MasterCard Names New Chief Marketing Officer

MasterCard announced that Raja Rajamannar has been named Chief Marketing Officer (CMO). Here he assumes global responsibility for MasterCard’s advertising, sponsorships, promotions, research, insights, and digital and consumer marketing initiatives. Rajamannar previously served as Executive Vice President and Chief Transformation Officer at WellPoint, Inc, where he led the company’s new strategic direction and transformational agenda, and was responsible for managing its $10 billion Medicare Advantage business. He also managed various functions for the enterprise, including Marketing, Innovation, Corporate Development & Ventures, Consumer Data Analytics, Digital and International Operations.

Jack Henry Launches EMV Chip Card Issuance

Jack Henry & Associates’ JHA Payment Processing Solutions (PPS) division launched its expedited EMV implementation process for U.S. chip card issuance. Some chip card implementations may require direct project involvement by card brands. To get in front of any significant scheduling bottlenecks, partners like PPS can now manage installs for Visa issuers. For qualifying processor clients, Visa provides a streamlined EMV implementation path for select chip card profiles. PPS is the first processor to make such a program available to its financial institution clients. To qualify for the streamlined process, a processor must have successfully completed a prior U.S. chip issuance project with Visa as well as meet other eligibility requirements. PPS enables banks and credit unions to consolidate card processing services with a single point of contact for settlements, adjustments, and reconciliations.

Fiserv Announces Latest Account Processing Client

Fiserv announced UMassFive College Federal Credit Union selected the Portico account processing platform and other integrated banking solutions. The credit union has expanded its relationship with Fiserv to offer banking via mobile devices with Mobiliti and Mobiliti: Tablet. In addition to Portico, UMassFive currently utilizes Virtual Branch® for online banking and bill payment, Card Services Debit Processing and Prologue™ General Ledger. The “Portico” provides an advanced technology in a cost-effective ASP environment that’s ideal for a wide range of credit unions. Tight integration between Portico and Mobiliti and Mobiliti: Tablet allows for a compelling interface and experience that helps to drive increased member loyalty across both the mobile and tablet channels.

PreCash Users Can Now Pay eBills with Cash

PreCash launched its “Evolve Money” online and mobile app, allowing consumers to pay more than 10,000 bills without needing a bank account, credit, debit or prepaid card. This allows consumers to pay their bill for free or get a same-day, expedited bill payment at little cost. Cash-based consumers now can make fast, affordable bill payments online or from the convenience of a smartphone. The “Evolve Money” app also offers a payment management tool that tracks and keeps a history of all transactions. With this feature, cash paying users can manage their bills and finances with tools often only available to bank and credit card customers. The requisite “REloadit Packs” can be purchased for $3.95, and “Evolve Pay Bucks” for $3.00.

Virtual Piggy Facilitates Mobile Chilli Payments

Virtual Piggy will provide its youth-friendly payment system to Mobile Chilli, empowering Mobile Chilli to offer a more secure and complete customer service for their U18 users. Mobile Chilli is a leading and trusted provider of mobile content, offering ringtones from top artists, mobile games, and over six million music tracks for download. They offer scores of excellent content thanks to partnerships with Universal Music, Sony, EMI, Warner Music and game companies. Their service is acclaimed for being fully transparent and having no subscriptions required. 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.

Downward Trend Continues on Unemployment Front

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4%. The number of unemployed persons, at 11.5 million, and the unemployment rate, at 7.4 percent, edged down in July. This, according to the U.S. Bureau of Labor Statistics, also showed the number of long-term…

HybridPayTech Deploys Vodafone mPayments

HybridPayTech mobile payment space selected Vodafone’s global machine-to-machine (M2M) platform to provide connectivity for its pioneering mobile payment service. The service allows businesses to equip mobile employees with smartphones or tablets that can securely process credit and debit card payments globally using Vodafone’s network. This will allow businesses to fully embrace mobile payments for the first time while also introducing new revenue stream and improving the customer payment experience. HybridPaytech provides the world’s first completely secure, end-to-end mobile payment service that can process both credit and debit card transactions.

Loomis Implements Fiserv Item Processing Solution

Fiserv announced Loomis Armored US doubled its item processing volume in 2012 to an average of more than 7 million items a month. Loomis is the international leader in the cash handling services industry and implemented Branch Source Capture™ from Fiserv in 2007 to build its high-volume item imaging business, which automates processing in an outsourced vault environment for retailers and financial institutions. Loomis uses Branch Source Capture from Fiserv, a Web-based solution that facilitates remote capture, item correction, batch and deposit balancing, and image quality control. Loomis serves some of the nation’s largest banks, which often require highly customized information for their corporate and government customers. Fiserv customizes the output needed by Loomis’ bank cash vault clients – scanning, correcting and balancing check deposits to the exact specifications requested.

JetPay Inks Agreement on Flexpoint Ford

JetPay® Corporation announced that Flexpoint Ford, a private equity firm focused on the financial services and healthcare sectors, signed a definitive agreement on August 22, 2013 to invest up to $40 million in the company through the purchase of Series A convertible preferred stock. This investment will be used to retire up to $16 million of currently outstanding debt with the remainder available to invest in the company’s growth. The transaction is expected to close in the next 45 days.

MoneyGram Renews Another FCU Agreement

MoneyGram renewed its official check processing agreement with Mountain America Credit Union. This agreement includes the signing of a multi-year contract extension to offer processing and program management for Mountain America’s official bank checks. It also leverages MoneyGram’s PrimeLink® Official Check outsourcing solution, which includes daily balancing and reconciliation, inventory management, real-time updates and a state-of-the art online platform. MoneyGram has worked with Mountain America since 1997 in support of Mountain America’s official check program and through its efforts has helped the company prevent fraud losses through timely detection of fraudulent transactions.

Supermarket Chainto Pilot Paydiant mWallet

Paydiant cardless ATM access and offer redemption platform announced that Harris Teeter, Inc., a Mid-Atlantic grocery chain that operates over 200 stores in eight states and the District of Columbia, will deploy a pilot of Paydiant’s white label mobile wallet as part of their Express Lane™ online shopping service in Matthews, N.C. beginning this month. The pilot store is located in Matthews Festival Shopping Center at 1811 Matthews Township Pkwy. The initial deployment will allow Harris Teeter Express Lane customers to use the Harris Teeter mobile wallet called “HT Express Pay” to pay for groceries ordered online. Payment will occur from within a customer’s vehicle at Express Lane curbside pick-up locations. Once the Harris Teeter mobile wallet app is downloaded to the customer’s iPhone® or Android™ smartphone and payment cards are linked to the wallet, the customer will simply scan a QR code presented to them on a Verifone® handheld mobile point of sale device. From there, the customer uses the mobile wallet to choose which of their major credit cards to use to complete the transaction, taps the “pay” button, and then a digital receipt is automatically sent to the customer’s mobile device.