WesPay to buy Viewpointe Regional Payments

Viewpointe payments provider reached an agreement with WesPay (Western Payments Alliance), a membership association promoting the best use of electronic payments, whereby WesPay will acquire the assets of Viewpointe’s Regional Payments Association (RPA). Both organizations are working diligently to complete the conditions of closing by year end. When closing conditions are met and the deal is completed, WesPay will retain full ownership of the assets. The expanded association will continue to do business as WesPay. Viewpointe’s Regional Payments Association provides education on the latest payments topics and certification preparation for payments professionals; offers expert-led ACH audit and compliance services for financial institutions, payments processors and businesses using ACH; and provides industry-level member advocacy and input into the ACH Rules-making process as a voting member of NACHA”The Electronic Payments Association.

Western Union Pilots Prepaid Card for Housing Benefits

Western Union global payment services is piloting a prepaid card that enables tenants of Moat Housing Association to receive their housing benefit and automatically pay the Registered Social Landlord (RSL). The trial is part of a scheme to evaluate the role of prepaid cards in supporting automatic rent payments, which would meet many of the challenges RSLs face when implementing Universal Credit. Western Union is currently providing tenants with MasterCard prepaid cards. The cards allow RSLs to automatically draw money from the tenant’s card, preventing rent arrears and giving both tenants and the housing association a record that the rent has been paid. The cards have no credit facilities, so the tenants cannot spend more than the value on the card, once the rent has been paid to the landlord, the cards can be used to pay for goods and services wherever MasterCard is accepted.

Payelp and Onebip Partner

Payelp Global, an international payment and business development platform representing thousands of merchants and hundreds of payment gateways, announced a partnership with Onebip by Neomobile, a global mobile payment service. Onebip, which started in 1995 as the first mobile payment service worldwide, is connected to over 250 carriers with 5 billion users in over 70 countries. Onebip, part of global mobile commerce group Neomobile, has offices in Rome, London, Mexico City, Sao Paulo, Madrid, Berlin, Paris, Bogota, San Francisco and more. Onebip enables merchants to monetize digital goods and services to their users on a global scale using carrier-billing technology. As a leader in Europe and Latin America, Onebip has successfully supported the growth of many online gaming and entertainment businesses on mobile with an advanced technology platform.

Better ATM Services Launches Reseller Network

Better ATM Services has inaugurated a reseller network with the signing of its first agreement with Express Teller Services. Express Teller Services EFT financial service products for financial institutions and retailers can now allow third party ISOs and IADs to offer ATM-issued Visa gift cards and other prepaid products expanding their services to financial institutions. Express Teller Services becomes the exclusive reseller for credit unions in Arizona through the reseller accord. The pact builds upon the strong partnership between Better ATM Services and Express Teller Services, which began when Express Teller Services piloted Better ATM Services’ pioneering, patented technology with Arizona-area credit unions. Visa prepaid gift cards and Discover MyGift multi-merchant gift cards will initially be offered at three First American Credit Union locations in Southern and Northeast Arizona, and New Mexico.

Spending Intentions, Confidence Up in November

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor was up 1.1 points in November to 89.0 along with consumer confidence in the economy and spending intentions. There was a significant increase in the number of respondents anticipating they will spend more during December, leading up to the holidays. The Monitor is a 6-year-old daily…

Charge-Offs Sink

After peaking at 10.79% in the second quarter of 2010, credit card charge-offs have sunk three-fold to new lows. According to the Board of Governors of the Federal Reserve, credit card charge-offs (seasonally adjusted) declined for four consecutive quarters to 3.23% in the third quarter of 2013. Among the nation’s largest issuers Citibank charge-offs are down 61 basis points from one-year ago to 3.54%. Chase credit card charge-offs have declined from 3.57% one-year ago to 2.86%, a 71 basis point decline. Bank of America reports third quarter charge-offs of 4.10% compared to 5.27% one-year ago, a whooping 117 basis point decline. Despite sluggish consumer spending, credit quality is slowly but surely improving. RAM Research projects credit card charge-offs (seasonally adjusted) will decline at least 10 basis points in the fourth quarter to approximately 3.10% industry-wide, a seven year low.

Collis Discover Qualified

UL announces that Discover has qualified both, the Collis Brand Test Tool and the Collis Smart Link Box, for acquirer end-to-end testing. In order to process EMV transactions on the Discover Network, acquirers are required to execute the Discover D-Payment Application Specification (D-PAS) Acquirer End-to-End test cases. The Collis Brand Test Tool is now qualified to be used for certifying against the latest 12.2 specifications. This qualification includes the D-PAS Issuer Response Simulation, which allows testers to run the complete Acquirer E2E testing with the Collis Brand Test Tool, without the need for an external host simulation. A key characteristic of the Collis Brand Test Tool is that it covers the test plans for all relevant payment scheme brands. The Collis Brand Test Tool has the ability to simulate any test card.

CU Wallet Selects Promote Product Launch, PR Efforts

CU Wallet credit union-owned and directed mobile payments technology provider will promote the launch and ongoing strategic public relations and marketing efforts for its mobile wallet application. In partnership with William Mills Agency, the campaign for credit unions to meet the needs of an increasingly mobile membership base, attract a new generation of members and generate sustainable streams of revenue. At the time of the launch, 15 credit unions, ranging from $400 million to more than $5 billion in assets and representing more than 2 million members nationwide, have signed agreements with CU Wallet. Since the launch in late September, an additional 20 credit unions, ranging from $100 million to more than $6 billion in assets and representing more than 2.0 million members nationwide, have signed agreements.

REALSEC Cryptographic Solutions

From EMV migration to email protection and Public Key Infrastructures, REALSEC’s solutions enable US financial institutions to dramatically reduce the time of deployment from months to weeks, increasing security level and ROI. The use of cryptographic technologies in the banking and financial sector is both a regulatory requirement, as well as a customer requirement. Customers’ increasing concerns about identity theft and the latest security breaches nationwide are boosting the deployment of additional security measures to help protect customer data and transactions. To address todays’ needs, REALSEC offers a number of unique solutions to protect financial-related operations EMV migration, ATM/POS remote key loading, digital signature, etc.

Americans’ Credit Bill Grows, Chargeoffs Continue to Wane

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Although cardholders continue to rack-up their credit card debit, at least they continue to pay their bills on time. Prime charge-offs are anticipated to decline for the seventh straight month to the lowest observation in the near 23-year history of the Fitch index, even as total outstanding revolving US consumer credit…

NCR Announces Strategic Acquisitions

NCR Corporation has signed a definitive agreement to purchase Digital Insight Corporation online and mobile banking solutions for $1.65 billion and completed the acquisition of Alaric Systems Limited for $84 million. These companies complement and extend NCR’s existing capabilities in the banking industry to form a complete enterprise software platform that will deliver a unique and compelling consumer experience across all digital and physical channels – mobile, online, branch, and ATM. The combination will help retail banks and other financial institutions reduce legacy costs and enable solutions for new, more nimble branches, by providing one platform for omni-channel services and all payment and transaction types. The acquisitions together will also position NCR to deliver an enterprise software stack that securely and seamlessly creates a differentiated consumer experience across all channels (online, mobile, ATM, branch) improving a retail bank’s growth, profitability and customer satisfaction. Alaric Systems payments processing and fraud prevention software allows financial institutions, processors and retailers to manage ATM, point of sale, ecommerce and mobile payment or banking transactions, deliver complex multi-channel payments integration and carry out enterprise fraud and risk management.