Wonga Payday loans is moving into the online payments market with the acquisition of BillPay. The acquisition of BillPay follows the launch of Wonga’s consumer loans service in Poland and the purchase of an online, short-term consumer credit business in Spain during the past 12 months. BillPay has around two million end-users and works with over 3500 online shops. The business is a key payments partner with a number of the largest e-commerce merchants in Europe – including CBR Group (CECIL and Street One), Runnerspoint, Fahrrad.de, DriveNow and Home24 – across a broad range of segments from travel and fashion to electronics and furniture.
MasterCard announced that Sam Ahmed has been appointed to the role of group head, Marketing, Asia/Pacific, Middle East and Africa, where he will manage marketing teams and ensure brand positioning is executed effectively. He will also oversee the development of strategies and campaigns for MasterCard’s advertising, sponsorships, promotions, as well as digital and consumer marketing initiatives across APMEA. Ahmed most recently served as VP, Marketing & Category at Starbucks Coffee Asia Pacific. Before this he managed the Kraft regional beverage executive team and successfully led the growth in both market share and regional sales of various Asia Pacific beverage brands. Ahmed is a graduate of the Harvard Business School.
CardConnect partnered OnDeck for the underserved market to offer immediate, pre-authorized and transparent funding to the 50,000 U.S. businesses using CardConnect to accept billions of dollars in transactions each year. With OnDeck’s technology platform integrated into CardConnect’s underwriting process, CardConnect merchants have immediate access to both payment processing and small business loans. CardConnect merchants can secure fixed amounts of capital — ranging from $5,000 to $250,000 — for what is typically 50 percent less expensive than a merchant cash advance.
Credit Union ONE has selected the Fiserv DNA account processing platform from Fiserv to increase efficiency and implement its long-term growth strategy. Leaders at the $810 million asset credit union cited the DNA platform’s easy integration, highly configurable feature-set and innovative DNAcreator™ toolkit as key to its decision. Recognized by industry-leading analysts for its technology, user experience and breadth of functionality, DNA from Fiserv is the first open, person-centric core banking platform built for collaboration. DNA was completely rewritten using Microsoft’s leading .NET Framework for a state-of-the-art core platform that banks and credit unions can rely on for the long-term. With DNA, Credit Union ONE benefits from 24/7 real-time processing, robust retail, mortgage and commercial banking capabilities, and a 360 degree view of its retail and business relationships.
Clear2Pay next generation payment solutions announced its M/Chip Advance Test Solution has been analysed and validated by Fime, a renowned EMVCo and MasterCard accredited test laboratory. The Test Suite enables card vendors to save time and money when developing and validating the newest generation of MasterCard payment cards. M/Chip Advance is MasterCard’s latest EMV-based payment platform for traditional debit, credit and prepaid cards facilitating the deployment of contactless applications and enabling applications such as transit and loyalty. Prior to rolling out M/Chip Advance cards, vendors require certification by a MasterCard accredited test laboratory to ensure that their cards are compliant to MasterCard’s M/Chip Advance specifications.
Jack Henry & Associates for financial services organizations announced that its jhaCall Center system can be deployed through a variety of bank-defined outsourced services. jhaCall Center supports a variety of outsourced implementation options provided by U.S.-based call center associates who serve as seamless extensions of a bank’s staff. jhaCall Center Services – The jhaCall Center staff receives and resolves customer calls and inquiries during banks’ regular business hours. jhaCall Center Full Business Services Outsourced – This comprehensive service augments telephone support with jhaCall Center staff qualified to perform operational loan and/or deposit related tasks, ranging from new accounts, file maintenance, transaction processing, and exception handling.
Western Union renewed in France its long-term collaboration for money-transfer services with La Banque Postale, the banking subsidiary of La Poste group, the postal services’ operator in France. Serving more than 10 million active customers in France, La Banque Postale has one of the largest banking networks in the country, and is a key Agent for Western Union in France. Western Union and La Banque Postale have been working together since 1996, offering a variety of innovative products and services for money transfers, serving their customers’ financial needs to transfer money in a fast, convenient and reliable way.
MasterCard and Worldline, Atos subsidiary for e- payment services, announced their partnership on the integration and deployment of MasterPass, the future of digital transactions. This collaboration, which covers all countries operated by Worldline – UK,France, Benelux, Germany, Spain, India and other Asian countries – , paves the way for the adoption of MasterPass by thousands of merchants. MasterPass, the digital platform from MasterCard, simplifies online purchases made from connected devices including PCs, touchpads and smartphones. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites that have the «Buy with MasterPass” button on their check out page. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information, address books and more.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express reported 3Q net income of $1.4 billion, up 9% from the year ago period, while consolidated total revenues net of interest expense were up 6% to $8.3 billion, from $7.9 billion a year ago. The AmEx U.S. Card Services segment posted net income of $782 million, up 12% from…
Payment Alliance International (PAI) retail ATM solutions and Iberiabank announced they have entered into an agreement to brand ATMs in Rite Aid. As in other financial institution branding partnerships, PAI will own and operate the ATM placements, and IBERIABANK cardholders will enjoy surcharge free access for transactions made at IBERIABANK branded ATMs that can be found at select Rite Aid locations. As one of the largest ATM networks in the United States, PAI provides ATM services for over 60,000 retail locations nationwide and has been selected to provide ATM services for approximately 1,500 Rite Aid locations in the western, central, and southern United States.
CardConnect payment processing partnered OnDeck, which efficiently delivers capital to a market underserved by banks. This partnership extends immediate, pre-authorized and transparent funding to the 50,000 U.S. businesses using CardConnect to accept billions of dollars in transactions each year. With OnDeck’s technology platform integrated into CardConnect’s underwriting process, CardConnect merchants have immediate access to both payment processing and small business loans. CardConnect merchants can secure fixed amounts of capital — ranging from $5,000 to $250,000 — for what is typically 50 percent less expensive than a merchant cash advance.
ArgoPay is now allowing merchants to keep more money while rewarding credit card users. In any credit card transaction, at least seven middlemen get between a merchant and their money, sending between 2 and 5 % of purchases to these go-betweens. ArgoPay is disrupting the payment system, eliminating all of these intermediaries with a virtual credit card issued when you download the ArgoPay app. Merchants now get 0% processing fees without the need for any additional dongles or hardware to process payments. They also get instant access to a loyalty program for their best customers and a hassle-free way to send tempting offers to consumers who might become their next loyal customer.