CT-based CardFellow, a free web-based service helping businesses find their perfect credit card processor reports its client portfolio now exceeds $1 billion in transactions processed each year. The Company also inked an agreement with credit card processor Payment Depot.
First Data posted 3Q/15 revenue of $2.9 billion, up 5% year-on-year (YOY). Segment revenue, which modifies consolidated revenue for pass-through items and other impacts, was $1.8 billion for the quarter, up 4% YOY, or up 7% excluding currency impacts.
Visa announced a new program that connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services.
Oslo-based NEXT Biometrics has been chosen to provide its fingerprint imaging sensor in the new BIO-key EcoID, a low-priced compact USB touch fingerprint reader.
First Data Merchant Solutions revenues were flat for Q3/14, while Financial Services jumps 7% and the International segment gains 4%. During Q3/14 First Data announced its collaboration with Apple Pay and acquired Gyft.
Visa Inc.and FIFA’s exclusive Financial Services partner for the 2014 FIFA World Cup Brazil, today shared its global FIFA World Cup activation program, which will enhance the sporting experience for millions of fans, clients and partners in 104 countries worldwide. Engaging film and print spots featuring Nobel Peace Laureates, alongside dynamic and interactive social engagement programs, and a seamless in-stadium payment technology experience, enables fans at the tournament, or anywhere in the world, to be part of the FIFA World Cup celebration.
Heartland Payment filed a federal lawsuit against Mercury Payment Systems for false advertising, unfair competition, intentional interference with contractual relations, and intentional interference with prospective economic advantage. The suit alleges that Mercury is illegally competing against Heartland with deceptive trade practices and that Mercury is effectively misleading merchant customers by deceptively hiding its excess profits in the interchange fees charged by credit card networks and their issuing banks, in violation of the Lanham Act.
The suit seeks to stop Mercury’s routine deceptive pricing practices to secure new retail customers and maintain their existing merchants. The suit also seeks to recover full value for each merchant and prospect Mercury has wrongfully taken from Heartland by deceptively falsifying pass-through interchange costs and other illegal methods. Heartland explains that the fees charged by credit and debit card issuers – the issuing banks plus card brands such as Visa and MasterCard – are collectively known as network, or interchange, fees. Interchange fees are set by the card brands, and are typically adjusted twice a year. The complaint also alleges that Mercury imposes significant costs and barriers for changing providers, falsely informs merchants that they are the only processor that supports their point-of-sale card swiping equipment, and falsely represents their company in commercial advertising and promotions as guaranteeing the best rate, among other charges.
American Express Serve announced its nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account. It features Direct Deposit, Bill Pay, Mobile Check Capture, Personal Financial Management Tools, and Reserve, which allows customers to put money aside for future expenses. The Free Cash Load Network allows American Express Serve customers to take cash to the register at more than 14,000 participating CVS/pharmacy and 7-Eleven stores and add it to their American Express Serve Account on its own Vanilla Reload Network. The can also add their paycheck or government disbursements directly into their Account through Serve.com and use their smartphone camera to snap a photo of a check and add it directly into their Account using the Serve mobile app. American Express Serve will charge a monthly fee of $1 beginning December 3, 2013.
Green Dot banking and payment solutions partnered UniRush to launch the RushCard Live Reloadable Prepaid Visa Card. The prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide is a cost-effective alternative to a traditional bank account. Available only at retail, it offers early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans. Customers also have access to fee-free transactions at more than 22,000 ATMs via the nationwide MoneyPass ATM network, worldwide merchant acceptance of Visa debit, online bill pay, and a mobile app which includes real-time views of account balances and transaction histories.
Kony Solutions mobile and multi-channel application platform provider introduced a new version of its “Kony Mobile Retail” packaged mobile solution. At the Shop.org show, where the solution was introduced, Kony’s Chief Mobile Officer will partake in a “Masters of Mobile” panel discussion on the connection between retailers and consumers. Kony Mobile Retail was designed for both online and brick-and-mortar retailers. New features allow customers to browse entire product catalogs, use store locators, shopping carts, gift registries, and loyalty cards. It is also configurable with web-based interface lets marketers and developers create personalized and individually-branded mobile experiences, modify look-and-feel, enable and disable features, and re-organize menus – all without any coding and extended to support business-specific applications and requirements, such as third-party solutions or a retailer’s own custom-built modules.
TNS data communications services posted 2Q/12 total revenue down 3.3% to $136.9 million from the year ago figure of $141.6 million while GAAP net income was $2.3 million, compared to GAAP net income of $1.1 million in 2Q/11. With this, Revenue from the Telecommunication Services Division decreased $0.8 million by 1.0% to $70.7 million for…
The Network Branded Prepaid Card Association (NBPCA) will attend the Consumer Financial Protection Bureau’s field hearing on prepaid cards in Durham, N.C., May 23, 2012. As the nation’s leading voice on prepaid debit cards, NBPCA will provide research and information to consumers, stakeholders and lawmakers about how prepaid cards work and the valuable role they…