MasterCard and Wal-Mart Partner On Store Branded Credit Cards
After almost a decade of partnership with Discover, Wal-Mart and its subsidiary property Sam’s Club have elected to enter into an agreement to make MasterCard their go-to payments network for handling all transactions on its store-branded credit cards. The switch to MasterCard comes as part of finalizing an agreement with General Electric’s Capital Retail Bank, which will be the store card’s issuer.
“The conversion of the Wal-Mart and Sam’s Club co-brand programs to MasterCard is further evidence of the strong and growing partnership between our organizations for the benefit of consumers,” Craig Vosburg, MasterCard’s chief product officer, wrote in an e-mailed statement to Bloomberg. [Read More…]
Royal Canadian Mint Looking To Unload MintChip Program
After a big announcement and bold plans for the future of secure payments in Canada, the Royal Canadian Mint has officially decided to ditch the MintChip program and is looking to pursue a sale of the business. “The Mint is currently working with the Department of Finance to explore divestiture options. The Mint is also in the process of completing development of MintChip to package the assets for divestiture,” says Mint spokeswoman Christine Aquino, reports Finextra. [Read More…]Square’s software partner platform aims to incorporate third parties
Square has announced the launch of its software partner platform, collaborating with third parties to build new applications that complement Square’s suite of business services. Square expands their platform with a new integration with Xero. The integration simplifies operations for small businesses in the US. With data flowing automatically from point of sale to back-office accounting software, sellers save time spent manually inputting sales. [Read More…]First Data names Chief Technology Officer
First Data has announced the appointment of Michael Manos as chief technology officer. In this position, Manos will be responsible for First Data’s global technology infrastructure. He will be based in Atlanta, and report directly to company president, Guy Chiarello. “Mike is a key addition to our world-class leadership team and his knowledge and expertise enhances our ability to provide our clients with cutting-edge technology,” said Chiarello. [Read More…]MasterCard Sees 40% Jump In APMEA Prepaid GDR
MasterCard’s prepaid card business in the Asia/Pacific, Middle East & Africa (APMEA) region experienced a 40 percent increase in year-over-year gross dollar volume last year. MasterCard expects the momentum to continue through enhanced financial inclusion in emerging markets and increases in cross border and e-commerce transaction activity, reports CPI Financial. “The needs in emerging markets differ greatly from developed markets, and this is proving to be a catalyst for innovation,” Jason Tymms, MasterCard head of prepaid in the region, noted in the article. “We find ourselves innovating to meet the most basic of needs, which is access to financial services, especially for citizens who sit at the bottom of the financial pyramid.” [Read More…]INSIDE Secure to enter new NFC tech licence agreement with Intel
NSIDE Secure a provider of embedded security solutions for mobile and connected devices intends to enter into a new agreement with the Intel Corporation, building on the relationship initiated by their NFC technology licence agreement in 2011. Under the terms of the contemplated agreement, INSIDE Secure would transfer to Intel its MicroRead-v5 next-generation NFC hardware and software modem technology, currently under development together with certain related tangible and intangible assets, including certain IP assets. [Read More…]Coming soon: Pay with Your Fingerprint
Samsung’s Galaxy S5 is the first smartphone that can use a fingerprint to authorize payments in stores and online. Anyone with an iPhone 5 can use its fingerprint reader to unlock the device and pay for apps or music in Apple’s iTunes store. Owners of Samsung’s latest flagship device, the Galaxy S5 smartphone, which launches on April 11, will be able to make much broader use of their fingerprints to pay for things. If they visit a website or app that accepts PayPal using the device, they can authorize payments by swiping a finger across the phone’s home button. And PayPal’s own mobile app can be used to pay for goods in some physical stores in the U.S. [Read More…]Shopify brings POS to Canada, offers offline-only option
Ottawa-based Shopify Inc. is bringing its point-of-sales (POS) hardware and service to its native country of Canada after a successful launch in the U.S. and is also making a bricks and mortar-only Shopify service available, it announced today. Shopify began as an e-commerce retailer, managing the backend inventory systems of online shops for nearly 100,000 merchants today. It expanded its business in August of last year by launching a payments processing service and POS system, allowing customers to ditch third-party payment providers and use the same inventory management system for both e-commerce sales and in-store sales. Now Canadians can buy the hardware needed for the Shopify POS. New customers to Shopify now also have the option to start with just the POS and not an e-commerce store. [Read More…]The Credit Card of Tomorrow: Software, Not Plastic
SINCE the 1970s, paying with plastic has been pretty standard everywhere: Customers swiped their cards, signed receipts and took home their purchases. But after security breaches at Target late last year led to the loss of personal data from as many as 110 million customers, the financial industry is racing to adopt technologies that will alter that decades-old ritual. Driven largely by security concerns, credit card companies and issuers say they are working to make the system as consumers know it obsolete through smart chips and advanced computer programming. [Read More…]Industry News
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When: Tuesday, May 27, 2014 to Wednesday, May 28, 2014
Where: InterContinental Yorkville, Toronto
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