Swiff launched a new mobile payment service with AEON Thana Sinsap (Thailand) Public Company Ltd. and McDonald’s for McDelivery 1711. With this new mobile Point of Sale (mPOS) solution, McDelivery 1711 allows their customers to pay by credit card using mobile devices from wherever they make their orders. This is the first time in Thailand for a global quick service restaurant chain to use mPOS when they deliver the orders to customers’ doorstep.Details
PagSeguro a leading provider of online and mobile payment solutions for the Brazilian market, has released a credit and debit card chip reader for cell phones and tablets. The PagSeguro credit and debit card chip and PIN reader is secure and easy to use, without any monthly fees or upfront payments. It is especially suited to the Brazilian market, where most credit and debit cards feature EMV chips.Details
Itonis, Inc. today announced that it has signed a Licensing Agreement with MyECheck, Inc. for Itonis to acquire a software license for MyECheck’s patented mobile payment app that will facilitate point of purchase transactions for medical marijuana, gambling, and general retail sales. There is no expiration date on that license. The license agreement calls for Itonis to pay a one-time licensing fee to MyECheck as well as a portion of the per-transaction fees collected at the point of sale.Details
Fiserv announced the International Bank of Qatar (IBQ) selected its Financial Crime Risk Management (FCRM) Platform to manage its money-laundering and fraud prevention strategy. For IBQ, the vast global experience of Fiserv in mitigating risk related to financial crime was a key factor in the selection. With more than 1,000 financial institutions already using the FCRM Platform worldwide, this knowledge and experience is a vital component of the partnership to help the bank achieve the highest standards of anti-money laundering (AML) compliance and fraud prevention. The FCRM Platform provides unique abilities for financial crime professionals to effectively and efficiently model, detect, investigate and resolve risks across crimes, channels and product lines.Details
With the total outstanding revolving US consumer credit down 0.3% in January from last year to an adjusted $856B from $846B, any positive momentum achieved in 2013 is a fading memory, and its bleeding into 2014. Continuing to grow, January revolving credit outstanding is still not as high as the 2008 figure of $1trillion and…Details
American Express announced its approved plan as part of the 2014 Comprehensive Capital Analysis and Review (CCAR). It included increasing the Company’s quarterly dividend to 26 cents per share beginning with the second quarter 2014 dividend declaration, subject to approval by the Company’s board of directors; repurchasing up to $4.4 billion of common shares during…Details
VeriFone Systems announced that Richard A. McGinn will leave the board and be replaced by long-time retail and consumer financial services veteran Jane J. Thompson, effective immediately. Thompson has successfully led multi-billion dollar organizations in the financial services, home services, retail, and ecommerce industries. She served at the executive level of Fortune 50 organizations for more than two decades. Most recently, as a strategic consultant, Thompson helped drive strategy and growth for large corporations as well as small, fast-growth businesses. She is the former president of Walmart Financial Services and former executive vice president of Sears Credit and Home Services. Thompson has also served as partner at McKinsey & Co., and in brand management and marketing at Procter & Gamble. She is a member of the board for The Fresh Market and former board member of ConAgra Foods.Details
Universal Studios and American Express announced an expanded multi-year agreement that brings the strength of Universal’s theme parks and filmed entertainment together with its brand to create exclusive consumer benefits and experiences. Also allowing AmEx to acquire new Card Members directly through Universal theme parks and websites, this expanded partnership presents new and innovative marketing opportunities for both companies. The partnership will now include marketing opportunities that leverage Universal Pictures’ retail partners, consumer licensing and digital media platforms on a global basis. The partnership will continue to set the stage for ongoing offers and promotions for anyone holding an American Express Card, ranging from discounts at the theme parks to special once-in-a-lifetime entertainment experiences.Details
Merchant Warehouse payment technologies acquired Opticard provider of gift and loyalty programs for organizations worldwide. Merchant Warehouse will now offer deeper mobile and digital engagement opportunities for small and mid-sized businesses through an expanded suite of gift, loyalty and prepaid programs. For nearly 20 years, Opticard has offers solution processing for merchants, ranging from small businesses to Fortune 500 companies, completing more than 20 million transactions annually. Its prepaid offerings, including both gift card and loyalty programs, are designed to meet the unique needs of every retailer, enabling them to build lasting relationships with their customers, while simultaneously encouraging them to return and spend more. Through this acquisition, Merchant Warehouse will continue to invest in the Opticard platform to advance the suite of service offerings to both new and existing resellers and retail customers. Opticard employees will join the Merchant Warehouse team, will continue to invest in Opticard’s solutions, offerings and infrastructure, enabling continuous improvement and growth.Details
MoneyGram signed a global agreement with BICS to connect to HomeSend. HomeSend, a strategic business partnership between BICS and eServGlobal , is a global technology hub service that enables person-to-person fund transfers. Through the technology of the HomeSend hub, MoneyGram customers in more than 200 countries will be able remit funds to mobile accounts of HomeSend hub members across the globe. MoneyGram has 336,000 agent locations worldwide and also offers money transfer services through kiosks, along with online, mobile, and other channels. The agreement will enable MoneyGram customers and agents to further connect to HomeSend’s substantial network, which includes some of the largest tier one mobile operator groups. Today HomeSend has live deployments in more than 50 countries and commercial contracts with mobile network operators (MNOs) and money transfer operators (MTOs).Details
TSYS today announced that it has reached a long-term agreement to provide consumer credit processing services along with value- added capabilities for Virgin Money customers within the United Kingdom. Virgin Money selected TSYS’ market leading TS2® platform to support its UK cards portfolio. TSYS will provide a flexible and reliable card processing solution for Virgin Money with value- added capabilities being provided through various partners, including TSYS Managed Services EMEA.Details
Interac Association reported that Interac debit card fraud losses as a result of skimming are at a record low – decreasing to $29.5 million in 2013 from a high of $142 million in 2009.
Only 25% of losses in 2013, or $7.3 million , are the result of fraud exploitation. Total losses in 2013 represent 0.0093% of domestic Interac debit card volume (0.93 basis points) and the lowest volume of recorded fraud losses. As a result of this significant decline in fraud exploitation, the number of cardholders reimbursed by financial institutions fell to 72,200 in 2013 from 238,000 in 2009. Cardholders are protected from losses under the Interac Zero Liability Policy*. Criminals are increasingly migrating their payment card fraud activity to international exploitation in non-chip environments and card-not-present exploitation on credit cards and other networks’ debit products. Interac rules offer account holders the added protections of not allowing card-not-present, offline and signature transactions. Chip technology enables advancements like Interac Flash®, which is currently being rolled out across the country.