BitPay Expands Investment Round

BitPay bitcoin payment processing expanded its Seed round of funding by adding more angel investors, including Ben Davenport, Trace Mayer, and A-GRade Investments. BitPay now has over 3,200 merchants using its platform to accept bitcoin payments, and recently disclosed that in 2012 they processed over $3.3 million in bitcoin payments for its merchants. BitPay has developed significant expertise in this area, understanding all of the edge conditions and scalability issues that a company would face trying to use bitcoin, and this expertise puts BitPay way out in front of the bitcoin processing space. Having developed a suite of software tools that allow businesses to collect payments over the bitcoin peer-to-peer payment networ, BitPay can accept a payment from any country on earth, instantly, with zero risk of fraud.

Kovio NFC Deploys Symphony Teleca mAnalytics

Symphony Teleca Corporation has become a strategic development partner to Kovio NFC products and services. Symphony Teleca will leverage its expertise in the development of big data analytics platforms for retailers, brands, and consumer packaged goods (CPG) industries to co-develop mobile services and applications that enable marketers and advertisers to conduct dynamic and integrated NFC-based mobile marketing campaigns using NFC tags activated by consumers’ own NFC-enabled mobile phones. The development of NFC-based mobile marketing creates a new era in the way brand marketers engage consumers, drive conversion and build brand loyalty through opt-in, personalized, authentic, and contextual experiences at both point of purchase and point of use.

Bank of America Launches New Credit Card Rewards

Bank of America introduced its BankAmericard Better Balance Rewards card. Rewarding customers with up to $100 annually for responsibly managing their monthly credit card payments, the new card allows customers to receive $25 for every quarter that they pay any amount more than the monthly minimum due and make payments on time. Also, cardholders receive $25 quarterly cash rewards when payments are made on time and for more than the minimum amount due, $5 bonus per quarter for having another qualifying Bank of America account and can choose to have their cash rewards automatically credited to their card balance or deposited into a Bank of America checking or savings account or Merrill Lynch Cash Management Account with no annual fee.

Chase Platinum Business Focuses on Small Business

Chase launched a national advertising campaign to introduce Chase Platinum Business, offering dedicated customer support with free and discounted fees. Customers receive concierge-level service with an assigned banker and dedicated phone support. The advertising campaign features three Chase Platinum Business customers who tell their stories in extended-length videos and print and radio ads. This follows Mission Main Street, a 2012 effort that highlighted how Chase’s financing helped six entrepreneurs expand their businesses. Told from the business owners’ perspective, the videos capture the spirit of American enterprise.

Bancorp’s TPC Payables Prepaid Visa a Paybefore Winner

The Bancorp Payment Solutions Group announced its TPC Payables Prepaid Visa Card has been recognized as a 2013 Paybefore Awards winner. Recognized in the “Best Business-to-Business Prepaid Card” category, the Payments Company (TPC) facilitates electronic payments between businesses, vendors, and employees. Backed by its proprietary software and AP advantage ePay Network, TPC provides a complete accounts payable disbursement solution that includes software integration, vendor enrollment, payment processing, and reconcilement. The Paybefore Awards is now in its seventh year.

LevelUp Hits 1mm User Milestone

Over the past 4 months, LevelUp doubled its users to hit the 1 million user mark. In doing so, LevelUp implemented migration tools allowing merchants to transition their loyalty card programs over to LevelUp without losing any data. As more and more merchants ditch their plastic loyalty cards for LevelUp, their customers are eased into the mobile payment revolution. Also, when LevelUp users discover an offer on the LevelUp app, they can share it to Facebook for all their friends to claim seamlessly. Additionally, merchants are jumping on board with LevelUp White-Label, because it’s the first payment offering ever to give merchants a fully branded mobile payment app, along with the user scale and technology behind LevelUp. And again, as bigger merchants jump on board with LevelUp, so do their customers.

Plastiq Closes $6mm Funding

Plastiq online payments solution provider has closed a $6M round of Series A financing, jointly led by venture capital firms Atlas Venture and Flybridge Capital Partners. Investors from the previous round, NextView Ventures and Greenoaks Capital Management LLC, also participated alongside angel investors including Harvey Golub, former Chairman and CEO of American Express. The Plastiq online platform allows consumers to use their credit cards for payments in situations when they previously could not. Plastiq charges consumers a nominal fee for each transaction, historically charged to the merchant, for the added flexibility to strategically use their preferred credit cards. The Plastiq platform allows consumers and merchants to transact from anywhere in the world at any time from any internet-enabled device.

Balanced Processing Adds Bank Payments

Balanced Processing has always supported payments from major credit/debit cards and now supports payment through consumer bank accounts. “Balanced Bank Payments” offers developers a white-label, RESTful API for bank account payments. Buyers don’t need to be redirected away from merchant website/app and won’t be required to create a Balanced account to pay with their bank account. Also added are bank account verification helpers to our API. This on-site, white-label ACH/bank payments API uses the ACH network to debit a buyer’s bank account.

Value-Based Card Pricing vs. Cost-Based/Market-Based Pricing

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While some card issuers are offering special cardholder price discounting – no fees, low interest and balance transfers to raid competitors – none of these are really new initiatives. Given the lowering of outstanding card loans which many have suffered, we are surprised only that these strategies weren’t implemented far earlier.…

eProcessing Network Offers Enhanced Data Bill Payments

eProcessing Network announced its “ePNBillPay” online Bill Pay Solution is fully integrated with ePN Level III enhanced data processing. This allows merchants who want to expand their customer base to include large corporations (B2B) and Government entities (B2G to include Level III information as part of their invoicing and purchase order processes and qualify for some of the lowest interchange rates available. The Level III processing allows detailed transaction data passed through its Web Order Template for Level III processing and track Level III transactions. When a transaction is routed through any of the processing platforms compatible with the ePN Secure Payment Gateway, the system validates the pre-populated fields to determine Level III status.

ACI Worldwide Sales Up 81% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ACI Worldwide payment systems posted 4Q/13 sales of $309 million, up $138 million by 81% since the year ago figure, to which S1 contributed $81 million. Historical ACI sales increased $57 million by 33% from the year ago figure of $171 million. Meanwhile, 2012 sales totaled $766 million, up $210 million…

TIO Networks Partners First Data, Expands Services

TIO Networks bill payment processor expanded its services to First Data’s Money Network Prepaid Service to include bill payment as well as the purchase of prepaid telecommunication services. TIO’s platform enables Money Network prepaid account holders to pay their bills online as well as purchase minutes for their prepaid mobile phones. Money Network account holders are able to manage their bills online in one convenient place, viewing their payment history, making one-time payment or scheduling reoccurring payments for thousands of billers.