Pinnum for business provides business owners the ability to execute mobile transactions, reinforce customer loyalty, and deliver continuous marketing. The app is free to consumers, and pinnum will supply each business with marketing materials to assist in their promotion.
DFC Global Corp international diversified financial services company serving primarily unbanked and under-banked consumers announced at the Company’s special meeting of stockholders a majority of the outstanding shares of DFC Global common stock voted to approve the acquisition of DFC Global by an affiliate of Lone Star Funds (“Lone Star”). Houlihan Lokey Capital, Inc. is acting as financial advisor to DFC Global in connection with the transaction. Pepper Hamilton LLP is acting as DFC Global’s legal advisor. Jefferies LLC is acting as lead financial advisor to Lone Star Funds and Credit Suisse Securities (USA), LLC is acting as financial advisor. Jefferies Finance LLC and Credit Suisse AG are providing debt financing commitments for the acquisition.
Global Payments Asia-Pacific Limited (Global Payments), a leading pan-regional card payment processor in Asia Pacific, and Dialog Axiata PLC (Dialog), a premier telecommunications service provider in Sri Lanka, announced the launch of an innovative mobile payment solution that turns a smartphone or tablet into a mobile point-of-sale (mPOS) terminal — the first of its kind in Sri Lanka. This award-winning mobile payment solution* enables merchants to accept card payments beyond a counter-top sales environment and wherever business takes them within Sri Lanka. This mobile payment solution helps small and medium enterprises (SMEs) quickly and easily establish a means to accept MasterCard(R) and Visa(R) card payments through a smartphone or tablet. The business can download a free app provided by Global Payments on their mobile device and connect it to a secure card reader to start accepting card payments instantly.
Identive Group identification, security and RFID launched its “tomPAY” radio frequency identification (RFID) peel & stick tag that allows payment card manufacturers to offer contactless payment capabilities using consumers’ existing mobile devices. Showcased at the NFC Solutions Summit in Burlingame, California, “tomPAY” is based on Identive’s “tom” (tag on metal) smart inlay technology and features a unique peel and stick form factor that allows it to be manufactured using the same processes as an ISO PVC card, and then popped out of the card and affixed to a mobile phone. It allows contactless mobile payments in compliance with MasterCard “PayPass” specifications and also can be used for loyalty or other schemes. Additionally, tomPAY can be adapted to support EMV-compliant (SDA/DDA) chips, opening new opportunities for card makers and issuers to provide their customers with an EMV-enabled tap-and-go experience.
NetSpend Holdings general-purpose reloadable (GPR) prepaid debit cards and related financial services launched the PayPal Prepaid MasterCard. Linked to a PayPal account, the card gives users full access to its online functionality and features. Issued by The Bancorp Bank, offline the card can be used to withdraw cash from ATMs while money can be loaded onto the card through direct deposit or at more than 100,000 reload locations throughout the U.S. The PayPal prepaid card is competitively priced and offers many features including online Payback Rewards, an optional savings account, real-time account alerts via text message* and online budgeting tools.
Huntington Bank is converting its debit card programs to MasterCard and upgrading all its customers to a Platinum Debit MasterCard. Huntington will also implement the world-class debit and ATM transaction processing capabilities of MasterCard Integrated Processing Solutions (IPS). Also, the bank is remaining fee-free for debit card usage for its customers. The conversion of Huntington’s debit portfolio to MasterCard will include the nearly 1.5 million consumer and business debit cards issued by the bank. Card benefits include an upgrade for all Huntington customers to a platinum Debit MasterCard Card and fee-free debit purchases with zero liability for unauthorized transactions and 60-day price protection.
MasterCard Worldwide introduced its ‘Eat, Drink and Be Generous’ campaign dedicated to making every penny count in the fight against cancer to raise funds for research supported by the Stand Up To Cancer (SU2C) charitable initiative. Every time cardholders use their MasterCard cards when dining out from now through September 1st, MasterCard will make a penny donation on each transaction, up to $4 million total, to SU2C. Qualifying purchases include a cup of coffee or a quick meal to ordering take out and fine dining. The program works to accelerate the pace of groundbreaking collaborative research in order to bring new cancer treatments to patients quickly and save lives, for which online and in-restaurant materials, web banner ads, statement inserts and ATM messaging through MasterCard bank partners will help raise awareness and promote.
OrderMotion Web-based order management and analytics platform company serving the direct-to-consumer and eCommerce industries announced its official PCI Level 1 Certification as a service provider under PCI-DSS latest version 2.0. Version 2.0 was created to provide greater clarity on requirements, improve flexibility for merchants, help manage evolving threats, and align with changes in industry best practices. Early compliance with PCI v2.0 reflects OrderMotion’s position as a leading-edge service provider and its commitment to ensuring the highest level of data security for its customers. OrderMotion Order Management and Analytics Platform serves the needs of eCommerce and direct-to-consumer businesses with highly cost effective SaaS technology.
China UnionPay (UnionPay) and MasterCard Worldwide recently signed a Payment Gateway Service Agreement, allowing MasterCard e-commerce platform to accept UnionPay Cards. Both UnionPay and MasterCard will cooperate to configure their respective systems to equip the MasterCard Payment Gateway with the ability to process transactions made using UnionPay Cards for e-commerce merchants outside of mainland China. UnionPay and MasterCard announced that both parties also signed an Addendum to extend the term of their existing Memorandum of Understanding (MOU) for the establishment of a mutually beneficial relationship to explore future business development. The Addendum and Payment Gateway Service Agreement reinforces UnionPay and MasterCard’s cooperation to provide more efficient and value-added services for cardholders.
Currently, 62% of Americans who use a mobile phone would be open to using their device to make purchases wherever their errands may take them, particularly, 18-34 year-olds. With 63% of 18-34 year olds at ease using mobile phones to make purchases versus the 37% of those 35 or older, 65% feel more naked without their phones than their wallets, compared to only 34% of the elder group. These findings, according to the latest survey by MasterCard Worldwide, also indicate more men than women (51% vs. 40%) would be at ease using it to make purchases; 49% vs. 45% would be more impressed by someone who paid a bill with a mobile application than with a credit card; women more so than men (50% vs. 36%) feel more exposed without their mobile device than their wallets; while 45% vs. 34% would rather have their phones than their wallets ‘surgically attached.’ Across the board, however, 54% agree someone’s phone is more telling of their personality than their wallet.
Western Union global payments and Dollar Financial international diversified financial services company forged multi-year global agreement that extends and paves the way to add Western Union Money Transfer, Bill Payment and Money Order services across Dollar Financial locations in Canada, the United States and the United Kingdom throughout 2011. Dollar Financial Corp is a leading international diversified financial services company primarily serving unbanked and under-banked consumers and small business owners for over 30 years. Through its retail storefront locations as well as by other means, such as via the Internet, the Company provides a range of consumer financial products and services in seven countries (Canada, the United Kingdom, the United States, the Republic of Ireland, Sweden, Finland and Poland).
MasterCard Worldwide announced Ajay Bhalla has been appointed president of DataCash-which MasterCard acquired in 2010- and will now be responsible for all of MasterCard’s Commerce Gateway Services. Bhalla will provide leadership and management for MasterCard’s global end-to-end Gateway processing solutions organizations and the associated DataCash Fraud Tool and Risk Management services. He will be responsible for the profitability of the business, the operations and ongoing business integration, as well as developing the long-term vision, strategies and marketing plans that support global market expansion through new channels and service offerings. Bringing with him over 20 years’ experience in the financial services industry, Bhalla joined MasterCard in 1992 and most recently served as division president for South East and South Asia (SESA) where he introduced PayPass and helped develop the MasterCard Titanium card.