International (excluding the USA) Gross Dollar Volume (GDV) for Visa (VS) and MasterCard (MC) credit cards rose 6.3% year-on-year (Y/Y) in the first quarter (Q1/14). MC’s growth in international credit cards GDV outpaced VS by 280 basis points (bps), according to CardData. During Q1/14 VS and MC produced $892 billion in international credit card GDV, compared to $968 billion in the prior quarter and $839 billion one-year ago.
Wallaby Financial mobile and web-based credit card optimization has named Scott Grimes as its Senior Vice President, Risk and Operations.He will oversee all risk, corporate compliance, data security, and operations for the fast growing financial services company. This newly created role is in response to Wallaby’s emergence as a leader in credit card optimization solutions. Mr. Grimes is a risk management professional with over twenty years experience in fraud, AML and compliance functions. He was previously Vice President, Risk Management at Green Dot Corporation from 2007 to 2013. Prior to joining Green Dot, Mr. Grimes also served in senior executive roles focused on risk and compliance at Target Corporation and Capital One Financial Corporation.
Braintree v.zero SDK foundation for accepting payments is now available with customizable drop-in UI features across platforms, and for the first time enables Pay with PayPal. And though we’re offering so much more in our new v.zero SDK — we’ve made it even easier to integrate. With the new Braintree v.zero SDK, developers can set up payments and be up and running within 15 minutes (or less), while maintaining full control of their user experience. The Braintree v.zero SDK features Pay with PayPal options, a fully optimized Drop-in UI, and is built to stand the test of time – any future feature updates will be simple to add so businesses always have easy access to the best-in-class platform and latest features.
Aconite’s Smart EMV Manager system been interfaced to the Visa Mobile Gateway to enable remote management of the EMV application at the heart of the Tap n Pay service – the first mobile phone application for contactless payments in the Greek market, introduced by one of Greece’s leading banks together with one of the world’s leading mobile network operators in partnership with Visa Europe and First Data.
BitFury Group, the leading Bitcoin infrastructure provider, announced it is launching “BitFury Capital”: a seed investment fund. The fund will leverage BitFury’s leading position in bitcoin and cryptocurrency infrastructure to accelerate other parts of the ecosystem through strategic partnerships, and expansion into adjacent business opportunities.
Optimal Payments payment solutions and Oink payment technology partnered to offer merchants using the NETBANX® payment gateway an additional payment method for teens and their families to pay and manage their money online, securely and easily. Oink is the only payment technology that helps kids and teens manage their money online and on mobile devices, under parental guidance and control. It allows ecommerce merchants to reach consumers under 21, in a secure, legal and effective manner while remaining compliant with FTC and COPPA regulations.
Ecomdash announced today it is now integrated with the ecommerce platform, Magento. The newest integration makes it easier for Magento customers to manage inventory, sales orders and shipping across multiple marketplaces. Ecomdash automatically syncs sales orders and inventory levels between Magento storefronts and channels including Amazon, eBay and Etsy. The web-based software application gives online sellers a complete view of business operations from a centralized dashboard.
Affirm announced the commercial release of its new Split Pay service that lets online merchants offer the power of installment payments to their consumers at the point of sale. Using Split Pay, online shoppers can make a purchase and pay across multiple months with simple, clear financing fees a fraction of credit card interest rates. With Affirm there is zero risk for the eTailer. Affirm pays its merchants in full at the time of settlement and their customers enjoy payments stretched out in monthly installments. Split Pay is consumer-friendly by providing clear terms and a fixed set of payments.
USA Technologies announced its loyalty and prepaid program, MORE., is now integrated with AirVend’s interactive touchscreen point-of-sale device. The combined solution is designed to provide customers of AirVend added convenience, choice and new revenue opportunities. MORE. lets users of ePort Connect offer their consumers rewards and discount offers for products purchased at their cashless-enabled locations, thus building loyalty, repeat business and a greater understanding of their consumers’ purchasing preferences. MORE. is offered as an extension to USAT’s comprehensive ePort Connect® service, a one-stop cashless payment service that now supports more than 6,650 customers.
London tops the list as the destination of choice for international travelers for the third time in four years, according to the annual MasterCard Global Destination Cities Index. Rounding out the top five cities are Bangkok, Paris, Singapore and Dubai, which are benefiting from a surge in international travel fueled by an expanding middle class, innovations in luxury travel and rising need for business travel. The index also indicates this surge will continue, even with more technology and collaboration tools available to businesses. MasterCard’s Priceless Cities program provides exclusive access to more of life’s passions. At the same time, there are core benefits, insurances and features that help provide greater convenience along the way.
XRomb Inc. announced today that the US Patent Office has issued them a patent that covers the most user-friendly way of loading credit card information into mobile commerce applications including the rapidly expanding market of mobile wallets. The patent for invention number 8,763,896 is a system and method patent for loading a transaction card and processing repayment on a mobile device.
Synchrony Financial announced its strategic investment in LoopPay mobile payments platform. LoopPay recently introduced the LoopPay ChargeCase, which allows consumers to pay with their iPhone 5 or 5s at regular credit card swipe readers, while extending the phone’s battery charge by up to 60%. It is the second product launched by LoopPay in four months, with several more products planned for market entry this year. LoopPay technology enables existing point-of-sale infrastructure to accept contactless payments through mobile devices at the vast majority of retail merchants. Synchrony Financial views LoopPay as an opportunity to close this gap for its retail partners and their customers while offering an enhanced consumer experience and additional security features.