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« September 23, 2012 - September 29, 2012 | Main | October 7, 2012 - October 13, 2012 »

October 04, 2012

LevelUp Partners with MICROS, POSitouch, and Dinerware POS Systems

Levelup logo 140pxLevelUp announced that it has integrated with three of the top ten POS systems, MICROS, POSitouch, and Dinerware.
“Integrating with MICROS, POSitouch, and Dinerware, three of the largest point of sale companies in the country, is a huge opportunity for LevelUp,” said LevelUp Rockstar and Vice President of Partner Development Christina Dorobek. “Our strategy is to seamlessly work with the existing systems our merchants use every day, so LevelUp not only becomes easy for the consumer to use, but also ultra-simple for the merchant to introduce. LevelUp brings real value in the form of campaigns, and now merchants will easily be able to track this data within their existing POS system.”

PayByGroup Beta Launches Group Purchasing Solution

Paybygroup logo 140x60pxPayByGroup has announced the beta launch of a web-based application that facilitates multiple-party group purchases.
“For many people, finding out who is committed and what everyone owes takes quite a bit of time, energy and coordination, and frankly can be quite uncomfortable,” said Camilo Acosta, CEO of PayByGroup. “The platform is a game-changer in terms of eliminating the friction often associated with these activities and providing a simple channel for users to spread the word to potential participants via email, Facebook and Twitter.”

PayByGroup allows organizers to choose how to split the cost among individuals, and the service can charge different amounts based on how many people join. Website is located at www.paybygroup.com.

October 03, 2012

Lemon Opens Its Digital Wallet Through New Developer Platform

Lemon logo 140x60pxLemon announced the launch of its new Lemon Platform for Publishers, or Lemonade, opening its digital wallet ecosystem to third-party developers.
With Lemonade, the company is creating the first truly open mobile wallet platform that supports multiple branded payment cards, loyalty cards, coupons and more. With the new API integration capability and easy-to-use tools, Lemonade offers users an enhanced mobile wallet user experience, and gives merchants and brands a powerful, yet simple, way to connect with consumers through branded add-ons built into the Lemon Smarter Wallet.

FinovateFall 2012 Demo Videos Now Available

Finovate fall 2012Finovate has announced that the demo videos from FinovateFall 2012 are now available.
The videos are part of the Finovate Archives, where you can watch (for free) every demo of new technology since our first conference in the fall of 2007. It's an inspiring place to hang out online for a couple of hours.

October 02, 2012

New Report on Canadian Payment Methods and Trends

Cpa logo 140x60pxThe Canadian Payment Association (CPA) has announced availability of a new report on Canadian Payment Methods and Trends. "To gauge the evolution of payments over recent years, the data was compared to data gathered from 2008, revealing several interesting trends." Highlights are here; full report is here.

InAuth Releases Voice Biometrics Authentication for Mobile Banking

InAuth Corp logoInAuth announced availability of its native Voice Biometrics Authentication Module, an opt-in solution that leverages the voice “fingerprint” of a mobile-device user to secure their financial transactions.
“Like a fingerprint, each individual's voice is unique. Our new Voice Biometrics Authentication Module maps specific voice characteristics such as pitch and rhythm to accurately verify identity and convey confidence to financial institutions in the validity of their mobile user base,” said Mike Patterson, CEO, InAuth.

InAuth's new software solution runs unobtrusively on the mobile device of a financial institution's account user and dynamically identifies the user based on unique voice characteristics.

October 01, 2012

ECB Report Examines The Costs Of Making Payments In The EU

European central bank 140x60px A new report released by the European Central Bank (ECB) analyses the social and private costs of making retail payments in 13 European countries and discovers that they are substantial, amounting to around €45 billion, or almost 1% of their combined GDP. If extrapolated to cover the 27 Member States of the European Union (EU), these costs would be around €130 billion.
“This study is a true joint venture of the ECB and the national central banks involved,” said Benoît Cœuré, Member of the ECB’s Executive Board. “Its results underline how much retail payment services matter for European society and in the economy as a whole. The study will shed light on the debate about how the European market for payment services will look in the future and how overall cost efficiency can be improved even further.”

The study finds that cash payments account for nearly half of the total costs. As the most commonly used payment instrument, cash has, on average, the lowest social costs per transaction, at €0,42, closely followed by debit cards with costs of €0,70 to society.

FIS Launches PayNet Real-time Payments Network

FIS logo 140pxFIS has announced the launch of PayNet, "the industry’s first global real-time payments network for domestic and international money movement for both retail and commercial trade."
“There has been a distinct global market shift toward real-time authorization and settlement as the key to driving emerging digital payment opportunities,” said Anthony Jabbour, executive vice president, FIS North American Financial Institutions. “PayNet addresses this shift – empowering organizations to drive significant efficiencies, revenues and profit within such categories as E-commerce, retail, commercial and mobile P2P, bill pay and mobile payments. We are extremely pleased with the added value PayNet will bring to FIS and our clients, as well as how it will revolutionize the payments industry.”

PayNet is a non-card-based solution for eCommerce, P2P, bill pay, mobile and international money movement. The solution leverages FIS’ network assets for real-time account access, settlement between parties, interchange processing, multi-currency conversion and exception processing.

Braintree Launches 'Instant Approval' Product and Pricing

Braintree logo 140pxBraintree announced that it has introduced a new 'instant approval' product and pricing plan called Braintree Instant. Merchants can now start accepting payments within minutes using Braintree, without a waiting period for a merchant account or underwriting approval.
“Braintree started with the principle of making payments easily accessible for developers and start-ups, and we've helped thousands of businesses through rapid growth,” said Bill Ready, Braintree’s CEO. “Now, developers and start-ups can begin accepting payments in a matter of minutes, with the confidence that Braintree has them covered with everything they'll need as they grow their business into the next Uber, Airbnb, LivingSocial or AngryBirds. That includes over 130 foreign currencies, recurring billing, faster funding times and next generation mobile capabilities.”

In addition to immediate approval, Braintree is also introducing simpler, flat pricing plan of 2.9% plus $.30 per transaction.

Gemalto Acquires Mobile Payment Platform From Ericsson

Gemalto logo 140pxGemalto announced that it closed the acquisition of Ericsson Internet Payment Exchange AB ("IPX") with the exception of operations in USA, from Ericsson.
"Acquiring IPX is a natural step for us in supporting the ramp up of MNO and mobile service providers related payment and identity services," said Olivier Piou, CEO of Gemalto. "IPX's positioning, as an international player built on Ericsson advanced technology, is really a perfect fit with Gemalto".

As part of the transaction, Gemalto is also acquiring Ericsson's Trusted Service Manager (TSM) activity. IPX will join Gemalto's Software & Services business line in the Mobile Communications segment.

PointsPay Launches Mobile Wallet to Convert Points and Miles Into Cash

Pointspay logo 140x60pxPointsPay, part of Loylogic, announced that it as launched its PointsPay mobile app, "the world's very first mobile-based wallet for redeeming loyalty points and miles at the point of sale (POS)."
"Millions of consumers participate in multiple loyalty programs, but struggle with lack of options and choice when it comes to redeeming and spending their hard-earned rewards. The ideal scenario is a loyalty solution that allows them to convert their points or miles into any currency, and to use that currency however they want," said Dominic Hofer, Founder and CEO of Loylogic and PointsPay. "PointsPay addresses this need on behalf of loyalty programs and their millions of members."
PointsPay lets loyalty program members convert points or miles into more than 150 currencies, to spend in-store or online at over 30 million merchants worldwide.

Discover Reports Financial Results for 3Q2012

Discover logo 140pxDiscover Financial Services has reported financial results for the third quarter 2012. The company said card sales volume grew 4% from the prior year to $27.2 billion. Credit card loans ended the quarter at $48.1 billion, up 4%, or $1.9 billion, from the prior year. Credit card loan delinquencies and net charge-offs reached historic lows with a delinquency rate for loans over 30 days past due of 1.81% and a net charge-off rate of 2.43%.

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