Avidbank Provides $3mm Line of Credit to USA Technologies

Avidbank Corporate Finance, a Division of Avidbank, has provided USA Technologies a $3 million asset-based line of credit. The credit line is part of USA Technologies’ strategy to assist in the accelerated transition of cashless payment systems and services in the unattended small-ticket, retail market through its JumpStart program. USA Technologies wireless non-cash transactions, associated financial/network services and energy management provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.

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MasterCard Europe and PrePay Solutions Launch mPayments

MasterCard Europe and PrePay Solutions (PPS) are announcing the availability in the autumn of a unique end-to-end prepaid mobile payment platform in Europe. This new service is aimed at any company (telecommunication operators, financial institutions, retailers, others) wanting to distribute a Mobile PayPass prepaid serviceMobile prepaid accounts are of particular appeal to consumers wanting to experience mobile payments for the first time with full control over their finances and spending. PPS’ comprehensive service will be available in across Europe and will address everything from traditional issuance and processing, compliance and supply-chain management to fraud and customer-service support.

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2Q/12 Consumer Spending Up 4.67% Y/Y

Moneris credit and debit card processor announced Canadian consumer spending has increased in the second quarter, up 4.67% compared to the same period last year. June, however, experienced the smallest growth, at 3.72 per cent, which may point to a slowdown in spending. The entertainment category saw the highest increase in overall spending in Q2, at 9.43 per cent, while hotels and restaurants came in close second, with growths of 6.75 and 6.41 per cent, respectively. It was Canadians’ growing appetite for fast food restaurants and acceptance of convenient credit card payment methods that drove the largest increase in spending for the fast food category, with an increase in spend of 10.9 per cent, compared to the same period in 2011. The specialty retail category also experienced strong growth, with stationery (6.62 per cent), florists (6.33 per cent) and pet shops (6.14 per cent) leading the increase in dollars spent. On the other hand, apparel – a traditionally strong spending category for Canadians – experienced more modest growth, with an increase of 2.74 per cent, compared to the same period last year.

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YESpay Contactless Payments Ready for Olympics

YESpay Contactless Payments has successfully equipped 250 locations of the much talked about North Greenwich Arena for accepting contactless payments. With Olympics 2012 being the first-ever contactless games, YESpay shares the limelight as the contactless payment solution provider for the North Greenwich Arena where Artistic Gymnastics, Trampoline, Basketball, and Wheelchair Basketball will be hosted at the London 2012 Summer Olympics. EMV secured Contactless Payment technology allows customers to pay for items by simply waving their card at the POS for items worth GBP20 and under. Hence, customers enjoy shorter queues at the tills with no need to fumble for coins or entering a PIN when they pop out for a quick lunch or a coffee. Visa predicts the number of contactless POS terminals in the UK will rise by 50% to 150,000 in 2012. With Visa’s PayWave; MasterCard’s PayPass and American Express’s Express Pay out in the market, Contactless Payments are certainly on the go.

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First Data Shows Consumer Spending Slowing Way Down

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data announced its SpendTrend analysis for June 2012, tracking same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations. Indicating year-over-year dollar volume growth of 6.4%, down from May’s 7.0% growth, experts are blaming high unemployment and economic anxiety as consumers…

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Regions Bank Launches New Regions Visa Credit Cards

Regions Financial has launched a new suite of credit card products that provide consumers and businesses with flexible access to funds, as well as with the opportunity to earn points from purchases and bank services. The Regions Visa Credit Cards provides options for the changing and varied needs of consumers and businesses – from no annual fee, to zero liability, to participation in Regions Relationship Rewards. The offering includes the Regions Visa Signature for Visa Signature Concierge and participation in Relationship Rewards; the Regions Visa Signature Preferred for Signature benefits, as well as Price Protection, Trip Cancellation/Interruption and more; the Regions Visa Platinum with a lower rate or to participate in Relationship Rewards; and the Regions Visa Student Platinum for students looking to build credit. Also, the Regions Visa Business and Regions Visa Business Enhanced feature no annual fee and benefits like emergency replacement, travel and emergency assistance and more.

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VeriFone Wins $35mm+ Deal in DC Taxi Systems

VeriFone Systems has been awarded a five-year contract by the District of Columbia Taxicab Commission (DCTC) valued from $35 million to as much as $45 million factoring in potential advertising revenue. VeriFone won a competitive bidding process to become the exclusive vendor for installation and support of the DCTC’s Taxicab Smart Meter System project. VeriFone will develop, install and support payment systems integrated with driver and passenger information tablet displays for all of the District’s 6,500 taxis and providing electronic trip reporting, credit card payment processing, display of news and other programming, as well as safety alert activation features for both passengers and drivers. The contract also includes a Back Office Management Information System that will provide the DCTC with automated trip reporting and GPS location services. The addition of 6,500 cabs in Washington, D.C., will increase VeriFone’s taxi media footprint by 23% to over 35,000 in the USA alone, delivering over 10 billion advertising impressions annually.

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Punchcard and Wipit Partner on PrePaid Loyalty Solutions

Punchcard shopping app for personalized rewards is partnering Wipit mobile payment service for web, Android or iOS smart phone apps. With this, business owners can create loyalty and rewards programs for consumers who pay with cash. Punchcard lets users shop at any one of the 15 million local retail businesses where Punchcard works, take a photo of your receipt with the Punchcard app to verify your purchase and earn “punches” on a punch card for that business. Wipit allows mobile consumers to pay for purchases in mobile apps or online using cash while Punchcard makes it easy for these consumers to get rewarded for their loyalty to their favorite businesses.

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IntraLinks and Misys Announces Partnership

IntraLinks global provider of inter-enterprise collaboration services and Misys financial services software forged a strategic partnership arrangement. Designed to better service participants in this $3.9 trillion dollar syndicated loan market by offering end-to-end process solutions that mitigate legal and operational risk and increase operational effectiveness, the partnership will significantly expand efforts in supporting the straight-through-processing of information that is critical to the lending process. The two companies will be launching a major upgrade to the Lenderbridge connector that currently automates the provisioning of lender access to IntraLinks’ virtual deal rooms directly from within Misys Loan IQ, embracing market standards in lender (counterparty) identifiers. This upgrade will serve as a foundation for the launch of additional loan process solutions including the complicated process of administering amendment voting.

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OptConnect and The National ATM Council Partner to Increase Funding

OptConnect, a member of The National ATM Council, forged an Affinity Program agreement with NAC that will make a generous royalty contribution to the organization for each wireless modem ordered by NAC members from OptConnect. Funding NAC is to support efforts to further the interests of ATM ISOs, owners and operators across the United States. OptConnect is a leading provider of wireless communication solutions for ATM machines in the United States.

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Affinity Plus FCU Deploys NCR Teller Cash Recyclers

Affinity Plus Federal Credit Union non-bank financial institution will pilot a non-traditional branch environment using NCR Corporation technology to create an immersive member experience for members of all ages. Affinity Plus’ member advisors are not restricted based on limitations with traditional banking roles of teller and loan officer; instead, member advisors view each interaction with members not as a simple transaction but rather a partnership. It may start as a simple account transaction, and lead to a consumer or home loan, or discussions about budgeting and goal setting. Affinity Plus has designed more than 10 individual workstations to encourage member advisors to focus on the member in front of them. Each station includes automated recycling technology – TCRs – which prevents member advisors from being tied down to one location and allows members a place to comfortably discuss their needs.

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Rovio Deploys Braintree Payments Platform

Braintree payments platform for online and mobile commerce announced Rovio, creator of the Angry Birds franchise of mobile games and merchandise, selected its payment gateway for its new online and mobile store. With this, Rovio online and mobile store is now able to accept payments in more than 130 different currencies from around the globe while reducing PCI compliance scope. The payment gateway has the proven scalability to handle the global surges in demand generated by new game releases. Braintree is able to dramatically reduce clients’ PCI compliance requirements due to its Transparent Redirect, Client-side Encryption and innovative Vault features, which allow merchants to receive payments and store payment information without ever directly handling sensitive credit card data. This greatly reduces the PCI compliance burden for merchants, saving them valuable time and resources.

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