The first Bitcoin ATM “Bitcoin Bodega” opens on the Las Vegas strip by Coin Cloud. The Bitcoin Bodega highlights a recent trend in bitcoin tourism, providing digital currency enthusiasts with a quick, easy and safe means to buy or sell bitcoin. Coin Cloud provides consumers convenient access to bitcoin, allowing customers to store money on the blockchain and access it with ease.
American Express posts a 9% year-on-year growth in the second quarter cardholder volume, but profits rise in the U.S. by only 4% due to higher marketing and promotion costs along with rising cardholder rewards expenses. Overall, AmEx net income rose 9% to $1.529 billion, compared to $1.405 billion one-year ago.
The bank credit card business is back, now humming on all cylinders after going through a terrible 2009 and 2010 with massive losses. Chase Card Services, the biggest U.S. player, posted Q2 net revenue as a percentage of average loans of 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.
American Express Global Business Travel (“GBT”) today announced new servicing and technology tools and platforms that foster stronger connections and enable smarter communications with travelers and travel managers. Central to these solutions is GBT’s focus on interacting with business travelers when and how they want to be reached, and ensuring a seamless experience from trip planning and booking to traveler care in the case of a disruption. The solutions announced today include the launch of First from American Express Global Business Travel and major enhancements to GBT’s existing A X CONNECT product and TripCase integration. Firstfrom American Express Global Business Travel is a new solution for road warriors and executive travelers that provides them the end-to-end experience they deserve – from personalized business trip planning, to continuous monitoring and anticipation of traveler needs, to proactive care while on the road.
The bedrock of First is the elite team of expert travel counselors and the next-generation technology behind them. These travel experts go above and beyond simply selecting the right airline seat or meal preference. They are virtually alongside the traveler, 24/7. First travel counselors are empowered to advocate and immediately resolve issues on the traveler’s behalf, utilizing strong supplier relationships and the latest travel disruption notification technology to help ensure a comfortable, productive, and safe trip. They are committed to finding solutions that remove travel obstacles and ensure a traveler can maximize productivity while on the road.
A comprehensive report of 12,000 consumers and profiles of several campus prepaid cards including BlackboardPay, Fifth Third Mastercard Prepaid Campus Card, Heartland ECSI Acceluraid Prepaid Discover Card and U.S. Bank Contour Card all show prepaid is emerging big time on campus as opposed to easy credit cards.
ACI Worldwide announced that Ohio-based Franklin University has selected ACI to power its online payments. Franklin University wanted a proven payment provider with technology that required no additional programming to integrate with the University’s ERP system. It also wanted technology that provided a low total cost of ownership. ACI’s electronic payment solutions and integrated strategic partnerships with wide-ranging ERP providers made it the ideal payment partner for the University.ACI is a market leader in providing electronic payment solutions to colleges and universities with more than 300 higher education institutions in the United States and Puerto Rico utilizing its payment processing solutions.
While retail sales are soft the National Retail Federation says all is good and things will get better by year’s end. The NRF says no retailer was immune to the doldrums witnessed during the first quarter, and as a result, the year’s growth trajectory was impacted.
The NBPCA names a new president. Doug Bower. He held executive positions with Advanta, a multi-product financial services company, MBNA, a large bank issuer of credit cards now part of Bank of America, and CIGNA, a major insurance company.
The 2013 Federal Reserve Payments Study Detailed Report provides new information on the payments landscape including updated results on the intensity of card use by consumers and businesses; further discussion of previously released information on third-party payments fraud; new estimates of over-the-counter cash withdrawals and deposits at bank branches and wire transfers made by businesses and consumers; and discussion of emerging and alternative payments likely to replace traditional payments such as cash and checks.
ControlScan and TSYS’ ProPay team to provide PCI compliance solutions for small- and medium-sized merchants. TSYS says complying with PCI DSS can be a daunting task for any merchant ” especially for small- to medium-sized merchants. While utilizing products such as ProPay’s ProtectPay encryption and tokenization solution can significantly reduce merchant’s PCI DSS burden, all merchants must still comply with the Standard.
Rhodes 101 Stops Convenience Stores have deployed NCR’s ConvenienceGo (C-Go) mobile shopping app. Rhodes 101 Stops operates 30 convenience stores across Southeast Missouri and Southern Illinois and is a subsidiary of PAJCO.
Prepaid cards are a tricky emerging market. A new report suggests that Blackhawk Network, epay, and InComm rule the prepaid market. Mercator says many companies are at risk of displacement if they do not respond accordingly to the mobile, online, and virtual technologies threat.