The Sacramento Kings announced they will become the first major professional sports franchise to accept Bitcoin, a popular online currency. The bitcoin purchases will be processed through BitPay. Since purchasing the Kings earlier this year, majority team owner Vivek Ranadivé has directed a business philosophy coined “NBA 3.0,” which focuses on investments in technology, globalization and deep community partnerships. The BitPay relationship marks another manifestation of the 3.0 philosophy in Sacramento.
Omanye Money whose services are largely targeted at the unbanked and under-banked world-wide, has announced the introduction of international mobile money transfer to bank accounts in Nigeria and Ghana. Their customers can now send money from the Omanye mobile site and website wherever they are in the world and users of the eTranzact Mobile Money mobile service (pocketmoni) in Nigeria now have the option of receiving international transfers from Omanye Money customers all over the world.
For the first time in Canadian eCommerce history, the online share of retail sales totaled 7.8% for the month of December according to MasterCard SpendingPulse, a macro-economic report that leverages purchase information across all forms of payment – credit cards, cash and cheque – to offer detailed insight into consumer spending trends. The eCommerce channel showed a 22.2% month-over-month increase in December, representing the 54th consecutive month of positive year-over-year growth for the channel. Total Canadian retail growth was steady but slow, posting a year-over-year growth of 2.3% and demonstrating the strength of eCommerce retail growth. The price index also declined significantly due to deep promotions during the holidays.
Payments volume for Diners Club International declined 7.7% year-on-year and 4.6% sequentially in the third quarter to $6.5 billion. Acquired by Discover Financial Services in July 2008, the international card has consistently hovered between $6.5 billion and $7.0 billion in quarterly payments volume. In 2009 Discover and its franchises launched a major marketing initiative to revitalize the brand. Since acquiring the Diners Club, Discover has been aggressively expanding acceptance.
Pensio, the Danish payment management specialist, and leading global fraud prevention provider ReD, have announced a new partnership that is offering an integrated, tailored fraud screening solution to Pensio’s broad range of merchant customers. The first merchant to take advantage of the integrated service is progressive retailer LN-CC. David Hobson, ecommerce Director at LN-CC said, “As we expand our global online presence, it’s vital that we have the right fraud detection in place to protect our business. By working with Pensio and ReD we achieve that for every type of payment instrument.”
Citigroup reported today a 4Q profit for 2013 at double that of its 4Q profit of 2012. Net Income was at $2.7 billion on revenues of $17.8 billion for 4Q/2013 compared to net income of $1.2 billion on revenues of $17.9 billion for 4Q/2012. CVA/DVA was a negative $164 million ($100 million after-tax) in the fourth quarter, mainly resulting from the improvement in Citigroup’s credit spreads, compared to negative $485 million ($301 million after-tax) in the prior year period. Excluding CVA/DVA, fourth quarter revenues were $17.9 billion, down 2% from the prior year period. Fourth quarter 2013 results also included a $189 million after-tax benefit related to the divestiture of Citi’s Credicard business in Brazil, while results in the prior year period included a $1.0 billion repositioning charge ($653 million after-tax). Excluding CVA/DVA, the impact of the Credicard divestiture in the fourth quarter 2013 and the fourth quarter 2012 repositioning charge,6 earnings were $0.82 per diluted share, up 19% from the prior year period.
Visa has decided to no longer provide financial metrics for marketing expense, capital expenditures and tax rate for fiscal full-year 2014. However, for fiscal full-year 2014 Visa did provide financial metrics on net revenue growth and client incentives as a percent of gross income. Visa expects annual net revenue growth to be in the low double-digits on a constant dollar basis, with an expectation of two percentage points of negative foreign currency impact for fiscal full-year 2014.
Computop PSP made available its Computop Paygate 6.0. This latest version of the company’s multichannel global payment platform offers new features and functionality that make it even easier and faster for merchants to conduct business both domestically and internationally, and is fully SEPA enabled in preparation for the pan-European payment harmonization initiative due to go live in February and August 2014. The release of Computop Paygate 6.0 extends yet further the choice of international and domestic alternative payment and processing methods available to support consumer preferences. Paygate 6.0 sees Computop significantly extend its local market presence in a number of key global territories.
Kofax smart process applications made available its Mobile Capture Platform, which dramatically transforms how businesses can extend capture capabilities to their mobile customers. The Company also launched two new frameworks for mobile bill pay and mobile check deposit apps, which are built using the platform and can be easily customized to meet an organization’s unique branding and other requirements. The new Kofax Mobile Capture Platform enables organizations to rapidly develop and deploy any number of mobile apps on a single platform that uses Kofax’s patented and market-leading image capture and perfection, real time data extraction and validation and analytics capabilities. Using this platform, organizations can speed time to market with mobile apps, achieve substantial cost savings, make better informed decisions to drive incremental revenue and free themselves of the undesirable vendor dependencies associated with alternative approaches.
Net Element mpayment and value-added transactional services announced Aptito cloud-based POS payments platform is now Visa-Ready for their mPOS solution. Aptito helps restaurants drive consumer engagement via tablet, mobile and all other cloud-connected devices. Aptito’s mPOS system provides hospitality merchants with tools to increase sales, productivity, and customer loyalty. The solution is a tablet-based POS that combines traditional POS functionality with mobile ordering, payments, social media, intelligent offers, mobile applications, loyalty, and transactional data all in one solution supported by Aptito’s cloud-based payments platform. Restaurants can leverage Aptito to plug into social networks, daily deal promotions and other marketing programs while having the ability to use Aptito’s integrated mobile marketing tools to deploy their own lead generation campaigns and loyalty rewards.
PayPal APAC is delivering great online consumer shopping experiences with the launch of mo.bi.pay, an innovative mobile payments solution developed for small-to-medium businesses (SMBs). Mo.bi.pay (mobile built-in payments) is a mobile plug-in solution developed for merchants using shopping carts on their platforms. Developed by the Vertical Solutions team in Singapore, the plug-in allows SMBs to easily customize their websites for mobile shopping without any impact to existing sites.Mo.bi.pay incorporates PayPal’s mobile best practices so the customer can pay quickly, easily and securely from his or her mobile device – while potentially reducing shopping cart abandonment and increasing a merchant’s sales.
INSIDE Secure today announced it has upgraded its SafeZone FIPS software cryptographic module to improve security for a broad array of smart connected devices. INSIDE’s enhanced SafeZone cryptographic software enables developers for the first time to build FIPS 140-2 certified applications for Trusted Execution Environments (TEE) based on ARM TrustZone® frameworks. A TEE isolates sensitive operations on smart connected devices from the standard, general-purpose, operating system, providing a safer execution environment for these applications to run within. TEEs have already been deployed in more than 100 million devices, and many popular smartphones now incorporate TEE technology.