Access Prepaid Worldwide Launches British Airways Cash Passport

MasterCard subsidiary, Access Prepaid Worldwide announces a new partnership with British Airways to launch a new Executive Club Multi-currency Cash Passport. The partnership will allow British Airways Executive Club members to earn more Avios points, receiving one Avios point for every £1 loaded (or reloaded) onto the card. The travel card, which is available now, offers a more convenient way to make payments for Executive Club members who travel to different countries as only one card is needed for payment across certain continents and currencies. The Executive Club Multi-currency Cash Passport™ card works with the option to load up to seven currencies while locking in the exchange rate at a point in time. When used in market, the card intelligently selects the local currency to ensure the best rate. If the local currency is not on the card, funds are used from other currencies loaded to ensure the transaction is approved. The chip and PIN enabled BA Executive Club Multi-currency Cash Passport™ will hold seven currencies; EUR, GBP, USD, AUD, CAD, NZD, and ZAR.

Details

Cardholders Still Paying Down, Despite Unemployment Uptick

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] When superimposed over one another, unemployment and consumer credit outstanding swells and lulls indicate very positive correlation. With the total outstanding revolving US consumer credit down 2.4% in March to an adjusted $846B, it erased all positive momentum in April, springing to $849.8B. Meanwhile, payroll employment was up 175,000 in May…

Details

FreedomPay Announces Ben & Jerry’s Latest Cloud Client

FreedomPay announced that Ben & Jerry’s is deploying the FreedomPay Commerce Platform across their domestic US franchise scoop shop system. The cloud-based FreedomPay Commerce Platform puts Ben & Jerry’s on the fast track of technology innovation. FreedomPay delivers a high-performance, secure user experience driven from the cloud to any device, anytime, anywhere. The platform seamlessly bridges the gap across in-store, web, and mobile by interconnecting POS systems, transaction hosts, incentive engines, and other disparate systems to a cutting edge transaction superhighway. FreedomPay is an early leader in true Point to Point Encryption (P2PE) for MICROS point of sales systems including support for NFC, EMV and magnetic stripe in a single solution.

Details

USA Technologies Recognized at Connected World Value Chain Awards

USA Technologies wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries earned the top award for the vending category at the 2013 Connected World Value Chain Awards last week in Santa Clara, California. The Connected World magazine Value Chain Awards honor the most successful corporate adopters of M2M technology and connected devices as well as the solution providers that help make their technology adoption a success. The awards recognize the process of combining multiple technologies, such as device-connectivity hardware, network services, as well as application software and infrastructure, to create a winning solution for the end customer based on quantifiable results. Entries were judged by a panel of industry experts and analysts.

Details

Collis Contactless NIV Test Tool MasterCard Qualified

ULUL announced Collis Brand Test Tool, developed by UL’s Transaction Security team, has passed qualification by MasterCard for Contactless Network Interface Validation (NIV) testing. To correctly process PayPass™ transactions, acquirers need to validate their network interfaces with MasterCard. NIV testing checks that authorization and clearing interfaces are in accordance with the current MasterCard requirements. NIV Subset 7 ensures that acquirers send correctly formatted PayPass™ M/Chip authorization requests and successfully process the resulting response messages. UL Transaction Security has recently implemented the NIV Subset 7 in the Collis Card Simulator, which is an integral part of Collis Brand Test Tool. This new implementation includes two brand new card simulations related to mobile behavior (MCC_420 and MSI_420) to cover the NIV Subset 7. Now the Collis Brand Test Tool is now fully equipped to support acquirers in the full range of terminal and the network interface validations, as it is now qualified for both contact and contactless NIV testing.

Details

American Express Names New CFO, VP

American Express Company appointed Jeffrey C. Campbell executive VP and CFO to lead Finance organization and represent American Express to investors, lenders and rating agencies. To sit on the Operating Committee, as well, Campbell joins American Express from McKesson Corporation, where he was executive vice president and chief financial officer of the largest health care services company in the United States. Before joining McKesson, Mr. Campbell served as chief financial officer of AMR Corporation and its subsidiary, American Airlines, where he helped the business successfully navigate significant financial challenges. Prior to this he was a CPA with Deloitte, Haskins and Sells. He is a member of the board of directors of Hexcel Corporation and the San Francisco Chamber of Commerce. He holds an A.B. degree in Economics from Stanford University and an M.B.A. from Harvard University.

Details

UniCredit Implements Wincor Nixdorf Self-Service

Wincor Nixdorf UniCredit will be gradually procuring automated teller machines and cash recycling systems from Wincor Nixdorf’s new CINEO generation over the next three years, in a replacement project addressing almost 50 percent of its installed base of self-service systems. Wincor Nixdorf will also be providing services for the bank. All this is the outcome of a 36-month contract that the two companies signed effective March 31, 2013. The first self-service systems have already been ordered and installed and almost 2.000 new CINEO systems are expected to be delivered to UniCredit branches by 2015. Wincor Nixdorf will also be involved in the rollout and implementation of the systems while also providing services to ensure system availability.

Details

Visa Inks Latest Retailer to Digital Wallet

Visa Europe and WorldPay announced that from late 2013, customers of Dixons Retail will be able to make purchases on the Currys and PC World websites using the V.me by Visa digital wallet. V.me by Visa wallet service developed by Visa Europe will be available in the UK and Spain from the end of 2013. It allows consumers to complete online transactions through the internet browser on a PC, laptop, tablet, or smartphone in a simple and easy manner. Full customer card details are not passed on to the retailer, helping encourage consumers to feel safe when shopping online. In addition to the improved customer journey, the streamlined online checkout experience is also designed to reduce basket abandonment and, in turn, increase sales conversions for merchants.

Details

PayLane Signs New Bank Client

PayLane systematically expands the list of banks in its portfolio. Customers can choose to make a transfer from such banks as Bank Millennium, mBank, Credit Agricole, Alior Bank, MultiBank, PKO BP, Deutsche Bank, Alior Sync, Inteligo, Bank BPH (GE Capital Group), ING, KB Kredyt Bank, BZ WBK, Getin Bank. This now includes Nordea Bank (Pay with Nordea), Idea Bank and postal money order. The large number of banks coupled with other payment methods such as credit and debit cards or PayPal, makes it possible for the e-shop customers to find their favourite way of issuing payments. As PayLane received the status of a Payment Institution in May 2013, it is subjected to the regulations of Polish Financial Supervision Authority. Both the merchants and their customers can be sure the wire transfers are secure.

Details

Barclaycard PayBand Set for Concert Debut

Barclaycard PayBand contactless payment wristband has been made available to attendees at this July’s Barclaycard presents British Summer Time Hyde Park event. Barclaycard presents British Summer Time Hyde Park will bring together a host of national and international stars in a series of concerts, comedy shows, films, and family entertainment events. Headlining acts include Bon Jovi, Elton John, JLS and The Beach Boys, Lionel Ritchie and Jennifer Lopez, and The Rolling Stones. With the PayBand concertgoers will be able to beat the queues with fast-track entry, keep connected with Facebook updates, and enjoy the convenience of making quick, easy and secure contactless payments for anything £20 and under at the event.

Details

Conference Board Shows Economy on Steady Assent

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index for the U.S. was up 0.1% in May to 95.2 (2004 = 100), following a 0.8 percent increase in April, and a 0.3 percent decline in March. The LEI six-month growth rate remains steady, suggesting that conditions in the economy remain resilient. Widespread gains in…

Details

CTS Ups Back Office Check and Item Processing Speed

CTS North America branch automation solutions increased the speed of its LS515-SE dual-pocket bulk check and item scanner by 50 percent, further increasing efficiency and streamlining operations for high-volume branches, regional processing centers and remittance and lockbox applications. For financial institutions, the speed upgrade adds to the LS515-SE’s existing durability and provision of increasing back office efficiency at a lower cost and smaller size than competing solutions. Highly engineered front and rear check imaging technology allows the LS515-SE to process 180 documents per minute (DPM), resulting in an even higher rate of production while maintaining its reliability and low jam rates. As a result, banks and credit unions see an immediate improvement in back-counter operations and high-volume bulk check and item processing.

Details