Digital River Commerce-as-a-Service solutions added bitcoin as a payment option for merchants that are selling online in the United States and using its small to mid-sized commerce solution. Bitcoin will now be available along with other international payment options, such as credit and debit cards, wire transfers, bank transfers and third-party wallets. Digital River’s small to mid-sized ecommerce solution provides online merchants with multiple platforms and tools to successfully build, manage and grow profitable ebusinesses on a worldwide basis. Priced affordably, the solution is based on a do-it-yourself ecommerce model with short click-through contracts, global ecommerce features and customizable e-store set-up options.
Seamless and The PCMS Group have signed a collaborative agreement to further strengthen SEQR’s presence in the UK and the US. The agreement between PCMS and Seamless is a key component for big retailers in the UK and the US waiting to activate SEQR. PCMS is a key point of sales provider for top tier retailers so this he agreement opens up PCMS large client base on both markets. THis partnership sees payment solutions for all devices across their many sales channels.
Groupement des Cartes Bancaires CB is currently evaluating the use of biometry in payment transactions and is expected to approve a strong authentication standard, defined by Natural Security for use in the CB system. The objective of the authentication method defined by the Natural Security Alliance is to simplify and secure payments. The cardholder simply has to place his or her finger on a biometric reader in store or at an ATM to validate a payment or cash withdrawal. The first CB approval will involve the association of biometry and a chip integrated into a keyfob. Integration of the chip into a micro-SD card of a mobile phone is also being studied. Highly convenient, the user keeps the keyfob or telephone on his or her person, for example in a pocket or handbag, without needing to present it physically to pay or withdraw cash.
Jordan Kuwait Bank (JKB) launched the ICS Banks from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions. JKB replaced many legacy systems, one of which was an in-house system, and twenty five banking satellite systems. The main requirement for the bank was the application of a fully-fledged bank -in- a- box solution that provides a full range of modules and incorporates a flexible group model. JKB has implemented ICS BANKS to offer modern products through the use of the newly applied suite of applications that cover Core Banking, Remittances, Credit Facilities & Risk Groups, Lending, Trade Finance, Treasury & Investment systems and Wealth Management. The bank also deployed other supporting systems such as, ICS BANKS Retail and Corporate IBS (Internet Banking System), Fixed Assets, Provisioning, in addition to BI (Business Intelligence) and Data Warehousing.
Inside Secure completed the agreement with Intel Corporation. INSIDE Secure extended the pre-existing worldwide perpetual license it had with Intel into a broad, royalty-free and fully paid-up license, with INSIDE Secure retaining ownership of most of the related IP assets and rights. It has also transferred to Intel its MicroRead-v5 next-generation NFC hardware and software modem technology currently under development, together with certain related tangible and intangible assets, including certain IP assets. At closing INSIDE Secure received USD 19.2 million in cash from Intel.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The payment card processing business continues to heat up as BAMS, the top U.S. payments processor, a joint venture between First Data and Bank of America, sets up operations in Canada. Based in Toronto, the new organization will provide a full suite of products and services – ranging from payments and…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Digital River (DR) has seriously expanded its global Partner Network with several new deals. SheerID, Translations.com and Yandex.Money are all new DR partners. SheerID, a provider of real-time eligibility verification solutions, which helps companies protect special offers by instantly verifying customer segments online, including members of the military, college students and…
Pinnum for business provides business owners the ability to execute mobile transactions, reinforce customer loyalty, and deliver continuous marketing. The app is free to consumers, and pinnum will supply each business with marketing materials to assist in their promotion.
Jumio mobile credentials management company released Netswipe for Mobile Web, the next version of its award-winning Netswipe card scanning technology that is designed to improve the customer experience and increase conversion rates for purchases made on connected devices. Netswipe was previously available for native apps and desktop websites, but this expands Netswipe’s availability to mobile websites, allowing customers on all platforms to benefit from a faster, easier way to input their credit card information. Jumio’s proprietary computer vision technology brings speed and ease-of-use to credit card entry and ID verification processes. By eliminating 60 seconds or more of key entry time from each transaction, conversion rates increase an average of 30 percent. Jumio credit card scanning implements smartphone and desktop cameras to streamline the payment process.
First Data Corporation today announced that Grupo Unicomer, a leading retailer of furniture, appliances and electronics in Central America, South America and the Caribbean, will use VisionPLUS® Flex as their core processing system for all their retail brands in the 19 countries in which they operate.
International (excluding the USA) Gross Dollar Volume (GDV) for Visa (VS) and MasterCard (MC) credit cards rose 6.3% year-on-year (Y/Y) in the first quarter (Q1/14).
MC’s growth in international credit cards GDV outpaced VS by 280 basis points (bps), according to CardData.
Joshua S. Rosenblatt has joined the Frost Brown Todd (FBT) Nashville office as part of the firm’s new electronic payments industry team. With experience representing and advising clients in complex mergers and acquisitions, securities law and general corporate law, his practice has primarily been focused in the electronic payments and healthcare industries. He has served as lead associate counsel for several mergers/ acquisitions in the $100-750 million range, while also having assisted small start-ups, large entities and public companies in a wide scope of operational and strategic business matters. Rosenblatt will oversee the electronic payments industry team to serve clients in this technology driven and rapidly evolving industry both domestically and globally. Frost Brown Todd’s Nashville team is anchored by more than 30 attorneys counseling current and future business leaders.