DFC Global Corp international diversified financial services company serving primarily unbanked and under-banked consumers announced at the Company’s special meeting of stockholders a majority of the outstanding shares of DFC Global common stock voted to approve the acquisition of DFC Global by an affiliate of Lone Star Funds (“Lone Star”). Houlihan Lokey Capital, Inc. is acting as financial advisor to DFC Global in connection with the transaction. Pepper Hamilton LLP is acting as DFC Global’s legal advisor. Jefferies LLC is acting as lead financial advisor to Lone Star Funds and Credit Suisse Securities (USA), LLC is acting as financial advisor. Jefferies Finance LLC and Credit Suisse AG are providing debt financing commitments for the acquisition.Details
Venmo has developed a way to tip a favorite artist, or donating to a good cause, or other money that enables people to continue doing what matters. The new Venmo Button is a new way to accept tips, donations, and other optional payments. It’s trivial to embed on a web site, and receiving payments is just as frictionless as you’d expect from Venmo.Details
Lake Michigan Credit Union (LMCU) is partnering VerifyValid electronically-delivered check payments (eChecks). This lets members to quickly and easily receive, manage and deposit VerifyValid eChecks directly into their accounts.
eChecks combine the speed and convenience of electronic payments with the safety, familiarity, and information of paper checks, and can be sent from any computer, tablet or iOS phone. eChecks are currently used by individuals and businesses, such as Grand Valley State University, one of West Michigan’s largest employers, to pay many of its vendors. Additionally, the rate of eCheck usage is increasing nationally through partnerships between VerifyValid and Deluxe Corporation. Financial institutions can offer the VerifyValid eLockbox technology using no new equipment, no software installation, and requires no maintenance or service calls. LMCU can add it to a member’s account in minutes.
Green Dot Corporation supports Visa’s recently announced designation for consumer reloadable prepaid products in the U.S. The new designation is aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. Green Dot Corporation is the largest provider of reloadable prepaid debit cards in America with its products sold in more than 90,000 retail locations nationwide.To qualify for the new Visa prepaid designation, prepaid programs must meet a set of standards outlined by Visa that relate to simplified fees and transparent disclosures as well as superior consumer protections.Details
Monitise banking technology partnered Kredi Bank to offer Nuvo ‘branchless banking’ service with mobile commerce capabilities. This allows customers to open accounts and complete all their transactions via mobile and internet banking, Nuvo enables consumers to manage their money and take advantage of mobile shopping and commerce services in their own time and from anywhere. Account features include competitive interest rates, free account transactions and money transfers, and perks such as Yapı Kredi’s World Gold or Play Card loyalty programs. In addition to delivering banking convenience, Nuvo offers exclusive shopping benefits to its users, including discounts and reduced delivery costs. Nuvo is currently available on iOS and Android, in both Turkish and English.Details
Volante announced the release of its latest ISO 20022 Accelerator; the SADC Payments IS0 20022 Conversion Pack. The pack is designed to help firms comply with the new harmonized local payments infrastructure being created within the Southern African Region. The SADC Payments Conversion Pack contains a range of software modules that provides all SADC rules and message components in pre-built cartridges. The combination of pre-built components plus Volante’s proven ISO 20022 payments processing software enables any bank to convert to a SADC payments processing environment quickly and efficiently. With Volante ISO 20022 product, firms are able to insulate themselves from changes to future standards as well as leverage the technology for use in other business areas with global and regional ISO 20022 projects.Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] VeriFone Systems secure electronic payment solutions announced for the three months ended April 30, 2014 net revenue of $467 million, up 9% from the year ago figure of $430 million. The second quarter financial results exceeded Verifone guidance. This comes as VeriFone approved restructuring plans in order to support its transformation…Details
San Francisco-based Square has unleashed Square Invoices to help sellers get paid fast with free unlimited invoices and no monthly service fee. Now sellers can accept payments in person, online in Square Market, and through Square Invoices for the same low 2.75% transaction price. Sellers can track all sales from their Square Dashboard, making it easy to manage all of their business operations from one place.Details
MasterCard will be a title sponsor and partner for the Wearable World In-Flight Wearable Technology Hackathon, which focuses on the connected traveler. The event will combine developers and hardware manufacturers in the wearable space taking place to create new technologies for trial on American Airlines. More than 200 developers will have a chance to work with American’s development team, hardware and API partners like MasterCard throughout the weekend to create the next killer wearable app/product. Featured MasterCard API Services that will enable developers to build mobile and wearable apps include MasterCard Location Services, Simplify Commerce, MasterPass Partner Wallet, and MoneySend. Teams will then have 30 days to develop a prototype of their technology, with finalists then selected to test out their systems on a transcontinental American Airlines flight from New York City to San Francisco aboard the new Airbus A321T. The winning team receives an incubation sponsorship with Wearable World – as well as the opportunity to pitch American Airlines Technology Group.Details
Reposs has been appointed the only EPoS partner for WHSmith Local using the Reposs Core EPoS Software and Toshiba Global Commerce Solutions SurePOS and TCxWave hardware. WHSmith Local needed an EPoS Solution for their franchisees that could manage product supplied by WHS retail and also manage all the other products and services that are offered by a typical news agent and convenience store. The Reposs solution included all the required features and the knowledge and experience of connecting retail to wholesale to develop the two-way electronic link to WHSmith retail. The WHSmith Local Reposs link enables the retailer to stay up to date with the products supplied by WHS retail. This includes a product file with all retail prices, delivery notes for stock deliveries, promotions and special offers, stock order processing and key sales data processing.Details
Welch ATM announced the acquisition of the ATM portfolio of privately held Thillens. The ATMs purchased by Welch are part of Thillen’s financial institution sponsorship program entailing partnerships with credit unions and select employee group locations. Over seventy percent of the acquired ATMs are placed in Chicago, Illinois and align well with Welch’s strategic plans for this important geographic population center. Thillens will continue to provide cash delivery solutions after the transaction close. They will also play a key role in growing the Chicago ATM business post-closing.Details
Intellicheck Mobilisa will exhibit at the 2014 Hospitality Industry Technology Exposition & Conference (HITEC 2014), offering demonstrations of the integration of the SaaS version of its ScanINN® check-in and ID-verification software. ScanINN automates the hotel registration and reservation process and makes it faster and more efficient. The ScanINN software enables hotel personnel to scan a guest’s ID card to process the information encoded on it, quickly and automatically filling in the electronic forms stored by the hotel’s computer. Compared to manual data entry, this automated procedure not only increases productivity, but also protects against data entry errors and reduces the risk of identity theft. The Company will also offer demonstrations of a variety of different hardware options for reading ID cards, and will also demonstrate its barZapp™ app for Android, iPhone and iPad. BarZapp is an ID-checking mobile app that allows a user’s smartphone to check an ID card.Details