VocaLink Payment Service Hits Five-Year Mark

VocaLink is celebrating the five year anniversary of its Faster Payments Service, with 2.5 billion transactions securely processed since its launch in 2008. Against a tough economic backdrop, the service has flourished and real time processing is now the standard time for phone or internet initiated domestic UK payments. The Faster Payments Service is the largest real time payment system in the world that operates 24 hours a day, 7 days a week, offering direct customer initiation and almost instantaneous transfer of value to the beneficiary. VocaLink processes payments on behalf of the Faster Payments Scheme Limited. The service supports businesses and consumers alike with the ability to make immediate bank transfers.

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MasterCard Names European Commercial Head

MasterCard appointed Andrew Buckley Head of Commercial Products for Europe to lead the commercial team in Europe and delivering advanced commercial payments solutions to small businesses and large corporations and their employees. Andrew previously served as VP, Global Corporate Card Product Management at American Express. In his role, he was responsible for launching news products, such as Corporate Centurion, and new markets such as Russia. He was also VP, Global Corporate Marketing with American Express, where he drove the shift to digital acquisition. He also held senior Sales and Technology roles with American Express, in both the UK and USA. Prior to this, he was a consultant with PricewaterhouseCoopers, and before that held strategy, sales and marketing roles with major Telecoms and IT companies. This experience included the startup of Telco’s such as Cegetel in France and BT NIS in Japan.

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ANZ Deploys NCR Cash Recycling

NCR announced ANZ Bank New Zealand has embarked on Asia-Pacific’s biggest deployment of its next-generation teller cash recycler (TCR) to provide a friendlier, more engaging branch experience. The NCR Cash Recycler 11 quickly accepts and dispenses cash for teller staff, allowing them to focus their attention on the customer rather than counting bank notes. Also, by immediately securing all deposited notes in its safe, cash drawers and loose cash are eliminated from the teller counter, improving security. This has enabled ANZ to remove barriers within the branch, which have traditionally kept customers and staff on opposite sides of the counter. NCR’s next-generation recycler can cut these transaction times by up to 50 percent and allow tellers to focus on customer service and offering advice rather than bill counting.

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MoneyGram Posts Revenue Up 7% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MoneyGram payment services posted 1Q/13 total revenue of $340.5 million, up 7% on both a reported and constant currency basis. Meanwhile, money transfer revenue increased 10% from the year ago figure thanks to transfer transaction volume up 11%. This was subsequent to a 13% growth in U.S. outbound sends, namely to…

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AnywhereCommerce Partners Paytoo and Mobilepaid

AnywhereCommerce global payments technology entered into a strategic alliance with PayToo and Mobilepaid to deliver a multifaceted mobile payment acceptance solution that can support a variety of payment presentation technologies. Available for download on all common smartphones and tablets, the new app relies on AnywhereCommerce’s patented audio-jack technology to transform any smartphone or tablet into a highly secure mPOS terminal. Through this technology, merchants can accept payments made through traditional magnetic stripe, EMV chip, and NFC platforms. AnywhereCommerce, PayToo, and Mobilepaid targets the over 25 million small retailers and more than three billion unbanked consumers worldwide.

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First Data Names New Vice Chairman

First Data electronic commerce and payment processing announced that Executive VP, Ed Labry, has been named its Vice Chairman. Now the senior-most advisor to the chief executive officer, Labry will lead the company’s engagement with its premier customers and driving new enterprise client engagement. Labry was previously president of First Data North America, a market that grew to contribute more than 85 percent of the company’s consolidated revenue under his leadership from 2010 through 2012. First Data’s U.S. operations deliver products and services to financial institutions and bank alliance partners, merchants and commercial customers, providing virtually all services in the payment continuum, from payment card issuing to acquiring transactions at the point of sale for processing and settlement. Previously Labry served as president of the company’s Retail and Alliance Services division.

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AIRTAG Facilitates Magento E-Commerce mWallets

AIRTAG Mobile Shopping Solutions announced AIRSHOP advanced ordering & payment solution has been fully integrated with Magento; the eBay owned open source e-commerce platform used by more than 150,000 retailers. This integration enables retailers currently using Magento for their e-commerce sites to easily transition to mobile commerce and offer consumers a multi-channel experience that includes mobile, web, and tablet applications. Forrester Research predicts that by 2017, half of all mobile internet users will be mobile retail buyers, meaning that retailers must start to develop a mobilized and multi-channel strategy. This offers a full retailer wallet for advanced ordering and payments with both in-store and delivery pick-up options and multiple payment scheme support, including PayPal, 1 Click, and Credit Card with integrated targeted marketing through mobile loyalty, geolocated couponing, geofencing, push notifications, location based marketing and product recommendations.

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Ink from Chase Refines Jot Mobile App

Ink from Chase announced a new receipt capture capability exclusively for JotSM, a free mobile application and online tool designed to meet the needs of small business owners who are often on the go. Jot saves small business owners time in the back office by enabling them to easily track, categorize and organize business expenses – including actual receipts – in real-time from their iPhone® and Android™ mobile devices. Jot sends small business owners a push alert within seconds of making a purchase with their Ink card. Customers can immediately tag these purchases to custom categories on a mobile device or online. With the receipt capture feature, customers simply take a photo of a receipt with their mobile device camera and attach it to purchases made with an Ink card. Customers can then sort transactions, download and print receipts online and create and download reports containing purchases and receipts into accounting software, including QuickBooks® and Excel®.

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Fiserv Reports Posts 1Q/13 Revenue Up 6%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fiserv posted 1Q/13 revenue of $1.15 billion, compared with $1.10 billion in the first quarter of 2012. Adjusted revenue was $1.08 billion in the first quarter compared with $1.02 billion in 2012, an increase of 6 percent. The company acquired Open Solutions account processing technology for financial institutions and reported its…

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RushCard Targets Increased Transparency

UniRush, program manager for the Prepaid Visa RushCard pioneered by Russell Simmons in 2003,announced new Fee Disclosures designed to make it easy for customers to understand the cost of using their RushCard, going above and beyond current industry standards.RushCard introduced a fee-free ATM network – for existing cardholders and new customers – in order to help cardholders keep the cost-to-use down. RushCard’s new, best-in-class Fee Disclosures will appear online at www.rushcard.com and in all Terms & Conditions mailings. Designed to go beyond current industry and regulatory standards, the disclosures (see: https://www.rushcard.com/howitworks/ScheduleOfFees.pdf) contain easy to understand fee descriptions, as well as clear explanations of when each fee is incurred. RushCard offers 3 different fee plan options: RushUnlimited, Pay-As-You-Go, and Monthly. The fees for each plan appear side-by-side, making it simple for prospective customers to compare plans. In addition, an easy-to-use Plan Calculator is available to help customers make the right selection.

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Discover Partners Network International, Expands Network

Discover Financial Services and Network International payment solutions provider announced a strategic alliance that will allow Mercury Network Card acceptance on Discover, Diners Club International and PULSE networks for international purchases and cash access outside of U.A.E. These agreements focus initially on enabling Mercury Cards on the DFS networks, which include Discover Network, Diners Club International, PULSE and other partner networks, to provide acceptance in more than 185 countries and territories. Network International formally launched the Mercury Network scheme on April 22, 2013, with the introduction of a pre-paid card in the U.A.E. which will allow companies to remunerate employees who do not have access to traditional banking services. The agreement with Discover will allow Network International to support credit and debit cards on a global basis.

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Barclays Deploys NCR ATMs

Barclays, which has operated in Ghana for more than 95 years, has installed 29 NCR SelfServ 34 ATMs featuring intelligent deposit, allowing Barclays customers to deposit cash without an envelope and get immediate, on-screen validation of their deposit. The new ATMs will feature in-person bill payment and remittance software, so customers can pay a bill or send money to friends and family through the speed and security of the ATM and the Barclays brand. Through NCR’s remittance software, Barclay’s customers can send money to another person’s account in real time, using cash deposited at the ATM. For financial institutions, this software allows them to provide a value-added, fee-based service to typically underserved customers.

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