continue to operate its current business model, and the existing Cobre Bem management team will join the senior leadership of Worldpay’s eCommerce business unit.

Western Union Reports First Quarter Results

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union 1Q/14 revenues increased 2% compared to the prior year period, or 4% on a constant currency basis. Consumer-to-Consumer (C2C) revenues increased 3%, or 4% constant currency, while transactions increased 9%. Transaction growth continued to benefit from the previously implemented pricing actions in key corridors, as well as strong performance…

VISA Europe Card Not Present

While the U.S. and Canada rack up huge Card-Not-Present (CNP) fraud losses, Europe is much better managed, particularly in the UK. Visa Europe reports that its overall fraud rate is a mere 4.5 basis points (bps) of Gross Transaction Volume (GDV). However, the CNP fraud rate is 10 bps in the UK, compared to 63 bps on France, 27 bps in Germany, 22 bps in Italy and less than 10 bps in the UK.

Vantiv 1Q 2014 Results

Vantiv, Inc. announced financial results for the first quarter ended March 31, 2014. Revenue increased 8% to $537.6 million in the first quarter as compared to $498.0 million in the prior year period. Net revenue increased 6% to $288.5 million in the first quarter as compared to $272.9 million in the prior year period, primarily due to a 6% increase in transactions. On a GAAP basis, net income attributable to Vantiv, Inc. was $28.1 million or $0.18 per diluted share during the first quarter, compared with $26.1 million or $0.18 per diluted share in the prior year period.

SoFi Funds $500,000 in Loans

Social Finance peer-to-peer lending refinanced more than half a billion dollars in student loans, with the number of schools represented having grown nearly 800% to more than 550 universities over the past year. SoFi has streamlined the lending process with a pain-free online application, mobile document upload, and helpful customer service via text, email, or phone. Borrowers can combine their Federal and private loans into a single monthly payment, and customize payment terms to fit their lifestyle. Unlike traditional lenders, SoFi borrowers become members in a powerful community with programs to reach life milestones such as entrepreneurship support, job placement assistance, unemployment protection and exclusive access to new financial products.

MasterPass Lauches in New Zealand

MasterCard announced the New Zealand launch of its ground-breaking digital payments technology MasterPass this week. MasterPass is the digital platform from MasterCard that gives shoppers a seamless, secure and speedy checkout – regardless of where they may be and what device they may be using. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites.