ROAM, an Ingenico company and mobile commerce platform provider, and iPayment acquirer, announced a new program in which iPayment will use ROAM’s mobile commerce platform to deliver a suite of mobile point of sale (mPOS) solutions to its merchants throughout the United States. ROAM will provide iPayment merchants with a complete end-to-end solution, including the G4X Secure Mobile Card Reader, ROAMpay X4 Mobile POS Application and the myROAM management portal. ROAM’s platform capabilities support the largest number of mobile devices of any mPOS provider, including iOS and Android based smartphones and tablets. Its core platform assets – secure readers, applications to support mobile card acceptance, PCI compliance, real time data exchange, and merchant onboarding – are available as turnkey solutions that can be deployed as is, or as complete white label solutions offering branded hardware, applications and support tools.
Deductr business expense tracking and reporting system for small business owners and hyperWALLET Systems will integrate their respective services to provide customers a way to pay for, track and record business expenses at POS. Users of hyperWALLET’s prepaid cards can now simply swipe their cards at a merchant’s point of sale, enabling their purchase information to automatically be imported into Deductr’s online software for automated expense tracking. This one-step process eliminates the tedious and time-consuming manual receipt tracking efforts that typically hinder business owners from claiming all their tax deduction entitlements. hyperWALLET’s integration with Deductr further enhances a cardholder’s experience as they can now effectively manage their business expenses in a simple, hands-off manner and realize the full potential of their tax deductions and entitlements.
WePay credit card acceptance solution introduced Veda social risk engine that uses algorithms deployed within WePay’s internal system to evaluate the risk of potential merchants and catch fraudsters before they can act. WePay’s Veda has been leveraging social data to measure merchant risk. In that time, the company has been able to catch 300% more in attempted fraud. In just six months, the patent-pending technology behind Veda has stopped more than $30 million in attempted fraud. WePay does not need to use the traditional methods of freezing customer’s money to defend against fraud losses, opening the doors to providing next day payments to its merchants. Veda, uses data from social networks such as Facebook, Twitter and Yelp coupled with proprietary algorithms to quickly mine and analyze a merchant’s footprint and assess risk. It uses pattern recognition, integrated support data, and automatic cross-referencing based on just five fields of information to analyze risk and provide a better customer experience in the process.
Gyft mobile gift card platform added support for bitcoin purchases of gift cards on the Android platform, through its partnership with BitPay payment processor for bitcoin. Customers are now able to buy mobile gift cards using bitcoins and redeem them at over 50,000 physical retail locations across the USA including GAP, Lowes, Sephora, GameStop, American Eagle, Sports Authority, Nike, Marriott, Burger King, Fandango, Brookstone, and many more household brands. Users just download the Gyft app, select bitcoin as the payment method at checkout and make the payment from the bitcoin wallet.
SunGard launched its IntelliMatch Operational Control solution for ATM & Card Reconciliation. This helps financial institutions achieve smarter operational efficiency by streamlining their ATM and Card reconciliation processes to help minimize costs and reduce risk. SunGard’s IntelliMatch Operational Control helps financial institutions deploy enterprise matching and reconciliation solutions. This helps with agile business growth through rapid on-boarding of new reconciliations, consolidation of infrastructure and processes for a lower total cost of ownership, and optimization of processes for greater business efficiency.
Western Union global payments has won three separate awards for its stored-value programs. They include a PayBefore Europe Best-in-Category Award for “Best Prepaid Incentive, Reward, Rebate or Loyalty Card Program” for the Western Union MyWU Prepaid Card; The PayBefore Award for “Best Network-Branded Gift Card,” a nod to the company’s unique “Gift and Greeting Card” program in the U.S.; and the Banking & Payments Asia Trailblazer Award for “Product Excellence in Prepaid Payment” for the introduction of general-purpose reloadable (GPR) accounts in the Philippines and India. The platform enables the company to introduce new stored-value solutions in markets around the world by joining forces with local companies.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data electronic commerce and payment processing released its “SpendTrend” analysis for April 2-29, 2013, compared to April 3-30, 2012, tracking same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations. Year-over-year dollar volume growth increased 5.1% in April, a slowdown from…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies cashless payment solutions posted its fiscal third quarter results with a 19% increase in total revenues to $9 million, including 26% increase in license and transaction fee revenues (“recurring revenues”) to $7.6 million, which represented 84% of total revenues for the quarter. Also, USA Technologies reported a 32% increase…
FIS will be showcasing its Mobile Wallet with Cardless Cash Access at FinovateSpring 2013. A white-labeled, cloud-based mobile payment and offer redemption solution that allows financial institutions to fully brand and manage the customer experience, while offering consumers convenience and best-in-class security. The FIS Mobile Wallet enables the issuer to facilitate mobile commerce, maintain control of customer and transaction data and, most importantly, keep an institution’s brand at the center of the customer experience. Consumers benefit from the convenient and easy-to-use mobile solution as well as financially from coupons, loyalty programs and merchant-funded rewards.
The Electronic Transactions Association (ETA), the trade association for the global electronic payments industry, and SCIL-EMV Academy, America’s EMV Training Experts, announced a new EMV and mobile payments training and education initiative. Designed exclusively for ETA Members, the program provides technical and business information and training to help the U.S. payments industry migrate to the new EMV chip based credit and debit cards. Initially, SCIL-EMV Academy will deliver five core workshops. EMV courses will be arranged privately onsite, online, and at SCIL-EMV Academy public workshops across the USA. The first EMV workshops will be administered in May, and will be available on ETA and SCIL-EMV Academy websites. For more information, ETA members should contact Stewart Chalmers at firstname.lastname@example.org or by telephone at 818-681-3588.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 7.75%. in February to an adjusted $848B, it slowed in March to $846B. Although rather stagnant against recent months, March revolving credit outstanding is way down from the year ago figure of $865.7B- an average figure over what would be the ensuing…
CPI Card Group financial, EMV, commercial card production has been awarded U.S. Patent No. 8,419,889 for its innovative secure card packaging technology utilized in CPI’s Ultra Secure Pack™ products. The technology allows CPI to offer a superior, tamper proof, cost effective product for point of sale card activation applications including open loop prepaid cards. CPI products covered by the patent will now be marked with U.S. Patent No. 8,419,889 to properly indicate CPI’s protected position and extend the benefits to their customers.