POS & LOYALTY PROGRAMS HELP RETAIL IT SPENDING

The Retail sector is posing a great opportunity for IT marketers at its transition stage from unorganized to organized format. India spends maximum on business specific application followed by front end customer interaction and back end support function. There has been a rapid expansion of organized retail formats and the concept of shopping is moving in and around hypermarkets, supermarkets, and specialty stores. India is witnessing a changing lifestyle, increased incomes, the demographic variability and vibrant democracy which have helped retail sector to grow and to take the shape of modern retail. The modern retail market is estimated $200 billion in the year 2014-15 which is over 30% of total retail.

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GlobalCollect Appoints Senior Credit and Risk Officer

Stephen M. Buechner has been appointed Senior Credit and Risk Officer with GlobalCollect. As a member of GlobalCollect’s Executive Council, Buechner oversees GlobalCollect’s overall risk and credit governance and manages global compliance schemes such as PCI DSS. Prior to this, he served as the Head of Risk for Global Payments at Barclays PLC, where he was responsible for defining and implementing the risk management framework for Barclays Spain, Italy, Portugal, Germany, and France. He also held broad leadership positions within Barclays overseeing implementing payment risk strategies at Barclays’ Global Payment Operations Processing, and managing the payments principal risk remit across the Global Retail Bank.

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First Data Implements VeriFone POS

VeriFone Systems has been selected by First Data Corporation as the exclusive provider of Class A Point-of-Sale (POS) payment acceptance systems in the Caribbean region. First Data is partnering with VeriFone to develop applications for VeriFone’s “Vx Solutions” and “VX Evolution” countertop, wireless and PIN entry systems. First Data intends to expand its product offering to include the most advanced payment system hardware and software technology throughout the region with a strong focus on security and authentication for Caribbean businesses.

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VISA FORGES ALLIANCE WITH MONTISE

Monitise is further strengthening its alliance with Visa Europe, which is investing GBP24.7 million in Monitise at an issue price of 35p per share for 70.5 million new Monitise shares. With this, Visa Europe President and Chief Executive Peter Ayliffe, will join Monitise’s Board of Directors. Monitise also announces it has agreed to acquire the 51% stake in its US joint venture, Monitise Americas, held by Metavante Corporation, a subsidiary of Fidelity National Information Services Inc. (NYSE: FIS) (“FIS”). FIS is one of the world’s largest global providers dedicated to banking and payments technologies. In consideration for the purchase, Metavante will be issued with a 3.3% stake in Monitise plc. Completion is conditional on shares being admitted to trading on AIM. Monitise’s acquisition of the 51% stake in Monitise Americas values that business at $29.4 million.

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DHASATRA Expands Xpress Money Network

Xpress Money Instant Money Transfer entered into an agreement with DHASATRA Indonesian Remittances, expanding its network by an added 4000 locations to the existing 8000 Xpress Money locations in Indonesia through PT POS Indonesia, as well as offer account credit services to over 130 banks. DHASATRA Indonesian Remittances offers efficient pay-out services that make the money transfer simple. Remittances sent before 3 o’clock on weekdays and before 12 o’clock on Saturday will be credited within an hour on the same day of the transfer. Both XM and DHASATRA are known for their excellent support systems and call centres that ensure a smooth payout process.

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Western Union Assumes Control of Finint S.r.l.

Western Union global payment services acquired Finint S.r.l. Finint manages more than 10,000 subagent locations across Italy, Spain, and the United Kingdom. Western Union previously owned 30 percent of the company prior to acquiring the remaining 70 percent. The transaction complements Western Union’s acquisitions of leading European network agents FEXCO in 2009, and Angelo Costa S.r.l. earlier this year.

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Russian Standard Implements Welcome Real-time

Russian Standard Bank (RSB) launched its RSB+ loyalty platform which is based on technology from Welcome Real-time, the global leader in innovative loyalty solutions. Set to reward RSB’s 23 million cardholders every time they use their card across a range of acquiring partners, the program allows the Bank’s partners to build their own targeted and cost-effective promotions, offering cardholders discounts or the opportunity to earn points and coupons in real-time at the point of sale. RSB will be using Welcome Real-time’s proven Welcome XLS software to run and manage the campaigns and track rewards for all cardholders across all retailers participating in the scheme. Welcome XLS offers real-time integration with any point of sale device used by participating retailers, regardless of the payment application or infrastructure being used.

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Alfa Bank Deploys BPC Contactless Visa Payment

BPC Banking Technologies Open System e-payment solutions completed its certified Visa PayWave launch as Alfa-Bank finishes implementing chip technology. The BPC SmartVista Alfa-Bank offers customers speed and convenience of contactless payments at the POS, namely with the BPC “SmartIssuer” full end-to-end card management including rapid product development, application processing, cardholder servicing and, in conjunction with SmartPro, card personalization and production for all card types, including EMV.

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Heartland Sees Performance Growth in 3Q/11

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Heartland Payment Systems payment processors posted 3Q/11 net earnings of $12.6 million with a net Income of $12.7 million, compared to the year ago figure of $8.0 million. Meanwhile, revenues hit $532 million, up from the year ago figure of $499 million and the $526 million posted in 2Q/11, while merchant…

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Cardtronics Appoints New Executive VP

Jeffery Keith has been appointed executive VP with Cardtronics’ Global Operations Group to ensure U.S.-located ATMs dispense cash 24-hours per day. Keith also oversees general management of ATM performance monitoring; cash management; technical support; field service; customer call center; inventory; purchasing; and global vendor relations. Having most recently joined EDC in 2007-which Cardtronics recently took over- Keith served as its executive VP, Business Development. Before this, he served as president of BVIG Financial since 2002, until EDC ATM acquired the company in 2007.

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USA Tech Processes 3Q/11 Transaction Volume of $42mm

USA Technologies cashless payment and M2M telemetry solutions for self-serve, small ticket retailing industries, announced in 3Q/11 it handled 25 million transactions representing $42 million in small ticket transactions, increases of 79% and 75%, respectively, from 14 million transactions representing $24 million the year ago period. The Company increased the number of customers on its ePort Connect Service during the quarter ended September 30, 2011 by approximately 300, to over 2,225 at September 30, 2011, and increased connections to its Service by approximately 10,000 to a total of approximately 129,000 at September 30, 2011″an increase of 85% in customers and 47% in connections when compared to the same date a year ago.

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FIS Prepaid Adoption Soars

FIS banking and payments technology has signed more than 80 new agreements worldwide for its prepaid card processing solutions this year. Providing financial institutions and retailers with new product opportunities that will attract and retain customers, prepaid programs are also increasingly being utilized by government entities around the world to provide cash-based benefits to their residents. FIS prepaid processing solutions includes prepaid card processing set up and management, card production and personalization, inventory management and customized distribution solutions, transaction processing, fraud detection and prevention, funds settlement, call center and IVR/VRU customer service, dispute processing, detailed reporting and mobile and Web hosting services.

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