[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Economists at Global Economics Group released a new study examining the impact of the Durbin Amendment on consumers, retailers, and banks showing consumers will lose more than $22 billion as a result of the price caps on the interchange fees banks receive when consumers pay with a debit card. It also…
SEQR is making its first international market entry with its mobile payment application. In conjunction with GarantiBank the app is made available to its customers, who now have access to the most complete mobile payment solution available on the market. More than 200 stores are already signed and Subway Upground, the Bata and For Family networks, Bierhaus 67 and AVE Hotels in Bucharest are among the merchants that are live at the launch. SEQR will also be implemented nationwide in the Nike, Collective, Folli Follie, Converse, KIX, Calvin Klein Jeans, Star Place and Arsis networks, as well as Tabiet teahouse and Antipa coffee shop. Downloaded from iOS AppStore or Google Play, the application connects the user’s current GarantiBank account to the retailers’ cash register or online system via a QR code. GarantiBank is the first financial institution to make SEQR available in Romania.
Aditya Birla Minacs is recertified as a Level 1 Service Provider with the PCI DSS, obtaining the highest level of compliance in 2013, Minacs is listed in both the Visa and Mastercard registries of compliant service providers. This certification includes credit card issuers, acquirers, retailers, payment processors and merchants. Minacs is expanding its global reach by achieving Visa and Mastercard PCI compliance in Europe and Asia Pacific and recently completed Safe Harbor certification and registration. The US-Europe Safe Harbor Framework, which was approved by Europe in 2000, is an important way for US organizations to avoid experiencing interruptions in their business dealings with Europe or facing prosecution by EU member state authorities under their privacy laws.
CreditCall payment gateway and EMV Chip and PIN expert launched its mPOS Toolkit Partner Programme for app developers at Apps World London. The mPOS Toolkit – including the CardEase Mobile SDK (Software Development Kit) – provides app developers with the tools they need to incorporate EMV certified Mobile Point of Sale (mPOS) card acceptance within their iOS and Android business applications. Joining the CreditCall Partner Programme will provide developers a fast route to market with unique access to a revenue stream from on-going referral payments. CreditCall’s mPOS Toolkit includes the CardEase Mobile SDK – which consists of the required API, precompiled native development libraries for iOS and Android and a development guide – a fully certified and EMV approved PINpad, a test platform, a transaction management and reporting tool, and access to CreditCall’s technical support team.
PayPal Here for iOS and Android smartphones has been giving UK businesses of any size the opportunity to take card payments via the PayPal Here card reader wherever they do business. After being adopted by thousands of businesses across the UK and allowing them to take card and PayPal payments face to face, a brand new version of the PayPal Here UK app designed especially for the iPad is now available. PayPal Here for iPad is designed for small and medium sized businesses that want to give their customers the flexibility to pay how they want. Taking advantage of the additional screen space of the iPad, PayPal has incorporated some handy features such as giving businesses the ability to set up product options and category lists to make order entry fast and easy. PayPal has also incorporated Red Laser, eBay Inc’s leading bar code scanner, allowing businesses to scan an item’s barcode for faster checkout.
Tieto and PetroCard have implemented a 3-D Secure issuing solution for Visa payment cards, thus enabling PetroCard to provide banks with a safe service for online shopping. During the project Tieto has implemented the Verified by Visa 3-D Secure authentication solution and assisted PetroCard in the certification process with Visa International. 3-D Secure is an online service designed to improve the safety of online transactions through cardholder identity authentication at the time of purchase according to Visa regulations. During the online payment, the cardholder is redirected to their card issuer bank website and requested to enter a special password.
Diebold settled a lawsuit it filed in February 2013 in the U.S. District Court for the Northern District of Ohio against NuSource Financial for undisclosed terms. In its complaint, Diebold alleged, amongst other claims, that NuSource infringed Diebold’s U.S. Patent No. 6,672,505, as well as various Diebold copyrights, by selling refurbished Diebold automated teller machines (ATMs) installed with unauthorized copies of Diebold ATM software. NuSource denied Diebold’s allegations and any liability to Diebold.
Fiserv announced that Cole Taylor Mortgage, a division of Chicago-based Cole Taylor Bank, has deployed its LoanServ platform to support its expanding loan servicing portfolio and further develop its full-service mortgage banking capabilities. Cole Taylor Mortgage is also rolling out LoanLink™, a consumer-facing self-service website for its borrowers provided by Fiserv. LoanServ automates all loan servicing processes, including integrated default management and collections, cashiering, escrow, and investor accounting for both closed-end and revolving loans. With the LoanServ solution, data transactions are available online in real-time to ease compliance risk and eliminate the limitations associated with an end-of-day batch processing cycle.
Piraeus Bank has been certified once more, according to the international PCI DSS, which lies on security of online transactions using credit and debit cards. This certification is a well-known standard and compliance obligation for all parties involved in card data management, such as merchants, credit institutions, organizations, companies, etc. It is noted that Piraeus Bank is the only bank in Greece and the broader geographic region that is PCI DSS certified, demonstrating in practice our dedication to online transactions in which the Bank has significantly invested.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Employment Trends Index (ETI) increased in September to 114.78, up from 113.98 in August and is 6.3 percent higher than a year ago. September’s improvement in the ETI was driven by positive contributions from seven of its eight components. The increasing indicators ” from the largest positive contributor…
3Delta Systems online credit card processing joined Enterprise Payment Solutions as the exclusive North American sales agent for Enterprise Payment Exchange (EPX), a SAP®-certified payment and tokenization solution that will allow SAP users to accept, process and secure customer credit card payments directly – without having to bolt on third-party middleware, as many businesses do now. SAP users will also be able to save money by lowering their company’s credit card interchange fees when adding invoice-like information known as Level-3 line-item detail as part of each customer card purchase. This advanced technology combines 3DSI’s next-generation Payment WorkSuite® processing and secure CardVault® credit card tokenization services with EPS’ SAP and payment processing capabilities. With this combination, enterprises can quickly and easily manage customer sales orders, authorize and settle customer credit card payments and fortify their own network security by substituting confidential cardholder numbers with placeholder tokens – all within their SAP system.
TransferGo announced it’s UK operation today. The platform has already seen £3 million transferred with £1.5 million transferring in September alone and since inception, the service has had a fast-growing adoption rate by over 10,000 users – all looking for a lower cost and faster service for overseas remittances. Where TransferGo differs from other competitors that are also operating in this disruptive space, is that it has its own unique infrastructure, making it the cheapest* service that guarantees its users a safe and secure next-day payment. TransferGo’s growing number of users range from parents sending money to support their families at home, to businesses paying offshore invoices; foreign students transferring money for UK tuition to retirees transferring pensions to support their life in the sun – they all benefit from a fully transparent system that does away with the high fees (up to six per cent) that some banks charge to transfer cash abroad.