Data analytics and technology firm Tranzlogic is excited to announce a partnership with Merchants’ Choice Payment Solutions that will give over 50,000 merchants access to Tranzlogic’s transactional data analytics platform. The agreement provides the ISO partners of Merchants’ Choice Payment Solutions the ability to offer advanced customer intelligence technology to their merchant clients that will change the way they do business and drive better decision-making. Merchants’ Choice Payment Solutions (MCPS) is a leading processing and servicing center for both ISOs and merchants alike. Their proprietary platform technology enables larger ISOs to board merchants on multiple platforms, while simultaneously allowing access to a variety of value-added business solutions. Now with Tranzlogic, the merchants, banks, and agents that rely on MCPS will utilize the proprietary technology that transforms transactional data into actionable insight.
Sentenial and KPMG will be working in partnership to assist organisations with their migration to SEPA, The Single Euro Payments Area and subsequent impacts for payment processes after Feb 1st 2014. As one of the longest-standing providers of SEPA solutions, Sentenial’s Origix platform provides a full suite of payment and direct debit services through either a hosted SaaS (Software as a Service) model which enables rapid on-boarding, or a fully installed end-to-end system at the customer site. Sentenial’s commitment to SEPA as our core business has been unwavering.
Fiserv, a leading global provider of financial services technology solutions, announced that it has been named a finalist for the Innovative Applications in Analytics Award, presented by The Institute for Operations Research and the Management Sciences (INFORMS). Other finalists include Ford Motor Company and IBM, with the winner to be announced at the Spring 2014 Analytics Conference in Boston, Mass. Analytics and Business Intelligence Services from Fiserv helps financial institutions harness the power of data in financial systems to improve decision making, manage cost proactively, drive revenue growth and reduce customer attrition.
Datacard Group announced allpay Card Services, an established and fast-growing independent card bureau and manufacturer based in the U.K., has selected the Datacard® MX Series Platform for its next-generation card personalization and delivery solutions – optimizing its client services offerings with highly personalized cards and carriers. Utilizing the Datacard® MX6100™ card issuance system with the Artista® VHD retransfer color printing module, allpay Card Services will be issuing bank and prepaid cards with personalized and unique card designs; as well as the MXD™ card delivery system for full-color card carriers that can be printed on-demand. This eliminates the need for predesigned card and carrier stock and ultimately reduces inventory costs.
Fiserv, Inc. announced that its Popmoney(R) person-to-person (P2P) payments service has taken top honors at both the Mobile Money Global Awards and the Mobile Excellence Awards. Both awards recognized the potential of Popmoney to transform personal payment habits as consumers move away from paper-based cash and check payments toward electronic payments initiated via email or text, as well as the service’s powerful delivery model via a network of 2,000 U.S. banks and credit unions and Popmoney.com.
The Consumer Financial Protection Bureau took its first enforcement action against a payday lender by ordering Cash America International, Inc. to refund consumers for robo-signing court documents in debt collection lawsuits. The CFPB also found that Cash America – one of the largest short-term, small-dollar lenders in the country – violated the Military Lending Act by illegally overcharging servicemembers and their families. Cash America will pay up to $14 million in refunds to consumers and it will pay a $5 million fine for these violations and for destroying records in advance of the Bureau’s examination.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 5.25% in September from last year to an adjusted $846B from 842.5B, and total nonfarm payroll employment up 148,000 in September, revolving credit outstanding is down by 8.8%. With total credit flow up 9.3% from the year ago figures, outstanding consumer credit…
Clear2Pay’s “OSCar Acquirer Test Suite” has been validated in application of the certification process defined by the Open Standard for Cards (OSCar) Consortium. The certification process was executed by PayCert on behalf of the OSCar Consortium. OSCar is the international initiative that aims to facilitate and speed up the implementation of the SEPA Cards Standards in the point-of-sale terminal-to-acquirer domain, based on SEPA FAST and EPAS. More specifically, the consortium’s main objectives are to ensure that point-of-sale devices and acquirer systems work together seamlessly. Clear2Pay’s Oscar Acquirer Test Solution enables acquiring banks in the SEPA zone to verify whether their implementations are conform to the functional SEPA standards.
As the nation emerges from the recession, which groups of Americans are faring the best when it comes to credit and debt and who is faring the worst? Experian’s Fourth Annual State of Credit study shows that Millennials are facing the biggest challenges when it comes to credit and how they are managing their debt. With the lowest number of bankcards (1.57) of all of the generations and a low total debt of $2,682 on those cards compared with other generations, one would assume that they are managing their debt wisely, but with high utilization1 as compared to their individual credit card limits, average debt2 of $23,332 and high incidences of late payments, it seems this generation is not entering this phase of life with positive credit behavior, which attributes to their low average credit score of 628.
Positive retail sales numbers in the month of October point to a good holiday sales season ahead. According to the National Retail Federation October retail sales, excluding automobiles, gas stations and restaurants, increased 2.5 percent seasonally adjusted over September, and 4.2 percent unadjusted from 2012. In October, NRF released its holiday sales forecast, which indicated a 3.9 percent increase in sales over 2012. NRF believes that holiday sales will reach $602.1 billion this year.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 5.25% in September from last year to an adjusted $846B from 842.5B, the continued defenestration of positive momentum continues in 2013. Continuing to grow, the September revolving credit outstanding is still not as high as the 2008 figure of $1trillion and is…
VeriFone Systems has been awarded a comprehensive managed payment services contract by Réseau Clubs Bouygues Telecom, the consumer retail affiliate of Bouygues Telecom, one of France’s largest fixed-mobile operators. VeriFone will provide its managed services software”PAYware Wynid”as well as helpdesk support, gateway services and VX 820 advanced PIN acceptance devices that support all types of electronic transactions. VeriFone’s VX 820 PIN pads will help Réseau Clubs Bouygues Telecom engage customers and drive revenues by delivering targeted promotional and branding messages to customers during checkout through the devices’ color touch screen. PAYware Wynid will consolidate and route all electronic payments made at each of Réseau Clubs Bouygues Telecom’s 400 retail stores through a single gateway that utilizes VeriFone’s encryption and tokenization services and is hosted in a PCI DSS validated hosting center.