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Friday, December 12, 2014

PayPal as Independent Company faces competition after EBay spinoff - TruBeacon

Not only is PayPal going head-to-head with other mobile wallet providers such as ApplePay, Google Wallet, CurrentC and SoftCard, but the banks and their co-branded partners (retailers, airlines, hotels) are coming out with their own mobile apps that incorporate and create an advantage for their co-branded Visa (NYSE:V) or MasterCard (NYSE:MA) card," Phil Philliou, a former MasterCard executive and CEO of TruBeacon, told IBD.
"The good news is that we are all chasing a multitrillion-transaction pool, and any percentage of it is meaningful," Philliou said. TruBeacon is developing mobile apps that incorporate Visa or MasterCard credit and debit cards directly into the app.

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Wednesday, December 10, 2014

Q1 of 2015 will surpass all of 2014 for mobile fintech

Just looking at the TruBeacon Q1 pipeline... wow!

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Saturday, November 1, 2014

BusinessWeek: JetBlue Said in Talks to Drop AmEx as Credit-Card Partner

JetBlue Said in Talks to Drop AmEx as Credit-Card Partner

  Oct 31, 2014 1:56 PM ET  
JetBlue Airways Corp. (JBLU) is in talks to replace American Express Co. (AXP) as its credit-card partner, according to people briefed on the matter. 
The airline solicited bids from banks to replace New York-based AmEx, the people said, requesting anonymity because the discussions are private. That could result in a deal with a different network to process transactions, as well as a new card-issuing bank, one of the people said. AmEx may be among bidders, another person said. 
Airline partnerships are prized by credit-card issuers because they often come with annual fees and the promise of awards for free trips can lure customers to use their cards more often. American Express and JetBlue started their partnership, the airline’s only such arrangement, in 2005. 
“Any airline deal is a big deal for an issuing bank or network,” said Philip Philliou, a payments consultant who advised retailers and airlines on co-brand deals. “People spend more money on airline programs and more frequently.” 
AmEx’s contract with JetBlue ends at the end of 2015, one of the people said. 
Sharon Jones, a spokeswoman for New York-based JetBlue, declined to comment, as did AmEx’s Elizabeth Crosta.

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