SelectCore prepaid payment and transaction processor has appointed Bryan Kenyon as Senior Advisor to the Company. An early-stage executive having served as the Director of Financial Planning and Analysis for Green Dot Corporation (GDOT), Bryan held senior-level finance management and analyst positions at Fluor Corporation. He is also a partner in two investment funds and a private investor in several manufacturing, telecommunications and financial services companies. Bryan serves as the current chairman of Trycera Corporation, a Company targeting under-banked consumers. Kenyon holds an MBA from the Graziadio School of Business and Management at Pepperdine University and a BA in business administration/finance from California State University at Fullerton.Details
Lloyds TSB improved its rewards offerings to new customers with one Airmile for every GBP1 spent through American Express usage on its Airmiles Duo Credit Card Account, plus an additional 1,500 Airmiles for new customers completing a one-off GBP1,500 balance transfer. This promotional means new customers could collect a potential 3000 Airmiles for the next 6 weeks, beginning March 30th. Customers can use their Airmiles on flights to over 250 worldwide destinations, as well as a variety of other activities, including trips to hotel accommodation, Eurostar breaks, Legoland Windsor, UK country cottages, and spa and golf breaks. 3,000 Airmiles is equivalent to a pamper day for two or return flights from London to Barcelona. In conjunction, Lloyds TSB has launched a new online Airmiles Duo Rewards Hub, designed to help customers make the most of their Lloyds TSB Airmiles Duo Credit Card Account and boost their Airmiles balance.Details
The Spanish subsidiary of the German multinational Giesecke & Devrient (G&D) has been chosen by Telefónica as its technological partner to carry out the first NFC mobile phone project providing multiple applications inside a business complex. A group of users composed of Telefónica employees and clients of the participating banking entities will receive a Samsung mobile phone with NFC technology, allowing them to make payments in shops, restaurants, and cafés simply by bringing the handset close to the POS reader. Telefónica employees will be able to access the company buildings in Distrito C in Madrid by tapping their mobiles close to the access control reader. For this, G&D has developed a USIM card based on Java technology, capable of housing different applications and suitable for any NFC handset, incorporating VISA’s payment application and an SWP (Single Wire Protocol) interface which permits communication with the mobile device’s NFC chip and with the POS device.Details
Norddeutsche Landesbank Girozentrale (Nord/LB) has installed 200 Wincor Nixdorf Cineo terminals, across 110 bank branches as part of a hardware upgrade that will support with the modernization of how account information is providing to customers. With the majority installed in branches of “Braunschweigische Landessparkasse”, a subsidiary of Nord/LB, Wincor Nixdorf will also be responsible for maintaining the devices. Wincor Nixdorf was awarded the contract after comprehensive tests and comparison of other self-service providers, for which it will deploy its “CINEO T2000” terminals stood, offering user-friendly design for customers and staff and the systems ability to print at higher speeds.Details
Fintrax and YESpay International have now partnered to offer a truly integrated DCC (Dynamic Currency Conversion) and Tax Free Shopping service to high street merchants. YESpay’s EMBOSS managed payment service enables merchants to process EMV Chip & PIN and magnetic credit and debit card payments within seconds. This proposition in fact relieves merchants from deploying and maintaining an in-house payment solution as well as undergoing formal end-to-end bank testing and managing PCI-DSS compliance. EMBOSS now supports truly integrated DCC and Tax Free functionality. EMBOSS is generically pre-accredited with all major Acquirers in the UK, Europe and North America while it supports all major EMV credit and debit cards, including Visa, MasterCard, Interac, Maestro, Amex, Diners and more.Details
With unemployment down in February to 8.9% from 9.0% in January, having fallen 0.9% since November 2010, and the U.S. consumer credit charge-offs declining for the fifth consecutive month of improvement by another 32 basis points (bps) to 8.05%, the Conference Board’s Leading Economic Index for the U.S. increased 0.8% in February to 113.4, following…Details
Global Axcess self-service kiosk solutions released its 4Q/10 and FY/10 fiscals posting positive, year-over-year gains in both regards. The Company reported consolidated revenues of $6.1 million for 4Q/10, compared to $5.4 million for the 4Q/09, for a 12.6% increase. This was thanks in great part to $790,000 of DVD rental revenue for the fourth quarter of 2010 compared to approximately $33,000 in the year-ago period. Gross profit was $2.0 million, or 33.7% gross margin, for the fourth quarter ended December 31, 2010, compared to gross profit of $2.5 million, or 47% gross margin, for the same period of 2009. Meanwhile, for the fiscal year 2010 Global Axcess total revenue was $22.7 million, an increase of 5.8%, compared to $21.5 million for the same period of 2009. Gross profit for the fiscal year ended December 31, 2010 was $9.4 million, or 41.3% gross margin, compared to $10.2 million, reflecting a gross margin of 47.4% for the comparable 2009 period.
Subsequent to these figures, 1Q/11 surcharge transactions are expected to be 8% above 4Q/10 surcharge transactions, thanks in part to having increased ATM surcharge fees to select ATMs. The average surcharge fees per company-owned ATM after the increase was $2.80 per surcharged transaction compared to $2.58 prior to the increase. Meanwhile, total DVD services revenue in 1Q/11 is expected to be a 52% increase over total fiscal year 2010 revenues in the DVD services business while total ATM services revenue for the 1Q/11 is expected to be the highest quarterly revenue the Company has reported for its ATM services business.
Citi’s Global Transaction Services is joining the Syncada from Visa network. Providing Citi clients a specialized solution for managing transportation accounts payable, the partnership will offer increased efficiency with transparency, flexibility and greater control. The Syncada Network processes invoices, makes payments, and facilitates the financing of payables through a network of financial institutions. Through specialized audits, Syncada addresses the complex audit needs requirement to manage transportation payments. Inefficient manual invoicing and approval processes can extend processing times and increase processing costs, causing late payments and poor financial visibility”a major pain point for corporate and government clients.Citi can offer their clients a series of financing programs via Syncada to better manage their cash flows.Details
3i Infotech global information technology and business process outsourcing (BPO) company has forged agreements with Zumbox digital postal mail services, allowing 3i Infotech clients to send electronic bills and other customer communications via Zumbox. Among other valuable benefits, the partnership will assist 3i Infotech clients in driving electronic bill adoption, promoting print suppression and cutting costs. Especially for utilities, insurance, financial services companies and others who need to accommodate changing preferences in how customers choose to receive and pay their bills, the partnership is part of 3i Infotech’s expansion of its electronic billing and payment services. Zumbox archives and presents mail to consumers in a secure, central online environment, instead of on paper. Zumbox has created a digital mailbox for every street address in the United States, connecting large transactional, financial and government mailers to consumer households for the protected, on-time delivery of postal mail online.Details
Jack Henry & Associates has officially kicked off its “My NetTeller,” solution, allowing accountholders to create customized dashboard-style landing pages of their most commonly used online banking functions. The company also provided an update on its ongoing success with “OurCashFlow” online financial management (OFM) solution that is fully integrated with NetTeller Online Banking platform. With “My NetTeller” accountholders can customize their online banking environment by selecting the functionality they want to see when they log in. They just drag and drop widgets to create a dashboard-style view of online banking features such as funds transfers, electronic bill payments, and transaction downloads. The ability to place frequently used functions in a more accessible and obvious location simplifies site navigation and makes the online banking experience more efficient, convenient, and intuitive for each user. Meanwhile, the “OurCashFlow” online financial management (OFM) solution available through Jack Henry & Associates’ strategic partnership with Lodo Software transforms financial institutions’ websites into financial management hubs that enable consumers and small businesses to access and manage their finances in consolidated, easy-to-use dashboards. It automatically categorizes financial transactions; supports internal and external account aggregation; tracks budgets, spending habits, and savings goals; and generates user-defined alerts.Details
Laru is set to showcase its “ACH Vision RDFI” at NACHA’s Payments 2011 conference in Austin, following up on its recently released “ACH Vision ODFI” product targeted at originators and originating DFIs. By leveraging the knowledge from past transactions and application of Laru’s proprietary business intelligence methodology, ACH Vision RDFI will automatically alert RDFI personnel to transaction anomalies, so they can take appropriate action a priori and protect the bank and its customers. ACH Vision RDFI works with Laru’s other products, ACH Clarity and ACH FileFox and fits in line with the financial institution’s ACH processing pipeline.Details
Lecere Corporation, a software as a service (SaaS) development company, has joined with TekTango to integrate the iPay Mobile Point of Sale payment processing application with their flagship FIRMS restaurant management software. The two companies have partnered, allowing Lecere to focus on providing a fully-integrated, internet-based restaurant management system leveraging iPay Mobile Point of Sale to provide secure table-side credit card processing, tip and signature capture using mobile devices.Details