Chicago-based Lyons Consulting Group (LYONSCG) has become a systems integration partner of Riskified, a venture-backed eCommerce fraud prevention solution provider. Riskified enables online merchants to accept credit card transactions they would otherwise decline, as it covers all approved orders with a 100% chargeback guarantee in case of fraud.
Visa and NetHope, a consortium of more than 40 humanitarian organizations, announced the five recipients of the Visa Innovation Grants Program. The grants will help leading development organizations modernize the distribution of payments related to microfinance, agriculture, health, and emergency relief. Every year, billions of dollars in cash payments are distributed to people in need through emergency relief efforts, benefit stipends, conditional cash transfers, microfinance programs, and other development initiatives. Digitizing these payments, through mobile phones or other electronic methods, not only improves security and speeds distribution, it also can promote financial inclusion by providing recipients access to broader financial services, including savings and electronic payments tools. Through the Visa Innovation Grants Program, Visa is awarding $500,000 in grants to increase the long-term impact of development programs through the innovation and adoption of electronic payments.
Accenture launched its Accelerated R&D Services, a business service focused on delivering streamlined and integrated research and development (R&D) functions that will help pharmaceutical companies bring new medications to patients using a more collaborative and efficient approach. Accenture is investing more than $200 million to deliver this fully-integrated, technology-enabled global business service that will drive more efficient and effective development of pharmaceutical products for clients. Accelerated R&D Services will leverage capabilities of the cloud, mobility and analytics to deliver integrated functions across clinical development, regulatory submissions, pharmacovigilance and market launch predicated on delivering better patient outcomes. Accelerated R&D Services helps life sciences companies bring drugs to market faster, at less cost and with reduced execution risks using a pay-for-performance business model for business process outsourcing.
Jason Brooks, Managing Director, UK, of Cardlytics, the pioneer of Transaction-Driven Marketing™, is part of a select group of presenters at this week’s BayPay Europe Event: “The US meets Europe on Emerging Commerce Technologies,” held June 21 at the Agence Regionale de Developpement Paris Ile de France. The event is hosted by the BayPay Forum, an association of payment professionals at the forefront of new trends and disruptive innovations in the global payments industry. Brooks is participating in the 10:30 AM – 12:00 PM presentation, “Promising US Payments & Commerce Companies,” and will be presenting alongside executives representing Device Fidelity, CyberSource, National Security and QSecure.
Vesdia Corporation merchant network has responded to last week’s Federal Reserve proposal to reduce the debit interchange to $.12 from a weighted average of $.72. This equats to an 83% reduction in fee revenue, subsequently reminding banks of the value a merchant-funded rewards network brings to the table. With this, Vesdia is seeking to limit the amount of money that stores and other merchants are charged each time a customer pays for a transaction with a debit card. A rewards network can help card issuers recapture the expected lost revenue while providing value-added services to their cardholders. In doing so, Vesdia’s partnership marketing network taps into the trusted relationship between the banks and its customers, utilizing the banks’ frequent touch points to conduct one-to-one marketing, driving cardholders to participating merchants to earn additional rewards when using their debit card. Card issuers gain additional revenue from the increased card acquisition, activation and usage generated by the merchant-funded rewards and additional redemptions. Vesdia’s full service multi-channel marketing campaigns and support for customer targeting and segmentation, in partnership with the leading merchant brands, allows banks to drive customer behavior with meaningful offers with expanded marketing reach; coupon programs; direct email; and loyalty program website personalization.
Ravi Balwada has joined Dorado Corporation collaborative financial cloud computing architecture as senior VP of worldwide software-as-a-service operations. He will oversee Doradoâs cloud computing-based LOS service offering and an increasing number of complex third party integrations. Balwada brings nearly two decades’ technology management experience to Dorado and most recently served as CIO and VP of On Demand Operations at SumTotal Systems to set strategic direction for the managed services and SaaS related initiatives. Ravi also managed global operations for Oracle On Demand, overseeing the commercial development and transformation of On Demand operations into an adaptive, scalable and highly optimized operating platform, serving enterprise applications on-demand and as a service. He holds a bachelor of engineering degree from Birla Institute of Technology.
Upromise has chosen Vesdia Corporation multi-channel merchant network
and shopping incentive services as its new preferred provider of
brick-and-mortar and catalog merchant services. For Upromise, a free
online service that helps its members earn money for college, Vesdia
will be providing more ways to save through its consistently expanding
network of national, regional and local brick-and-mortar merchants. The
partnership will also offer Upromise members ways to earn money for
their college savings or pay down eligible student loans when shopping
at various retailers. Members automatically earn by using their Upromise
credit card or other registered payments cards at; 1 800 FLOWERS;
Ballard Designs; Gaiam; Golfsmith; Hammacher Schlemmer; Hearthsong; Jos.
A. Bank; Lobster Gram; Magic Cabin Dolls; Plow and Hearth; Sally Beauty;
and Sunglass Hut.
For the 4th consecutive year, Arise Virtual Solutions home-based
business process outsourcing (BPO) services has met the universal
Payment Card Industry (PCI) compliance Data Security Standards (DSS) as
a Level 1 Service Provider. Assessed by VeriSign third-party Internet
infrastructure services provider and confirmed by Visa as a validated
PCI DSS provider, Arise offers users individual âsecure virtual
workstationsâ for the ability to control home-based agent computers
through its portal. PCI DSS universal technical and operational
requirements help card payment processors prevent security
vulnerabilities and threats while the FL-based Arise Virtual Solutions
certifies independent professionals on the at-home model.
American Express “OPEN” and “SCORE” announced the 2009 schedule for the “Small Business Speed Coaching Test Drive.” The multi-city tour is designed to help small business owners develop strategies to weather the current economic downturn and provide them with educational and mentorship programs to help identify new opportunities for business growth. Originally launched in 2007, the “Small Business Speed Coaching” series offers small business owners exclusive, 30-minute, one-on-one evaluation sessions with experienced business mentors from “SCORE.”
In addition to meeting with a “SCORE” mentor at the event, attendees will learn about local “SCORE” resources and they can continue mentoring sessions in the future. Registration is free and available on a first-come, first-serve basis.
Loyalty marketer Vesdia Corporation has been chosen by SunTrust Banks to help
enhance the bankâs debit and credit card loyalty programs through
Vesdiaâs merchant network and partnership marketing services.
The enhanced SunTrust rewards program will provide cardholders with
additional rewards-earning opportunities with thousands of leading
national and local retailers. In addition to earning SunPoints on
transactions, cardholders will be able to take advantage of bonus
SunPoints, discounts and special offer opportunities with more than
150,000 brick and mortar locations, service providers, catalogs and gift
cards, and more than 750 online retailers. The partnership also offers merchants unique marketing benefits. Through
targeted promotions to SunTrust cardholders and more than 30 million
consumers in Vesdia managed loyalty programs, participating merchants
gain access to new customers while driving increased basket size and
repeat purchases from existing customers. SunTrust had total assets of $177.4 billion and total deposits of $119.8
billion as of June 30, 2008.
A new study shows that “Best-in-Class’ loyalty offerings both increase revenues and create optimal customer buying behavior. Vesdia and Aberdeen jointly conducted research on creating customer loyalty in retail, the findings of which have been disclosed in the report “Responsive Customer Loyalty: Creating Customer Commitment in Retail.” The report highlights the use of loyalty offerings to increase revenues and create optimal customer buying behavior with findings demonstrating retailers report average year-over-year same store sales increase of 7.4%, retailers report improved repeat customer orders by an average of 21.8% and retailers without a loyalty program have poor sales/customer retention compared with retailers that operate a loyalty program. Providing merchant-funded reward programs, Vesdia brings together more than 30 million consumers in multiple loyalty programs with a network of over 750 participating online retailers, more than 60 national brick-and-mortar brands and thousands of regional merchants.
AZ-based Shop.org/Forrester research projects online retail sales to grow by 17% to $204 billion for 2008, despite economic conditions. According to 125 different retailers, online sales for apparel is expected to reach $26.6 billion, computer sales will reach around $23.9 billion and auto sales are expected to reach $19.3 billion, the three categories to net the most revenue for the year. Given these findings, retailers are expected to allocate 53% of marketing budgets to online customer acquisition while 21% of the budget will fund online customer retention. Additionally, 65% of online retailers intend to focus fund allocation to social network advertisements and 55% of retailers will increase focus on widget advertising. Shop.org is digital membership retail community with 700 members while Forrester Research, Inc. is an independent technology and market research company.