Kuapay closed a $4 million round of funding with a private investor, which it intends to put towards further expansion into New York, Europe, and Asia. Expansion into Europe, Asia, and the Eastern Region of the United States is on the horizon and will consist of sales and support operations in New York, Madrid, and Hong Kong and will enable the company to offer its universal e-wallet to even more consumers globally. Kuapay is not founded by a major banking or retail entity, and therefore has the freedom to provide solutions across all card types and payment platforms.
CorFire mobile commerce partnered Payfone remote m-commerce to integrate CorFire’s “CorPay” mobile wallet app with Payfone remote m-commerce solution. Payfone authenticates through the bank and carrier networks, making it easy for merchants to implement an accelerated user registration process. Payfone doesn’t require changes to backend systems or new payment marks. Moreover, consumers do not have to download or install the application which, in turn, enables merchants to quickly and easily increase conversions and improve customer loyalty. The “CorPay” solution is a single, intelligent mobile wallet platform that essentially virtualizes current wallet functions so that consumers no longer have to carry a physical wallet. It allows consumers to use their mobile devices to pay for goods and services while on the go.
U.S. Bank has introduced the U.S. Bank Cash+™ Visa Signature® Card that allows cardholders to choose the categories in which they will earn 5 percent and 2 percent cash back. With choice of categories and no earning limit, cardholders are in control of receiving the most cash back because they must choose their categories every quarter, allowing them to maximize their earning potential. In addition, U.S. Bank cardholders receive a $25 bonus if they redeem $100 at one time. With no minimum redemption, cardholders can select how much they want to redeem as well as how they would like to receive it. Redemption choices include a statement credit or a deposit in a U.S. Bank checking, savings or Money Market account. Cardholders can also select a U.S. Bank Rewards Card with a $20 minimum cash back redemption.
FIS banking and payments technology forged definitive agreement to sell its Healthcare Benefit Solutions business to Lightyear Capital for $335 million. The all-cash transaction is expected to close by the end of the third quarter of 2012, subject to required regulatory approvals and customary closing conditions. The sale includes FIS’ Consumer Driven Healthcare Solutions and Health and Financial Network Solutions, which provide benefits administration, multi-purse debit card and benefit account processing and payment fulfillment services to consumers, healthcare providers and payers. FIS will retain its state and federal government-sponsored electronic benefits transfer (EBT) businesses and programs which serve clients in more than 25 states.
Bill.com integrated bill payment, invoicing and cash management solutions for businesses announced the general availability of its powerful cash management feature that completes the Cash Flow Command and Control System. This new feature leverages Bill.com’s proprietary, cloud-based accounts payable and accounts receivable systems to deliver a more fluid method of cash flow management than ever before possible. Bill.com’s cash flow system is the only solution that connects user’s banks, books and business, enabling companies of all sizes to finally rid themselves of the cumbersome, error-prone and highly manual spreadsheets that have plagued finance for decades.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] As card chargeoffs are on the way up once again, credit outstanding held by consumers is on the way down. Having not seen an uptick since August 2011, card chargeoffs in April were up 27 basis points from the March figure of 5.17% to 5.44%, although the outlook remains bright for…
Visa launched Visa Payment Controls online platform allowing small business owners to manage how, when and where transactions and payments are made on employees’ business cards. Enhancing efficiencies and transparency to traditionally paper-based payment systems, this improves record keeping and reporting while providing valuable insight into where company dollars are spent. Visa Payment Controls gives small business owners the flexibility to manage how employees can use their cards based on location, spending limits and categories. Small businesses can choose Visa cards for spending control and visibility, tools to improve cash flow, purchasing convenience and access to money saving offers and rewards.
Chase Paymentech launched its new “Future Proof” terminal, allowing merchants to accept current and quickly emerging forms of customer payments all in one streamlined device. Accepting EMV (Europay, MasterCard, Visa) chip cards, as well as phone-based mobile wallets and other forms of contactless payment – while maintaining a commitment to security, convenience and the current value of traditional card acceptance, the Future Proof terminal is available through Chase’s bank branch network and at www.chasepaymentech.com and is designed for a wide variety of merchants and offers unmatched flexibility in payment acceptance. Merchants can now accept- in addition to magnetic-stripe payment cards- EMV-enabled chip cards, which are less susceptible to counterfeit and other forms of fraud, offering greater security and more streamlined processing; mobile wallets, which will help businesses in the future establish two-way communications with customers, building loyalty and unlocking new business opportunities; and Contactless payments.
The NFC Foundation Board of Directors elected Gary Spinazze to a two year term as Chair of the NFC Foundation, the charitable giving arm of Nash Finch Company. Board Member Paula Docken, Business Analyst, chair of the Community Outreach Committee was named as Chair Elect. The NFC Foundation Board is comprised entirely of Nash Finch employees who volunteer their time, energy and passion for community service in service to the Foundation and the community. Nash Finch Company supports the Foundation by shouldering the Foundation’s administrative expenses to ensure that donations are used to support those in need. Nash Finch associates from around the country volunteer on Foundation Committees as well as for our non-profit partners, donating their time, skills and money in support of the Foundation’s mission.
MasterCard cardholders now have the ability to earn valuable rewards and special offers when making qualifying purchases with their linked MasterCard card at participating retailers across the United States. MasterCard and shopkick partnered to give cardholders the ability to earn “kicks” proprietary reward currency when they link their card to shopkick’s Buy & Collect program and make qualifying purchases, which can be redeemed for gift cards, music downloads, movie tickets or other offers. Consumers will receive 250 bonus kicks for each MasterCard card they link to the Buy & Collect program, for a limited time during the kickoff period.
Visa Olympic Games Sponsor and USA Technologies wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, announced the ability for vending and other self-serve retail locations served by USAT in the U.S. to promote Visa’s London 2012 Olympic Games Trip for Life Sweepstakes. Beginning the summer of 2016, one Grand Prize winner and a guest will receive round trip airfare; deluxe hotel accommodations; and tickets to Olympic Games events, all with no purchase or obligation necessary to enter or win.
American Express OPEN announced enhancements to the Plum Card (www.plumcard.com) to help small business owners better manage cash flow and free up working capital by taking advantage of the card’s built-in trade terms. With ‘Early Pay Discount,’ Cardmembers pay at least 10% of their balance within 10 days of the statement closing date, they will earn a 1.5% discount on the portion they elect to pay. Previously, Cardmembers were required to pay the balance in full to enjoy this benefit. They also get ‘Extra Days to Pay,’ when Cardmembers pay at least 10% of the balance, they can take up to 60 days from the statement closing date to pay the remaining balance without penalties or interest charges. Both options are designed to help Cardmembers better manage cash flow. The payment flexibility allows Cardmembers to adjust to changing business needs and also have the option to choose the most convenient time for the billing cycle to close — either at the beginning, middle or end of the month.