[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TSYS reported results for the first quarter of 2014 and announced the sale of its business interests in Japan. The accompanying financial statements have been adjusted to exclude the Japanese results from ongoing operations in 2014 and 2013 with those results reported as “discontinued operations” for all periods presented. Total revenues…
2Checkout appointed Shawn Budde as CEO. Bringing with him over 25 years experience, Budde has held executive roles at Citibank and Capital One; data analytics experience at Sears Holdings; and as co-founder and President at ZestFinance, a VC-backed technology company. Budde earned a B.A. from Columbia University and an M.B.A. from the Wharton School at the University of Pennsylvania. At ZestFinance, Mr. Budde teamed with Google’s former CIO to reinvent lending methods by using large-scale data analysis and machine learning to lower the cost of credit for the highest risk customers. At 2Checkout, Budde plans to apply similar approaches on a global scale to help the company accelerate its market expansion in online payments.
Nok Nok Labs announced that Samsung and PayPal have selected the company’s NNL™ S3 Authentication Suite to enable the new mobile payment system introduced at Mobile World Congress. The next Samsung Galaxy S5 smartphone will enable seamless and secure mobile payments via an integrated Fingerprint Sensor (FPS). The S3 Suite from Nok Nok Labs allows both Samsung and PayPal to provide a simpler, more secure mobile shopping experience, leveraging the emerging FIDO™ standards.The NNL™Multifactor Client (MFAC) Mobile Edition (also called the “NNL FingerPrint Passport”) allows the Galaxy S5 Fingerprint Sensor to connect securely to online services, and will help Samsung enable users to authenticate any FIDO Ready™application with the existing security capabilities of their device. PayPal has deployed the NNL™ Multifactor Authentication Server (MFAS) to provide a unified and flexible authentication infrastructure that communicates securely with the NNL client on the Galaxy S5. Both Nok Nok™ products are FIDO Ready, meaning they have been certified by the FIDO Alliance.
Vesta Corporation announced the launch of vSafe, a new payment gateway that eliminates the cost of transaction fraud for e-commerce and m-commerce merchants. Leveraging Vesta’s proprietary and patented fraud technology modeled on over one billion electronic payments, vSafe evaluates orders using business-specific models that maximize real-time transaction acceptance and isolate merchants from transaction fraud. In addition, the quick-to-deploy API features full-service global payment capabilities and data protection features designed to significantly reduce PCI compliance requirements.
Singular Payments announced today that industry expert Marty Hilber has joined the company as its General Manager, overseeing day-to-day business operations. Charles Yancey, Founder & President of Singular Payments, and Vaden Landers, Chairman & Managing Partner, noted that Hilber’s appointment was necessitated by the significant growth and expansion the business has experienced resulting from the signing of numerous strategic partnerships, as well as the launch of various new product development initiatives.
Springboard Retail announced The Pink Stores Lilly Pulitzer Signature Stores has launched mPOS as part of a major store transformation project. In The Pink’s eight stores are located in Massachusetts with flagship stores on Newbury Street in Boston and on Nantucket Island. They piloted the project in their Boston store where they removed the cash wrap and stationary POS terminals went 100% mobile. They are using Apple’s iPads and iPad minis powered by Springboard Retail. The results from the first 11 days of In The Pink’s rollout of mPOS reveal a 24.5% increase in sales over the same period in this store a year ago. Transaction count was up 6.5%, transaction value was up 17%, units per transaction was up 12% and total units sold was up 19%. In The Pink repurposed 48 square feet of floor space and reclaimed full floor to ceiling use of 6.5 feet of prime wall space. The Nantucket store is next to undergo the transformation.
Quick Fuel has partnered with Comdata to provide its fleet customers with one of the fastest and most secure means of fueling available. Quick Fuel recently purchased Comdata’s fuel site controller, known as SmartSight, for all of its retail locations and added Comdata’s SmartQ™ radio frequency identification (RFID)-based technology to offer an extra level of speed and security to the fuel transaction process. In addition to processing transactions quickly, SmartSight processes fueling transactions securely as well. The card reader equipment meets industry security standards, while an integrated camera function allows site owners to view customer images as the card is swiped to identify potentially fraudulent users when necessary.
Citibank’s international card business posted a healthy gain in first quarter profits in the EMEA region, a modest gain in Asia offset by a significant drop in the Latin America region. Combined the three regions contributed $288 million in net income to Citibank. In the U.S., Citi-branded cards net income rose 31% year-on-year to $566 million.
The average purchase transaction for a MasterCard-branded card in the APMEA (Asia Pacific Middle East Africa) region hit $94.14 in 2013, nearly double the average purchase transaction of $55.72 for U.S. MasterCard credit and debit cards. Meanwhile, the average purchase tickets on U.S. MasterCard debit cards has been relatively consistent since 2009, but MasterCard’s average purchase ticket for U.S. credit cards has grown significantly from $80.68 in 2010 to $88.09 last year.
Payment technologies innovator Merchant Warehouse® today announced its partnership with hospitality mobile payments leader TabbedOut. The partnership will serve to co-market each company’s payment solutions, making mobile payments and digital marketing and loyalty programs a reality for thousands of businesses nationwide.
U.S. Bank has fully converted its fleet of nearly 5,000 U.S. Bank ATMs to the Windows 7 operating system. U.S. Bank is one of the first major banks to complete the conversion of its entire ATM fleet. Other ATM owners in the industry have announced that they plan to purchase extended support from Microsoft while they complete their conversion. U.S. Bank chose to upgrade the operating systems on its entire fleet by the April 2014 deadline as part of an overall strategy that included updates to meet new technology enhancements such as ATM deposit automation, compliance with enhanced accessibility rules from the Americans with Disabilities Act (ADA) and replacement of older ATMs in the fleet. Today, the average age of a U.S. Bank ATM is five years.
Discover partnered with the National Hockey League (NHL®) today to surprise members of the Midshipmen with the Stanley Cup®, the most revered trophy in professional sports. The Midshipmen, who finished this season at 29-7-2 and ranked eighth nationally, were treated to a celebratory reception this afternoon at McMullen Arena in the Brigade Sports Complex. Navy hockey team members, who were holding an informal scrimmage at the arena, were treated to a surprise visit from the Stanley Cup. The surprise did not end there, as players from the Navy Youth Hockey league, along with their families, were invited to the arena to join the celebration where pizza and beverages were served and the Navy youth hockey players had the chance to skate with some of the Midshipmen players. Unbeknownst to them, they too would be getting a visit with the Stanley Cup.