Instant payment card issuance is gaining more popularity in the wake a recent data breaches. EFT Source’s Card@Once is a great example as NY-based Parks Heritage Federal Credit Union is implementing the solution.
SMB (Small Mid-Market Businesses) are also in the crosshairs of fraudsters. About 58% of defrauded micro and small businesses ($100K-$10M in annual revenue) experienced misused credit card accounts last year, while 52% of middle-market businesses ($10M-$500M in annual revenue) experienced credit card fraud in 2013.
Two existing payment apps in New York City’s yellow and green taxis, RideLinQ from Creative Mobile Technologies (CMT) and VeriFone’s Way2ride, have to introduce a new and improved passenger payment experience. Now, passengers will have the flexibility to use either app to securely and conveniently pay cab fares using their smartphones in any one of the nearly 20,000 yellow and green taxis in New York City.
The payments industry will need to accomodate smartwearable devices quickly. Global retail revenue from smart wearable devices will treble by 2016, before reaching $53.2 billion by 2019, compared to the $4.5 billion expected this year. The market will be driven by an increase in sales of premium smart watches and smart glasses over the next five years.
SD-based Capital Prepaid Services and its bank partners have launched the reloadable BlazePays Visa® Prepaid Card..The new card is currently issued through First Savings Bank of Beresford, South Dakota, and First National Bank of Ft. Pierre, South Dakota.
NJ-based Horizon Healthcare Services, the state’s oldest and largest health insurer, is leveraging ACI’s UP Bill Payment solution to power mobile, web, IVR, call center, card and ACH payment options on one integrated payment system.
CardWeb’s CardExecs database today features Charles Harris, President of NetSpend. NetSpend is a wholly-owned subsidiary of TSYS.
More than three out of four mobile applications will fail basicsecurity tests through next year. More than 90% of enterprises use third-party commercial applications for their mobile BYOD strategies, and this is where current major application security testing efforts should be applied.
TSYS and iMobile3 have teamed to facilitate merchants processing transactions from the recently unveiled Apple Pay with the cloud-based PassMarket Platform.. More than10,000 merchants and 5 million consumers are currently using PassMarket-branded mobile storefront applications.
American Express’ U.S. Small Merchant Group has partnered with Birchbox, Bonobos and Rent the Runway to present Online’s Day Off, a two-day event that kicks off with a thought-leadership panel on September 18, followed by a one-day shopping event on September 20.
Visa has deposit $450 million into the litigation escrow account previously established under the Company’s retrospective responsibility plan (the “Plan”). Under the terms of the Plan, when the Company funds the litigation escrow account, the value of the Company’s Class B shares – which are held exclusively by U.S. financial institutions and their affiliates and successors – are subject to dilution through an adjustment to the conversion rate of the shares of class B common stock to shares of class A common stock.
It’s not just the big banks, big networks, and big retailers entering the new Apple Pay domain, it is also big credit unions. The world’s largest credit union with $60 billion in assets has thrown its hat in the ring.