Fiserv financial services technology solutions has launched its “ZashPay” person-to-person (P2P) payments service. Allowing users to send or receive money using their existing online banking accounts, “ZashPay” only requires the recipientâs name and e-mail address or mobile phone number. The payment will be deducted directly from the senderâs banking account and deposited directly into the recipientâs account, utilizing the same secure processes as an online banking transaction. Payments made through ZashPay will be securely processed through the Fiserv industry-leading online payment network, which in 2009 processed 1.35 billion online bill payments for more than 3,100 financial institutions, including most of the largest banks and credit unions in the U.S.Details
Discover has enhanced its rewards redemption experience to offer cardmembers a redesigned redemption site, with access to hundreds of new brand-name merchandise and more redemption options with “Cashback Bonus” rewards. The “Cashback Bonus” program allows cardmembers to earn 5% “Cashback Bonus” in specific categories that change on a regular basis throughout the year, and up to 1% Cashback Bonus on all their purchases. Redemption options will still start as low as $20 for redemption on Partner and Discover gift cards; merchandise; charity donations; direct deposit; and statement credit. Cardmembers can additionally choose a split-pay option on select merchandise, for both “Cashback Bonus” and paying off their remaining Discover or Diners Club cards balances.Details
Cardlytics transaction marketing has been awarded the Red Herring “North America Top 100,” placing it on the list honoring the yearâs most promising 100 private technology ventures from the North American business region. This is in addition to Cardlytics recently being named by the Technology Association of Georgia as a Top 10 Innovative Georgia Technology Company at the recent Georgia Technology Summit. Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumersâ actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day.Details
Servant PC Resources nonprofit software has integrated the Heartland “Check Management” end-to-end check processing platform. Providing remote deposit capture and check management solutions to its clients, “Check Management” allows clients to scan a check from their location using a remote scanner, and the deposit is processed. The client receives automatic notifications and can monitor every step of the deposit 24/7/365 in real-time. At that point, the transactions are posted in “Servant Keeper” format to reconcile all member contributions without manual entry. Additionally, the client can elect to have bad checks handled by Heartlandâs automated recovery program. Heartland “Check Management” is powered by Transmodus network-enabled remote deposit and check management automation.Details
In partnership with American Express, the Alamo Rent A Car and National Car Rental brands have re-launched their “Cash-In Club” loyalty rewards program. Allowing agents to incorporate award points into American Express-branded reward cards, the “Cash-In Club” promotion offers an updated website with more flexible rewards. It is being offered through all U.S.-resident travel agents who book a qualified reservation through October 2010. Program members will also be automatically entered to win every time they reserve a car with Alamo or National, for which the grand prize winner will be awarded 15,000 points, while the second place winner will be awarded 10,000 points and third place wins 5,000 points.Details
Greg Hammermaster, president (SVP) of Sage Payment Solution, is set to
present an education session on merchant card and payment services at
the National Association of Federal Credit Unions’ (NAFCU) 43rd Annual
Conference& Exhibition in Chicago. He will present “Explore Merchant
Card Services for Your Treasury Management Portfolio” to help credit
union attendees learn how to build a quality merchant services program
to attract and service business members.Sage Payment Solutions provides
secure standalone and integrated payment processing solutions to more
than 155,000 merchants. Backed with more than 20 years financial
services experience, Hammermaster has had his hand in sales, business
development, direction of the vision and execution for commercial card
practices, and developing strategic partnerships.
TSYS has been chosen to support Tesco Bankâs credit card business with
full customer account management services using the “TS2” processing
platform. The Tesco Bank credit card portfolio has been processed on
TSYSâ TS2 platform since 2001 through The Royal Bank of Scotland Group
(RBS). Tesco Bank will be transferring to its own version of the TSYS
platform in the second quarter of next year. Tesco Bank has more than
six million customer accounts, currently across 28 products and
services. It is the sixth largest credit card provider in the UK with
2.4 million cards in circulation.
mopay mobile payment solutions has launched its “mopay call” solution. Allowing online merchants to bill purchases directly to consumersâ land line phone accounts, “mopay call” expands mopay’s breadth of offerings in order to sustainably position a widely available and far-reaching alternative payment platform. The company further extends its ability to provide globally available billing solutions that enable the unbanked to pay for goods and services. Selecting “mopay call” during an online check-out process, mopayâs payment screen will prompt the consumer to authorize the purchase through a short, automated call. After authorization, mopay places the charge to the land line phone account and the purchase is completed.Details
Sybase mobile software reported financial results for 2Q/10, with total revenue up 9% year over year from $278.0 to $302.0 million, mobile software license revenue up 12% and messaging revenue up 24%. Operating income GAAP was up 17% year over year to $74.3 million, representing an operating margin of 25% and net income grew 20% year over year to $45.3 million.
In light of the pending tender offer from Sheffield Acquisition to purchase all of Sybase’s common stock for $65 per share, the company will not hold a conference call to discuss the second quarter results. Sybase is proven in the most data-intensive industries and across all systems, networks and devices.
Citigroup reported 2Q/10 net income of $2.7 billion or $0.09 per diluted share, on revenues of $22.1 billion, including Transaction Services with $929 million in net income, for a second consecutive profitable quarter. Provisions for credit losses and for benefits and claims declined $2.0 billion sequentially to $6.7 billion, the lowest level since the third quarter of 2007, reflecting continued improvement in credit quality. This helped increase Regional Consumer Banking’s net income by 16% sequentially to $1.2 billion. Citigroup has been focusing on Transaction Services and Regional Consumer Banking. Regional Consumer Banking (“RCB”) revenues were $8.0 billion, down $50 million, or 1%, sequentially, as declines in North America and EMEA were partially offset by continued growth in Asia and Latin America. Transaction Services revenues were $2.5 billion, up $65 million, or 3%, sequentially, with growth across all international regions. Transaction Services net credit losses were $1 million, flat compared to the prior quarter. The $35 million net loan loss reserve release in the quarter was $17 million higher than the prior quarter’s release. Net credit losses in Local Consumer Lending declined $403 million, or 8%, sequentially to $4.5 billion, mainly driven by Retail Partner Cards.Details
Steve Klebe has been named VP, business development and strategy with BilltoMobile. He will responsible for developing and managing BilltoMobile’s strategic relationships, guiding the company’s long-term strategy and continuing to rapidly expand the company’s online merchant partnerships. Bringing with him over 30 years of experience in sales, business development, creating strategic alliances and product marketing in electronic payments, authentication and fraud prevention, Steve returns to BilltoMobile after being an earlier, integral part of creating the company. He has held senior management roles at VeriFone, CyberSource, Cybercash and, most recently, Vindicia. While at CyberSource, he led the effort to create the original partnership with Visa that led to both an equity investment and a co-developed and branded fraud prevention service.Details
Bank of America has received seven awards from Euromoney magazine through the â2010 Awards for Excellenceâ program. Awards received include; Best Bank in the U.S; Best Debt House in North America; and Best Debt House in Japan. This was due in part thanks to Bank of America efforts to help simplify the financial lives of its customers with transparent solutions for customers. The bank extended more credit than any other bank in the country in both the consumer and commercial sectors throughout the year.Details