Swipp & VF
Danish mobile payment app Swipp and Verifone Europe have inked an agreement to integrate Swipp as an accepted payment method for more than 30,000 Danish merchants using Verifone devices.
Popmoney & TransferNow
U.S. Bank and Fiserv have expanded their relationship of 15 years. U.S. Bank, the fifth largest bank in the United States, inked a five-year renewal for the CheckFree RXP electronic billing and payment, Popmoney personal payment and TransferNow account-to-account transfer solutions.
CO-OP Mobile
CA-based CO-OP Financial Services is re-launching CO-OP Mobile, its mobile banking application now featuring optional real-time, person-to-person payments and remote check deposit capabilities for credit union smartphone users.
Xoom to send Indian remittances direct to user bank accounts
Xoom digital money transfer provider partnered with Punjab National Bank (PNB), to roll out instant bank deposit services to bank accounts in India using the revolutionary IMPS (Immediate Payment Service) platform. IMPS is a unique remittance processing platform for account-to-account remittance offered by the National Payment Corporation of India (NPCI). Xoom’s technology and IMPS’ technology will let Xoom customers send money from the United States instantly to many prominent banks in India via the IMPS system in the coming weeks. Currently, IMPS has 63 banks as part of its ecosystem. Xoom offers deposits to bank accounts in India including NRE and NRO accounts.
Euronet HiFX Acquisition a Done Deal
Euronet Worldwide has completed the acquisition of U.K.-based HiFX. The acquisition complements Ria, Euronet’s existing money transfer business, by expanding its offerings to include online-initiated, account-to-account international payment and foreign exchange services to high-income individuals and small-to-medium sized businesses. Under the terms of the purchase agreement announced on March 10, 2014, Euronet acquired HiFX for approximately [Pounds]145 million or $242 million. The purchase consideration was comprised of approximately 1.3 million shares of Euronet stock and approximately $185 million in cash, including approximately $78 million of cash on hand and approximately $107 million funded using Euronet’s revolving line of credit. HiFX, now a wholly owned subsidiary of Euronet, will present its financial results with Euronet’s existing money transfer segment.
Fiserv Refines Online Banking Solution
Fiserv has redesigned its online banking solution, Corillian Online, with new digital money movement capabilities into a simplified, task-focused design. The latest licensed version of Corillian Online from Fiserv brings Popmoney® person-to-person (P2P) payments and account-to-account transfers to the home page of the service, where they join existing bill payment capabilities. Design enhancements throughout the service, including the reduction of visual clutter and the use of iconography, reflect current design principles and simplify the user experience. The update also includes improvements to enable family banking and small business banking users to better manage their accounts, and segmentation functionality that allows financial institutions to offer customized banking features to different customer segments.
FIS Study Shows Convenience Fundamental to Real-time Payment Customers
FIS released a comprehensive banking behavior study showing consumers who transfer money person-to-person want to make those transactions immediate; and, while young consumers are more likely to be among the early adopters of real-time payments, most importantly, they want the process to be convenient and easily accessible. Conducted Ipsos Vantis, on behalf of FIS, the market research indicated consumer sentiments and potential economic value for banks that instantly authorize transactions in four key market groups: outbound foreign money transfer users, account-to-account (A2A) transfer users, person-to-person (P2P) payment users and online bill payers. Faster payment was rated as being important by 80 percent of outbound foreign money transfer users, because it provides both senders and recipients with peace of mind. The majority (58 percent) of A2A users also want to be able to transfer their money between accounts quickly and a large percentage (41 percent) of P2P users want recipients to be able to access funds immediately. Potential adopters of outbound foreign money transfer and P2P real-time payments most often want to use real-time applications to send money — as gifts, payments, for emergencies and more — to family members and friends.
MoneyGram Partners on Account to Account Transfer Services
MoneyGram signed an agreement with OzForex foreign exchange service provider to power mobile and web money transfers to customers. The agreement now gives MoneyGram customers the ability to make money transfers to bank accounts overseas via PC, tablet, or mobile phone. It also enables customers to execute transfers on specific dates or at specific exchange rate targets, and the option to buy “bundled transfers” to lock in low, ongoing average transaction costs. The agreement with OzForex enables MoneyGram to provide a channel to customers who need to transfer large amounts directly to an overseas bank account, which will also continue to offer cash-to-cash transfer options to these residents via its network of more than 321,000 agents in 198 countries and territories.
FIS Shows Revenue Opportunity in Real-time Payments
Offering real-time payments can help consumers better manage their financial lives, offer a differentiated banking experience and provide additional revenue streams for financial institution. Among other findings, the study reveals that the most positive responses to real-time payments are among people that are most sensitive to payment timing, such as outbound foreign money transfer users.…
ACI Worldwide Refines Online mBanking Platform
ACI Worldwide made available its “ACI Architect Mobile Banking” for the migration of online banking from the desktop to the mobile device. Offering features to iPhone and Android smartphones previously limited to the desktop including personal financial management tools, integrated bill payment and account-to-account transfers, “ACI Architect Mobile Banking” lets FIs deliver secure mobile browser capabilities, downloadable apps and text banking to their customers. With this, financial institutions can manage and control the desktop, mobile and tablet experience using a common set of administration and configuration tools to efficiently leverage the institution’s resources for digital channel management. It also lets FIs increase brand differentiation and offer a personalized user experience with user-specific messaging.
Eurogiro Picks Up Equens Exec, Appoints CEO
Michel Stuijt has been promoted CEO of Eurogiro from General Manager, Market Management at Equens. Bringing more than 25 years’ corporate banking and payment experience to the role, Stuijt will help Eurogiro offer members methods of payment product to their clients, be it cash payments or account-to-account transfers, initiated from any channel which the client prefers. Many transactions are pensions and workers’ remittances. Members share a strategy of creating a competitive advantage by insisting on cost efficiency, transparency and fairness in their payment services.
United Solutions, Interpro Partner on Hosted ATM solution
United Solutions Company, a credit union service organization that provides financial and technology solutions, and Interpro Technology ATM and EFT processing solutions partnered to offer credit unions a hosted ATM intercept processing solution. The base solution includes ATM capabilities not ordinarily offered as standard features, including remote deposit capture, advanced monitoring, electronic journal upload, comprehensive daily and management reporting, multiple currency support, cash management, PIN changes at the ATM, account-to-account transfer, voice guidance and more. The ATM intercept processing solution can integrate with any credit union core processing system and is offered through a CUSO arrangement that makes pricing extremely affordable.