Australia’s Lending Works is now offering higher standards in ID fraud protection, while streamlining onboarding and improving operating efficiency. AU10TIX BOS is the first and only 2nd generation ID authentication and record generation technology on the market today.
China UnionPay and Global Payments are climbing into bed. The two sides reviewed the progress of cooperation in the past few years and reached consensus on further expanding UnionPay cards acceptance worldwide and accelerating cooperation in innovative business.
Top Image Systems and BPM (Business Process Management) solutions and MIP (Mobile Imaging Platform) provider, announced a long-term transaction-based deal with Allied Payment Network to implement MobiPAY, TIS’ self-service mobile bill payment application, within PicturePay, Allied’s mobile photo bill pay solution. TIS will work with Allied, its customers and partners to enhance their user experience and continue to automate the bill payment workflow with our advanced MobiFLOW platform for end-to-end processing of bills and related documents.
Gemalto has signed a definitive agreement to acquire 100% of the share capital of SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.SafeNet technology protects over 80% of world’s intra-bank fund transfers and its 1,500+ employees, including 550 cryptographic engineers, serve more than 25,000 customers, both corporations and government agencies, in over 100 countries. In 2013, SafeNet recorded revenues of US$337 million and profit from operations of US$35 million and expects revenues of US$370 million and profit from operations of US$51 million for 2014. The purchase price of US$890 million is self-funded with US$440 million from available cash, and US$450 million drawn from existing long-term credit facilities. The closing of the transaction is expected to occur in Q4 2014, after approval from the relevant regulatory and antitrust authorities.
Taulia raised $27 million in Series D funding. The round was funded by current investors, including Matrix, Trinity, Lakestar, DAG, and led by QuestMark Partners. The funding comes as the San Francisco-based startup has seen more than a 300% increase in revenue during the first two quarters of 2014, compared to the same two quarters from 2013. Taulia attributes the unprecedented growth to doubling its number of customers in 2014, and maintaining its 100 percent customer retention and renewal rate. This includes a number of significant customer wins in EMEA following the opening of a London office on November 2013. San Francisco-based Taulia provides some of the world’s largest organisations with cloud-based invoice, payment and dynamic discounting solutions.
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.
MasterCard and Silicon Valley Bank are inviting startups from across North America to apply for a position in the Commerce.Innovated. class. In the four-month Commerce.Innovated. program, participating startups receive access to industry expertise across the commerce space from selected MasterCard and Silicon Valley Bank executives and partners. Participants must be focused on an innovative commerce solution; have assembled a strong, small core team; activated a beta of their solution, that projects to generate revenue in the next 6 months; and have secured or raising seed funding, with plans to raise Series A.
Western Union has been recognized by Sears Holdings Corp. with a prestigious Partner in Transformation Award for 2014. Western Union received the award for creating a customer destination at Kmart stores, driving significant foot traffic. Many of the customers sending Western Union Money Transfer® transactions have also become valuable Kmart shoppers, creating a win-win for both brands. The award was recently presented at Sears Holdings’ 2014 Vendor Summit. Sears Holdings presents its prestigious Partners in Transformation award to a select group of companies that excel in supporting the transformation of Sears Holdings through innovation around integrated retail and the Shop Your WayTM program. Of the more than 30,000 companies that work with Sears Holdings, fewer than one half of one percent (.5%) receive the award.
Companies, utilities, government entities and nonprofits that accept electronic payments from their customers can now collect those funds on-site with new E-Payment Service Kiosks from U.S. Bank Global Treasury Management. Similar to an ATM, U.S. Bank’s E-Payment Service Kiosks are customizable, free-standing units available to businesses, nonprofits, utilities and other billers that want to give their own customers the option to conveniently and securely pay bills on the spot.
Itonis, Inc. today announced that it has signed a Licensing Agreement with MyECheck, Inc. for Itonis to acquire a software license for MyECheck’s patented mobile payment app that will facilitate point of purchase transactions for medical marijuana, gambling, and general retail sales. There is no expiration date on that license. The license agreement calls for Itonis to pay a one-time licensing fee to MyECheck as well as a portion of the per-transaction fees collected at the point of sale.
BNY Mellon appointed John Gannon head of business development for Banking Transaction Services (BTS). He will focus on growing BTS in North America and expanding its scope to support clients on a global basis. BTS is a comprehensive suite of payment outsourcing services that enable brokerage firms and other providers of wealth and asset management services to offer banking solutions, including debit cards, bill-pay, rewards programs, and other value added solutions. Gannon joined BNY Mellon in 1998, serving since then in a series of increasingly responsible management positions in operations, product management and sales & relationship management.
JCB International, the international operations subsidiary of JCB Co., has started JCB merchant acquiring operations with ACLEDA Bank Plc. (“ACLEDA”). With this launch, JCB cards will be accepted at over 650 locations throughout the country. Cambodia is a rapidly growing country with more than 6% of annual economic growth rate since the beginning of 2000s, and increasing attractiveness as a new investment destination as well as other Mekong region countries. It is expected that there is growing demand for acceptance of payment cards from business visitors and tourists coming to Cambodia.