Tuesday, March 13, 2012

By Year End 2016, 96% of All U.S. Mobile Handset Sales Will be Smartphones

Apple iPhone 3GS, Motorola Milestone and LG GW60
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SOURCE: iGR
March 13, 2012 06:00 ET

New Research Report Forecasts by Year-End 2016, 96% of All U.S. Mobile Handset Sales Will Be Smartphones

iGR Research Majority of Growth in the U.S. Smartphone Market Segment Will Occur Prior to 2014
AUSTIN, TX--(Marketwire - Mar 13, 2012) - Within 2011 alone, U.S. users were buying considerably more smartphones than they were in 2010. By the end of the year, approximately 76 percent of handsets sold were smartphones. This is notable, as only approximately 33 percent of U.S. mobile handset sales were attributable to smartphones in 2009.
iGR's new market research report, U.S. Smartphone Forecast, 2011 - 2016, previews the expected sales for 2011-2016 both in terms of non-smartphone, and smartphone devices and mobile operating systems (OSes). Recent trends within the market are also discussed and applied to the conversation about the future of handset sales to end users through 2016.
Some of the factors that led to this increase across U.S. users include: a rise in upgrade and replacement sales as non-smartphone users transition to smartphones, enterprise user trends (more personal liable smartphones in use), advancements in mobile device hardware and software, carrier network developments (e.g., increasing 3.5G availability), and increased consumer demand for mobile devices that fit a portable, data-driven lifestyle.
These trends, and others, provide support for the upward swing in total mobile handset sales, but particularly that of smartphones, in the U.S. through 2011, and are expected to continue. In fact by 2016, iGR expects approximately 96 percent of U.S. handset sales to be comprised entirely of smartphone sales.
"The growth in the U.S. smartphone market has been very strong in the last few years," said Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless and mobile industry. "But as the market becomes saturated, smartphone sales growth will slow. For OEMs who are hoping to gain, or regain, market share in the U.S., the time to act is now. By 2014, we believe the majority of the smartphone sales growth will be over."
At present, the smartphone market has hit something of a design impasse, with all OEMs attempting to out-design Apple with a 'shiny black glass block' design approach (although materials vary, the design similarities between smartphones are amazingly small at present). And given the growth in smartphone sales together with the very high market entry costs, iGR believes it unlikely that significant new OEMs will enter the market in the next few years.
iGR anticipates that the majority of growth in the U.S. smartphone market segment will occur prior to 2014. This suggests that equipment vendors and manufacturers, as well as software developers, are likely to see the greatest gains should they enter the market earlier on. Such front-loaded expansion also indicates that certain mobile OSes, especially Apple and Android who are the current market leaders, may be better poised for sustained long-term growth than other mobile OSes who are either just entering the market or currently faltering or repositioning.
The following key questions are addressed in the new research study:
  • What were U.S. handset sales from 2009 - present?
  • What were U.S. smartphone sales from 2009 - present?
  • What are the current U.S. wireless device trends?
  • What are current U.S. wireless consumer trends?
  • What are the current trends in U.S. wireless services?
  • What are the anticipated U.S. handset sales for 2012-2016?
  • What are the expected U.S. smartphone sales for 2012-2016?
  • Which smartphone operating systems are expected to prevail in 2012-2016?
  • What are the expected sales for the major smartphone OS in the U.S. in 2012-2016?
The new report can be purchased and downloaded directly from iGR's website from the following link: U.S. Smartphone Forecast, 2011 - 2016.Alternatively, contact Amanda Louie at (512) 554-1701 or at Amandal@iGR-inc.com for additional details on this report as well as information on the Wireless and Mobile Landscape advisory service.

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Betapond Partners With Intel to Make Traditional Retail Shopping More Social, Mobile, Personal


March 13, 2012 06:34 AM Eastern Daylight Time 
DUBLIN--()--Betapond, a VC-backed technology company specialising in Facebook mobile marketing solutions, will join Intel at the Retail Business Technology Expo this week in London’s Earls Court.
Betapond previously exhibited its suite of Facebook mobile marketing solutions at Sony Pictures Studios in Hollywood.On the Intel stand (#440), Betapond will demonstrate an interactive digital sign powered by 2nd Generation Intel® Core® i7 Platform. The digital sign will be personalised for any consumer who interacts using Facebook on their smartphone. Large retail and entertainment brands use Betapond’s mobile marketing products to convert passive footfall into engaged social consumers, deepening customer relationships.
“We’re delighted to be working with Intel to demonstrate how retailers can engage social consumers on their smartphones to personalise their in-store experience,” said Declan Kennedy, CEO of Betapond.
“Retailers are under huge pressure to engage every potential customer in their stores. Our Facebook mobile marketing products allow retailers to generate social recommendations from in-store customers and build long-term social relationships. We enable retailers to replicate online shopping experiences for in-store customers. ”
‘The pervasiveness of hand held computing, such as smart phones and tablets, merging with social media and integrating with new technologies such as NFC, Intel® Wireless Display & anonymous video analytics (AVA) are transforming the digital advertising & retail markets”, noted Rod O’Shea, Intel EMEA Regional Director. “At Intel, we see the application of technology solutions such as Betapond’s as playing a significant role in transforming the shopping experience by delivering more relevant and entertaining experiences directly to the consumer’.
“A shopper is never happier with a retail brand than when she’s shopping – so it’s a great opportunity to start a social conversation on Facebook via smartphone that continues long after she leaves the store,” Kennedy added.
The Retail Business Technology Expo takes place in London’s Earls Court on March 13-14.
The Betapond product utilises QR codes and SMS to connect shoppers’ smartphones with digital signs. The solution uses a Facebook enabled application to offer shoppers a chance to win a prize if they take a short survey, enter a treasure hunt or a complete a number of other activities. The brand can continue conversations with participating consumers and their friends through Facebook to increase footfall and ROI through enhanced social marketing.
Betapond works with leading retailers and entertainment brands in the UK, Europe and the US that have high footfall and existing, well-developed Facebook communities.
About Betapond
Betapond is a VC backed Facebook technology company that specializes in Facebook mobile marketing products for retailers. Betapond is a Facebook Preferred Developer Consultant.
About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com.
Intel is a trademark of Intel Corporation in the United States and other countries.
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The Bancorp Bank Is the New Issuer for the PayPal Debit MasterCard Card

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March 12, 2012 12:00 PM Eastern Daylight Time 
WILMINGTON, Del.--()--The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced that it is the new issuer for the PayPal Debit MasterCard® card. The PayPal Debit MasterCard card can be used worldwide at ATMs, online, and everywhere Debit MasterCard is accepted. It also offers the possibility to earn 1 percent cash back whenever a cardholder is enrolled into the PayPal Preferred Rewards Program.
“Consumers want to be able to feel secure when shopping online with a debit card, and with PayPal's dedication to security, we're able to deliver a great solution with the PayPal Debit MasterCard card.”
“We are thrilled to work with PayPal to bring the PayPal Debit MasterCard card to their 106 million active users,” said Jeremy Kuiper, Managing Director – The Bancorp Payment Solutions Group. “Consumers want to be able to feel secure when shopping online with a debit card, and with PayPal's dedication to security, we're able to deliver a great solution with the PayPal Debit MasterCard card."
The PayPal Debit MasterCard card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.
About The Bancorp Payment Solutions Group
The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorp.com.

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Event Farm Launches Groundbreaking Mobile Events App Powered by ROAM Data

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March 12, 2012 02:11 PM Eastern Daylight Time 
ROAM Data helps Event Farm reinvent ticketing and payment processing with its ROAMPay mobile commerce platform
BOSTON--()--ROAM Data announced today that Washington, DC-based Event Farm will use ROAM Data’s mobile platform and commerce APIs to reinvent the way in which event organizers and producers manage events, ticket inventory and ticket sales. This App, named “Event Farm”, eliminates the need for traditional box offices, delivering a totally integrated ticket management, will call, and payments process.
"What is groundbreaking about what we are doing is that our App is fully integrated into our ticketing platform. We are not just independently charging credit cards on a mobile device,” said co-founder and CEO of Event Farm, Ryan Costello. “Ticket inventories on the App are synched with sales happening in real time online and vice versa. Equally as important, this service does not require the purchase of expensive hardware – it uses mobile phones and dongles – and is secure and fast. This is a solution the events industry has been waiting for."The new App eliminates the need for fully staffed ticket windows and paper tickets. For customers, it makes the ticketing process more flexible as it eliminates the need to print tickets and meet up with others in their party before the event. All data is housed on the App. The API, which is available to event organizers and producers via Event Farm, synchronizes ticket sales via mobile devices with online inventories in real time. The platform uses ROAM’s encrypted card reader and mobile payment capabilities to enable venues to better manage inventory in real time and maximize event profits.
One of the country's premier new music venues, The Hamilton Live in Washington, DC has already signed on. "This App not only eliminated the need for a box office in our venue but it has also completely revolutionized the will call experience for our guests," said Tom Meyer, President of the Hamilton. "Our funds are available to us the next business day as all transactions are automatically batched nightly. Every part of the ticketing process is electronic and mobile. It's amazing to think this was ever done any other way."
“Event Farm’s application is the first of its kind, a potential forerunner to thousands of other POS style applications across industries,” said Ken Paull, EVP of ROAM Data, “ROAM was created to offer businesses a secure and frictionless mobile commerce experience without having to buy new hardware or change their existing business processes.”
ROAM’s encrypted reader and flexible API allows for seamless integration of secure payments into a variety of mobile applications, circumventing onerous PCI audit requirements. Both the reader and API work on iOS and Android devices.
About ROAM
ROAM Data is the leading mCommerce Platform-as-a-Service (PaaS) provider extending physical Point of Sales (POS) and eCommerce to the mobile environment, to help merchants find and keep customers. Founded in 2005, ROAM’s solutions allow merchants to accept card payments on mobile devices, and allow consumers to easily make purchases in mobile shopping apps and ads. ROAM Data provides the total mCommerce platform including hardware peripherals, software, tools and services for merchant service providers to deliver powerful mobile commerce solutions to their merchants quickly, securely and robustly. Visit us at www.roamdata.com


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Monday, March 12, 2012

Inside Secure Launches NFC Tag for Mass Market Application


March 12, 2012 08:00 AM Eastern Daylight Time 
New Tag is NFC Forum-Compliant, Offers Best Price-to-Capacity Profile
AIX-EN-PROVENCE, France--()--INSIDE Secure, a leader in semiconductor solutions for secure transactions and digital identity, today announced the availability of the MicroPass® 4101-2K, the first true NFC Forum tag to offer ample memory capacity for demanding applications at an affordable price. Based on the proven INSIDE Secure MicroPass platform, the cost-effective MicroPass 4101-2K is fully compliant with the NFC Forum Type 4 tag requirements with 2K bytes of memory, enough to store long URLs, business cards, phone numbers, Wi-Fi or Bluetooth pairing information and other application data that can be read by any NFC-enabled device.
According to Vian, the NFC Forum specifies four NFC tag types as the backbone of interoperability between NFC tag providers and NFC device manufacturers to ensure a uniform user experience. Because tags based on MIFARE Classic technology do not comply with the NFC Forum specifications and require NFC devices to utilize a proprietary protocol stack to read them, these tags will not work with all NFC devices, creating user frustration.“Until now, application developers have faced the dilemma of either paying too much for a true NFC Forum tag with enough memory for their applications, or using a more cost-effective but proprietary solution based on MIFARE® Classic technology that presents interoperability issues,” said Bernard Vian, executive vice president of NFC and Payment Solutions at INSIDE Secure. “The MicroPass 4101-2K solves this dilemma by hitting the NFC tag sweet spot, providing developers with a truly compliant NFC Forum Type 4 tag that has sufficient memory at an affordable price and that can be read by any NFC device. With this introduction, we are ending the problem of NFC tag incompatibility.”
At its core, the MicroPass 4101-2K is based on INSIDE’s award-winning MicroPass intelligent payment platform, regarded by most in the industry as the gold standard for contactless payments. The MicroPass product is at the heart of the majority of contactless bank cards issued in the U.S. and Canada, powering more than 30 issuer programs. The MicroPass platform was launched at CARTES 2005, and continues to achieve unprecedented success as the industry’s platform of choice for a broad range of applications, with more than 280 million MicroPass devices shipped to date.
Availability and Pricing
The INSIDE Secure MicroPass 4101-2K NFC Forum Type 4 tag and a companion development and personalization kit are available now. Please contact INSIDE Secure for pricing and other information.
About INSIDE Secure
INSIDE Secure (NYSE Euronext Paris: INSD) is a leading designer, developer and supplier of semiconductors, embedded software and platforms for secure transactions and digital security. INSIDE mobile NFC, secure payment, and digital security products provide security for a wide range of information processing, storage and transmission applications. The company’s customers are found in a wide range of markets including mobile payment, identification documents, access control, transit, electronic device manufacturing, pay television and mobile service operators. For more information, visit www.insidesecure.com.
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Nokia Plans to Shelf Mobile Money Business



Nokia is "exploring options for a structured exit from the mobile financial services business" including its own brand Nokia Money service, the company says in a statement. As part of the withdrawal, the company is to close its flagship mobile money service in India as the handset manufacturer focuses on its core business. The company has announced plans to shelve Nokia Money only three months after launching it across India. Previously the service was launched regionally in various parts of the country.  Nokia Money is a basic service that enables users to make payments for items such as utility bills, pre-paid top-ups, insurance premiums and tickets. The company was even planning to expand Nokia Money to other emerging markets. Instead it has chosen to exit the mobile money business to concentrate on the revamp of its core handset business.  "read more"

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Friday, March 9, 2012

Infographic: Six Ways NFC Will Change our World


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Inforgraphic: Your Cell Phone is your New Credit Card

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Infographic: How NFC is Going to Change the World


Infographic from NFC Rumors
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Infographic: NFC vs. Bar Codes


Narian compares NFC to Barcodes with infographic

The NFC and Barcode battle still looms on and Narian Technologies has been determined to settle the dispute once and for all with an insightful infographic. QR codes are finally being accepted everywhere with marketers barely putting out a piece of printed collateral without the aforementioned QR code winging it's way along for the ride. However NFC tags have many advantages that QR codes simply can't attain. Naraian builds a strong case for NFC in its info graphic that points out the many advantages that NFC holds over Barcodes of any description, but that doesn't mean that barcodes are dead yet.
This post was originally written by NFC Rumors. http://www.nfcrumors.com/02-06-2012/narian-compares-nfc-barcodes-infographic/#ixzz1odTSOYBW



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Infographic: A College Student's Guide to Credit Cards


Today, CreditDonkey.com, a credit card comparison website published A College Student's Guide to Credit Cards, an infographic packed with statistics, advice and tips on how to avoid crippling debt and build a solid credit history.
College students are using and abusing credit cards more than ever, reports an updated study by the University of Arizona and National Endowment for Financial Education, with students surveyed in 2011 expressing more disinterest in money and credit management than they did in a 2009 survey. The only bright spot is that students are more willing to learn about money management.
“50 percent of college students have four or more credit cards,” said Charles Tran, founder of credit card comparison and education site CreditDonkey.com. “That’s more than any responsible person needs. Many students use cards to either live beyond their means or pay for tuition and other education expenses. But when bills aren’t paid in full every month, the cost of education becomes even higher than it already is.”
Tran noted that the average graduating senior holds credit card debt of $4,100 – a 70 percent increase from 2004. The UA/NEFE study also found that the average freshmen’s debt had nearly tripled since 2004 – from $373 to $939.
To keep their heads above water, Tran recommended that students: 
  • Compare student credit card offers and fees to find the card offering the best rates and rewards. Don’t just accept the first offer that arrives in the mail (or your inbox).
  • Don’t use cards to enhance your lifestyle or purchase things you can’t afford. Living beyond your means is a good way to bury yourself in debt.
  • Pay off card balances each month or, at the very least, pay significantly more than the issuer’s minimum payment.
  • If you’re already a responsible card owner, and receive offers from cards advertising lower interest rates, contact your existing card issuer to see if they’ll lower their interest rates, instead of immediately applying for the other card.
“If you don’t feel comfortable using credit right now, look into alternatives such as prepaid cards (which you fund with set amounts) or debit cards,” added Tran. “But keep in mind that debit and prepaid cards carry their own risks, such as minimum balance requirements and (often) less fraud protection.” They’re not perfect alternatives to credit cards.
Visit CreditDonkey.com to view the full infographic on Student’s Guide to Credit Cards.
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First Data Releases February 2012 SpendTrend®


March 09, 2012 09:00 AM Eastern Time 
Card Spending Growth Takes a Leap in February with an Extra Day*
ATLANTA--()--First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend® analysis for the full month of February 2012 compared to February 2011. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.
“Warm weather and improving economic conditions contributed to better February sales for most merchant categories”
February’s overall year-over-year dollar volume growth was 8.9%, a healthy increase from January’s growth of 7.0%. Overall dollar volume growth continued its positive upward trend in February. Improving economic conditions provided consumers with more confidence and income to spend.
After posting negative year-over-year growth for the prior two months, average tickets returned to positive territory in February with growth of 0.9%. PIN debit posted record highs and took the lead over all other payment types in February.
“Warm weather and improving economic conditions contributed to better February sales for most merchant categories,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend.
Feb. Dollar Volume Growth
   
CHANGE
Credit+7.6%
Signature Debit+9.2%
PIN Debit+11.7%
Check-5.0%
 
Note: All transactions are same-store growth.
For more information on First Data SpendTrend, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169. A supplementary podcast including further analysis of the SpendTrend February 2012 report is available here.
To participate in the SpendTrend conversation, please follow First Data at http://twitter.com/FirstData and join us athttp://on.fb.me/spendtrend.
*February growth figures have been normalized to account for the extra day in February 2012.
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Gemalto Talks Mobile Payment and Big Data Security at SXSW


March 09, 2012 09:00 AM Eastern Time 
March 9 – 13, 2012, Austin, TX
SXSW 2012
AUSTIN, Texas--()--Gemalto, the world leader in digital security with North American headquarters in Austin, TX, is participating in South by Southwest Interactive (SXSWi) to engage with digital doers, partners and other industry leaders on all things mobile, identity, and electronic transactions. Gemalto looks to share big ideas centered around digital security and cutting-edge technologies in the emerging industry eco-systems that are transforming the mobile and payment industries.
Gemalto is hosting the IdeaNEXT Lounge at SXSWi, where innovation merges with security and forward movement. The lounge is open to all registered show attendees, and is located on the sixth floor of the Hilton.
On Saturday, March 10, 2012, Gemalto will sponsor The Future of Big Data session track with expert speakers from Gemalto, Isis – the new mobile payment joint venture of AT&T Wireless, T-Mobile and Verizon, CNET, the ACLU, Rackspace and many others. All sessions (details below) will be held in salon FG inside the Hilton.
Specific Dates, Times and Locations
  • Hilton Austin Downtown, room 602
  • Open Hours:
    • Friday, March 9: 1:00 p.m. – 6:00 p.m
    • Saturday, March 10: 9:00 a.m. – 6:00 p.m.
    • Sunday, March 11: 9:00 a.m. – 6:00 p.m.
    • Monday, March 12: 9:00 a.m. – 6:00 p.m.
    • Tuesday, March 13: 9:00 a.m. – 4:00 p.m.
The Future of Big Data – Saturday, March 10: 9:30 a.m. – 6:00 p.m., Salon FG, Hilton
For More Information
More information can be found on SXSWi at www.sxsw.com. Additional details on Gemalto’s Mobile IdeaNEXT Lounge, including complete lists of lounge activities, can be found at www.ideanext-gemalto.com.
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Green Dot Announces Plans to Acquire Loopt


March 09, 2012 08:30 AM Eastern Time 
Loopt is a pioneer in mobile user interface design, real-time location-based mobile rewards marketing, and geo-location application technology
MONROVIA, Calif.--()--Green Dot Corporation (NYSE: GDOT), a provider of widely distributed, low-cost banking and payment solutions to a broad base of U.S. consumers, has entered into a definitive agreement to acquire Loopt, Inc., of Mountain View, California. The transaction is expected to close by the end of the first quarter of 2012 and is subject to regulatory approvals and other closing conditions.
“We believe that mobile phones have the potential to change the way people interact with their bank, control their money and pay for goods and services”
The acquisition of Loopt will provide Green Dot with a number of key strategic benefits that are expected to a) improve customer acquisition and retention of its current prepaid debit card products, b) drive the adoption of new banking and payment products targeted to new segments of consumers, and c) provide the opportunity for Green Dot to become a leader in mobile wallets, rewards and payment solutions at retailers nationwide. Furthermore, Loopt holds several patents that are applicable to mobile marketing in the context of location-based messaging delivered real-time to a mobile handset. Green Dot believes that these patents will be important strategic assets as it pursues its mobile business opportunities.
"We believe that mobile phones have the potential to change the way people interact with their bank, control their money and pay for goods and services,” said Steve Streit, Chairman and CEO of Green Dot. "Loopt has innovative mobile technology, market leading mobile programming capabilities and compelling intellectual property. Meanwhile, Green Dot has a large customer base, a robust enterprise-level financial services infrastructure and retail point-of-sale financial transaction capabilities deployed at major retailers nationwide. When Loopt’s assets are layered into Green Dot’s platform, we believe that a significant opportunity emerges for Green Dot to become a large-scale player in mobile technology solutions at the retail point of sale."
Loopt co-founder and CEO Sam Altman stated, “It’s been exhilarating to see mobile become such a critical part of our collective daily lives. As this technology truly reaches the masses, I believe we're going to see the banking and payments industry fundamentally reshaped in a way that’s better for everyone. My team and I look forward to being part of this transformation and are eager to bring cutting edge mobile banking and payment solutions to Green Dot's retail partners and Green Dot's millions of current and future customers."
Upon closing of the transaction, Loopt’s current headquarters in Mountain View, California will become the new Silicon Valley hub for Green Dot’s mobile technology and product development team.
Green Dot will pay total consideration of $43.4 million in cash for the company, which includes approximately $9.8 million to be set aside as a retention pool for key Loopt employees. Green Dot expects this transaction will result in approximately $14 million of incremental operating expenses during the remainder of this year which will reduce the Company’s previously guided 2012 full year adjusted EBITDA accordingly. This amount includes the above mentioned retention payments, ongoing salaries and benefits for retained Loopt employees, wind-down expenses of current Loopt services and other expenses associated with the costs of integrating Loopt’s technology into Green Dot’s operating infrastructure.
Green Dot will provide further details about this acquisition, including information on Green Dot’s mobile strategy, during its Q1 earnings call on April 26, 2012.
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MasterCard Names Steve Grigg as President, Access Prepaid Worldwide and Cathy McCaul as Group Executive, MasterCard Integrated Processing Solutions™ (IPS)


March 08, 2012 11:01 AM Eastern Time 
PURCHASE, N.Y.--()--MasterCard (NYSE:MA) today announced that Steve Grigg has been appointed president of MasterCard’s Access Prepaid Worldwide subsidiary and Cathy McCaul has been named group executive of MasterCard Integrated Processing Solutions (IPS).
“Access Prepaid Worldwide and IPS represent key drivers of long-term growth in our business. These appointments underscore our continued growth and commitment in these important areas.”
Grigg has been named President of Access Prepaid Worldwide after serving as chief information officer at Travelex. MasterCard acquired the Travelex prepaid card program management business in 2011, renaming it Access Prepaid Worldwide. Before joining Travelex in 2008, Grigg was chief operating officer of Vocalink. This newly created position will take effect in May 2012 and will report to Timothy Murphy, chief product officer, Core Products, MasterCard Worldwide. Grigg will be based in the United Kingdom.
McCaul has been appointed group executive responsible for leading MasterCard’s IPS business. The role will share dual lines of reporting to Gary Flood, president, Global Products & Solutions, MasterCard Worldwide and Rob Reeg, president, MasterCard Technologies. McCaul joined MasterCard Worldwide in March 2008 and led the global Cardholder Solutions business. In July 2010, she was named group executive, Global Products & Solutions, U.S. Markets. Prior to MasterCard, McCaul held various leadership roles within the financial services and technology sectors.
Commenting on the announcement, Timothy Murphy, chief product officer, Core Products, MasterCard Worldwide said, “Access Prepaid Worldwide and IPS represent key drivers of long-term growth in our business. These appointments underscore our continued growth and commitment in these important areas.”
“Steve brings tremendous experience, knowledge of the business and strong customer relationships, which will enable an accelerated growth agenda for Access Prepaid Worldwide across our key markets,” continued Murphy.
“As a seasoned and highly respected executive at MasterCard, Cathy is the ideal candidate to take the helm of IPS. Supported by a strong team with deep expertise in processing solutions, Cathy will lead our efforts to grow and execute on our business objectives and strategic vision,” concluded Murphy.
Access Prepaid is a wholly-owned subsidiary focused on the management and delivery of consumer and corporate prepaid travel cards to business partners around the world, including financial institutions, retailers, travel agents and foreign exchange bureaus. Access Prepaid Worldwide is allowing MasterCard to shape the future of prepaid by playing a greater role in the value chain to support issuers and partners, especially outside of the United States and in the attractive cross-border payments space where there is great opportunity to displace cash and traveler’s checks.
MasterCard IPS is a leading-edge debit and prepaid processing platform that offers a complete processing solution to create differentiated products and services and quickly expand payments portfolios across business channels efficiently and with minimal infrastructure investment. The platform provides a complete range of processing services for signature and PIN debit, as well as ATM and global prepaid.
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