Atlanta-based Vanco Payment Solutions has ankled Sandra Blair to lead its product development and IT. Blair is the former Head of Payments Practices for Alvarez & Marsal.
CardWeb.com’s CardData database of Company Profiles today features Bigcommerce.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Jim Kelly, Chief Executive Officer of EVO Payments.
NCR signed an agreement to become the primary technology provider for PRESENTE, the fund serving employees of Éxito Group. NCR Colombia will work with the Fund to deliver its first network of ATMs for its members. Using NCR’s technology, PRESENTE has already installed 14 ATMs, which are located at administrative offices, distribution centers, food industry, and the textile subsidiary Didetexco, in cities such as Barranquilla, Bogota, Cali and Envigado. PRESENTE becomes the first Fund for Employees with its own ATM network in the country. In addition, PRESENTE will use NCR APTRA eMarketing software to deliver personalized ATM experiences, advertising campaigns and service offers to the members, allowing a constant and immediate communication with them.
MoneyGram signed an agreement to acquire Nexxo Financial’s full-service money transfer kiosk business and to become the preferred money transfer and bill payment partner for Nexxo Financial. MoneyGram will acquire approximately 200 kiosks primarily located in California, Illinois and Texas. These kiosks will offer automated, self-service money transfers to MoneyGram agents worldwide allowing consumers to pay bills utilizing MoneyGram’s bill payment network. The move to expand MoneyGram’s use of self-service channels is a strategy in line with recent statistics. The FDIC has estimated that 60 million U.S. residents do not use formal banking channels as the primary method for their day-to-day financial services. This points to a growing need for convenient and affordable means to transfer funds.
Western Union global payments and Right Choice Money Services, a wholly owned subsidiary of Redstone FCU, announced an agreement for Right Choice Money Services to offer its customers Western Union global money transfer and online money transfer services. Right Choice Money Services customers can now send and receive domestic or international money transfers with funds accessible for pay out at more than 500,000 Western Union Agent locations in more than 200 countries and territories.
TIO Networks multi-channel expedited bill payment processor and Nexxo
Financial self-serve remittance for the U.S. Hispanic market have
launched “TIO” expedited bill payment services. Available through 100
self-service, cash accepting Nexxo Financial kiosks, the “TIO” network
provides terminals at participating retail stores in Phoenix, Tucson,
Houston, San Antonio, Austin, and El Paso. This allows underbanked
customers to pay bills in a convenient, safe and secure manner with cash
with expedited fund posting. The ATM-like machines allow the sender to
use a touch-screen to conduct a money transfer transaction simply
following the prompts and submitting the cash they want to send into the
Payment network provider Bling Nation has received a $500,000 grant from
CORFO, the Chilean economic development agency. The
grant will subsidize Bling Nation’s partnership with Micrologica, an
engineering company specializing in the
design and development of electronic products for applications in
telecommunications, financial services, transportation and related
industries. Bling Nation’s core technology is an integrated issuing and
processing platform designed specifically for local and regional banks.
Through its Community Payment Network, Bling Nation enables financial
institutions to more profitably support payments between their local
demand deposit account (DDA) customers and their merchant customers by
bypassing the current global debit payment model with an efficient,
cost-effective and local payment network. The CORFO grant
will finance a portion of the salaries of the specialized team employed
by Micrologica Innovation, overhead costs, training and travel expenses.
Micrologica Innovation, the consortium formed by Bling Nation and
Micrologica, is investing $2 million in the development of the hardware
and software tools that make up Bling Nation’s service offerings.
Product initiatives include mobile payment devices, software
applications to support mobile payments in smartphones, wireless
point-of-sale machines and contactless payment tags.
Nexxo Financial has installed its electronic money transfer service at
19 HSBC Credit Center branches across California and Texas. The new
solution provides self-service money remittance technology to customers
in the U.S., allowing them to conduct remittance to over 21,000
locations across Latin America and Mexico of up to $1,000. Remittance
can also be sent to the HSBC “La Efectiva” ATM/Visa card for use at more
than 1,400 HSBC branches and 4,500 ATM locations across Mexico. HSBC
Bank has assets of over $557 billion providing accounts to 68 million
customers while Nexxo Financial electronic money remittance service is
available at over 100 kiosks at nearly 2,000 locations throughout
California, Arizona and Texas.
TSYS Acquiring Solutions has signed AdvanceMe, a supplier of merchant cash advances for small and mid-sized businesses, to a “preferred partnership” agreement. The partnership expands the TSYS Acquiring Solutions product portfolio by providing its acquiring clients and their merchants with a best-in-class funding solution that is quickly becoming recognized as one of the most business-friendly forms of working capital available. AdvanceMe, Inc. in Kennesaw, GA is the nation’s leading provider of Merchant Cash Advances to small and mid-sized businesses. TSYS Acquiring Solutions is the preeminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry and its customers.
FirstBank Puerto Rico sold its $175 million bank credit card portfolio to MBNA and entered into a long-term agent contract. There are approximately 1.8 million credit card users in the country which has a total population of 3.9 million. The average annual charge volume per account in Puerto Rico is $1,600. Cardholders in the country owe nearly $4 billion on their card accounts, with the average balance of about $2,200. FirstBank will become the only Puerto Rico-based financial institution whose credit cards will be issued by MBNA. FirstBank, operates 96 financial services facilities throughout the country, and is the second largest bank in Puerto Rico, with assets of more than $12 billion. MBNA also issues credit cards in the United Kingdom, Ireland, Canada, and Spain.
FirstBank Puerto Rico sold its $175 million bank credit card portfolio to MBNA and entered into a long-term agent contract. There are approximately 1.8 million credit card users in the country which has a total population of 3.9 million, according to CardFlash International (www.cardflashinternational.com). The average annual charge volume per account in Puerto Rico is $1,600. Cardholders in the country owe nearly $4 billion on their card accounts, with the average balance of about $2,200. FirstBank will become the only Puerto Rico-based financial institution whose credit cards will be issued by MBNA. FirstBank, operates 96 financial services facilities throughout the country, and is the second largest bank in Puerto Rico, with assets of more than $12 billion. MBNA also issues credit cards in the United Kingdom, Ireland, Canada, and Spain.