Affluent Consumers Increasingly Use eLayaway

eLayaway layaway payment processor has seen a steady increase in the average household income of its users over the past six years. Currently, over 23% of visits to eLayaway.com are from consumers with household incomes above $100,000 and 42% are above $60,000. The increase in consumer household income is supported by a similar increase in eLayaway merchants who primarily serve the more affluent market. The eLayaway payment process focuses on credit-weary consumers and those looking for a convenient payment-planning tool. The Company also owns and operates its eLayawaySPORTS.com, eLayawayTRAVEL.com and eLayawayHEALTH.com.

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Payvment launches Facebook Retail Solution

Payvment has introduced the Facebook Shopping Mall. Unifying all of the businesses with Payvment storefronts and categorize shopping experiences by seller, items, bestsellers and recommended items and allow users to “like” items that they want, see their friends’ “liked” items, and get recommendations based on their Facebook interests. The Shopping Mall will aggregate over one million searchable items offered by the more than 50,000 sellers that use Payvment’s unique storefront platform. Moreover, Payvment’s universal shopping cart and checkout feature allows the user to add items from different stores to the same cart and go through one checkout process.

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Canada’s Household Credit Problem Under Scope

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While the balance sheets of Canadian banks, businesses, and government remain strong, Canadian consumers have accumulated debt at an unprecedented rate to a household debt three times the size of its national debt of more than CAD$1.5 trillion. The Department of Finance Canada, along with Canada’s financial institutions, are encouraged to…

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Bank of New Zealand Leverages the ATM Marketing and Personalization

Bank of New Zealand (BNZ) was an early adopter of Phoenix Interactive’s VISTAatm™ multi-vendor, self service software platform and for more than a decade they have been using Phoenix’s Developer Workbench™ toolkit to deliver new and advanced functionality to their customers at the ATM channel. Over a year ago, the Bank worked with Phoenix as a beta partner for the Commander™ suite of products, first focusing on the remote terminal management and asset tracking capabilities, followed more recently with the product’s customer centric and personalization capabilities.

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NRF Wants Fed to Reduce Interchange Cap

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The National Retail Federation is urging Congress not to delay debit card swipe fee reform, taking the stance capping debit card swipe fees at 12 cents per transaction does not go far enough, and banks should honor debit transactions at or close to face value. The NRF insists the card industry’s…

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Verifone Releases mCommerce Guidelines

VeriFone Systems urged aspiring mobile payment service companies to engage with retailers in determining market requirements to enable mobile phone-initiated payments and services at the retail point of sale. The Company released key guidelines to ensure that mobile payments don’t follow the path of previous alternative payment schemes that only succeeded in alienating merchants. The guidelines demonstrate deployment and management of complex NFC technologies will require significant ongoing services from the retailer’s payment systems provider; mobile commerce must be streamlined with existing POS services and managed well for the retailer; mobile commerce must go from zero to 90 mph in five seconds; mobile commerce must be integrated with other forms of payment; and mobile commerce must be ironclad secure. Security, both real and perceived, is imperative to the adoption and sustainability of mobile commerce. Even minor setbacks in security could compromise consumer adoption and stop the movement in its tracks.

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Clear2Pay NFC Test Solution NFC Forum-Approved

The NFC Forum approved the Clear2Pay NFC Test Solution. The next generation payment solutions announced its test tool is developed to enable the industry confirm compliance of their products to the NFC Forum standards-based specifications. The Integri branded solution will be used by certification test laboratories for the official validation of digital protocol conformance of NFC products worldwide. The solution is also available for NFC device manufacturers’ debugging and pre-certification needs.

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Fiserv Appoints New Board Member

Carl W. Stern has been appointed to the Fiserv Board of Directors. Bringing with him 35 years’ strategic business thinking experience, Stern first joined BCG management consulting firm that advises clients on direction and performance in 1974. He led BCG’s Chicago office from 1981 to 1991, and the company’s Americas region from 1991 to 1997. In 1997, he was elected president and chief executive officer of the company, a position he held through 2003. He also served in the U.S. Navy as a lieutenant after having graduated from Harvard University, cum laude, with a Bachelor of Arts in economics. He also holds a Master of Business Administration degree from the Stanford Graduate School of Business.

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PaymentVision Launches of Electronic Payments for BEAM

PaymentVision electronic payment processing technology for collections released its integrated offering for BEAM by Beam4D Enterprises receivables management software. Debt purchasing organizations, collection agencies, and investment fund managers already rely on BEAM for portfolio management, collector productivity tools and the ability to efficiently move information to and from outside debt servicers. BEAM provides a technical infrastructure for organizations that perform debt purchasing and debt servicing functions. PaymentVision processing offers reduced administrative overhead; No hold, no reserve; lower return rates; PCI compliance; and efficiency.

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Limelight Announces PCI Compliant Solution

Retailers can now utilize Limelight’s PCI compliant service as part of their overall PCI compliance plan and to mitigate security risks associated with their delivery platform. For this, Limelight is working with VeriSign online security to develop their security measures, including tokens and SSL certificates. Limelight’s PCI compliant Secure Commerce Accelerator allows retailers to better balance a richer end user experience with overall site performance. The service maximizes the delivery of dynamic site content such as transactions and shopping carts, as well as personalized pages and other highly interactive content. Through Limelight’s reliable global infrastructure, Secure Commerce Accelerator can amplify the effectiveness of customer-owned infrastructure and increase the availability of storefronts during peak usage periods. Retailers employing the solution can consistently and quickly provide end users with engaging sites and secure transactions regardless of site traffic or end user location.

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SHAZAM to Offer Banks Personalization Through NCR ATMs

SHAZAM is set to offer advanced ATM marketing software from NCR to its member banks and credit unions on the NCR’s APTRA eMarketing solution. This will provide for its clients a centralized and secure means to run personalized direct marketing programs to customers, seamlessly integrated with ATM transactions, enabling the same level of personalization as they get in the branch. The NCR “APTRA eMarketing” Preference Center works in conjunction with SHAZAM’s business software, CRM system and customer databases and provides consumers with a convenient online portal to set their communication preferences. The module enables SHAZAM’s members to deliver real-time, personalized and synchronized messaging across channels in line with their preferences, such as default language, fast cash amount and receipt options, all of which speeds up transaction times.

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Expert Group Announces New Pre-Paid Credit Card

Mother of Pearl Card of Expert Group financial service and product company is embarking on the US and Latin America. The prepaid card is tapping a market which generated in 2008 $247.7 billion, a $27.8 billion increase over the $220.27 billion load in 2007. Expert financial plan shows an over $4 Million Dollar revenue company at the end of 2012 , over $30 Million by 2015, over $300 Million by 2020 and over $1 Billion in year 2025. This growth will be generated by focusing our product brands to targeted market segments, focusing on Joint ventures with our sister companies.

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