eGift Cards Boost Mother’s Day Sales

CashStar gifting and incentives company shared eGift Card sales trends across more than 100 leading retail brands from the 2011 Mother’s Day holiday period (May 2-8). Based on aggregated data from consumers making purchases across the CashStar platform, personalized eGift Cards once again proved to drive major sales spikes during holiday shopping seasons. Key Sales Statistics for the 2011 Mother’s Day Season show eGift Card sales increased 123% between Monday, May 2 and Mother’s Day, May 8 (as compared to the week prior); Saturday, May 7 was the biggest selling day in terms of monetary value, representing an increase of 434% (as compared to the day before Mother’s Day in 2010); and Mother’s Day sales figures were up 453% year-over-year, and the number of individual cards sold that day was up 434%.

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Western Union Expands Business Solutions

The Western Union Company global payment services is set to expand its international business payments service in the Philippines, in partnership with Petnet. Petnet will offer Western Union Business Solutions across the Country, which includes cross-border business payments and foreign exchange solutions to small and medium sized businesses (SMEs). By adding Western Union Business Solutions to its product portfolio, Petnet can offer SMEs service delivery for global business payments at competitive exchange rates, to over 200 countries and territories.

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Denarii Systems Names New Chief Executive Officer

Juan Santaella has been named Denarii Systems’ CEO. Santaella was the Director of Debit Products for MasterCard’s Latin America and Caribbean Region (LAC) and has extensive experience in the stored value space, having served as Vice President of Business Development with the former WildCard Systems, a prepaid processor now part of Fidelity National Information Services. He was also the CEO of CashX, had an accomplishing career at Visa International, where he led the Latin America regional debit and prepaid development efforts, launching Visa Electron, and other pre-paid products, such as Visa Cash and Visa Travel Money. He holds an MBA at Babson College, and is a graduate of the University of Miami.

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Unemployment & Credit Outstanding Jump, Dark Cloud Hangs

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.4 trillion in outstanding US consumer debt, total outstanding revolving credit edged up for the first time this year by 2.9% to total $796.1 billion. This was strikingly coincidental with the seasonally adjusted unemployment rate in April, which was up for the first time since November to 9.0%…

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USA Technologies Revenue Up 50% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies 1Q/11 (Fiscal 3Q) revenue was up 50% to $5.5 million from $3.7 million. Meanwhile revenue from recurring license and transaction fees increased 79% to $4.3 million compared to $2.4 million for the quarter a year ago. This is due in some part to the Company having increased the number…

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Verifone Launches Intelligent Checkout System

VeriFone Systems introduced “PAYMEDIA Solutions” subscription-based payment solutions for small to medium-sized merchants for deployment in June. Giving access to payment-enabled media at the checkout counter, including the integration of online services such as digital couponing, loyalty, location-based social media and value-added services, “PAYMEDIA” allows ISOs, acquirers and other resellers to equip merchants with a true “intelligent checkout” capability that integrates traditional payment with discounts, rewards and coupons. It builds on VeriFone’s “PAYware Connect” intelligent gateway services to integrate traditional payment authorization with non-traditional payment-enabled media and services that accommodate consumer mobile phones. VeriShield Total Protect, Secured by RSA, provides an end-to-end encryption and tokenization solution to alleviate PCI compliance issues.

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American Express to Sell Gift Cards in U.S. Post Offices

American Express will begin selling Gift Cards in more than 1,800 U.S. Post Offices as part of a pilot test beginning in June, the first time Gift Cards are being sold in U.S. Post Offices. The American Express Gift Card will be available in multiple designs in the $25, $50 and variable load denominations, allowing denominations of between $25-100 for a cost of from $3.95 to $5.95. They cost no fees after purchase, no fees for activation, no fees for checking a balance, no fees for monthly servicing, no fees for card replacement, and the funds on the cards never expire, so there are no dormancy fees and can be redeemed at U.S. retailers and restaurants that accept American Express Cards.

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First Data Executive Committee Appoints New VP

Mark Herrington has been appointed First Data executive vice president, Global Product Management and Innovation and is now a member of the company’s Executive Committee. Herrington has been leading Global Product Management and Innovation at First Data since early 2011 when the company consolidated its product groups into one globally aligned organization. He already served in numerous leadership roles as First Data, including general manager of the company’s former Retail Solutions division with responsibility for overall P&L performance within this line of business, which included prepaid, TeleCheck, eCommerce and merchant loyalty after having co-founded Money Network in 2001. Prior to Money Network, he was executive vice president of the Americas for i2 Technologies, a Dallas-based enterprise software provider.

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Intuit GoPayment Launches mNFC Payments

Intuit has developed a concept demo for its GoPayment mobile credit card processing application using NFC at the Google I/O developer conference in San Francisco on May 10-11. Built on Google’s Android mobile platform and using NFC technology with Nexus S by Google, Intuit has transformed its existing GoPayment mobile credit card processing application into one that transfers credit card data via radio waves, eliminating the need for the actual card or any add-on card reader hardware. The GoPayment NFC application adding inventory to completing a sale. To add an item to inventory, a small business owner would simply tap their phone against a product with a smart tag. All information on that product would then appear in the mobile payment application. Customers could also pay for products using a virtual debit card residing on their phone. To complete the purchase, the customer and small business owner would simply touch their phones together, eliminating the need to swipe a credit card. Plus, no actual credit card information is exposed during the transaction further protecting this sensitive data.

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Payment Alliance International & MagTek Deploy Cardless ATM Transactions

Payment Alliance International (PAI) electronic payment processing solutions and MagTek secure mobile payments technology partnered to launch the MagTek “Qwick Codes” across PAI’s nationwide network of over 50,000 ATM machines. The “Qwick Codes” solution provides a revolutionary new way to pay for goods and services at stores and online or to access cash from ATMs, without compromising sensitive payment information or consumer identity. PAI’s integration of Qwick Codes into its nationwide ATM network signifies a major leap forward in the quest for a secure Mobile Wallet solution that consumers can use everywhere without actually carrying a payment card. Payment Alliance International offers credit card, check processing, ATM network management, and business information services, all designed to maximize customer success and make business easy.

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iovation Presents Top Methods for Detecting High Risk Transactions

iovation Device Reputation Authority protecting online businesses from fraud and abuse is set to present at the CUTech Spring Forum on the latest innovative cyber fraud prevention methods. iovation has protected over 5 billion transactions worldwide from fraud and abuse such as identity theft, credit card fraud, ACH or debit fraud, account takeovers and credit application fraud. As with other financial services customers, credit unions can leverage iovation’s fraud detection service to assess risk in real-time by checking the reputation of the device (computer, tablet or smartphone) being used to interact with the Credit Union’s website.

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Malauzai Launches Next Generation Mobile Banking Platform Conference Call

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Malauzai Software: WHAT: Austin, Texas-based, Malauzai Software, a provider of next generation mobile banking applications, is holding a conference call to officially launch the company and introduce its user-driven, “Cool SmartApps” based mobile banking platform. Leveraging a powerful, end-user focused platform, Malauzai develops and delivers “Cool SmartApps” for community financial organizations.…

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