MasterCard appointed Michael Fiore group executive Global Prepaid Solutions. A ten year veteran with the company, he will lead the ongoing development and execution of the company’s global prepaid strategies. These programs provide individuals, organizations and governments with tools that create more efficient, easier ways to receive, hold and activate money. Fiore replaces Ron Hynes, who recently left MasterCard to pursue a new opportunity. Most recently with Mastercard, Mike led the company’s cross-border remittance, person-to-person payment and disbursement strategies and was instrumental in the acquisition of Orbiscom.
This year approximately 10% of the base of smartphones worldwide will be used to make an in-store payment at least once a month, compared to less than half a percent (led by early adopters in Japan) of about 450 million smartphones in mid-2014.
Boston-based peerTransfer, a provider of global payment solutions for the education industry, has raised more funding. Bain Capital Ventures led the latest round.
Chicago-based Arroweye Solutions has ankled Reiner Vanooteghem as vice president of market development for the financial services industry.
Arroweye is a single-source provider of innovative card marketing and production solutions for the financial service, prepaid and retail industries.
The new PayPal Credit, f/k/a Bill Me Later, is beefing up its credit service to give retailers the ability to decide on the number of months and interest rates best suited for their customers. Additionally, retailers will also be able to choose among interest-free credit options for the first time, for their online customers.
Global Payments has unveiled an advanced security services bundle designed to protect credit card data, prevent counterfeit fraud and enhance payment processing security. The bundle is delivered through the GPN’s OpenEdge integrated payments.
Capital One is gobbling up Level Money, however it will continue as a free, separate app. Since October 2013, more than 700,000 people have downloaded the Level Money app.
Omaha-based Prairie Cloudware nailed two funding rounds last year. The omnichannel digital payments services company also expanded its executive team as well as integral support and the beta availability of its Digital Payments Guardian.
Apriva has inked a new strategic technology partnership with POS on Cloud, a provider of cloud-based POS software-as-a-service (SaaS) supporting the restaurant, retail, and service industry verticals.
The Industry Retail Group (IRG) is implementing Bluefin’s PCI-Validated Point-to-Point Encryption (P2PE) Solutions to its clients. Under the agreement, IRG will provide Bluefin’s P2PE product suite through IRG’s current sales channels.
Stage Stores has implemented with Chase Paymentech point-to-point encryption (P2PE) for nearly 900 stores in the U.S. The neighborhood retailer will conduct payment transactions on Ingenico Telium terminals using Chase’s Safetech encryption, powered by Ingenico Group’s On-Guard technology.
While profits among the world’s largest payment card networks rose 4.4% in the third quarter (Q3/14), the figure for the fourth quarter will be relatively flat in the fourth quarter (Q4/14), compared to one year ago. During 2015, profits will near $5.0 billion in Q2/15 or Q3/15.