Card APRs Buck the Trend in January

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs have held the course for the shopping season and into January at a steady 14.98% average. Slightly higher than the 14.95% average measured the year ago period, the average credit card APR has settled just below 15%. This after a nearly 0.50% jump in October and hardly…

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NCR and PayPal Partner on mPOS

NCR and PayPal partnered to integrate PayPal mobile payment options into the recently announced NCR Mobile Pay application and NCR Aloha Online Ordering. NCR Mobile Pay enables restaurant patrons with a smartphone to browse their bill, re-order menu items, alert their server, complete surveys and pay. PayPal appears as a payment option and allows consumers greater choice for secure payments alongside credit or debit card options. Consumers will also be able to use the PayPal mobile application to locate and “check in” at participating NCR Mobile Pay merchants to access the same functionality. Also PayPal integration gives C-Go users another easy option for paying at the pump or inside stores with their smartphone while also providing stores with valuable opportunities for targeted up selling and promotions. NCR and PayPal plan to enhance NCR’s Netkey Endless Aisle application with PayPal integration to speed up the consumer checkout process for consumers using the solution for online shopping and to integrate NCR’s Advanced Marketing Solution (AMS) loyalty and offer management system with the PayPal digital wallet.

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WorldPay Partners Discover on In-Store PayPal

WorldPay US partnered Discover Financial Services (DFS) to enable WorldPay’s customers to accept PayPal In-Store Checkout at the brick-and-mortar locations of participating merchants. WorldPay’s customers will be among the first US businesses able to accept PayPal’s innovative new mag-striped card that extends the speed, simplicity and security of the digital wallet already enjoyed by 50+ million active PayPal customers online to the face-to-face payment transaction. WorldPay customers will be able to begin accepting PayPal at the point of sale in the Spring of 2013.

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Motorola Partners, Deploys mPOS

Motorola Solutions is working with Best Buy Canada and Future Shop enterprise mobile POS solutions. Best Buy Canada and Future Shop are leveraging new mPOS applications coupled with devices, like Motorola’s ET1 enterprise tablet, to empower their retail associates to help customers from the beginning to the end of their shopping experience. Associates can handle more tasks, manage purchase transactions from anywhere in the store and in the future, plan to leverage omni-channel retail strategies like having out-of-stock items shipped to customers’ homes or stores to meet their needs more effectively.

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Wincor Nixdorf Announces Board Changes

The Supervisory Board of Wincor Nixdorf AG has appointed Jens Bohlen (50), currently responsible for the company’s IT Services business, to the Board of Directors, effective from January 1, 2013. Meanwhile, the Supervisory Board has announced its decision to appoint Olaf Heyden (49) as an additional member of the Board of Directors. This appointment will take effect at a date yet to be determined. As a result, the Board of Directors of Wincor Nixdorf AG will in future comprise CEO & President Eckard Heidloff and CFO Dr. Jürgen Wunram as well as Jens Bohlen and Olaf Heyden.

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Prime Card Chargeoffs Hit 6 Year Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fitch prime credit card chargeoffs dropped below 4% for the first time since 2006 to 3.98% in December. The 18 basis point (bp) decline in chargeoffs is thanks to declining bankruptcy filings delinquencies throughout 2012 while chargeoffs dropped an astounding 29.43% since the end of 2011. Meanwhile, late stage delinquencies increased…

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Wells Fargo Names Head of EMEA Global Banking

Wells Fargo announced Joe Saffire has been appointed head of its Global Banking operations in Europe, Middle East and Africa (EMEA). In his London-based role, Saffire will focus on growing the global banking business throughout the region as Wells Fargo expands its international services for U.S.-based commercial and corporate customers doing business in Europe, and for European companies with operations in the U.S. The Global Banking division provides financing options, risk and treasury management solutions, and trade finance services to middle market and large U.S. and foreign owned companies. Saffire spent 20 years with HSBC where he was most recently chief operating officer and head of international banking in Germany. A native of Buffalo, New York, Saffire received his bachelor’s degree from Boston College and an M.B.A. at the University of Buffalo.

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CorFire Execs Join Mozido

Mozido mobile payments, commerce and marketing announced that two former senior CorFire executives have been appointed to its management team. Steve Bacastow and Charlie Wiggs strengthen Mozido’s executive bench to expand its global footprint. Bacastow joins Mozido as senior vice president of operations. An expert in the alignment of IT with business strategy, he will be responsible for leading all company operations functions with a focus on maximizing growth and profitability and meeting compliance standards. Wiggs has joined Mozido as senior vice president of business development. Wiggs will drive new business acquisition in key markets as well as manage relationships with major global clients. Prior to joining Mozido he was vice president of sales for CorFire, where he was responsible for developing and executing the company’s sales and market development strategy for financial institutions.

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Sterling Payments Appoints ISO Business Development Head

Sterling Payment Technologies national payment processor has named Jeffrey Akeson Executive Director of Third Party/ISO Sales where he will lead Sterling’s ISO business development strategy, drive initiatives to build ISO programs and support. Akeson was VP of Third Party Sales with payment processor PowerPay for seven years, where he introduced new tools, processes and value-added products and services that resulted in a significant expansion of the company’s sales portfolio. In his new capacity, Akeson will develop a strategic plan to expand the company’s ISO sales channel by building significant relationships with sales partners and helping their organizations and agents excel in the payment industry.

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TransCard acquires HQ, Will Introduce Prepaids in Malls

TransCard acquired HQ mall-based prepaid card programs, opening new retail distribution channels for a wide variety of prepaid products. HQ Gift Cards currently provides management services for some of the most successful mall gift card programs in the country, managing operations for more than 300 malls and casinos, including 5 of the top 7 mall operators.

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TNS Acquires Appoints Manager in Asian Expansion

Transaction Network Services expanded its presence in Asia with the opening of an office in Taiwan and the appointment of David Chiang as Country Manager. Opened after TNS had been granted a Type II Telecom Business license by the National Communications Commission of Taiwan, which enables it to provide international telecommunication and transactional processing services in Taiwan. TNS is working with a leading payments company in the region to migrate its business to a fully managed PCI DSS compliant service, delivering significant operational benefit and cost savings. Mr Chiang joins from Nexsys Corporation and has previously held roles with companies including Chia Hsin RMC, ComLink, E&M Technology and Kapiit Inc.

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