[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. credit card delinquencies for the first time in a year increased, according to the latest Fitch Ratings Credit Card Performance Index. This immediately follows a new five-year low in October as late stage delinquencies were up two basis points to 1.71%. Regardless, late payments have remained well below the 3%…
American Express announced a line-up of unique media partnerships designed to create seamless and engaging shopping experiences for consumers that turn curated content into commerce. American Express is enabling digitally minded shoppers to find inspiration, connect to fashion and products and, for American Express® Cardmembers, receive exclusive offers. Fox Broadcasting Company (FOX) has partnered with American Express to offer a first-of-its-kind “T-commerce” (Television Commerce) program, allowing consumers to shop in real-time while watching “New Girl.” Available “New Girl” give Cardmembers exclusive offers to receive a one-time $35 statement credit if they use an eligible American Express Card that has been synced with their Facebook account to make a purchase of an exclusive item seen on the show. AmEx forged similar partnerships with NBCUniversal & Zeebox.
Compass Plus global payments software provider launched its Instant Issuance solution based on TranzAxis open development banking platform. TranzAxis Instant Issuance allows financial institutions to issue EMV and magstripe cards in-branch in a matter of minutes. This encourages customer loyalty, increased card activation rates and decreased distribution costs. Compass Plus has embarked upon a project with Mühlbauer, the top manufacturer of high-end personalization equipment, in order to promote TranzAxis in the global market while enabling Mühlbauer to further expand its business into the banking sector, particularly instant card issuance.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index (LEI) for the U.S. increased 0.2% in October to 96.0 (2004 = 100), keeping in conjunction with a 0.5% increase in September, but a 0.4% drop in August. The LEI still indicates modest economic expansion in the near term. Over the last six months, improvements…
Coastal Federal Credit Union, a $2 billion not-for-profit member-owned financial cooperative serving North Carolina, has extended its members’ mobile banking experience by enabling them to use their mobile device camera to scan and deposit checks using mobile software from NCR Corporation (NCR). Coastal Federal was one of the first financial institutions to launch mobile check deposit integrated into APTRA Mobile Banking. NCR APTRA Passport Remote Deposit Capture software with the mobile banking app offers a range of core banking functions on their mobile device including balances, transaction history, bill pay, and funds transfers – and now deposit checks without leaving their home. Members just choose a “deposit check” option where they will be prompted to take a photo of the front and back of the check. After confirming the value of the check, the check image will be transmitted for processing.
American Express has launched a new app for Android and iPhones that uses the mobile’s onboard camera to snap and store receipts for later reconciliation with account statements. The “ReceiptMatch” solution can be used by company employees to capture images of receipts on the go and add a note to the transaction. The captured images are automatically matched to the corresponding transaction on account statements.
INSIDE Secure has entered into an agreement to purchase Embedded Security Solutions (ESS) high expertise business which designs and develops encryption-related security hardware intellectual property (IP) and software for a variety of industries, including the mobile and networking markets. This acquisition will enable INSIDE Secure to reinforce its position as a key player in the fast-growing security solutions market. ESS brings to INSIDE Secure complementary offerings for a complete security architecture, as well as additional solutions for securing both content (Digital Rights Management or “DRM”) and data exchange (Virtual Private Network or “VPN”); ESS complements INSIDE Secure’s know-how with a talented team of 79 highly qualified employees located in Europe, Asia and in the US, as well as its extensive and highly regarded security intellectual property and technology portfolio, which aligns with INSIDE’s long-term strategy to generate its own IP licensing revenue; and this will allow INSIDE Secure to access a wider customer base in the mobile, content provider and network industries that serve a variety of application markets.
Mobile Wallet Media introduced an option for standardization in m-payments in an otherwise fractured. The “Merchant Customer Exchange” (MCX) was founded to allow a mobile or digital wallet to utilize any mobile payment technology adopted by a retailer, whom must be registered for a mobile wallet using the invention’s technology. The mobile payment service provider must also be integrated to work with the invention’s technology. The retailer just needs to login into the mobile app, verify store location and can then implement the standard mobile payment technology.
Cryptomathic e-security has joined both the industry association Smart Card Alliance (SCA) and SCA’s cross-industry group, the EMV Migration Forum. Cryptomathic will contribute its global knowledge of enhancing the security and integrity of data on secure chip technology and, more specifically, the deployment and management of EMV payments. Similarly, building on decades of IP and effort in the cloud and virtualised chip space, Cryptomathic will concentrate on mobility in payments within the SCA.
PayAnywhere, the professional grade mobile point of sale solutions provider, announced the launch of its nationwide retail channel with some of the nation’s largest and most well-known retailers, including Wal-Mart® Stores Inc., OfficeMax® Incorporated, Sam’s Club® and The Home Depot®. These retailers will offer the PayAnywhere mobile credit card readers in stores as part of the company’s newly launched channel program and can now find PayAnywhere mobile credit card readers on shelves and pegs at stores where they already shop for their business needs. PayAnywhere also offers readers for contractor’s desks to best serve professional trade customers.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Consumer Confidence Index, which had increased in September after declining in August, improved once again in October to stand at 72.2 (1985=100) from the September figure of 68.4. The monthly Consumer Confidence Survey indicated those claiming business conditions are “good” rose to 16.5% from 15.3%, while those saying…
For undisclosed terms, Tsys is set to acquire ProPay payment solutions, which currently processes for approximately 250,000 small and micro-merchants. It offers merchants self-enrollment, instant activation and simplified pricing to begin accepting payments anytime or anywhere ” online and offline. ProPay- which will become a wholly owned subsidiary of TSYS- offers a mobile payment acceptance dongle ” branded as ProPay JAKTM ” that attaches to smart phones and tablets to securely process payments and encrypt data.