[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor was up 0.7 points in September to 91.7, as consumer confidence in the economy slightly improved, but consumer spending intentions declined from the prior month. It showed those who feel the economy is getting better was up 2 percentage points to 30%, mainly driven by those…
Fiserv announced lenders and servicers can use its “LoanComplete” suite of solutions from Fiserv to help them maintain compliance with the Consumer Financial Protection Bureau’s (CFPB) mortgage servicing final rules that go into effect on January 10, 2014, the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z). The “LoanComplete” life-of-loan suite helps lenders and servicers comply with complex government regulations while simultaneously reducing their loan-processing time and exposure by combining standardized workflow processing with enterprise content management and customized data analytics. Regulation X addresses servicers’ obligations to correct errors asserted by consumers who have home loans, comply with their information requests and provide protections from force-placed insurance. The rule also requires servicers to provide information about mortgage loss mitigation options to delinquent borrowers; to establish policies and procedures for providing them with continuity of contact with personnel capable of performing certain functions; and to evaluate borrowers’ applications for available loss mitigation options.
American Express Global Corporate Payments was named “Most Admired Payment System” by readers of The Beat, the BTN Group’s industry-leading business travel newsletter. This is the sixth consecutive year American Express has won the award, making it the only company to do so since The Beat’s Readers’ Choice Awards program launched in 2008. The 6th Annual Beat Readers’ Choice Awards were based on a poll conducted this summer, which asked readers of The Beat to choose which company in six supplier segments they most admire for its “policies, management style and service for business clients.”
Large merchants across North America can now relieve the headache of operating a complex payments infrastructure while at the same time position themselves for future growth thanks to a new managed service solution from Transaction Network Services (TNS) and AJB Software (AJB). TNSPay Direct combines TNS and AJB’s industry leading capabilities to create a solution that provides merchants with improved control, enhanced security and greater flexibility over their card present and card not present payments environment. TNSPay Direct provides access to a dedicated and fully managed AJB Retail Transaction Switch (RTS), applying geographically diverse active/active data centers and backed by an industry leading Service Level Agreement (SLA). All processing activity takes place within the TNS Secure Payment Network, including routing and connectivity to the processors and acquirers of the merchant’s choice.
First Community Credit Union (FCCU) added a new branch location in the HEB grocery story on FM 1488 in The Woodlands with the help of interactive video technology from NCR Corporation (NCR). FCCU is the first financial institution in Houston to deploy NCR APTRA Interactive Teller, the only ATM-based technology that not only lets people talk to a live remote teller but also gives the teller remote control over the machine to conduct transactions. The efficiency and security created through the centralization of tellers enables financial institutions to transform their branch locations into more effective service and sales environments. APTRA Interactive Teller lets financial institutions offer access to teller services during non-traditional banking hours, build new small-footprint branches, and provide full teller services in areas not served by branches, all while taking advantage of the advanced features of NCR ATMs such as intelligent deposit, bill pay and new account and loan initiation.
mopay announced a carrier billing partnership with one of the world’s leading carrier groups Telefónica. mopay will be granted direct access to Telefónica’s billing platform, thus connecting mopay directly to the telco’s subscriber base worldwide. Consumers using mopay can purchase digital goods and services frictionlessly in nine countries where Telefónica Services are currently available and charge the purchases to their phone bill. The agreement with Telefónica Digital is another significant milestone in mopay’s global strategy. The integration of Telefónica’s billing platform not only elevates the consumer experience to a new level but also improves commercial agreements for mopay’s global merchant base. The integration is a valuable addition to mopay’s global carrier network, particularly for the emerging markets of Latin America where the ability to pay via a mobile phone with charge to mobile billing is very popular. The mobile penetration rates of more than 120% versus barely 50% for credit card penetration speak for themselves, and looking at the young demographics, the imbalance is even more significant.
Fiserv announced Matt Wilcox as its Managing Director, Marketing Strategy and Innovation, Digital Payments, where he will guide the holistic marketing of Fiserv payment solutions, with a focus on those that support digital and emerging payments for consumers and small businesses. Wilcox will also oversee collaboration opportunities with Fiserv clients who are early adopters of emerging payments technologies and establish partnerships with other emerging technology companies. Wilcox is a recognized industry expert on channels and payments, and is a frequent speaker at industry conferences on topics including payments, digital channels, marketing, multi-channel integration, social media and risk management. He is an active participant in industry groups such as the American Bankers Association (ABA), the Bank Administration Institute (BAI), the Forrester eBusiness Council and the Social Media Business Council. He was recently recognized by Bank Innovation as one of the 2013 Innovators to Watch: 44 Executives Shaping the Future of Banking.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa, MasterCard and American Express introduced a proposed framework for a new global standard to enhance the security of digital payments and simplify the purchasing experience when shopping on a mobile phone, tablet, personal computer or other smart device. Aligned with these initiatives, the proposed standard would meet this consumer demand…
Viableware announced PayPal will be accepted on the RAIL payment platform, a mobile payment device that enables full-service restaurants to securely accept various forms of payment at the table. The integration expands PayPal’s presence in the dining vertical and will enable the payment service on all RAIL devices expected to be implemented by more than 20 of the nation’s most recognizable full-service restaurant brands within the next year. Viableware’s RAIL is a handheld device designed to replicate the look and feel of the traditional bill presentation folder used at most full-service restaurants – but unlike the original, the RAIL allows guests to securely self-swipe credit or debit cards, auto-calculate the tip, split the bill multiple ways, pay-by-item, and direct-email receipts. It also hosts a number of other functional apps that can be used by full service restaurants to provide better service or improve the customer experience.
Virtual Piggy announced Dale Jensen joined its Board of Advisors. Jensen brings experience of over 30 years to the role. Jensen co-founded Information Technology (now Fiserv). Virtual Piggy promotes financial management while empowering youth under 18 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents. The technology serves as a family wallet that is available online or via mobile, and is 100% free to use.
Paydiant m-wallet and cardless ATM access has integrated its mobile wallet solution with the Future POS restaurant and hospitality POS system. The certified solution also enables Future POS customers to benefit from a number of other compelling capabilities including tender steering to lower cost payment instruments, distribution of offers to drive more frequent customer visits and higher average ticket size, and a more secure payment mechanism that leads to less card fraud and fewer charge backs. Now consumers can use any iPhone® or Android™ smartphone to download the restaurant’s or hospitality service provider’s mobile wallet app and link their preferred payment cards to the wallet. Customers then simply scan a QR code presented to them at the point-of-sale or on a tablet running an instance of Future POS at the table.
Fifth Third Bank announced the introduction of mobile deposit functionality for business customers. Fifth Third had successfully tested and piloted this program earlier this year. As part of the formal introduction of this service, Fifth Third is now offering higher mobile deposit limits. The maximum amount a customer can deposit varies based on how long the customer has had an eligible, open business deposit account with Fifth Third and if the account is in good standing. Deposit limits are available for qualified business users up to $15,000 a month – one of the highest limits for business customers in the industry. Both iPhone and Android users will be shown within their app the maximum amount they can deposit. Customers are able to make deposits as late as 8 p.m. Eastern time to process their checks the same day.