First Data Releases May 2014 SpendTrend Analysis

First Data Corporation, the global leader in payment technology and services solutions, today released its First Data SpendTrend® analysis for May 1, 2014 through May 30, 2014, compared to May 2, 2013 through May 31, 2013. SpendTrend tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million merchant locations serviced by First Data. Spending growth of 4.2%, compared to April’s 4.1%, and the average ticket growth of 1.2 % in May gained steam against April’s 0.5% growth, was driven by May’s warm weather, which specifically spurred spending on travel and home improvement.

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peerTransfer Expands Payments

peerTransfer has expanded payment methods to increase currency coverage. The company has doubled its local currency offering, now serving over 95 countries in their local currency, with a total collection capability of over 225 countries and territories. Whether families want to pay via an international debit or credit card, an e-wallet, online bill-pay or a bank transfer (online/offline), peerTransfer leads this innovation in education, providing the optimal solution to meet the needs of this important demographic. International students and families want the ideal payment choice based on the unique needs and the complexities associated with making cross-border payments.

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70% of US CC Will Be EMV

By the end of 2015, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled, says Aite Group. Aite Group’s new research report, EMV: Lessons Learned and the U.S. Outlook, takes a look at the migratory experiences of five countries that preceded the United States in adopting the EMV standard: the United Kingdom, Australia, Brazil, Mexico, and Canada. It also describes the U.S. path to EMV based on interviews with top U.S. issuers and payment networks and makes a series of recommendations for U.S. issuers based on the lessons learned from other countries.

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Bongo Adds Bitcoin

Bongo International, announces that they are the first in their field to accept decentralized P2P currency, Bitcoin. The move to accept Bitcoin confirms Bongo’s innovative approach to international eCommerce. Bongo International currently supports over 60 payment options including VISA, MasterCard, American Express, V Pay, Union Pay and more in addition to the newly introduced Bitcoin.

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BitPay Appoints Former Visa Exec CCO

BitPay named Tim Byun as its Chief Compliance Officer. Formerly the Anti-Money Laundering/Anti-Terrorist Financing Officer of Visa, Tim began his new role for BitPay at the Digital Banking Summit conference June 2 talking about The Digital Future. Byun previously served as Visa’s head of Global Credit Settlement Risk, leading anti-money laundering programs to maintain Visa’s compliance. Before joining Visa, he was an Examining Manager with the Federal Reserve Bank of San Francisco’s Division of Banking Supervision and Regulation for nine years. He earned his MBA from the University of California, Los Angeles and his Bachelor of Science in Finance from the University of Southern California.

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Spire Payments names Kamran Yazdanjoo head, global product development

Spire Payments appointed Kamran Yazdanjoo Head of Global Product Development. Kamran brings to the role over 25 years’ experience and will be responsible for co-ordinating development activities in Spain, England, Scotland, Hong Kong and Russia, and spearheading the delivery of platforms and applications to support the company’s payment solution strategies. Before joining Spire Payments, Kamran served on the Board of Directors of Cubic Transportation Systems Limited as Director of Open Payments. In this role he led new product innovations and the strategy for open payments including mobile and NFC. Prior to this, Kamran was the Vice President of Global R&D at VeriFone Inc., with responsibility for products and services.

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