Culver City, CA-based Lootsie, a startup loyalty and rewards platform for mobile apps, has snagged $3.5 million in seed funding. Since launching in 2012, the company has partnered with major retailers, brands and developers including SOL REPUBLIC, Manduka, Sevenlogics and All Shook Apps.
Miami-based Net Element’s Aptito released version 2.3 of its cloud-based mPOS platform. Aptito’s all-in-one restaurant and bar POS and business management software gives restaurants the tools to reduce payroll costs, improve efficiency, and increase customer satisfaction.
U.S. credit card outstandings, among the Big 6 credit card issuers, rose a measly 2.3% year-on-year (Y/Y) for the fourth quarter to $486.8 billion. American Express (AXP) and Capital One (COF) lead the pack with 7.2% and 6.0% increases, respectively.
There is little doubt Apple Pay has set the stage for mobile payments as iPhone unit sales hit 74.5 million in the fourth quarter. Apple Pay currently accounts for two out of every three dollars spent in contactless payments over the top three payment networks.
MN-based TCF Bank announced the availability of Apple Pay for its debit and credit cards. TCF has 382 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services.
Disruptive new technology or business models in the payments industry are now kicking serious butt. A new report says social media and mobile messaging application providers have turned everything upside down.
Atlanta-based Sionic Mobile has reached 50,000 diverse shops, restaurants and retail locations nationwide where consumers can pay with a Sionic Mobile app on their smartphones and tablets. And there is more in the works.
Consumers now making Western Union transactions at kiosks in over 7,600 Walgreens and Duane Reade locations nationwide also have the ability to utilize the Apple Pay service.
Austin-based Mozido has ankled Ron Hynes, the former executive vice president of global prepaid solutions at MasterCard Worldwide, as President Global Markets.
Barclaycard US is going all out to capture the Super Bowl fever with its NFL Extra Points Visa credit card. The exclusive card is offering free Super Bowl tickets and access to NFL experiences.
London-based Tuxedo Money Solutions and Silicon Valley-based i2c have signed a processing agreement for the global prepaid and emerging payments sectors.
By 2020, global mobile biometric market revenues will reach $33.3 billion annually. This includes 4.76 billion biometrically enabled smart mobile devices generating $6 billion in biometric sensor revenue, 4 billion biometric app downloads generating $20 billion in annual revenues from direct purchase and software development fees, and 825 billion biometrically secured payment and non-payment transactions generating $6.8 billion in authentication fees.