Discover Honored for Next Generation Customer Service Application

Discover Financial Services is on InformationWeek Elite 100 — a list of the top business technology innovators in the U.S. Discover made the list by developing a new application that provides a fully comprehensive, customer-centric view and supplies account managers with better data and up-to-the-minute information, allowing them to provide superior customer service. Unique among corporate rankings, the InformationWeek Elite 100 spotlights the power of business technology innovation. The InformationWeek Elite 100 research tracks the technology-based investments, strategies, and results of some of the best-known organizations in the country.

Oink Announces Latest Addition to Exec Team

Virtual Piggy, Inc. (OTCQB: VPIG), provider of innovative safe payment technology, Oink, announced the appointment of Trent Walker to Senior Leader in the role VP Business Development – Key Accounts. Trent Walker brings over ten years of payments and finance industry expertise, working with many of the world’s leading corporations, including Google and Facebook. For the past six years, Mr. Walker has held strategic leadership roles within the financial services department at Arvato, the $6 billion per year division of Bertlesmann. Oink is the only payment technology designed to allow retailers and game publishers to reach under 21 consumers in a safe, legal, and effective manner compliant with the FTC and other international regulations. This innovative technology serves as a digital family wallet that is available online or via mobile and allows safe, secure transactions – all within parental controls.

Payment Alliance International an ATMIA Global Sponsor

Payment Alliance International ATM and electronic payment processing announced global sponsorship of the ATM Industry Association (ATMIA). ATMIA is an independent, non-profit trade association whose mission is to promote ATM convenience, growth and usage worldwide; protect the ATM industry’s assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. PAI is one of the largest ATM deployers in North America with more than 65,000 locations in the PAI Alliance Network. Uniquely positioned in the payments marketplace, PAI offers custom ATM programs and services for retailers and financial institutions including ATM cash management and branding solutions, as well as a variety of electronic payment options.

i2c Experiencing Accelerated Worldwide Growth in Fiscal Year 2014

i2c, Inc., a provider of payment processing and emerging commerce solutions, announced that it is continuing to experience strong worldwide sales momentum in Fiscal Year (FY) 2014, which ends June 30. i2c is also seeing substantial growth from its existing client base, as both prepaid platform transactions and total accounts supported are up more than 50% from a year ago. The i2c platform’s ability to monetize customer relationships and build loyalty is resonating with organizations in all regions of the globe. The diversity of specific program solutions being implemented is a result of the flexibility inherent in i2c’s next-generation processing platform. Programs implemented or in development include general purpose reloadable (GPR) programs in Japan, a mobile wallet companion card in South Africa, a digital gifting app in the United States, debit card programs in Latin America and various prepaid programs in China, Australasia and the Middle East. A full spectrum of prepaid programs, including GPR, payroll, incentives, gift, travel, loyalty and remittance solutions, have been rolled out by i2c during the fiscal year.

U.S. ROA 2013

Discover and American Express retain the overwhelming lead for return on assets (ROA) among the nation’s top credit card portfolios, according to CardData. During the first quarter, the American Express ROA rose more than 10 basis points to 6.83%. The ROA for Chase, Citibank and Capital One hovered in the 4% to 5% range last year. For 2013, Discover posted a 6.8% ROA and American Express a 6.7% ROA. Discover will be releasing its first quarter report next week. Capital One’s U.S. ROA for 2013 was 4.4%. The Chase U.S. ROA was 4.3%. Citibank’s U.S. ROA was 3.9%.

Fiserv Enhances US Bank’s P2P

Fiserv, Inc. today announced that U.S. Bank has enhanced its existing person-to-person (P2P) payment service with an Instant Payment option, as well as the ability to request money and send personalized digital greeting cards along with payments. These new features are available via U.S. Bank online and mobile banking, giving U.S. Bank customers more ways to send, request or receive money using another person’s name and account number, email address or mobile phone number. U.S. Bank is the first large bank in the country to offer real-time P2P payments online and through mobile devices using the Popmoney(R) Instant Payments feature.

Moneygram Partners Facebook Platform

MoneyGram is teaming up with PicomoPay to allow its consumers in the U.S. to send money transfers via PicomoPay’s Facebook application to more than 336,000 MoneyGram agent locations in more than 200 countries. The social media service will be available to consumers in May. PicomoPay is a social and mobile payments platform integrated within Facebook. Its primary business is to allow consumers to conduct person-to-person payments funded by their PicomoPay Digital Wallet, and to buy and send virtual gift cards on Facebook.

TSWG integrates EyeVerify Eyeprint Verification

EyeVerify, San Jose, California, Finovate start-up and TSWG (The System Works Group) from Brisbane, Australia announces that TSWG NetTeller Mobile Money will integrate with EyeVerify’s Eyeprint Verification across iOS and Android devices.
TSWG is a leading provider of secure and agile digital banking technology, and will integrate the patented Eyeprint Verification technology; which is available only from EyeVerify and provides a highly accurate, user friendly biometric authentication stack.

Swift upgrades Bankers World reference data directory

Swift launched launched Bankers World Online directory online query tool which has been significantly upgraded to provide more data coverage, a wider breadth of financial information (including data from Reuters, Dun & Bradstreet, and Moody’s), and new intuitive features and functionalities. The service is part of the SWIFTRef portfolio, an industry-wide platform for global payments reference data. The new Bankers World Online service includes essential reference data, such as Business Identification Codes (BIC), International Bank Account Numbers (IBAN), Legal Entity Identifiers (LEI), national bank codes and more that are used to facilitate international payments and to fulfil new reporting requirements. It also includes important financial information from market data vendors and credit rating agencies, including credit ratings, shareholder information, balance sheet information, cash flows, and many more data sets about customers, suppliers and service providers.

Union First Market Bankshares Name Change

Union First Market Bankshares Corporation announced that it has officially changed its name to Union Bankshares Corporation. The name change does not affect Union First Market Bank or StellarOne Bank and does not affect any of the other non-bank affiliates of the company. In May 2014, StellarOne Bank will merge into Union First Market Bank. The combined bank will continue to operate under the name Union First Market Bank until the second half of the year.

Diners Club Q1

Payments volume for Diners Club International declined 2% year-on-year and 4% sequentially in the first quarter. After peaking at $7.2 billion in Q4/2012, the international card issued by Discover Financial Services, has experienced a softening in quarterly purchase volume by 9%. Acquired by Discover Financial Services in July 2008, the international payment card has consistently hovered between $6.5 billion and $7.0 billion in quarterly payments volume.