Fraud and risk management technology leader Kount announced the launch of Kount Central to combat fraud at the payment processor level. Kount Central is designed to integrate with online payment processors such as acquirers, payment service providers, hosted pay pages and payment gateways, enabling each to help all their merchants reduce the negative effects of fraud. As breaches become more widespread, payment processors increasingly face the challenge of providing a trusted, integrated fraud solution to merchants that reduces fraudulent transactions, while mitigating fines and penalties from regulators. As new technologies are rolled out for point-of-sale terminals at brick-and-mortar retailers, it is highly likely that cyber criminals will move online, making the challenge of a fraud-free payment process even more pronounced.
Pre-tax profits among the nation’s top four bank credit card issuers increased 2.2% in the second quarter (Q2/14), compared to one year ago. Sequentially net income rose by 2.7%, according to CardData.
NYC-based ISIS, a joint venture between AT&T Mobility, T-Mobile and Verizon, has decided to change its name to SoftCard to avoid confusion and association with a violent Islamic militant group in the Middle East whose name, when translated into English, is known by the same acronym. The intention to change the name was announced in July and decision to use Softcard was announced this week.
Phishing attacks against the users of Bitcoin sites, notably wallet service Blockchain and the exchange site Coinbase rose in Q2/14. Payoneer’s prepaid MasterCard debit cards have also been heavily attacked.
Google Wallet adds prepaid card functionality by teaming with Blackhawk. Google Wallet users will be able to take a picture of their prepaid cards using their phone’s camera.
The CurrentC Network is a software-based solution that works with most existing point-of-sale and payment terminals. CurrentC will utilize a secure paycode and will not require additional hardware from most customers or merchants.
American Express, with its diverse financial products, lead the charge in marketing spending with nearly $1 billion in the 2Q/14, a 25% Y/Y increase. The other three networks all reported year-on-year declines in marketing expense.
Next generation physical payment wallets have entered the U.S. market. A new patent-pending accessorized wallet offers multiple styles of wallets can be interchangeable to the base electronics.
The UniPay Platform expands its utility for Check 21. The UniPay Platform provides a unified processing API for handling of credit cards, debit cards, EBT cards, pre-paid cards, gift, and loyalty cards, including management of points and rewards.
A new partnership will drive digital currencies by enabling merchants the ability to safely accept digital currencies without taking on market volatility. Apriva and GoGoin will lead the way.
SIX Financial Information emphasizes its dedication to providing an innovative and targeted ASP solution to the financial industry with the new release of the VDF Event Diary. The new VDF Event Diary 5.0 comes with a wide range of new features based on industry feedback. One important extension is the possibility to search and filter for detailed tax information like the final withholding tax, financial transaction tax, EU interest income taxation and local taxes per market. Another important feature allows clients to work on different portfolios and sub-portfolios within the VDF Event Diary. Each customer can define multiple sub-portfolios based on their own instrument universe. In addition, business users can use the filter to focus on the corporate actions that are the most relevant to them.
Visa offers cardholders free roses this weekend to heighten awareness of its new Visa Checkout option. Visa is also launching a multi-million dollar North American consumer marketing blitz.