Bluefin Payment Systems and SaaS providers announced its PayConexTM P2PE solution has been validated by a P2PE assessor approved by the PCI Security Standards Council, as having met the rigorous controls defined in the PCI SSC P2PE Standard for the protection of payment card data. Point-to-Point Encryption (P2PE) technology can help merchants simplify their PCI DSS compliance programs by removing clear-text cardholder data from a merchant’s environment and reducing the scope of PCI DSS requirements. The PCI Security Standards Council’s P2PE program provides a method for vendors to validate their P2PE solutions and applications, and for merchants to reduce the scope of their cardholder data environment by implementing validated P2PE solutions. PayConex P2PE encrypts credit and debit card data in a secure point of entry device before it is transmitted into a merchant’s point-of-sale (POS), virtual terminal or payment application.
The Electronic Payments Association announced that it is taking initial steps towards a ubiquitous, same-day ACH settlement capability. NACHA seeks to move the ACH Network from today’s single, next-day settlement to multiple, same-day settlement options that would be available for virtually any ACH Network transaction. The phased implementation approach outlined by NACHA proposes incremental functionality that will provide greater value to end users. This functionality would include multiple, new settlement windows, and greater certainty around faster funds availability; therefore providing a solid foundation on which to build innovative services into the future. NACHA is launching a study to assess the industry’s costs and potential transaction volume for same-day ACH.
WEX Inc. announced that Eric Duprat has been elected to the company’s Board of Directors. Mr. Duprat has more than 25 years of domestic and international experience in the mobile, security and payments industries, and is currently Chief Executive Officer of Verayo, a mobile security services turnaround firm in San Jose, California. Prior to joining Verayo in 2011, Mr. Duprat was the General Manager of Mobile Payments at PayPal, an eBay company, during which PayPal’s mobile payment business experienced tremendous growth. Prior to that, Mr. Duprat was Senior Vice President of Global Marketing at Hypercom, an industry leader in payment and networking systems.
Ziploop mcommerce app announced a $2.2 million seed round with Foundation Capital, Bill Elmore, JBM Ventures Partner, James B. Morris, Managing Partner at Greenback Ventures, James Peters, Managing Director at Texas Pacific Group, Ted Breck, Founder and former CEO at Barra, Andrew Rudd, General Partner at Inman Investment Management, Grant Inman, and General Partner at Canaan Partners, John Balen. Ziploop not only makes the life of the consumer easier, but also helps retailers analyze and better serve their customers. Ziploop allows retailers to rapidly engage with their users on seasonal offerings, while also saving on printing and postage costs.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express signed an agreement to create a JV for its Global Business Travel division. American Express will share ownership of the JV with an investor group led by Certares, by which American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities…
Fiserv, Inc.today announced that TD Bank has expanded its online money movement options through the addition of the Popmoney personal payment service* and TransferNow online funds transfer service. TD Bank online banking customers now have more ways to easily and securely send, receive and transfer money directly from their bank accounts. Popmoney enables customers to send money to almost anyone they know or owe using the recipient’s name and email address or mobile phone number, eliminating the hassles of cash or checks.
GE announced that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering (IPO) of its North American Retail Finance business. As previously announced, the IPO is the first step in a planned staged exit from that business. GE currently expects to complete the IPO later in 2014. After completion of the IPO, GE Capital Retail Finance will operate under its new name, “Synchrony Financial,” and the registration statement has been filed under that name.
American Express Company today announced that it has signed an agreement to create a joint venture for its Global Business Travel division (“GBT”). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing. In exchange for an investment of $900 million in the joint venture, the investor group will hold the remaining 50%. American Express initially announced its intention to pursue this joint venture transaction in September 2013.
U.S. Bank is extending its award-winning FlexPerks® Travel Rewards program into the business-to-business space with the launch of FlexPerks Corporate Rewards for commercial card programs. The rewards program will be offered as an optional add-on for U.S. Bank’s most popular commercial cards: the U.S. Bank Corporate Travel Card, the U.S. Bank Executive and Executive Platinum Cards, and the U.S. Bank One Card. FlexPerks Corporate Rewards offers organizations and their employees a new way to benefit from spending on cards. Flex points can be pooled at the corporate level to be redeemed at the organization’s discretion, or employees can be enabled to earn the points.
Fiserv, Inc. just announced an agreement to make Visa’s common debit EMV solution available for the Accel(TM) debit network. Under the agreement, Fiserv will adopt Visa’s common debit solution offering issuers, acquirers and merchants a simple, streamlined approach for debit EMV adoption. The agreement will help enable the development of regulation-compliant debit EMV solutions using a common Application Identifier (AID).
ZNAP™ announced today that the New York Sound City conference and music festival on March 17th in Williamsburg, Brooklyn will be the first U.S. event to feature ZNAP™’s NFC (near field communication) payment technology. During the event, ZNAP™ will unveil its NFC features to attendees, who will be the first consumers to test its tap-and-pay capabilities. In addition to facilitating mobile transactions, the ZNAP™ app enables consumers to manage loyalty points, rewards programs, coupons and special offers using their mobile devices. Promoters can activate capabilities designed specifically for festivals and live events.
It is with a collective heavy heart that US Dataworks, Inc. today announced the passing of its long-time Chairman and CEO, Charles E. Ramey, who died yesterday morning after suffering a severe heart attack from which he was unable to recover. The Company also announced that its Board of Directors has appointed John Penrod as its interim Chief Executive Officer. Mr. Penrod will continue in his role as the Company’s VP of Operations in addition to his new CEO duties. Joseph Saporito, an outside director of the Company, will take over the Chairman role with the Board seat left vacant by Mr. Ramey’s death to remain unfilled for the time being.