Amazon Jumping into NFC Mobile Payment Arena?

Amazon considering jump into NFC mobile payments

Apr. 4, 2011 (5:31 am) By: Brian Osborne

Amazon may soon become a player in mobile payments using near-field-communication (NFC) technology. NFC, already used in some credit cards, allows users to simply tap their mobile phones to pay for goods or services while also being able to receive loyalty points or other retail information on their handset. If Amazon is truly looking at utilizing NFC technology they would be in good company. Other well-known adopters including Microsoft, Apple and Google are already planning to offer their own NFC solutions via software, devices, or services of their own. AT&T, T-Mobile USA and Verizon Wireless have also indicated their interest in this new market through a joint venture named Isis.

Why are there so many companies looking to get into mobile payments or NFC related services? They’ve seen the predictions by Gartner and ABI Research indicating that by 2014 340 million consumers will use mobile payments for transactions totaling $245 billion. Some of these payments may be powered by NFC as handsets with the technology begin increasing in number and are expected to double in 2012 from 35 million shipped this year.

Servicing mobile payments is nothing new to Amazon since they have already introduced a service called Amazon Payments which allows consumers to send and receive money online or through their mobile phones. Most would agree that NFC mobile payments would be a natural extension of this service. In addition to NFC mobile payments, Amazon is also looking at NFC-based marketing services allowing consumers to tap the NFC tag of a product located in a retail store to find it on Amazon’s website.

No final decision has been made by Amazon to officially enter the NFC mobile payment market, but Bloomberg cites one of its sources who say that a decision is expected in the next three to five months.

Read more at Bloomberg

Related articles

• Epsilon data breach results in a huge loss of customer data (venturebeat.com)

PayCommerce Previews Cloud-Based SMB Universal Payments Platform

AUSTIN, Texas, April 4, 2011 /PRNewswire/ -- NACHA Payments 2011, Booth #909 -- PayCommerce today began previewing a cloud-based platform that provides small-to-medium sized businesses (SMBs) with a universal business payments solution to automate receivables and payables and integrate the processing and global settlement of virtually all forms and types of payments.

PayCommerce is providing ISOs, banks and other resellers with a cloud-based "Platform-as-a-Service" SMB solution they can easily implement for their customers and which integrates with existing accounting software – from QuickBooks to Oracle and SAP.

"SMBs need an easy-to-use, on demand solution for payables and receivables that supports global and multiple payment types, and works with existing back office software," said PayCommerce CEO/Founder Abdul Naushad. "PayCommerce is providing acquirers and other service providers with an enterprise-grade payments and remittance infrastructure they can deliver to SMBs with the efficiency and cost-effectiveness of the cloud."

The company's PCI-validated universal business payments solution offers a single source for all customer billing and payment activity and access to multiple processors and payment types, fraud management, and security services.

Supporting business-to-business (B2B) and business-to-consumer (B2C) payments and receivables across vertical segments, PayCommerce's platform is intuitive, flexible, modular, scalable, and reliable. Subscription businesses can use the PayCommerce cloud-based services to accelerate revenue cycles, while reducing cost and improving efficiency.

The PayCommerce platform leverages a global settlement and remittance network that interfaces with major payment clearinghouses worldwide and supports credit/debit, PIN-debit, Electronic Funds Transfer, domestic or international wire transfers, and more using a single integrated payment gateway.  

PayCommerce, headquartered in Princeton, N.J., is a privately founded company that offers a comprehensive range of payment methods that can be quickly implemented through its cloud-enabled platform. The company was rated as one of the AlwaysOn 2010 OnDemand Top 100 Private Companies that are pioneering cloud computing and SaaS.  

About PayCommerce

PayCommerce is delivering an integrated cloud computing platform that provides customers with next-generation universal business payment solutions for vertical market segments. Our solutions are designed for ease-of-use and cater to small and large size business markets to provide superior value to companies in a cost effective and efficient manner. We strive on innovation and we are working hard every day to improve and deliver outstanding value to our customers. For more information, visitwww.paycommerce.com

Related articles

• On Cloud, Integration and Performance (devcentral.f5.com)
• Cloud Computing: What Does It Mean? (techpudding.com)
• Can the cloud remake the SMB backup market? (zdnet.com)

Discover Financial Services Names Graf New Chief Financial Officer

How Much Money Do You Have?

April 04, 2011 09:00 AM Eastern Daylight Time 

RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) today announced that R. Mark Graf, 46, has been named executive vice president, chief financial officer and chief accounting officer. Graf will oversee Discover’s financial operations, including treasury, accounting, investor relations and all financial reporting functions. He will report directly to David Nelms, chairman and chief executive officer for Discover.

“Mark’s track record of leadership and deep expertise in banking and financial services make him a strong addition to our senior team,” Nelms said. “As Discover continues to grow and develop our markets, Mark’s contributions and perspective will be invaluable.”Graf was most recently an investment advisor with New York-based Aquiline Capital Partners, a private equity firm specializing in investments in the financial services industry. Prior to that, he was a partner at Barrett Ellman Stoddard Capital from 2006 to 2008. Graf was executive vice president and chief financial officer for Fifth Third Bank from 2004 to 2006, after having served as its treasurer from 2001 to 2004.

Editor's Note:  Is it me or has money always been the number one issue when it comes to Graf's?  

“I look forward to joining Discover,” Graf said. “They have established an impressive track record of managing the business during some challenging times, which has positioned them well to capitalize on the opportunities ahead.”Graf will succeed Roy Guthrie, who has served as CFO for six years. Guthrie will remain with Discover to help ensure a smooth transition period.

“We are grateful for Roy’s tremendous contributions and steady guidance, and we wish him the very best in retirement,” Nelms said.

Graf will begin his new role at Discover April 11.

VeriFone and Hypercom Announce Agreement to Sell Hypercom’s U.S. Payment Systems Business

Looks like Ingenico has beaten ViVotech and will acquire Hypercom's U.S. Assets...

April 04, 2011 01:00 AM Eastern Daylight Time 

SAN JOSE, Calif. and SCOTTSDALE, Ariz.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE:PAY), and Hypercom Corporation (NYSE:HYC) announced today that they have reached an agreement to sell the U.S. payment systems business of Hypercom to Ingenico S.A.

The transaction is expected to close immediately prior to completion of VeriFone’s acquisition of Hypercom, which is expected to occur in the second half of 2011, subject to certain closing conditions. The aggregate purchase price to be paid by Ingenico is $54 million in cash, subject to certain post-completion price adjustments. In 2010, the Hypercom U.S. business included in the agreement achieved revenues of approximately $61 million. Following the completion of the merger, VeriFone will retain Hypercom’s non-payment terminal Networking products operations in the U.S.

The sale is part of the contemplated divestiture previously announced by VeriFone in connection with its proposed acquisition of Hypercom. The agreement marks an important milestone in the path to the completion of Hypercom's merger transaction with VeriFone.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

About Hypercom (www.hypercom.com)

Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.

Hypercom is a registered trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

Contacts

VeriFone Systems, Inc.
Investor Contact:
Doug Reed – Vice President, Treasurer and Investor Relations
408-232-7979
Email: ir@verifone.com
or
Editorial Contact:
VeriFone Media Relations
Pete Bartolik, 508-283-4112
Email: pete_bartolik@verifone.com

Related articles

• VeriFone Demands Recall of Square Credit Card Readers (mashable.com)
• Ingenico Seeks Hypercom's U.S. Assets (businessweek.com)

Western Union and Online Resources Team for Last Minute Payments

April 04, 2011 08:00 AM Eastern Daylight Time 

CHANTILLY, Va., & ENGLEWOOD, Colo.--(BUSINESS WIRE)--Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, and The Western Union Company (NYSE:WU), a leader in global payment services, today announced both companies have teamed to provide financial institutions enhanced same-day, expedited payment solutions.

“Payment channels are evolving quickly as originators and consolidators are finding new ways to impact the speed, cost and accuracy in all bill payment channels”

The combination of these two premier payment processors significantly expands the options available to consumers who want to make last-minute bill payments to billers through the websites of more than 500 financial institutions. Western Union brings to Online Resources’ banking clients a greatly enhanced expedited payments service that now includes same-day delivery and posting to many more prominent billers in the mortgage, credit card, auto finance, telecom, cable, utility and other industries.

The offering enables financial institutions to provide the speed of delivery options, posting accuracy and value that their consumers demand for same-day payments in any channel.

“Payment channels are evolving quickly as originators and consolidators are finding new ways to impact the speed, cost and accuracy in all bill payment channels,” said David Shapiro, Senior Vice President of Western Union Payments. “By integrating our expedited payments network with a market leader in online banking, Western Union and Online Resources can offer a powerful tool for the entire payment industry.”

“By teaming with Western Union, we are delivering on the value and promise that banks envisioned for expedited payments: a broad-reaching service that is highly attractive to consumers,” said Robert R. Craig, Executive Vice President of eCommerce Services for Online Resources. “The combined reach and speed to billers will drive adoption of the service through financial institutions, and deliver more guaranteed, on-time payments to billers.”

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions-branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. The Western Union, Vigo and Orlandi Valuta-branded services are offered through a combined network of 445,000 Agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit www.westernunion.com.

About Online Resources

Online Resources (Nasdaq: ORCC) specializes in powering financial interactions between millions of consumers and the company’s financial institution and biller clients. Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, Online Resources has been recognized for its high growth and product innovation. It is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com.

eWise Transfers Headquarters from Sydney to Denver

April 04, 2011 08:03 AM Eastern Daylight Time 

eWise Transfers Headquarters and Incorporates in the United States

eWise to Join US Bank and FamilySearch International on Secure Vault Payments Panel at Payments 2011

NACHA Payments 2011

DENVER--(BUSINESS WIRE)--Today, eWise, a provider of online payment and personal financial management solutions, announced the recent transfer of its corporate headquarters from Sydney, Australia to Denver, Colorado and incorporation in the United States under the name eWise Group, Inc. This is significant to the US market as it brings, for the first time, real-time, secure and simple financial solutions to banking institutions and their customers that have not been possible by other forms of alternative payments.

“Secure Vault Payments continues to grow in its size and penetration”

“We see the U.S. Market as the cornerstone of our future growth and development,” said Alex Grinberg, CEO, eWise. “eWise is designed to offer banks an entirely new revenue stream, where there has previously only been costs. This results in increased loyalty from their customers, who now have a fast and easy way to make secure payments and manage their online transactions right from their bank account.”

eWise, along with NACHA – The Electronic Payments Association®, have developed Secure Vault Payments, a safe, secure and private online payment network. In preparation of the commercial release, eWise secured major venture capital funding to help support the rollout of Secure Vault Payments and expanded the leadership team to include the roles of Senior Vice President of Sales and Network Development, Senior Vice President of Marketing and Senior Vice President of Product and Strategy. In turn, these senior leaders have continued to grow their staffs to support the growth and development of the network.

Since the commercial release of Secure Vault Payments late third quarter in 2010, the network has enjoyed successful momentum with regular announcements of new members to the network, most notably the announcement in November of US Bank’s participation and strong support.

In the short time since joining the network, US Bank has announced several agreements including FamilySearch International. “Launching Secure Vault Payments allows U.S. Bank to give our business customers a cost-effective, low risk option to accept online payments while also offering our consumer banking customers one of the safest ways to pay online,” said Jeff Jones, executive vice president for treasury management at U.S. Bank. “It’s a win-win for everyone in the payment chain.”

To capitalize on the growing support and expertise of current and soon to be announced participants, eWise, with NACHA’s support, announced the creation of the Secure Vault Payments Marketing Advisory Council. “Secure Vault Payments continues to grow in its size and penetration,” said Jan Estep, president and CEO, NACHA. “As participation expands, user experiences will be critical to informing future needs. The expertise the council members bring to the table will help guide market development for Secure Vault Payments.”

eWise will join US Bank and FamilySearch International representatives in the panel discussion “A Case Study: Secure Vault Payments” at the NACHA’s 2011 Payments Conference in Austin, Texas, April 4 at 1:30 p.m. CDT.

About eWise

eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology and account management services. eWise is a payments and online financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in US, UK, China and Australia support some of the world’s top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com.

Contacts

104 West Partners
Johanna Erickson, 720-407-6077