Gas Prices Fuel Consumer Confidence in Economy

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Confidence in the economy on the Discover U.S. Spending Monitor of nearly 8,200 consumers in May was pretty flat, demonstrating a 1.2 slip to 95.5 in May from 96.7 in April. Buoyed by falling gas prices, those who said the U.S. economy was improving held steady at 33%, but only 37%…

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Consumers Look to Non-Bank mPayment Providers

Mobile wallet consumers are now looking to using alternative players to their primary bank for mobile wallets and for banking. They are also looking to using a wide variety of services in their mobile wallet, such as search & shop, loyalty programs and real-time incentives, according to Carlisle & Gallagher Consulting Group. Specifically, research indicated 48% are interested in a mobile wallet and that interest is driven by both young consumers and affluent consumers, 76% of whom are currently using or intend to use mobile banking. These consist of Techno Shoppers (27%) and Payment Optimizers (21%)- those interested in making the best payment decisions based on their financial situation. Additional findings show 80% would use PayPal as their mobile wallet provider; 60% would use Google; and 60% would use Apple, while 65% rated the ability to make better payment choices – such as maximizing loyalty programs or minimizing interest payments- as the most valued mobile wallet service.

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Fime Extends MasterCard Contactless Terminal Testing

Fime has enhanced its acquirer services offering with the upgrade of the SAVVI test log analysis tool. This supports MasterCard PayPass Terminal Integration Process (M-TIP) Specifications, replacing the existing PayPass TIP process to complement FIME’s Formal Approval services. Acquirers implementing contactless terminals must adhere to the new PayPass M-TIP Specification while those with previously approved MasterCard TIP contactless readers may continue to use the existing PayPass TIP process for new terminal integration projects. FIME has updated its SAVVI test tool in response to the release of the new MasterCard PayPass M-TIP Questionnaire, which determines the tests that need to be undertaken by an acquirer.

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Marketing Innovators Implements CashStar for eGift Cards

CashStar will power Marketing Innovators’ digital gift card solution, offering business customers the ability to reward program participants with convenient and personalized eGift Cards from well-known retailers. Marketing Innovators’ incentive, marketing, recognition and loyalty programs offer powerful, custom-designed solutions that engage and motivate employees, partners and customers toward a company’s goals. CashStar’s platform is integrated with retailers and top processors, allowing a level of digital gifting flexibility unmatched by any other provider. Businesses control the entire process and can order cards in real-time with no inventory or volume commitments, issue cards in many popular denominations, and activate cards instantly.

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USA Technologies Receives $3mm Commitment Letter

USA Technologies has received a commitment letter from Avidbank Corporate Finance to establish a $3.0 million, one-year secured line of credit. The credit line is part of USA Technologies’ strategy to assist in the accelerated transition of cashless payment systems and services in the unattended small-ticket, retail market through its JumpStart program. The amount of funds to be made available to USAT under the line of credit would be based upon a percentage of eligible accounts receivable and license and transaction fees to be specified in the loan agreement.

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Prepaid Press Expo Slated in August

The Prepaid Press Expo announced its slate of speakers for “The Prepaid Press Expo ’12” to be held at the Paris Hotel, Las Vegas, August 6-8, 2012. Two days of conference sessions will include speakers from a diverse group of prepaid companies, including: InComm, NetworkIP, Fiserv, Prepaid Resources, Auris Technologies, Lunex Telecom, CHARGE Anywhere, Giftango Corporation, Paymentez, First Data and many others. Top analysts from Mercator Advisory Group will lead “Focus on Payments,” a special three-session program covering topics relating to the Alternative Financial Services Market.

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Peoples Credit Union Deploys VSoft Check Processing

VSoft Corporation process improvement solutions for financial institutions announced FL-based Peoples Credit Union will implement its back counter check processing solution. VSoft was implemented for its flexibility and efficiency afforded by its back counter solution as well as the ability to outsource check processing. VSoft’s back counter capture solution features automated image and data workflows, which capture, correct, and balance transactions and include comprehensive validation features, reducing errors and accelerating processing.

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RBS Citizens to Host Financial Forum

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] RBS Citizens announced it will host a series of complimentary Financial Forum webinars related to issues in Cash and Treasury Management. The next webinar entitled Payments Risk and Security will be held June 13, 2012. The Financial Forum webinars are designed to provide corporate treasurers with up-to-date information on a variety…

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SecurityMetrics Online Scoping Tool Modeled After Live Scoping Call Center

Responding to payment industry needs, SecurityMetrics released a new online PCI DSS scoping tool called SecurityMetrics Expert that simplifies and increases the accuracy of identifying merchant PCI validation types. After nearly half a decade of customer research at SecurityMetrics’ award-winning call center, SecurityMetrics software engineers modeled the online tool after SecurityMetrics’ live scoping experience, enabling its customers to easily determine their business’ Self Assessment Questionnaire (SAQ) type and scanning requirements. The streamlined interface of SecurityMetrics Expert enables the majority of merchants to take an average of 5 minutes to complete the process without compromising scoping accuracy.

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PassportParking Launches Mobile Payment System

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Passport Parking, LLC added mobile payment to their suite of cloud based parking solutions. PassportParking Mobile Pay has been developed to enable providers greater operational efficiency through real-time monitoring and control of their facilities. The mobile application can be downloaded through the App Store and the Android Market, or from the…

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AvaTax POS Partners Ektron Web Content Management

Avalara (http://www.avalara.com) sales tax automation for businesses announced Ektron web content management and marketing optimization joined its list of solution partners. Avalara’s solution partners are software publishers that integrate Avalara’s software as a service (SaaS) offering for sales tax management directly into their own applications. Avalara has concentrated on building solution partnerships since its inception and today its partner applications on enterprise resource planning (ERP) and financial/accounting, POS, ecommerce, mcommerce, and customer relationship management (CRM) systems.

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Paypal Pivitol to mCommerce

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Over the past 60 days, ShopVisible, selected by the SIIA CODiE Awards as Best Ecommerce Solution 2012, conducted research spanning 23,000 web and mobile transactions. In thousands of mobile transactions, 67% of customers used PayPal or an alternative payment method while only 33% chose to pay by credit card. In web-only…

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