ElectraCard Platform Announces Latest Payment Suite Upgrade

ElectraCard Services (ECS) announced Acleda Bank upgraded to its electra iTx series payment suite. ECS played a very crucial role and provided ACLEDA Bank Plc. with a flexible and scalable platform that empowered them to expand and differentiate their offerings. The Bank anticipates their customer acquisition to double over the next five years, adding to their existing one million account holders. With the new payments processing system – electra iTx series, ACLEDA Bank Plc. will be able to rapidly expand its ATM network, start UPI, MasterCard and JCB issuance and acquiring along with existing VISA connectivity, and adding new delivery channels, BNAs and kiosks. The electra iTx series platform is a next generation PA-DSS certified secure transaction platform, built from the ground-up on open standards and industry best-practices to support a service oriented architecture (SOA) that is fast becoming the technology backbone of today’s leading organizations.

Equinox Payments Partners Infinite to Offer miOS Payment

Equinox partnered with Infinite Peripherals mPOS devices to offer a mobile payment solution that is compatible with Apple iOS by integrating IPC’s Linea Pro™ for the iPod touch® or iPhone®, or the Infinea Tab® for the iPad®. Empowering Apple handheld devices with a barcode scanner and a magnetic stripe reader, both the Linea Pro and Infinea Tab work with custom software to create a mobile system for POS, as well as inventory management, asset tracking, ID verification and lead tracking. To date, IPC has deployed more than 300,000 of its mobile POS devices nationwide. IPC will be able to offer its customers remote key injection capabilities on its POS-related devices, utilizing the Equinox Remote Key Injection (RKI) platform and thereby maximizing convenience, efficiency and cost-effectiveness.

NFC and SIG Form Relationship

The NFC Forum and the Bluetooth Special Interest Group (SIG) announced the signing of a Memorandum of Understanding that will enable the two organizations to work more closely together, via a formal liaison relationship. The NFC Forum and the Bluetooth SIG have collaborated previously, most recently in the creation of a developers’ guide entitled “Bluetooth Secure Simple Pairing Using NFC,” which was jointly published as an Application Document available to the public. Under the new agreement, the two organizations will work together to update and maintain the Application Document to accommodate Bluetooth Smart products using the Low Energy feature of the Bluetooth specification.

MasterCard Joins Smart Cities Council

Smart Cities coalition to advance smart city development and innovation partnered MasterCard for a turning point in the development of innovative digital transaction processing platforms for city government, businesses and citizens. MasterCard will work with the Council’s advisors and members to provide cities with better, safer and more secure payment methods. Technology has been the single largest change agent in the ongoing transformation of the finance function. Electronic payment processing has increased convenience, security and transparency, and has contributed to reduce administrative costs. MasterCard will also contribute to the Smart Cities Council Readiness Guide to improve the livability, workability and sustainability of the world’s cities. The Readiness Guide is a collaborative and comprehensive resource that provides a step-by-step roadmap, vendor-neutral technology recommendations, evaluations and case studies for smart city development.

Elavon Promotes NA President From Within

Elavon global payments provider promoted Guy Harris President, NA, to oversee operations in USA and Canada. Having joined Elavon in 2010 as Managing Director of Western, Central and Southern Europe (WCSE), Harris drove growth in Elavon’s WCSE region and led from the front employing a customer-centric approach. He previously was VP, Global Sales for Misys, a leading global supplier of IT solutions to the banking industry. While there, he delivered revenue through 5 regional sales heads – Europe, MEA, Americas, Asia and Strategic Accounts, and he transformed the sales team structure to increase productivity throughout the organisation. He brings 25 years of IT sales management experience to the role.

Heartland to Offer AmEx Merchant Financing

Heartland Payment will be the first processor to distribute American Express Merchant Financing, giving small businesses access to highly price-competitive alternative financing solutions and be able to obtain loans based on their annual card processing volume. American Express’ Merchant Financing is designed to provide immediate capital to finance short-term investments and be paid back over a 12-month period, thus avoiding long-term debt commitments. In contrast to traditional commercial lending vehicles, Merchant Financing provides convenient access to capital up to $750,000″enabling even more small business owners to finance their growth needs, stay competitive and enhance their businesses.

Debit Card Spending Losing Footing on Credit Card Spending

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Spending for goods and services on general purpose and private label consumer and commercial credit, debit, and prepaid cards reached $4.633 trillion in 2012, and is projected to reach $7.285 trillion by 2017. This indicates the more than 20-year trend that had debit card purchase volume and purchase transactions gaining share…

USA Technologies Posts Revenue Up 23% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies wireless, cashless payment and M2M telemetry solutions posted a fiscal 1Q/14 23% increase in license and transaction fee revenues to $8.5 million. Meanwhile, there was a 21% increase in total revenues to $10.1 million and a net income of $293,654 from $39,140. License and transaction fee revenues, which represented…

Trust One Payment Services Appoints Seasoned VP, Operations

Trust One Payment Services credit and debit card transaction processing company Charge Payment Appointed Michael Campbell VP, Operations. Bringing more than 25 years’ experience in the payments processing industry, he has developed an outstanding reputation for his work, particularly in risk management, fraud, credit, portfolio management and acquisition, analytics and policy. Since April 2012, he has served as a Senior Risk Consultant for The Strawhecker Group, a management consulting company focused on the global electronic payments industry. He was most recently Chief Credit Officer and Head of Merchant PCI at WorldPay. This after having served as VP, Credit with Chase Paymentech Merchant Services, and VP, Head of Credit, at Chase Merchant Services.

Trust One Payment Services Appoints Seasoned VP, Operations

Trust One Payment Services credit and debit card transaction processing company Charge Payment Appointed Michael Campbell VP, Operations. Bringing more than 25 years’ experience in the payments processing industry, he has developed an outstanding reputation for his work, particularly in risk management, fraud, credit, portfolio management and acquisition, analytics and policy. Since April 2012, he has served as a Senior Risk Consultant for The Strawhecker Group, a management consulting company focused on the global electronic payments industry. He was most recently Chief Credit Officer and Head of Merchant PCI at WorldPay. This after having served as VP, Credit with Chase Paymentech Merchant Services, and VP, Head of Credit, at Chase Merchant Services.

Fime Establishes Discover Contactless Testing

Advanced secure-chip testing provider, FIME, has established a testing infrastructure and conducted laboratory test services for the Discover contactless D-Payment Application Specification (D-PAS) products. This will verify that these products meet robust security requirements, international industry standards and achieve global market interoperability. FIME prepared a contactless D-PAS test specification for both chip-based payment cards and acceptance terminals, which formed the basis of FIME’s work to develop and launch a customised test plan and test tool, which will be used by FIME’s laboratories, product developers and acquiring banks to confirm that Discover contactless products perform as intended once launched.