Fiserv financial services technology solutions has ranked 491 on the 2010 FORTUNE 500, an annual ranking of all U.S. companies by revenue. This marks the fourth consecutive year that Fiserv placed on the FORTUNE 500. Additionally, nearly one in four companies named in the Fortune 500 are Fiserv clients. This ranking follows the March 22 issue of FORTUNE in which Fiserv ranked fifth of the Worldâs Most Admired Companies in the Financial Data Services category for the second year in a row. It is based on votes from businesspeople, based on the companies that they admire most. Fiserv electronic commerce systems for the financial services celebrated its 25th year in 2009.Details
Dresser Wayne fuel dispenser technologies has announced its 11,000th installation of the “Nucleus” POS, available on the retail-hardened IBM platform. Available for installation with Dresser Wayne, Gilbarco and other dispensers, “Nucleus” POS is designed specifically to endure the daily rigors of the busy C-store environment. The touch screen enables fast, accurate transactions allowing retailers to serve their customers efficiently. The system has been certified as PCI compliant providing retailers the peace of mind that they are PCI compliant, now and in the future. More than 25 percent of all Nucleus POS systems installed today interface with non-Dresser Wayne dispensers.Details
TX-based Mobile technology developer C$ cMoney has acquired majority stock ownership of Bonfire Productions, Inc. The previously announced intention of C$ cMoney to merge with Bonfire is currently pending. Bonfire will continue to be a legally independent and publicly listed stock corporation until such time as the merger is complete.
C$ cMoney has developed a new and innovative way to send money and pay for goods and services using a cell phone. The mobile application, scheduled to launch this summer, will enable consumers to download and use it with virtually any mobile device, and will eliminate identity and credit card theft. Terms of the transaction were not disclosed.
Mobile payment solution provider Mobibucks reports a significant increase in demand for its products in the last six months in the Middle East and North Africa (MENA) region. Mobibucks offers unique payment and incentive products for making purchases using a mobile phone number. Mobibucks is a patented cashless, cardless, and contactless solution that targets everyday purchases made by consumers looking for the convenience of virtual payments and by merchants looking to attract the millennium generation utilizing a mobile commerce offering. It allows banks to provide customers convenient and affordable access to their money from any mobile phone. Some of Mobibucks key features include:secure and instant opening of accounts; cost effective marketing; conversion of cash into electronic payments with a cell phone without the cell phone present;no need for consumers to purchase a new cell phone or merchants to set up a new payment system; builds loyalty to business or brand and limitation of critical issues such as cell phones running out of power or operating in unsafe or unreliable conditions.Details
RTG Ventures has announced a joint venture with London-based International Financial Systems Limited (IFS) that will develop and roll out the iPayu mobile payments technology. IFS invented the iPayu platform and RTG Ventures had an existing agreement to license the technology to roll out and embed into its portfolio of products. This agreement sees both sides making a larger commitment to support continuing development of the intellectual property rights and enables the new joint venture to exploit opportunities faster. The joint venture will officially launch on May 31st and will combine the technical, banking and payments expertise of IFS with the sales, marketing and operations muscle of RTG Ventures. IFS provide core banking, Internet banking, mobile phone banking and compliance solutions. RTGV is targeting niche markets in the areas of Web-TV with embedded internet and mobile payment solutions.Details
Terrance R. Dolan has been appointed as vice chairman of Wealth Management and Securities Services while Jeffry H. von Gillern has been appointed as vice chairman of Technology and Operations Services for U.S. Bancorp. Dolan is currently executive vice president and controller of U.S. Bancorp where he has been for 11 years while Von Gillern is currently chief information officer of U.S. Bancorp, where he has been for nine years. Dolan and von Gillern will join the U.S. Bancorp managing committee, which consists of the 14 most senior executives in the company. Dolan has a bachelor’s of arts degree in accounting from the University of St. Thomas and is a CPA and Von Gillern has a bachelor’s of science degree from the University of Arizona.Details
The National Retail Federation is urging the Vermont legislature to
give final approval to legislation that would address credit card
âswipeâ fees. The NRF insists merchants should be able to give a discount to
customers who pay by cash, check or debit card. If enacted, the bill
would allow Vermont retailers to set both minimum and maximum credit
card purchases without interference from Visa and MasterCard banks,
which currently bar the practice in their contracts with merchants. The
two companies would also be prohibited from dictating how merchants
price items or blocking a merchant from giving a discount for cash,
checks, debit cards or credit cards with lower-than-usual swipe fees.
Visa and MasterCard also could not force a retailer to accept cards at
all store locations if the retailer only wanted to accept them at one
location. Officially known as interchange, swipe fees average about 2
percent of the purchase price and are charged to merchants by Visa and
MasterCard banks each time one of their cards is swiped to pay for a
purchase. Collections totaled $48 billion nationwide in 2008, triple the
$16 billion collected when NRF began tracking the fees in 2001.
The bill is based in part on the Credit Card Interchange Act, federal
legislation addressing fees charged to merchants sponsored by U.S.
Representative Peter Welch, D-Vt., that is awaiting action in Washington.
The Western Union Company has signed an agreement with a major distribution network wit C-store chain Martin McColl. The agreement with Martin McColl represents an excellent opportunity for Western Union to expand its distribution network in the U.K., adding 700 new locations to the existing network of more than 11,000 Agent locations, consisting mainly of high-street retailers and banks and represents a significant step in Western Union’s strategy to expand its network, diversify its customer base, attract mainstream customers to its money transfer service and promote such relatively new services as European and domestic money transfers. As of September 2010, Western Union national and international money transfer services will be offered at 700 Martin McColl stores throughout the country.Details
Layaway is re-emerging
in popularity with more than 73% of consumers stating that they
believe using layaway more often is a smart financial solution that can
help them better manage their spending. The current economic climate has stimulated consumer interest in
layaway, but today’s shoppers have realized layaway is more than a
recession-inspired tool, with 55.5% of consumers surveyed confirmed
they are interested in learning more about layaway as a year-round
financial planning tool. Consumers are looking for
smarter tools in money-management with 82.2% agreeing
that they would rather forgo the instant gratification of financing
their purchases in favor of using layaway. Retailer Kmart reported that its layaway program has experienced
double-digit growth since 2008 and the layaway program at Kmart
and at its sister company Sears has resulted in more than three million
new customer relationships in 2008 and 2009.
Based on TazTagâs “TazCard,” INSIDE Contactless, Sagem Orga and TazTag have partnered for the development of pre-alpha testing for NFC contactless payment with full NFC functionality on other applications. About the size of an ordinary credit card, the “TazCard” Java-based handheld device is capable of supporting a variety of NFC applications and has been facilitated with INSIDEâs Java-based test payment application. This all on a Single Wire Protocol (SWP)-enabled SIM card developed by Sagem Orga, which is connected to the INSIDE MicroRead NFC controller built into the TazCard. The TazCard also utilizes INSIDEâs Open NFCâ¢ protocol stack. With its 3.5-inch color touch screen, the TazCard is able to provide the user with a full NFC experience for payment and other NFC transactions. INSIDEâs third-generation MicroRead NFC chip provides the most mature NFC implementation.Details
A new study forecasts that nearly half of all mobile phone users worldwide will pay by mobile for digital and physical goods by 2014, representing growth of nearly a billion users compared to 2010. The new “Mobile Payments for Digital and Physical Goods” by Jupiter Research reports found that segments such as ticketing and payments for physical goods are being spurred by the phenomenal take-up of apps coupled with the availability of multi-lingual versions of platforms such as eBay. Mobile payments are now becoming integrated into a wider mobile web shopping experience that includes browsing, coupons and advertising. The report uses an innovative new quadrant approach to compare the positioning of mobile payments vendors. The forecasts provide detailed five year regional data for mobile payments for digital & physical goods, showing key parameters including subscriber take-up, transaction sizes and volumes.Details
INSIDE Contactless is making the Open NFC protocol stack more widely
available, placing the full source code and full API documentation on
SourceForge.net for free download. The source code for the core Open NFC
version 3.5 software â including Android, Windows Mobile, Linux and Java
(JSR-257) editions â and API documentation will be available on
SourceForge.net starting May 15. The Open NFC protocol stack brings
proven, high quality, well-documented NFC software into the open source
arena, providing a complete NFC middleware solution for mobile phones,
embedded products and other devices. It benefits device makers, software
developers as well as others in the mobile ecosystem in several ways,
providing greater impetus to implement NFC solutions across a broad
range of consumer products. This move extends INSIDEâs software stack as
the de facto open solution for NFC enablement on mobile devices.