TSYS payment solutions and NetSpend general purpose reloadable (GPR) prepaid debit cards signed a definitive agreements by which TSYS will acquire NetSpend for $1.4 billion, cash. TSYS expects the transaction to be accretive to GAAP EPS for the first 12 month period following closing, excluding one-time acquisition related fees and expenses. NetSpend’s extensive distribution network provides consumers the ability to purchase prepaid debit cards at more than 62,000 distributing merchant locations, such as retailers, check cashers, convenience stores, grocers, insurance providers, tax preparers and many others. NetSpend currently serves more than 2.4 million accounts of which 46% are direct deposit.
Michael Waltrip Racing (MWR) has teamed up with CardStar from Constant Contact to give key sponsors and NASCAR partners an easy way to reward loyal fans through the CardStar app. MWR has a perfect opportunity to reach fans with targeted content and promotions through their smartphone. Race fans can become an MWR Insider anytime by downloading the CardStar app and the MWR Insider Card. The card gets them access to MWR merchandise and exclusive offers from partners and sponsors, like Aaron’s, 5-Hour ENERGY, and Monte Carlo Resort and Casino, right from their phone. The program will also drive foot traffic through geo-fencing capabilities that push special offers directly to the phones of consumers who are near participating local businesses. CardStar’s free mobile loyalty application is available on all major mobile platforms. CardStar has more than 3 million active users, and with users in all 50 U.S. states and 173 countries worldwide.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs did not experienced the typical post-holiday season plummet from January to February, holding at a steady 14.96% February average. Slightly higher than the 14.91% average measured the year ago period, the average credit card APR has settled just below 15%. This after a nearly 0.50% jump in…
Visa, in collaboration with mobile operators is set to demonstrate at the Mobile World Congress 2013 in Spain. Visa’s product showcase will provide attendees the NFC Mobile Payment Experience, for which it partnered with Telefonica, La Caixa and the GSMA to provide select Mobile World Congress attendees with a hands-on mobile payments experience. Also Visa and GSMA will release a new five-country study, “Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets,” offering insights on how mobile financial services can better support the complex financial lives of women at the base of the pyramid.
One Point Financial (OPF) ATM operator partnered Huntington Bank, allowing the bank customers to access their accounts with no fee by using ATMs at 88 Go Mart locations. The new ATMs are in addition to the existing 31 Huntington branches and 53 Huntington ATMs. OPF finalized an agreement with Huntington to brand the ATMs. The first ATMs will be placed in Go Marts beginning in early March while all 88 are expected to be placed by mid-March.
Virtual Piggy safe youth payments announced the addition of WorldPay as a payment gateway partner. Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management while empowering under 18’s to make purchasing, saving and other money management decisions for themselves. WorldPay is a major global leader in payment processing, handling an average of over 12 million transactions per day. WorldPay was the first UK bank to offer a full internet banking service and now operates in over 40 countries, making it one of Europe’s largest payment service providers. The company offers services across the entire payment value chain, including transaction capturing, merchant acquiring and transaction processing. The companies have completed the integration of their solutions, to which WorldPay brings 200 alternative payment mechanisms.
Computop payment service provider and SafetyPay online-banking payment solution allowing consumers to shop and pay directly from their bank account announced their strategic global partnership. Computop will now offer the SafetyPay solution on its “Paygate” payment platform, thus expanding its comprehensive range of secure payment options. SafetyPay allows those with an online bank account to shop and pay using their own currency from businesses. Now “Paygate” merchant customers can offer SafetyPay for secure online payment options.
Checkpoint Systems shrink management solutions, announced a new enhanced performance (EP) anti-theft EAS (Electronic Article Surveillance) food label for supermarkets that is certified to be microwave safe. The 4010 EP Food Label was designed specifically to protect fresh and frozen supermarket food. It has been certified as microwave safe and non-flammable by TUV Rheinland, an international service group that provides manufacturers with assessment and certification services to ensure product safety. The 4010 EP Food Label can be applied through high-speed source tagging at the point of manufacture, or through in-store tagging.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit having jumped 1.1% in November- its first decrease in two months- it was down 5.1% in December thanks in great part to the busy holiday shopping season. However, when compared with 4Q/11, consumer credit was up 6.5% in 4Q/12 and was up 6.25%…
Fiserv financial services technology announced that its Financial Crime Risk Management (FCRM) platform has been awarded a “Best-in-Class” rating in the Enterprise Support category in the CEB TowerGroup 2012 Anti-Money Laundering Technology Review. The FCRM platform also received high marks for front-end usability and back-end configurability. The report highlighted that CEB TowerGroup analysts were impressed by the layout of the interface, which facilitates streamlined workflow management. Fiserv was also highly ranked in the Detection Tools category, where the combination of behavioral profiling and analytics-based approaches in combination with flexible rules to identify potential money laundering behavior were highlighted as key strengths.
Tenants who rent their homes can now get financing credit for their on-time rental payments, including millions in a variety of lending opportunities, with Rental Kharma. Rental Kharma furnishes data to large credit bureaus and launched this new service to make it possible for renters to overcome this barrier. There are more than 100 million renters in the U.S., and Rental Kharma has developed its comprehensive, online platform for renters, letting them build their credit score by self-reporting the last two years of their payment history. The data is then provided to the large credit bureaus.
Wells Fargo redesigned its ATMs with a layout featuring ease of use and a modern design. With the upgrades now available on more than 500 machines across several states, the new interface will launch at all the more than 12,000 Wells Fargo ATMs by May. A “Balance Dashboard” features balances at-a-glance, if the customer chooses, for their most used accounts while the ATM “Cash Tracker” tool helps customers manage their finances and automatically appears on the main ATM screen. This feature allows customers to visually track their monthly Wells Fargo ATM withdrawals. Customers can also set a monthly withdrawal target and can view details about how much they withdrew the prior month and their average over the past 12 months.