USA Technologies Announces Record Connections for Fiscal 3Q/14

USA Technologies achieved a record approximately 22,000 new connections to its “one-stop” ePort Connect® service for approximately 20,000 net connections in its fiscal 3Q/14. As of March 31, total connections to USAT’s ePort Connect service totaled approximately 244,000. This is double that of the third quarter of last fiscal year. The Company will continue working with existing customers and the many vending operators who are now recognizing that cashless is a competitive necessity in today’s environment.

NCR Announces Latest Telecom & Technology Client

NCR Corporation and CradlePoint cloud-managed 3G/4G networking solutions for distributed enterprises signed an agreement that provides CradlePoint customers with expanded field service and support globally. NCR, through its Telecom & Technology line of business, will provide on-site installation, hardware maintenance and remote monitoring services that support CradlePoint’s cloud managed networking solutions.CradlePoint’s existing and new enterprise customers with geographically dispersed locations will significantly benefit from access to the more than 13,000 NCR badged service professionals and managed service centers globally.

Credit Card APRs Up Slightly From March Figure

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs are up .1% from the March figure to 15.02% after averaging a meager .04% change over the past year. This throws a kink in the downward momentum seen through the beginning of the year. This also follows a relatively lengthy period of APR stagnation throughout the holiday…

ChinsUnionPay Explosion Still Rippling

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The most popular payment method based on purchase volume were UnionPay debit cards, which for the first time surpassed Visa credit cards and Visa debit cards. Visa’s market share of 39.22% was down 262 basis points. MasterCard’s share dropped 158 basis points to 26.08%. UnionPay’s share grew by 534 basis points…

Google Wallet Powering Best Western Booking

Best Western International today announced that it is streamlining the hotel booking process by working with Google to allow guests to pay for their stay using Google Wallet. The brand will integrate Google Wallet within the Android version of its popular “Best Western To Go®” application and mobile website viewed through a browser on any device, allowing customers to seamlessly complete their reservation through this safe and secure platform. By adopting Google Wallet, Best Western is reducing the amount of steps consumers need to take to complete a mobile reservation.

Visa Announces General Counsel Succession Plan, Appoints Vice Chairman

Visa announced that Kelly Mahon Tullier will join the company as Executive Vice President and Deputy General Counsel. She joins Visa from PepsiCo, Inc., where she was the Senior Vice President and Deputy General Counsel. Ellen Richey, Chief Legal Officer, Chief Risk Officer, and member of the Executive Committee will continue in those roles through September 30, when she will become Vice Chairman – Risk and Public Policy. The Chief Risk Officer and the Chief Audit Executive will report directly to Ms. Richey. Ms. Richey will also lead a newly created function responsible for Public Policy at Visa, which will include ensuring that Visa continues to drive the future of payment security, being our voice with legislators, regulators and clients globally regarding payment system security, and other similar initiatives combining business and policy issues of strategic importance to Visa. She will also be responsible for coordinating global crisis management at the executive level.

FIS Runs GenNow Prepaid Cards, mCommerce

FIS announced a new solution that allows banks and credit unions to compete effectively with alternative financial services. FIS “GenNOW” Financial Services allows financial institutions to capitalize on these customers by providing real-time access to funds via mobile or prepaid cards. The “GenNOW” solution lets financial institutions effectively compete in a disruptive market where their customers are being lured to conduct alternative financial services outside of the traditional banking system. By offering a GenNOW account, financial institutions will be able to capture new revenue and retain customers with state of the art financial services and tools.

Heartland Acquires MCS Software Indicating Growth

Heartland Payment has acquired MCS Software school foodservice POS back office and online payment solutions. The acquisition of marks the continuing expansion of Heartland’s market-leading position in the growing K-12 school nutrition and POS technology industry. Heartland School Solutions provides industry-leading child nutrition and payment management solutions to public and private schools throughout the country. These include POS terminals, a secure online payment portal, mobile payment capabilities and integrated vending solutions. Heartland School Solutions also provides a number of back office management features, such as online free- and reduced-meal application processing, meal tracking, inventory management and menu planning.

Visa Approves Sequent TSM Platform

Sequent Software digital issuance and open wallet platform received approval from Visa for its Trusted Services Manager (TSM) systems. The Sequent platform is commercially available today for banks and mobile phone operators launching new digital issuance and mobile wallet services worldwide. Sequent’s Digital Issuance (SP-TSM) service securely manages and distributes payment credentials to mobile-device users worldwide on behalf of banks, mobile operators, merchants, transit and service providers. The service handles all pre- and post-issuance configuration of handsets, including personalization of NFC secure elements and provisioning of applications “over the air.”

Southeast Bitcoin ATM

Southeast Bitcoin will unveil South Carolina’s first Bitcoin ATM, powered by Robocoin at the Dig South Interactive Technology Festival in Charleston, SC. The machine will be hosted at the College of Charleston TD Arena. Southeast Bitcoin has partnered with Robocoin, whose groundbreaking technology allows customers to buy AND sell Bitcoins from a freestanding kiosk with bank grade hardware and security and 100% regulatory compliance capabilities. The security features include biometric sensors and user identity verification by scanning of a government-issued photo ID.

FGI Appoints VP, Business Development

Doug Stewart has FGI as Vice President of Business Development to oversee business activity on the West Coast. His goal will be to focus on maintaining and strengthening relationships with other lenders, finance companies, equity sponsors and referral sources. Stewart brings nearly a decade of experience in asset based lending and corporate investment banking, as well as experience working with business development teams. Stewart was responsible for Portfolio and Account Management, as well as Business Development in the California region with Wells Fargo Capital Finance. Before that, he was with Merrill Lynch Capital where he focused on corporate banking and supporting the underwriting and portfolio teams on both new and existing deals.