CashStar announced that it will join leading specialty retailer Aéropostale to help Card Not Present (CNP) Expo attendees learn about, and successfully navigate, the fastest growing trend in prepaid: the shift to digital and mobile. The CNP Expo provides a meeting place for merchants, banks, processors, anti-fraud software providers, legal experts, alternative payment providers, card networks, and others to learn how to leverage CNP payments in an increasingly multi-channel retail sales environment. CashStar Chief Risk Officer Pete Kledaras will be joined by David Libenson, vice president of financial operations at Aéropostale, and Jim Shanahan, CEO of Prepaidian. The fastest growing trend in prepaid cards is their transition from physical cards to digital and mobile currencies and marketing them for omni-channel use. Industry data shows the under-banked, teens and, increasingly, affluent consumers who don’t want the security risks associated with using a credit card, began using both open- and closed-loop prepaid cards online and on-the-go via smartphones in a big way this past holiday season.
ParTech announced that Fogo de Chão recently installed PAR POS terminals. Fogo de Chão (fo-go-de’e-shoun) is an authentic Brazilian Steakhouse with 24 locations in the U.S. and 9 locations in Brazil. Fogo de Chão has selected the PAR EverServ(R) 7000 POS hardware family as the standard POS for all new store openings and replacements or upgrades at existing stores in the U.S. Fogo de Chão initially deployed the EverServ 7000 terminals for its new flagship restaurant in New York, which opened on December 19, 2013. EverServ 7200 terminals are used at the server stations and EverServ 7700 Low Profile terminals are used at the hostess station for seating guests and taking reservations.
The FIDO Alliance, an industry consortium revolutionizing online authentication with standards for strong authentication, announced that Visa, the global payments technology company, has joined. With this, Visa been appointed to the Board of Directors. Also, Visa Europe will join the alliance as a sponsor member and will be represented on the board by Visa Inc. FIDO Alliance members commit to share technology and collaborate to deliver open specifications for universal strong authentication that enables FIDO-compliant authentication methods to be interoperable, more secure and private, and easier-to-use. FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint, eye and iris scanners, voice and facial recognition, as well as further enabling existing solutions and communications standards, such as Trusted Platform Modules (TPM), USB Security Tokens, embedded Secure Elements (eSE), Smart Cards, Bluetooth Low Energy (BLE), and NFC.
FIS banking and payments technology won “Best Mobile Banking Technology” at the 2014 World Finance Technology Awards.The World Finance Technology Awards, produced by international financial magazine World Finance, were created to celebrate “achievement, innovation and brilliance” in technological advancements. Nominations are based on reader insight, and are judged by a panel with more than 230 years of financial and business journalism experience. In addition, each award winner is carefully reviewed by a research team to make sure its work is of the highest caliber. This is the fourth major award FIS’ mobile business has received in the last six months, including: 2014 Frost & Sullivan Customer Value Enhancement Award for FIS Mobile Wallet, 2013 Best in Class Mobile Banking Vendor Overall by Javelin Strategy & Research No. 1 in Top 3 Mobile Banking Vendor Standards and Customized Solutions and No. 1 in Top 3 Mobile Banking Standard Solutions by Javelin Strategy & Research.
CyberArk has released a new white paper demonstrating how retailers can comply with the latest PCI DSS regulations, Securing Privileged Accounts: Meeting the Payment Card Industry Data Security Standard 3.0. The paper outlines how organizations can navigate increasingly stringent compliance regulations by locking down the most targeted attack vector – privileged accounts. Securing privileged accounts is not only one of the most important aspects of protecting cardholder data, it is critical to maintaining control over the IT infrastructure itself. The newly released regulations outlined in version 3.0 underscore the importance of shared responsibility when working with third-parties and requires all entities to align with its regulations by December 31, 2014. CyberArk provides a comprehensive approach to help organizations comply with PCI DSS and protect cardholder data. With CyberArk, organizations can implement effective security to:
Euronet Worldwide has completed the acquisition of U.K.-based HiFX. The acquisition complements Ria, Euronet’s existing money transfer business, by expanding its offerings to include online-initiated, account-to-account international payment and foreign exchange services to high-income individuals and small-to-medium sized businesses. Under the terms of the purchase agreement announced on March 10, 2014, Euronet acquired HiFX for approximately [Pounds]145 million or $242 million. The purchase consideration was comprised of approximately 1.3 million shares of Euronet stock and approximately $185 million in cash, including approximately $78 million of cash on hand and approximately $107 million funded using Euronet’s revolving line of credit. HiFX, now a wholly owned subsidiary of Euronet, will present its financial results with Euronet’s existing money transfer segment.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Target first quarter net earnings of $418 million, with adjusted earnings per share down 13.9%. To improve performance, Target has made changes to the management team and are investing additional resources to drive U.S. traffic and sales, improve Canadian operations and advance ongoing digital transformation. The Company is projecting a 2Q/14…
Fiserv and the University of Connecticut School of Business announced that Fiserv is participating in the university’s Financial Accelerator Program to help educate students and foster innovation. UConn MBA students are now collaborating with area business leaders from Fiserv and two of its clients, the Savings Bank of Danbury and Greylock Federal Credit Union, to explore how financial institutions can attract and serve Gen Y consumers using state-of-the-art banking technology. This also introduces UConn MBA students to the DNA™ account processing platform from Fiserv. DNA is a modern, enterprise-wide software platform that is relied upon by hundreds of banks and credit unions, including Savings Bank of Danbury and Greylock FCU, for transaction processing, data management and customer relationship management. DNA offers a unique development toolkit – DNAcreator™ – that allows users to create seamlessly integrated applications called DNAapps™ that extend the platform in new and powerful ways. At the conclusion of the Financial Accelerator Program, UConn students will present a business case for creating a new DNAapp that DNA users like Savings Bank of Danbury and Greylock FCU can use to enhance the millennial banking experience.
American Eagle Credit Union is the first credit union in Missouri to deploy NCR’s new interactive, remote video technology to deliver personal teller services to its members. This offers members live video interaction. The NCR Interactive Teller lets the credit union offer members the benefits of the personal service experience of a branch via a drive-up unit. Interactive Teller acts as a “virtual teller window”, giving members the ability to make transactions as they would inside the branch such as withdrawals, deposits and payments, transfers, and check cashing. The new technology will lower processing costs and provide faster transactions. One service representative can attend to as many four machines at multiple branch locations, enabling the employees at those locations to focus on in-branch member connections.
The number of Cards-In-Force (CIF) for the four major U.S. payment card networks rose 4.6% year-on-year (Y/Y) during the first quarter of 2014 (Q1/14). Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS) reported 1173 million U.S. CIF at the end of Q1/14, compared to 1121 million one year ago.
InComm today announced the launch of InComm Mobile Platform (IMP) for mobile wallet providers and merchants. IMP integrates with multiple platforms to provide a full-breadth of capabilities required to process mobile payments made using prepaid cards at retail POS. The platform also enables InComm to develop and host mobile applications for merchants and partners. Canadian communications and media company Rogers is the first company to leverage IMP for development of the recently launched suretap™ wallet.
Raymond James Bank has chosen Fiserv for an enterprise-wide banking solution. Centered on the Signature® bank platform, the total Fiserv solution set for Raymond James Bank includes Aperio™ for business process management, Nautilus® for enterprise content management, Prologue™ for financial management, Corillian® Online for online banking, CheckFree® RXP® for bill payment, and solutions for debit, ATM and item processing. Signature is a complete, real-time, SOA-based solution that delivers customization, system integration and business process improvement to traditional and nontraditional financial institutions around the world. Highly scalable in mid-to-large size institutions in 45 countries and 21 languages, Signature provides a flexible, cost-effective solution for account processing.