Dynamics Launches Triple-Interface Device at Finovate

Dynamics next-generation payment cards launched its “Triple Interface” next-generation payment device at Finovate, creating a central platform for all three primary payment technologies on a single piece of plastic in a re-writeable format. For magnetic stripe readers, a card-programmable magnetic stripe – Dynamics’ proprietary Electronic Stripe™ – is included, which can re-write any bit of the magnetic stripe at any time. For EMV contact readers, a card-programmable chip – Dynamics’ proprietary Chip and Choice™ product – is included, which can re-write a contact chip profile at any time. A card-programmable contactless chip – Dynamics’ proprietary Chip and Choice™ contactless product – is included, which can re-write a contactless chip profile at any time.

Virtual Piggy Partners Ty Plush Retailer

Virtual Piggy will integrate its innovative youth payment system into the world’s largest online plush retailer website ty.com. Ty Inc. produces the world renowned Beanie Babies® as well as Beanie Buddies®, Teenie Beanie Bopppers®, Beanie Boppers® and other plush lines recognized the world over by their distinctive red Ty Heart Logo®. When making purchases through Virtual Piggy, kids do not share any personal information making it completely compliant with COPPA and TRUSTe certified.

Regal Payment Systems Partners ICG Software, Launches POS

Regal Payment payment processing services forged a new partnership with ICG Software software and hardware solutions to launch its “HioPOS Plus” ‘All-In-One POS System.’ Regal Payment Systems has developed a strategy that will reach untapped markets and provide a more suitable and cost effective alternative to Cash Registers and Lower End Point of Sale Solutions with more flexible program options.

Dynasty Prepaid Visa RushCard Launches New Ad Campaign

RushCard is debuting its first Spanish-language television spot featuring the Dynasty Prepaid Visa RushCard and baseball star Alex Rodriguez. The commercial began airing on Hispanic television networks this week. In the spot, Rodriguez recalls learning from his mother – who worked two jobs to support her family – the value of working hard as a means of achieving financial stability. The Dynasty Prepaid Visa RushCard is a prepaid card that offers budgeting tools, bill payment, mobile features and many other valuable services to individuals looking for alternative banking solutions. RushCard – accepted everywhere Visa debit cards are – provides exceptional service and cardholder benefits that allow cardmembers to get ahead in their financial lives.

PreCash Launches mWallet for Underbanked

At FinovateFall 2012, PreCash announced and demonstrated FlipMoney, the first viable mobile wallet app for underbanked consumers. This lets people without a bank account or credit card do instant remote check deposits and perform free expedited bill payments with their smartphone. Large scale deployment will begin this fall. During Finovate, PreCash announced the mobile solution can be customized and branded for mobile carriers, prepaid program managers, money service businesses and other merchants. Flip allows a person without a checking account to remotely deposit their checks into a mobile wallet that works with a prepaid debit card. Flip is unique because a user can elect an instant check deposit option that typically makes funds available within minutes. Current remote check deposit solutions take three to six days to process.

FDIC Shows Large Unbanked and Underbanked Population

The Federal Deposit Insurance Corporation (FDIC) released the results of its 2011 National Survey of Unbanked and Underbanked Households, the most comprehensive survey on the unbanked and underbanked in the United States. The survey indicates that more than one in four U.S. households (28.3%) are either unbanked or underbanked, a slight increase from the findings of the FDIC’s 2009 inaugural survey. As of 2011, 821,000 more U.S. households have become unbanked since the first survey in 2009, representing a 0.6 percentage point increase. More than half of all unbanked households said they do not have an account because they believe they do not have enough money or that they do not need or want an account. In addition, the report shows that three in ten households nationally do not hold a savings account. Additional findings indicate 8.2% of U.S. households are unbanked, or nearly 10 million in total while approximately 17 million adults live in unbanked households; 20.1% of U.S. households are underbanked, or 24 million households, with 51 million adults; and 29.3% of households do not have a savings account, while about 10% do not have a checking account.

Same Store Card Spending Up 7.2% in August Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The First Data August “SpendTrend” analysis shows same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations overall dollar volume growth was up 7.2% since the year ago figure, the largest increase since March 2012. Transaction growth increased 6.5%, also a five-month…

Chase Allows Business Customers to Expand Online

Chase launched its annual Business Insight Seminar Series (#ChaseBIS) this week to help Chase Business Banking clients expand their online and social media presence. Innovations from Chase provide businesses with solutions to meet their needs, save time and grow. Chase QuickDepositsm is a remote deposit solution for businesses to make deposits without a trip to the bank. Chase Mobilesm for Business helps manage finances with quick text updates about account balances and do things like pay bills or transfer funds. Instant Storefront is an all-inclusive e-commerce solution provided through Chase Paymentech.

71% Of Parents Value Job Potential Over Major Choice

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] A Discover survey of parents with college-bound teens shows 81% believe college is very important to their child’s future and 70% say that earning potential is more or about as important than choosing a major. Another 21 percent of parents did not think income potential was more important than a major.…

Fico Acquires Adeptra for $115mm

FICO has completed its acquisition of Adeptra cloud-based customer engagement and risk intervention solutions for an all-cash purchase price of approximately $115 million. Adeptra’s SaaS (software as a service) platform enables leading financial services institutions and other businesses to take advantage of the explosion in mobile communication in order to manage risk, fight fraud and dramatically improve the customer experience, all in real time. By using Adeptra’s technology combined with FICO’s decision management applications, businesses can move seamlessly from defining, changing and testing decisions to executing and resolving customer interactions while improving customer outcomes.

Fiserv Launches mPayment Solution

Fiserv financial services technology introduced its “SpotPay”mobile card reader solution for financial institutions to offer to their small business customers. This allows merchants to accept card and check payments anywhere, anytime, swiping payment cards with their mobile device to. It offers merchants the ability to deposit checks using the mobile remote deposit capture feature from Fiserv that allows users to securely take a picture of the front and back of a check and deposit the item electronically. Now available to financial institutions that are part of the ACCEL/Exchange® payments network, they can offer “SpotPay” to their small business and merchant customers as a way to provide them with a secure, convenient and low-cost solution to collect credit and debit card payments as well as to remotely deposit checks. The solution has strong fraud prevention tools and makes card transactions easy to accept with security designed to decline counterfeit cards.

Visa Launches Targeted NFL Fan Offers Program

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In conjunction with the 2012-2013 NFL season opener, Visa launched its “NFL Fan Offers” program. Using real-time communications to give enrolled Visa cardholders a chance to win exclusive NFL-related experiences as well as receive valuable merchant offers, the program is a central component to Visa’s “Make it Epic” NFL sponsorship, which…