Kuapay Mobile Payment closes $4 million funding round

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.

Economic Indicators Show Signs of Promise, Consumers Pay Debt

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.6 trillion in outstanding US consumer debt, total outstanding revolving credit was down 4.8% in April for a decline from $865.7 billion to 862.3 billion. This compares to the year ago figure of $789.8 billion. Meanwhile, as disclosed by the Conference Board, the Leading Economic Index just released…

Shareholders Elect USA Technologies Director Nominees

USA Technologies, a leader of wireless, cashless payment and M2M telemetry solutions for self’serve, small’ticket retailing industries, announced that at its Annual Meeting of Shareholders, and based on the preliminary vote count provided by its proxy solicitor, shareholders have elected all of the Company’s director nominees, consisting of Deborah G. Arnold, Steven D. Barnhart, Joel Brooks, Stephen P. Herbert, Albin F. Moschner, Frank A. Petito,III, Jack E. Price, William J. Reilly, Jr. and William J. Schoch.

Discover Ranks as Top Place to Work

Discover ranks 49th on IDG’s Computerworld 2012 list of the “100 Best Places to Work in Information Technology,” marking the 10th straight year the company has been recognized for its workplace environment. Computerworld’s 19th annual list ranks the top 100 workplaces for technology professionals based on salary, benefits, diversity, career development and training, among other factors. Discover’s commitment to striking a healthy work/life balance, including offering employees 25 days of paid vacation and sick time and performance-based incentive plans, helped secure this year’s top 50 ranking. IT employees can also participate in a “hoteling” telework program, enabling them to connect to the company network and work from home.

NCR Silver taps Apple devices to put POS in the cloud

NCR Corporation has made available its “NCR Silver” and on the Apple App Store. The “NCR Silver” platform is a simple and affordable cloud-based POS software platform that enables small business owners and entrepreneurs to take payments and manage their entire business with one POS solution, changing the way small business owners manage their business. It operates on Apple devices like the iPad, iPhone and iPod Touch. The “NCR Silver” analytics allow small businesses owners to track inventory and transactions, see profit margins and manage other key business information. With its cloud-based interface, this information can be accessed from any computer with internet access. It operates like a traditional POS system when combined with a credit card reader, iPad stand, wireless receipt printer and wireless cash drawer. The Apple device running NCR Silver can also be taken around the store to take payments or offer more intimate customer service or outside the store to sell at remote locations like farmers’ markets and street fairs.

Tech Credit Union Selects Fiserv Account Processing

Fiserv announced Tech Credit Union selected its “XP2” account processing platform for its advanced technology and functionality to support its goals for increasing operational efficiency and enhancing member-service. The “XP2” account processing platform from Fiserv features a Microsoft .NET architecture that is open at every tier and a member-centric design backed by an IBM® DB2 relational database. With scalable technology and established interfaces to a broad range of enterprise solutions, XP2 supports credit unions’ growth and drives operational efficiency. The credit union will also take advantage of the Integrated DesktopSM feature from Fiserv, which delivers tight integration between XP2 and its existing debit card processing solution from Fiserv to deliver more immediate access to member profiles and enhanced service capabilities.

ControlCase Evolves Point-to-Point Data Encryption

After introducing its comprehensive PCI Compliance as a Service platform, ControlCase is now authorized as a Qualified Security Assessor (QSA) for the newest PCI Point-to-Point Encryption (P2PE) standards. These newest standards ensure card holder data is encrypted at the very first POS, be it a traditional retail terminal or a mobile payment application. The use of P2PE solutions may actually simplify a merchant’s annual PCI DSS compliance requirements.

National Payment Card Association Granted mWallet Patent

National Payment Card Association (NPCA) www.nationalpaymentcard.com has been issued a third United States patent in the area of decoupled debit technology. This most recent patent is in the rapidly emerging mobile payments area. “Decoupled debit” payment methods refer to situations in which a US checking account holder from any bank or credit union is able to accomplish an electronic payment without needing to use a card issued by the bank or credit union they have their checking or debit card with. The patent is United States Patent Number 8,205,791, titled “Payment System and Methods”. The patent contains 28 claims, including various independent claims for a consumer to fund a mobile wallet via an ACH payment method for the holder of a United States checking account with a financial institution to accomplish a purchase at a retail site.

SYSPRO Redesigns POS Solution for Retailers

SYSPRO enterprise resource planning (ERP) software for on-premise and cloud-based utilization launched its POS retailing solution, offering a variety of retailing management and market capabilities. The SYSPRO Point of Sale- built on single source code under-pinning SYSPRO’s powerful enterprise resource planning (ERP) software- contains more than a dozen new features/functions useful for managing everything from ordering, through inventory management and transit and on the front-end the transactions, daily/period cash-outs and card-based customer loyalty programs. SYSPRO Point of Sale is an ideal match for SYSPRO ERP companies that are improving their margins by cutting reliance on intermediary companies and managing the end-to-end manufacturing/distribution/retailing chain independently. It embeds intelligence into this complete cycle for retail oriented manufacturers and distributors for order entry; inventory management; and shipping/transit.

Presidio Bank taps IronKey for online security

Presidio Bank is set to offer its clients IronKey “Trusted Access” to help prevent identity theft, online account takeover, and payments fraud. The “Trusted Access” platform allows the bank to meet and exceed the new Federal Financial Institutions Examinations Council (FFIEC) guidance, with which all financial institutions must comply in 2012 to reduce the risk of online banking fraud.
According to real-time research from SpyEye Tracker(1), today’s anti-malware software fails to detect crimeware at least 75 percent of time. The Anti-Phishing Working Group (APWG) estimates that 39 percent of all computers are infected with financial malware designed to steal personal and account information. As a result, online banking account takeovers are growing at a rate of 150 percent each year, based on research published by FS-ISAC (Financial Services Information Sharing and Analysis Center).

Green Dot Completes Integration with Green Dot Bank

Green Dot Corporation has completed a key milestone related to its acquisition of Bonneville Bank, renaming it Green Dot Bank. Approximately six months after closing on this acquisition, Green Dot successfully completed a highly complex enterprise-wide integration project to facilitate the issuance of the Company’s suite of MasterCard and Visa prepaid debit card products from its own bank. Issuance of the first cards from Green Dot Bank began earlier this month.

NFC Foundation Names Chair & Chair Elect

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.