Bank of America 1Q/14 Results Sees 1Q/14 Net Loss

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Bank of America reported a net loss of $276 million for 1Q/14, compared to net income of $1.5 billion in the year-ago period. Revenue declined 3% from the 1Q/13 to $22.8 billion. These results include $6.0 billion in litigation expense related to the previously announced settlement with the Federal Housing Finance…

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Square Appoints Lead Engineer

Square has hired Alyssa Henry to lead engineering for the company to head up engineering operations for Square’s infrastructure and payments platform. Most recently the Vice President of Amazon Web Services (AWS) Storage Services, Alyssa led services including Amazon S3 and Amazon EBS through hypergrowth, and scaled the teams, software, and businesses. Alyssa was Amazon’s director of software development for ordering, with responsibility for Amazon’s ordering workflow software and databases. Before Amazon, Alyssa spent 12 years at Microsoft working on databases, data access technologies, and internal customer relationship management software in a variety of engineering, program management, and product unit management roles. Alyssa started her career as a developer in the financial services industry.

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Skrill Launches Merchant Global Payments Suite

Skrill, announces the launch of its Global Payment Suite for merchants to give transactional businesses access to enhanced credit and debit processing, plus a range of international alternative payment options all rolled into one solution. The Skrill Global Payment Suite enables them to accept payments from customers across the world, in just one, easy integration. Skrill’s Global Payment Suite brings together Skrill Card Processing, Skrill Alternative Payments and the Skrill Digital Wallet into one package. It enables business to accept credit and debit card payments and multiple local payment methods, in 200 different countries and in 12 checkout languages, so that merchants can use the power of the Internet to do business wherever they choose. The Global Payment Suite includes robust security features, supported by Skrill’s team of anti-fraud and security experts to constantly monitor transactions and take action on behalf of customers.

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Pay.On and EVO Payments Partner for SME Solutions

Pay.On and EVO Payments International (EVO) card payment acquirer and payment service provider partnered to provide small to medium merchants an easy interface to a payment solution that has all the advantages of the latest payment technology.EVO combines strong acquiring, processing and consulting skills on its European platform with the proven expertise of its parent company in the SME area. PAY.ON offers comprehensive technology expertise, from an omnichannel and PCI-compliant payment platform, through to the universal interface COPYandPAY, to the integration of country-specific payment methods and highly efficient risk tools and a number of shopping plugins to the payment-specific expansion of shopping systems. EVO and PAY.ON have created a full service offering to meet the needs of these merchants, through EVO’s payment processing platform which offers the acceptance of a variety of cards, giropay and additional payment methods as well as anti-fraud measures.

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NCR Venue Manager set to enhance customer experience at Vector Arena

NCR Corporation has entered into an agreement with Auckland’s Vector Arena to implement an extensive suite of innovative NCR venue management solutions. The new solution at the 12,000-capacity arena will make every customer interaction an exceptional experience. NCR will deploy NCR Venue Manager, an advanced touchscreen POS and back office solution on 70 NCR POS terminals throughout the venue. NCR Venue Manager will provide managers with sales and inventory information to accurately report, analyze and forecast sales, reducing wastage and keeping costs under control. It offers customers exceptional venue experience with reduced queue time and faster delivery of food and beverages. The NCR advanced touchscreen POS terminal was selected because it can withstand Vector Arena’s punishing conditions and deliver faster service.

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FICO Announces Latest Fraud Resolution Manager Client

FICO announced First National Bank (FNB) deployed its Fraud Resolution Manager. Designed to communicate with customers when a potentially fraudulent transaction takes place, the FICO application allows FNB to automatically contact a customer through voice calls and interactive SMS when a transaction is flagged as suspicious, usually reaching the customer while they’re still at the point of sale. FNB reports that this has reduced the number of fraudulent transactions per case by 30 percent, for a total savings so far of more than R150 million (approximately USD$14.3 million). FNB is now able to validate genuine transactions, focus on the real fraud and improve customer service. FNB is currently using the FICO Fraud Resolution Manager in its Core Banking Solutions area to protect cheque card and debit card accounts.

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Lloyds Banking Group Installs NCR ATMs

NCR announced that Lloyds Banking Group selected NCR SelfServ cash dispense and cash deposit ATMs to upgrade over 1,200 ATMs in the U.K. The new solutions replaced legacy ATMs used by Lloyds Bank, Halifax, Bank of Scotland and TSB for more than a decade, improving availability and banking services for consumers. The new ATMs feature bigger screens, voice guidance for visually impaired customers and two-sided thermal receipt printing. This is also the first installation of contactless card readers in ATMs in the U.K.. NCR will modernize Lloyds ATM estate as the solutions have more effective upgrade capabilities and include the latest technology. Over 1,200 NCR SelfServ 22, NCR SelfServ 25 and NCR SelfServ 34 ATMs replaced legacy ATMs that have reliably served Lloyds Banking Group customers for up to 20 years. The deal included NCR installation services and second line maintenance, ensuring longevity.

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Rogers launches SureTap Wallet Prepaid, Gift Cards

Rogers is launching the suretap wallet, a new application that lets customers use their smartphones to make payments at tens of thousands of retailers across the country. Customers can safely store eligible payment cards on their smartphone and make purchases by simply holding it up to contactless payment terminals, just like they do today with plastic credit and debit cards. Customers can add multiple cards to their suretap wallet including a Rogers Prepaid MasterCard that can be topped up with funds for mobile payments. Also available for purchase are gift cards from leading Canadian food and beverage merchants and retailers including Swiss Chalet, Milestones Grill and Bar, Montana’s Cookhouse, Harvey’s, Kelsey’s, Indigo, Earls Restaurants, Ardene, and Spafinder Wellness 365. In the future, the suretap wallet application will offer more retailer gift cards, as well as store loyalty cards, coupons and ID cards.

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Fujitsu and Ingenico Announce Contactless Payments Partnership

Fujitsu and Ingenico upgraded 63 Merseyrail stations offer contactless payment in terminals and manned ticket outlets. Merseyrail has benefitted from Fujitsu’s STAR point-of-sale ticketing system for the past nine years, after it was implemented in 2005. Reducing paperwork, the system makes it easy for staff to offer a full range of products without having to refer to paper-based manuals. The Merseyside-based rail operator will retain this system, and in conjunction with Ingenico, will provide 92 iPP320 contactless PINPads and Axis, its proprietary centralised payment process solution. These contactless PINPads are fully PCI DSS compliant and were rolled-out across all Merseyrail’s manned kiosk and payment terminals at the end of last year.

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Citigroup Posts Net Income of $3.9B

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citigroup 1Q/14 net income of $3.9 billion and revenues of $20.1 billion. This compared to the year ago figure of $3.8 billion on revenues of $20.2 billion, respectively. Citicorp cost of credit of $1.6 billion in the first quarter 2014 declined 4% from the prior year period. The decline reflected both…

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CO-OP Financial Services Announces Agreement on Visa EMV Common Debit Solution

CO-OP Financial Services signed an agreement with Visa to make the Visa EMV common debit solution available to its credit union clients. This long-term agreement between CO-OP Financial Services and Visa enables development of regulation-compliant debit EMV solutions using a common Application Identifier (AID). Some development will still need to be done at terminals (both POS and ATM) in order to choose the common AID, a priority for industry organizations such as DNA. CO-OP helped found DNA in December 2013, and will continue to play a key role in its activities. Michelle Thornton, Manager-Core Products for CO-OP, is a member of DNA’s Board of Directors. The Visa EMV solution provides portability for debit card issuers, and network routing choices for merchants and ATM acquirers.

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Buffalo Wild Wings Deploys NCR Online Ordering

NCR announced Buffalo Wild Wings implemented its Aloha Online Ordering solution for its 1,000 company-owned and franchised locations in addition to to its existing NCR technology solution. The Aloha Online Ordering enables Buffalo Wild Wings customers to order online and avoid wait times on the phone. Their payment information is securely stored for future orders and they can review their order; increasing order accuracy. All web orders are instantly distributed to the appropriate store and then routed to the kitchen. Buffalo Wild Wings chose NCR for its global footprint, best-in-class solutions, reputation and commitment to the restaurant industry and the ability to work with one vendor as a long-term partner.

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