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Bill Me Later Rebranded PayPal Credit
Bill Me Later Is Now PayPal Credit, PayPal Working Capital Exceeds $150 Million and Both are Going Global – Gary Marino, SVP, Global Financial Services & North America. Since the pilot program launched last September, more than 20,000 businesses have collectively borrowed more than $150 million in PayPal Working Capital business loans through our lending partner, WebBank. The program is also expanding to the UK and Australia to fuel business growth. Businesses in these countries will have access to capital in minutes once they apply and are approved through a simple online interface. PayPal Working Capital allows these businesses to repay with a share of their sales they choose, and don’t repay on days they don’t have sales. Because the program uses a business’s sales history, there iis no credit check or extensive documentation required. The loan charges a single, affordable fixed fee instead of periodic interest so businesses know the cost of the loan up front. It’s that simple.
Evolving Credit Landscape
Offering these products more broadly is a sign of the power that credit brings to both merchants and consumers. Merchants can leverage credit as a tool to secure capital and grow their businesses. Additionally, they can offer credit with flexible payments options for their customers and immediate sales, while consumers experience freedom of choice when buying what they want – when they want it. We recognize this value isn’t limited to our US customers, so we are going global.
Greater Nevada Credit Union Deploys Fiserv Processing
Fiserv announced that Greater Nevada Credit Union (Greater Nevada), based in Carson City, Nev., has selected the DNA account processing platform from Open Solutions, now part of Fiserv. Recognized by industry leading analysts for its best-in-class technology, user experience and breadth of functionality, DNA from Fiserv is the first relationship-centered core banking platform built for global collaboration. DNA is a 24/7 continuous, real-time platform that employs a relational data model designed around the person, not the transaction.
Aperta Payment Processing Celebrates 20th
Aperta, a leading provider of payment processing solutions, is celebrating its 20th anniversary this month. Aperta was formed by 5 former system architects and managers for Unisys Corporation’s payment processing division. This core team comprised Jim Murray, Martin Wylupek, Colin Best, Steve Meechan and David Henderson. All have been actively involved with Aperta and its…
Payfone Recruits Top Management Team
Payfone remote payment processing service backed by American Express, Verizon and Roger Communications appointed four payment industry executives to its management team for on-going growth and expertise in remote payments. They include Prakash Hariramani as Vice President, Head of Product; William Murray VP, Financial Institution Sales; Scott Shepherd VP, Mobile Operator Management; and Amy Masters, Director of Marketing. Prior to joining Payfone, Hariramani was a Senior Business Leader and Head of Emerging Consumer Products at Visa. Murray comes to Payfone with 16 years of credit card experience at MasterCard Worldwide, where he was most recently responsible for initiating MasterCard’s merchant-focused eCommerce strategy. Shepard previously led Verizon Wireless product strategy and management for mobile commerce including mobile operator billing and mobile banking. Masters is responsible for the company’s marketing strategies, channel marketing, market research, public relations, and communications and was most recently VP, Marketing at American Express.
Collis launches terminal test suite
The Collis Merchant Test Suite offers an all-in-one EMV contact and contactless solution, developed specifically for merchants, processors and acquirers. This combines the strengths of specific Collis software and hardware used for terminal testing worldwide. Specifically built for the North American market, the Collis Merchant Test Suite provides the solution for American Express AEIPS; Discover & Diners Club Acquirer E2E; Interac Terminal Application, Acquirer, and Interoperability Certification; JCB TCI; MasterCard M-TIP and NIV; and Visa ADVT, ADVT-qVSDC, CDET.
Mako Networks Adds New Features to Network Appliance
Mako Networks released a new model of its award-winning Mako 6500 network appliance incorporating a 3G mobile data connection to keep business flowing during ADSL or Ethernet network outages, or offer connectivity in areas not served by fixed-line networks. The new Mako 6500 features a failover option, so that in the event of a fixed-line network outage the appliance will automatically switch over to a wireless 3G connection. When the primary connection becomes available again, the Mako 6500 will fall back to its original connection method. Mako 6500 3G units continuously check the health of their wireless connection to ensure a mobile network is available and on standby in case it is needed. The Mako 6500 is compatible with all 3G networks, including Telecom, Vodafone and 2degrees.
Bank of America Merrill Adds to Card Platform
Bank of America Merrill Lynch for its global treasury management and online banking channel added its “CashPro Online” for commercial and corporate clients to perform routine transactions and make informed business decisions. This includes “CashPro Payments” global payments hub; “CashPro InformationReporting,” helping clients actively analyze and research their financial transactions and position; and “CashPro Mobile.” The “CashPro” spectrum lets clients initiate wire transfers, automated clearinghouse transactions and internal transfers, through a single application.
Bank of America Merrill Lynch Expands eBanking Platform
Bank of America Merrill Lynch announced that its electronic bank account management (eBAM) service is now available to a wide range of corporate and commercial clients in the United States and Europe. The extension of service follows a successful yearlong pilot with several early adopter clients. The “eBAM” integrated global application helps automate and standardize the opening, closing and maintenance of bank accounts, treasury services and bank record of legal entities. It facilitates the addition and deletion of authorized signatories and the digital execution of documents using e-signature technology, virtually eliminating the need for ink signatures. In addition, reporting capabilities provide an audit trail of account management activities as well as a view into account signatories. Clients gain control by checking the status online and receiving email notifications regarding eBAM activity.
Mako Networks Appliance Awarded Security Certification
Mako Networks network management company received certification from ICSA Labs for its “Mako 6500” network appliance. This recognition comes after a comprehensive battery of tests performed on a “Mako 6500” unit sent for evaluation, checking for overall security, user administration and resilience against intrusion attempts. Mako Networks appliances allow small businesses to deploy firewalls to protect their computer networks and assist companies to comply with PCI DSS, for which it is the only certified network management company.
PCCW Teleservices Achieves PCI Compliance Level 1
PCCW Teleservices global outsourcing solutions has achieved Level 1 PCI DSS compliance, demonstrating its dedication to ensuring the highest possible data security in its solutions. PCCW Teleservices serves the business process outsourcing (BPO) needs of a diverse roster of clients across multiple vertical markets and every year handles millions of customer sales and support transactions, many of which include credit and debit card information.
VSoft Introduces Core Processing Solution to Credit Unions
VSoft Corporation core processing solution, “CoreSoft,” is now available to credit union customers. UCF Federal Credit Union selected CoreSoft to improve efficiency and enable a more customized, member-centric approach to its service. The “CoreSoft” platform allows financial institutions to replace legacy systems with technology that delivers seamless, real-time, high-volume and high-performance transactions across multiple channels. Its open platform offers a unique, universal design to enhance workflow and flexibility. UCF FCU, a non-profit, member-owned institution that serves more than 4,000 members of the University of Central Florida community, selected CoreSoft to increase its front and back end efficiencies. VSoft Corporation is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. Its broad image-based solutions include distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, and remittance and lockbox operations.