Barry McCarthy
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Barry McCarthy, President of First Data’s U.S. Financial Services.
Wells Fargo takes commercial card portfolio to Europe
Responding to the needs of its growing multinational customer base, Wells Fargo & Company (WFC) announced it has expanded its commercial card portfolio to Europe by offering the European Commercial Card, where commercial card transactions in pound sterling or euros will now be easier to process, track, and report. Supported by MasterCard, one of Wells Fargo’s longtime credit card partners in the United States, the Wells Fargo European Commercial Card can be used in 37 million outlets worldwide. The European Commercial Card solution balances enhanced controls and local, regional, and global management oversight with international traveler convenience through a global card expense reporting tool via Wells Fargo’s Commercial Electronic Office® (CEO®) portal. This tool permits company financial officers and their employees the ability to monitor commercial card transactions, such as travel expenditures (e.g. airfare, hotel, rail), use data for local, regional or global strategic sourcing opportunities, and maintain visibility over expenses.
Wells Fargo to Service Dillard’s Privatel Label Cards
Wells Fargo & Company and Dillard’s, Inc. announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s. The program agreement has a 10-year term and is anticipated to become operational in the fourth quarter of 2014, following the scheduled expiration of Dillard’s current program agreement. Financial terms of the agreement were not disclosed. Dillard’s management believes its earnings from the new program exclusive of startup costs will be comparable to its historical earnings from the Dillard’s branded credit card products and believes that earnings will increase with future program growth.
Wells Fargo Visa Joins Isis Mobile Wallet
Wells Fargo & Company and Isis®, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA, Inc. and Verizon Wireless, announced the first phase of an agreement that allows Wells Fargo Visa consumer credit card holders to load their cards into the Isis Mobile Wallet®. This launch enables cardholders to securely pay, redeem coupons and present loyalty credentials, all with the tap of their phone. Customers with one of the more than 50 Isis Ready® smartphones available from AT&T, T-Mobile or Verizon Wireless can receive an enhanced SIM card from their wireless carrier and download the Isis Mobile Wallet for free from Google Play.
clearXchange Announces Latest Network Member
clearXchange P2P payments network in the U.S. created by and for financial institutions announced its latest member, FirstBank. FirstBank customers will now be able to send payments from their existing FirstBank account safely and conveniently using only the recipient’s mobile number or e-mail address and without providing sensitive account information. With FirstBank, clearXchange continues its network expansion and drive to ubiquity, delivering value to customers of banks of any sizes. Nationwide, clearXchange banks represent more than 50 percent of the consumer online banking market. The clearXchange solution allows P2P payments directly from consumers’ existing deposit accounts through their bank’s convenient, secure online and mobile sites. There is no need to open a new account or conduct financial transactions away from their bank’s trusted site. When getting paid, funds are directly deposited into the consumer’s bank account. And customers get all the services and protections that they get today from their banks.
Wells Fargo Customers Save on ATM Receipts
Wells Fargo announced Wells Fargo customers completed more than one billion paperless transactions at its ATMs since 2009 and now have the option to conclude a transaction without an ATM receipt or to select a receipt to be sent to an Online Banking inbox, a designated personal e-mail account, or a mobile phone number. Customers have avoided using more than 300 million feet of receipt paper which could circle the earth’s circumference more than two times – approximately 63,000 miles. To increase the choices available to customers and further reduce paper waste, a text receipt option was offered to customers at Wells Fargo ATMs nationwide in June 2013. Wells Fargo was the first bank to offer email and text receipt options to its customers.
Wells Fargo Waives Remittance Transfer Fees to Flood Victims
Wells Fargo & Company is temporarily waiving all remittance transfer fees for ExpressSend® transfers from a linked checking or savings account for customers sending money using the ExpressSend service to friends and family impacted by the floods in the Philippines. The fee waiver is effective August 26, through September 15, 2013. The ExpressSend service allows your beneficiary to receive funds at over 6,400 locations in the Philippines, including all offices of BPI, BDO Unibank, M. Lhuillier, Metrobank and Cebuana Lhuillier.
Wells Fargo & Amex Ink Credit Card Issuing Partnership
Wells Fargo (WFC) and American Express (AXP) partnered, by which Wells Fargo will issue new credit cards accepted on the American Express network. Wells Fargo will make the cards available in the marketplace nationwide by mid-2014. As part of the card-issuing partnership, American Express is providing its Partner Advantage capabilities and services to support Wells Fargo in developing a suite of products that will offer a superior set of experiences, exclusive benefits and customized offers from the American Express network, both online and offline. Separately, LoyaltyEdge from American Express will assist in the design of a new Wells Fargo loyalty program by offering a broad range of merchandise and gift cards that Wells Fargo’s consumer credit customers will be able to redeem with their points.
Wells Fargo Appoints VP, Commercial Banking in Chicago
Wells Fargo Commercial Banking, a part of Wells Fargo & Company, hired Keith Plummer VP & relationship manager to focus on building and serving middle market commercial customers in Chicago. Plummer brings more than 11 years of commercial banking in Chicago to Wells Fargo. He had worked at JPMorgan Chase since 2004 in several commercial banking roles, and most recently served as a credit and risk officer for this market. He also served as a relationship manager from 2004-2010. Before that, Plummer worked for LaSalle Bank in Chicago and for American National Bank. Plummer earned his bachelor’s degree in business administration (finance) from Western Michigan University and his MBA from Wyzsza Szkola Biznesu-National Louis University in Nowy Sacz, Poland.
Wells Fargo Insurance Names Managing Director
Wells Fargo Insurance named David Robertson managing director for its Atlanta office to lead business development, client service and sales, and cross-sell strategy for the company’s insurance operations. Named a 2012 Power Broker by Risk and Insurance magazine, Robertson was most recently senior VP/head of William Gallagher Associates’ (WGA). A former regional partner at Willis Group Holdings, and senior VP at Marsh, a subsidiary of Marsh & McLennan Companies. Prior to joining the insurance industry, Robertson was a corporate banking officer at Citizens & Southern National bank, and worked for First Atlanta, a predecessor of Wells Fargo. Robertson has a bachelor’s degree in business from the University of Georgia, received his MBA from Georgia State University, and a master’s in Health Policy and Management from Emory University.
Wells Fargo Intros Redesigned ATM Interface & Features
Wells Fargo redesigned its ATMs with a layout featuring ease of use and a modern design. With the upgrades now available on more than 500 machines across several states, the new interface will launch at all the more than 12,000 Wells Fargo ATMs by May. A “Balance Dashboard” features balances at-a-glance, if the customer chooses, for their most used accounts while the ATM “Cash Tracker” tool helps customers manage their finances and automatically appears on the main ATM screen. This feature allows customers to visually track their monthly Wells Fargo ATM withdrawals. Customers can also set a monthly withdrawal target and can view details about how much they withdrew the prior month and their average over the past 12 months.
Wells Fargo Offers Consumer Remittances with Fee Waiver
Wells Fargo & Company is celebrating the 10 year anniversary of its Global Remittance Services unit by offering new Wells Fargo ExpressSend customers a fee waiver on their first transfer if they enroll in the service and make their first transfer from a Wells Fargo linked account between February 1 and June 30, 2013. Wells Fargo offers remittance services to 14 countries, to which it remains committed, despite pending regulations that are causing some large banking institutions and traditional remittance companies to exit the business or reevaluate their strategy. Wells Fargo ExpressSend customers can send funds to their beneficiaries in most countries through their choice of four remittance alternatives- account to account, account to cash, cash to cash, or cash to account.