MoneyGram, Neal & Massy Open Money Transfer Center

MoneyGram money transfer and The Neal & Massy Group opened their first stand-alone money transfer center. The new money transfer center will employ a dedicated staff to offer MoneyGram’s money transfer services and Neal & Massy’s Sure Pay bill payment service. Both product offerings will provide consumers with an additional, convenient location to send and receive cash locally and internationally. Neil & Massy will be offering the development of cross-promotions with the company’s grocery stores, offering incentives to customers to visit the money transfer center.

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Unemployment Down a Notch

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Nonfarm payroll employment was up in March as the unemployment scratched out marginal improvement, down .1% from the previous month to 7.6%. The number of unemployed persons was 11.7 million while the number of long-term unemployed for 27 weeks or more was little changed at 4.6 million, accounting for 39.6% of…

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Bank of America Launches New ATM Technology

Bank of America launched its ATM with Teller Assist next-generation banking offering. Combining the technology and convenience of an ATM with the human touch of a teller, this new technology gives customers access to a range of services during extended hours to address their daily banking needs. It also provides convenience, control and flexibility over how, when and where they bank. Using the new ATMs, customers can speak with a Bank of America teller via real-time video and receive the same quality of personal assistance they would if they walked up to a banking center counter. The “ATM with Teller Assist Cash” lets users cash checks for the exact amount, including receiving change; receive cash withdrawals in a variety of denominations ($1, $5, $20 and $100), deposit checks with cash back (future functionality), split a deposit into two or more accounts (future functionality).

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Wells Fargo Appoints VP, Commercial Banking in Chicago

Wells Fargo Commercial Banking, a part of Wells Fargo & Company, hired Keith Plummer VP & relationship manager to focus on building and serving middle market commercial customers in Chicago. Plummer brings more than 11 years of commercial banking in Chicago to Wells Fargo. He had worked at JPMorgan Chase since 2004 in several commercial banking roles, and most recently served as a credit and risk officer for this market. He also served as a relationship manager from 2004-2010. Before that, Plummer worked for LaSalle Bank in Chicago and for American National Bank. Plummer earned his bachelor’s degree in business administration (finance) from Western Michigan University and his MBA from Wyzsza Szkola Biznesu-National Louis University in Nowy Sacz, Poland.

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USA Technologies Secures 85th Patent

USA Technologies wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries announced that the U.S. Patent Office has granted its 85th patent. Further extending USAT’s portfolio of intellectual property in the area of cashless payment and remote diagnostics, U.S. Patent #8,373,558 describes devices and methods for generating an alert for a vending machine. It adds to a collection of USAT patents related to cashless payment, remote audit and interactive transaction capabilities in a vending machine accumulated by USAT as a market leader for cashless payment and telemetry serving the small-ticket, unattended market.

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IFX Forum Partners EPASOrg to Develop ATMs

Interactive Financial eXchange ForumThe Interactive Financial eXchange Forum and EPASOrg inked an MOU on the coordination on the development and delivery of ISO 20022 messages for the management of ATMs. The IFX Forum is an international non-profit industry association whose mission is to develop and promote the adoption of its open, interoperable standard for financial data exchange. Headquartered in Brussels, EPASOrg is an international non-profit organization with a mission to promote the widespread acceptance of EPAS standards, a series of protocols to ensure interoperability between card acceptance and acquiring solutions, integrated retail and terminal management systems. ISO 20022 is an international standard for financial services messaging. The IFX Forum actively engages in international standards activity, including longtime liaison with ISO TC68, a Memorandum of Understanding with ASC X9, and it is completing an effort to submit Extended Remittance content to ISO 20022.

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Nubelo Enlists Payoneer on Enhanced Payment

Payoneer global payments partnered Nubelo to provide multi-currency global payout solutions throughout Europe and Latin America. Nubelo is a fast-growing freelance service platform which allows companies to manage, from a distance, teams of freelancers. Nubelo will take advantage of Payoneer’s multi-currency payout options and provide their freelancers with access to payments in dozens of currencies. With freelancers throughout an array of Spanish-language countries and project management around the globe, Nubelo needed to have a solution that could easily coordinate complex global payments.

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StarHub mWallet adds P2P Redemption with C-Sam

C-SAM secure mobile transactions technology and StarHub info-communication announced the newest update to the SmartWallet mobile app which will enable NFC and P2P mobile ticketing services. The mobile ticketing innovation is the world’s first NFC mobile wallet with P2P redemption of movie tickets. StarHub’s SmartWallet will allow customers to purchase Shaw Theatres movie tickets with their NFC-enabled mobile phones and then redeem these digitally stored entrance tickets with a single tap of the phone on a contactless reader at the cinema. This new capability reduces the time customers spend purchasing and redeeming tickets, creating a compelling and seamless customer experience for movie ticketing. Shaw Theatres, a leading theater group in Singapore, is the first company to deploy the NFC mobile ticketing service. SmartWallet offers three contactless payment card options: credit card, pre-paid card and an ePurse transit card.

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Western Union Marks Continued Global Expansion

Western Union made its services are now available in 13 of Myanmar’s 14 states and divisions, with the addition of 100 branches at Kanbawza Bank (KBZ Bank). Since the launch of Western Union Money Transfer services at six bank Agents in January this year, consumers from 74 countries including Australia, Canada, Japan, Malaysia, Singapore, Thailand, UAE, US, UK and other European countries, have sent money into Myanmar through Western Union. With the addition of KBZ Bank, the Western Union Money Transfer service is now offered through a combined network of 250 bank branches across seven divisions and six states in Myanmar.

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Square 1 Bank Launches Square 1 Asset Management

Square 1 Bank banking partner launched its Square 1 Asset Management. A subsidiary of Square 1 Bank, the firm is a cash management solution designed exclusively for corporations and their institutional investors. Focused on adding value through a client-centered process of understanding risk tolerance and investment objectives and providing individualized investment advice, Square 1 Asset Management offers clients customized solutions tailored to meet their unique corporate cash management needs.

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OpenCoin Acquires simplehoney

Simple Honey has been acquired by OpenCoin. Building the “Ripple” protocol for a new virtual currency and distributed open source payment network, OpenCoin will be composed of the simplehoney consumer engagement team to focus on usability. The simplehoney team has successfully launched targeted vertical applications for the travel and shopping categories. At OpenCoin, they will help build a new open source, distributed payments network and virtual currency called Ripples.

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