VeriFone Systems announced its portable payment acceptance systems, the VX 680 and VX 675, have been deployed by e-finance to facilitate the state-sponsored transition of Egypt’s entire gasoline and petroleum products retail market to an electronic payment system. e-finance, Egypt’s first and largest payment gateway service, was awarded the modernization contract in May and has deployed one-third of an estimated 18,000 VeriFone portable payment solutions at gasoline stations throughout the country. The smart card-based system being implemented by e-finance ensures that Egypt’s Petroleum and Finance Ministries can control the quantity and value of gasoline being consumed. e-finance purchased the VX 680 and VX 675 from Systems Engineering of Egypt (SEE), VeriFone’s local distribution partner. The portable, handheld devices feature powerful processors and are designed for rugged environments where drops and spills are common and wireless connectivity options are required, enabling gasoline stations to reduce consumer wait times by quickly and reliably processing on the spot transactions, which are routed to e-finance’s gateway.
Evo Payments International acquired the Encore Group. The Encore Group, consisting of existing EVO strategic partners Encore Payment Systems, Prodigy Payment Systems and Momentum Payment Systems, is headquartered in Addison, Texas and provides payment processing solutions to small and medium sized businesses located throughout the United States and Canada. EVO has grown significantly by introducing leading payment solutions to the market, as well as acquiring domestic and international businesses. The Encore acquisition enables EVO to leverage Encore’s proven North American sales distribution strategies to drive further growth in EVO’s new international markets.
ProPay, a TSYS company, will provide nonprofits and organizations using Little Green Light LLC (LGL) online donation solutions with simple, secure and complete end-to-end payment processing services. So far in 2013, there has been a 21-percent increase in online donations in the U.S.*, and the trend is expected to continue in 2014. This growth will dynamically impact the need for processing and administration solutions in the donations space. With this new technology, nonprofits will be able to create customizable “donate now” forms for one-time and recurring donations via all major credit cards ” both U.S. and international ” as well as ACH transactions from U.S. banks.
CPI Card Group EMV and commercial card production received recognition in a new member program from the Smart Card Alliance called the Center of Excellence. The Smart Card Alliance Center of Excellence is a new recognition established by the Alliance in 2013 to acknowledge member companies who reach the highest level of active participation in the Smart Card Alliance. Inclusion in this elite level is directly related to a number of accomplishments and involvement companies have demonstrated in 2012-2013, including: Industry Council recognition for Honor Roll membership or Top Contributor to one or more of the Alliance’s Industry Councils; council officer position elected by peers; LEAP/CSCIP training and certification; corporate CSCIP training and certification participation; and supporting membership in the EMV Migration Forum.
Acculynk is now offering U.S. merchants the capability to accept China’s Union Pay PIN debit cards on their Chinese websites using the PaySecure International graphical PIN pad for UPOP authentication. U.S. e-commerce merchants interested in tapping into the large number of consumers in China must be able to accept Chinese payment methods, as well as authenticate a Chinese cardholder in order to make the sale. PaySecure International provides U.S. merchants the ability to accept and authenticate Union Pay cards with the same PaySecure PIN pad used for internet PIN debit transactions with U.S. cardholders. Airbnb, the world’s leading marketplace for booking, discovering, and listing unique spaces around the world, will be the first U.S.-based merchant to leverage PaySecure International to access the more than 3 billion UnionPay PIN debit cardholders. Chinese customers can now use their UnionPay debit cards to secure accommodations at one of Airbnb’s 300,000 listings worldwide.
Fundtech enlisted Customers Bank and its 14 branches to deploys its “ACHplus” to improve ACH automation. Fundtech’s ACHplus automates mission-critical ACH processes to allow U.S. banks to scale up the volume of their ACH business significantly, while at the same time reducing cost, improving customer service and increasing customer loyalty and profitability. With ACHplus, Customers Bank gets a single ACH research facility, enabling the bank to streamline ACH processing and reduce risks, such as human error and potential fraud.
hyperWALLET Systems global payment solutions is integrating its payment services with the PayNearMe electronic cash-transaction network. PayNearMe allows consumers to use cash to buy goods online, pay utility bills, make rent payments and repay loans, all via convenient printable or mobile barcode technology. PayNearMe’s innovative cash-payment option is processed at nearly 10,000 participating 7-Eleven® and ACE Cash Express® stores across the US. The integration with PayNearMe will enable hyperWALLET, whose global payment solutions and brandable prepaid-card products are utilized by over 150 corporations worldwide, to offer cash as a payment acceptance option for the first time. This new cash-payment acceptance capability will be available to hyperWALLET’s customers in early 2014.
American Express launched a new Use Points for Charges feature available in the American Express mobile app that gives eligible Card Members the option to redeem Membership Rewards® points for practically any purchase, from gas and groceries to clothing and manicures, all on their smartphones. Unlike rewards programs that only allow customers to redeem from a pre-selected list of options, Card Members now have the power to design their own rewards program and treat themselves by redeeming points for almost any purchase with an eligible American Express Card.
Morpho (Safran) announced that it will be the EMV* card supplier to Metrobank Card Corporation (MCC), one of the largest credit card issuers in the Philippines. Morpho will deliver nearly half a million EMV MasterCard- and VISA-branded credit cards to MCC. Morpho will provide the contact modules for its highly secure, global platform-compliant EMV product with a Java operating system, JMV Pro. The solution enables card issuers such as MCC to migrate their magnetic stripe cards to the more secure EMV chip card.
Picture Pay mobile photo bill payment app has seen 17 percent month over month increase in active end-users and 13 percent monthly growth in the number of items processed since its launch in November 2012. The product’s creators Mitek, Allied Payment Network and Malauzai Software Inc. also reported that 5 percent of active mobile banking users employed the feature in the first 90 days after its launch. That is above the usage figure of 3.5 percent for standard bill pay on the mobile device. Picture Pay allows users to complete a payment by taking a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution.
VeriFone Systems has been awarded a comprehensive managed payment services contract by Réseau Clubs Bouygues Telecom, the consumer retail affiliate of Bouygues Telecom, one of France’s largest fixed-mobile operators. VeriFone will provide its managed services software”PAYware Wynid”as well as helpdesk support, gateway services and VX 820 advanced PIN acceptance devices that support all types of electronic transactions. VeriFone’s VX 820 PIN pads will help Réseau Clubs Bouygues Telecom engage customers and drive revenues by delivering targeted promotional and branding messages to customers during checkout through the devices’ color touch screen. PAYware Wynid will consolidate and route all electronic payments made at each of Réseau Clubs Bouygues Telecom’s 400 retail stores through a single gateway that utilizes VeriFone’s encryption and tokenization services and is hosted in a PCI DSS validated hosting center.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 5.25% in September from last year to an adjusted $846B from 842.5B, the continued defenestration of positive momentum continues in 2013. Continuing to grow, the September revolving credit outstanding is still not as high as the 2008 figure of $1trillion and is…