First Data Corporation electronic commerce and payment processing announced the extension of the First Data “OfferWise” solution to all offer publishers and the first wave of First Data’s network of more than four million U.S. merchant locations. Over 500,000 merchant locations are now enabled to leverage the OfferWise solution for customized offers programs and other electronic incentive solutions, with more than 100 publishers using the platform to develop innovative, card-linked services. This same group of First Data merchants generated tens of billions of dollars in transaction volume at the POS both online and in-store in 2011. The open platform simplifies the offer redemption process and creation of card-linked services for consumers and merchants. It allows offer publishers or application developers to electronically attach offers such as deals, eCoupons and loyalty programs to one or more of a consumer’s payment cards or mobile wallet to enable streamlined and automatic redemption of the offer at the point of sale.
The online, mobile, social and location-based payments network, supported by The Members Group (TMG), has been seamlessly integrated with Veridian’s online banking platform, thanks to Dwolla’s FiSync service. FiSync allows a credit union or bank to connect the Dwolla payment platform directly to the financial institution’s existing systems. The advantage for the financial institution is that the credit union or bank brand remains front and center as customers interact with Dwolla. The advantage for the financial institution’s customers is real-time movement of funds. In Veridian’s case, however, FiSync has gone a step farther. Veridian’s members will have access to Dwolla directly through Veridian’s online site without the need for an additional Dwolla sign-up. Members will be allowed to make Dwolla transfers to any Dwolla merchant or person (Veridian member or not) with an email address, cell phone number, through a social network (like Facebook and Twitter) or based on location.
AppCharge payment technology allows any iPhone, iPad, iPod Touch and many Android devices to function as a terminal, giving merchants the opportunity to accept credit cards virtually anywhere. Available in the iTunes App Store and Google Play, AppCharge features easy to use technology that’s supported by round the clock technical service, making it easy for merchants to process payments in real time at a trade show, at home, or anywhere business can be conducted.
Payment Alliance International (PAI) electronic payment processing and Panoptic Security Qualified Security Assessor for PCI Data Security Standard (DSS) compliance programs forged a strategic partnership to provide PAI merchants with access to an online PCI compliance portal. Panoptic’s ExpertPCI solution has been integrated into the PAI Secure program, PAI’s industry-leading PCI compliance and indemnification program, where participating merchants can now complete their PCI industry-mandated Self-Assessment Questionnaires (SAQs) and Network IP Scans online by using a guided step-by-step SAQ wizard.
The Multos Consortium announced Discover Financial Services, in partnership with Diners Club International, has joined its organization. The MULTOS Consortium is a group of international blue chip organisations responsible for the promotion and development of the MULTOS specifications. With this, Discover will participate in the MULTOS Business and Technical Advisory Groups, allowing them to play a prominent role in the development and growth of MULTOS.
Fiserv announced that SAC Federal Credit Union has chosen to implement its “Acumen” account processing solution, along with its “Nautilus” for document imaging, “Prologue” Financial Accounting Services, “AML” Manager for anti-money laundering detection and reporting, “WireXchange” and solutions for ATM processing from Fiserv. SAC FCU is the largest credit union in Nebraska. Over the past several years, the credit union has grown rapidly and is now serving more than 70,000 members through a variety of channels, including 20 locations in eight counties. The credit union selected Acumen to provide the technology foundation for the credit union’s information infrastructure in order to improve efficiency, facilitate the delivery of new services and provide a superior experience to its members. Acumen is the newest choice in account processing for credit unions from Fiserv and features an open architecture, advanced functionality and superior ease of use, plus the ability to cost-effectively scale as credit unions grow.
Square launched new features today for Square Register and Pay with Square that further deepen the relationship between buyers and sellers. Square allows business owners to create rewards programs that both attract new customers and make existing customers return, again and again. With more than two million individuals and businesses able to accept credit card payments with Square across the United States, Square is focused on providing the tools people need to grow and manage businesses. Square Register users are five times more active on a weekly basis than Square Card Reader users and they process approximately 2x more revenue. Square’s latest offering will allow participating merchants to give regular customers VIP treatment starting with the first visit. Customers will be able to store cards from their favorite Square businesses and keep track of progress towards rewards.
Harland Financial Solutions announced Members Heritage Credit Union implemented its UltraData Enterprise Core solution, including UltraData Enterprise CRM, Cavion® Internet Banking, Cavion Voice Banking, Cavion Mobile Banking, Cavion Bill Pay and ActiveView® Content Management. The credit union selected this product set from Harland Financial Solutions to provide its members with high-touch service, while increasing efficiency. In addition to the ease-of-use of UltraData Enterprise Core, integrated member relationship management from UltraData Enterprise CRM will enable the credit union to improve the member experience by presenting a unified approach to service. ActiveView Content Management will aid the credit union in better managing the storage, retrieval and flow of documents and information across the entire organization, which will improve efficiency and enable the institution to better service members seeking information.
Omgeo made available new functionality on Omgeo ProtoColl, its automated collateral management solution. The new version of ProtoColl has been developed to help market participants manage their collateral and risk management operations ahead of the implementation of complex regulatory requirements for over-the-counter (OTC) derivatives clearing. The newest ProtoColl enhancements, available in version 7.5, provide market participants with a single, holistic view of their collateral exposures across bilateral and centrally cleared (CCP) OTC derivatives trades, as well as exchange traded derivatives and other collateral-related transactions such as repurchase agreements and securities lending activities. Users can manage the entire collateral life-cycle with ProtoColl, allowing them to execute robust counterparty risk management procedures and demonstrate the results to regulators and investors.
USA Technologies wireless, cashless payment and M2M telemetry solutions for self’serve, small’ticket retailing industries, announced that Glass Lewis & Co. (“Glass Lewis”), one of the nation’s leading proxy advisory firms, has recommended that USA Technologies’ shareholders vote FOR all nine director nominees on the WHITE proxy card at USA Technologies’ 2012 Annual Meeting of Shareholders to be held on Thursday, June 28, 2012. In its June 14, 2012 report, Glass Lewis lauded USA Technologies’ progress, particularly in the areas of governance, EBITDA turnaround, and LTM revenue growth. The report further noted 1Q/12 being the first full quarter that Mr. Herbert has served as CEO, the Company recorded a positive quarterly EBITDA of approximately $253,000, an improvement over the negative quarterly EBITDA figures recorded by the Company over the prior four quarters. In response to the Glass Lewis report, USAT was extremely pleased that Glass Lewis supports the election of all of USAT’s highly-qualified and experienced director nominees.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After months of cardholder pay-downs, card chargeoffs are on the way up once again. 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 the remainder of this year as…
ACI Worldwide (ACIW), a leading international provider of payment systems, announced a global partnership with Spectrum Message Services Pty Ltd, to deliver ACI mobile alerting powered by Spectrum’s MoneyGuard product. The combined solution will add a critical layer of protection to financial institutions’ fraud systems by using the flexibility and convenience of interactive SMS messages to identify and stop fraud quickly. Organizations utilizing ACI mobile alerting will be able to identify suspicious transactions in near real- time and send an SMS message to the customer containing details of the transaction such as location and amount. If that transaction is fraudulent the customer can respond with a simple ‘BLOCK’ message and the card can be frozen. This has the potential to stop fraud much sooner than current methods available while improving customer satisfaction by preventing cards from being blocked incorrectly by banks attempting to stop fraud themselves. The interactive nature of the system will help to improve customer service.