Ingenico and Nets Launch Mpos Solution

Ingenico payment solutions entered into an agreement allowing Nets to launch new payment solutions for small merchants, including a mobile Point Of Sale (mPOS) solution, transforming smartphones and tablets into secure payment terminals. Nets and Ingenico will provide a fully operated solution from the secured card reader to the processing of the transaction. Nets will use the mobile commerce platform provider ROAM, an Ingenico subsidiary and leading mobile commerce platform provider, to implement the solution. Nets will offer a dedicated application and a secured pocket format card reader with Bluetooth connection to use with a smartphone or a tablet device.

Discover Shows Consumer Spending Caution

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor dropped by one point in May to 92.6, as consumers reported higher confidence in the economy, but lower confidence in their personal finances. While overall spending intentions stayed the same, consumers were more likely to increase their discretionary spending in areas such as home improvements, personal…

First Data Partners Mutual of Omaha Bank on mPayment

Mutual of Omaha Bank is expanding its portfolio of solutions for local merchants and small businesses with a mobile solution for processing payments through First Data. The Bank will deploy “Pogo>” mobile payment solution that enables credit, signature debit and cash acceptance anywhere in the U.S. the merchant has wireless coverage. The “Pogo>” solution allows merchants to convert their Web-enabled smartphones or tablets into POS devices through the use of a mobile application and a secure mobile card reader. The solution leverages First Data’s proven technology, security, infrastructure and broad distribution channel and will complement Mutual of Omaha Bank’s existing portfolio of merchant and small business banking solutions.

Safetypay & GlobalCollect Partner, Tap Merchant Segment

Safetypay and GlobalCollect announced their global partnership agreement. The partnership extends the reach of both organizations in markets around the world, while providing the companies the ability to provide their customers a more secure and seamless payment option. SafetyPay will allow merchants to offer goods and services to customers who do not have internationally accepted credit cards; don’t want to use credit cards and those without credit cards with sufficient funds in their bank accounts.

Greater Nevada Credit Union Deploys Fiserv Processing

Fiserv announced that Greater Nevada Credit Union (Greater Nevada), based in Carson City, Nev., has selected the DNA account processing platform from Open Solutions, now part of Fiserv. Recognized by industry leading analysts for its best-in-class technology, user experience and breadth of functionality, DNA from Fiserv is the first relationship-centered core banking platform built for global collaboration. DNA is a 24/7 continuous, real-time platform that employs a relational data model designed around the person, not the transaction.

Financial Mobility Summit Announces Speakers

The Financial Mobility Summit announced its slate of speakers for the inaugural FM Summit. Held in Las Vegas August 13-14, co-located with The Prepaid Press Expo, the sixth annual Summit will explore the world of mobile payments convergence, where prepaid debit and gift cards, loyalty and marketing programs, alternative banking, gaming, top-up services and e-commerce meet on a mobile device. It will also address the evolution of the mobile wallet, mobile bank accounts, mobile marketing, mobile commerce, and more. Retailers, merchant acquirers, wireless resellers, agents, distributors, prepaid providers and financial services companies will learn how mobile payments can transform their businesses. Speakers will include the Giftango president and execs from CashStar, CHARGE Anywhere, Clutch, Corduro, CorFire, Discover, Gyft, Heartland Payment Systems, ISIS, JunoWallet, LevelUp, MetroPCS, Mocapay, Sprint/Boost Mobile, Sutherland Global Services, VeriFone, Vesta, Wipit, and more. Industry analysts from Mercator Advisory Group and Yankee Group will also be presenting.

DFC Global Settles with Regulator

DFC Global diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years announced its subsidiary Dealers’ Financial Services reached a settlement with the Consumer Financial Protection Bureau (“CFPB”) regarding certain aspects of its business. As previously disclosed, the CFPB conducted a review of the Military Installment Loans and Educational Services (“MILES”) program, an automobile finance program whereby the Company’s subsidiary, Dealers’ Financial Services, LLC, is a service provider for third party lenders. The CFPB cited violations by DFS of the Consumer Financial Protection Act for deceptively marketing the prices and scope of certain add-on products. Without admitting or denying any of the facts or conclusions of the review, DFS agreed to a consent order with the CFPB to amend its practices in line with recommendations made by the CFPB, and to provide financial redress in the form of a $3.3 million restitution fund to be distributed to past and current DFS customers. The Company established a reserve for the restitution fund in a previous quarter.

APR Sees Hiccup in Downward Trend

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs saw the most change in June since January, dropping .04% to 14.95% after averaging a .04% change over the past year. This offers continued momentum to the ebbing 2013 APR credit card averages. Compared to 1H/12, when the monthly average dropped from 14.95%-14.87% from January to June,…

Green Dot Class Action Litigation Dropped

Green Dot Corporation announced the United States District Court for the Central District of California dismissed with prejudice the federal securities class action that had been filed against the company, Steven W. Streit and John L. Keatley in July 2012. On May 2, 2013, the Court granted a motion to dismiss all of the claims asserted in that action, and the plaintiffs subsequently agreed to voluntarily dismiss the case with prejudice rather than amend their complaint. No payments were made to the plaintiffs in connection with the dismissal.

WorldPay Inks Latest RiskGuardian Client

WorldPay payment processing, risk management and alternative payments extended its relationship with Kobo, a global leader in eReading, to implement RiskGuardian, a high specification risk management solution. Kobo, which had already successfully implemented WorldPay’s Payment Gateway and acquiring services, required an expert partner to ensure they were protected against fraudulent transactions and resulting chargebacks as the company continues to expand into the US market. Kobo offers more than 3.5- million eBooks, magazines and newspapers to millions of Readers in 190 countries. The company recently announced that it has grown its user base to 14.5-million, with 15% of its Q1 growth coming from the US. The company needed to ensure its transactions were secure.

Prepaid Industry Leaders Set for Convention

The Prepaid Press Expo announced its slate of speakers for “The Prepaid Press Expo ’13” to be held at in Las Vegas August 12-13. Starting with a Keynote Address by Eric Dumois, Sr. Product Manager, Financial Services, MetroPCS. Dumois manages and executes the MetroPCS Financial Services portfolio, which includes general purpose reloadable products, mobile banking solutions and mobile commerce strategy. He has successfully created and launched numerous prepaid card products including personal use and gift cards, international long distance programs, and custom prepaid programs. Other sessions will include speakers from a diverse group of companies that bring first-hand expertise and knowledge of the prepaid market, including AccountNow, American Express, CARD.com, InComm, iSend, NetworkIP, Nielsen, Plastyc, Transaction Wireless, and many other prepaid providers and professionals.