[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The latest MasterCard SpendingPulse report on September, indicating retail sales continued to weaken, peaking at only 4.7% in June of this year. September retail sales were up only 3 percent year-over-year, which was attributed to a significant drop-off in gasoline spending and no major growth in other sectors. With SpendingPulse consumer…
Intelligent Environments announced the appointment of former PayPal executive, Deborah Davis, to the role of non-executive director to provide strategic oversight and help drive an increasing number of major partnerships. Bringing more than 25 years of technology experience with 14 years in vice president roles at PayPal, eBay, Verizon Business and Symantec, Deborah will provide strategic direction and operational insight to drive forward Intelligent Environment’s aggressive international expansion plans, helping determine the strategic road map and new market entry for 2014 and beyond. She ran PayPal’s internal global credit and fraud risk teams out of 6 locations covering merchants and consumers in all of PayPal’s markets.
Chase Paymentech Announced its Safetech Page Encryption, helping merchants provide a safe and optimal shopping experience for their customers. Chase Paymentech is the first acquirer to offer this type of data-protection technology. Safetech Page Encryption encrypts payment data the moment a consumer enters her or his payment information into a web browser. The payment remains encrypted until it reaches Chase Paymentech, which processes the transaction. After authorization is obtained from the payment networks, Chase Paymentech employs Safetech Tokenization, a stand-alone solution included with Safetech Page Encryption, to replace customer payment data with a benign, secure value that cannot be converted back to payment or account information within a merchant’s network. Tokenized values are returned to the merchant to use for internal processes such as settling transactions. Should a merchant’s network become compromised, the cardholder’s data remains tokenized and not accessible to the threat. Thus, the risk associated with storing cardholder data is reduced. Plus, Safetech Page Encryption may lessen the costs for meeting and monitoring Payment Card Industry (PCI) compliance since the burden of managing cardholder data and encryption is removed.
The FIDO (Fast IDentity Online) Alliance announced MasterCard has joined and been appointed to the Board of Directors. FIDO 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.Open FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint and iris scanners, voice and facial recognition, as well as existing solutions and communications standards, such as Trusted Platform Modules, USB Security Tokens, Smart Cards and NFC. The open specifications are being designed to be extensible and to accommodate future innovation, as well as protect existing investments.
PayPal and the National Cyber Security Alliance unveiled the results from a new Zogby Poll highlighting the latest trends, concerns and misperceptions around mobile security and commerce. The survey is in support of National Cyber Security Awareness Month (NCSAM), an effort that educates millions of people each year about the importance of online safety and security. The national survey of more than 1,000 U.S. adults underscores how deeply entrenched in American’s daily lives mobile devices have become. For example, two-thirds of the people surveyed told us that their smartphone is never further than one room away, and one in ten said they keep their phone handy everywhere they go, with the possible exception of the bathroom. In addition, the survey highlighted the growing importance of mobile devices as a tool for shopping, with one in four respondents reporting that they complete at least one transaction per day on their smartphone, while one in six say they make at least 25 percent of all their purchases on their smartphone. The survey found that many people are open to new approaches to mobile security that would increase their safety. In particular, there are strong indications that many people are willing to take advantage of biometric technology to protect themselves against mobile security threats. The survey found that Americans are overwhelmingly comfortable replacing passwords with newer security technologies such as fingerprint identification (53 percent) and retinal scans (45 percent).
TransCentra, a leading provider of billing and payment software and services, has named Kevin Lee president of TransCentra’s software and technology group. Lee brings more than 15 years of experience in strategically guiding companies in the financial services technology industry, including leading several during times of rapid growth. Lee was previously president and CEO of CRE Secure, a leading cloud-based, secure payment solution, where he oversaw the organization’s technology development and overall strategic direction. Prior to CRE Secure, he was CEO of Skylight Financial, a prepaid debit card provider, where he was instrumental in growing and ultimately leading the sale of Skylight to Netspend to form Netspend Holdings in 2008.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data released its “SpendTrend” analysis for Aug. 31, 2013 through Sept. 30, 2013 compared to Sept. 1, 2012 through Oct. 1, 2012. Tracking same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, overall dollar volume growth was 5.3% in September,…
Citi Treasury and Trade Solutions (TTS) has significantly enhanced WorldLink Payment Services’ cross-currency payment capabilities. It offers an expanded ACH offering and an increase of global access to 140 currencies to further enable and support the evolving needs of global clients while Citi expanded its WorldLink low value cross border offering. Making local currency payments into rapidly developing economies is a key requirement for expanding companies. So that clients can benefit from faster settlement times and more efficient execution, WorldLink has increased the ease of making payments into Malaysia, Haiti and Bermuda.
Ben duPont, Mobeam’s lead investor, member of the board of directors and founder of yet2Ventures, appeared on CNBC’s Mad Money with Jim Cramer to discuss Mobeam and its Beep’nGo application will shake up the mobile wallet space. duPont demonstrated how Mobeam’s Beep’nGo app, one of Dr. Oz’s favorite apps, lets consumers easily keep all of their loyalty, gift and membership cards right on their smartphone and “beam” them straight to the scanners already in millions of stores. Mobeam, a light-based patented technology that enables smartphones to be read by everyday barcode scanners at point-of-sale, is transforming mobile commerce. In the gift card space alone, more than $41 billion in gift cards have not been used since 2005. Beep’nGo is exclusively available on the Samsung Galaxy S4 and the Samsung Galaxy Note 3.
clearXchange P2P payments network in the U.S. created by and for financial institutions announced its latest member, FirstBank. FirstBank customers will now be able to send payments from their existing FirstBank account safely and conveniently using only the recipient’s mobile number or e-mail address and without providing sensitive account information. With FirstBank, clearXchange continues its network expansion and drive to ubiquity, delivering value to customers of banks of any sizes. Nationwide, clearXchange banks represent more than 50 percent of the consumer online banking market. The clearXchange solution allows P2P payments directly from consumers’ existing deposit accounts through their bank’s convenient, secure online and mobile sites. There is no need to open a new account or conduct financial transactions away from their bank’s trusted site. When getting paid, funds are directly deposited into the consumer’s bank account. And customers get all the services and protections that they get today from their banks.
Chase Sapphire cardholders can purchase or redeem Ultimate Rewards points for limited-edition Sundance Film Festival packages. As a Presenting Sponsor of the Sundance Film Festival for the fourth year in a row, Chase Sapphire Preferred is the only rewards credit card to offer such preferential rewards packages for cardholders at the Festival.Chase Sapphire released Opening Weekend Packages October 9, followed by Closing Weekend Packages October 10.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] *Special Notice:* Unemployment statistics are currently not being updated due to the suspension of Federal government services. The last update to our unemployment statistics was September 9, 2013. During the shutdown period, Cardweb will not collect data or issue reports in this capacity. Updates to this data will commence when the…