[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In their series of weekly year-end industry trend reports R.K. Hammer discusses in their latest report how fee income continues to climb higher in terms of top line revenue contribution. For decades, interest income on prime/super prime cards had always contributed the largest portion of the card industry’s revenue streams; just…

Nedbank Launches New mPOS Solution

Nedbank launched its “PocketPOS” EMV certified mobile POS solution, allowing businesses to process payment card transactions on a smartphone connected to a secure card reader. It is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device. PocketPOS is designed to operate where EMV ‘CHIP & PIN’ technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN. The “PocketPOS” solution is available as a small device with a secure PIN pad that requires the merchant to capture an email address into the smartphone application or as an alternative device with the ability to print out a physical receipt, much like in the case of a traditional POS.

GE Capital Partners Penske Automotive on Consumer Financing

GE Capital Retail Bank and Penske Automotive retailer partnered to provide a private label consumer credit card program to customers of Penske Automotive Group dealerships. GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will service the account and manage the credit card program. Qualifying Penske CarCareONE cardholders* can take advantage of promotional financing offers such as six-month deferred interest financing on purchases of $299 or more and 12-month deferred interest financing on purchases of $750 or more.

NCR Keeps Momentum, Posts 4Q/12 Revenue Up 3% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NCR Corporation posted a 4Q/12 revenue of $1.64 billion, up 3% from 4Q/11 ad non-GAAP income from continuing operations of $181 million, compared to the year ago figure of $173 million. NCR’s Financial Services segment generated fourth quarter revenue of $912 million compared to $908 million in the fourth quarter of…

PCI Security Standards Council Establishes Guidelines

The PCI Security Standards Council (PCI SSC) Participating Organizations selected cloud computing as a key area to address via the SIG process. More than 100 global organizations representing banks, merchants, security assessors and technology vendors collaborated on this guidance designed to help companies identify and address the security challenges for different cloud architectures and models, and understand their PCI DSS responsibilities when implementing these solutions. The PCI DSS Cloud Computing Guidelines Information Supplement builds on the work of the 2011 Virtualization SIG, while leveraging other industry standards to provide guidance on Cloud Overview, PCI DSS Considerations and PCI DSS Compliance Challenges, along with Additional Security Considerations.

LevelUp and ShopKeep POS Partner on m-loyalty platform

ShopKeep POS iPad POS solution for small businesses partnered LevelUp mobile loyalty payment to introduce its integrated mobile payments processor and build loyalty right from the store’s POS system. This lets merchants ring up sales and accept LevelUp payments right from their ShopKeep POS iPad register without switching devices. ShopKeep POS consolidates the LevelUp transactions with all other transaction information into one simple report that can be accessed anywhere. Merchants benefit from LevelUp’s 0% payment processing fees, and can participate in loyalty programs to retain customers.

MasterCard Advisors Partners Data Analytics Firm Mu Sigma

MasterCard Advisors and Mu Sigma decision sciences and analytics firms partnered, combing their aggregated and anonymous purchase behavior insights with advanced analytics and expertise, respectively. MasterCard Advisors and Mu Sigma will jointly develop innovative analytic products to enable companies of all sizes to successfully solve their business challenges – like acquiring customers and increasing customer loyalty. With this, MasterCard has acquired an equity stake in Mu Sigma for undisclosed terms.

Fifth Third Bank Launches mDeposit Service

Fifth Third Bank announced the introduction of mobile deposit functionality for iPhone and Android users. After customers update their Fifth Third Bank, they will then choose the “Deposit Check” icon, take a photo of the front and back of the check, choose the account to deposit the check and confirm the amount. A confirmation will display once the item is accepted. Fifth Third launched mobile banking in 2009 and now offers customers the ability to view account balances and transaction history, pay bills, transfer money between Fifth Third Bank accounts, locate the nearest Fifth Third Banking Center or ATM and make check deposits.

MoneyGram Posts Good News on FY & 4Q/12

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MoneyGram posted FY/12 total revenue was $1,341.2 million, up 7% from the year ago figure. Meanwhile, total fee and other revenue increased 8% to $1,328.6 million from $1,230.9 million in the prior year and money transfer transaction volume increased 14%. This volume increase was thanks to an 18% growth in sends…

eLayaway Renews Payment Agreement with Minnesota Vikings

The Minnesota Vikings extended their agreement with eLayaway to process their 2013 season ticket renewal program for their fans for the 5th consecutive year. This makes it possible for Vikings’ fans to use layaway to pay over time for their season ticket renewals. Season ticket holders can choose to have the payments automatically drafted from their checking accounts or pay cash at any MoneyGram location. eLayaway’s intuitive calculator lets the user set their payments for monthly, bi-weekly or weekly withdrawal. The Vikings can continue to offer a layaway payment option that makes season tickets easier to afford for fans; automate the collection of payments for a seamless payment process; increase management efficiency while eLayaway offers FREE Customer Service; and realize reduced transaction fees as compared to credit card processing.

Discover Spending Monitor Stays Flat M/M

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor dropped a third of a point from 91.1 to 90.8 in January, as more consumers plan to increase spending on gas and groceries and home improvement purchases. This as consumers who expect the U.S. economy to improve declined by 1 percentage point to 31% and those…

Acculynk Payment Gateway Partners Spindle

PayLeap, Acculynk’s payment gateway and payments processing solution, signed a strategic agreement with Spindle mobile payments solutions. With this, they will integrate their respective platforms to better serve the global mobile commerce market. The PayLeap payment platform provides multi-functional gateway, acquiring and card processing services for e-commerce, face-to-face, recurring, and online bill payments. Catering to merchants, resellers, and developers, PayLeap provides a secure, single-source solution which includes fraud management, tokenized cardholder data vault, secure checkout with LeapLock, plus developer friendly tools and mobile payment capabilities.