[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa announced the creation of Visa Digital Solutions, a comprehensive suite of offerings that facilitate secure payments across a broad range of Internet-connected devices and wearables. In 2014, commerce initiated with mobile phones and tablets is expected to total $114 billion in the U.S. alone, according to research firm Forrester. Two-thirds…
Charge-offs continue to drift to record lows in the second quarter. For example, Bank of America reported credit card charge-off ratio for the second quarter was 3.11%, a 99 bps decline from one-year ago. RAM Research predicts bank credit card charge-offs, among the “Big Four,” will decline four bps for the third quarter to 3.20%.
TSYS announced it has upgraded to its PRIME 4 card management solution for C. Hoare & Co independent private bank. This will support the bank’s Visa credit and debit card portfolios C. Hoare & Co. is one of the financial institutions across 70 countries that license TSYS PRIME issuer or acquirer solutions. The bank has been a TSYS client since 1992 and upgraded from an earlier version of the platform in order to take advantage of PRIME 4’s future-proof architecture, integrated workflows, increased automation and richer functionality.
MoneyGram money transfer and payment services company and Canada Post extended their agreement to provide MoneyGram services at Canada Post locations through 2020. Through this collaboration, MoneyGram will continue to offer fast and convenient money transfer services at more locations in Canada than any other provider. In addition to domestic and international money transfers, MoneyGram also offers bill payment services at Canada Post locations, providing consumers the ability to make payments for necessities such as phone services, home mortgages or automobiles.
Iris Analytics GmbH Promoted its Managing Director to Chairman. Hanns-Michael Hepp will oversee the prevention and control of electronic payment fraud in his new role. He helped established IRIS Analytics GmbH in 2007. Hepp also helped develop IRIS. His first significant involvement in the German banking industry was to establish credit cards as a mass market product in Germany. During his tenure as Head of Banking Sales at GZS Gesellschaft für Zahlungssysteme mbH, the niche product consisting of 230,000 cards issued in 1984 to 4 million cards in 1993, making MasterCard the dominant credit card in Germany. Hepp has published several scientific papers on fraud prevention and risk control, and pioneered the practical use of artificial intelligence techniques to fight payment fraud in real-time. He previously served on the MasterCard International Security Committee between 1993 and 1997.
New TSYS ProPay solution offers access to the largest trusted identity network of shared intelligence, and provides insight into positive and negative behavior and threat intelligence ” for both online personas and devices ” using trust-based authentication. The secret weapon is the ThreatMetrix Global Trust Intelligence Network.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UL qualified its Collis EMV Personalization Validation Tool through MasterCard. Professional testing of personalized MasterCard EMV/PayPass cards is essential to ensure global card acceptance. In addition, debit MasterCard cards issued in the U.S. must support the MasterCard AID and the U.S. Maestro AID in order to fulfill unaffiliated network routing requirements…
Botswana deploys high tech ATMs in a deal with Bytes Managed Solutions, Barclays and NCR. However, substantial adjustments had to be made to the ATMs for the Botswana market. Currency note templates had to be developed and then tested rigorously for correct note detection and rejection.
LendingTree launched its personalization platform, providing consumers with completely free credit scores and analysis, access to monthly updates, detailed account insights and proactive, market-based offers to illuminate potential savings opportunities across multiple loan categories. Once a free account is created at LendingTree, users are provided with their current credit score using VantageScore 3.0. Introduced in March of 2013, VantageScore 3.0 is the first credit score model to be built on post-recessionary data, and it has the ability to generate a credit score for 30-35 million more consumers than traditional credit scoring methodologies. The VantageScore model is a tri-bureau credit scoring model that is uniquely able to be deployed at all three national credit reporting companies (CRCs), Equifax, Experian and TransUnion, resulting in more consistent credit scores and less confusion among consumers.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Shazam Network has announced an with MasterCard to provide all members of the Shazam Network with an EMV license for MasterCard products. The intention with this agreement is to provide merchants and issuers routing choice for contact and contactless payments supporting PIN, signature or no cardholder authentication. The Shazam Network…
POS and cashless vending solutions accelerate Apriva’s rapid growth since 2010. AprivaPay Plus, Apriva Vend, Apriva POS Universal Application, Apriva Campus Solutions and Apriva Integration Services all contributed to the huge success.
Top Visa and MasterCard issuers continue to realize the rewards of lower delinquency as ratios drop significantly in the second quarter to new bottoms. Chase, the nation’s top issuer. posted a 20 basis points (bps) sequential decline and a 28 bps annual decline in 30+ day bank credit card delinquency in the second quarter.