NevoPay

Quote of the Day: "The secret to designing a good game is to attract the player"

2012-03-01T04:13:00.001-08:00

"The secret to designing a good game is to attract the player." Steve Kordek, who in 1948 at a pinball trade show, launched the groundbreaking 'Triple Action' game with two electrified flippers. The game stole the show and rendered every other arcade game obsolete.

U.S. indicts doctor in biggest healthcare fraud case in nation's history

2012-02-29T08:51:00.001-08:00

U.S. officials today announced the largest healthcare fraud case in the nation's history, indicting Dr. Jacques Roy, a Texas doctor, for allegedly bilking Medicare for nearly $375 million in phony billings. He is accused of bilking Medicare by recruiting homeless and other fake patients to sign for care that wasn't provided.

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The Idea Factory: Bell Labs and the Great Age of American Innovation."

2012-02-26T06:43:00.000-08:00

Jon Gertner is the author of the forthcoming “The Idea Factory: Bell Labs and the Great Age of American Innovation.” Read more about Innovation and the Bell Labs Miracle: http://nyti.ms/wigq59

Is the End of Sears near?

2012-02-24T10:21:00.001-08:00

Sears Holdings, which said it could run low on cash this year, just announced it plans to sell stores in transactions that the company hopes will raise nearly $800 million.

When Kmart bought Sears in late 2004, I thought it to be strange bedfellows. It is as strange and full of bravado as it would be if Walmart announced today that it bought Macy’s (if only Macy’s sold tools and washing machines).

At the time, pundits said it was a match as sweet and savory as putting chocolate and peanut butter together. The reality, it was more like putting Republicans and Democrats on the same side of a flag football game played on a muddy field.

The truth is, Kmart shoppers were (and still are) not the same people as Sears shoppers. The attempt at merging customers and cultures backfired. The question is if the experiment will somehow survive, or follow the path of a long string of once mighty retail powerhouses (does anyone remember Montgomery Ward?).

But the deals also highlight the major challenges that Sears faces as it tries to stop a multiyear slump in its operations. Lipstick on a pig, some retail experts around here are saying.

Giving up its most profitable stores in exchange for a quick cash infusion today, and expecting current shareholders to foot the bill could potentially leaving them more exposed than ever.

"As a matter of fact, spinoffs like these could leave Sears with a very unprofitable core Sears U.S. business," said Mary Ross Gilbert, an analyst with Imperial Capital, a brokerage firm in today’s New York Times.

Sears’ largest investor and chairman, Edward S. Lampert, is increasing his personal stake in the company. Mr. Lampert was behind the $11 billion merger of Kmart and Sears, Roebuck, in late 2004. His hedge funds now own 61 percent of the stock. Good luck Mr. Lampert.

Disclosure: No one in the office is fessing up to owning stock in Sears. However most of us have at least some Craftsman tools and an assortment of Kenmore products sprinkled around their homes.

Visa and Samsung Reveal Mobile Payments Application for the London 2012 Olympic and Paralympic Games

2012-02-24T09:57:00.001-08:00

Latest step forward in bringing mobile payments to London 2012 Olympic Games

LONDON, Feb 24, 2012 (via BUSINESS WIRE) -- Visa V +0.73% and Samsung today revealed the official mobile payments application of the Olympic and Paralympic Games. Samsung and Visa will debut the mobile payment application at Mobile World Congress, Barcelona, Spain from February 27th to March 1st. The application will be demonstrated at Visa stand (Hall 1, Stand 1B19) and Samsung stand (Hall 8, Stand 8B169). This marks the first step to realising the partnership between the two Olympic and Paralympic Games sponsors to bring mobile contactless payments to London as part of their support of the London 2012 Olympic Games.

The application is based on Visa's payWave technology that enables contactless payments at the Point of Sale. To make payments, customers simply hold the phone in front of a contactless reader at the point of purchase. Purchases above 15 pounds require a passcode. The application also lets customers check their transaction history and view their up to date account balance. Backed by the multi-layered security and reliability of Visa's processing platform, mobile contactless payments are protected by the same standard terms and conditions that apply to Visa cards.

"London 2012 is a unique opportunity to show the future of payments coming to life and leave a lasting legacy post-2012. The new mobile payment application is central to this showcase," said Sandra Alzetta, Head of Innovation at Visa Europe. "We are also working with a number of partners to put live mobile payment technology into consumer hands. We've recently announced the certification of a number of major manufacturer handsets for NFC payments, which brings mainstream commercial mobile payments a step closer to reality."

"Samsung is extremely thrilled to work with Visa to launch mobile payment services for the London 2012 Olympic Games. We believe that this showcase will motivate people to experience and adopt easy and safe payment through mobile devices. As a long-time Olympic partner and a mobile technology leader, Samsung is fully committed to providing our customers with reliable and convenient mobile experiences during the Olympic Games through our partnership with Visa," said DJ Lee, executive vice president and head of Sales and Marketing team of Samsung's Mobile Communications Business.

As a Worldwide Sponsor of the Olympic Games for more than 25 years and the Paralympic Games since 2002, Visa implements and manages the entire payment system infrastructure and network throughout all Games' venues. For London 2012, there will be more than 3,000 contactless terminals installed across the Olympic and Paralympic venues showcasing prepaid, contactless payments, mobile technologies, and other innovations.

About Visa Europe

As a leader in the development and implementation of payments technologies, Visa Europe is at the forefront of contactless and mobile payment innovation in Europe.

Visa Europe is owned and operated by more than 3,700 European member banks and was incorporated in July 2004. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission's objective to create a true internal market for payments. For more information, visit www.visaeurope.com

Gas prices rising, restaurants not yet suffering

2012-02-23T07:20:00.001-08:00

Prices at the pump have jumped steadily this year, but chains are confident on sales trends. Consumers historically have altered their purchasing behavior for things like restaurants when gas prices climb above $3 per gallon, said David Portalatin, director of industry analysis for market research firm The NPD Group. According to the U.S. Energy Information Administration, the average national gas price was $3.59 per gallon on Monday, up from $3.48 on Feb. 6, and $3.19 a year earlier.

China UnionPay Said To Be Launching Square-Like Card-Acceptance Device

2012-02-23T07:14:00.001-08:00

China UnionPay, China's national card network, soon may launch a mobile card-acceptance device similar to the one Square and other companies have launched in the U.S., according to media reports.

Coinstar, Starbucks testing automated coffee kiosks

2012-02-20T20:19:00.001-08:00

In partnership with Seattle's Best Coffee, an independently operated brand within the Starbucks portfolio, Starbucks and Bellevue-based self-service kiosk vendor Coinstar have teamed up to test an automated coffee machine that accepts payment cards.

Apple supplier Foxconn raises worker pay

2012-02-18T08:09:00.001-08:00

According to a Reuters report, Foxconn said it has raised the pay of its "junior level" workers in Shenzhen, China, to about 1,800 yuan, or about $290, each month, up from about 900 yuan three years ago. That works out to about $1.67 an hour, based on a 40 hour work week times 52 weeks.

$5 Gallon Gas by Summer?

2012-02-14T06:09:00.001-08:00

The Los Angeles Times reports today the American national average for a gallon of regular gasoline has rose above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it's likely a sign that price at the pump will rise to some of the highest levels ever seen later this year.

"Early February crude oil prices are higher than they’ve ever been on similar calendar dates through the years, and the price of crude sets the standard for gasoline prices," Kloza said in the LA Times, later adding, "We’ve lost a number of refineries in the last six months [to permanent closure. Some of those refineries represented the key to a smooth spring transition from winter-to-spring gasoline."

Some cities, like Los Angeles and New York, are already closing in on $4 a gallon, said Patrick DeHaan, a senior petroleum analyst for GasBuddy.com.

Oil prices remained at historically high levels on Monday, rising $2.23 to $100.90 a barrel on the New York Mercantile Exchange. That's 18% higher over a year ago. In London, oil rose 48 cents to $117.79 a barrel on the ICE Futures Europe Exchange.

Apple puts independent auditor on factory working conditions

2012-02-14T05:48:00.001-08:00

Apple has requested to the Fair Labor Association (FLA) to conduct special voluntary audits of its final assembly suppliers, including Foxconn’s factories in Shenzen and Chengdu, China. A special team of labor rights experts will be led by FLA president Auret van Heerden. Inspections started Monday at the Foxconn City factory in Shenzen. Other Apple suppliers, including Quanta and Pegatron, may undergo similar inspections in the spring. Apple has said more than 90 percent of Apple’s product assembly will be reviewed through the process.

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46% of phones NFC-enabled by 2016

2012-02-13T12:58:00.000-08:00

A new report just released by MarketResearch.com is predicting that approximately 46% of all mobile phones will be NFC-enabled by 2016. That’s up from just 5% in 2011.

Whitney Houston dies at 48, AP reports

2012-02-11T17:15:00.000-08:00

Los Angeles Times reports Whitney Houston, who reigned as pop music's queen until her majestic voice and regal image were ravaged by drug use, has died, the Associated Press has reported. She was 48.

Publicist Kristen Foster said Saturday that the singer had died, but the cause and the location of her death were unclear.

U.S. banks have issued over a million Visa EMV chip cards

2012-02-10T10:00:00.000-08:00

Visa Inc. reported this week that U.S. banks have issued more than 1 million Visa chip cards compliant with the EMV standard. Visa also introduced new EMV processing services to help hold onto card issuers who want to reduce their own investments in chip technology.

Google's purchase of Motorola Mobility expected to get approval

2012-02-09T08:10:00.001-08:00

The WSJ reports the U.S. Justice Department will approve Google's bid to buy Motorola Mobility for $12.5 billion, as soon as next week. According to other published accounts, European regulators are expected to make their decision by Monday. The Wall Street Journal reports that regulators remain concerned about the huge portfolio of patents Google will gain from the deal. The DOJ will closely monitor the company to ensure that the company licenses them to competitors on fair terms.

Quote of the Day: "Marketing is dead"

2012-02-08T12:55:00.001-08:00

"Marketing is dead," Saatchi & Saatchi worldwide CEO Kevin Roberts said in his opening keynote speech at MIDEM's Visionary Monday in Cannes (home to the Cannes Lions International Festival of Creativity). "We have got a much higher calling now. Your role is not to market stuff at people, but to create a movement. You've got to create a movement and inspire people to join your movement, whether that's an artist or a venue…We've moved from interruption to interaction."

Get On Board

2012-02-07T11:07:00.000-08:00

Be green and seen this spring by joining EcoCabs Brand-A-Bike Challenge.

EcoCabs is searching for Canada’s best brands to get on board and help us provide 193 days of eco-friendly transportation that is not only free of emissions, but free of cost as well.

Beginning this Earth Day in Toronto, consumers will get to enjoy a no-cost commute between the areas that they live, work and play, while doing their part to help the environment along the way.

In return, sponsors will have the opportunity to brand their EcoCab fleets and interact with consumers while on route, offering them everything from promotional messaging to free product samples. It’s a great way to connect with consumers while providing a value added free service that everyone enjoys.

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Quote of the Day: "This country can't be knocked out in one punch. We get right back up again, and when we do, the world will hear the roar of our engines. It's halftime, America."

2012-02-06T10:18:00.000-08:00

"This country can't be knocked out in one punch. We get right back up again, and when we do, the world will hear the roar of our engines. It's halftime, America." – Clint Eastwood in a 2012 Super Bowl ad for Chrysler.

Watch the ad on YouTube: http://youtu.be/_PE5V4Uzobc

Smartphone shipments exceeded those of PCs last year

2012-02-06T07:53:00.000-08:00

The Wall Street Journal reports that global smartphone shipments increased 63% last year, which propelled the devices past PCs for the first time, even with tablets included in the computer arena, according to Canalys. Phone-makers shipped 487.7 million smartphones -- 158.8 million in the fourth quarter -- compared with 414.6 million and 120.2 million for computers. Canalys also says shipments of Android phones were strong in 2011: The phones accounted for 48.8% of the devices sold, including 52% in the fourth quarter, while Apple's iOS platform had a 19.1% market share for the year. <<...>>

Price Is Deciding Factor in Choice of Fueling Location

2012-02-02T12:43:00.000-08:00

NACS releases results of its annual Retail Fuels Report. Price remains the dominant reason why consumers buy fuel at a particular location, according to the results from the new 2012 NACS Consumer Fuels Report. Nearly two-thirds of consumers (63%) rated price as the most important reason why they select a particular location for fueling. I can tell that based on the 15 minute line to buy gas at Costco today… <<...>>

Quote of the Day: "If opportunity doesn't knock, build a door."

2012-02-02T11:02:00.001-08:00

"If opportunity doesn't knock, build a door." - Milton Berle US television actor & comedian (1908 – 2002)

Quote of the Day: "If opportunity doesn't knock, build a door."

2012-02-02T10:59:00.000-08:00

"If opportunity doesn't knock, build a door." - Milton Berle US television actor & comedian (1908 – 2002)

Restaurants report strong sales, traffic in December

2012-02-01T07:52:00.000-08:00

The National Restaurant Association Restaurant Performance Index reached its highest level in nearly six years. “Aided by favorable weather conditions in many parts of the country, a solid majority of restaurant operators reported higher same-store sales and customer traffic levels in December,” said Hudson Riehle, the NRA’s senior vice president of the Research and Knowledge Group. “In addition, restaurant operators are solidly optimistic about sales growth in the months ahead, and their outlook for the economy is at its strongest point in nearly a year.” <<...>>

iPhone 5 to feature NFC, Game-Changer For Mobile Payments

2012-01-31T13:05:00.001-08:00

The new iPhone 5 will feature NFC, making it a bona fide game-changer for Mobile Payments, according to sources we spoke with at MacWorld/iWorld last week.

Upcoming Payment Conferences

2012-01-31T06:17:00.001-08:00

Join us at these upcoming Payments Conferences:

17th Annual Best Practices in Retail Financial Services Symposium
March 11-13, 2012
Boca Raton Resort & Club
Boca Raton, FL

Electronic Transactions Association Annual Meeting & Expo

April 17-19, 2012
Mandalay Bay
Las Vegas, NV

24th Annual Card Forum & Expo
May 8-11, 2012
Omni Orlando Resort at ChampionsGate
Orlando, FL

6th Annual Mobile Banking & Commerce Summit
June 10-12, 2012
Westin St. Francis
San Francisco, CA