LendProtect and Engaged partnered on short-term and installment lending for the underbanked consumer. LendProtect is the leading provider of real-time underbanked consumer data and risk scoring solutions and Engaged CRM is a secure loan sourcing platform built specifically for the financial sector. LendProtect has offered specialised credit risk data in the UK longer than any other company in the industry. The company provides real-time data regarding loan performance, payments, consumer stability and employment, which is not available from the mainstream credit reporting agencies. The data is analysed in order to provide instant lending decisions using a proprietary comprehensive scoring platform. LendProtect also provides instant, secure access to a prospect’s electronic banking statement which is instrumental in providing a more accurate affordability assessment. Consumers also benefit by receiving access to additional borrowing options.
MoneyGram teamed iinternational department store Debenhams to offer money transfer services to its customers. Debenhams’ customers will now be able to send and receive funds around the globe while doing their shopping at the 200-year old retailer in the UK. MoneyGram services are currently offered at 44 Debenhams locations across the UK via its Travel Money bureaus, with further store expansion planned in the coming months. It is anticipated that the new service will be used by thousands of new customers who will enjoy sending from such locations. For a leading retailer like Debenhams, offering the MoneyGram service to millions of customers wanting to send money to family and friends abroad creates a useful one-stop-shop on the high street.
Corethree has formed a strategic partnership with Barclays for the inclusion of Barclays Pingit ‘mobile check-out’ in Corethree’s award-winning mobile wallet for transport ticketing. This is a UK first in mobile commerce and sees the cutting edge UK tech company Corethree become the first business to integrate Barclays Pingit mobile checkout. Wessex Bus’ Uniconnect network in Bath will go live with Corethree’s m-ticketing solution on Monday 23rd September 2013 as part of Bath University’s freshers’ week. Over the next 12 months, Corethree and Barclays will rollout their mobile payment services to other transport operators to reach as many as 1 million passenger journeys per day.
Cardlytics Card-Linked Marketing launched its successful advertising platform, initially with Lloyds Banking Group. The U.K. market represents a new opportunity in Card-Linked Marketing, which allows advertisers to create purchase-targeted marketing, reaching consumers via their online and mobile banking applications. Online banking customers represent an important and engaged consumer channel: 50% of all U.K. adults report that they access their bank accounts over the internet, and 76% of those aged 25-34 report using the internet for online banking.
CoinTap is the creation of Bitcoin Ventures, Inc., a local virtual currency software development company that offers smart solutions for Bitcoin e-commerce. The product is a gift card which streamlines an otherwise tricky and time-consuming process of trading your money on a market for Bitcoins. A $50 gift card is redeemable for 50 dollars in credit, which can then be used to purchase Bitcoins at a competitive rate through the company’s website. While the Government of Canada views Bitcoins as a tradable commodity, but not a currency, Germany recently ruled that the Bitcoin is “private money” and therefore taxable, just like regular money.
Virtual Piggy will provide its youth-friendly payment system to the youth oriented sub-brand of SpiritHoods, SpiritHoods Kids. This offers detailed, high quality hoods inspired by the animal world. They have been profiled in Entrepreneur Magazine, Cosmopolitan, and LuckyKids, and are favorites of celebrities such as Khloe Kardashian, Vanessa Hudgens, and Bella Thorne. When you purchase a product from their ProBlue label, SpiritHoods donates 10% off net profits to a non-profit dedicated to the protection of that animal.
Lloyds TSB launched its enhanced Mobile Banking service, available across a wide range of smartphones allowing Internet Banking customers to access their money and manage their accounts. Customers can access Mobile Banking through their smartphone’s web browser – simply by logging on with their existing Internet Banking logon details. The new service provides Lloyds TSB customers with the ability to view account details and balances on Lloyds TSB personal accounts, savings accounts and credit cards; see mini-statements (last six transactions) on Lloyds TSB personal current and credit card accounts; pay bills or existing recipients; set up new payment recipients; transfer funds between Lloyds TSB personal accounts or savings accounts; and check credit card limits.
Fifth Third formally announces the opening of its Wilkinson Banking Center located at 2752 Ashley Road in Charlotte, North Carolina. The Wilkinson Banking Center is Fifth Third’s first green banking center in its North Carolina market and its second facility in its 12-state footprint. The Company opened its first green location in Orlando, FL, in May of this year. The Wilkinson facility was designed to use less energy and water than standard buildings and incorporates a number of environmentally-advanced features that lessen its impact on the environment. The facility will pursue Silver recognition under the Leadership in Energy and Environmental Design (LEED) standards set by the U.S. Green Building Council.
Blue Cod Technologies technology-enabled services for the property and casualty (P&C) insurance industry, and Prelude Software, a leading provider of payment management technology, announced a co-presentation to be delivered during the 2011 IASA Conference titled, “Payments Happen: How to Make Processing Happen Right.” This will discuss how carriers can dramatically improve their payment processing operations. Attendees will learn how the combination of intelligent business process services and state-of-the-art payment software can create a dispersion function that is fast, accurate, simple, secure and cost-effective. Several presentations will be offered during the open exhibit at the 2011 IASA conference.
David Hunter has been appointed the CEO Ukash Global eMoney Network. The former eMoney head of ClickandBuy and Paysafecard, Hunter has a track record of leading prepaid ventures into profitable growth. Ukash empowers people worldwide to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations. Globally, Ukash is active in more than 50 countries. It was established in 2001 under the holding company Smart Voucher and has since grown to more than 420,000 physical points of purchase, and is available in more than 50 countries around the world.
MasterCard Incorporated will acquire DataCash Group payment service for $520 million to develop a long-term growth platform. DataCash allows e-commerce merchants to process secure payments and develops outsourced electronic payments solutions, fraud prevention, alternative payment options, back-office reconciliation and solutions for merchants selling via multiple channels through its fraud solutions and technology platform. DataCash processed more than 240 million transactions for more than 1,400 merchants in 2009, for which it reported an annual revenue of $58 million with an EBITDA margin of 46%. Mastercard sees this development as a means to drive the growth of the e-commerce category with its acquiring customers for online purchases; expand and enhance its “MiGS” gateway business currently operating in the Asia Pacific region; to leverage its network and global presence by expanding DataCash to beyond western Europe; and to strengthen fraud capabilities and expertise.