According to new research 60% of Americans created or used an online account with a retailer in the last 12 months, which suggests convenience ranks top-of-mind for U.S. shoppers. In fact, 47% said they create online accounts because it is quicker and easier to shop.
American Express has redesigned its U.S. Amex Mobile app for iPhone and Android. Available for Personal, Small Business and Corporate Card Members, the redesigned app includes the convenience of Touch ID login, nearby offers on a map, rewards information and unique mobile service features like on-the-spot fraud alert verification.
The clock is ticking for the U.S. EMV migration deadline, but new research shows more than 50% of retailers not fully prepared as EMV deadlines approach.
Stockholm-based Klarna has formed plans to invest at least $100 million in its U.S. expansion, and the establishment of operations in Columbus, Ohio. Klarna Checkout enables consumers to buy online by entering only top-of-mind information like an email address and zip code.
When asked to select all the payment methods they will use this holiday season, credit cards emerged as “King”, not cash. Cash took second place and was preferred two-to-one over checks, debit cards, mobile payments or other means of payment.
Swedish e-commerce company Klarna wants to enter the U.S. market next year. Klarna Group has more than 1,100 employees and is active in 15 markets, serving 25 million consumers and working with 45,000 retailers.
Affirm announced the commercial release of its new Split Pay service that lets online merchants offer the power of installment payments to their consumers at the point of sale. Using Split Pay, online shoppers can make a purchase and pay across multiple months with simple, clear financing fees a fraction of credit card interest rates. With Affirm there is zero risk for the eTailer. Affirm pays its merchants in full at the time of settlement and their customers enjoy payments stretched out in monthly installments. Split Pay is consumer-friendly by providing clear terms and a fixed set of payments.
A global fraud study of more than 6,100 consumers across 20 countries revealed that one in four consumers is a victim of card fraud in the last five years. The consumer survey found the U.A.E. has the highest rate of fraud overall at 44% and Sweden has the lowest at 10%. The study, conducted by ACI Worldwide and Aite Group, also highlighted that 23% of consumers changed financial institutions due to dissatisfaction after experiencing fraud.
Jack Henry & Associates technology solutions and payment processing services primarily for the financial services industry has expanded its relationship with IT-Lifeline which enabled the addition of Centurion Enterprise-Level Recovery to its suite of disaster preparedness and recovery solutions. Centurion Enterprise-Level Recovery is an enterprise-wide data protection and recovery solution for Windows servers and their resident data. This cost-effective, secure data vaulting service supports Windows-based core systems, complementary banking solutions, and ancillary business systems such as email and office document platforms. The disk-based data protection and recovery services enable financial institutions to enhance their business continuity planning and testing, and expedite disaster response with immediate data access and recovery and local data restores. Centurion Enterprise-Level Recovery provides offsite data storage, eliminates the time and cost associated with tape-based recovery, provides workstation access from any location with an Internet connection, and is compliant with the FFIEC requirements for progressive and periodic testing of business continuity and disaster recovery capabilities.
AnywhereCommerce released its Walker Chip and Signature mobile payment solution at the 2013 ETA Annual Meeting & Expo. Walker is a compact and rugged payment acceptance device that is compatible with most mobile smartphones and tablets, which enables mobile payment acceptance that is compliant with EMV rules for Chip and Signature as well as legacy magnetic stripe use. The Walker device enables merchants to accept EMV-compliant Chip and Signature payments while still continuing to support magnetic stripe payments. Walker employs patented audio jack connectivity and encryption technology to ensure secure and reliable operation in mobile POS application and can be integrated with a variety of third-party mobile payment apps.
FIS’ “People Pay” solution, offering real-time P2P payments through its own “PayNet” real-time payments network, is now available through a single platform provided by their financial institution. It allows banks to offer a trusted payment services to their customers and drive increased P2P adoption. Beyond traditional P2P models, the next horizon for today’s digitally demanding, fast-moving consumer is paying any person, company or institution in real time – quickly, easily and securely. Users can now send payments directly to a recipient’s e-mail address or mobile phone number while utilizing the institution’s secure online banking Web site. The standalone P2P solution will also be integrated with FIS channel products and core solutions.
Fiserv announced that Chicago-based Oak Bank has implemented its “Premier” bank platform and outsourced processing services. Oak Bank is also implementing Fiserv’s CheckFree® RXP® and CheckFree® Small Business for bill payment, Mobiliti™ for mobile banking, Business Online™ and Retail Online™ for online banking, Branch Source Capture™ and Merchant Source Capture™ for check capture, Business Process Manager for new account and process management, Fiserv® Clearing Network for image exchange and solutions for debit card processing. Mobiliti will give the bank robust mobile banking and payments functionality across a range of devices and networks. Retail Online and Business Online will provide the bank’s consumer and corporate customers with real-time account information, financial management tools and anytime, anywhere online banking.