USA Tech Comments on Sale Reco

USA Technologies board of directors has received a letter from S.A.V.E. Partners IV, LLC stating that S.A.V.E. believes that USA Technologies should immediately commence a process to explore and evaluate all potential strategic alternatives, including exploring a sale. The letter was also included by S.A.V.E. as an exhibit to a publicly filed amendment to its Schedule 13D. Stephen P. Herbert, chairman and CEO responded: “I want to assure all of our shareholders, including S.A.V.E., that we fully recognize the market dynamics in which our company operates, and that our board of directors has appropriately explored, and continues to appropriately explore, any and all potential strategic alternatives in order to maximize shareholder value.”

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Meritus Chargeback Solutions to Save Merchants Time, Money

Meritus’s Chargeback Management System (CBMS) is an integrated solution that provides the merchant with the information needed to help investigate and more effectively dispute chargebacks. Chargeback Management System is a secure add-on solution that is available through Meritus’ proprietary platform, Payment XP. This intuitive solution continually tracks and updates pending transactions, keeping you up to date and informed throughout the entire chargeback process. All new and existing chargeback cases are instantaneously available, so you can easily understand and prioritize your work. With Chargeback Management System merchants win 30% more of their disputes, resulting in a significant increase in revenue. Additionally, merchants who use CBMS substantially reduce their time spent on chargebacks, spending 40% less time per chargeback.

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Glory Global Streamlines Retail Cash Processes

Glory Global Solutions will attend the National Retail Federation’s Retail Big Show 2014 to be held at the Jacob K. Javits Center in New York, January 13 – 14, 2014. The Glory booth will display a variety of cash management solutions including its award winning CASHINFINITY® Smart Cash Management solutions, the RBG-300 intelligent cash recycler and Quick Change self service coin deposit solution. Together they provide retailers with a wide assortment of productive, efficient and secure cash management systems designed to streamline cash processes. CASHINFINITY®, Glory’s Retail Solution offers iSMART Cash Management solutions that consist of total secure closed cash management, centralized control of cash inventory and optimization of all cash processes throughout a store. Working in conjunction with the retailer’s POS system, CASHINFINITY’s flexible design and innovation easily meets the needs of any store size, business segments and investment plan.

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Ingenico Launch iWE280 POS

Ingenico and PAVO Inc., collaborated to develop the iWE280, a new generation of mobile cash register with electronic fund transfer capability (EFT-POS) as a consequence of a market organization required by the Turkish State. The iWE280 is designed to process a wide range of payments types; customers can use contactless cards such as NFC cards, bank and public transport cards, but also smartcards and cards with magnetic stripes.

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WEX to Provide Virtual Credit Solution

WEX corporate payment solutions signed an agreement with Conference Care to offer the WEX Virtual Credit Solution. Conference Care has over 18 years of experience in providing a highly personalised global solution as specialist venue finders and delivers complex Live Event Management. The company has award winning service levels and a reputation for being a superior expert in its field. Having previously paid suppliers by cheque, Conference Care will now have improved reconciliation and increased automation of processes through the WEX Virtual Credit Solution. It allows businesses to Set precise controls for payment authorisation; Streamline and automate payment reconciliation; Earn revenue share on processed payment; and Utilise a straightforward, cost-effective system which can be seamlessly integrated into existing systems.

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MoneyGram Partners Postal Savings Bank of China

MoneyGram signed an agreement with Postal Savings Bank of China to provide money transfer services in over 3,700 locations. With the addition of PSBC to MoneyGram’s agent network, and the rollout of MoneyGram’s money transfer services to mainland locations, services are now available at over 20,000 locations in China. PSBC was part of China Post until its spin off in March 2007 as a separate entity. It is owned by China Post Group and has a strong network in the rural areas. PSBC offers a broad range of financial services including micro financing to rural and urban customers, Small and Medium Enterprise, in-branch service, Internet banking, telephone banking and mobile banking.

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ECONOMIC CONFIDENCE On the Rise as SPENDING INTENTIONS Drop in DECEMBER

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover Spending Monitor remained unchanged at 89.0 in December, reflecting a consumer confidence level at its highest level since July. Spending intentions, however, declined as there was a significant increase in those who believe economic conditions are improving heading into 2014. The number of consumers who believe the economy is…

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First Bankcard Expands Free FICO Scores

Starting this week, First Bankcard is expanding a credit card program announced in November in partnership with FICO, giving cardholders with First Bankcard-issued credit cards free access to their FICO® Scores, along with information on the key factors affecting their credit scores and the actions they can take to ensure good financial management habits. Credit card customers having “First National Bank of Omaha” branded credit cards were the first to receive their free FICO® Scores. The program is now being extended to customers of First Bankcard’s co-branded credit card partners who have credit cards issued by First Bankcard

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Consumer Delinquencies Hit Lows

Consumer delinquencies declined significantly in last year’s third quarter as the economy improved and consumers better managed their finances, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, fell 13 basis points to 1.63 percent of all accounts in the third quarter, a record low that’s well under the 15-year average of 2.35 percent. The ABA report defines a delinquency as a late payment that is 30 days or more overdue.

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Western Union Payment Available at SunTrust

Western Union and SunTrust Bank launched Western Union global money transfer and bill payment services at more than 1,500 bank Agent locations in the southeastern U.S. SunTrust clients and the general public can now pay bills or load prepaid cards via Western Union services, or send money to more than 495,000 Western Union Agent locations in 200 countries and territories from all SunTrust bank locations. Western Union services are offered in the U.S. through a strategically combined Agent network of nearly 46,000 banks, national retail and grocery chains, and independent locations. The company also offers its customers online and mobile phone access points in certain countries for money transfer services.

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Bluefin Launches New mPOS System

Bluefin Payment cloud-based integrated payment solutions for independent software vendors (ISVs) introduced their “QuickSwipe” mPOS system. QuickSwipe is a turn-key payment application for single and multi-user mobile processing on iOS devices. Bluefin also offers the QuickSwipe SDK for integrated payments with an ISV’s existing mobile application. This lets merchants can build catalogs of items and inventory, assign administrators and users, enable tips and taxes, easily issue refunds, and provide detailed, GPS-driven receipts. The application supports credit/debit, ACH and cash journaling. Merchants have the flexibility to extend their brand to the application with the addition of their logo, colors, and business information.

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BBVA Supports Mobile Payments in Spain

BBVA has launched its BBVA Wallet service in Spain. This mobile application, available for both iOS and Android systems, provides BBVA customers with a new means of managing their card transactions quickly and safely via smartphones. BBVA Wallet makes mobile payments a reality. BBVA Wallet allows users to manage any BBVA cards via cell phones. By downloading the application, customers will be able to see all their cards, view transactions for each, including geolocation data for transaction, as well as save photos of receipts with each purchase transaction.

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