Square announced three new ways for sellers to drive more customers to their business and simplify their operations. Square Register is a powerful service offering sellers of all sizes and kinds easy, yet sophisticated technology for creating the best customer experiences and running their business.Research shows that food and beverage is the second most popular category among purchases made on smartphones. And studies show that more people are preferring to use their smartphones to pay for their purchases. Square is helping local business owners match these trends and connect with customers.The new pickup feature on Square Market integrates perfectly with Square Register so sellers can fulfill customer orders in-person and online. Now sellers can run their rush hours efficiently and provide a better customer experience. The pickup feature is available to all sellers at a competitive 8% processing fee per order with an introductory offer at 2.75% through July 1, 2014. Consistent with all of Square’s tools, access and setup are free, and sellers receive payment the next business day.
On Track Innovations NFC and cashless payment solutions, has expanded the capabilities of the 84 transit ticket vending machines operated by its electronic ticket systems subsidiary, ASEC S.A. Integrated oti NFC contactless card readers now allow travelers and commuters to easily use any NFC-enabled credit/debit card or mobile device to recharge their pre-paid phone cards issued by Mobile Network Operators (MNO) in Poland. Currently supported pre-paid cards include those issued by T-Mobile, Heyah, Play, Plus, Orange, NJU Mobile and Lycamobile. The machines accept traditional credit/debit card and cash payments and will also support oti’s new WAVE device that makes any mobile device NFC-capable. The ASEC automated ticketing network has enabled more than 62 million trips on the Mazovia Railway. Revenues generated from this new capability for refilling pre-paid phone cards are included in the estimated $4.7 million transaction fees revenues for the Mazovia Railway System over five years as was announced by oti in April 2013.
Monitise announced Tom Houghton has been appointed as a Non-Executive Director. Visa Europe’s new nominated director to the Board of Monitise, Tom heads the Core Payments division of the business. He joined Visa in 2011 as its Head of Processing, which accounts for 35% percent of the business’ overall revenue. Tom has spent a lifetime working in the payments industry, starting out in the retail sector. He worked for a major US merchant retailer running development and deployment for in-store point-of-sale systems, merchandising, inventory, and distribution applications. He then moved to electronic payments group ACI Worldwide, where he spent 21 years in a variety of roles in both North America and Europe, leading product management, product development, customer support, sales and services divisions.
hyperWALLET global payment solutions, announced the availability of new low-cost direct-to-bank payment services in Malaysia and Chile. Many global corporations are active in these rapidly growing economies and need to pay people locally in a cost-effective and timely manner. hyperWALLET has addressed this problem by enabling fully-compliant direct-to-bank transfers in both countries in local currency, within 2-3 business days. Powered by hyperWALLET’s global payment platform and extensive financial networks, corporations can easily make mass payouts while providing payees with flexible in-country payment options. hyperWALLET also enables payees to receive payments on brandable prepaid debit cards, or as cash at any Western Union agent location across both Malaysia and Chile.
Capital One’s (COF) international credit card business profits have been weak over the past year, falling by 1.5% from first quarter 2013 and 1.1% since the fourth quarter of last year. However, the net revenue margin for international cards has increased by 37 basis points since the first quarter of 2013.
Today Target Corp. announced the company has hired a new technology leader to help guide the company’s information technology transformation. Target also provided details on additional security enhancements the company has made following its 2013 data breach, and shared plans to incorporate MasterCard chip-and-PIN technology across its REDcard portfolio.
VeriFone Systems, Inc. and First Data Corporation announced today the launch of the VeriFone edition of the First Data® TransArmor™ solution for U.S. multi-lane and petroleum merchants. The TransArmor, VeriFone edition, is an end-to-end encryption and tokenization solution that is a result of a partnership between VeriFone and First Data to address retailers’ need for enhanced payment security.
ACI Worldwide announced the availability of its EMV lifecycle management solution, ACI UP Token Manager, as a Software as a Service (SaaS) offering for US debit issuers. ACI is the first vendor to offer a SaaS-based EMV lifecycle management solution, which comes on the heels of the US debit industry recently banding together on EMV deployment decisions, particularly for debit issuers. A SaaS-based EMV lifecycle management solution will enable issuers to dynamically modify and configure parameters for customers, enabling differentiation in the marketplace. ACI’s flexible new solution offers rich business functionality, delivering peace of mind to issuers by providing the benefits of an in-house deployment for data preparation. Unlike typical outsourced offerings, this cost-effective solution provides considerable value added services, such as online access to card, chip and application data for customer support as well as the ability to provide card supplier independence.
Viableware, innovators of the RAIL today unveiled an updated version of its RAIL payment device that accommodates for the use of EMV smart card payments. The enhanced RAIL device is engineered to accept any chip-based payment card from the table and securely communicate with the leading restaurant POS systems – including MICROS, NCR Aloha, Squirrel and Dinerware – strengthening customer security and mitigating restaurant liability for credit card fraud.
Discover Financial Services is on InformationWeek Elite 100 — a list of the top business technology innovators in the U.S. Discover made the list by developing a new application that provides a fully comprehensive, customer-centric view and supplies account managers with better data and up-to-the-minute information, allowing them to provide superior customer service. Unique among corporate rankings, the InformationWeek Elite 100 spotlights the power of business technology innovation. The InformationWeek Elite 100 research tracks the technology-based investments, strategies, and results of some of the best-known organizations in the country.
Virtual Piggy, Inc. (OTCQB: VPIG), provider of innovative safe payment technology, Oink, announced the appointment of Trent Walker to Senior Leader in the role VP Business Development – Key Accounts. Trent Walker brings over ten years of payments and finance industry expertise, working with many of the world’s leading corporations, including Google and Facebook. For the past six years, Mr. Walker has held strategic leadership roles within the financial services department at Arvato, the $6 billion per year division of Bertlesmann. Oink is the only payment technology designed to allow retailers and game publishers to reach under 21 consumers in a safe, legal, and effective manner compliant with the FTC and other international regulations. This innovative technology serves as a digital family wallet that is available online or via mobile and allows safe, secure transactions – all within parental controls.
Payment Alliance International ATM and electronic payment processing announced global sponsorship of the ATM Industry Association (ATMIA). ATMIA is an independent, non-profit trade association whose mission is to promote ATM convenience, growth and usage worldwide; protect the ATM industry’s assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. PAI is one of the largest ATM deployers in North America with more than 65,000 locations in the PAI Alliance Network. Uniquely positioned in the payments marketplace, PAI offers custom ATM programs and services for retailers and financial institutions including ATM cash management and branding solutions, as well as a variety of electronic payment options.