Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups.

DataCash Partners Phoenix Managed Networks

DataCash – A MasterCard Company, is teaming up with Phoenix Managed Networks (PMN) IT network provider to further enhance its merchant payment solutions with PMN’s enterprise-strength network security and management service.
The combination of industry-leading Chip&PIN payment processing technology provided by DataCash and PMN’s PhoeniXSentry network security and management service, delivers both an affordable and advanced end-to-end managed security service for maximum protection of in-store IT traffic, for retail environments of any size. The PMN solution will allow DataCash merchants to easily and comprehensively protect their Point of Sale transaction data by separating payment and non-payment related internet traffic, thus ensuring the risk of potential data breach is significantly reduced.

Fico Integrates Fraud Management System in Latest Partnership

Fico partnered with 41st Parameter of Experian to fight fraud on card-not-present (CNP) transactions. FICO is integrating 41st Parameter’s TrustInsight™ with the FICO® Falcon® Platform, which protects 2.5 billion card accounts and is used by more than 9,000 financial institutions worldwide. Authenticating the device being used in a transaction provides yet another layer of detection to the Falcon Platform, which includes proprietary analytics based on more than 30 patents. FICO’s research shows that total card fraud grew 13 percent in the U.S. from January 2012 to September 2013. CNP fraud accounted for nearly half of credit card and debit card fraud during this period. 41st Parameter’s TrustInsight™ solution provides a real-time analysis of a transaction, crowd-sourced from a network of merchants, that produces a TrustScore™ indicating whether the transaction is likely to be genuine and should be approved.

Spire Payments names Kamran Yazdanjoo head, global product development

Spire Payments appointed Kamran Yazdanjoo Head of Global Product Development. Kamran brings to the role over 25 years’ experience and will be responsible for co-ordinating development activities in Spain, England, Scotland, Hong Kong and Russia, and spearheading the delivery of platforms and applications to support the company’s payment solution strategies. Before joining Spire Payments, Kamran served on the Board of Directors of Cubic Transportation Systems Limited as Director of Open Payments. In this role he led new product innovations and the strategy for open payments including mobile and NFC. Prior to this, Kamran was the Vice President of Global R&D at VeriFone Inc., with responsibility for products and services.

BitPay Appoints Former Visa Exec CCO

BitPay named Tim Byun as its Chief Compliance Officer. Formerly the Anti-Money Laundering/Anti-Terrorist Financing Officer of Visa, Tim began his new role for BitPay at the Digital Banking Summit conference June 2 talking about The Digital Future. Byun previously served as Visa’s head of Global Credit Settlement Risk, leading anti-money laundering programs to maintain Visa’s compliance. Before joining Visa, he was an Examining Manager with the Federal Reserve Bank of San Francisco’s Division of Banking Supervision and Regulation for nine years. He earned his MBA from the University of California, Los Angeles and his Bachelor of Science in Finance from the University of Southern California.

Volante ships SADC Payments IS0 20022 conversion pack

Volante announced the release of its latest ISO 20022 Accelerator; the SADC Payments IS0 20022 Conversion Pack. The pack is designed to help firms comply with the new harmonized local payments infrastructure being created within the Southern African Region. The SADC Payments Conversion Pack contains a range of software modules that provides all SADC rules and message components in pre-built cartridges. The combination of pre-built components plus Volante’s proven ISO 20022 payments processing software enables any bank to convert to a SADC payments processing environment quickly and efficiently. With Volante ISO 20022 product, firms are able to insulate themselves from changes to future standards as well as leverage the technology for use in other business areas with global and regional ISO 20022 projects.

Monitise Announces Latest Branchless Banking Client

Monitise banking technology partnered Kredi Bank to offer Nuvo ‘branchless banking’ service with mobile commerce capabilities. This allows customers to open accounts and complete all their transactions via mobile and internet banking, Nuvo enables consumers to manage their money and take advantage of mobile shopping and commerce services in their own time and from anywhere. Account features include competitive interest rates, free account transactions and money transfers, and perks such as Yapı Kredi’s World Gold or Play Card loyalty programs. In addition to delivering banking convenience, Nuvo offers exclusive shopping benefits to its users, including discounts and reduced delivery costs. Nuvo is currently available on iOS and Android, in both Turkish and English.

Green Dot Supports Visa Prepaid Card Designation

Green Dot Corporation supports Visa’s recently announced designation for consumer reloadable prepaid products in the U.S. The new designation is aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. Green Dot Corporation is the largest provider of reloadable prepaid debit cards in America with its products sold in more than 90,000 retail locations nationwide.To qualify for the new Visa prepaid designation, prepaid programs must meet a set of standards outlined by Visa that relate to simplified fees and transparent disclosures as well as superior consumer protections.

VerifyValid Announces Latest Credit Union deal

Lake Michigan Credit Union (LMCU) is partnering VerifyValid electronically-delivered check payments (eChecks). This lets members to quickly and easily receive, manage and deposit VerifyValid eChecks directly into their accounts.
eChecks combine the speed and convenience of electronic payments with the safety, familiarity, and information of paper checks, and can be sent from any computer, tablet or iOS phone. eChecks are currently used by individuals and businesses, such as Grand Valley State University, one of West Michigan’s largest employers, to pay many of its vendors. Additionally, the rate of eCheck usage is increasing nationally through partnerships between VerifyValid and Deluxe Corporation. Financial institutions can offer the VerifyValid eLockbox technology using no new equipment, no software installation, and requires no maintenance or service calls. LMCU can add it to a member’s account in minutes.

Venmo Button

Venmo has developed a way to tip a favorite artist, or donating to a good cause, or other money that enables people to continue doing what matters. The new Venmo Button is a new way to accept tips, donations, and other optional payments. It’s trivial to embed on a web site, and receiving payments is just as frictionless as you’d expect from Venmo.

DFC Global Stockholders Approve Lone Star Takeover

DFC Global Corp international diversified financial services company serving primarily unbanked and under-banked consumers announced at the Company’s special meeting of stockholders a majority of the outstanding shares of DFC Global common stock voted to approve the acquisition of DFC Global by an affiliate of Lone Star Funds (“Lone Star”). Houlihan Lokey Capital, Inc. is acting as financial advisor to DFC Global in connection with the transaction. Pepper Hamilton LLP is acting as DFC Global’s legal advisor. Jefferies LLC is acting as lead financial advisor to Lone Star Funds and Credit Suisse Securities (USA), LLC is acting as financial advisor. Jefferies Finance LLC and Credit Suisse AG are providing debt financing commitments for the acquisition.