Debit Card Spending Losing Footing on Credit Card Spending

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Spending for goods and services on general purpose and private label consumer and commercial credit, debit, and prepaid cards reached $4.633 trillion in 2012, and is projected to reach $7.285 trillion by 2017. This indicates the more than 20-year trend that had debit card purchase volume and purchase transactions gaining share…

Details

Elavon Promotes NA President From Within

Elavon global payments provider promoted Guy Harris President, NA, to oversee operations in USA and Canada. Having joined Elavon in 2010 as Managing Director of Western, Central and Southern Europe (WCSE), Harris drove growth in Elavon’s WCSE region and led from the front employing a customer-centric approach. He previously was VP, Global Sales for Misys, a leading global supplier of IT solutions to the banking industry. While there, he delivered revenue through 5 regional sales heads – Europe, MEA, Americas, Asia and Strategic Accounts, and he transformed the sales team structure to increase productivity throughout the organisation. He brings 25 years of IT sales management experience to the role.

Details

Heartland to Offer AmEx Merchant Financing

Heartland Payment will be the first processor to distribute American Express Merchant Financing, giving small businesses access to highly price-competitive alternative financing solutions and be able to obtain loans based on their annual card processing volume. American Express’ Merchant Financing is designed to provide immediate capital to finance short-term investments and be paid back over a 12-month period, thus avoiding long-term debt commitments. In contrast to traditional commercial lending vehicles, Merchant Financing provides convenient access to capital up to $750,000″enabling even more small business owners to finance their growth needs, stay competitive and enhance their businesses.

Details

SumUp Announces Southern Expansion

SumUp launched its mobile payments service in Brazil and opened an office in São Paulo, where it will allow small businesses to accept all major credit cards with their smartphones or tablets using the SumUp Chip & Signature Card Reader. Charged on a fee per transaction basis, starting at 3.7%, merchants can choose to receive payouts after five business days or 30 calendar days. SumUp has launched a major update of its iOS and Android App. The completely redesigned apps will allow for an even faster payment flow.

Details

Seamless Enhances mPayment Solution SEQR in bpost Partnership

Seamless is expanding its SEQR mwallet, a collaboration with bpost bank to allow consumers to connect their bank account to SEQR’s versatile and generic mobile payment solution. SEQR enables anyone with a smartphone to pay in stores, online, at restaurants, utility bills and parking lots, transfer money at no charge, store receipts digitally and receive offers and promotions directly – through one mobile app solution. McDonald’s is the first to roll out and will make SEQR available in all of its Belgian restaurants at the time of launch in the spring of 2014. bpost bank will offer its customers the ability to connect SEQR’s mobile payment application to their bank account. This will allow them to make payments in stores and online quickly, securely and without charge. Through the SEQR app, the user simply scans or taps a QR-code/NFC at the check-out of partnering merchants and approves the purchase by entering a PIN code. SEQR is a generic payment method, independent from existing payment structures, that enables merchants to lower their interchange fees significantly compared to those charged by traditional card companies; a win-win-win for all parties.

Details

FireHost Announces PCI DSS Compliance Solution

FireHost made available its ‘Payment Island’ service to help customers keep sensitive data secure and is specifically designed to enable payment-focused businesses to meet PCI DSS. The FireHost Payment Island helps ensure compliance with the latest PCI DSS requirements. The Payment Island is updated regularly to ensure alignment with updates to the PCI DSS standard, and will help companies handling payment card data achieve compliance with PCI DSS 3.0, which was introduced on the 7th of November 2013. The FireHost Payment Island is an effective way for organisations to reduce their scope of PCI DSS compliance, better secure their customer data, and meet their audit requirements by reducing the risk profile associated with cardholder data. Already available in the US, FireHost’s Payment Island enabled ecommerce, retail, payments and other financial customers to process nearly £15 million of transactions in the last year.

Details

Payleven Announces Loyalty Solution

Payleven launched its extensive loyalty program, giving merchants turn one-time clients into regular customers whilst establishing strong ties with them. Based on a digital version of the well-known loyalty bonus stamp cards and integrated into the payleven app, it enables small and medium-sized businesses to create individual loyalty programms and corresponding campaigns. In addition, they gain an insight into consumer spending and are given the opportunity to interact with their customers. The payleven loyalty program offers enormous additional value on top of using Chip & PIN as a payment solution, and paves the way for the future of mPOS. It is available as of now as an open beta-test and is available for payleven customers in Germany and United Kingdom without an additional charge.

Details

Byblos Bank Deploys Gemalto Bio-Sourced EMV Payment Card

Gemalto and Byblos Bank joined forces to launch the Middle East’s first bio-sourced EMV payment cards in Lebanon. Working with Gemalto’s local partner Unilux Cards, Byblos Bank plans to migrate 80% of its entire banking card portfolio to Gemalto’s Clarista bio-sourced payment cards within the next three years. The new cards will be replacing the conventional plastic card body with renewable materials that are easily recyclable and compostable. The bank has already started offering the Clarista bio-sourced cards as a standard to all new cardholders, and will be steadily switching the existing Byblos Bank debit, credit and prepaid cards to the bio-sourced alternative, as they become due for renewal. Holders of the new bio-sourced cards will be automatically enrolled in the Bank’s existing Card Loyalty Program, which offers a wide range of rewards such as travel points or miles.

Details

USA Technologies Posts Revenue Up 23% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies wireless, cashless payment and M2M telemetry solutions posted a fiscal 1Q/14 23% increase in license and transaction fee revenues to $8.5 million. Meanwhile, there was a 21% increase in total revenues to $10.1 million and a net income of $293,654 from $39,140. License and transaction fee revenues, which represented…

Details

Trust One Payment Services Appoints Seasoned VP, Operations

Trust One Payment Services credit and debit card transaction processing company Charge Payment Appointed Michael Campbell VP, Operations. Bringing more than 25 years’ experience in the payments processing industry, he has developed an outstanding reputation for his work, particularly in risk management, fraud, credit, portfolio management and acquisition, analytics and policy. Since April 2012, he has served as a Senior Risk Consultant for The Strawhecker Group, a management consulting company focused on the global electronic payments industry. He was most recently Chief Credit Officer and Head of Merchant PCI at WorldPay. This after having served as VP, Credit with Chase Paymentech Merchant Services, and VP, Head of Credit, at Chase Merchant Services.

Details

Trust One Payment Services Appoints Seasoned VP, Operations

Trust One Payment Services credit and debit card transaction processing company Charge Payment Appointed Michael Campbell VP, Operations. Bringing more than 25 years’ experience in the payments processing industry, he has developed an outstanding reputation for his work, particularly in risk management, fraud, credit, portfolio management and acquisition, analytics and policy. Since April 2012, he has served as a Senior Risk Consultant for The Strawhecker Group, a management consulting company focused on the global electronic payments industry. He was most recently Chief Credit Officer and Head of Merchant PCI at WorldPay. This after having served as VP, Credit with Chase Paymentech Merchant Services, and VP, Head of Credit, at Chase Merchant Services.

Details