ERN has announced the appointment of Roger Alexander, the former President of Elavon Merchant Services Europe and Brian Thom, the former President of Citibank Japan, to its board of advisors. Alexander brings to the role vast experience of the financial services industry, currently holding non-executive directorships at foreign exchange platform Canton FX, payment and loyalty consultancy The Logic Group and secure payment solution provider Pensio. He’s a graduate from Harvard Business School and spent over a decade at Barclays as Managing Director of The Emerging Markets Group as well as a Director at Barclaycard, also Roger was the former CEO of EuroConex and the former CEO of Switch UK. Meanwhile, Thom spent more than seven years at Citibank, where he served as President of Citibank Japan and Country Head of Citibank Korea. He is currently a Director at CSC Pacific and DPSL Limited, Executive Director at Asia CEO Network and a Partner at business solution and support service provider Gravitas Partnership. He is also the former Global Head of Marketing For American Express and the former SVP of Marketing for MasterCard.
Monitise technology and services company delivering mobile banking, payments and commerce networks worldwide, announces a trading update ahead of the announcement on 4 September 2012 of its financial results for the year ended 30 June 2012. As Monitise continues to enhance its reputation for delivering bank grade secure services for its customers, be it mobile banking, mobile payments or mobile commerce, the opportunities to enhance shareholder value continue to grow. The Company has invested significantly in its Monitise Enterprise Platform and technology over the past few years and is also delighted to have completed four major customer launches during June and July. The Company has a strong pipeline of future deployments. The Company is pleased to bring forward EBITDA breakeven guidance by a full quarter to September 2013. Revenue in the year grew by approximately 140% from £15m to £36m and thom £15m to £36m and the EBITDA loss reduced from £12m to £10m.
BAMpay has made available its secure, phone based payment solution at two Dallas-area restaurants, allowing the merchant clients to accept payments directly from customers using their iPhone without requiring any type of payment card. This design is meant to reduce the payment processing fees that merchants are currently paying. Merchants can also set up reward and marketing programs to increase foot traffic and customer retention at their stores while customer users can earn rewards on future visits to restaurants and retailers using the BAMpay system. The phone-based payment system is now available to restaurants and retailers nationwide.
A new survey has found more consumers upbeat about the economy compared to this time last year due to lower gas prices and moderating food prices. However, given the length of the “Great Recession” Americans are still very much in the strategic spending mode. The survey from Information Resources found 23% of shoppers have a gift-giving budget over $799, down 13% from 2008 and 11% more plan on budgeting up to $499 this year for gifts than in 2008. More than 94% plan on spending no more than $500 on food and 90% plan on spending no more than $200 on holiday beer, wine, and spirits purchases. Also, 92% of consumers will be doing their holiday food shopping at the grocery store based on sales and discounts, product selection, and variety of items in stock. Additionally, there will be an 18% increase in online shopping from 2008, when only 41% of consumers shopped online. Finally, the overall effect of the recession on shopping decisions decreased nearly 5%.
CA-based Epicor Software’s “Retail Software as a Service” hosted solution has been awarded compliance
status by Visa with the PCI-DSS version 1.1. “Epicor Retail SaaS” is an all-inclusive offering developed, implemented
and delivered directly to stores and head
office via high-speed persistent networks. The solutions included in
Epicorâs Saas offering give retailers the same advanced functionality as
best-of-breed systems used by the worldâs leading retailers, in a format
that dramatically reduces capital investment and implementation
requirements. Epicor offers software, hardware, services, and support which enables the SaaS to minimize in-house
resource requirements and overall total cost of ownership.
Customers and prospects can now find Epicor on the VISA Global List of PCI DSS Validated Service Providers.
IL-based ISU Credit Union has moved its card processing to TNB Card
TNB will work with ISU to restructure its $2 million card portfolio to
position it for growth in balances and cardholders. ISU said the primary
reasons it moved its card operations to TNB were TNBâs 24/7 call center,
the “Rewards2U”loyalty program, card management tools, such as “VIP
CardStation” and “Portfolio Pro” , and TNBâs marketing expertise and
capabilities. ISU Credit Union holds $73 million in assets.
Cross platform security provider Application Security has released the
results of the “Database Security Controls” survey which reveal that 54%
of respondents feel that a lack of internal processes
and controls hinder the effectiveness of their database security
efforts” and that 73% predict that database attacks will increase.
Other findings include 84% who feel their organization maintain a false
sense of security that their organizationâs data security controls for
sensitive information was adequate, but follow-up security questions
made it clear that there is a disconnect between the initial responses
and realities of preventing hacks and supporting compliance mandates and
in addition to the high number of reported data breaches during the past
year, organizations failed audits in key categories more than one-third
of the time.
Market researcher Information Resources have released a new survey
âRethinking Retail: Holiday Shopper Insights and Recommendationsâ that
indicates shoppers will open their wallets this holiday season due to
the increased importance of holiday rituals as they take comfort with
friends and family and noted that they plan to make better use of
merchandising and promotions to maintain appearances. Among the
principal findings of IRIâs new survey: 94% state spending time with
family is more important than last year; 80% plan a greater emphasis on
holiday meals and entertaining over last year; 74% state they plan to
give the same number or more gifts; 65% will focus more on religious
celebrations and 63% plan to buy as many or more expensive gifts
However, Roughly 74% of shoppers will take more advantage of in-store
promotions this year over last year, demonstrating shoppersâ desire to
preserve rituals but their attempt to do so more affordably, with 56%
planning to take advantage of sales or promotions seen on TV or heard on
the radio, 53% will use coupons in newspapers more and 43% will seek out
more â2 for 1â and similar promotions.
The Swedish Motorcycle Club(SMC) has collaborated with Nordea
Bank to launch a customizable credit card. Using Serverside customizable
technology, the cardholder can use any image they choose for a fee of
295 SEK per year and an additional 100 SEK each time they choose to
change the design. Card customization benefits card issuers by increasing
customer loyalty, acquisition rates and increased spending.
Serverside’s flagship product, “/AllAboutMe/”, is a web-based
application that allows cardholders to design their unique payment
card online. The corporation also has alliance with both DataCard and
VeriFone Holdings and POS partner MICROS Systems have added Savannah-based Carey Hilliard’s to its roster of restaurants using the “ON THE SPOT” payment solution. ON THE SPOT integrated solutions include a small handheld payment system that provides for credit and debit card acceptance at the point of service and is designed to cut down on credit card fraud and also allow restaurant operators to take advantage of lower-cost PIN debit payment. By allowing patrons to slide their own cards rather than handing them over to another person, “ON THE SPOT” helps cut down on “skimming,” an increasingly common practice in which a restaurant employee swipes the card through a special device that records its owner’s account information, which can then be used in identity theft. The payment system also uses special encryption and other security features to protect all financial data transacted over a restaurant’s Wi-Fi network. VeriFone Holdings provides secure electronic payment solutions.
MasterCard’s Chief Risk Officer, Chris Thom, will retire from the company in October and a successor will be announced shortly. As Chief Risk Officer, Thom has overseen the Risk Management Group’s enterprise-wide risk management practices. Under his leadership, the group has been effective in reducing and preventing fraudulent use of MasterCard products, as well as expanding and enforcing compliance activities. Thom also chaired the MasterCard International Operations Committee and International Security Committee.
MasterCard has teamed with the Fraternal Order of Police to beef-up data security throughout the payment system and help merchants keep cardholder data safe and secure. MasterCard is hosting a series of “Security Seminars” via the FOP in key cities nationwide. The first seminar is scheduled for today in Dallas. MasterCard will provide “Fraud Prevention Kits” to all “Security Seminar” attendees. MasterCard is also hosting a multipart, online Webinar series to complement the in-person seminars. The series begins with “Protecting Cardholder Data with the PCI Data Security Standard” on Wednesday, June 14th.