Ingenico has unveiled the first and only PCI PTS 4.0 and SRED-certified mobile card reader equipped to accept both EMV and magstripe card payments, as well as NFC/contactless payments. The new Ingenico RP450c can be attached to a mobile device via audio jack, or used as a separate Bluetooth companion or in docking station mode.
CardFlight which lets developers integrate in-person card payments into their own app raised $1.6 million in seed-round funding, led by ff Venture Capital, a New York-based venture capital firm that focuses on early-stage technology startups. While a number of payments startups are focused on online and e-commerce payments, CardFlight focuses on the 90% of credit card transactions that are ‘card present’ and happen in person. Additionally, CardFlight clients are typically vertical solution providers or large and medium-sized merchants, in contrast to companies that only provide closed mobile payment offerings that do not allow customization or white-labeling.
ROAM an Ingenico mcommerce platform announced that Cynergy Data payment services deployed its white-label solution to power its new Vwalaa! mPay offering. Cynergy Data leveraged ROAM’s core platform components – the G4X secure mobile card reader, the ROAMpay™ X4 application and the myROAM management portal – to launch the Vwalaa! Mobile Pay brand in less than four months. Because Cynergy Data is first to the U.S. market with the new version of ROAMpay X4, it is currently the only U.S. acquirer to offer game-changing features such as offline processing, configurable inventory management, previous purchase recognition and personalized receipts.
A new report has calculated that rewards payment cards accounted for 77% of credit card volume in 2005, compared to just 40% in 2001. The research found that credit card spend on rewards card is growing at a CAGR of 31%, compared to 12% for non-reward cards. The white paper by FischerJordan says that basic rewards offerings are becoming a market necessity; no longer a competitive advantage, but instead a commodity. The form says it is clear that program cost containment coupled with commoditization will spur a change in program substance and management. Reengineering will give way to a revision of traditional program economics, including a change in program structure and management. Coalition programs, white labeling, and association rewards will provide the models of industry externalization. The external result of these changes will be that the largest loyalty programs will emerge bigger, permeating multiple industries; while internally, program value will be unlocked, turning a cost center into a profit generating activity.