News
ATMIA launches ATM OS migration cost model for deployers ATMIA has released its migration cost model for ATM deployers to use as a tool to calculate costs of different migration strategies to new operating systems. The model was developed in conjunction with leading banks and a team of experts drawn from ATMIA’s various 2020 committees looking at the most optimal approach for the industry when support for Windows 7 OS ends in a few years from now. “ATM operators are faced with the on-going challenge of deciding on their best approach to future migrations,” says author Francesco Burelli, partner at Innovalue Management Advisors and winner of the association’s ‘2014 International Consultant of the Year Award’. “Our industry model offers the ability to compare four different migration scenarios from a financial perspective, based on a bank’s typical cost drivers. ATM operators can compare the costs of different upgrade options depending on factors like number of ATMs and the risk levels. Even the pre-populated baseline data is leveragable by ATM Operators straight away and offers a realistic and valuable benchmark.” “This intensive study of the costs of migrating ATMs to a new operating system brutally exposes the fallacy we sometimes come across in our industry that doing nothing when support for the existing OS ends is fine,” adds Mike Lee, CEO of ATMIA. “It’s definitely not fine, but highly risky. I urge all ATM deployers to read and use this superbly benchmarked new model as a planning tool to prepare for ongoing and future OS migrations.”
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PAYMENTSBUSINESS
Everyday banking simpler for on-the-go Canadians President’s Choice Financial® services has added a mobile cheque deposit feature, adding to its array of convenient services aimed at making banking simple and better for busy Canadians. The free service allows customers to safely and securely deposit cheques on-the-go through their mobile devices. “As more and more Canadians use mobile devices in their everyday lives, we’re committed to providing our customers with tools that add both value and convenience to their banking experience,” says Barry Columb, president of President’s Choice Bank. “For more than 16 years, PC Financial has offered Canadian families the convenience of banking where they shop for groceries, while also providing an opportunity to earn PC points redeemable for everyday rewards. With this new feature, we’re helping free up more time for the things customers would rather be doing, while still offering great value and rewards.” Available on both Apple® and Android™ devices, the PC Financial® mobile cheque deposit feature is fast, easy, and secure. Customers’ financial information is not stored on mobile devices when using this feature and all wireless communications are securely encrypted. Mobile cheque deposit is the latest in a series of initiatives for PC Financial® services aimed at simplifying the customer experience and providing added value and convenience. These efforts have led to President’s Choice Financial® services being named #1 in the “Value for Money” category among all Canadian financial institutions as part of the 2014 Ipsos Best Banking Awards.
Oink introduces prepaid card for teenagers Virtual Piggy, provider of Oink , has launched the Oink Discover prepaid card, a physical extension of the company’s digital wallet. The new prepaid card allows teens to shop at any of the more than 25 million merchant locations that accept Discover, but within limits set and managed by parents. The Oink Card is accepted everywhere Discover is accepted and is powered by Marqeta, a payment card platform for global enterprises. Virtual Piggy is the provider of Oink, an ecommerce solution that enables children and teenagers to manage and spend money within parental controls. It enables parents to teach financial management through the use of a family wallet. The technology company delivers online security platforms designed for the ‘Under 21’ age group in the global online market, and also enables online businesses to function in a manner consistent with the Children’s Online Privacy Protection Act (COPPA) and similar international children’s privacy laws.
UGO, the wallet for your phone has arrived UGO Mobile Solutions L.P. today announced the availability of UGO Wallet, an open digital wallet application that enables consumers to start replacing credit cards and loyalty cards from their physical wallet with a simple, secure digital payment method on their smartphone. UGO Wallet is a free app and available now for download from BlackBerry World and Google Play™. In its initial release, UGO Wallet is available for use with eligible TD credit cards and PC Financial MasterCard credit cards. With just a tap of their smartphone, users can make purchases wherever Visa payWave* and MasterCard® PayPass™ are available. Registered PC Plus members can also instantly get PC points with the same tap when making eligible purchases at participating grocery stores where President’s Choice products are sold. “The launch of UGO Wallet marks an important Canadian milestone: this is the first open digital wallet to combine multiple payment and loyalty programs in one convenient and secure mobile solution,” said Alec Morley, CEO of UGO Mobile Solutions. “Unlike any other mobile payment offering currently available to Canadians, UGO has two participating banks, operates on both Visa and MasterCard payment networks and is supported by Canada’s three biggest network carriers, while integrating the extremely popular PC Plus loyalty program.” November/December 2014