[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Penalty fees paid by consumers last year took another dip. After rising predictably year/year for most of the last decade, 2010 saw the first penalty fee decline, down from$23.9B to $22.5B, with 2011 showing a further drop to $19.4B, and 2012 dropping again to $17.8 B, according to the R.K. Hammer…
Compass Plus electronic payment solutions and retail banking systems has completed scalability and performance tests on HP servers for their “TranzAxis” Open Development Banking Platform. A specialist, integrated platform created for the development and support of cards and payments, transaction switching, retail banking and other systems and applications in the domain linked to the automation of retail banking activities, “TranzAxis” was tested through a simulated issuing and acquiring setup that required it to drive 20,000 terminals (10,000 ATMs and 10,000 POS devices). TranzAxis also acted as an issuing system that included 10 million accounts with overdrafts and 10 million cards linked to them. The platform reached a sustained peak of 1066 transactions per second (TPS) during testing and remained stable at that high capacity.
Commerce Bank made available to its Visa Signature Credit Card holders more convenience and safety when traveling, launching the chip-enabled Visa Signature Credit Card. Embedded with a Europay, MasterCard and Visa (EMV) microchip, the card provides greater acceptance at international merchants where chip card terminals have become the standard. The chip-enabled credit card includes elements that offer each transaction an additional layer of security for regular purchases in stores as well as those made at unattended terminals such as automated ticket dispensers commonly found in European train stations.
Cardtronics announced the appointment of Jerry Garcia to the newly created Chief Information Security Officer position. Having spent the last 10 years designing and developing the information technology systems Cardtronics uses to run its business, Garcia will now focus exclusively on Cardtronics’ information security program as chief information security officer (CISO). Also, Mike McCarthy has joined Cardtronics as its new CIO and is to oversee the company’s IT infrastructure, design and implementation of high-availability IT solutions.
MasterCard is making some of the company’s proprietary technology solutions available to other U.S. debit networks to provide an option to support debit EMV transactions and reinforce the company’s continued support of the U.S. migration to the EMV standard. MasterCard will allow acquirers to brand transactions originating from the Maestro AID (application identifier) for all debit networks within the United States. This is part of the MasterCard initiative to advance the future of electronic payments in the U.S.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express reported 4Q net income of $637 million, down 47% from the year ago figure of $1.2 billion. Net income from the quarter included the restructuring charge, rewards expense and cardmember reimbursements that were announced last week. Consolidated total revenues net of interest expense were $8.1 billion, up 5% from…
Onebip mobile payments service from Neomobile launched its subscription payment service for Android devices, having released its first subscription service in 2005 and has successfully managed recurring payments for top global online dating and networking sites since 2008. To celebrate this milestone, Onebip has further enhanced its offering by introducing Onebip Android in-app for subscription payments. Onebip has successfully helped merchants worldwide build their user base and monetize by optimising the opt-in user experience and recurring billing technology. Onebip’s Subscription payments allows online dating, social networking and gaming merchants and is available in more than 70 countries worldwide.
EVO Payments International announced Kevin M. Hodges is new its CFO, where he will be responsible for the company’s expanding global financial operations. He will oversee Finance, Accounting, Treasury, Tax, Human Resources, and Corporate Communications. He previously held various senior financial leadership positions at Global Payments Inc. and worked at Deloitte & Touche. Hodges holds the Chartered Financial Analyst designation and is a CPA.
VocaLink payment provider announced Nick Millar joins as Strategy and Customer Insight Director, Jim Wadsworth as Product Development Director and Phil Harrison as Commercial Director, Alternative Payments. With 20 years’ experience, Millar joins VocaLink from Visa Europe, where he was Head of Strategy. In his new role, Nick will lead the Strategy and Customer Insight team, developing VocaLink’s corporate strategy to maximise the value of core infrastructure capabilities and support emerging payment models. Wadsworth brings over twenty years’ experience working with market leaders in the payments sector and joins VocaLink from Accourt, where he led its mobile and digital payments practice and advised a wide range of international clients. Harrison joins the company from Clairmail Mobile Solutions where he was Managing Director for EMEA, bringing with him more than 25 years’ experience in retail banking and payment technologies.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs have held the course for the shopping season and into January at a steady 14.98% average. Slightly higher than the 14.95% average measured the year ago period, the average credit card APR has settled just below 15%. This after a nearly 0.50% jump in October and hardly…
NCR and PayPal partnered to integrate PayPal mobile payment options into the recently announced NCR Mobile Pay application and NCR Aloha Online Ordering. NCR Mobile Pay enables restaurant patrons with a smartphone to browse their bill, re-order menu items, alert their server, complete surveys and pay. PayPal appears as a payment option and allows consumers greater choice for secure payments alongside credit or debit card options. Consumers will also be able to use the PayPal mobile application to locate and “check in” at participating NCR Mobile Pay merchants to access the same functionality. Also PayPal integration gives C-Go users another easy option for paying at the pump or inside stores with their smartphone while also providing stores with valuable opportunities for targeted up selling and promotions. NCR and PayPal plan to enhance NCR’s Netkey Endless Aisle application with PayPal integration to speed up the consumer checkout process for consumers using the solution for online shopping and to integrate NCR’s Advanced Marketing Solution (AMS) loyalty and offer management system with the PayPal digital wallet.
Green Dot launched “GoBank” bank account designed from scratch to be opened and used on a mobile device. This makes it easy to send and deposit money, build a budget and find an ATM, with a massive network of more than 40,000 fee-free ATMs. Each GoBank account includes a checking account with a linked Visa debit card and a second integrated bank account called the “Money Vault” that’s designed to be an easy way for GoBank members to put money away for savings. Accounts are demand deposit accounts (DDA) with deposits insured by the FDIC and full “Regulation E” consumer protections. Available through the program is Debit Card Customization; a Fee-Free ATM Network; Remittance; Quick Account Set-Up; and the Money Vault integrated bank account, allowing members to easily put money away for savings.