Aptito mPOS Now Visa-Ready

Net Element mpayment and value-added transactional services announced Aptito cloud-based POS payments platform is now Visa-Ready for their mPOS solution. Aptito helps restaurants drive consumer engagement via tablet, mobile and all other cloud-connected devices. Aptito’s mPOS system provides hospitality merchants with tools to increase sales, productivity, and customer loyalty. The solution is a tablet-based POS that combines traditional POS functionality with mobile ordering, payments, social media, intelligent offers, mobile applications, loyalty, and transactional data all in one solution supported by Aptito’s cloud-based payments platform. Restaurants can leverage Aptito to plug into social networks, daily deal promotions and other marketing programs while having the ability to use Aptito’s integrated mobile marketing tools to deploy their own lead generation campaigns and loyalty rewards.

USA Tech Wins 2014 ‘Future 50’ Award

USA Technologies is among the winners of the SmartCEO 2014 Future 50 awards for Greater Philadelphia.The Future 50 awards program recognizes the region’s 50 fast-growth, mid-sized companies, five large blue chip companies and five small emerging growth companies based on a combined three-year average of revenue and employee growth. USA Technologies is to be celebrated at an awards ceremony on January 16, 2014.

Massive credit card and identity theft scheme

A Ukrainian national charged as part of a multiagency federal investigation into a worldwide online marketplace for stolen personal and financial information was arraigned in federal court Monday following his extradition Friday from Croatia. Operation Open Market, which began in March 2007, targeted an organization known as “Carder.su.” The investigation revealed members of the ring, known as “carders,” were involved in large-scale trafficking of compromised credit card account data and counterfeit credit cards, as well as money laundering, narcotics trafficking and various types of computer crime.

Primax Enlists First Data for Processing

Primax debit and credit card issuing and merchant acquiring programs, products and services entered into a payments card processing service agreement with First Data. Primax closed on the transaction to acquire the processing business of New England Bankcard Association Inc. (NEBA), a Massachusetts-based association of banks that provided credit card issuing and merchant acquiring programs, products and support services for its members. The Primax acquisition of NEBA processing consolidated the current processing and servicing business of NEBA into Primax and the processing agreement, which was previously between NEBA and First Data, is now between Primax and First Data.

WorldPay & Delego Partner

WorldPay’s end-to-end payment services integrated with Delego epayment processing platform, combining SAP enterprise systems with online payments. The Delego software securely captures electronic payment transaction data from customers and this information is routed to the WorldPay Gateway. WorldPay then manages the payment authorisation and settlement process. This allows merchants to implement WorldPay’s payment processing, alternative payment methods and risk management services through a single connection. The integration also increases security of payment information and reduces the scope of PCI DSS.

Citigroup Net Profit Doubles

Citigroup reported today a 4Q profit for 2013 at double that of its 4Q profit of 2012. Net Income was at $2.7 billion on revenues of $17.8 billion for 4Q/2013 compared to net income of $1.2 billion on revenues of $17.9 billion for 4Q/2012. CVA/DVA was a negative $164 million ($100 million after-tax) in the fourth quarter, mainly resulting from the improvement in Citigroup’s credit spreads, compared to negative $485 million ($301 million after-tax) in the prior year period. Excluding CVA/DVA, fourth quarter revenues were $17.9 billion, down 2% from the prior year period. Fourth quarter 2013 results also included a $189 million after-tax benefit related to the divestiture of Citi’s Credicard business in Brazil, while results in the prior year period included a $1.0 billion repositioning charge ($653 million after-tax). Excluding CVA/DVA, the impact of the Credicard divestiture in the fourth quarter 2013 and the fourth quarter 2012 repositioning charge,6 earnings were $0.82 per diluted share, up 19% from the prior year period.

Card Assets

Combined, Visa and MasterCard hold total assets of nearly $50 billion as of the third quarter of last year. Visa reported total assets of $36 billion for Q3 while MasterCard reported total assets of $13.7 billion. One-year ago Visa’s total assets stood at $40 billion. The Visa decline was due to the release of cash in its litigation escrow account of $4.4 billion. MasterCard’s total assets have grown over the past year from $12.1 billion to $13.7 billion.

AT&T and Vantiv Announce New Mobile Payments Solutions

AT&T and Vantiv, Inc. announced the availability of new payment products that deliver highly secure, integrated and speedy on-the-spot mobile transactions to businesses of all sizes. Mobile payments represent a market opportunity with significant upside as businesses implement new, more integrated ways to manage their operations and sell to customers. In fact, Forrester Research projects that U.S. mobile payments will reach $90 billion in 2017, representing a 48 percent compound annual growth rate from the $12.8 billion spent in 2012.

Net Element’s Aptito Achieved Visa Ready

Net Element, Inc. is pleased to announce today that Aptito, LLC (“Aptito”), has achieved Visa Ready status for their mPOS solution. Aptito is a next generation, cloud-based point of sale payments platform, operated through TOT Group, Inc. (“TOT”) the mobile payments and transaction processing subsidiary of Net Element. Aptito helps restaurants drive consumer engagement via tablet, mobile and all other cloud-connected devices. Aptito’s mPOS system provides hospitality merchants with tools to increase sales, productivity, and customer loyalty. The solution is a tablet-based POS that combines traditional POS functionality with mobile ordering, payments, social media, intelligent offers, mobile applications, loyalty, and transactional data all in one solution supported by Aptito’s cloud-based payments platform.