WePay Names New VP, Marketing

WePay appointed Tina Hsiao, formerly of Intuit, Vice President of Marketing. She brings with her extensive experience with small businesses and her history of leadership across marketing, product management, customer care and finance will be invaluable as WePay continues to grow and gain market share in small business payments. Hsiao spent over 11 years at Intuit in their small business division, where she launched and led marketing for several high-growth products that helped small businesses acquire customers and manage their finances.

Details

Tutuka Implements Aconite EMV Upgrade

Aconite, the leading provider of chip and mobile software solutions, is pleased to announce that Tutuka, a South African third party processor, has selected Aconite’s Smart EMV Manager solution to deliver full EMV compliance in their card processing platform. Tutuka provides a national prepaid card service for clients issuing Visa and MasterCard prepaid products. The upgrade of this service to full EMV capability will ensure that clients, who include Standard Bank, Vodacom and MasterCard, can benefit from the enhanced security that EMV brings.

Details

Green Dot 4Q/12 Revenue up 13% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Green Dot posted a 4Q/12 13% year-over-year increase in operating revenues to $138.6 million and full year operating revenues of $554.5 million, a 15% increase over 2011. Additional disclosure indicates total operating revenues on a GAAP basis increased 15% to $137.3 million from $119.1 million in 4Q/11; net income of $10.4…

Details

MasterCard Names Chief Human Resources Officer

MasterCard appointed Ron Garrow Chief Human Resources Officer and member of its Executive Committee, effective April 1. Garrow joined MasterCard in March 2010 as Group Head, Global Talent Acquisition Management and Development. Then he was named Group Executive of Global Human Resources Plans and Programs, which included oversight of Rewards, Workforce Programs, Employee Relations and Human Resources Services and Solutions. Garrow held various Human Resources leadership positions at Bank of America over a six-year period, culminating in the position of Chief Learning Officer. He also spent 19 years at Wachovia in various Human Resources roles focused on training, leadership and executive development.

Details

GE Capital Retail Bank Renews Credit Card Partnership

GE Capital Retail Bank forged a multi-year extension with P.C. Richard & Son to provide a consumer credit card program. P.C. Richard & Son appliance and consumer electronics retailers has 65 locations, as well as an online store, has a long history of working with GE. Customers can apply for the P.C. Richard & Son Credit Card in-store or online and qualified applicants receive immediate approval for purchases with flexible financing promotions. GE Capital has helped major retailers and more than 200,000 small- and mid-sized businesses throughout the United States build consumer financing programs that support business growth and customer satisfaction.

Details

Western Union Announces Prepaid Tax Refund Cards

Western Union announced its partnership with Advent Financial to offer quick and easy access to tax refunds on the “Get It Card” prepaid card. Those filing their federal and state tax returns at tax-return preparation offices offering financial products through Advent can elect to receive their refunds on the Get It Prepaid MasterCard, reloadable (GPR) prepaid card offered by Western Union and Advent. This offers a quicker and more convenient method of receiving a tax refund than a paper refund check and can be used after the refund has been spent. Cardholders can reload their cards at one of 45,000 Western Union Agent locations in the U.S.

Details

ACI Worldwide Acquires Online Resources

ACI Worldwide will acquire Online Resources in an all cash transaction for $3.85 per share, per a recently inked definitive transaction agreement. With directors of both companies having approved the transaction, the integration of ACI Worldwide and Online Resources will make available to financial institutions the preeminent online and mobile banking, bill payment and presentment solutions. ACI Worldwide is recognized as the leader in the U.S. Large Bank Market for 2012 and a Company to Watch in 2013 by Aite Group. The addition of Online Resources’ payment and presentment capabilities will benefit customers by giving them the choice and flexibility to address a broader set of needs from a single integrated source and broaden ACI Worldwide’s customer base with the addition of 1,000 banks, credit unions, billers, credit card issuers, and other credit and payment service providers.

Details

Western Union Expands Money Transfer Service

Western Union extended its prepaid receive card program to Costa Rica and Guatemala. Leveraging the global Western Union Agent network, the card, offered together with AirPak, Western Union’s Agent in Central America, allows receivers of Western Union Money Transfer transactions to put all or part of those funds onto a prepaid MasterCard. The cards can be used wherever MasterCard is accepted worldwide, including ATMs. Guatemalans received $4.5 billion in remittances last year, and just 22% have a bank account; Costa Ricans received more than $585 million in remittances last year, and half of the population has a bank account.

Details

UAE Central Bank Intros Emirates ID card

The UAE Central Bank and the Emirates Identity Authority have discussed the means of enhancing their co-operation as regards using the smart ID card and activating its advanced applications in the financial sector across the UAE. The meeting discussed forming a joint committee between the UAE Central Bank and the Emirates ID to draft a strategic co-operation agreementthat includes a number of initiatives aimed at promoting the culture of digital ID and knowledge-based economy and enabling the UAE Central Bank to upgrade the performance of the UAE financial sector and protect the identity of customers by capitalizing on the infrastructure of the ID card project and the advanced technical features of the ID card.

Details

Deutsche Card Announces Prepaid Partnership

Prepaid Financial Services prepaid solutions and Deutsche Card Services signed a strategic partnership to develop and deliver innovative prepaid card solutions. The strategic agreement is an outcome of the prepaid card providers’ continuous expansion in new territories and the full-service acquirer and payment service providers’ aim to deliver excellent solutions in response to client demands. For this, Prepaid Financial Services will work with Deutsche Card Services to develop prepaid card solutions for corporate clients. Prepaid solutions can be beneficial for travel and other corporate expenses, payment of disbursements, benefit payments, compensation payments e.g. for airlines and insurance companies and payroll administration, especially where banking facilities are underdeveloped.

Details

MasterCard Posts Solid 4Q & FY/12 Performance

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard announced 4Q/12 net income of $605 million, up 18% from the year-ago period, and net revenue of $1.9 billion, a 10% increase from 4Q/11. Net revenue growth was thanks to an increase in processed transactions of 20% to 9.2 billion; an increase in cross-border volumes of 17% and a 14%…

Details