2Checkout appointed Shawn Budde as CEO. Bringing with him over 25 years experience, Budde has held executive roles at Citibank and Capital One; data analytics experience at Sears Holdings; and as co-founder and President at ZestFinance, a VC-backed technology company. Budde earned a B.A. from Columbia University and an M.B.A. from the Wharton School at the University of Pennsylvania. At ZestFinance, Mr. Budde teamed with Google’s former CIO to reinvent lending methods by using large-scale data analysis and machine learning to lower the cost of credit for the highest risk customers. At 2Checkout, Budde plans to apply similar approaches on a global scale to help the company accelerate its market expansion in online payments.
Nok Nok Labs announced that Samsung and PayPal have selected the company’s NNL™ S3 Authentication Suite to enable the new mobile payment system introduced at Mobile World Congress. The next Samsung Galaxy S5 smartphone will enable seamless and secure mobile payments via an integrated Fingerprint Sensor (FPS). The S3 Suite from Nok Nok Labs allows both Samsung and PayPal to provide a simpler, more secure mobile shopping experience, leveraging the emerging FIDO™ standards.The NNL™Multifactor Client (MFAC) Mobile Edition (also called the “NNL FingerPrint Passport”) allows the Galaxy S5 Fingerprint Sensor to connect securely to online services, and will help Samsung enable users to authenticate any FIDO Ready™application with the existing security capabilities of their device. PayPal has deployed the NNL™ Multifactor Authentication Server (MFAS) to provide a unified and flexible authentication infrastructure that communicates securely with the NNL client on the Galaxy S5. Both Nok Nok™ products are FIDO Ready, meaning they have been certified by the FIDO Alliance.
Vesta Corporation announced the launch of vSafe, a new payment gateway that eliminates the cost of transaction fraud for e-commerce and m-commerce merchants. Leveraging Vesta’s proprietary and patented fraud technology modeled on over one billion electronic payments, vSafe evaluates orders using business-specific models that maximize real-time transaction acceptance and isolate merchants from transaction fraud. In addition, the quick-to-deploy API features full-service global payment capabilities and data protection features designed to significantly reduce PCI compliance requirements.
Singular Payments announced today that industry expert Marty Hilber has joined the company as its General Manager, overseeing day-to-day business operations. Charles Yancey, Founder & President of Singular Payments, and Vaden Landers, Chairman & Managing Partner, noted that Hilber’s appointment was necessitated by the significant growth and expansion the business has experienced resulting from the signing of numerous strategic partnerships, as well as the launch of various new product development initiatives.
Springboard Retail announced The Pink Stores Lilly Pulitzer Signature Stores has launched mPOS as part of a major store transformation project. In The Pink’s eight stores are located in Massachusetts with flagship stores on Newbury Street in Boston and on Nantucket Island. They piloted the project in their Boston store where they removed the cash wrap and stationary POS terminals went 100% mobile. They are using Apple’s iPads and iPad minis powered by Springboard Retail. The results from the first 11 days of In The Pink’s rollout of mPOS reveal a 24.5% increase in sales over the same period in this store a year ago. Transaction count was up 6.5%, transaction value was up 17%, units per transaction was up 12% and total units sold was up 19%. In The Pink repurposed 48 square feet of floor space and reclaimed full floor to ceiling use of 6.5 feet of prime wall space. The Nantucket store is next to undergo the transformation.
Quick Fuel has partnered with Comdata to provide its fleet customers with one of the fastest and most secure means of fueling available. Quick Fuel recently purchased Comdata’s fuel site controller, known as SmartSight, for all of its retail locations and added Comdata’s SmartQ™ radio frequency identification (RFID)-based technology to offer an extra level of speed and security to the fuel transaction process. In addition to processing transactions quickly, SmartSight processes fueling transactions securely as well. The card reader equipment meets industry security standards, while an integrated camera function allows site owners to view customer images as the card is swiped to identify potentially fraudulent users when necessary.
RewardsNOW loyalty programs launched loyalty programs for three new clients during the first quarter of this year, a variety of new loyalty programs now being implemented, whether it is a brand new program for a financial institution, an upgrade and conversion of an existing program, or a tailored retailer and wholesaler program. In partnership with CO-OP Financial Services, RewardsNOW worked with Michigan Community Credit Union. Additional partnerships were made with Sterling United Federal Credit Union and Tri-State Dental Supply.
As the United States credit card industry is turning towards EMV enabled cards, merchants will have to upgrade their terminals in order to be able to process retail payments. While most merchants currently still use MSR credit card processing equipment, MagicPay Merchant Services, a South Florida-based company, is now offering EMV equipment for free to its merchants. The offer will make it convenient and priceless for current and new merchants to upgrade to the new EMV chip technology. The merchant services industry is being evolved every day with new technology, regulations, and security measures in order to protect card holders and decrease fraud. While countries like Canada has adopted EMV technology long ago, the United States is still behind and plans officially to launch EMV as a requirement for all merchants (except fuel dispensers) by October, 2015.
Merchants and service providers can now download hundreds of high-quality PCI policy templates from the undisputed global leader at pcipolicyportal.com. Since 2009, pcipolicyportal.com has been assisting companies all throughout the word, from Cape Town, South Africa to Charleston, South Carolina, so turn to the trusted experts today for industry leading PCI policy templates.
Fime payments consultancy launched a customized consulting offer to help US payment card issuers and acquirers accelerate their move to secure EMV chip payments.Designed specifically for the unique and complex U.S. payments industry, FIME’s EMV chip consulting packages can ensure successful, cost-effective and efficient migrations for organizations of any size and at any stage of implementation. FIME has extensive experience consulting issuers and acquirers on global EMV chip implementations from initial education through to successful implementation.
The average purchase transaction for a MasterCard-branded card in the APMEA (Asia Pacific Middle East Africa) region hit $94.14 in 2013, nearly double the average purchase transaction of $55.72 for U.S. MasterCard credit and debit cards. Meanwhile, the average purchase tickets on U.S. MasterCard debit cards has been relatively consistent since 2009, but MasterCard’s average purchase ticket for U.S. credit cards has grown significantly from $80.68 in 2010 to $88.09 last year.
Payment technologies innovator Merchant Warehouse® today announced its partnership with hospitality mobile payments leader TabbedOut. The partnership will serve to co-market each company’s payment solutions, making mobile payments and digital marketing and loyalty programs a reality for thousands of businesses nationwide.