Accourt Limited consultancy services announced that Peter Trembling as a Partner, bringing with him over 20 years’ experience in International Cards and Payments. He served in roles with American Express, five years at MBNA International and was the founder of two specialist card consultancy practices. He has advised banks and card issuers in every continent around the world covering over 30 countries, as well as brokering co-brand card partnerships for over 50 rights-holders in airline, retail, travel, and sport. Peter has operated as a consultant to MasterCard, Visa and American Express and was the Chairman of the inaugural MasterCard Annual European Card Programme of the Year Awards. His speciality is in working with rights holders and assisting them in optimising the value of their card and payment opportunities, whether that be through a traditional co-branded or affinity relationship or from the advent of new technology such as mobile payments, cashless stadia and arenas, virtual cards etc.
Discover is now offering cardmembers the opportunity to earn 5% Cashback Bonus on up to $1,500 in purchases at home improvement stores. Cardmembers can start earning 5% Cashback Bonus at home improvement stores now through June 30 by signing up for 5% online at discover.com, or by calling 1-800-DISCOVER (347-2683). After making $1,500 in home improvement purchases, Discover cardmembers still automatically receive their standard cash back on all other purchases. Discover is also offering its cardmembers exclusive ways to earn between 5%-20% on purchases made through ShopDiscover, the online shopping portal featuring more than 200 top online retailers. Starting April 11 through May 12, cardmembers can take advantage of over 20 merchant partners that will increase Cashback Bonus amounts.
Fiserv financial services technology announced its Common Origination Platform and LoanServ solutions have been integrated to provide real-time, full-circle loan boarding processes for all mortgage, lines of credit and installment loans. The integration improves efficiency for all users by sharing data points and eliminating potential errors caused by manual data entry. With an increasing number of financial institutions supporting both production and servicing operations, the integration of the Fiserv solutions provides a consolidated view of each customer as well as a single view of risk for their loan portfolios. The integration eliminates duplication within processes and the business management of the systems. With the LoanServ solution, data transactions are available online, in real-time so lenders don’t have to contend with the limitations associated with an end-of-day batch processing cycle.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data released its SpendTrend analysis for March 1-29, 2013. Compared to March 2-30, 2012, it tracks 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 6.0% in March, up from February’s 4.6% growth, as the…
Fiserv financial services technology solutions has launched a payment accuracy and fraud solution to reduce improper payments for U.S. federal government agencies. The professional services engagement will allow government agencies to reduce the overall loss of cash associated with improper disbursement and recovery of funds, thereby enabling that money to instead be used for citizens and tax-payers. Improper payments can include payments to the wrong person, for the wrong amount, or to citizens who are no longer eligible for benefits. An estimated one-third or more of improper payments are due to fraud, while two-thirds are the result of errors or incorrect information. Using a rigorous process and data analysis, the Fiserv solution finds and eliminates process variation, waste and opportunities for error that may result in payment inaccuracy.
PayOne mobile payments and carrier billing has been awarded another patent by the US Patent Office on its “PayConnect” technology platform, “instant wallet” capability, and intellectual property serving the mobile commerce and digital payments market. The newly awarded patent, which was filed in November 2010 for invention number 8,379,815, covers mobile payments, fraud control and identity verification for online and in-store transactions. This new patent adds to an already robust portfolio of eight patents awarded to PayOne related to mobile wallet, payments and carrier billing. PayOne’s complete patent portfolio can be found at http://www.payone.com/Patents. PayOne and the PayOne Global Carrier Network PGCN currently provides the ability for over 4 billion consumers in over 80 countries to utilize their mobile phones for secure digital mobile payments, typically with just 1-2 steps.
Vantiv payment processing for merchants and financial institutions of all sizes, announced that it was the first U.S. acquirer to complete MasterCard’s testing requirements to process EMV transactions for MasterCard, Maestro and Cirrus brands at both ATM and at the point-of-sale locations. Vantiv’s integrated processing platform continues to enable the Company to quickly integrate new technologies such as EMV. This, combined with Vantiv’s comprehensive suite of payment solutions, represents the Company’s continued investments in its core processing platform, emerging technologies and strong execution capabilities. Vantiv’s network drives nearly 13,000 ATMs and has been certified to process EMV transactions on the NCR APTRA(TM) Edge ATM software platform. Its EMV processing will allows cardholders to conduct EMV transactions at selected ATMs.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up .1% in January to an adjusted $847.5B, it continued growth in February to $848B. Although rather stagnant against recent months, February credit outstanding is way up by and was up 7.75% from on the year ago figure of $798.6B, a super low…
Aconite chip and mobile software first commercial deployment of our mobile EMV scripting solution. Maintaining and updating the settings in mobile applications after being provisioned to handsets is a critical part of the end-to-end management of a mobile payment program, and is not something that is typically provided by an application provisioning system or Trusted Service Manager (TSM). Now a major European processor has selected Aconite’s Mobile Application Manager (MoAM) to support their mobile scripting needs, providing a low-cost, fast-track enhancement of their existing authorization systems to support the broad range of EMV scripts needed to manage EMV applications on a mobile NFC handset. Aconite’s Mobile Application Manager will support counter-resets, passcode changes and other scripts required to fully implement EMV in a mobile environment. The EMV Scripting features delivered by Aconite’s Mobile Application Manager are based on Aconite’s award winning Smart EMV Manager product which provides a wide range of capabilities out-of-the-box, and can be rapidly configured to support new functions, applications and script types without requiring complex integration or expensive customization.
Rakuten.com Shopping recently implemented MasterPass digital wallet service. Allowing users to use any payment card or enabled device to discover enhanced shopping experiences, the new service provides Rakuten.com shoppers a convenient and flexible way to pay via the website or on a mobile device. Shoppers can begin to use MasterPass immediately and will see further promotions on the service throughout the year as MasterPass will be increasingly marketed as an alternative and easy-to-use payment solution.
TransCard and FamZoo partnered to develop Unlimited Family Banking. The prepaid card offering is designed for families, with one predictable flat monthly fee for multiple prepaid cards used collaboratively by individual family members to share funds and develop financial responsibility. The cards are linked together and accessed online through FamZoo’s award-winning family finance software designed specifically to help parents teach kids good money habits. A product of TransCard’s innovative new Premier Select Suite of general reloadable prepaid accounts, Unlimited Family Banking allows financial institutions to offer a fresh new way to address the unique needs of parents who are raising teens and younger children. It focuses on teaching how to Earn Diligently; Spend Wisely; Save Patiently; and Give Thoughtfully.
Green Dot banking and payment solutions partnered UniRush to launch the RushCard Live Reloadable Prepaid Visa Card. The prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide is a cost-effective alternative to a traditional bank account. Available only at retail, it offers early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans. Customers also have access to fee-free transactions at more than 22,000 ATMs via the nationwide MoneyPass ATM network, worldwide merchant acceptance of Visa debit, online bill pay, and a mobile app which includes real-time views of account balances and transaction histories.