BofA lowers costs for low-value cross-currency payments. The new CashPro Payments service allows companies to make recurring low-value cross-currency payments that are either business-to-business or business-to-consumer.
Fundtech launched Mobilescape VX, a device upgrade for its Mobilescape wireless card processing solution. The hardware combines Verifone’s VX 680 POS hardware with Fundtech’s software, transaction processing, wireless service, and customer support. The new handheld terminals include a color touch screen and an ARM11 processor, as well as compatibility with the web-based Mobilescape Manager platform. Mobilescape VX provides U.S. businesses with traveling sales personnel the capability to accept card payments from anywhere via a small, portable device that is compatible with the AT&T cellular network.
Visa moves 500 employees to downtown San Francisco to hobnob with payment innovators. The centerpiece of One Market will be an innovation center designed to provide an immersive experience for clients and partners, where they can interact with Visa subject-matter experts, and explore new products and technologies that advance the payment experience in areas such as mobile, security and cloud-based technologies.
Forrester’s Mobile Banking Functionality Benchmark methodology finds foreign banks outpacing U.S. banks. Garanti Bank of Turkey took the top spot. The bank received the highest overall score among the banks Forrester rated, performing exceptionally well with its new mobile banking app iGaranti.
Alliance Data Systems private label credit card loans soared double digits in the second quarter. The ADS Epsilon unit was up 8% year-on-year. The ADS LoyaltyOne segment now consists of the AIR MILES Reward Program in Canada, the recently acquired BrandLoyalty, which operates primarily in Europe and a new JV with dotz in Brazil.
Wells Fargo takes its Commercial Card Expenses Reporting service to a new level with a new app. The new Wells Fargo CEO Mobile app enables users to upload paper receipts for processing and reimbursement by simply snapping their photos.
Allied Wallet payment gateway, has been selected for the 2013 United States Excellence Award by the US Trade & Commerce Research Institute (USTCRI). This is because Allied Wallet LTD has consistently demonstrated a high regard for upholding business ethics and company values. This recognition by USTCRI marks a significant achievement as Allied Wallet continues to emerge as a leader in its industry. By setting new benchmarks and forming new standards for security and functionality, Allied Wallet is able to provide a better solution for its merchant base.As part of the industry research and business surveys, various sources of information were gathered and analyzed to choose the selected companies in each category. This research is part of an exhaustive process that encapsulates a year long immersion in the business climate of the United States economy.
Happy Belly Curbside Kitchen serves fresh, organic and local cuisine to Atlanta-area customers from its lime-green food trucks. They have implemented the NCR Silver mobile point-of-sale to help grow its “farm to street” business. The NCR solution is iPad based for small businesses. NCR Silver tablet POS runs in the cloud, uses consumer-friendly technology, and works on Apple devices running the latest iOS.
Heartland Payments Systems expands into the parking services industry with a major SP+ deal. Heartland is now the largest third party payment network provider in the parking industry. SP+ manages more than 4,200 parking facilities containing approximately 2.1 million parking spaces in hundreds of cities across the U.S. and Canada.
Cardtronics will acquire Welch ATM for $160 million. The combined company will support a global portfolio of 109,600 ATMs, including 92,500 conveniently located retail ATMs in the United States. The combination of Cardtronics and Welch ATM will bring together two top-performing retail ATM services providers, with complementary customer bases and sales capabilities. Cardtronics has demonstrated success placing ATMs with national chain retailers and forming ATM branding relationships with national and international financial institutions. Welch ATM has established its core strength around delivering ATM services to mid-market retailers and ATM branding to mid-tier banks and credit unions. The combined business will be positioned to accelerate revenue growth, achieve cost synergies, create additional value for its retailer and financial institution customers, and drive shareholder value. Welch ATM is a nationwide retail ATM and financial technology services provider, with more than 26,000 ATMs under its management.
Robert Selander joins the Western Union Board. Selander was CEO of MasterCard Incorporated and MasterCard International from April 1997 until July 2010. Before joining MasterCard in 1994, Mr. Selander spent two decades with Citicorp and Citibank.
ACI bolstered its Universal Payments (UP) strategy, delivering an unrivaled merchant retail solution to combat fraud. With its acquisition of Retail Decisions (ReD), announced earlier today, ACI strengthens its leadership position in the fast-growing payments risk management space.Securing payments and protecting both customers and their brand reputations”across all channels”is a daunting and complex task. The sense of urgency in addressing security issues is exacerbated in the U.S. where the rollout of EMV is expected to drive more fraud into the online channel as it has in other markets and regions. CNP (card not present) transactions, which are seen often in ecommerce, are not protected by EMV, and will likely experience an increase in fraud. ReD brings immediate value to ACI’s current fraud portfolio with its consortium models, business intelligence offerings, extensive modeling/analytics capabilities, risk analyst expertise and data center footprint. Conversely, ACI brings to ReD customers a strong set of complementary products, greater reach, and, most importantly, UP technology, which no other payments risk management vendor can offer.