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May 08, 2012

MasterCard Announces PayPass Wallet Services

MasterCard logo 140pxMasterCard has unveiled PayPass Wallet Services, a "new global offering for banks, merchants and partners that will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone."

The services are comprised of three distinct components: PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and PayPass API, each of which offers a consistent shopping experience regardless of how and where consumers shop and makes it easy for developers to integrate into existing checkout systems.

American Airlines and Barnes & Noble are among the first merchant partners to incorporate the PayPass Wallet Services on their websites and others are expected to join in the coming months.

More details are available at http://www.paypass.com/. A video showing the consumer experience is available here.

IP Commerce Introduces Multi-Party Payments (MPP) Commerce Playlist

Ip commerce logo 140pxIP Commerce announced the immediate availability of their new Multi-Party Payments (MPP) Commerce Playlist - a rules-based engine designed to streamline and simplify the collection and disbursement of funds between multiple parties.

“The software companies and associated retail customers we serve have repeatedly asked us to help with this thorny infrastructure challenge,” said IP Commerce Founder and CEO, Alfred ‘Chip’ Kahn IV. “The Multi-Party Payments Playlist provides our customers with cloud-based functionality to address the collection and disbursement challenges associated with Online-to-Onsite payment workflows – allowing them to remain focused on getting their applications and services to market quickly, while leveraging our platform to do the heavy lifting associated with commerce workflow orchestration.”

Linkable Networks Launches SKU-Level Card Linked Offer Capability

Linkable networks logo 140x60px Linkable Networks announced the launch of "the industry’s first SKU-level offer capability allowing brands and retailers to capitalize on card linked offers with individual products."

“Banks are looking to replace revenues lost to recent Federal regulations, merchants and manufacturers are looking for a more efficient and effective method of promotions and consumers are reacting positively to our new approach to accessing, storing and redeeming coupons,” said Doug Spear, Executive Vice President of Linkable Networks. “Being able to save on products by a simple swipe of your card benefits banks, advertisers and consumers.”

Paidpiper Announces New Mobile CRM Platform Using MasterCard OpenAPI

Paidpiper logo 140x60px PaidPiper announced that "brands now have a new direct channel to engage and simultaneously transact with consumers by driving incentives to their customers in real-time and watching them redeem “cash” incentives using their mobile phones."

Working with the MasterCard OpenAPI as a marketing partner as well as a launch partner for the MoneySend API, will allow Paidpiper to extend its platform and reach to a global audience by deploying MasterCard prepaid cards on mobile phones in return for business engagement.

Payments Views - The Co-Dependence Between Banks and Their Vendors

GP Logo Horizontal 140pxReflecting on her time at NACHA's annual payments conference, Glenbrook's Erin McCune reflects on how both banks and banking vendors struggle with the same set of challenges. Erin laments that in both cases, "products and customer segments are managed in silos defined by old payment approaches that are no longer valid in our digital age."

VeriFone Streamlines Its Mobile Poiint of Sale Solution

Verifone logo 140pxVeriFone has introduced SAIL by VeriFone, "a streamlined, cost effective payment-as-a-service platform that provides business owners and merchants an easy and secure way to accept payments wherever business takes them."

“VeriFone has created a unique open ecosystem that builds on our payment-as-a-service vision to foster innovation in the developer and payments communities and maximize choice for small to medium-sized businesses,” said VeriFone CEO Douglas G. Bergeron. “We are delivering a flexible experience with the level of security and reliability that businesses and consumers have come to expect from VeriFone.”

SAIL offers a free app and card reader and take advantage of flat rate plans of 2.7% for lower volumes, or higher volume users can opt for a 1.95% transaction rate with a monthly $9.95 subscription fee. SAIL also offers instant on boarding of merchants.

edo Launches Geocommerce Offers

Edo logo 140x60pxedo announced the availability of Geocommerce Offers, a card-linked offers capability that uses purchase location data to deliver highly-targeted, real-time offers tailored to consumer shopping activity and location.

"We see the card as the connection. Card-linked offers are as easy for merchants as they are for consumers, no matter how big or small," said Ed Braswell, CEO and president of edo. "Marketers can easily target based upon transaction behavior, with no need for additional systems, point-of-sale integration, staff training, coupons, or vouchers that slow down service. With our new Geocommerce capability, we've married location and purchase for the first time, giving consumers highly targeted offers that they are more likely to redeem."

Study Says Contactless Payments Shows Almost 30% Lift

MasterCard logo 140pxMasterCardAdvisors released the results of their first PayPass Adoption Study, a quantitative analysis of the changes in U.S. account transaction behavior after adopting a contactless payments solution.

In one of the study’s key findings, the research showed that within the first 12 months of their first contactless transaction, PayPass-enabled accounts spent almost 30% more on average, using their PayPass-enabled card. The research also found a clear correlation between contactless adoption and preference for a particular card, illustrating that a contactless payments solution may help drive top-of-wallet behavior.

Affinity Solutions Unveils Coupon-on-a-Card

Affinity solutions logo 140x60pxAffinity Solutions has unveiled Coupon-on-a-Card, which utilizes real-time offer redemption technology provided by First Data Corporation.

“The launch of our patent-pending Coupon-on-a-Card is a tipping point in merchant offer delivery for card issuers,” commented Jonathan Silver, president and CEO of Affinity Solutions. “Creating new capabilities and effectiveness for the merchant, and a far superior consumer experience, is a significant addition to our industry-leading transaction-based marketing product set. It’s also another step in the rollout of our vision for the highly-integrated marketing platform of the future. Rich, cross-industry collaboration, such as our integration with First Data’s innovative offer redemption technology, is a key to that vision.”

Federal Reserve Reports Consumer Credit for 1Q2012

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "consumer credit increased at an annual rate of 7.75% in the first quarter. Revolving credit was little changed, while nonrevolving credit increased at an annual rate of 11.5%. In March, consumer credit increased at an annual rate of 10.25."

Portlogic Announces Proximity Coupon Delivery System for Mobile Phones

Portlogic logo 140x60pxPortlogic Systems announced the successful testing of its new proximity coupon push system. "The technology can communicate with customers' Bluetooth or Wi-Fi enabled mobile phones within a predetermined area. Advertisers are able to get real-time statistical reports on campaign effectiveness, such as the total users contacted and the number of coupons delivered."

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