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MasterCard Buys UK Payments Provider VocaLink For $920 Million

Mastercard newlogoIn another sign that MasterCard is determined to stay relevant in a rapidly changing payments landscape, the company will acquire a majority stake in payment systems provider VocaLink for £700 million (approximately $920 million U.S.).

London-based VocaLink offers products including ZAPP, a mobile payments app leveraging Fast ACH technology. The company operates payment technology platforms supporting Faster Payments, a real-time account-to-account service enabling payments via mobile, Internet and phone, as well as the UK ATM network LINK. In 2015, VocaLink reported revenues of £182 million and processed more than 11 billion transactions.

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Mastercard Masterpass Will Serve 5M Stores In 77 Countries

Mastercard has introduced the global digital Masterpass solution, which allows consumers to pay online, through mobile apps or in brick-and-mortar stores. Currently available at hundreds of thousands of merchants online or in-app, Masterpass contactless payments will soon expand to more than five million physical locations in 77 countries, with 1.8 million merchant locations in the U.S. alone.

"Easy and intuitive payment methods have become table stakes," said Craig Vosburg, President of North America Mastercard at an event introducing the new service on July 14. "We've evolved our network to enable connections, security, ubiquity and interoperability. We want to enable our customers to pay anywhere, anytime, any way they want."

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Kohl's Links Loyalty Rewards To Apple Pay

1kohls store smallKohl's has integrated its private label credit card and loyalty program with a contactless, one-click payment option via Apple Pay. Currently live in 250 stores, the retailer expects to offer this functionality nationwide by the end of May 2016.

When paying in stores, customers hold their iPhone 6 or iPhone SE near the contactless reader with a finger on Touch ID to pay and receive their Yes2You Rewards. On Apple Watch, shoppers double-click the side button and hold the face of the Apple Watch up to the reader. Kohl's first introduced the Apple Pay option in June 2015.

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Android Pay Launches In More Than One Million U.S. Locations

Google has launched Android Pay in more than one million locations across the U.S. The search giant’s contribution to the mobile payment race, Android Pay allows users to store gift cards, loyalty cards and special offers on their mobile devices. When they’re ready to make a purchase, consumers can tap their phones on the payment terminal.

While announcing the launch, Android Pay executives announced that retailers such as Aeropostale, American Eagle, Babies “R” Us, GameStop, Jamba Juice, Panera Bread and Walgreens will accept the payment option. Android Pay also will partner with a select number of retailers to integrate the payment option into their mobile apps.

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Synchrony Financial Integrates Samsung Pay Into Credit Cards

1samsungpayPrivate label credit card provider Synchrony Financial now allows Synchrony Bank-issued credit cards to be accessed through Samsung Pay. The new mobile payment service is expected to launch in September 2015.

Samsung Pay leverages Magnetic Secure Transmission (MST) and NFC technologies to integrate with most existing payment terminals. All of Synchrony Bank’s payment solutions and CareCredit cards, including approximately 12 million active accounts, will be compatible with Samsung Pay.

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Merchant Customer Exchange Appoints Bank Of America Exec As Interim CEO

MCX head shot
Merchant Customer Exchange
(MCX), developer of the CurrentC mobile payment platform, has appointed Brian V. Mooney as its interim CEO. He succeeds Dekkers Davidson, who is leaving MCX to pursue other opportunities.

Noted as a financial services and payment industry veteran, Mooney most recently served as CEO and a board member of Bank of America Merchant Services. In this position, Mooney oversaw client engagement, as well as product strategies, including mobile, sales, operations, risk and compliance. Before joining Bank of America Merchant Services he was CFO and later President of First Data Merchant Services, which provides payment technology and services to global companies.

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Kount And Ethoca Collaborate To Tackle E-Commerce Fraud

KountFraud technology provider Kount has partnered with Ethoca, a network for card issuers and merchants to connect and work cooperatively outside the payment network, to help e-Commerce merchants increase transaction acceptance levels and mitigate fraud.

Through the partnership, Kount now offers global merchants Ethoca Alerts as an additional complimentary service. These alerts are designed to catch fraud that has already been confirmed between the card issuing bank and the cardholder. Ethoca sends this data to merchants in the form of alerts that arrive in a matter of hours. Merchants would normally have to wait three to six weeks to receive this information through the chargeback and dispute process.

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