FIS posted 2Q/13 revenue up 3.8% to $1.51 billion from $1.46 billion in 2Q/12. These results included debt refinancing costs and an adjustment related to the December 2010 acquisition of Capco, FIS’ global consulting business. Revenue was up 3.7% on an organic basis compared to the second quarter of 2012, which excludes the impact of…
FIS will be showcasing its Mobile Wallet with Cardless Cash Access at FinovateSpring 2013. A white-labeled, cloud-based mobile payment and offer redemption solution that allows financial institutions to fully brand and manage the customer experience, while offering consumers convenience and best-in-class security. The FIS Mobile Wallet enables the issuer to facilitate mobile commerce, maintain control of customer and transaction data and, most importantly, keep an institution’s brand at the center of the customer experience. Consumers benefit from the convenient and easy-to-use mobile solution as well as financially from coupons, loyalty programs and merchant-funded rewards.
FIS posted 1Q/13 revenue up 4.6% to $1.5 billion, compared to $1.4 billion in the first quarter of 2012, up 4.8% on an organic basis. Organic revenue growth, which adjusts for the impact of acquisitions and foreign currency demonstrated growth in International Solutions accelerating to 10.8%. First quarter 2013 non-GAAP results exclude after-tax acquisition related…
FIS banking and payments completed the acquisition of mFoundry mobile banking and payment solutions for financial institutions and retailers. The resulting combination creates one of the leading mobile entities in the financial services space and enables FIS to leverage its technology assets across a broader client base.
mFoundry and MasterCard partnered to make MasterPass connected wallets available to mFoundry’s nearly 900 bank customers. The integration with mFoundry’s mobile banking solutions allows millions of consumers to use any payment card or enabled device to discover enhanced shopping experiences that are as simple as a click, tap or touch – online, in-store or anywhere. mFoundry will create a digital wallet service using the MasterPass APIs to provide its customers with a MasterPass-connected wallet as part of its mobile banking platform and deliver a truly integrated mobile banking and payment solutions.
MasterCard launched its “MasterPass” ‘future of digital payments,’ offering consumers a digital service to use any payment card or enabled device to discover enhanced shopping experiences. An expansion of “PayPass Wallet Services,” “MasterPass was announced Spring of 2012 and offers checkout services to provide merchants a consistent way to accept electronic payments regardless of where the consumer may be. For in-store scenarios either at the register or in the aisle, MasterPass will support the use of NFC, QR codes, tags and mobile devices used at points of sale. It provides shoppers a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase. Consumers can securely store card information, address books and more in a secure cloud, hosted by an entity they trust.
FIS banking and payments technology signed a definitive agreement to acquire the remaining 78% interest in mFoundry mobile banking and payment solutions for financial institutions and retailers. In mFoundry, FIS previously held a 22% interest. This development creates one of the leading mobile entities in the financial services space and enables FIS to leverage its technology assets across a broader client base. mFoundry’s customer-focused solutions have become a leading platform for mobile banking and mobile retail and have been adopted by some of the largest banks, credit unions, payments processors and retailers in the country.
Mobile Wallet Media introduced an option for standardization in m-payments in an otherwise fractured. The “Merchant Customer Exchange” (MCX) was founded to allow a mobile or digital wallet to utilize any mobile payment technology adopted by a retailer, whom must be registered for a mobile wallet using the invention’s technology. The mobile payment service provider must also be integrated to work with the invention’s technology. The retailer just needs to login into the mobile app, verify store location and can then implement the standard mobile payment technology.
Blackhawk Network prepaid and financial payments products partnered mFoundry allowing it to offer digital and physical gift cards from hundreds of brand name merchants to smartphone users through Fin.X from mFoundry. Fin.X is the next generation mobile banking platform from mFoundry, North America’s leading provider of mobile banking and mobile payments. Smartphone users whose financial institution has deployed Fin.X and offers this option can browse and buy gift cards electronically from entertainment, fashion, dining, and home improvement brands that have a relationship with Blackhawk Network. The purchased gift cards are accessible via the consumer’s smartphone and can be redeemed electronically at participating merchants.
Banks and credit unions can now generate additional top-line revenue by offering a low-cost money transfer service to their mobile banking customers through a partnership announced today by Dwolla and mFoundry. Dwolla, a groundbreaking online and mobile digital cash network that allows mobile banking consumers to move money to other financial institutions right from their smartphones, will now be available to banks or credit unions that have deployed Fin.X from mFoundry. Fin.X is the next-generation mobile banking platform from mFoundry, North America’s leading provider of mobile banking and mobile payments.
Los Angeles Firemen’s Credit Union (LAFCU) upgraded its mbanking app to accept mobile deposits, offering access to convenience tools. This allows users to check account balances and history; transfer funds; make bill payments; and find ATMs. Clients now can also deposit checks by taking a picture of the check with an iPhone or Android device for immediate access, without having to take time out of their busy schedules to drive to a branch or ATM.
Open Solutions announced its DNA core processing platform has won the Technology, User Experience, and Alliance Core Banking Awards from Aite Group. DNA won the most awards of any core platform mentioned in the report – including systems from Fiserv, FIS, Jack Henry and Harland – demonstrating how DNA is a dramatically different core banking platform.