U.S. Bank and Polaris, a leader in the power sports industry, have created the Polaris Visa card where customers can earn points for every dollar spent at Polaris dealerships and for everyday purchases. With the Polaris Visa, cardholders earn points on all of their purchases and can redeem those points for Polaris Cash. For example, for every dollar of net purchases spent on the card at a Polaris dealership, they will earn two points. They also earn two points at gas stations and one point everywhere else. Once a cardholder earns 2,500 points, they can redeem the points for $25 in Polaris Cash, which can only be used at participating Polaris dealerships.
Retail Velocity signal management and retail execution announced the expansion of their Velocity POS Data Sharing Knowledgebase. Designed to educate the CPG manufacturer community on the availability of direct POS (or ePOS) from over 300 retailers and distributors, registered visitors to the Retail Velocity website can quickly identify what type data each Retailer makes available to their manufacturer partners. Velocity® (http://www.retailvelocity.com/solution/repository.php) is an enterprise Demand Signal Repository (DSR) that delivers retail insights and in-store visibility providing a single source of “Big Data” analytics for consumer goods manufacturers to drive their sell-through and profitability at the store, item and SKU level. Velocity provides actionable insights to all areas of the manufacturer including C-Level suite, category management, sales, market research, customer logistics, finance, merchandising and demand planning.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] When superimposed over one another, unemployment and consumer credit outstanding swells and lulls indicate very positive correlation. With the total outstanding revolving US consumer credit down 2.4% in March to an adjusted $846B, it erased all positive momentum in April, springing to $849.8B. Meanwhile, payroll employment was up 175,000 in May…
FreedomPay announced that Ben & Jerry’s is deploying the FreedomPay Commerce Platform across their domestic US franchise scoop shop system. The cloud-based FreedomPay Commerce Platform puts Ben & Jerry’s on the fast track of technology innovation. FreedomPay delivers a high-performance, secure user experience driven from the cloud to any device, anytime, anywhere. The platform seamlessly bridges the gap across in-store, web, and mobile by interconnecting POS systems, transaction hosts, incentive engines, and other disparate systems to a cutting edge transaction superhighway. FreedomPay is an early leader in true Point to Point Encryption (P2PE) for MICROS point of sales systems including support for NFC, EMV and magnetic stripe in a single solution.
USA Technologies wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries earned the top award for the vending category at the 2013 Connected World Value Chain Awards last week in Santa Clara, California. The Connected World magazine Value Chain Awards honor the most successful corporate adopters of M2M technology and connected devices as well as the solution providers that help make their technology adoption a success. The awards recognize the process of combining multiple technologies, such as device-connectivity hardware, network services, as well as application software and infrastructure, to create a winning solution for the end customer based on quantifiable results. Entries were judged by a panel of industry experts and analysts.
ULUL announced Collis Brand Test Tool, developed by UL’s Transaction Security team, has passed qualification by MasterCard for Contactless Network Interface Validation (NIV) testing. To correctly process PayPass™ transactions, acquirers need to validate their network interfaces with MasterCard. NIV testing checks that authorization and clearing interfaces are in accordance with the current MasterCard requirements. NIV Subset 7 ensures that acquirers send correctly formatted PayPass™ M/Chip authorization requests and successfully process the resulting response messages. UL Transaction Security has recently implemented the NIV Subset 7 in the Collis Card Simulator, which is an integral part of Collis Brand Test Tool. This new implementation includes two brand new card simulations related to mobile behavior (MCC_420 and MSI_420) to cover the NIV Subset 7. Now the Collis Brand Test Tool is now fully equipped to support acquirers in the full range of terminal and the network interface validations, as it is now qualified for both contact and contactless NIV testing.
American Express Company appointed Jeffrey C. Campbell executive VP and CFO to lead Finance organization and represent American Express to investors, lenders and rating agencies. To sit on the Operating Committee, as well, Campbell joins American Express from McKesson Corporation, where he was executive vice president and chief financial officer of the largest health care services company in the United States. Before joining McKesson, Mr. Campbell served as chief financial officer of AMR Corporation and its subsidiary, American Airlines, where he helped the business successfully navigate significant financial challenges. Prior to this he was a CPA with Deloitte, Haskins and Sells. He is a member of the board of directors of Hexcel Corporation and the San Francisco Chamber of Commerce. He holds an A.B. degree in Economics from Stanford University and an M.B.A. from Harvard University.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index for the U.S. was up 0.1% in May to 95.2 (2004 = 100), following a 0.8 percent increase in April, and a 0.3 percent decline in March. The LEI six-month growth rate remains steady, suggesting that conditions in the economy remain resilient. Widespread gains in…
CTS North America branch automation solutions increased the speed of its LS515-SE dual-pocket bulk check and item scanner by 50 percent, further increasing efficiency and streamlining operations for high-volume branches, regional processing centers and remittance and lockbox applications. For financial institutions, the speed upgrade adds to the LS515-SE’s existing durability and provision of increasing back office efficiency at a lower cost and smaller size than competing solutions. Highly engineered front and rear check imaging technology allows the LS515-SE to process 180 documents per minute (DPM), resulting in an even higher rate of production while maintaining its reliability and low jam rates. As a result, banks and credit unions see an immediate improvement in back-counter operations and high-volume bulk check and item processing.
MasterCard and the Western Union Company announced a dedicated international payments service that will increase the flexibility with which small and medium-sized businesses can conduct cross-border trade. The new direct foreign-exchange capability will be provided by Western Union Business Solutions and available to all companies that use the MasterCard Business Network, an online resource that helps streamline business operations and enhance productivity for small and mid-sized businesses. Customers will have access to a dedicated online foreign payments portal at www.mastercardbusinessnetwork.com, which will feature the ability to send international payments in over 135 currencies directly from their bank account to a foreign recipient’s bank account from a computer, tablet or mobile phone; Real-time quotes and transparent and competitive foreign-exchange pricing; Dedicated customer service available 24 hours a day, seven days a week.
Seattle area small business owners believe that the Seattle economy is stronger than the national economy, according to the 2013 Chase-Seattle Metropolitan Chamber of Commerce Pulse of the Small Business Survey. With this, 83% of Seattle area small business owners feel that their local economy is stronger than the national economy compared to 55 percent nationwide while 56% of Seattle area small business owners believe the national economy is getting better, compared to 34% nationwide. Additionally, 34% expect their businesses’ revenue to increase by more than 10 percent while 52% reported an increase in revenue over the past 12 months, compared to 44 percent nationwide, fueling Seattle area small business owners’ positive economic outlook. The survey results were released today by Chase at a Seattle Metropolitan Chamber of Commerce event. Also, 42% of Seattle area small business owners believe that their local economy has had a positive impact on the growth of their business, which is 22 percentage points higher than those nationwide. Over the past year, Seattle area small business owners have increased contracts and their customer base (34 percent), expanded products and services offered (33 percent) and hired more employees (22 percent) – all signs of a strong local economy.
ACI Worldwide payment system released the results of a new survey of banks, retailers and payment processors that sheds new light on industry trends related to EMV, mobile payments and banking, fraud and innovation. With this, ACI found that those intimately involved in banking and payments believe that EMV is poised to drive the adoption of mobile technology with 49% indicating the U.S. migration to EMV will result in consumers turning away from card-based transaction in lieu of mobile payments. Moreover, 32% noted that rolling out hardware updates (like POS terminals, ATMs, etc.) would present the largest issue; 26% believed the biggest challenge would be educating and training business constituents along with driving consumer awareness and adoption; and 24% said they were most concerned about meeting compliance and liability shift deadlines. When asked what trend would have the biggest impact on the banking and retail, 19% disclosed it would be the adoption of mobile banking; 12% believed more banks will offer online/mobile bill pay services; and 11% believed that industry and regulatory mandates will slow mobile rollout.