FIS banking and payments technology is set to showcase at the BAI Retail Delivery Conference its Mobile Wallet with Cardless Cash Access. This allows users to not only pay using their smart phones, but also withdraw money from an ATM from a mobile device. It also will showcase its newest touch-enabled customer interaction solution, FIS TouchPoint Connect suite, integrated with the Microsoft platform to offer best-in-class, branch of the future capabilities that help financial institutions bridge the gap between the traditional branch and the evolving branch model. TouchPoint Connect’s highly intuitive, touch-enabled interface brings a new dimension to the branch with its customer facing user interface that can be deployed as a kiosk or tablet solution. After authenticating the customer via an ATM/Debit card, online banking ID, or QR code, TouchPoint Connect enables customers to view account summary and detailed account information, receive and act on targeted offers, and perform self-service functions such as check orders, address change, funds transfer, lost card, and stop payments.
FIS released a comprehensive banking behavior study showing consumers who transfer money person-to-person want to make those transactions immediate; and, while young consumers are more likely to be among the early adopters of real-time payments, most importantly, they want the process to be convenient and easily accessible. Conducted Ipsos Vantis, on behalf of FIS, the market research indicated consumer sentiments and potential economic value for banks that instantly authorize transactions in four key market groups: outbound foreign money transfer users, account-to-account (A2A) transfer users, person-to-person (P2P) payment users and online bill payers. Faster payment was rated as being important by 80 percent of outbound foreign money transfer users, because it provides both senders and recipients with peace of mind. The majority (58 percent) of A2A users also want to be able to transfer their money between accounts quickly and a large percentage (41 percent) of P2P users want recipients to be able to access funds immediately. Potential adopters of outbound foreign money transfer and P2P real-time payments most often want to use real-time applications to send money — as gifts, payments, for emergencies and more — to family members and friends.
Green Dot and Walmart announced have expanded the line of Walmart MoneyCard reloadable prepaid debit cards to include six new card types designed to meet the needs of their growing customer base. The Walmart prepaid debit card portfolio now includes nine cards and include Mobile Web Registration; Check Cashing Reloads Account Alerts; Gas Discounts; Pharmacy Discounts; Merchant Funded Offers; Purchase Protection / Assurance (Visa and MasterCard); and Walmart MoneyCard Portfolio.
Cardlytics Card-Linked Marketing will be launching its successful advertising platform with Lloyds Bank, part of the U.K. and Europe’s largest retail bank. This launch follows the September introduction of the Cardlytics service with Halifax, another Lloyds Banking group retail bank brand. Lloyds Banking Group operates in the U.K. under several retail banking brands, including Halifax, Lloyds TSB, and Bank of Scotland. Lloyds has over 30 million customers, and is the U.K.’s leading provider of checking and savings accounts, personal loans, credit cards and mortgages.
ElectraCard Services (ECS), a leading provider of software and processing solutions for electronic payment systems announced the go-live of Islami Bank Bangladesh Limited (IBBL), with the new electra iTx series suite. ECS ensured that the migration of debit cards and ATMs from legacy platform onto the electra platform was executed in a span of only 4 weeks — making this one of the fastest EFT switch migration. The electra iTx series platform is a next generation PA-DSS certified secure transaction platform, built from the ground-up on open standards and industry best-practices to support the service oriented architectures (SOA) that are fast becoming the technology backbone of today’s leading organizations. This is a game changing technology that allows the user to control their application and EFT environment. It also helps to reduce the time to market for integration and to roll out new services.
European Payment Services Ltd., (EPS) has become the first entity in the world to validate its point-to-point encryption solution as having met the rigorous controls defined in the PCI Security Standards Council P2PE Standard for the protection of payment card data. The company can now offer its merchants a P2PE-validated solution for their credit card processing environments, enabling merchants to choose the Self-Assessment Questionnaire (SAQ) P2PE-HW. EPS’s Total Care is a compelling service managed solution, which can enable merchants to meet the significant challenges of achieving and maintaining PCI Data Security Standard (DSS) compliance, whilst saving significant costs across the business. It genuinely allows merchants to accept any payment card in any country in any currency via any acquirer, and reduces the PCI DSS scope of their cardholder data environments.
BS Mobile now allows you to make credit card collections without any additional software or hardware. It is a supplementary utility launched in conjunction with Ingenico this year. The bank strengthens its position as the leading financial entity in mobile banking. Banco Sabadell has included in its mobile banking service (BS Mobile) a utility that allows any user of the service to make collections from any credit or debit card. In practice, this means that BS Mobile transforms any smartphone, into a fully functional POS without needing any additional software or hardware to place at the disposal of its users the mobile banking service of the bank.
The Swiss banks have decided to promote the e-bill and to combine it with a new direct debit solution by 2016. SIX Payment Services has been mandated to align the new direct debit solution with the automated e-billing processes and to replace the existing LSV+ and BDD procedures. The e-billing functionality shall be improved and upgraded at the same time. The solution offers advantages for billers; debtors will basically be unaffected by the switchover. E-bills and direct debits will now be combined in one system with a common interface, which offers the greatest possible advantages for billers. For example, as of 2016, billers will receive direct debit registrations and cancellations electronically, as they are accustomed to with e-billing. The e-billing service offer will be further improved and upgraded, which will benefit billers and their customers alike.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union posted 3Q/13 revenues down 1% from the year ago period and were flat on a constant currency basis. Consumer-to-consumer (C2C) revenues declined 2%, or 1% constant currency, as transaction gains were offset by the impact of previously implemented price reductions in certain corridors. Western Union branded C2C transactions increased…
WorldPay US payments acquirer has earned the American Express EMV payment processing certification.In conjunction with the earlier completion of VISA and MasterCard EMV certification, this reinforces WorldPay’s ability to assist its current and prospective clients with the inevitable migration to chip cards in the US. The card payment networks establish individual requirements for EMV implementation and define the testing processes to certify against these requirements. WorldPay is working closely with Discover on certifying to their EMV requirements.
U.S. Bank announced the full market launch of its Travel VirtualPay product, following a successful pilot program. The bank is the first payment provider in North America to deliver a truly integrated travel payment and reconciliation tool that replaces manual central billing of hotel charges with single-use virtual account numbers. Travel managers can identify and track a booking from the time of reservation through final settlement and audit. The tool integrates directly with their current travel supplier or agency, allowing them to easily request a virtual account for each booking and consolidating all transaction data into one location. When a supplier charges the account, an automated reconciliation process accurately matches traveler and transaction, triggering immediate payment.
First Data ecommerce and payment processing acquired Perka smart loyalty program for undisclosed terms. The First Data subsidiary continues to operate autonomously as an innovative entrepreneurial company led by its current management and product development team. Perka is a mobile marketing and consumer loyalty platform that helps small to medium-sized merchants engage their customers with location-based smartphone apps. The Perka Punchcard service and Perka Flexpoints for retail stores and sit-down restaurants deliver sustainable and highly personal marketing and incentive programs to consumers. The cloud-hosted platform features merchant-validated transactions, triggered offers, mobile messaging, and retail customer relationship data for the merchant.