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« January 27, 2013 - February 2, 2013 | Main | February 10, 2013 - February 16, 2013 »

February 07, 2013

ShopKeep, LevelUp Launch Integrated Mobile Loyalty Platform for iPad POS

Levelup logo 140px ShopKeep POS, an iPad point of sale solution for small businesses, and LevelUp have announced an integrated solution that lets a merchant process mobile payments and build loyalty right from the store's POS system.
With this new integration, merchants can now ring up sales and accept LevelUp payments right from their ShopKeep POS iPad register without switching devices. ShopKeep POS consolidates the LevelUp transactions with all other transaction information into one simple report that can be accessed anywhere. Merchants benefit from LevelUp's 0% payment processing fees, and can participate in loyalty programs to retain customers.

Electronic Payments Stimulate Economic Growth According to New Study

Visa logo 60pxh Visa announced the results of a study it commissioned from Moody's Analytics on the impact of electronic payment products, such as credit and debit cards, on the GDP of 56 countries.
“Despite a challenging global economic landscape, the increased penetration of payment cards helped boost consumer consumption and, on average, added to GDP,” noted Mark Zandi, Chief Economist of Moody’s Analytics. “This was particularly true for emerging markets. The increase in consumption parallels the growing popularity and accessibility of electronic payments among global consumers, and the findings point to the need for governments to adopt policies that encourage the shift to efficient and secure electronic forms of payments.”

The study found that increases in card consumption contributed to an average additional growth in GDP of 0.17% per year over a five-year period. Over the same time period, GDP in those 56 countries grew by an average of 1.8%.

February 06, 2013

Visa Reports Fiscal 1Q 2013 Results

Visa logo 60pxh Visa has announced financial results for the Company's fiscal first quarter 2013. Q12013 highlights include:
  • Payments volume growth, on a constant dollar basis, for the three months ended September 30, 2012, on which fiscal first quarter service revenue is recognized, was 6% over the prior year at $1.0 trillion.

  • Cross-border volume growth, on a constant dollar basis, was 11% for the three months ended December 31, 2012.

  • Total processed transactions, which represent transactions processed by VisaNet, for the three months ended December 31, 2012, were 14.2 billion, a 4% increase over the prior year.

Full information is available on the Visa investor website.

hyperWALLET Integrates Prepaid Cards with Apple Passbook

Hyperwallet logo 140pxhyperWALLET has announced the integration of its prepaid card products and services with Apple Passbook.
“Our cardholders love our mobile apps and the ability to manage all aspects of their accounts from their phones. With passbook cardholders also receive balance updates and transaction notifications in real time in a native iPhone experience, providing even more convenience on the go”, states Lisa Shields, President & CEO of hyperWALLET Systems Inc.

February 05, 2013

Amazon Introduces 'Amazon Coins' Virtual Currency

Amazon logo 140pxAmazon has announced 'Amazon Coins', a new virtual currency for purchasing apps, games and in-app items on Kindle Fire.
“Developers continue to report higher conversion rates on Amazon compared to other platforms,” said Paul Ryder, Vice President of Apps and Games for Amazon. “Now we have another new way to help developers reach even more of our millions of customers. Amazon Coins gives customers an easy way to spend money on developers’ apps on Kindle Fire in the Amazon Appstore—and we’re giving customers tens of millions of dollars in Amazon Coins to get started. Developers who aren’t yet in the Amazon Appstore will want to make sure their apps have been submitted and approved by April 25 so they’re ready for customers to start spending their Amazon Coins.”

More details area available at As a reference for comparing virtual currency schemes, see the Glenbrook Virtual Currency Report from February 2012.

Elavon Acquires Canadian Merchant Processor

Elavon logo 140pxElavon announced that it has acquired Collective Point of Sale Solutions Ltd. (Collective POS) in Toronto, Canada.
“The opportunities for Elavon to leverage Collective POS’ solutions and established customer base in Canada will deliver the best of both companies’ offerings to the Canadian marketplace,” said Tom Boyer, President of North America for Elavon. “Establishing a greater presence in the Canadian market is in line with Elavon’s global growth plans.”

Collective POS serves nearly 12,000 businesses across Canada and processes in excess of $1 billion of purchase volume.

February 04, 2013

Study Highlights Digital Wallet Market Potential, Current Adoption Barriers

Survey graphic 140pxcomScore has released a new report entitled, "Digital Wallet Road Map 2013" which measures consumer awareness, perceptions and intent to use current digital wallet offerings.
"Digital wallets represent an innovative technology that has not yet reached critical mass among consumers due to a variety of factors, including low awareness and a muddied understanding of their benefits," said Andrea Jacobs , comScore Payments Practice Leader. "This study delves deeply into the mindset of consumers with respect to their potential use of digital wallets, in addition to helping size the market opportunity."

The study is based on comScore's opt-in panel of 1 million U.S. consumers and two separate surveys of more than 2,000 U.S. Internet users conducted in November 2012.

Visa Expands U.S. EMV Roadmap to Include ATM, Common Debit Solution

Visa logo 60pxhVisa announced its support for a common U.S. debit solution and an expansion of Visa's previously announced roadmap for EMV chip card adoption in the United States to include a migration path for ATM transactions.
"To help facilitate chip adoption and issuer compliance with U.S. debit regulations, Visa plans to provide some of its proprietary EMV chip technology to the industry. This approach will simplify EMV chip implementation for debit, reduce migration costs and increase flexibility for card issuers, acquirer processors and merchants."

Braintree and Venmo Launch One Touch Payments for Mobile Apps

Braintree logo 140pxBraintree has introduced Venmo Touch, a service that enables one touch payments across multiple applications.
“Filling out forms and entering payment information on a mobile device is a real hassle for users,” said Bill Ready, CEO of Braintree. “Each time a user downloads a new app, the user needs to re-enter payment information, creating frustration for users and a huge obstacle in the user sign-up process for apps. Venmo Touch lets you store payment information once and then use it across multiple apps without requiring users to sign-up or download a separate app. This makes the payment and sign-up process much easier.”

Cumberland Farms Launches SmartPay Check-Link

Cumberland farms logo 140x60px Cumberland Farms, a leading convenience and gasoline retailer, announced the launch of its SmartPay Check-Link payment program that lets consumers pay for gas and in-store purchases using their mobile phone or with a swipe of a card.
SmartPay Check-Link is an upgrade from the first release of SmartPay, which was launched in April 2012 in partnership with PayPal. While the first release offered PayPal as the only payment option, SmartPay Check-Link is a new feature to the SmartPay program, and offers consumers the ability to debit their checking account as a second payment option. Additionally, Smart-Pay Check-Link is available in both mobile and payment card format.

SmartPay Check-Link users will automatically save 10 cents on every gallon of gas.


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