Hawaii State Federal Credit Union has selected Open Solutions’ “DNA” processing platform. Using .NET technology on its open platform, “DNA” implements a universal data model and design with a client-centric processes. It also focuses on enhancing workflow, flexibility and productivity with the centralized “Oracle” relational database for running a service-oriented financial institution to help credit unions streamline both front- and back-office processes. With this, “DNA” creates a centralized view of customers, employees and business partners, which Hawaii State Federal Credit Union will implement in an outsourced environment through Open Solutions’ data center and has developed an institution-wide promotion to create a logo and internal branding campaign. Open Solutions provides integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets.Details
MasterCard announced financial results for 3Q/10 with a net income of $518 million, compared with the last quarter figure of $458 million, a net revenue of $1.4 billion, flat compared to last quarter. This was thanks in great part to an increase in cross-border volumes of 15.4%, compared with the 15.2% increase seen in the last quarter, and an 8.5% increase in GDV on a local currency basis to $685 billion, compared with 8.5% to $656 billion in 2Q/10. Meanwhile, year-over-year, worldwide purchase volume during the quarter was up 7.9% to $514 billion; the number of processed transactions was up 0.6%; total operating expenses decreased 4.1% to $662 million thanks to a 6.7% reduction in general and administrative expenses; and the operating margin was up 4.2% to 53.6%.
2Q/10 NET REVENUES ($ billions)
Source: CardData (www.carddata.com)
The Bancorp Bank Payment Solutions Group has forged a partnership with Net1 Virtual Credit Card to introduce “VCpay” prepaid virtual payment card
application to the m-payment market for Card-Not-Present transactions. The “VCpay” application has been distributed to tens of thousands of smartphones
with significant adoption anticipated in coming months. Metro PCS will be Net1âs first distributor of “VCpay” to its several million prepaid customers as
an application that will be pre-loaded on new smartphones or can be downloaded on select existing devices. The MetroPCS Virtual Prepaid MasterCard mobile
phone-based prepaid program does not require the user to have a physical card or a bank account and can be loaded with cash at any of MoneyGramâs 40,000
U.S. agent locations.
Moggle has received certification to use the Chase Paymentech’s “Orbital Payment Gateway” for its “Virtual Piggy” technology. This certification allows Moggleâs Virtual Piggy application to support credit card transactions on the Chase Paymentech payment processing platform. The Chase platform supports all major credit cards. Virtual Piggy is an online system that allows parents/guardians to set up an online spending profile for their children and control their children’s spending on the web. It is designed to give the parent the ability to control and guide the child through their online transactions â handling both computer and mobile based transactions.Details
Dazbog Coffee multi-unit, multi-state gourmet coffee company has partnered with Mocapay and will launch its mobile platform initially at Colorado locations.
The Mocapay mobile suite is easily integrated with Dazbogâs existing POS equipment. This is a prime example of the adaption to the digital culture for
mass marketing to reach every age demographic. Mocapayâs mobile suite is ultimately designed to increase loyalty and drive revenue through the POS with
m-payments capability. Soon to follow will be the Mocapay payment solution at Arizona, California, Maryland, Texas and Wyoming stores.
Electronic Arts has entered into a five-year strategic relationship with Facebook, tapping the more than 200 million users who play games every month. Offering a more accessible experience for those who purchase virtual goods on Facebook, Facebook Credits will become the exclusive payment method in EA games on Facebook. With this, EA will receive the same 70 percent revenue share for Facebook Credits as is standard for all developers on Facebook. CA-based Electronic Arts is a global interactive entertainment software company founded in 1982 to develop, publish and distribute interactive software worldwide for video game systems, personal computers, wireless devices and the Internet.Details
Dynamic Card Solutions (DCS) has been ranked number 238 on the Deloitte “Technology Fast 500.” Ranking the 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America, the “Technology Fast 500” rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009 in which DCS grew 398 percent. Dynamic Card Solutions (DCS) was recently acquired by Datacard Group and provides instant issuance and PIN selection solutions for banks, credit unions and retailers that issue EMV(R)-compliant contactless and magnetic stripe cards. Datacard Group brand offers secure ID and card personalization solutions.Details
TransCard has kicked off its “Switch for Free” prepaid processing solution for banks serving under- and un-banked consumers. With this, TransCard will waive the implementation fee for program managers and ISOs having been established at least 2 years that join the program. The bundled solution allows client customers with card portfolios- with at least $1 million in annual spend- a resource for seeking new partners while avoiding bank and processing implementation fees. Targeting reloadable prepaid portfolios, “Switch For Free” requires the program manager to be a registered ISO of a network association and is available to banks that wish to convert their prepaid agent program to a direct issuer program through the Community Bank Prepaid Program, partnered with Business Solutions, a subsidiary of the American Bankerâs Association.Details
U.S. Bankâs “FlexPerks” Travel Rewards program has been recognized by the Direct Marketing Association (DMA) as one the world’s best direct marketing campaigns. In conjunction with its ad campaign partner, DirectDesign, the Bank earned a 2010 International GOLD ECHO award in the Financial Products and Services category for its marketing campaign to transition former U.S. Bank WorldPerks Visa customers to the new U.S. Award judges are industry marketers who rigorously assess direct marketing campaigns based on strategy, creativity and results. Customers can earn rewards including travel, cash back, merchandise, gift cards and statement credits with FlexPerks.Details
App Ninjas, in addition to its “Swipe for iPhone,” is now shipping the Apple-approved “Credit Card Swiper for iPhone” hardware accessory. Supporting retail transactions to the Swipe mobile credit card processing solution, available to merchants directly or through App Ninjas’ network of value-added white-label partners, “The Swipe” white-label solution lets banks and merchants offer credit card processing for iPhone, iPod touch, and iPad. Partnersâ customers process cards through a custom-branded app, newly enhanced to support the Credit Card Swiper for full retail support. It also gives partners same day start-up and access to App Ninjasâ PA-DSS certified iPhone solution and can be customized to integrate with a partnerâs existing payment gateway.Details
Amazon.com Gift Cards can now be sent through Facebook at www.amazon.com/giftcards-facebook. The cards can be personalized and delivered on the recipient’s Facebook “Wall” for up to $5,000 and provide an optional gift card message. The sender can also schedule the date for the gift card to appear on the recipient’s Facebook Wall up to a year in advance. Amazon is also offering a “Give 5, Get $5”, for which the first 10,000 customers who give an MP3-themed Amazon.com Gift Card to five different Facebook friends will get a $5 credit good for music downloads at Amazon MP3.Details
The Western Union Company has renamed its international business payments service Western Union Business Solutions, formerly under the Custom House name since September 2009. Western Union acquired Custom House international business payments and foreign-exchange solutions to businesses to tap the SME business payments market. With this, Western Union set out to address for smaller businesses a lack of 24/7 access; difficult-to-use online payment platforms; exchange-rate risk and lack of expertise; and lack of transparency in the payments process. SME customers can access service by contacting experienced foreign-exchange professionals in 32 branch offices in seven countries and visit the Western Union Business Solutions website, http://business.westernunion.com for real-time foreign-exchange rates and have access to industry specialists; newsletters detailing trends; webinars; and whitepapers.Details