“By introducing a Visa prepaid card solution, Obopay offers near real-time disbursement capabilities that allow our customers to avoid the time delay of issuing cash or check,” said David Schwartz, vice president of product and corporate marketing for Obopay. “Adding Visa prepaid cards to Obopay Disbursements enables our partners to send funds to any consumer in the U.S. at dramatically lower costs compared to issuing checks while they can also greatly increase the satisfaction of customers.”
Overall year-over-year dollar volume growth was 5.7% in April, down from March’s 8.7% growth. Transaction growth slowed to 5.8% in April, down from 9.3% in March. Despite the slowdown in overall year-over-year dollar volume and transaction growth, discretionary spending was healthy in April.
SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
The joint venture will bring together the strengths of both companies - PayPal's global online and mobile payment solutions with 110 million active accounts in 190 markets and 25 currencies, along with the SOFTBANK Group's local market knowledge, 29 million mobile subscribers and vast distribution network including thousands of retail outlets and sales staff across Japan.PayPal and SOFTBANK also announced PayPal Here in Japan as the fifth "availability" country along side the USA, Canada, Hong Kong and Australia.
"Flint will be a game changer in the world of mobile payments for small businesses," said Alex Mendez, Founding Managing Director of Storm Ventures. "They have created a simple approach that couples payments and social marketing to provide a huge leap forward for the mobile small businesses that form the backbone of our economy. The Flint team consists of seasoned executives who have created market-leading products, and we're very excited to be teaming up with them."
More info is available at www.flintmo.com.
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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.
“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.”
“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.”
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.
“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.
"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."
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.
“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.”
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"Technology infrastructure, a responsive regulatory environment and a robust economy are table stakes for the advancement of mobile payments," said Theodore Iacobuzio, vice president, Global Insights, MasterCard Worldwide. "The necessary conditions are consumer readiness and industry integration. As no one entity can develop and promote mobile payments by itself, key players in the ecosystem must work together to collectively advance the cause of mobile payments."
To download an executive summary of the Index, view an Interactive Global Map of the data, or study the findings of the 34 countries that make up the Index, visit http://mobilereadiness.mastercard.com.
"Restaurant merchants are finding mobile to be an outstanding alternative to traditional terminals and Heartland is leading the charge in providing a secure and comprehensive mobile payment acceptance solution," said Mike English, Heartland's executive director of product development. "By accepting credit, debit and gift card payments through Android smartphones and mobile devices, Mobuyle enables restaurateurs and their staff to enhance the overall customer experience."
Small businesses are traditionally ill served because the consumer platform is inadequate and treasury management solutions are overkill. They are stuck in the middle, with too few features or way too much complexity. This is ironic given that small businesses are a prized, profitable, customer segment.
Over on Payments Views, Erin wonders if this might be "the dawn of a new era for small biz banking".
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