Global Money Payment Integrates OpenWay

Integration of the “Global Money” Ukrainian payment system with “WAY4” payment processing system, developed by OpenWay, allows banks to connect up to 400 types of paid services and develop alternative channels for interacting with clients. The synergy between Global Money and WAY4 system makes the process of starting joint projects with banks significantly easier. Many financial institutions already work on OpenWay’s card processing, allowing the elimination of expenses for reworking the system, while the Global Money payment system has direct contracts with companies to which payments are made. Currently, 24 service providers are available Oschadbank ATM menus.

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TSYS Execs to Speak at FinovateEurope

TSYS announced that two of its executives will partake in FinovateEurope, showcasing financial and banking technology innovations. They include Chris Colson, director of Innovation, TSYS, and Simon Taylor, European Innovation Lead, TSYS International. Colson and Taylor are to lead a demonstration on TSYS “Spend Controls,” which allows businesses to implement transaction controls to ensure cardholder compliance with purchasing guidelines. It ultimately addresses market-driven needs, offering flexible, innovative products for businesses and corporations.

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Jack Henry Teams TransCard to Tap Underbanked

Jack Henry & Associates (JKHY) technology solutions and payment processing services introduced prepaid cards. TransCard will provide operational support and customizable marketing materials for the solution.The company’s Jack Henry Banking, ProfitStars, and Symitar®divisions will sell the solution that enables financial institutions to offer payroll cards, reloadable prepaid cards, and gift cards that generate additional revenue from commercial and retail customers, while attracting new customers from the underbanked and unbanked market segments.

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Virtual Piggy Partners Ty.Com

Virtual Piggy youth payments added its youth-friendly payment system to Ty’s ecommerce website. Letting parents to set up a monthly allowance for their children, Virtual Piggy promotes financial management while empowering youth under 18 to make purchasing, saving and other money management decisions. Ty is best known for Beanie Babies®, an immensely popular line of plush toys that started in 1993.

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MoneyGram Launches mRemittance Solution

MoneyGram global money transfer announced users of iPhone, Android or Windows 8 mobile devices in the U.S. can now use moneygram.com to send money, find MoneyGram locations, estimate money transfer fees and view recent account activity. This allows the company to tap the $50 billion cross-border U.S. remittance market. MoneyGram offers money transfer services worldwide through a global network of more than 310,000 agent locations in 197 countries.

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Fiserv Inks Expanded Partnership Agreement

Fiserv financial services technology solutions announced that United Community Banks has extended and expanded its partnership, and will continue to operate on the Premier bank platform. In addition to new deployments of card services solutions from Fiserv, United Community Banks will implement a host of additional Fiserv solutions, selected for its innovation, integration and scalability. United currently utilizes “Business Process Manager” for new account and process management, “CheckFree RXP” for bill payment, “Popmoney” for person-to-person payments and “Merchant Source Capture” for remote check deposits, along with several other Fiserv solutions.

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FIS Launches P2P Payments Solution

FIS’ “People Pay” solution, offering real-time P2P payments through its own “PayNet” real-time payments network, is now available through a single platform provided by their financial institution. It allows banks to offer a trusted payment services to their customers and drive increased P2P adoption. Beyond traditional P2P models, the next horizon for today’s digitally demanding, fast-moving consumer is paying any person, company or institution in real time – quickly, easily and securely. Users can now send payments directly to a recipient’s e-mail address or mobile phone number while utilizing the institution’s secure online banking Web site. The standalone P2P solution will also be integrated with FIS channel products and core solutions.

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Virtual Piggy Partners for Expansion

Virtual Piggy youth payments partnered to provide its youth-friendly payment system to Digital Stores. Allowing parents to set up a monthly allowance for their children, Virtual Piggy promotes financial management while empowering youth under 21 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents. Digital Stores provides eCommerce services for EMI and Universal Music Group and are direct-to-fan ecommerce site for artists, labels and brands.

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CARD FEE INCOME, AS A % OF TOTAL INCOME – STILL RISING

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In their series of weekly year-end industry trend reports R.K. Hammer discusses in their latest report how fee income continues to climb higher 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…

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Nedbank Launches New mPOS Solution

Nedbank launched its “PocketPOS” EMV certified mobile POS solution, allowing businesses to process payment card transactions on a smartphone connected to a secure card reader. It is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device. PocketPOS is designed to operate where EMV ‘CHIP & PIN’ technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN. The “PocketPOS” solution is available as a small device with a secure PIN pad that requires the merchant to capture an email address into the smartphone application or as an alternative device with the ability to print out a physical receipt, much like in the case of a traditional POS.

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GE Capital Partners Penske Automotive on Consumer Financing

GE Capital Retail Bank and Penske Automotive retailer partnered to provide a private label consumer credit card program to customers of Penske Automotive Group dealerships. GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will service the account and manage the credit card program. Qualifying Penske CarCareONE cardholders* can take advantage of promotional financing offers such as six-month deferred interest financing on purchases of $299 or more and 12-month deferred interest financing on purchases of $750 or more.

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