UniCredit’s pure digital “molecular” bank, buddybank, has inked a deal with MasterCard. Angelo D’Alessandro, founder of buddybank, says they have been working closely with MasterCard since starting to scan the cards space. Beginning January 2017, this new partnership will ensure buddybank Italian cardholders to access to MasterCard’s innovative technologies and smart solutions that will allow…
Springboard Retail announced The Pink Stores Lilly Pulitzer Signature Stores has launched mPOS as part of a major store transformation project. In The Pink’s eight stores are located in Massachusetts with flagship stores on Newbury Street in Boston and on Nantucket Island. They piloted the project in their Boston store where they removed the cash wrap and stationary POS terminals went 100% mobile. They are using Apple’s iPads and iPad minis powered by Springboard Retail. The results from the first 11 days of In The Pink’s rollout of mPOS reveal a 24.5% increase in sales over the same period in this store a year ago. Transaction count was up 6.5%, transaction value was up 17%, units per transaction was up 12% and total units sold was up 19%. In The Pink repurposed 48 square feet of floor space and reclaimed full floor to ceiling use of 6.5 feet of prime wall space. The Nantucket store is next to undergo the transformation.
PayPal launched its “Galactic” initiative that addresses the issues to help make universal space payments a reality. PayPal Galactic brings together leaders in the scientific community, including the SETI Institute and Space Tourism Society, to prepare and support the future of space commerce. It will take place June 27 at the SETI Institute in Mountain View, California. Spearheaded by PayPal, working with the SETI Institute, the initiative aims to bring together leaders in the space industry to work on the big questions around the commercialization of space. Questions include what will our standard currency look like in a truly cash-free interplanetary society? How will the banking systems have to adapt? How will risk and fraud management systems need to evolve? And what regulations will we have to conform with?
Teridian Semiconductor Corporation has approved the new Model PT79546 V.22bis Modem Transformer from Datatronic Distribution for use with its reference designs that include the Teridian IC Models 73M901CE and 73M1903. The new PT79546 is a drop-in device developed to support Teridian IC reference designs including 73M2901CE and 73M1903. The Teridian 73M2901CE is a single chip low speed modem that supports basic modem functionality. The integrated data pump (supporting modulations up to ITU-TV.22 bis), controller and analog front end (AFE) are designed specifically for cost sensitive embedded applications, including satellite set-top boxes, point-of-sale terminals and automatic teller machines.The Teridian 73M1903 is a single-chip analog front end (AFE) device used in embedded soft modem and voice applications including high speed data modems, satellite set-top-boxes, POS terminals, MFP and Fax terminals and IP phones. It offers multiple features designed to reduce the external component count and delivers robust performance with a low cost transformer DAA.
British credit card issuers have agreed to give their troubled cardholders “breathing space” to establish a debt repayment plan with a debt advice agency. Customers will have a minimum of 30 days to set-up a repayment plan, during which time the credit card issuer will suspend collection activity. If discussions remain ongoing after 30 days, there is an option of extending this by an extra 30 days. Card issuers have also agreed to increase transparency for risk-based repricing. Under the new practice customers will be notified when their interest rate is being changed as a result of risk-based repricing, and if their interest rate goes up they will be given sufficient time to close their account or be offered an alternative product. Credit card issuers have also agreed that they will not increase the interest rate on a card on the basis of risk during its first twelve months, or more often than six monthly thereafter. APACS says the two changes will likely be built into “The Banking Code.”
Credit card issuers have agreed to give their troubled cardholders “breathing space” to establish a debt repayment plan with a debt advice agency. Customers will have a minimum of 30 days to set-up a repayment plan, during which time the credit card issuer will suspend collection activity. If discussions remain ongoing after 30 days, there is an option of extending this by an extra 30 days. Card issuers have also agreed to increase transparency for risk-based repricing. Under the new practice customers will be notified when their interest rate is being changed as a result of risk-based repricing, and if their interest rate goes up they will be given sufficient time to close their account or be offered an alternative product. Credit card issuers have also agreed that they will not increase the interest rate on a card on the basis of risk during its first twelve months, or more often than six monthly thereafter. APACS says the two changes will likely be built into “The Banking Code.”
e-commerce provider GiftCertificates.com has tapped Gary Krow,
previously with Comdata, to serve as CEO. As president of Comdata from
1999 to 2007, Krow led the transformation
of the company from a diesel fuel transactions processing company to a
full service electronic payment processing company specializing in
credit, debit and stored value. Krow’s tenure there was characterized by
numerous significant accomplishments. He greatly increased Comdata’s
market capitalization, accelerated its growth rate, and increased
revenues and operating margins. GiftCertificates.com offers an extensive
product
portfolio including the SuperCertificate Reward which is redeemable for
hundreds of original merchant gift cards. GiftCertificates.com also
features a variety of Specialty SuperCertificate , Merchant, MasterCard
and American Express -branded Gift and Reward Cards.
GlobalPlatform has released its “Confidential Card Content Management
Amendment” for secure application management. This solution has been
designed for application providers of mobile networks to establish
neutral infrastructure. This infrastructure will allow application
providers to manage applets Over-The-Air (OTA) on an end-user’s SIM,
namely for mobile telecom implementations with transit, entertainment or
financial applications such as e-tickets, video and payments. There are
currently 195 million GlobalPlatform smart cards in circulation around
the world.
CO-based SkyeTek and TX-based Isochron have enabled RFID-based cashless payment at vending machines located throughout the Hartsfield-Jackson Atlanta International Airport. In October, Isochron selected SkyeTek’s “M2” contactless payment module as the embedded RFID reader to enable secure, cashless payment at vending machines. Consumers can now use RFID-enabled credit and debit cards issued by financial institutions such as Bank of America, Citizens Bank, Charter One, Chase and Key Bank to make their purchases. Isochron is a provider of machine-to-machine (M2M) solutions for the vending industry. SkyeTek develops reader technology that enables the adoption of RFID as an embedded feature in existing products.
SmartPay Jieyin has completed a strategic round of equity financing with RRE Ventures. Under the terms of the financing, RRE will take a minority equity stake in SmartPay. Additionally, current SmartPay shareholders, including Accel Partners, Icon Ventures Asia, Lunar Group and others, have exercised rights to invest additional capital in the Company. Smartpay operates a mobile payments service in China,
allowing consumers to purchase pre-paid credits, pay utility bills, transfer credit and make purchases where the use of the mobile phone as a payment terminal provides compelling convenience or is a unique necessity.
SmartPay Jieyin announced that RRE Ventures has taken a minority equity stake in its Chinese mobile payments system. Additionally, current SmartPay shareholders, including Accel Partners, Icon Ventures Asia, Lunar Group and others, have exercised rights to invest additional capital in the Company. New York based RRE Ventures invests in entrepreneurial technology companies placing special emphasis on e-commerce, software, communications and related enterprises with $600 million under management. Smartpay operates a mobile payments service in China.
MA-based NTRU has released “NTRU Neo for Java,” the first security system designed for all wireless Java devices and applications. NTRU Neo for Java allows developers to: Build secure applications that run on all wireless devices, even low cost mass-market phones; Substantially increase the speed and responsiveness of Java applications, making them more compelling to users; Increase speed and reduce bandwidth consumption for code downloads. The major handset manufacturers have announced plans to include Java in every wireless phone; NTRU’s security enables development and deployment of secured wireless applications and services for the hundreds of millions of Java- equipped handsets that will ship in the next two years.