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Archive for March, 2015

Looped in payments app turns charitable for Boston Food Bank

Monday, 30 March, 2015
Looped in payments app goes charitable

Looped in payments app is promoting an event to benefit the Greater Boston Food Bank

Mobile payments application looped in is hosting a fundraiser to raise awareness of the app and encourage users to purchase in-app meals for donation to the Greater Boston Food Bank, suggesting that smaller payments apps could stand to everage live events and fundraisers to reach new audiences.

On March 31, consumers are encouraged to visit Boston’s SA PA Modern Vietnamese Restaurant and purchase a meal via looped in to receive 15 percent off and fuel the app to donate $5 per meal bought. The event, titled “Loop In to End Hunger,” is taking place from 10 am to 11 pm.

…read more

Source:: Mobile Commerce Daily feed

BMO to Add 400 ATMs at Shell Canada Locations

Friday, 27 March, 2015
ATM BOM

The ATMs, owned by DirectCash Payments, will start deploying the BMO-branded machines this spring and complete the work by early summer, according to a March 27 press release.

BMO is adding 400 automated teller machines at Shell locations in Canada.

“This partnership increases our out-of-branch ATM network by almost 40% and expands access to cash for customers to nearly 2,500 locations,” Connie Stefankiewicz, head of North American channel strategy and solutions at BMO Financial Group, said in the release.

The $672 billion-asset banking company, based in Toronto, is looking to offer customers more channels to conduct their banking operations. BMO in November upgraded its network of 2,200 ATMs with the ability to accept multi-deposit transactions and scan checks that are printed on receipts.…read more

Source:: Payments Source – Debit

Citigroup Said to Be Close to Sale of Japan Credit Card Unit

Friday, 27 March, 2015

Citigroup Inc. is in final talks to sell its Japanese credit-card unit to Sumitomo Mitsui Trust Holdings Inc. for at least 40 billion yen ($335 million), people familiar with the matter said. …read more

Source:: Payments Source – Credit

CardFlight Unveils EMV SwipeSimple Card Readers

Thursday, 26 March, 2015

CardFlight has released a new reader for its SwipeSimple mobile point of sale offering to accept EMV-chip cards. …read more

Source:: Payments Source – Debit

CardFlight Unveils SwipeSimple mobile point of sale system

Thursday, 26 March, 2015
Mobile point of sale system

CardFlight has released a new reader for its SwipeSimple mobile point of sale system offering to accept EMV-chip cards.

…read more

Source:: Payments Source – Debit

Global Payments to Buy Irish Gateway Realex

Wednesday, 25 March, 2015
Global payments

Atlanta-based Global Payments has entered an agreement to buy the European online payment gateway Realex Payments.

The deal positions Global Payments better within the European market, allowing the U.S. company to broaden its multinational footprint.

Company will pay around $126 million (115 million euros) for Realex, funding the transaction through available liquidity, according to a March 25 press release announcing the acquisition. Global Payments said it plans to provide additional details at its earnings call April 8, but stated that it does not expect the deal to affect the company’s fiscal 2015 results or capital plans.

…read more

Source:: Payments Source – Processing

Bento Launches Prepaid Debit Card Offering for Small Businesses

Wednesday, 25 March, 2015
Master card for small businesses

Bento for Business Launches Prepaid Commercial MasterCard Solution Built Specifically for Small Businesses

New Startup Gives Small Business Owners Unprecedented Control Without Requiring Them to Put Their Personal Credit at Risk; Helps Plug Expense ‘Leaks’

SAN FRANCISCO, CA–(Marketwired – Mar 25, 2015) –  Bento for Business(www.bentoforbusiness.com), which provides financial solutions that fit small businesses, announced today that it has launched its prepaid commercial MasterCard solution designed for small businesses that depend on employees to purchase supplies or services.

Because most small businesses do not qualify for a traditional business credit card, many owners are forced to either purchase all supplies themselves; or provide employees with personal credit cards, cash, gift cards or signed checks for business expenses. The former option is time consuming for business owners; the latter options involve a high degree of risk and hassle, and make spending very difficult to track and control.

Bento’s solutions are designed to save owners time and help eliminate expense ‘leaks,’ a type of fraud that can cost them up to 5 percent of their revenue each year.

Bento’s first offering, the Bento MasterCard, is a prepaid commercial card solution built exclusively for small businesses, offering real-time spending controls.

…read more

Source:: Bento

Khan Academy embrace Square Cash payments capabilities

Wednesday, 25 March, 2015
Mobile Payments

Nonprofit organizations (RED) and Khan Academy are among the early adopters of Square Cash’s new payments

Square, moving to lower friction in the payments space, has launched a business-based version of its person-to-person Square Cash service that lets businesses accept digital payments. Square Cash’s move includes the rollout of $Cashtags, a unique identifier that enables anyone to create a personalized name like $ErinHills or $SunsetPhotography and get paid privately and securely through Square Cash.

Mobile payments seem to be finally ready to fly,” said Wilson Kerr, vice president of business development and sales for Unbound Commerce, Boston. “Square is clearly trying to leverage the social media angle with Cashtags versus hashtags, to allow business-to-business payments.”

End to end
Businesses can avoid having to deal with credit card fees by using Square Cash for 1.5 percent per transaction. The system, which currently works with debit cards only, could help jump-start the slow pace of mobile payments adoption following the rollout of Apple Pay.

With Square Cash now available for businesses everywhere in the United States, businesses of all stripes can receive deposit payments directly into a bank account, as opposed to a holding account, while paying an affordable rate.

$Cashtags can be posted anywhere to let people know they can pay the business with Square Cash, either from the Cash app or on the Web.…read more

Source:: Mobile Commerce Daily feed

Opentabs’ lets users order ahead by registering a debit card or credit card with a mobile application

Tuesday, 24 March, 2015
Debit card or credit card

Opentabs app orders by registering debit card or credit card.

The mobile payments space continues to heat up, with Opentabs integrating PayPal within its mobile payment system to meet consumer demand for order-ahead services.

Stoked by Apple’s and Google’s appearing to be the ones to beat, Opentabs, which lets users order ahead by registering a debit card or credit card with a mobile application, is teaming up with PayPal to meet accelerated customer demand for convenience. Mobile ordering is a hot topic so far in 2015, with numerous restaurants chains announcing their own mobile ordering services or plans for them. …read more

Source:: Mobile Commerce Daily feed

Acquirers’ Tech Arms Race Fuels Optimal Payments’ M&A

Monday, 23 March, 2015

Merchant acquirers are required to respond to mobile’s impact in an almost infinite number of ways, and in many cases deem acquisition the best and fastest play to diversify beyond payments. …read more

Source:: Payments Source – Processing