Moneris to accept UnionPay cards

Moneris Solutions and UnionPay International entered into an agreement regarding Moneris’ acceptance of UnionPay cards beginning later this year. The number of merchants accepting UnionPay cards in the global market has shown a tremendous increase, giving UnionPay cardholders at home and abroad a network of convenient card use. Moneris and UPI will significantly expand this network in Canada with Moneris’ enablement of UnionPay card acceptance. Moneris is expected to launch UnionPay card acceptance as part of its service offerings to merchants in fall 2014.

Details

CARD FEE INCOME AS A % OF TOTAL INCOME REMAINS FLAT

In their series of weekly year-end card industry trend reports R.K. Hammer now discusses how fee income continues to perform in terms of top line revenue contribution. For decades, interest income on prime/super prime cards had always contributed the largest portion of the card industry’s revenue streams; just the exact opposite for subprime cards, though, where fees have always been the higher piece of total income. As reported earlier, the line between interest income and fee income for prime/super prime accounts has been narrowing substantially in recent years; with lower revenue in many cases coming from interest and an increasingly higher portion derived from fees. That trend continued again in 2013.

Details

VerifyValid Turns iPhones into Checkbooks

In an effort to revamp the payments process for today’s businesses and consumers, VerifyValid, an innovator in providing electronic check payments for businesses, consumers, financial institutions and their customers, has launched its Mobile Checkbook app in the Apple App Store. The app provides consumers and businesses alike with a simple-to-use mobile payment channel that avoids card interchange fees and provides the security and convenience of checks. The Mobile Checkbook expands the VerifyValid portfolio, especially for small businesses and consumers, by making the checkbook the most portable form of payment available.

Details

oti sells Intercard System Electronics

On Track Innovations Ltd. (oti) has sold its wholly owned German subsidiary, Intercard System Electronics GmbH, to a private party. Intercard manufactures electronic assemblies and devices, including oti’s NFC readers and other non-oti related products. The sale of Intercard includes an upfront payment of EUR 700,000 to oti and then future debt payments of certain amounts, as well as preferred pricing for Intercard services for the ongoing manufacturing of oti readers.

Details

MasterCard Partnership Speeds NFC Development

At Mobile World Congress last week MasterCard announced a collaboration between Deutsche Telekom, Telefónica Deutschland, Vodafone and TREVICA (a MasterCard owned company) to create a new mobile platform and accelerate the development of mobile payments in Germany. The three mobile operators represent 80% of mobile customers in Germany, which means that banks and financial institutions can hugely accelerate their ability to provide mass- market mobile payment services to consumers. Instead of connecting to individual mobile operators, issuing banks can now connect to TREVICA and have access to a number of mobile operators with one single integration to the TREVICA platform.

Details

Eaze introduces “Nod To Pay” service

Paying with “Nod To Pay” is truly frictionless. A Google Glass user activates the service with the command “OK Glass, make a payment”. Glass then scans the QR code of any Bitcoin enabled Point Of Sales (POS) application. The transaction details appear on the display of Glass. The user then only needs to nod twice to confirm the payment, making it a truly handsfree payment solution. To keep it safe, a “Nod To Pay” spending limit can easily be set, just like anyone would do with a normal wallet holding offline cash. Any transaction amount above that limit will require an additional security (PIN) code to confirm the payment.

Details

paysafecard CEO Steps Down

Michael Mueller, co-founder and, for the last nine years, CEO of paysafecard group, has reached the decision to leave the board of the company at the end of February 2014. Udo Mueller will take over the position of CEO. Michael Mueller co-founded paysafecard group in 2000, with the aim of developing a safe and convenient prepaid method of payment for the Internet. The group, headquartered in Austria, became one of only a few leading internet and financial services companies globally, combining innovation with sustainable economic success. The company, whose main product, paysafecard, is available at 450,000 locations in 37 countries, currently employs approximately 200 employees and was acquired by the Skrill Group in 2013.

Details

SAIB To Use NCR APTRA Interactive Tellers

Saudi Investment Bank (SAIB) will better serve customers with a number of new ATMs with video technology from NCR Corporation. NCR APTRA Interactive Teller will allow customers to complete over 95 percent of typical branch transactions right at the ATM, 24 hours a day, with the assistance of a live, remote teller. Configured with ‘scalable cheques processing module’ (SCPM), NCR APTRA Interactive Teller can accept and process cheques, while also enabling the remote teller to immediately cash cheques for customers from anywhere, at any time. As part of the agreement, NCR will provide software application development, system analysis, support services and related training programs.

Details

Wave Crest Selected by Commissions2Go

Wave Crest Group Limited, a multi-currency digital payments platform that offers full-service, global solutions, has been selected as program manager and payments technology partner for Commissions2Go’s new commission distribution solution. In the new program, commissionable agents will register with C2Go at C2GoCard.com and receive a personalized C2Go card. C2Go clients can then pay commissions to the account in real time after validation through the C2Go web portal or via a mobile interface using QR codes identifying the recipient. Card recipients can use the C2Go card anywhere major card brands are accepted, or get cash at ATMs. C2Go handles all transaction reporting and 1099s on behalf of their entertainment clients.

Details

Arcontia Announces New Embedded Smart Card Reader

ARCONTIA INTERNATIONAL AB announced its new embedded contactless smart card reader for the Nautiz eTicket Pro II PDA. The Arcontia reader is fully integrated into Handheld’s new Nautiz eTicket Pro II PDA, offering a compact and ergonomic mobile solution for a range of ticketing applications in public transport. The combination of the contactless smart card reader and the PDA provide customers with a lean and rugged mobile device for ticket control, travel information and support workflow processes.

Details

Fiserv Gets Patent for Predictive Scores Solution

Fiserv, Inc. announced that it has been granted a patent by the United States Patent and Trademark Office for a non-sufficient funds (NSF) optimization process in its Predictive Scores(SM) solution. Predictive Scores allows financial institutions to analyze and identify the customers or members who are most likely to respond to marketing initiatives, optimizing the revenue potential of each customer or member by understanding which products and services they are most likely to buy. Through sophisticated analysis, Predictive Scores delivers highly targeted lists that improve marketing campaign results and increase the return on marketing investment.

Details

Citigroup Adjusts Financial Results Thanks to Mexican Fraud

Citi is adjusting downward its 4Q/FY/13 financial results, from those earlier reported by an estimated $235 million due to fraudulent activity through its Mexican subsidiary. This will lower Citi’s 2013 net income from $13.9 billion to $13.7 billion. Citi subsequently intends to release a revised 4Q/13 Quarterly Financial Data Supplement. As of December 31, 2013,…

Details