[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor fell 4 points to 92.4 in July, in response to a decline in confidence in the economy from consumers- especially those making less than $40,000. Consumers also grew more pessimistic toward their personal finances last month, which correlated with a decline in discretionary spending intentions. The…
The PCI Security Standards Council announced that the PCI DSS is now available in Russian. A Russian language microsite has been added to the PCI SSC website, which also includes translated supporting documents and resources for standards implementation. According to research firm Mercator Advisory Group, over the next two years, the number of cards in Russia is expected to increase to nearly 250 million debit cards and approximately 50 million credit cards. The PCI SSC website also supports translated pages and PCI materials in other languages, including: Chinese, French, German, Italian, Japanese, Portuguese, and Spanish.
AzeriCard card processing and OpenWay, a recognized leader in software solutions for the payment industry, improved mobile banking service with the WAY4 Cash By Code technology. By generating a code on a cellphone, this technology allows for withdrawing cash on an ATM without a plastic card. This convenient ‘mobile wallet’ proved appealing to clients of 14 of AzeriCard’s partner banks. The new service also works as instant money transfer to recipients without a bankcard. The mobile banking with the Cash By Code option was developed by OpenWay. The solution works on iPhone, Android and BlackBerry smartphones, as well as on Java-enabled feature phones. The mobile banking menu allows the user to type in an operation amount and select the preferred card and currency from the list.
TSYS announced that it supports Paynet, one of Kenya’s leading financial services providers to issuers and acquirers, in its ‘Great Migration to EMV Chip Card’ campaign. Paynet has been a TSYS client since 2004. It licenses PRIME 4, the latest version of the TSYS licensed card and merchant management solution, to manage its Visa card portfolio and provide a full range of outsourced front- and back-office card processing and fraud management services for financial institutions across Kenya and East Africa. Paynet initiated ‘The Great Migration to EMV Chip Card’ campaign to fight card fraud by urging banks and other stakeholders in the region to move toward the higher security EMV Chip debit/credit card standard.
CardConnect payment processing announced its acquisition of SmartPay online billing tool developed by Onsharp, an interactive agency that designs, builds and supports web-based technology solutions. The SmartPay enterprise billing tool gives a business’s customers the ability to receive, view and pay their bills online, eliminating the need for paper invoices. The tool is particularly beneficial for businesses that rely on invoicing – such as law firms, hospitals and manufacturers – and are looking for a way to streamline the process.
American Express and Isis announced that they will introduce American Express Serve to the Isis Mobile Wallet. The new co-branded account will be offered in every Isis Mobile Wallet as a part of a nationwide launch later this year, enabling millions of Americans to tap and pay using their American Express Serve account. By adding American Express Serve to the Wallet, customers will be able to pay bills online and send money to friends and family. They will also be able to add cash to their American Express Serve account or fund it using an existing bank account, any credit or debit card or through direct deposit. The Isis Mobile Wallet NFC technology allows consumers to pay, redeem coupons and present loyalty cards with their mobile phones. American Express’ U.S. Consumer and OPEN® Small Business Cards are currently available in the Isis Mobile Wallet.
Swiff mobility payment received approval for its Chip & PIN solution for use with Visa payments through the Visa Ready Program. The Swiff mobile payment Chip & PIN terminals will alleviate payment barriers for merchants, acquirers and customers by displacing cash and checks with mobile payment acceptance. This new step in the partnership between Swiff and Visa follows the announcement by Visa Inc. on June 5th, that Swiff had been selected as one of the leading mPOS providers to join the Visa Ready Program. The program is designed to provide innovators with an easy way to collaborate with Visa and gives merchants and consumers the peace-of-mind they need when transacting with a mobile phone.
JetPay announced it will change its NASDAQ ticker symbol to “JTPY” effective at the start of today’s trading (prior NASDAQ common stock symbol: “UBPS”). JetPay Corporation (formerly Universal Business Payment Solutions Acquisition Corporation) (“JetPay” or the “Company”) is making this change to reflect the Company’s name change to JetPay Corporation, announced on August 1, 2013. JetPay provides a vertically integrated set of solutions that meet business needs for card acceptance, processing, payroll, tax and other financial transactions. JetPay also offers card-based solutions for our customers’ employees to conveniently receive and spend their pay.
Bluefin Payment Systems is set to introduce a PCI-validated Point-to-Point Encryption (P2PE) solution validated through qualified P2PE assessor, 403 Labs, LLC, in 4Q/13. The PCI P2PE Standard requires a PCI-approved point-of-interaction device (POI) and HSM (hardware security module) key management; software solutions are not currently eligible for P2PE validation. Bluefin’s P2PE technology can be implemented in retail POS systems, in call centers, and in mobile devices and will interface with the company’s PayConex platform. This provides security features such as tokenization, end-to-end encryption (E2EE) and transparent redirection.
CashStar will present at this week’s Financial Mobility Summit in Las Vegas. Addressing the steps retailers can take to navigate a crowded field to realize success in mobile payments and loyalty, attendees will leave with the ability to apply lessons-learned to their mobile marketing strategies and will gain an understanding of the power of branded currency to deepen customer relationships and increase retail sales in-store, online, and via mobile. CashStar will provide retailers the practical roadmap for transforming gift cards to mobile payment cards, and mobile apps to branded wallets. Joined by executives from Clutch and Card.com, Cornfield will explain how the convergence of gift cards, offers and loyalty programs will enable retailers and brands to influence and capture a greater share of consumer spending, increase frequency and loyalty, combat showrooming, and more.
VeriFone Systems will begin installing payment systems for the new class of for-hire vehicles (FHVs) established to increase service to upper Manhattan and the New York City outer boroughs. New York City’s “Five Borough Taxi” plan enables the city to sell 6,000 street hail livery permits a year for three years. The new class of FHVs will be green in color and permitted to accept street hails north of East 96th street and north of West 110th street in Manhattan, and all of the other boroughs excluding the airports. VeriFone payment systems are now available to the new green FHV drivers who are required to have installed a Livery Passenger Enhancement Program (LPEP) approved integrated hardware and software system that includes a credit card acceptance device, a GPS unit, a driver information screen, and a passenger information screen enabled with an ADA-compliant payments system for the visually impaired.
MoneyGram distributed its first grants awarded through the MoneyGram Foundation. The Foundation, launched late last year, was established with a mission to help children around the world gain access to educational facilities and learning resources. The MoneyGram Foundation believes that education is at the heart of better economic opportunities, healthier families, and individual freedom and empowerment. Through the Foundation, MoneyGram grants funds to worthy organizations working to give children the best education possible. The MoneyGram Foundation chose eight organizations from hundreds of applicants. The programs span the globe, impacting thousands of children in six different countries and exemplifying the Foundation’s guiding principle of “inspiring minds and improving lives.” Currently, MoneyGram funds the Foundation through a monetary gift and access to in-kind resources. Recognizing the enormous need around the world for access to basic education, the Foundation plans to expand its funding support through contributions from others later this year.