Other Breaking News
In today’s CardFlash News Que: NEW MEDIA (IncentEdge); ICMA (SCA); NFC FORUM (RTD); and SOPRA (award).
Pay With Drop & Kounta
Australia’s Kounta, a cloud based POS system with customers throughout Asia and the Pacific, Europe, South Africa and America, has inked a strategic partnership with US-based beaconized payments platform, Pay With Drop.
SuperCom + Prevision
Herzliyah, Israel-based Supercom is acquiring Prevision. SuperCom specializes in solutions for e-government, public safety and mobile payments.
FleetCor to Acquire Comdata
FleetCor Technologies fuel cards and workforce payment products has signed a definitive agreement to acquire Comdata from Ceridian for $3.45 billion. Concurrent with the closing of the acquisition, a representative from THL will be appointed to the FleetCor board of directors.Comdata provides fleet, virtual card, and gift card solutions to over 20,000 customers and has approximately 1,300 employees to facilitate over $54 billion in payments annually. Cash payments will be used to pay off Comdata’s outstanding indebtedness.
Asta Funding Acquires CBC Settlement Funding
Asta Funding, Inc. today announced the acquisition of an 80% ownership interest in CBC Settlement Funding, LLC (“CBC”) On December 31, 2013, the Company, through a subsidiary acquired 100% of the ownership of CBC and its affiliate, CBC Management Services, LLC, for approximately $5.9 million. At the closing, the operating principals of CBC, namely William J. Skyrm, Esq. and James Goodman, were issued a 20% interest in CBC (10% to Mr. Skyrm, and 10% to Mr. Goodman). William J. Skyrm, Esq. and James Goodman, have over 30 years combined experience in the structured settlement industry. CBC purchases periodic payments under a structured settlement and annuity from individuals in exchange for a lump sum payment. In addition, the Company, through another subsidiary has agreed to provide financing to CBC of up to $5 million.
Net Element International to Acquire Unified Payments
Net Element International, a technology-driven group specializing in electronic commerce and mobile payment processing, and Unified Payments, a leading provider of transaction processing services and payment-enabling technologies have entered a binding term sheet. With this, Net Element International will acquire Unified Payments and operate it through its newly formed subsidiary and holding company. This is expected to position and diversify Net Element International’s TOT Money business and expand its global presence in the payments market. Net Element International plans to aggressively begin deploying Unified Payments’ products and services in Russia and other emerging markets, while Unified Payments provides a strong foundation of recurring revenues in the U.S. The terms of the proposed acquisition are disclosed in Net Element International’s Form 8-K filed with the SEC.
C-SAM Deploys MasterCard mWallet Solution
C-SAM announced its joint initiative with MasterCard to offer a white label mobile wallet solution based on C-SAM’s flexible Mobile Transaction Platform (MTP) enabling seamless integration with MasterCard’s pre-paid platform, offers, PayPass Wallet Services and rich informational services. This integrated offering will provide an attractive, scalable and flexible mobile wallet solution to mobile operators, retail banks and payment providers in Asia Pacific, Middle East and Africa looking to launch a wide range of mobile contactless payment services blended with offers, coupons and rich value added services to their customers.
PayCube Promos Custom Payment Gateways
PayCube has helped various ISO’s and players in the acquiring space (Credit, Debit, ACH, Loyalty, Prepaid / Gift) do just that, help them take their destiny in their own hands. PayCube has become a one stop payment technology partner for its customers by providing onsite solutioning capabilities to offshore development capabilities. PayCube has vast experience in the payments technology space to take a vision from the whiteboard into production and to market.
PayCube with its Payment Gateway practice brings capabilities from design to complete build out of Payment Gateways, a first step in bringing transactions in house. From being able to use multiple processors for acquiring and settlement, to providing value added integration capabilities like your own virtual terminal and web POS system to integration to real time / location based loyalty, promotion, incentive, prepaid, wallet solutions to extending capabilities on payment devices, mobile & smart phones and tablet solutions (Apple – iOS, Google – Android) to EFT switching systems.
Euronet Pakistan Launches EMV Debit Card with MCB
Euronet Pakistan launched the EMV Debit Card in Pakistan with MCB electronic banking services. With this, Euronet Pakistan is the first EMV certified processor and gateway for EMV VISA debit services in the country. With the launch of the first EMV Debit Card in Pakistan, Euronet and MCB have introduced the most secure payment method available today into the Pakistani market. EMV Debit cards use an embedded microprocessor that stores, processes and protects card holder data, including identity and account information. Prior to the launch, MCB performed stringent testing to ensure Euronet’s service center, processing systems and operational procedures met global EMV security and regulatory standards.
Wassau and Clear2Pay launch payments hub
WAUSAU Financial Systems processing solutions provider and Clear2Pay payments modernization at the Association of Financial Professionals (AFP) Annual Conference announced their partnership to provide end-to-end receivables and payables technology for financial institutions and their business customers with the launch of an Integrated Payments and Receivables Hub. The partnership pairs Clear2Pay’s Open Payment Framework (OPF) and bank payments hub with WAUSAU’s integrated receivables hub, Receivable360™, to help financial institutions offer businesses the capability to manage their cash flow by streamlining current processes while providing a comprehensive view of all incoming and outgoing payments.
Expert Group Announces New Pre-Paid Credit Card
Mother of Pearl Card of Expert Group financial service and product company is embarking on the US and Latin America. The prepaid card is tapping a market which generated in 2008 $247.7 billion, a $27.8 billion increase over the $220.27 billion load in 2007. Expert financial plan shows an over $4 Million Dollar revenue company at the end of 2012 , over $30 Million by 2015, over $300 Million by 2020 and over $1 Billion in year 2025. This growth will be generated by focusing our product brands to targeted market segments, focusing on Joint ventures with our sister companies.
BankServ and BirchStreet Partner to Payment
Bankserv and BirchStreet announced they have entered into a strategic partnership to package remote check capture capability with BirchStreet’s award-winning procure-to-pay platform. Under the terms of the deal, BirchStreet clients will gain the option to use BankServ’s DepositNow online check deposit and receivables management system to speed and simplify payments related to the global procurement-to-pay process.
More than 100,000 businesses use BankServ’s receivables management solutions to get paid faster by scanning inbound check payments directly into their bank accounts. BirchStreet Systems brings deep procure-to-pay automation expertise and a network of over 160,000 suppliers in 35 countries. The company offers the only procure-to-pay platform specifically designed for the hospitality and food service sector, which automates over $2 billion a year in food and beverage (F&B), maintenance, repair and operations (MRO), and operating supplies and equipment (OS&E) transactions for thousands of hotels, clubs, restaurants and assisted living facilities.
“This partnership has the potential to revolutionize business-to-business payments in our industry,” said Doug Sanborn, president of BirchStreet Systems. “BankServ has the electronic payments expertise to serve the receivables management side of hundreds of thousands of businesses. BirchStreet has the know-how and technology to serve the procurement and payables side of thousands of companies, including many of the world’s largest hospitality organizations. Together, we can deliver unprecedented value on both sides.”
BirchStreet Systems is the choice procure-to-pay provider of many of the world’s largest hotel companies, including Hilton Worldwide, Hyatt Hotels, Marriott International, Inc., Omni Hotels & Resorts and Interstate Hotels & Resorts.
“We are tremendously excited to work with BirchStreet Systems,” said David Kvederis, CEO of BankServ. “Both buyers and suppliers want faster, easier payment processing — and by adding our receivables management tools to BirchStreet’s procurement and payables solutions, we can deliver end-to-end value in a totally synergistic way. We look forward to rounding out a comprehensive payments suite for an industry in which our companies’ respective specialties truly complement each other.”
About BankServ
BankServ is a leading provider of banking and payment technology for businesses and financial institutions. With its SaaS delivery model, BankServ offers world-class service bureau products for remote deposit capture, online and wireless payment acceptance, as well as Fedwire and SWIFT systems for banks. Founded in 1996, BankServ is a privately held company headquartered in Las Vegas, Nevada. More information on BankServ can be found at www.bankserv.com.
About BirchStreet Systems, Inc.
BirchStreet Systems, Inc., a recognized leader in hospitality technology, provides its web-based procure-to-pay platform, inventory control, recipe management and capital projects solution to restaurants chains, country clubs, assisted living facilities and some of the world’s largest hotel companies, including Hilton Worldwide, Hyatt Hotels, Marriott International, Inc., Omni Hotels and Interstate Hotels and Resorts. BirchStreet’s applications are delivered over the Internet, using the “Software-as-a-Service” (SaaS) model. Currently, thousands of businesses in over 35 countries utilize BirchStreet to access and manage more than 160,000 suppliers. Founded in 2002, BirchStreet is privately held and has offices in Newport Beach, Calif., New Delhi, India and Dallas, Texas. For more information on BirchStreet Systems, please visit www.BirchStreet.net or follow us on Twitter at Twitter.com/BirchStreetSys.