With huge influx of new payment solutions into the industry, both opportunities and challenges for merchant acquirers have reached a new level. There is paradigm shift from conventional services, such as accepting mag-stripe debit/credit cards, and mail and telephone orders, to new acceptance channels as a result of e-commerce/m-commerce, contactless technology, mPOS and omni-retailing.
Customer search patterns and the ability to attain information in an instant is changing the way consumers choose banking products, according to a new commissioned study conducted by Forrester Consulting on behalf of Deluxe Corporation.
Leaf mobile POS tablets announced the introduction of Payment Apps, a first-of-its-kind marketplace through which merchant acquirers directly market their payment processing services to merchants using the Leaf POS system. The Payment Apps marketplace is seamlessly integrated into the Leaf POS platform, enhancing visibility, creating branding opportunities for processors, and providing merchants with more insight into their processing options. The marketplace offers a wide range of benefits to payment services providers, including increased sales via online referrals; an online profile highlighting key differentiators; improved customer retention via in-product branding, messaging, and upselling; and brand reminders every time the Leaf tablet is used to swipe a card. It also provides a convenient way for merchant acquirers to stay connected to their payment processor services through Leaf’s back office POS platform.
Data analytics and marketing firm Tranzlogic (www.tranzlogic.com) has partnered with Signature Card Services (www.singaturecard.com), giving the payment services provider an edge in the competitive processing marketplace. Being one of the first to beta test Tranzlogic’s proprietary technology has resulted in increased value and insight they have been able to bring to their merchants. Tranzlogic’s first-of-its-kind data analytics and marketing technology transforms a merchant’s credit card transaction data into actionable customer intelligence. By using Tranzlogic’s sophisticated tools, merchants of Signature Card Services will be able to better define and target their marketing efforts in order to find and keep their best customers.
Capital Payments has merged with Bluefin Payment Systems in an effort to stay ahead of a growing demand for secure gateway solutions in the payment industry. Capital Payments will begin offering payment acceptance technology solutions leveraging Bluefin’s processing platform, which specializes in secure payment processing solutions, including tokenization, end-to-end encryption, transparent redirection, and mobile payments. Bluefin Payment Systems was founded in 2002 by Ruston Miles to provide the market with a suite of advanced payment acceptance solutions as well as services that help take merchants out of PCI compliance scope.
Phoenix Managed Networks payment network is set to launch its “PaySecure” service designed to improve merchant payment security and compliance at the Electronic Transaction Association (ETA) annual conference. Merchants benefit from a fully managed firewall service featuring the Mako 6500 router, which assists merchants with simplified PCI accreditation, fast deployment and management of a host of in-store data applications through its intuitively simple usability. PaySecure represents an added value service that can be white labeled as part of their own offering. The Mako Networks leadership team will demonstrate the benefits of the Phoenix-Mako partnership.
Software-only service provider Acculynk has extended its product line to
include online card processing and Internet PIN debit available for
resale through Independent Sales Organizations (ISOs). With this, Acculynk
has introduced its “PaySecure Plus” payments platform, which includes
credit card and
signature debit processing, plus offers the added benefit of processing
Internet PIN debit transactions through PaySecure. Acculynkâs card
processing services include acceptance of all major credit and debit
cards, a full-service ISO and merchant support organization, and
competitive rates and margins. Acculynk introduced PaySecure in March
2009, and has since partnered with 7 EFT networks to process Internet
PIN debit transactions; the company has 1,000+ unique websites that are
enabled with PaySecure.
A new report found more than one-third of U.S. small businesses would be willing to consider using mobile banking if it were offered by their primary institution and 27% would even be willing to pay for the service. Aite Group found that banks’ failure to offer mobile banking services to small-business customers has not only resulted in lost potential revenues, but also missed opportunities to deepen relationships and achieve greater cross-selling success with this important customer segment. When asked how much they were willing to spend for mobile banking capabilities, 73% said they would not pay for such services. However, 15% said they would be willing to pay between $5 and $10 per month, about 3% said between $11 and $15 and 4% said between $16 and $20 per month was acceptable. Surprisingly, 5% said $21 to $25 per month was acceptable. Aite concluded that small businesses are looking for a host of extra functionalities above and beyond the requirements of vanilla mobile banking, such as wire approvals and positive pay. Banks will be looking to monetize small-business mobile banking, and an offering that does not justify end-users paying for the service is unlikely to receive implementation.
Welcome Real-time and US-based Maritz have teamed to offer “Maritz Real-Time
Rewards” loyalty program that will allow customers to redeem
points to make purchases and enable card issuers to deliver personalized
POS offers to increase brand loyalty as well as capture customer
information and preferences. Maritz Loyalty Marketing is a provider of
full-service loyalty marketing solutions, including rewards-based
loyalty programs. Welcome Real-time helps leading banks and retailers
increase their profitability by designing, delivering and supporting
real-time payment cards marketing programs that attract and retain
Citibank has deployed its “CitiRewards” portal in six new countries to
provide customers with enhanced points-redemption capabilities. The
program provides customers with a wider selection of 3,000 different
rewards options to be chosen by the card holder him/herself in response
to the typical rewards options that allot all customers identical
The 6 markets that have been recently introduced to this program include
Singapore, Malaysia, Thailand, Indonesia, the Philippines and Australia
and are among the additional markets Citi is targeting in the Asia-Pacific
region over the coming months. Currently, Citi has over 13 million cards
across Asia-Pacific and has partnered with over 500 establishments
around the world to provide “CitiRewards”. Additionally, Citi serves
nearly 200 million customers across more than 100 countries.
Boston-based Merchant Warehouse, the first to offer a full suite of credit card processing services and equipment on the Internet in 1998, reports that its merchant account sales this summer are up 65% compared to one-year ago. In July the company added 1,399 merchant accounts, an 84% year-on-year increase. Merchant Warehouse says the key has been cutting out several intermediaries in the traditional sales process, thereby offering credit card processing software, POS equipment, and merchant services at a reasonable price over the Internet. The Company now serves over 50,000 merchants.
Deutsche Bank has launched a full suite of credit cards following its roll-out of retail banking last year in the country. The new Deutsche cards include “Classic,” “Gold,” “Platinum”
and “Corporate” credit cards which can be personalized. Cardholders have access to more than 40 credit card designs which have been selected across categories as diverse as music, wildlife, zodiac signs, sports and child art. This feature has been introduced for the first time in India. Deutsche Bank’s product ambassadors in India – the legendary cricketer Sunil Gavaskar and tennis icon Sania Mirza – will promote Deutsche Bank credit cards in India.