Mobile Commerce

What Happens In Payments … Doesn’t Stay In Vegas

Mobile. Mobile. Mobile.

It shouldn’t be a big shocker that mobile dominated the conversations in Las Vegas this week. Mobile payments, mobile identity, mobile authentication, mobile tokenization, mobile POS and mobile just about everything. 

But, of course, that wasn’t all. In the spirit of the conference’s name, we’ve recapped the past couple days with 20 of the big breaking news items that made headlines. 

Sage Innovates Business Payments With Sage Payments

Sage announced the launch of Sage Payments — a new payments service that enables customers to manage and make domestic and international payments straight from their Sage 50 Accounts and Sage 50 Payroll software.

Sage Payments is designed to provide an integrated, flexible and secure service for businesses to accept incoming payments. Sage Payments also offers a new way to make payments to suppliers and employees using a number of secure and reliable payments networks, including the Faster Payments network.

“Money management has throttled growth for too many businesses who struggle to handle flow of cash in and out of their organization,” commented Lee Perkins, EVP and managing director of Sage UK. “Until now, payments have been a significant drain on time for small and medium businesses, with firms spending over eight staff hours every month making payments. With Sage Payments, we are empowering businesses by breaking down age-old financial processes, revolutionizing the way they make payments and enabling them to take greater control of their cashflow.” 

Visa Integrates Token Security Into Visa Checkout

Visa announced the integration of token technology into Visa Checkout, the company’s online checkout service used by merchants and consumers.

Visa is also working with merchants to apply token technology to “cards-on-file.” These are customer card account numbers that merchants store in their systems to facilitate repeat payments, such as monthly subscriptions or billing services.

“We’re pleased that Visa has added tokenization to Visa Checkout in an effort to keep the payment details of more Visa cardholders safe with advanced security technology,” said Faisal Masud, executive vice president of global eCommerce for Staples. “Our customers value mobile solutions that let them conveniently, quickly and securely purchase the products they need to run their business.”

Samsung Pay Still Mum On Specifics

Samsung reps were certainly bullish on consumer use, but the company’s announcement was mum on the actual figures needed to back it all up. 

Sound A Little Familiar?

What Samsung did share was that U.S. consumers who are using Samsung Pay are using it repeatedly, reportedly to the tune of eight transactions per active user, according to a company release. Data also shows that three out of four Samsung Pay transactions were made via MST — meaning on traditional and existing POS terminals.

DocuSign, Visa Pair To Make All Cars Smart 

DocuSign and Visa today announced a new proof-of-concept initiative that merges secure contracts and payments made online via a connected car.

The initiative enables consumers to drive a car off the lot in a matter of minutes after securely signing all documents and paying electronically right from the driver’s seat.

“We see a future where car commerce goes far beyond fuel pumps and drive-throughs, becoming a fully automated experience among the Internet of Things,” said Jim McCarthy, executive vice president of innovation and strategic partnerships for Visa. “Anything you buy from your car, or for your car, can be enabled by automatic payments: whether it’s a lease payment, insurance or anything governed by a contract. Tolls, maintenance services, music downloads, parking and even charges from the DMV could all be automated through a Visa token that is securely stored in your car,” said McCarthy.

MasterCard, Cardlytics Pair For Card-Linked Platform

MasterCard is teaming up with Cardlytics to bring new card-linked loyalty offerings to U.S. banks of all sizes.

The collaboration will bring the card-linked marketing solutions and advertising of Cardlytics to MasterCard’s bank partners, allowing them to deliver “unsurpassed” loyalty solutions.

With an increased preference among consumers for card-linked loyalty offerings, MasterCard will leverage Cardlytics’ advertiser network to enable its bank partners to provide compelling loyalty offers to both online and mobile.

Optimal Payments Launches VIP Prepaid MasterCard

Optimal Payments announced the launch of its Net+ VIP Prepaid MasterCard, an exclusive card available to its high-transferring, high-value NETELLER customers that offers unique features and Stored Value member benefits.

Created in partnership with MasterCard, the Net+ VIP Prepaid MasterCard combines Optimal Payments’ payment product development with its expertise of Stored Value members to provide a seamless user experience.

VoiceVault Identity Manager Launches

VoiceVault announces the release of VoiceVault Identity Manager (vIM) — a voice biometric identity management solution for credentials and password reset requests. 

With VoiceVault Identity Manager, organizations are able to automate system password resets and account unlocking for as low as $1 per user, per year. For maximum flexibility, vIM can be accessed through an Android or iOS mobile app or by calling a dedicated phone number.

Flywire’s New Payment Solution

Flywire (formerly peerTransfer) announced the launch of a new cross-border payment solution for patients traveling overseas for medical care.

“The payment challenges faced by hospitals and their international patients are similar to those faced by educational institutions and their international students,” said Mike Massaro, CEO of Flywire. “A significant percentage of international patients pay for care abroad themselves, without the involvement of insurance companies. It’s a stressful time, and patients want the peace of mind knowing that the payment side of their treatment is taken care of, so they can focus on getting better. On the hospital side, the reconciliation issues for international payments can be complex and time-consuming. The more efficiently the hospital can confirm payment, the better it is for everyone involved.”

Remitly’s Money Transfer Service Lands In Mexico

Remitly announced the expansion of its mobile money transfer service into Mexico, which, according to the company, is “the world’s single largest corridor for international money transfers.” 

“We’ve built the best mobile product in the world for money transfers. We’ve strategically focused on the world’s largest remittance corridors first and are excited to bring our mobile app and advanced fraud detection system to people sending money home to Mexico,” said Matt Oppenheimer, CEO of Remitly.

ONPEX Launches Payment Account Management Solution

ONPEX, the Online Payment Exchange, announced the launch of its new product: Payment Account Management. This solution allows customers to manage technical transaction information in relation to real payment streams with any connected payment method. 

The Payment Account Management has five key features:

  • Virtual Accounts — allowing customers to create and manage customizable individual virtual accounts for their merchants or wallets.
  • Collection — Collect payments from all connected payment methods globally in many currencies in one place.
  • Settlements — Create settlements through multiple pay-out channels swiftly and safely.
  • Reconciliation — Technical transaction information from all payment methods matched to the payment account value on a single transaction level.
  • Cash Management — Moving value in real-time between payment accounts from and to connected real bank accounts.

VersaPay Upgrades Accounts Receivable Automation Platform

VersaPay Corporation, a provider of cloud-based invoicing, accounts receivable management and payment solutions, announced the newest version of ARC — its accounts receivable automation platform.

“I am very pleased to see the level of engagement our customers are exhibiting on the platform,” said Craig O’Neill, CEO of VersaPay. “Much of the feedback we are receiving confirms that the system is indeed quick and easy to use, but we’re also getting some great ideas to refine existing features and add new capabilities that solve real business problems. This latest version of ARC is a great example of both types of improvements: refinements that add speed and convenience, as well as some exciting new capabilities.”

Penny Inc. Launches PrePaid MasterCard With Integrated Mobile App Solution

Penny Inc., which provides payments, expense and travel management solutions for SMBs, announced the launch of the Penny Inc. prepaid MasterCard card program (“Penny”) that’s connected to a mobile app.

Built on the open API payment innovation platform of Marqeta, Penny monitors and manages employee expenditures, significantly reducing the time spent on expense tracking and administration processes.

“We’ve all experienced admin distracting us from creating value for our customers and bottom lines. Penny gives every employee their very own assistant,” stated John Battley, CEO of Penny Inc. “Whether it’s booking company travel or purchasing a business meal, with Penny, you hand an employee a card, download the mobile app and let them get on with their job.”


Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.