Mobile RDC Market Gap Soon to Shrink

Showing 25% of consumers and 50% of mobile bankers want mobile remote deposit capture (RDC) to bypass ATMs and bank branches and deposit checks using cell phones, Javelin Research’s “2011 Mobile Remote Deposit Capture” disclosed only three of the top 10 largest U.S. financial institutions- JPMorgan Chase, PNC and U.S. Bank currently offer this service. This market gap for mobile RDC is among the questions addressed by Javelin’s latest fact-based research-backed report. Research also shows over half of financial institutions (FIs) will roll out mobile RDC in the next 12 months. The report pinpoints ideal consumer segments, describes benefits to both consumers and FIs, and delineates marketing strategies.

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PXT Payments launches Commerce App for Smart Phones

PXT Payments electronic payment solutions provider launched “PXT Money” stored value app for consumer smart phones and a transaction settlement system for merchants. The “PXT Money” solution brings merchants to consumers on their smart phones using a single complete mobile payment system. This eliminates the need for merchants to have expensive payment system hardware while the smart phone app has limitless options for merchant loyalty programs, discounts, and exclusive offers. Wherever there is Internet access, consumers can pay for any item, restaurant bill, or professional services of any kind by clicking on the “PXT Money” icon using their cell phone number.

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Wincor Nixdorf to Provide BB&T ATMs and Maintenance

Wincor Nixdorf has finalized a deal with Winston-Salem based BB&T Corporation to provide ATM hardware and associated services for up to 100 branch and off-premise locations in North Carolina and Florida. The 100 new ATMs will all feature touch screen capabilities, a new functional enhancement for the BB&T fleet. These units will be equipped with Wincor Nixdorf’s ProFlex multi-vendor ATM software. In addition to its ATMs, Wincor Nixdorf also offers “ProFlex” advanced multi-vendor software platform that allows all ATMs to work together seamlessly, regardless of manufacturer. Wincor was the first to develop multi-vendor software and currently leads the industry in the total number of installations worldwide.

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Bank of America Announces Additional $200,000 to Aid Tornado Victims

Bank of America announced it will donate $200,000 to support those affected by recent tornadoes in Missouri, including a $100,000 donation to the American Red Cross. The remaining $100,000 contribution will be directed towards the long-term recovery efforts to restore basic medical services and fund the rebuilding of homes, schools and other structures critical to the affected communities and is in addition to the $760,000 contributed to aid victims of the tornadoes that swept across the southern and eastern United States in recent weeks and part of the more than $2 million that has been contributed this year to support disaster relief needs across the company’s global footprint.

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GE Capital to continue providing Men’s Wearhouse Credit Card program

GE Capital Retail Finance consumer lending re-upped agreements to continue Men’s Wearhouse consumer credit card program for another seven years. Initially established in 1998, the relationship with GE Capital has administered the Men’s Wearhouse Perfect Fit Credit Card, which offers accountholders an additional 5% discount on purchases made with the card in-store and online at menswearhouse.com. Cardholders also benefit from the “Perfect Fit” rewards program, offering a $50 reward certificate for every $500 spent, $30 off every tuxedo rental and a Member-only birthday gift.

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Bank of America, Chase & Wells Fargo JV Focuses on P2P e-Payments

Bank of America, JPMorgan Chase and Wells Fargo have formed a new venture to introduce its ” clearXchange” solution, allowing customers to move money more conveniently and safely using a mobile number or email address. The “clearXchange” platform lets customers of the three banks move funds directly from their existing checking accounts using an e-mail address or mobile number – instead of providing checking account and routing numbers. The clearXchange service will roll out nationally, and there are plans over time to expand it to include other financial institutions and endpoints to create a money movement capability across the industry.

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Ceridian Prepaid Joins Polish Gift Card Association

Ceridian Prepaid has joined the Polish Gift Card Association. With this, the Company will facilitate the goals of the Polish Gift Card, which includes raising awareness and knowledge of market developments and activities associated with the idea of gift cards and vouchers. It communicates directly with both consumers and businesses and promotes the benefits associated with gift card use. The Association, whose members include both Polish and international gift card issuers and other companies, will work closely with SVS and its other members to facilitate the exchange of information, experiences and ideas.

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Metro Bank Implements Temenos m-banking

Temenos banking software announced Metro Bank will implement Temenos’ “ARC Mobile” mobile banking. Metro Bank’s business model is underpinned by a ‘convenience with quality’ ethos, which pledges to deliver the ultimate customer experience through exceptional service delivery. The bank will deploy ARC Mobile towards the end of the year. In developed banking markets, the increase in smart phone adoption coupled with today’s technology savvy consumer is driving the need for banks to offer superior mobile banking services. Metro Bank can deliver a larger set of convenient products and services including alerts, interactive enquiries and payments, enabling customers to access the bank via a secure mobile channel whenever and however they choose.

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Most Brits to use mobile money by 2015

The majority of Britons will be using their mobile phone to manage their bank accounts, pay bills and make purchases within the next three years as those using their mobile for financial matters has doubled in two years to almost 10% of the population. This number will exceed 50% in the next few years as banks and retailers deliver new services. This, according to research commissioned by Monitise, also shows a major factor will also be the emergence of ‘tap-and-go’ payments usingNFC , plus an increase in the range of Mobile Money services. Also, 57% have used mobile banking more frequently in the past year than they did in the previous year; 68% find banking on the handset easier than over the internet; and 70% of mobile bankers are very keen to use their mobile to buy things.

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MasterCard and APS Financial extend pre-paid partnership

MasterCard and prepaid card issuer APS Financial Limited have extended their successful brand partnership by signing a new five-year deal to continue collaboration to drive prepaid market growth in Europe. APS was prepaid card company to achieved direct membership to MasterCard in the UK back in 2007. As an exclusive issuer of MasterCard-branded cards this partnership has grown and strengthened thanks is great part to APS growing among the ranks of the UKs leading providers of payment solutions and prepaid cards.

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Travelex Makes Chip and PIN foreign currency cash card Available online

Travelex non-bank foreign exchange currency provider is making it easier for international travelers to purchase its “Cash Passport” with chip and PIN technology through its website. This gives consumers the convenience of choosing either home delivery or a new in-store pick-up option at more than 100 convenient US Travelex locations. Customers purchasing “Cash Passport” online can take advantage of Travelex’s Online “Price Promise,” honoring a lower published price on complete online foreign currency orders. If a customer locates a lower price on another website that was offered on the same business day as their purchase at www.us.travelex.com, they can contact a Travelex foreign exchange specialist within 14 days to receive the difference between the prices. The “Cash Passport” card can be loaded or reloaded in Euro or British Pound Sterling and was designed to meet the growing consumer demand for currency cards that are technologically compatible with overseas merchants that now utilize chip-based transactions.

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InfoVista Launches Self-Service Management App

InfoVista launched its “Vista360 2.0” award-winning self-service performance management Web 2.0 application. Giving flexible and simplified management of operational and customer reporting for service providers and enterprises, the “Vista360” update lets users in network and IT service operations centers pinpoint, analyze and collaborate in real time on network performance and service quality degradation, gain a high-level perspective of network utilization and return on investment, and improve operational troubleshooting on the entire service chain. Vista360 2.0 promotes collaboration both inside and outside of the NOC by enabling one-click sharing of any dashboard as well as access to the underlying performance information through external web-based applications.

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