In today’s CardFlash News Que: VISA (Movember); American Express (Presido); SYNCHRONY (DoD); and REPORTLINKER (Europe).
Malauzai Software has seen significant growth in banking via the smartphone camera in the first half of 2014. Usage of mobile banking features such as mobile remote deposit capture and mobile photo bill pay has increased as smartphone cameras have advanced in functionality.
Higher One announced from the floor of the Alliance HEUG conference (booth 706) it has achieved Oracle Validated Integration of Higher One Payment Processing with Oracle’s PeopleSoft Campus Solutions 9.0. Higher One provides payment processing to campuses across the country. For institutions, these services can offer assurance that transactions will occur in real-time and within the strictest of security standards, all through a proven integration. To achieve Oracle Validated Integration, Oracle partners are required to meet a stringent set of requirements that are based on the needs and priorities of the customers. This proven strategy can assure institutions that they can rely on Higher One’s virtually seamless processing of payments made by students and parents, including online, on-campus, international and mobile payments.
The Center for Financial Services Innovation (CFSI) and Hudson Institute released the “Double Duty: Payments Cards as a Doorway to Greater Financial Health” report. Illustrating the potential e-payments to help government benefit recipients improve their financial health and capability through access to more information about their benefit payment, the report shows in January over 62 million consumers received Social Security or Supplemental Security Income benefits. Of this figure, 90.8% used direct deposit, 3.6 percent used the Direct Express prepaid card, and 5.6 percent received a check. Virtually all 22.3 million recipients of the Supplemental Nutrition Assistance Program (SNAP) receive their benefits via monthly loads to payment cards. About 8.2% of U.S. households (17 million adults) do not have a bank account. When recipients are required to receive their benefits electronically, those who cannot choose direct deposit receive the default choice instead”a prepaid debit card.
Riding on any Southeastern Pennsylvania Transportation Authority (SEPTA) vehicle soon won’t require passes, farecards, tokens or cash. As part of a $122.2 million contract with ACS, A Xerox Company (NYSE: XRX), passengers will instead be able to digitally pay their fare with a quick tap or wave of their “contactless” credit or debit card or even their smartphone. SEPTA will be one of the first in the country to offer riders the ability to travel and pay this way. The new system will allow passengers to pay their fares using a card many already have in their wallets. It will be more secure due to strict banking industry standards, and more convenient and simpler than fare payment options available elsewhere. Working with New Jersey Transit, The Metropolitan Transit Authority (NY) and The Port Authority of New York and New Jersey, ACS, was the first to demonstrate that complex, regional fare collection systems can accept regular contactless credit and debit cards.
MasterCard Worldwide and Starwood Hotels & Resorts Worldwide announced Starwood will participate in the MasterCard enhanced folio data program. Starwood will add nine new hotel brands and more than 1,000 properties worldwide to the program, expanding the number of business traveler-preferred hotel choices available from which corporate travel departments can receive line item expense data from employee corporate payment card purchases. The MasterCard hotel folio data program delivers travel expenses made on a card in line-item detail, electronically and on monthly invoices, to offer travel managers ease and efficiency in travel policy monitoring.
The Credit Union 24 credit union-owned ATM and POS network Board of Directors has re-elected Mansel Guerry for an unprecedented fourth consecutive term as Chairman of the Board. Under his most recent term, Credit Union 24 has grown to become the nation’s largest credit union-owned POS network, as well as provide the nation’s largest surcharge-free ATM access available to financial institutions, and has developed robust EFT products and services to help credit unions navigate the many challenges they’ve been facing in recent years. Credit Union 24 also developed Debit Edge POS program to help credit unions protect their interchange income while facing the implementation of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Baldwin Hackett & Meeks (BHMI) high-volume transaction processing solutions released its video and web site for the Concourse Financial Software Suite for back office processing for electronic payment transactions such as credit, debit, ATM, point of sale, and prepaid. The video and web site describe the four primary business services that comprise the Concourse Financial Software Suite, which can be implemented as stand-alone products or as an integrated solution. Concourse continuously loads transactions from a wide range of data sources and begins processing the data as soon as it arrives, alleviating the end-of-day pressures associated with traditional batch systems while the Concourse business rules allow companies to invoke custom methods of transaction processing with no code changes or software outages.
Higher One Payments payment and cashiering solutions is joining the NACHA Secure Vault Payments network to offer the online payment method to its customers. The secure and private online payment network is designed specifically for the unique security and convenience requirements of online payments and e-commerce. It is offered through eWise to provide Online Banking ePayments (OBeP) technology and account management services. eWise is a payments and online financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure.
American Express will extend its philanthropic commitment to developing emerging leaders within the nonprofit sector with a five-year, $25 million funding commitment. The additional funds will be used to expand the American Express Leadership Academy and build partnerships with well-known leadership organizations including the Center for Creative Leadership. This in response to research showing 71% of Americans trust nonprofits more than they trust government or industry to address some of the most pressing issues of our time while 83% believe nonprofits do not always have the resources they need to invest in the growth and development of their employees, indicating a clear need for increased investment in nonprofit leadership.
WePay online payment service has released a public beta of its group payment product. Allowing users to create free FDIC-insured accounts and âshareâ them with others to maintain transparency and send electronic bills, WePay funds are made available with a WePay VISA prepaid card, paper checks, or electronic transfers. Clubs, organizations, and associations of all sizes can use WePay to send bills and collect money, solicit donations, send reimbursements, and spend money transparently while keeping funds separate to avoid mixing group finances with personal ones.
Visa has launched its month long “Go World” campaign initiative within New York Cityâs Grand Central Terminal, covering the subway corridor with 3D video and static images from the companyâs global Olympic-themed advertising. The “Go World” campaign will also utilize YouTube and Facebook to help bring more fans closer to the Vancouver 2010 Olympic and Paralympic Winter Games and Team Visa Vancouver athletes. At YouTube, Visa will introduce a complete redesign and content refresh of the Go World channel with six new commercials while its “Go World” Facebook fan page will offer Olympic fans regular updates and unique glimpses into the lives of Team Visa Vancouver athletes. The GCT advertising will target the estimated 3 million consumers whom pass through Grand Central Terminalâs subway corridor during the 28-day campaign period.