American Airlines Deploys Acculynk Secure Payment

American Airlines has implemented “PaySecure” from Acculynk’s Internet PIN debit-enabling product to secure customers transaction and offer Internet PIN debit for all online consumers. Travelers who use their debit cards to make purchases on will have the option to enter their PIN on PaySecure’s graphical PIN-pad. The transaction is processed as a normal PIN debit card transaction. Acculynk’s PaySecure® technology encrypts each PIN so that it is never transmitted as an actual, numerical PIN. Acculynk transmits the PIN directly to the Electronic Funds Transfer network, which in turn sends it to the bank for approval. The PIN is never stored by or Acculynk.

GE Capital and Sam’s Club Extend Credit Card Program

GE Capital Retail Bank and Sam’s Club membership warehouse club forged multi-year agreement through which the Sam’s Club credit card program will be available to GE Advantage and Business Members. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers to help grow their customer sales, will continue to manage the Sam’s Club relationship and service the account. The financing program is available at more than 600 Sam’s Club locations across the United States and Puerto Rico and can be used at Wal-Mart stores, as well as for online Sam’s Club purchases and everywhere Discover® is accepted. The Sam’s Club private label credit card and Discover card program enables both Advantage and Business Member cardholders to enjoy a range of benefits, including, zero fraud liability with photo protection, one-card membership and credit card convenience, no fee in-Club cash access, special financing promotions, itemized billing statements (for Business Members only) and advance notice of savings opportunities and events.

Consumer Confidence Hits 2012 Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having reached its lowest level of the year, the Discover U.S. Spending Monitor declined 1.4 points to 89.3. Having last dropped below 90 in December 2011, the monitor performance in July is reflecting concern over the economy with 53% of respondents convinced the U.S. economy is poor. However, consumers who expect…

Dollar Bank Deploys mRemote Deposit

Dollar Bank has implemented WAUSAU Financial Systems’ “Deposit 24/7 Mobile” mobile remote deposit capture solution from its Deposit 24/7 Suite. The bank has seen great success, processing nearly 2,500 deposits totaling $500,000 through the solution. A 2011 Celent study notes that approximately 80 percent of surveyed financial institutions are considering a mobile RDC solution, but as a Javelin and USAA study shows, many aren’t taking action. Despite the benefits of the technology for all parties and its “must have” status to keep up with consumer demand and achieve cost savings, several of the 10 largest U.S. financial institutions still aren’t offering mobile RDC to customers. WAUSAU is currently expanding its “Deposit 24/7 Suite” to provide the small and mid-tier business markets a receivables hub that accepts checks and electronic payments for ACH and credit card.

TSYS Inks JV with Central Payment

TSYS announced its joint venture with Central Payment, in which it holds a 60% stake and will function as a TSYS affiliate. The Central Payment privately held direct merchant acquirer focuses on merchants in the restaurant, personal services and retail sectors and currently uses TSYS technology for payment processing. The joint venture will be governed by a board of directors including both TSYS and Central Payment executives.

Global Cash Access Posts 2Q/12 Net Income Up 450%

Global Cash Access Holdings posted 2Q/12 operating income up 125% quarter-over-quarter to $16.0 million; net income per share up 450%; and cash EPS increased 92% quarter-over-quarter to $0.23. Revenues were $147.5 million for the second quarter 2012, as compared to revenues of $135.1 million for the same period in 2011. The overall increase in revenues was primarily due to the MCA asset acquisition coupled with modest organic growth in the Company’s base business. Operating income was $16.0 million for the second quarter 2012, an increase of 125%, as compared to $7.1 million for the same period in 2011. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) (see Non-GAAP Financial Information below) were $20.1 million for the second quarter 2012, an increase of 68%, as compared to $12.0 million for the same period in 2011.

Cardtronics Buys Out ATM Network

Cardtronics wholly owned subsidiary acquired all the assets of ATM Network, including its merchant contracts, customer relationships, online store and web properties. ATM Network’s management team and employees are expected to join Cardtronics. ATM Network provided ATM services to independent merchants, primarily on the local level and grew into a nationwide company, boasting a merchant client count topping 6,000. The assets of ATM Network deliver a complement to Cardtronics’ existing independent merchant ATM business, which has historically filled its sales pipeline through indirect sales efforts, primarily through a network of dealer relationships. The acquisition of ATM Network’s assets pushes Cardtronics’ merchant-owned ATM count to 21,300 machines under contract.

American Express Appoints Executive VP/CIO

American Express appointed Marc D. Gordon Executive VP, CIO and consequently a Corporate Officer upon his election by the American Express Board of Directors. He most recently served as Enterprise CIO and Chief Technology Officer at Bank of America, where he led the development of industry-leading capabilities and innovations at very large scale. Previously, he was CIO for Best Buy and The Timberland Company. Marc began his career as a consultant at Accenture, serving clients across a range of industries. Gordon holds a bachelor’s degree in economics from Colby College and a master’s degree from MIT’s Sloan School of Management.

Syncada from Visa Launches Enhanced Capabilities

Syncada made available its e-invoicing tool to allow companies to further automate invoice processing and improve efficiency by eliminating manual paper processes. Experts predict electronic processing and payment solutions, such as Syncada, will render paper-based invoice processing and management obsolete. The launch of this innovative e-invoicing solution, European corporates may reap the benefits of e-invoicing while making payments and providing financing to suppliers around the globe. Integrated directly into the multibank network, the e-invoicing tool meets certain requirements set forth by European Union regulators”including the ability to e-sign invoices as well as robust data capture to enable compliance with tax regulations.

Wells Fargo Named Best Internet Bank

Global Finance magazine has named Wells Fargo & Company Best Corporate/Institutional Internet Bank and Best Consumer Internet Bank in the United States. In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design. Among consumer Internet banks, Wells Fargo earned awards for Best Web Site Design, Best Bill Payment & Presentment (for the fourth consecutive year), and Best Social Media (for the second consecutive year).

Wells Fargo Small Business Optimism Down 6 Points

The Wells Fargo/Gallup Small Business Index declined six points to 17, which virtually erases gains experienced earlier this year. The number of business owners expecting to be in a good financial position over the next 12 months declined seven percentage points to 59% and those expecting increased revenues in the next 12 months declined by six percentage points to 43%. Despite the decline in the Index score this quarter, business owner optimism has improved significantly from the Recession low point when the Index dipped to minus 28 (-28) in 3Q/10. With the number one reason cited for not making a small business investment being concern about the overall state of the economy, small business owners planning to make capital investments over the next 12 months say they intend to make them in new equipment/machinery (64 percent) and technology, such as computers (61 percent), new software or websites (56 percent), and mobile devices (52 percent). But business owners who said they plan to make a capital investment over the next 12 months say they are planning to pay for it using business revenue/profits (93 percent); credit (39 percent); and savings (31 percent).


Harbortouch America POS Systems launched information on several new user-friendly features on their website for online access to its POS management and reporting tool known as the Lighthouse Feature and the launch of the more powerful All in One (AIO) Elite System. Harbortouch America has also added a new video narrative for its Free POS Program, walking viewers through the structure of the Free POS Program and also offers business owners the option to enter their information online to receive a full proposal.