Vodacom Announces m-pesa Redesign

The Vodacom m-pesa slution is now used by more than 18 million people across 13 countries to perform banking and money transfer services via mobile phone. Specifically redesigned for the South African market, the service introduces a number of entirely new elements including a chip and pin protected Visa card, and a voucher system to upload cash. The new m-pesa Visa card gives access to approximately 27,000 ATMs and over 240,000 merchant outlets in South Africa, dramatically increasing the versatility of the service. Another key innovation is the introduction of a voucher system which allows people to convert cash to m-pesa at all Vodacom shops, selected spaza shops, and at selected retailers. The process is similar to buying airtime and makes topping up the m-pesa wallet quick and convenient. On top of this, traditional services like person to person transfers have been optimised. Additional functionality is planned for the near future. In short, this is true mobile banking that has something to offer for all income groups across South Africa.

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Visa Posts Exponential Contactless Payment Growth

The use of contactless cards to make payments has continued to gain monthly momentum in the UK, according to figures released by Visa Europe. Consumers made almost 20 million (19.7 million) contactless transactions across the UK in May 2014, an 18% increase on April 2014 alone. More than 37.8 million contactless cards have now been issued by UK banks, a 35% increase on the same period last year. May 2014 also set a new record for the total value of transactions made by contactless cards in the UK in a single month, reaching £126.7 million, a 14% increase on April 2014. This also indicates a growth of 189% since May 2013. The average UK transaction value for contactless cards in May 2014 was £6.43. This figure represents a 34 pence per transaction increase since May 2013, where contactless payments averaged £6.09 per transaction.

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Visa Europe reports surge in UK contactless payments

The use of contactless cards to make payments has continued to gain monthly momentum, with users having made almost 20 million (19.7 million) contactless transactions across the UK in May 2014, an 18% increase on April 2014. More than 37.8 million contactless cards have now been issued by UK banks, a 35% increase on the same period last year.May 2014 also set a new record for the total value of transactions made by contactless cards in the UK in a single month, reaching £126.7 million, a 14% increase on April 2014. This also indicates a growth of 189% since May 2013. The average UK transaction value for contactless cards in May 2014 was £6.43.

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Western Union Posts 2Q/14 Revenue up 1% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union 2Q/14 revenues up 1% compared to the prior year period. Consumer-to-Consumer (C2C) revenues increased 2%, or 3% constant currency, while transactions increased 6%. Transaction growth benefited from the previously implemented pricing actions in key corridors and a strong increase in westernunion.com online money transfer. Westernunion.com C2C transactions increased 46%…

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Billtrust Announces New CIO, SVP

Billtrust has hired Tom Iler as Chief Information Officer and Paul Wakolbinger as Senior Vice President of Sales.Iler, most recently at New York digital technology company Vibrant Media where he was Chief Technology Officer, has over 15 years of C-level technology experience. He has served in CTO and CIO positions at companies of all sizes from successful startups to large public corporations. In addition to Vibrant Media, Iler has held executive posts at Ascend One, AOL and Advertising.com. Wakolbinger, with more than 20 years’ experience as a software sales and sales management executive, comes to Billtrust from SunGard Corporate Liquidity, a division of SunGard Financial Systems, where he was Senior VP of Sales, Receivable Solutions. Wakolbinger’s specialty is building sales teams that consistently exceed sales quotas; he has extensive experience in selling application software as well as SaaS and managed-service offerings.

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Spindle releases API toolset for third-party developers

Spindle mobile commerce solutions announced its Developer Integration Tools to its customer base and resellers. The expanded API toolset, which leverages Spindle’s “instant acceptance” merchant boarding process, is accessible through Spindle’s website at:developers.spindle.com. The site will also include tools from Spindle partners such as Slim CD, a payment processing gateway provider based in Coral Springs, Florida. The launch of this platform advances Spindle’s mobile commerce portfolio into fast-growing market segments where developers are looking to combine payment capabilities with the simplicity of instant boarding for their customers and users.This adds transaction processing capabilities to online, mobile and brick-and-mortar merchant software solutions.

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RewardsNOW Launches New Loyalty Programs

RewardsNOW is launching its loyalty programs for three new clients during the first quarter of this year. In partnership with CO-OP Financial Services, RewardsNOW worked with Michigan Community Credit Union, based in Jackson, Michigan, to convert their existing credit and debit card loyalty program to the RewardsNOW platform. In addition to earning points (by using their credit or debit card) from the credit union everywhere they shop, Michigan Community CU’s members earn bonus points from merchants when they shop locally using their Michigan Community CU debit or credit card at retailers included in Shop Main Street, RewardsNOW’s local discount shopping program; or online through ShoppingFLING, RewardsNOW’s online shopping mall. Sterling United Federal Credit Union, based in Evansville, Indiana also launched their Premier Points loyalty program to encourage greater debit card use and reward their most loyal members. The Premier Points program offers Sterling’s members seamless access to use their earned points for a full range of redemption choices. Meanwhile, Tri-State Dental Supply, Inc. based in Monroe, New Jersey, launched their new program, Tri-State Dental Dollars. The Tri-State Dental Dollars program is a loyalty program designed to drive higher levels of purchasing and to reward its best customers utilizing Tri-State’s services. Customers of Tri-State Dental Supply earn 1 point for every dollar they spend on purchases made with Tri-State Dental.

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Citigroup CFO to Present at the Barclays Conference

John Gerspach, Citigroup CEO, is set to present at the Barclays Global Financial Services Conference on Monday, September 8, 2014. The presentation is expected to begin at approximately 9:00 AM (Eastern). A live webcast and presentation materials will be available at www.citigroup.com/citi/investor. Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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ACI Worldwide posts Q2 income rise

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ACI Worldwide announced 2Q/14 revenue of $255 million, up $47 million by 23% from the year ago figure while organic revenue was up 4%. Meanwhile, the 12-month backlog increased by $2 million from last quarter to $885 million, while our 60-month backlog increased by $14 million from last quarter to $3.92…

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Bank of America extends Preferred Rewards program

Preferred Rewards is now available for clients in California, Oregon, Arizona and Idaho. Clients with a Bank of America personal checking account and a three-month average combined balance of $20,000 or more across their checking, savings and/or Merrill Edge® investment accounts can enroll. And, as clients’ combined balances grow, so do their benefits and rewards. With a three-tier structure – Gold, Platinum and Platinum Honors – clients have additional opportunities to earn, save and get more back based on their tier. There is no fee to enroll in the Preferred Rewards program for qualified Bank of America clients. Onca clients. Clients’ three-month average balance will be reviewed monthly for the opportunity to achieve additional benefits.

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CEMEA PDV

Visa’s CEMEA region, dominated by prepaid payment cards, jumped 27% in the second quarter driven by cash advance volume. Visa has an estimated 307 million cards-in-force (CIF) currently in the CEMEA region, compared to 289 million in Q2/13. The total number of accounts rose to an estimated 306 million in Q2/14, compared to 291 million for Q2/13.

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