U.S. Bank has fully converted its fleet of nearly 5,000 U.S. Bank ATMs to the Windows 7 operating system. U.S. Bank is one of the first major banks to complete the conversion of its entire ATM fleet. Other ATM owners in the industry have announced that they plan to purchase extended support from Microsoft while they complete their conversion. U.S. Bank chose to upgrade the operating systems on its entire fleet by the April 2014 deadline as part of an overall strategy that included updates to meet new technology enhancements such as ATM deposit automation, compliance with enhanced accessibility rules from the Americans with Disabilities Act (ADA) and replacement of older ATMs in the fleet. Today, the average age of a U.S. Bank ATM is five years.
Discover partnered with the National Hockey League (NHL®) today to surprise members of the Midshipmen with the Stanley Cup®, the most revered trophy in professional sports. The Midshipmen, who finished this season at 29-7-2 and ranked eighth nationally, were treated to a celebratory reception this afternoon at McMullen Arena in the Brigade Sports Complex. Navy hockey team members, who were holding an informal scrimmage at the arena, were treated to a surprise visit from the Stanley Cup. The surprise did not end there, as players from the Navy Youth Hockey league, along with their families, were invited to the arena to join the celebration where pizza and beverages were served and the Navy youth hockey players had the chance to skate with some of the Midshipmen players. Unbeknownst to them, they too would be getting a visit with the Stanley Cup.
RewardsNOW loyalty programs launched loyalty programs for three new clients during the first quarter of this year, a variety of new loyalty programs now being implemented, whether it is a brand new program for a financial institution, an upgrade and conversion of an existing program, or a tailored retailer and wholesaler program. In partnership with CO-OP Financial Services, RewardsNOW worked with Michigan Community Credit Union. Additional partnerships were made with Sterling United Federal Credit Union and Tri-State Dental Supply.
As the United States credit card industry is turning towards EMV enabled cards, merchants will have to upgrade their terminals in order to be able to process retail payments. While most merchants currently still use MSR credit card processing equipment, MagicPay Merchant Services, a South Florida-based company, is now offering EMV equipment for free to its merchants. The offer will make it convenient and priceless for current and new merchants to upgrade to the new EMV chip technology. The merchant services industry is being evolved every day with new technology, regulations, and security measures in order to protect card holders and decrease fraud. While countries like Canada has adopted EMV technology long ago, the United States is still behind and plans officially to launch EMV as a requirement for all merchants (except fuel dispensers) by October, 2015.
Merchants and service providers can now download hundreds of high-quality PCI policy templates from the undisputed global leader at pcipolicyportal.com. Since 2009, pcipolicyportal.com has been assisting companies all throughout the word, from Cape Town, South Africa to Charleston, South Carolina, so turn to the trusted experts today for industry leading PCI policy templates.
Fime payments consultancy launched a customized consulting offer to help US payment card issuers and acquirers accelerate their move to secure EMV chip payments.Designed specifically for the unique and complex U.S. payments industry, FIME’s EMV chip consulting packages can ensure successful, cost-effective and efficient migrations for organizations of any size and at any stage of implementation. FIME has extensive experience consulting issuers and acquirers on global EMV chip implementations from initial education through to successful implementation.
Ingenico announced the opening of a new branch office in Morocco. This new office is part of the company’s geographic expansion strategy which seeks to closely answer customers and partners needs to optimize its level of service on each continent. Ingenico will continue to deliver more advanced and innovative solutions answering needs of all types of customers, such as banks, micro finance institutions, retailers, ID & Gov, vertical market and PSP’s.
The net interest margin (NIM) for major U.S. credit card portfolios has been edging down since mid-year 2013, according to CardData. Capital One, the NIM leader among major U.S. issuers, posted a 35 basis point decline in NIM for the first quarter. Capital One’s U.S. NIM for 2013 was 13.1%. Citibank’s NIM declined 31 basis points in the first quarter for its domestic card portfolio. Citibank’s NIM for 2013 was 9.7%. The Chase NIM for U.S. cards dropped 12 basis points in the first quarter. Chase’s NIM for last year was 9.7%. Meanwhile, American Express’ U.S. NIM was flat in the first three months of this year. For 2013 the AmEx U.S. NIM was 8.9%. The Discover NIM for 2013 was 10.1%, the second highest among the top issuers. Discover will be releasing its first quarter report next week.
American Express today announced its full service reloadable prepaid Account, American Express Serve, will be available for purchase at 4,100 Walmart stores nationwide. These Walmart stores will also become a part of Serve’s free cash reloading network. This means Serve customers can now add cash to their Account for free across 19,500 U.S. Walmart, CVS/pharmacy®, and participating 7-ELEVEN® locations.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fifth Third Bancorp reported first quarter 2014 net income of $318 million versus net income of $402 million in the fourth quarter of 2013 and $422 million in the first quarter of 2013. Net income available to common shareholders was $309 million compared with $383 million in 1Q/13, and $413 million…
Issuance of the Russian Discover card has been underway for more than a month. The card, a partnership between Russian Standard Bank and Discover Financial Services, was announced in September. The new card offers cashback bonus for purchases made in certain merchant categories, similar to the U.S. Discover card.
Domino’s Pizza is adding even more convenience to its customer experience by integrating Google Wallet with its Android ordering app. Domino’s customers who have an Android device can now pay for their online orders using Google’s digital wallet. Domino’s customers who place an online order of $10 or more using the Android ordering app and pay by selecting the “Buy with Google” button at checkout will receive a free order of Domino’s new Specialty Chicken, now through June 15.