KBC Bank Joins MyBank

KBC is joining MyBank and will offer this Europe-wide payment method to their retail and corporate customers from spring 2015 on.The MyBank button redirects internet shoppers to their online or mobile banking platform, where they can pay by confirming a SEPA Credit Transfer order that already has all the details filled in. KBC will also roll out MyBank Mandates, a solution that will allow customers to authorise electronic mandates for the payment of recurrent bills or online purchases via SEPA Direct Debits. Merchants and public authorities across Europe will be able to replace paper mandates with this efficient new solution. Moving to an electronic process that informs the bank of the debtor about the signing of a mandate in real-time reduces costs and the time required to collect funds.MyBank is currently available to over 12 million retail customers in Italy, France and Luxembourg and supports the initiation of SEPA Credit Transfers via online or mobile banking. From October 2014 on, the solution will also enable customers to create, modify and cancel electronic mandates for direct debits.

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Visa invests in LoopPay

LoopPay announced that it has received an investment from Visa, part of a larger strategic funding round for LoopPay. LoopPay invented Magnetic Secure Transmission™ (MST) technology which leverages existing point-of-sale infrastructure to receive contactless payments from mobile devices of all kinds with no hardware changes required by merchants. MST aims to reduce reliance on magnetic stripes to store and transmit cardholder data, and instead uses a secure chip to store and transmit data to existing POS terminals via a small low-cost inductive loop that could be embedded in a variety of devices, including smartphones.LoopPay will also work with card issuers and app developers through its SDK to leverage its platform to enhance consumer commerce experiences via mobile. It also has its own LoopPay app, LoopWallet, to help users store and organize all their payment cards, membership cards, ID cards and rewards cards, helping users carry fewer plastic cards with more convenience and better security than traditional physical wallets.

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MoneyGram Appoints Two Top Execs

MoneyGram announces its appointment of execs in two strategic growth areas. Yogesh Sangle has joined MoneyGram as senior regional director for Asia, and Andrew Typrin joins as the company’s vice president of the global MoneyGram Online business.Sangle has more than 15 years of experience in banking and payments solutions in online payments, digital marketing, and sales and product management. Typrin previously supported Amazon’s global expansion and led strategy development and execution for payments acceptance. He formerly founded a consumer payments company, National Payment Network, gaining extensive experience in building and executing new business ventures. Typrin will lead the expansion of MoneyGram Online, focused on building an exceptional and innovative online customer experience.

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Square Integrates Automation Solution

Square launched an integration with IFTTT (If This Then That). Sellers can now seamlessly integrate their Square data with IFTTT to trigger customized automated actions that streamline business operations and help their day run more smoothly.The IFTTT service enables anyone to create powerful connections with one simple statement: if this then that. Sellers can link their Square account to IFTTT and create custom “recipes” that integrate their Square payment, refund, and settlement data with other products and services like SMS, Google Drive, Twitter, or email. For example, if a Square business makes a big sale then a congratulatory email could be sent to employees automatically via IFTTT. Likewise, if a large refund occurs at a store, the manager can use IFTTT to set up a text alert to follow up with the customer.

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