Montreal-based Mobeewave has secured Series A investment in a round led by SBT Venture Capital. This new strategic funding will fuel Mobeewave’s rapid growth and support new market openings worldwide, while fast tracking the roll out of its products roadmaps.
ACI confirmed its commitment to the continuing development of ReD Shield, its flagship eCommerce fraud prevention solution. The solution is central to ACI’s Universal Payments (UP) omni-payments offering for leading retailers that the company supports around the globe.
Citi Ventures has formed a partnership with Plug and Play Tech Center to expand Citi’s accelerator efforts in the U.S., Germany, Singapore, Brazil and Spain. This program will utilize Citi’s global lab network while building on its first FinTech accelerator, launched in Tel Aviv, Israel in 2013.
ATM owners and operators have been urged to begin planning for U.S. EMV chip migration as soon as possible to protect themselves from potential fraud losses. The EMV Migration Forum is a cross-industry body focused on supporting the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to help ensure a successful introduction of more secure EMV chip technology in the United States.
ACI Worldwide has completed the acquisition of Retail Decisions (ReD) fraud prevention solutions. ReD is a leading ecommerce and fraud prevention company serving the payments industry. Its suite of solutions helps customers drive up revenues while reducing fraud losses and increasing the efficiency of their fraud management teams. ACI now expects ReD will generate approximately $18 million in revenue and $4 million in adjusted EBITDA for the remainder of 2014. They also expect non-GAAP revenue of $254 to $264 million in the third quarter.
ACI Worldwide electronic payment and banking systems announced Pearl Harbor Federal Credit Union (PHFCU) selected ACI’s integrated online banking platform for credit unions, WebFederal, to power PHFCU Online, its online and mobile banking and bill payment services. PHFCU is one of Hawaii’s leading credit unions, serving thousands of members across the state. As its business has grown and its customers increasingly embrace online and mobile banking, the credit union recognized the need to provide a seamless, multi-channel experience that continued to deliver outstanding service while maximizing efficiencies. PHFCU selected ACI’s WebFederal online banking solution, which provides customers with a universal, real-time, omni-channel experience.
ACI Worldwide announced the availability of its EMV lifecycle management solution, ACI UP Token Manager, as a Software as a Service (SaaS) offering for US debit issuers. ACI is the first vendor to offer a SaaS-based EMV lifecycle management solution, which comes on the heels of the US debit industry recently banding together on EMV deployment decisions, particularly for debit issuers. A SaaS-based EMV lifecycle management solution will enable issuers to dynamically modify and configure parameters for customers, enabling differentiation in the marketplace. ACI’s flexible new solution offers rich business functionality, delivering peace of mind to issuers by providing the benefits of an in-house deployment for data preparation. Unlike typical outsourced offerings, this cost-effective solution provides considerable value added services, such as online access to card, chip and application data for customer support as well as the ability to provide card supplier independence.
ACI Worldwide unveiled the next generation of its consumer payments solution, enabling real-time, any-to-any payments. ACI is empowering financial institutions, retailers and billers to reduce payment processing costs, increase customer loyalty and drive new revenues by giving consumers more control over their money and the payment services they value. The company made the announcement at its Disruption in Payments events in New York and London. With the latest version of ACI’s market-leading consumer payments solution, UP BASE24-eps, as the enabling technology, real-time payments facilitate quick, secure, cost-effective and regulated transactions between consumers and retailers, financial institutions and billers. Industry experts believe that real-time payments will accelerate the global economy by eliminating billions of dollars in costs and generating billions of dollars in new revenues each year.
Fiserv financial services technology announced that Finger Lakes Federal Credit Union (Finger Lakes FCU) enhanced its digital banking and payment capabilities through the addition of multiple solutions from Fiserv. These include Corillian Online® and Mobiliti™ for online and mobile banking, AllData® PFM for personal financial management, and CheckFree® RXP® and Popmoney® for bill payment and person-to-person (P2P) payments. Finger Lakes FCU, which is seeing increased use of its electronic channels, is using the new technology to position the credit union to grow in a competitive market. By offering both Corillian Online and Mobiliti, Finger Lakes FCU delivers a convenient, consistent experience across the online and mobile channels.
ACI Worldwide announced strengthened support for UnionPay with the ACI Interchange. This opens up new markets for financial institutions and processors by enabling support for UnionPay transactions while extending infrastructure options to include IBM System p AIX. UnionPay has issued more than 3.5 billion cards worldwide and it is projected to continue its significant growth. UnionPay cards are accepted in more than 140 countries and its growth presents a significant opportunity for financial institutions and processors facing revenue pressures or wanting to extend their commercial offerings with a growing brand. ACI Interchange already supports incoming and outgoing clearing and settlement processes for transactions underpinned by EMV and magnetic stripe payment cards for the major international schemes; this has now been extended to include UnionPay.
GlobalPlatform announced its Board of Directors for fiscal year 2014*, following annual elections for six of the eleven Board seats. Individual members to serve as Board Officers for a one-year term have also been confirmed, as well as the appointment of a new Mobile Task Force Chair. Marc Kekicheff – Senior Business Leader of Chip Innovation at Visa Inc. retains his position as Chairman. Uwe Wittig – Group Vice-President within the Mobile Security Business Unit at Giesecke & Devrient continues as GlobalPlatform Vice-Chairman; and Yves Moulart – Director of Development and Innovation within STMicroelectronics’ Secure MCUs Division, Integrated Secure Solutions, is again confirmed as GlobalPlatform’s Secretary / Treasurer. First-year members to serve a two-year term include Yves Moulart, Simon Moore, Solutions Architect – ARM, Rémi de Fouchier, Vice-President, Marketing Communication – Gemalto, Arnaud du Chéné, Vice President, Head of Product Quality within Global Chip & Contactless Solutions – MasterCard Worldwide and Sebastian Hans, Senior Standardization Manager – Oracle. Additionally, Jon Geater, Chief Technology Officer at Trustonic was elected to serve a one-year term.
ACI Worldwide announced it has completed the acquisition of Official Payments Holdings, Inc., a leading provider of electronic bill payment solutions. Under the terms of the agreement, ACI Worldwide acquired Official Payments in an all-cash transaction for $8.35 per share. Official Payments currently has more than 3,000 customers representing access to over 100 million end users. The company processes approximately 20 million payments and over $9 billion in volume annually.