JetPay has closed on the acquisition of ACI Merchant Systems, a Langhorne, PA- based debit and credit card processing company. The combined company will process approximately $20 billion in payments for approximately 14,000 businesses throughout the USA.
Percival (Perc) B. Moser, III has joined Metro Bank as senior VP and COO while Lori A. Calhoun is to serve as senior VP and chief risk officer. Moser previously was an executive VP at TD Bank where he oversaw credit support operations. He also was a member of the National Clearinghouse Association board of directors and the Philadelphia International Bank board of directors and Banking Administration Institute’s cash management executive committee. Calhoun was senior VP and senior risk officer for PNC Financial Services Group and is a member of the Risk Management Association, the Association of International Product Marketing and Management and the American Marketing Association.
Pennsylvania farmers markets and farm stands accepting Supplemental Nutrition Assistance Program, or SNAP, benefits can now apply to receive one of 145 available wireless electronic benefit transfer (EBT) machines offered through the Pennsylvania Department of Agriculture using a federal grant. The machines can also be used for credit card purchases, and training will be offered…
Metro Bank introduced its “Pay Anyone” free feature online bill pay service, allowing people to send personal payments to anyone with a U.S. bank account just by using the recipientâs e-mail or cell phone number. Payments are sent directly from the senderâs bank account to the recipientâs bank account and can be deposited in as fast as one business day. The “Pay Anyone” service includes quickly and easily sending money to children in college, collecting money for group gifts, splitting the bill for dinner or paying the babysitter. Metro Bankâs online banking service enables customers to instantly access their account information; transfer funds between Metro accounts; view 18 months of electronic account statements and bill-pay history; apply for a loan and more. Metroâs online banking customers used free bill pay to pay nearly 730,000 bills in the first ten months of 2010.
Metro Bank has launched “America’s Next Great Credit Card” personal Visa credit card. Offering a 9.90% APR, no annual fees, no late fees and no balance transfer fees, the Metro Bank Personal Visa Credit Card. The average consumer credit card rate was 16.79% APR. Metro Bank’s credit card services also include online account access and a 24/7 live customer call center. Customers can apply by visiting their nearest Metro Bank store or calling the bank. Metro Bank has 33 stores throughout PA, offering seven-day banking, free checking, free instant-issue Visa debit card, free coin-counting machines, free online banking and 24/7 live customer service.
WI-based Fiserv reports fourth quarter revenues of $1.06 billion, down
slightly from 4Q/07. However, net income fell 35% to $62 million. The
Payments unit posted a 63% increase in Q4 revenues to $559 million and
operating income of $157 million, a 73% increase. During the quarter,
the Company signed 128 clients for its electronic bill payment services;
extended its value added reseller bill payment relationship with Digital
Insight for three years; inked a deal with Commerce Bank/Harrisburg to
provide a full suite of account processing technology solutions; signed
Greece’s Piraeus Bank for the Fiserv “Universal Banking” solution; and
BB&T rolled-out the Fiserv “Branch Source Capture” solution.
Additionally, Fiserv acquired i_Tech Corporation in December 2008 from
First Interstate BancSystem. The company expects 2009 adjusted internal
revenue growth to be in a range of 0% to 4%. For complete details on
Fiserv’s latest performance visit CardData (www.carddata.com).
Los Angeles-based Smart SMS has appointing Layne Bednar, previously with Legend Locations as COO. At Legend, Bednar created and implemented custom database solutions, streamlined and designed all sales procedures, and was responsible for all Information Technology implementations, resulting in a revenue growth of over 30% in comparison to the previous year. From 1996 to 2003 he held a Sales Engineering and Territory Manager position with Harper and was the exclusive manufacturer’s representative for semiconductor manufacturers AMCC – Applied Micro Circuits Corporation, Atmel, Globespan DSL (now Conexant) and other manufacturers and was responsible for frontline concept and design sales of microprocessor and advanced memory semi-conductor technology solutions to the emerging smartcard, loyalty card, and bankcard industry. Bednar holds an Electronics Engineering Degree from Electronics Institutes in Harrisburg, PA. SmartSMSCorp is a mobile entertainment marketing and distribution company that specializes in market branding via text and MMS.
Wells Fargo Financial Retail Services has selected PA-based Furniture First for a “Client Award” for its successful private-label credit card program. Furniture First has 125 member companies with more than 280 stores in 41 states. Combined, they have annual furniture and bedding sales of more than $1 billion.
TransUnion’s TrueCredit said it has signed up more than 40,000 consumers for its new “3-Bureau Credit Monitoring” service. The service was launched six weeks ago when all the bureaus were required to offer free reports nationwide. The free reports were mandated by Congress in “The Fair and Accurate Credit Transactions Act of 2003.” All three credit bureaus have introduced additional fee-based services to offset the cost of the free report service. TrueCredit’s “3-Bureau Credit Monitoring” offers unlimited access to reports and scores for $9.95 per month. In late August CardFlash reported that the TransUnion monitoring service was suspended after staff members trying to purchase the service were notified that “credit monitoring services were currently unavailable.” However, TransUnion insists the technical problems with the service affected a very small percentage of cardholders. Yesterday, TransUnion says it estimates that 99% of its customers will be able to enroll with the “Credit Monitoring” without a problem. The credit bureau says there will be a tiny number who will be unable to use the service for one reason or another–such as difficulties authenticating their identity.
Online fraud fighting specialist Cyota reports a 633% increase in the number of phishing attacks against credit unions and small/regional banks since January. Last month, Cyota observed that 22 CUs were attacked by phishing scams. Only one or two attacks occurred against each of these institutions — as opposed to hundreds of attacks each month for larger or global banks. Cyota’s “FraudAction,” launched in late 2003, has dismantled more than 7,000 phishing sites in 65 countries and lowered an attack’s life expectancy to an average of five hours. Cyota also this morning announced that the Pennsylvania State Employees Credit Union has deployed Cyota’s “FraudAction” service to proactively fight phishing, pharming and other forms of online fraud. Cyota’s additional products include Cyota “eSphinx,” a strong two-factor authentication solution for online banking; Cyota “eVision,” the company’s online fraud management solution; and Cyota “SecureSuite,” an e-Commerce fraud solution supporting “Verified by Visa” and “MasterCard SecureCode.”
Wells Fargo Financial Retail Services has inked a deal to issue a credit card for Pennsylvania-based Furniture First and its more than 250 stores in 41 states. Wells Fargo will provide account management and sales support, sales training, client support, integrated technology, and customized marketing solutions. Furniture First has 116 members and sales of more than $1 billion. Wells Fargo Financial, a unit of Wells Fargo & Company, is a $38 billion company providing consumer credit cards, lending and financing.
Amisys Synertech Inc. and PacifiCare Health Systems have agreed to a two-and-a-half-year contract extension for business process outsourcing (BPO) services to support PacifiCare’s Self Directed Health Plan in western states through June 2007. ASI provides in-depth software products and advanced outsourcing and claims processing services for healthcare payers. PacifiCare serves more than 3 million health plan members and approximately 9 million specialty plan members nationwide with revenues of $11 billion.