edo Interactive’s New Marketplace Platform Targets Small, Local Businesses

edointeractive.jpg

Last week card-linked rewards startup, edo Interactive launched the edo Marketplace, a service that enables small, local businesses to take advantage of its rewards program.

Prior to this move, edo’s platform was tailored to larger merchants. Big-name companies such as Crate & Barrel, Home Depot, Nordstrom, Subway, and Target are a part of the 200 companies that already use the edo platform to find new customers and encourage repeat customers.

Edo counts over 150 financial institutions as partners, including Fifth Third and Ally Bank.

As a part of its coverage, TechCrunch reported some of edo’s growth metrics:

“Edo says its active card network is currently growing at 30 percent per month, and that within the next three months, it will extend 1 billion card-linked offers to consumers. Painting a picture of acceleration, the company says it took edo 4 years to reach that same level, previously.”

EdoLocal.jpg

To learn more about edo, watch its FinovateSpring 2012 demo.

Mobile Monday: Square Wallet Enables On-the-Fly Tips & You Can Change Your Mind Later

imageSince much of my week revolves around reading and writing in various coffee shops around Seattle, I make sure to tip the barista so they don’t get annoyed with me using their wifi for an hour or two.

Tipping is very easy when paying with cash. You can easily drop the change in the jar. But with cards it gets trickier. With old-school signature system (i.e. mag stripe), it’s a little more time consuming, adding a tip amount and total, but still easy enough.

But with the move to contactless, no-signature below the floor (e.g. Starbucks) and many EMV transactions, the only way to leave a tip is to dig cash out of your pocket. But that kind of defeats the convenience of contactless. 

Maybe since it got it’s start as a POS device for small merchants, Square’s payment app, Wallet, had tipping built into it from the get go. As soon as the your wallet “pay by name” transaction is authorized, a message pops up on the iPhone lock screen, offering the opportunity to tip (see inset above).

Swiping the message brings up the transaction within Square Wallet, where you can choose your tip amount. The merchant can specify tip preferences by dollar amount or as a percentage of the transaction. The coffee shop I visited this morning offered $1, $2 and $3 choices for the tip. Those seem a little on the high side for a business with a $4 average ticket. Unfortunately, there is no way to override the choices and choose a different amount.

The app even allows you to go and edit the tip (see below). I’m not sure how long the “edit window” lasts, but you can certainly change it while you are waiting for your order.

Bottom line: The mobile wallet era will usher in a number of new payment behaviors. Tipping is just the tip of the iceberg.

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Square Wallet tipping function (1 Feb 2013)

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Finovate Alumni News– February 4, 2013

  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe Economist highlights TransferWise. See them demo at FinovateEurope next week.
  • Strategic Shopping blog, November Sunflower, features Jingit.
  • Top Technology News takes a look at the Flint mobile payment system.
  • Linkable Networks now offers deals at Lunds and Byerly’s Minnesota Grocery stores.
  • Virtual Piggy opens London office. Come watch its live demo at FinovateEurope next week.
  • Xero’s Report Packs go live for Australian partners.
  • Bloomberg looks at how StockTwits is adjusting to Twitter changes.
  • eToro updates Trader for iOS to allow for native and social registration.
  • SMC Securities, Global Capital to integrate Heckyl Technologies platform. See them demo next week at FinovateEurope.
  • Finovate Alumni abound in Payment Source’s list of 11 major mergers in payments technology.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

ACI Worldwide Buys Online Resources, FIS Scoops Up mFoundry

Thumbnail image for Finovate-F-Logo.jpgIt was a big day for Finovate alumni. ACI Worldwide and FIS, themselves both Finovate alums, rang the register on a couple of smaller fintech companies they hope will make them even bigger players in the online banking and payments world.

Online Resources Bought by ACI Worldwide

In an all-cash deal worth $260 million, the purchase of Online Resources will help ACI Worldwide bring broader online banking and full-service bill payment options to its network of financial institutions.   

The deal is also expected to increase the company’s customer base, with 1,000 banks, billers and other FIs coming along with Online Resources into the ACI Worldwide fold.

A look at the numbers:

  • Online Resources provides services to more than 1,000 FIs and billers
  • It processes more than 240 million bill payment transactions each year
  • It connects more than 9,000 billers
  • The combined entity anticipates cost synergies (i.e., saving in operating expenses) of more than $19 million.
  • Common shareholders will receive $3.85 per share, an 83% premium over yesterday’s closing price

FIS Purchases mFoundry

FIS’s decision to buy the 78% of mFoundry that it did not already known is seen as an opportunity for the company to assert itself in the mobile arena, while expanding its customer base in the process.

FIS already has a sizable footprint when it comes to banking and payments technology. And in bringing mFoundry fully on board, the company has helped fuel optimism about the prospects for greater innovation and “convergence” among the various players within the industry.

More on the deal:

  • mFoundry serves more than 800 banks and credit unions across the country
  • The acquisition will cost FIS $120 million (valuing mFoundry at about $160 million) 
  • The deal is expected to close by the end of March
  • Founded in 2004, mFoundry’s clients include Bank of America, Zions Bank, and more than a third of the top-50 financial institutions in the U.S.
  • FIS serves more than 14,000 FIs in more than 100 countries

mFoundry and Online Resources both participated in our very first Finovate back in 2007. mFoundry was also on stage more recently at FinovateFall 2010.

Finovate Alumni News– February 1, 2013

  • Finovate-F-Logo.jpgDallas Business Journal reports PayTap helps split bills among friends, family.
  • Taulia to provide e-invoicing and supplier self-services to real estate market.
  • Ping Identity announces annual bookings grew more than 50% for the third consecutive year, cites other growth metrics.
  • Locaid to provide geofencing, location authentication for GTECH.
  • Nationwide shares pointers on how to use eDeposit.
  • ACI Worldwide announces winners of its 2013 Excellence Award.
  • Bazaarvoice to help UK furniture retailer Harveys execute social media strategy.
  • CurrencyFair wins “Start up of the Year” in The Next Web’s Irish Startup Awards competition.  See them demo at FinovateEurope in London!
  • In this Forbes piece, BankersLab CEO and Co-Founder Michelle Katics gives a crash course on what it’s like to take a startup global.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

A Who’s What Preview of FinovateEurope 2013

With FinovateEurope right around the corner, anticipation is building for what will be our biggest event in Europe yet!

To give you yet another taste of what this year’s event has to offer, we’ve put together a word cloud of all the titles of the registered attendees.

FEU2013_titles_logo.jpg

And here’s a sample of some of the organizations that will be attending this year’s FinovateEurope event.

FEU2013_attendees_logo_fin.jpg

  • ABN Amro
  • Accenture
  • AIB
  • Aktif Investment Bank
  • Alfa-Bank
  • Alior Bank
  • Allianz
  • Anthemis Group
  • Balderton Capital
  • Bank Hapoalim
  • Bank of Ireland UK
  • Bank Respublika
  • Barclays
  • BBVA
  • BNP Paribas Retail Banking
  • BRE BANK SA
  • CaixaBank
  • Capgemini
  • Capital One
  • Celent 
  • Commerzbank AG 
  • Cortal Consors 
  • DAB bank AG
  • Datamonitor
  • eMarketer
  • Ernst & Young 
  • Fidelity Investments 
  • Financial Times 
  • FINANSBANK 
  • Frumtak Investment 
  • GSB Ventures
  • IBM
  • IDC Financial Insights 
  • ING
  • Jack Henry & Associates
  • JSC Probusiness bank
  • KPMG
  • Liberty Bank 
  • Lloyds Banking Group 
  • MasterCard 
  • Microsoft 
  • Old Mutual Plc 
  • Ovum
  • PayPal 
  • PostFinance 
  • Rabobank 
  • RBS 
  • Ribbit Capital 
  • Russian Standard Bank 
  • Sberbank Russia 
  • Scottish Life 
  • SKAGEN 
  • Skandiabanken 
  • SpareBank 1 
  • Sunstone Capital
  • Swedbank 
  • SWIFT 
  • Thomson Reuters 
  • Troika Venture Capital 
  • UBS AG
  • Unicredit 
  • Visa Europe

If you’d like to join us, get your ticket today and be a part of FinovateEurope.

If you have any questions about the event, check out our FAQ or e-mail us at info@finovate.com. We’re looking forward to seeing you in London in February!

Finovate Alumni News– January 31, 2013

  • Finovate-F-Logo.jpgTechCrunch reports Braintree’s New Payments Layer Lets Users Sign Up For Apps Without Re-Entering Their Credit Card Data.
  • Mitek and Allied Payment Network Expand Availability of Mobile Photo Bill Pay.
  • Backbase and iQStore sign partnership agreement for Russian market.
  • Xero integrates with Harvest, a time tracking and invoicing software company.
  • CNBC’s Squawk on the Street features BOKU.
  • HID Global partners with BehavioSec to improve fraud detection system.
  • FIS acquires mFoundry for $120 million.
  • Facebook integration, customer management features added to Flint mobile app.
  • ACI Worldwide to buy Online Resources for more than $120 million.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Flint Adds Customer Management, Social Marketing to Mobile Payments App

Thumbnail image for Thumbnail image for FlintMobileLogo.jpg

The latest upgrade to Flint‘s mobile payments app looks to leverage both sides of the merchant/customer transaction.

The new iPhone app allows merchants to set up pre-set lists to make inputting transactions faster and more efficient. Customizable receipts make it possible to search and organize customers based on transaction details like product type and card used. These features potentially provide additional marketing tools, allowing, for example, targeted loyalty offers to selected receipts.

The new app also sports Facebook integration so customers to directly post ratings and reviews. For the those businesses that have avoided social marketing due to time limitations or integration concerns, Flint’s app makes it easier to get the customer to do some of the work.

More than 20,000 users have downloaded Flint since it was first available late last year, opting for the dongle-free approach to taking payments on the go. The average transaction has been more than $100.

Watch Flint’s most recent demo from FinovateSpring 2012 here.

FinovateEurope 2013 Sets New Attendance Record — Get Your Ticket Before They Sell Out!

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With twelve days still to go before FinovateEurope 2013, we are very excited to announce that the event has already blown past last year’s attendance of 550 to set a new record.

Ticket sales have surged this week with the revealing of the full presenter lineup (see below) and we’re expecting a capacity crowd (get your ticket soon before they sell out) to gather on February 12-13 at London’s Old Billingsgate Market Hall to see Europe’s latest fintech innovations.

The event will showcase cutting-edge innovations (sneak peak #1, #2, #3) in everything from online banking to retirement investing to mobile payments to small business lending and much more. The following 64 companies will take the stage to demonstrate their latest innovations: 

  • Acuity Systems
  • additiv
  • Akamai
  • ayondo
  • Azimo
  • Backbase
  • BBVA
  • Biletu
  • Birdback
  • BörseGo
  • Cardlytics
  • Comarch
  • CR2
  • Crédit Agricole
  • CurrencyFair
  • Dashlane
  • Device Ident
  • Dynamics
  • ERN
  • ETRONIKA
  • eWise
  • eyeOpen
  • EZBOB
  • Financial Simplicity
  • Finantix
  • Fiserv
  • Five Degrees
  • FreeAgent
  • GMC Software Technology
  • Heckyl Technologies
  • Holvi
  • IND Group
  • ITSector
  • Kabbage
  • Kalixa
  • Kalypton
  • Kantox
  • LeanBanking
  • Liqpay
  • Luminous
  • mBank & Efigence
  • Meniga
  • Metaforic
  • Mistral Mobile
  • Movenbank
  • NICE Systems
  • OPENTECH
  • PhotoPay
  • Pockets United
  • QuantConnect
  • rplan
  • SAGE
  • SumUp
  • Temenos
  • TESOBE
  • The Currency Cloud
  • TransferWise
  • True Office
  • Trustly
  • TSYS
  • Virtual Piggy
  • VoiceTrust
  • Xendpay
  • Yseop

If you’d like to join our audience of leading executives, entrepreneurs and investors to watch the cutting-edge of European fintech
debut, limited tickets are still available but are selling fast, so please lock in your seat today to guarantee your ability to attend. We’ll see you in London in a couple of weeks!

FinovateEurope 2013 is sponsored by: Bluerock Consulting, Financial Technology Partners The Bancorp & Yodlee

FinovateEurope 2013 is partners with: BankersHub, Celent, Finance On Windows, Financial Services Innovation Centre, The Financial Services Club, and Hotwire PR 

FinovateEurope 2013 Sets New Attendance Record — Get Your Ticket Before They Sell Out!

btn1_ov.png

With twelve days still to go before FinovateEurope 2013, we are very excited to announce that the event has already blown past last year’s attendance of 550 to set a new record.

Ticket sales have surged this week with the revealing of the full presenter lineup (see below) and we’re expecting a capacity crowd (get your ticket soon before they sell out) to gather on February 12-13 at London’s Old Billingsgate Market Hall to see Europe’s latest fintech innovations.

The event will showcase cutting-edge innovations (sneak peak #1, #2, #3) in everything from online banking to retirement investing to mobile payments to small business lending and much more. The following 64 companies will take the stage to demonstrate their latest innovations: 

  • Acuity Systems
  • additiv
  • Akamai
  • ayondo
  • Azimo
  • Backbase
  • BBVA
  • Biletu
  • Birdback
  • BörseGo
  • Cardlytics
  • Comarch
  • CR2
  • Crédit Agricole
  • CurrencyFair
  • Dashlane
  • Device Ident
  • Dynamics
  • ERN
  • ETRONIKA
  • eWise
  • eyeOpen
  • EZBOB
  • Financial Simplicity
  • Finantix
  • Fiserv
  • Five Degrees
  • FreeAgent
  • GMC Software Technology
  • Heckyl Technologies
  • Holvi
  • IND Group
  • ITSector
  • Kabbage
  • Kalixa
  • Kalypton
  • Kantox
  • LeanBanking
  • Liqpay
  • Luminous
  • mBank & Efigence
  • Meniga
  • Metaforic
  • Mistral Mobile
  • Movenbank
  • NICE Systems
  • OPENTECH
  • PhotoPay
  • Pockets United
  • QuantConnect
  • rplan
  • SAGE
  • SumUp
  • Temenos
  • TESOBE
  • The Currency Cloud
  • TransferWise
  • True Office
  • Trustly
  • TSYS
  • Virtual Piggy
  • VoiceTrust
  • Xendpay
  • Yseop

If you’d like to join our audience of leading executives, entrepreneurs and investors to watch the cutting-edge of European fintech
debut, limited tickets are still available but are selling fast, so please lock in your seat today to guarantee your ability to attend. We’ll see you in London in a couple of weeks!

FinovateEurope 2013 is sponsored by: Bluerock Consulting, Financial Technology Partners The Bancorp & Yodlee

FinovateEurope 2013 is partners with: BankersHub, Celent, Finance On Windows, Financial Services Innovation Centre, The Financial Services Club, and Hotwire PR 

Finovate Alumni News– January 30, 2013

Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg

  • Jemstep launches new Portfolio Manager service.
  • Aite Group names ACI Worldwide “Vendor to Watch” in 2013.
  • Acculynk‘s PayLeap now features API developer integration tools.
  • Figlo is 1 of 16 companies to join a global alliance with Microsoft.
  • American Banker reports Simple Enacts New Security Features.
  • All Things D lists Tuition.io as 1 of 2 companies to help college grads with empty pockets.
  • Netbanker reports: Movenbank Provides a Peek at its User Interface. Come check it out at FinovateEurope, less than 2 weeks away.
  • Experian extends Precise ID fraud prevention to online Social Security related services.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Movenbank Provides a Peek at its User Interface

imageTech startups help define the future in many traditional industries. Amazon in books, Expedia in travel, Tesla in automobiles.

But there’s been less disruption in retail banking than most industries, especially in the U.S. We saw ING Direct take some share in savings accounts, but not enough to really shake up the status quo. 

But we have some new players looking to change that and Movenbank is one of the most interesting. The Brett King-founded startup, armed with $2.4 mil in seed funding, is beginning to release more details as it prepares for its launch at our FinovateEurope event in two weeks.

In an email to customers today, the startup provided a few peeks at its Geezeo-powered PFM interface (screenshot below):

  • MoneyPulse: A snapshot of the your current financial situation with green/yellow/red dial so you know in a glance if there are problems.
  • Movenbank MasterCard PayPass sticker MoneyPath: More of a typical budgeting piece.  
  • Account aggregation: Beta users can already add accounts from several-hundred banks and credit unions; so unlike Simple, it appears Movenbank is supporting account aggregation out of the box
  • Spend | Save | Live: Primary navigation across the top of the dashboard

In addition, the "how it works" section shows a MasterCard PayPass sticker used for contactless payments (inset).

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Movenbank interface (from customer email, 28 Jan 2013)
Note: "Spend | Save | Live" navigation across top.
This appears to be a PC user interface, but it could be a tablet UI.

Movenbank user interface w PFM features