Global processing powerhouse First Data had a busy year with nine contract extensions, a new German contract, and expanded nine partnerships. FDC also introduced three new products: Clover Station, VisionPLUS Flex, and Go Daddy Payment Solutions, plus upgraded a number of existing products. FDC also acquired Perka and took 100% ownership of JV. The Company also had three CEO’s during 2013 and received two major awards. Annual revenues also increased slightly in 2013, after two level years.
While many card issuers are offering special cardholder price discounting – no fees, low interest and balance transfers to raid competitors – while raising the value prop none of these are new initiatives. Given the lowering of outstanding card loans which many have suffered during the recession, nearly $200 Billion total drop off before coming back up, we are surprised only that these and other value strategies weren’t implemented far more aggressively to reboot the card/payments business over the past five or six years.
Accenture has launched a new Mobile Wallet platform that features integrated advanced analytics and big data capabilities, recommendation tools and security elements to provide a robust, modular platform for a trusted digital payments ecosystem that Accenture clients can operate for enhanced customer services.
PayPal and Samsung this afternoon announced a collaboration that will make Samsung Galaxy S5 users the first to be able to login and shop at any merchant that accepts PayPal on mobile and in-stores with only their fingerprint. The new secure, biometric feature means Galaxy S5 users will no longer need to remember passwords or login details across millions of PayPal merchants. PayPal will be the first global payments company to support Samsung’s mobile fingerprint authentication technology.
The U.S. Patent and Trademark Office will formally issue U.S. Patent No. 8,660,955 to PSCU on February 25, 2014 for PSCU’s CardLockTM fraud prevention innovation, which was introduced to the CUSO’s Member-Owner credit unions in 2009. The patent documents categorize the fraud prevention service, CardLock, as a “method and apparatus for consumer-driven protection for payment card transactions.” The CardLock solution works in conjunction with PSCU’s fraud detection and prevention platform and enables cardholders to easily block and unblock authorizations on cards they register with the service. Cardholders can manage the authorization status of their cards through any of three channels – phone, web and mobile.
ROAM has expanded its mPOS solutions to include chip & PIN acceptance with the RP750x mobile card reader . This new cloud-based solution is fully compatible with ROAM’s mobile commerce platform, making ROAM the leading mPOS solution provider supporting new mPOS players with all mobile card acceptance types: magnetic stripe, NFC, chip & sign and chip & PIN. Combining state-of-the-art mobile payments technology from mPOS innovator ROAM with the global EMV expertise of Ingenico, the RP750x is the most flexible and secure chip & PIN device on the market.
Broadcom Corporation introduced the next-generation of near field communication (NFC) controllers designed to deliver simplified connectivity and drive adoption in mass market smartphones and wearables. The new family enables mobile device manufacturers to reduce antenna size by 50 percent and lower overall cost by 35 percent. Broadcom’s BCM20795 NFC family provides original equipment manufacturers (OEMs) with highly integrated, low-power solutions that can be easily incorporated into a wide range of smartphones and tablets. The new controllers reduce power consumption more than 60 percent, use 30 percent fewer components and a 35 percent smaller board area than previous generations. The devices are also compatible with Broadcom’s Wireless Internet Connectivity for Embedded Devices (WICED™) platform.
At Mobile World Congress, MasterCard announced it has entered into an agreement to acquire C-SAM, Inc. (“C-SAM”) a leading provider of mobile wallet and on-device software and services. In acquiring C-SAM, MasterCard will speed the development and deployment of mobile wallets and payment solutions globally, including the rollout of its MasterPass™ digital service. Today’s announcement builds upon a global strategic partnership developed between the two companies in December 2012, as well as a minority investment by MasterCard.
University of North Texas (UNT) alumni have a new way to show their school pride. Commerce Bank is offering a Visa ® credit card with rewards to members of the University of North Texas Alumni Association (UNTAA). The card offers reward points with unlimited earnings, as well as no annual fee. Cardholders are able to redeem points for cash back statement credits, gift cards, merchandise, or travel. Additional features and benefits include $100,000 travel insurance, emergency card replacement and cash advance, 24/7 customer service, Visa Zero Liability coverage, e-statements, and optional auto pay.
MasterCard announced MasterPass™ in-app payments, enabling consumers to make secure purchases within a mobile app. MasterPass in-app payments eliminate the need to store payment card credentials across numerous mobile apps, providing consumers with a fast and simple payment experience. Forbes Digital Commerce, Fat Zebra, MLB Advanced Media, NoQ, Starbucks Australia and Shaw Theatres Singapore are among the first app providers that will power their in-app purchasing capabilities with MasterPass.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index for the U.S. increased 0.3% in January to 99.5 (2004 = 100), following no change in December, and a 0.9 percent increase in November. Continuing to fluctuate on a monthly basis, the LEI six-month average growth rate has been relatively stable in recent months, suggesting…
BlueSnap released BuyNow2, the next generation of hosted checkout pages that make it easy for merchants to sell their products in 180 countries, serving up localized pages in 29 languages, with 60 currencies and 110 payment types on any device. Unlike other payment solutions that place the burden of development on merchants, the pre-configured BuyNow2 checkout provides dynamically localized pages, A/B testing capabilities and instant PCI compliance, helping merchants serve customers and easily convert more shoppers to buyers worldwide.