iPayment Board
NY-based iPayment added four new members to its Board, including David R. Hughes, Marshall J. Lux, Michael P. Monaco and Brian V. Mooney
iPayment Financing
NY-based ISO iPayment, serving 153,000 U.S. merchants, completed exchange offers and consent solicitations in the amount of $509 million. The move will significantly reduce debt and improve cash flow.
PayPal in 200 Markets
PayPal, a leading global payments provider, announced plans to introduce services into 10 new markets including Belarus, Cameroon, Côte d’Ivoire, Macedonia, Moldova, Monaco, Montenegro, Nigeria, Paraguay, and Zimbabwe. These 10 new markets will be able to register for a PayPal account and start making payments on millions of websites around the world without the worry of entering their credit or debit card details online. PayPal gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts or credit cards.
InComm Mobile Platform Launched
InComm today announced the launch of InComm Mobile Platform (IMP) for mobile wallet providers and merchants. IMP integrates with multiple platforms to provide a full-breadth of capabilities required to process mobile payments made using prepaid cards at retail POS. The platform also enables InComm to develop and host mobile applications for merchants and partners. Canadian communications and media company Rogers is the first company to leverage IMP for development of the recently launched suretap™ wallet.
Incomm Partners With MOL
InComm, a leading prepaid product and transaction services company, has entered into an exclusive arrangement with Money Online (MOL), one of Asia’s leading online payment service providers, to launch point-of-sale-activated (POSA) gift card mall solutions in Southeast Asia. MOL is majority owned by Tan Sri Dato’ Seri Vincent Tan, founder and majority shareholder of Berjaya Corporation, one of Malaysia’s largest conglomerates, which also owns the local rights to various retail brands such as Starbucks and 7-Eleven.
CHINA UNION-PAY 2013
China UnionPay, the national bankcard association in China, reached a number of milestones in 2013 and is now accepted in more than 140 countries and regions and covering more than 10 million POS terminals and 1.1 million ATMs outside of China. Over 24 million UnionPay cards have been issued in about 30 overseas markets. Among major developments last year: The first UnionPay card was issued in Africa; the first time UnionPay has come into cooperation with an international tourism retail group; the first UnionPay credit card is issued in North America; the first time that CUP has cooperated with a local institution in Nigeria to expand the acceptance of UnionPay cards on a large scale; the first UnionPay debit card issued in Australia; and the first UnionPay travel card outside China is issued in Singapore.
Euronet Announces Pan-European Prepaid Card Issuing
Euronet 360 Finance Ltd., a subsidiary of Euronet Worldwide, launched of end-to-end prepaid card issuing, processing and BIN sponsorship solutions in Europe. Euronet 360 Finance Ltd., under the supervision of the UK’s Financial Conduct Authority (FCA), is now providing electronic money and payment services through card issuing, BIN sponsorship and payment card acquiring. By passporting the e-money license across the Single Euro Payments Area (SEPA) territory (except Monaco), Euronet 360 Finance Ltd. is able to issue cards and process transactions across the entire European Economic Area (EEA). Euronet’s complete prepaid card solution provides non-FCA licensed organizations with the ability to quickly, easily and cost effectively enter the prepaid card arena. Euronet’s prepaid card solution include the support of physical and virtual cards, for one-time, gift card or reloadable use with contactless functionality through MasterCard Paypass.
NFC Forum & WIMA’s NFC Global Competition Winners Announced
The NFC Forum, a non-profit industry association that advances the use of Near Field Communication (NFC), and WIMA, a worldwide event dedicated to NFC technology, have announced the winners in their Tap Into Innovation: NFC Global Competition 2012. Travel was the common theme in the judges’ selections, while the audience voted for NFC badges that…
Western Union and Roshan Partner for mMoney Transfer
Western Union global payment services and Roshan total communications partnered to kickoff the Western Union Mobile Money Transfer regionally. This will add international remittances to the “M-Paisa” service, part of the Vodafone mobile money family. This lets customers receive their salaries, pay bills, receive and repay microfinance loans, send and receive money and purchase airtime directly from their mobile phones. With the introduction of the new service, M-Paisa customers will be able to receive Western Union Money Transfer transactions from around the world directly in their mobile wallet accounts.
NFC Forum & WIMA Call for Entries to NFC Global Competition
The NFC Forum and WIMA announced a call for entries to “Tap Into Innovation: NFC Global Competition 2012,” recognizing the development and deployment of innovative and exemplary NFC solutions. Co-sponsored by the NFC Forum non-profit industry association that advances the use of NFC technology and WIMA, a worldwide event dedicated to NFC technology, the competition is expected to attract global entries spanning a diverse range of applications and industries. NFC has already sparked breakthrough innovations in areas such as access control, gaming, healthcare and wellness, hospitality, loyalty, marketing, mobile payment, mobile social media, online banking, pairing of consumer electronics devices, and retail. Categories include Best Innovative Solution for the entry that uses NFC technology in the most inventive way to address a market, business, or consumer need; Best Business Viability for the entry that offers an NFC solution with the most commercial potential; and Best User Experience for the solution that best leverages the power, ease, and convenience of NFC technology. First-place winners will receive a Global Competition trophy and all nine finalists will receive a certificate of commendation.
iPayment to Present at the Bank of America Conference
iPayment will be presenting at the Bank of America Merrill Lynch Leveraged Finance Conference at 9:30 a.m. EST on December 2. Discussions will be led by Chairman and Chief Executive Officer of iPayment and the Company’s Chief Financial Officer, offering an overview of the Company, its business and growth strategies and recent financial results. iPayment provides credit and debit card payment processing services to small merchants across the United States, allowing merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well as other forms of payment, including debit cards, checks, gift cards and loyalty programs.
Citi Commercial Cards to Issue Chip & PIN Card
Citi launched its “Citi Corporate Chip and PIN” compliant smart card designed for U.S. corporate cardholders traveling abroad. The card includes an embedded microprocessor and was developed in direct response to clients’ needs to use their U.S. commercial cards while traveling to regions where merchants are more familiar with chip cards and for use at un-manned kiosks where an agent is not always available to run the transaction through a POS device. Citi has achieved its rapid expansion around the globe by providing clients with the consistent business experience that only a common unified technology platform and lack of reliance on bank partners can provide. As a result, Citi clients around the world benefit from consistent customer service, functionality, reporting, and innovative products such as the Citi Corporate chip and PIN card.