MoneyGram Expands Partnership With Speedway

MoneyGram, a leading global money transfer company, announced it has expanded its relationship with Speedway LLC (Speedway) with the addition of MoneyGram xpress to the convenience store chain’s 1,460 locations across the Midwest. Speedway will also continue to sell MoneyGram money orders under the new agreement. The MoneyGram xpress service allows customers to purchase in-lane, a pre-paid money transfer package in a predetermined and defined dollar amount. These packages can then be redeemed online at moneygram.com/xpress or by phone at 1-800-987-9859 to complete the money transfer. Recipients of transfers originated via the MoneyGram xpress service can pick up their funds at any MoneyGram agent location that offers money transfer services.

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Western Union Inks MidFlorida FCU

The Western Union Company (WU), a leader in global payments, and MidFlorida Credit Union announced an agreement to offer consumers Western Union global money-transfer and expedited bill payment services across MidFlorida’s network of more than 30 branches. Through the agreement with Western Union, MIDFLORIDA Credit Union members will have the ability to send and receive domestic or international money transfers with funds accessible for pay out at more than 500,000 Western Union Agent locations in more than 200 countries and territories, and make urgent payments conveniently and quickly to an extensive biller network.

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PNC Bank Over 1 Million Virtual Wallet Accounts

PNC Bank announced that its Virtual Wallet® product has surpassed one million accounts in the latest example of success for the online and mobile banking tool. PNC continues to add new and innovative features to Virtual Wallet. Since 2008, it has updated or enhanced the product nearly 40 times. Last summer, it introduced the popular mobile deposit feature that allows customers to deposit checks using the camera on their smartphone. Virtual Wallet is a visual online banking tool that combines a traditional checking account with long-term and short-term savings accounts. The product is designed to help customers save and spend smarter, and avoid unnecessary fees. Since its launch in 2008, it has quickly become PNC’s flagship retail account.

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Fiserv Launches Check Capture & Processing

Fiserv, a leading global provider of financial services technology solutions, announced the launch of Central Source Capture, a web-based, end-to-end check capture and processing solution. With Central Source Capture from Fiserv, financial institutions are able to scale their check processing solution to meet demand while also capturing check images and data and routing each item for posting or distribution based on rules established by the institution. Designed for use by large financial institutions, Central Source Capture automates all aspects of the item processing operation including capture, data perfection, electronic cash lettering, clearing, settlement and outputs to posting and image archive. This reduces the need for specialized resources to manage the movement of paper checks. Additionally, Central Source Capture integrates seamlessly with core account processing systems and remote capture applications to provide an end-to-end image exchange workflow regardless of the point of capture.

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TIO Launches First Mobile App to Pay Multiple Bills

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TIO Networks, North America’s expedited bill payment company, announced the launch of TIO MobilePay, the first mobile app that allows Americans to pay multiple bills via VISA or MasterCard branded payment cards in real time. iPhone, iPad and Android users can choose to pay more than 6,000 billers via, credit or…

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PayAnywhere and Origami Owl Partner

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] PayAnywhere (www.payanywhere.com), a leader in mobile point-of-sale solutions, announced that it has teamed up with Origami Owl (www.origamiowl.com), a social-selling jewelry business, to bring the ease of mobile credit card processing to independent Origami Owl Designers nationwide. With the ability to set up customized inventory and track transaction analytics, PayAnywhere’s free…

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Discover Launches Home Loans Business

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover begins originating mortgages with its launch of Discover Home Loans, a new source for consumers seeking prime variable- and fixed-rate conventional and FHA loans from a trusted name in the financial services industry. The launch marks Discover’s entry into the mortgage origination business with a product to complement the company’s…

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LightSpeed mPOS Raises $30mm investment

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] LightSpeed, a leading software company that helps retailers revolutionize in-store shopping, announced today the closing of a US $30 million Series A investment from Accel Partners. The funding represents the first institutional investment in the Company’s history and will be used to further bolster LightSpeed’s rapidly growing team, enhance its product…

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Euronet Pakistan First Third Party Processor For MasterCard

Euronet Pakistan, a subsidiary of Euronet Worldwide, announced its registration with MasterCard as the first third party processor in Pakistan for debit, credit and e-commerce transactions. Euronet continues to advance payment processing in Pakistan and surrounding countries, by providing convenient and secure financial solutions to the banking sector. MasterCard is a leader of the world’s payments industry, drawing upon a remarkable heritage of success and innovation with its network in more than 210 countries around the globe. The MasterCard registration reflects Euronet’s commitment to deliver comprehensive payment and transaction processing solutions through its expanding gateway services. This new partnership allows Euronet Pakistan to provide switching of bank card transactions between MasterCard and the bank host, preparation of files for electronic posting to the bank host, processing of chargebacks and settlement files.

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Bankruptcy Filings Drop 11% Y/Y, Up 0.4% M/M

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Total bankruptcy filings were down by 11% in May to 109,392 from the 122,836 filings registered in the year ago period. Personal filings, however, were up 0.4% from the the April total of 103,738 to 108,908 while commercial filings were up by 2% to 5,170 in May. The average nationwide per…

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First Data Reports Steady Same Store Transaction Growth Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data released its First Data “SpendTrend” analysis for the full month of May 2012 compared to May 2011. This tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations. May’s same-store dollar volume growth increased 7.0% year-over-year, up from April’s growth of…

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NCR Deploys Wireless ATM Withdrawals in under 10 Seconds

NCR launched its “NCR Mobile Cash Withdrawal” software to allow consumers to initiate cash withdrawals from their banking accounts on mobile devices and then complete those transactions at an ATM by scanning a 2D barcode. This makes ATM transactions faster and more secure by removing cards and PINs from the process at the ATM and takes less than 10 seconds. Consumers will authenticate through their existing mobile banking application and pre-stage the transaction via an embedded NCR Mobile Cash Withdrawal function. Consumers can use any iOS or Android smart phone at any location and at any time – whether at work, on the metro or while in line at the ATM – and then choose the amount of their transaction. Once at their bank’s ATM, the consumer will use the embedded functionality to scan the 2D barcode on any participating ATM’s home screen, and the pre-staged cash transaction will be authorized and funds dispensed. (View a demo of the solution on NCR.com.)

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