Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups. www.robert-mckinley.com

Green Dot Names New CEO

Green Dot has named Grace Wang CEO, who joins from JP Morgan Chase. Most recently based in London, Wang held the position of Managing Director and Chief Financial Officer of Investor Services Sales for Europe, Middle East and Africa (EMEA) with JP Morgan. Prior to becoming CFO of that division, Ms. Wang held various senior finance and leadership roles at JP Morgan Chase since 2004, including EMEA CFO and Head of International Strategy and Business Development of the Treasury and Securities Services division. She will report to Steve Streit, Chairman, President and Chief Executive Officer and will assume her new role on November 18, 2013. She holds an undergraduate degree and MBA from Harvard University.

American Express Serve Deploys Money Management Capabilities

American Express Serve announced its nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account. It features Direct Deposit, Bill Pay, Mobile Check Capture, Personal Financial Management Tools, and Reserve, which allows customers to put money aside for future expenses. The Free Cash Load Network allows American Express Serve customers to take cash to the register at more than 14,000 participating CVS/pharmacy and 7-Eleven stores and add it to their American Express Serve Account on its own Vanilla Reload Network. The can also add their paycheck or government disbursements directly into their Account through Serve.com and use their smartphone camera to snap a photo of a check and add it directly into their Account using the Serve mobile app. American Express Serve will charge a monthly fee of $1 beginning December 3, 2013.

Fiserv Launches New Mobile Payment Solution

Fiserv launched its “Snap-to-Pay” capability for mbanking and payments solutions. Allowing users to pay bills quickly and easily with a snap of their smartphone cameras, “Snap-to-Pay” captures essential bill information, such as the company to be paid and the amount due, which is then used to automatically populate the appropriate fields on the smartphone screen. Snap-to-Pay leverages mobile imaging technology from Top Image Systems™ (TIS™), which enables mobile devices such as smartphones and tablets to accurately capture information from documents of all types and sizes. Snap-to-Pay allows consumers to set up a new biller to be paid, pay their bill and enroll in electronic bill presentment if they would like to have future bills delivered to their account as e-bills. Users save time and can avoid frustrating input errors because the functionality eliminates the need to tap in large amounts of information on the phone keypad, making bill payment a “snap.”

Net Element and Pay.On Partner on Transaction Services

Net Element International is pleased to announce the launch of “TOT Platform” – a value-added transactional services platform. Launched in partnership with PAY.ON, the world’s leading operator of multi-channel payment infrastructure systems, TOT Platform will be the first offering of its kind in the region and will allow Net Element’s subsidiary TOT Group to offer its client-base innovative solutions in mobile payments and transactional services. TOT Platform is a high-performance transaction processing platform that complies with security standards and requirements applicable to the international payments market. The launch of TOT Platform will enhance TOT Group’s suite of value-added, innovative technologies and services in emerging markets.

Consumer Credit Outstanding Up 5.5% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 5.5% in August from last year to an adjusted $848B from 842.5B, continuing to erase all positive momentum seen in 2013. Continuing to grow, the August revolving credit outstanding is still not as high as the 2008 figure of $1trillion and is…

Cypress Controllers Allow Ezetap to Deliver Integrated mPOS

Cypress Semiconductor announced Ezetap mPOS solutions is using Cypress’s “CapSense Express” controllers in the world’s first capacitive-touch-based PIN-pad in its new MPOS device. The CY8CMBR2016 matrix keypad solution provides the Ezetap MPOS device with a durable user interface, helping it to pass all of the stringent EMVCo and PCI global certifications required for PIN entry devices. Consumer electronics and home appliances have rapidly been transitioning from mechanical buttons to capacitive touch controls. The EMV and PCI certifications are extremely strict due to the need to protect customer PINs against a broad range of attacks, while ensuring compatibility across a range of payment cards. Ezetap was able to go from concept, to certification, to manufacturing in less than a year.

MiiCard Sees Order, Revenue Spike

Online identity proofing service miiCard introduced a number of new customers within the financial services industry across a wide range of applications that collectively demonstrate the continued need and push for trust online. Named customers include Allre, Xpenditure, ClearAccount, Bittylicious, and btcQuick. Announced from the emerging payments and financial services conference Money2020, these new customers highlight miiCard’s ability to prove a consumer’s online identity to the level of an offline photo ID check, purely online and in just minutes. miiCard will verify user identity for new Bitcoin exchanges Bittylicious and btcQuick to the level of Anti-Money Laundering and Know Your Customer standards. As Bitcoin exchanges continue to move more mainstream, identity verification is a critical part of meeting these compliance standards. miiCard confirms identity and certifies official bank statements for a number of next generation banking services, including the ClearAccount overdraft protection service and expense management company Xpenditure.

Early Warning Partners Payfone on Mobile Authentication

Early Warning fraud prevention with its equity investment and commercial agreement through Payfone. Early Warning will now provide carrier-based device and account owner identity authentication combined with unrivaled financial transaction and identity data, ensuring a secure and seamless mobile experience for financial services customers. Mobile devices are becoming a proxy for identity. By integrating with the network-based authentication capabilities of tier one mobile carriers via Payfone, Early Warning will provide a deterministic level of mobile identity that far surpasses traditional and device-centric authentication measures. By leveraging the same SIM card-based network authentication that mobile operators use to secure their own services, Early Warning can verify account logins and financial transactions with more precision and convenience.

Mocapay Announces Latest mCommerce Launch

Mocapay mobile marketing and payments solutions launched customized mobile program for Denver-based Udi’s Cafés and Restaurants. The new Udi’s branded mobile app will allow Udi’s to issue loyalty and reward benefits to its customers. Udi’s is taking advantage of Mocapay’s mobile marketing to keep customers informed and to allow store managers to bring added value to Udi’s guests. The branded app will offer a full range of loyalty and reward benefits such as Udi’s loyalty program; Ability to earn valuable points; Automatic delivery of earned digital currency; Easy and secure redemption of rewards and offers; Ability to view account activity; Locator to pinpoint the closest Udi’s location and the ability to manage and update an account. The loyalty program rewards one point for every one dollar ($1.00) spent. For every 100 points earned the consumer receives a $10 gift card to spend at Udi’s Restaurants.

Digital River Expands PayPal Partnership

Digital River expanded its relationship with PayPal, which also added PayPal Express Checkout and Bill Me Later to its existing PayPal portfolio. The new payments represent the first in a series of PayPal options that Digital River will make available to its commerce customers. These options enhance Digital River’s current payment offering, which today supports more than 40 international and local payment options in more than 170 currencies. Bill Me Later is a PayPal service that enables online shoppers to buy now and pay later. Upon approval, buyers can use this payment option as a secure, instant and reusable credit line. By offering this payment option, Digital River can help its customers streamline the buying experience and increase close ratios by making higher priced products more affordable for an average consumer.

MasterPass Grows Acceptance, Adds Beyond the Rack

MasterCard announced Beyond the Rack, a North American eCommerce fashion, signed on to provide MasterPass digital wallet. Letting users apply any payment card or enabled device to discover enhanced shopping experiences. The new service provides Beyond the Rack’s broad customer base a convenient and flexible way to pay via the web or on a mobile device. Beyond the Rack joins the tens of thousands of retailers in Canada and the US who are enabling a seamless, secure and speedy check out regardless of where consumers may be and what device they may be using. MasterPass is an innovative digital commerce solution that delivers value to both consumers and merchants for its simplicity and security. Available now at www.beyondtherack.com, shoppers can begin using MasterPass, registering their credit card credentials for a simplified and faster checkout experience.