Page 12 - GS170702

NewsBriefs

The Fed takes a read on noncash payment usage every three years. A report Tom Caporaso, Chief Executive
released by the Fed on June 30, 2017, is the first in an expected series drawing Officer at Clarus Commerce LLC,
on data collected last year from bank and nonbank payment services provid- said, "By rewarding Prime customers
ers. By number, noncash payments nearly doubled, from 72.4 billion in 2000 to ‒ both old and new ‒ with exclusive
144.1 billion in 2015. perks and deals, Prime Day serves
as a retention and acquisition event
AI sizzles, wearables cool in mPOS surveys for Amazon, and reinvesting in
Artificial intelligence (AI) and voice-activation scored highest in the 2017 State their customer base reinforces and
of Mobile Whitepaper, published July 5, 2017, by Open Mobile Media. Josh increases that loyalty."
Gordon, Head of Strategy at Open Mobile Media, said AI, natural language
processing and voice-activation outperformed wearable technologies. Mike Ackerman, President of DigiPay
Solutions Inc., added, "Amazon's
"With high numbers of respondents bullish about its prospects and the number July sales event is about more than
of projects being deployed increasing over the next year, it looks like AI will generating revenue in an otherwise
finally make the move from concept to reality," Gordon wrote. slow shopping month. Their larger
goal is to encourage shoppers to
Mobile World Daily reported that 48.2 percent of visitors and exhibitors at the sign up for a Prime subscription,
2017 Mobile World Congress saw the Internet of Things as the best business which offers free two-day shipping
opportunity for mobile operators in 2017. and other perks for members. This
membership locks customers in,
Prime Day a blockbuster for Amazon encourages them to be loyal and
spend more money with Amazon."
Amazon.com Inc. anticipated its third annual Prime Day, which took place July
11, 2017, would be the highest-grossing day in U.S. retail history. Greg Greeley, NAB completes TMS acquisition
Vice President at Amazon Prime, said revenues from Prime Day 2016 were 60
percent higher than the previous year. North American Bancard Holdings
LLC completed acquisition of Total
Merchant Services, making it the
seventh largest North American
payment processor in terms of
merchant locations, with annual
processing volume of nearly $50
billion. The combined entities plan to
expand product offerings and pursue
high-growth channels.

According to NAB Chief Executive
Officer Marc Gardner, the acquisition
signifies an important step in driving
strategic priorities forward for NAB.
"During this transformational time
in the payments industry, NAB is so-
lidifying its commitment to helping
businesses prosper by delivering in-
novative payment solutions and out-
standing customer service," he said."

Through this acquisition, TMS gains
NAB's processing capabilities, mer-
chant and sales partner portals,
onboarding tools and operational
resources. NAB realizes an addi-
tional $12 billion in credit and debit
card transaction processing through
TMS's established base of merchants.

12