Wells Fargo has joined American Express’ OptBlue, the new merchant acquiring program that seeks to expand AmEx U.S. card acceptance among small merchants. The addition of Wells Fargo brings the number of participating acquirers in OptBlue to 12, six of which are in the top 10 in the U.S.
IN-based Allied Payment Network, an online and mobile bill payment services specialist, has introduced an online loan payments option for financial institutions. PortalPay seamlessly operates as a landing page within the bank or credit union’s website.
The Bluetooth Connected Card Platform has picked up interest and funding. MI-based Stratos is the developer of the card which combines all plastic cards into a single, smart, and dynamic card.
The nation’s largest drugstore chain is adding a new Western Union stage-and-pay kiosk to streamline the money transfer process. The new service will expand Walgreens Balance Financial platform which already includes a prepaid card.
Digital River’s beanstream and sproutPOS mobile point-of-sale (mPOS) solution will include support for Apple Pay. The mPOS solution will also support magnetic stripe, EMV (chip and PIN) transactions, and contactless credit and debit card payments.
NY-based EVO Payments’ integrated payments division, EVO Snap, has a new marketing services platform that helps omni-channel retailers attract new customers, as well as increase shopping frequency and spend of existing consumers.
CardWeb.com’s CardData financial database projects Citibank’s U.S. bank credit card profits will decline slightly in the third quarter to $549 million. Citibank’s U.S. bank credit card profits rose 27% year-on-year (Y/Y) and retail credit card profits rose 11% Y/Y in the second quarter of 2014 (Q2/14).
After declining over the past five years, Irish payment card Gross Dollar Volume (GDV) is expected to grow at a compound annual growth rate (CAGR) of 3.23% through 2018.
Bank of America (BofA) is starting today to add chip technology on all new and reissued consumer and small business debit cards. BofA has been issuing chip consumer, commercial and corporate credit cards in the U.S. since 2012.
Financial institutions (FIs) will now be able to able to instantly issue a fully personalized, activated physical magstripe or EMV debit or credit card and have the option to also issue a companion virtual payment credential.
American Express Serve and Intuit have teamed to offer consumers a new paperless option for IRS tax refunds. Tax preparers will now be able to issue a new American Express Serve Card as soon as the funds are transferred from the IRS.
MasterCard Peru acquirer, Procesos de Medios, will deploy EMV-capable mobile point of sale (mPOS) terminals from VeriFone, over the next two years.