WePay appointed Tina Hsiao, formerly of Intuit, Vice President of Marketing. She brings with her extensive experience with small businesses and her history of leadership across marketing, product management, customer care and finance will be invaluable as WePay continues to grow and gain market share in small business payments. Hsiao spent over 11 years at Intuit in their small business division, where she launched and led marketing for several high-growth products that helped small businesses acquire customers and manage their finances.
MasterCard partnered Excentus, by which MasterCard will become the exclusive payments partner of the Fuel Rewards Network™ (FRN) program. Allowing members to earn savings and reduce the price of gasoline at the pump, users can earn cents per gallon savings redeemable on their next fill-up.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Green Dot posted a 4Q/12 13% year-over-year increase in operating revenues to $138.6 million and full year operating revenues of $554.5 million, a 15% increase over 2011. Additional disclosure indicates total operating revenues on a GAAP basis increased 15% to $137.3 million from $119.1 million in 4Q/11; net income of $10.4…
MasterCard appointed Ron Garrow Chief Human Resources Officer and member of its Executive Committee, effective April 1. Garrow joined MasterCard in March 2010 as Group Head, Global Talent Acquisition Management and Development. Then he was named Group Executive of Global Human Resources Plans and Programs, which included oversight of Rewards, Workforce Programs, Employee Relations and Human Resources Services and Solutions. Garrow held various Human Resources leadership positions at Bank of America over a six-year period, culminating in the position of Chief Learning Officer. He also spent 19 years at Wachovia in various Human Resources roles focused on training, leadership and executive development.
GE Capital Retail Bank forged a multi-year extension with P.C. Richard & Son to provide a consumer credit card program. P.C. Richard & Son appliance and consumer electronics retailers has 65 locations, as well as an online store, has a long history of working with GE. Customers can apply for the P.C. Richard & Son Credit Card in-store or online and qualified applicants receive immediate approval for purchases with flexible financing promotions. GE Capital has helped major retailers and more than 200,000 small- and mid-sized businesses throughout the United States build consumer financing programs that support business growth and customer satisfaction.
Western Union announced its partnership with Advent Financial to offer quick and easy access to tax refunds on the “Get It Card” prepaid card. Those filing their federal and state tax returns at tax-return preparation offices offering financial products through Advent can elect to receive their refunds on the Get It Prepaid MasterCard, reloadable (GPR) prepaid card offered by Western Union and Advent. This offers a quicker and more convenient method of receiving a tax refund than a paper refund check and can be used after the refund has been spent. Cardholders can reload their cards at one of 45,000 Western Union Agent locations in the U.S.
ACI Worldwide will acquire Online Resources in an all cash transaction for $3.85 per share, per a recently inked definitive transaction agreement. With directors of both companies having approved the transaction, the integration of ACI Worldwide and Online Resources will make available to financial institutions the preeminent online and mobile banking, bill payment and presentment solutions. ACI Worldwide is recognized as the leader in the U.S. Large Bank Market for 2012 and a Company to Watch in 2013 by Aite Group. The addition of Online Resources’ payment and presentment capabilities will benefit customers by giving them the choice and flexibility to address a broader set of needs from a single integrated source and broaden ACI Worldwide’s customer base with the addition of 1,000 banks, credit unions, billers, credit card issuers, and other credit and payment service providers.
Vindicia Subscription Billing and WorldPay payments processing, risk and alternative payments, announced a partnership to deliver enhanced payment acceptance capability to Vindicia’s digital eCommerce merchants. The alliance integrates WorldPay’s payment processing capabilities into Vindicia’s billing platform, CashBox, which is specifically designed for the digital industry. As a result, CashBox customers will be able to benefit from expanded international reach, comprehensive support for major merchant cards, and preferred regional networks and payment methods. Vindicia customers will gain access to numerous global payment methods and 115 currencies provided by WorldPay’s worldwide network.
The Visa Board of Directors has elected Robert W. Matschullat its non-executive, independent chair, just as John Swainson’s term as Lead Director will end and will return to chair position Matschullat has been a Visa director since October 2007 and served as both Chairman and interim Chief Executive Officer of The Clorox Company and is currently its Lead Director. He also served on the boards of The Seagram Company Limited, Morgan Stanley & Co. Incorporated and of the McKesson Corporation. Mr. Matschullat currently serves on the board of directors of The Clorox Company and The Walt Disney Company.
Paymetric integrated and secure enterprise payment acceptance solutions has been named a finalist in two categories for the Info Security Products Guide. These global awards recognize security and IT vendors with advanced, ground-breaking products and solutions that are helping set the bar higher for others in all areas of security and technologies. The categories include PCI Compliance for Paymetric’s Data Intercept Solutions for XiSecure™ On-Demand and Security Products and Solutions for Enterprise (Large) for Paymetric’s Data Intercept Solutions for XiSecure™ On-Demand.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard announced 4Q/12 net income of $605 million, up 18% from the year-ago period, and net revenue of $1.9 billion, a 10% increase from 4Q/11. Net revenue growth was thanks to an increase in processed transactions of 20% to 9.2 billion; an increase in cross-border volumes of 17% and a 14%…
FIS banking and payments technology signed a definitive agreement to acquire the remaining 78% interest in mFoundry mobile banking and payment solutions for financial institutions and retailers. In mFoundry, FIS previously held a 22% interest. This development creates one of the leading mobile entities in the financial services space and enables FIS to leverage its technology assets across a broader client base. mFoundry’s customer-focused solutions have become a leading platform for mobile banking and mobile retail and have been adopted by some of the largest banks, credit unions, payments processors and retailers in the country.