FIS to Demonstrate mPayment Solution

FIS will be showcasing its Mobile Wallet with Cardless Cash Access at FinovateSpring 2013. A white-labeled, cloud-based mobile payment and offer redemption solution that allows financial institutions to fully brand and manage the customer experience, while offering consumers convenience and best-in-class security. The FIS Mobile Wallet enables the issuer to facilitate mobile commerce, maintain control of customer and transaction data and, most importantly, keep an institution’s brand at the center of the customer experience. Consumers benefit from the convenient and easy-to-use mobile solution as well as financially from coupons, loyalty programs and merchant-funded rewards.

SCIL-EMV Academy Forges EMV, mPayment Partnership

The Electronic Transactions Association (ETA), the trade association for the global electronic payments industry, and SCIL-EMV Academy, America’s EMV Training Experts, announced a new EMV and mobile payments training and education initiative. Designed exclusively for ETA Members, the program provides technical and business information and training to help the U.S. payments industry migrate to the new EMV chip based credit and debit cards. Initially, SCIL-EMV Academy will deliver five core workshops. EMV courses will be arranged privately onsite, online, and at SCIL-EMV Academy public workshops across the USA. The first EMV workshops will be administered in May, and will be available on ETA and SCIL-EMV Academy websites. For more information, ETA members should contact Stewart Chalmers at stew@emvacademy.com or by telephone at 818-681-3588.

SunGard Announces ATM & Reconciliation Solution

SunGard launched its IntelliMatch Operational Control solution for ATM & Card Reconciliation. This helps financial institutions achieve smarter operational efficiency by streamlining their ATM and Card reconciliation processes to help minimize costs and reduce risk. SunGard’s IntelliMatch Operational Control helps financial institutions deploy enterprise matching and reconciliation solutions. This helps with agile business growth through rapid on-boarding of new reconciliations, consolidation of infrastructure and processes for a lower total cost of ownership, and optimization of processes for greater business efficiency.

Western Union Wins Three Separate Prepaid Awards

Western Union global payments has won three separate awards for its stored-value programs. They include a PayBefore Europe Best-in-Category Award for “Best Prepaid Incentive, Reward, Rebate or Loyalty Card Program” for the Western Union MyWU Prepaid Card; The PayBefore Award for “Best Network-Branded Gift Card,” a nod to the company’s unique “Gift and Greeting Card” program in the U.S.; and the Banking & Payments Asia Trailblazer Award for “Product Excellence in Prepaid Payment” for the introduction of general-purpose reloadable (GPR) accounts in the Philippines and India. The platform enables the company to introduce new stored-value solutions in markets around the world by joining forces with local companies.

Revolving Consumer Credit Waning-Slightly

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up 7.75%. in February to an adjusted $848B, it slowed in March to $846B. Although rather stagnant against recent months, March revolving credit outstanding is way down from the year ago figure of $865.7B- an average figure over what would be the ensuing…

CPI Card Group Awarded US Patent for Card Packaging Technology

CPI Card Group financial, EMV, commercial card production has been awarded U.S. Patent No. 8,419,889 for its innovative secure card packaging technology utilized in CPI’s Ultra Secure Pack™ products. The technology allows CPI to offer a superior, tamper proof, cost effective product for point of sale card activation applications including open loop prepaid cards. CPI products covered by the patent will now be marked with U.S. Patent No. 8,419,889 to properly indicate CPI’s protected position and extend the benefits to their customers.

AARP Card from Chase Offers More Cash Back

Chase Card Services announced a new credit card for AARP members, offering cardholders 3 percent cash back on gas station and restaurant purchases, with no earning caps or points expiration and no annual fee. The card, designed to reward AARP members for their most common everyday purchases, also offers unlimited 1 percent cash back on all other purchases. By receiving 3 percent cash back on gas station and restaurant purchases and 1 percent on all other purchases, the average family can easily earn more than $250 cash back every year just by using the card. The new AARP Credit Card from Chase also offers customers a 10% discount when redeeming rewards for travel through Chase; Price, purchase, return and extended warranty protections – at no additional cost; and dedicated, personalized customer service 24 hours a day, seven days a week.

FIS Announces Multi-Year Agreement

FIS announced that Texas-based Industry Bancshares, Inc. signed a multiyear agreement to replace its four-year-old banking system with its core banking platform to deliver faster customer service as well as advanced online and mobile banking capabilities. The bank is also deploying FIS item processing and other complementary services. Converting onto the FIS core platform allows Industry Bancshares to deliver direct benefits to its customers by providing real-time access to customer accounts across all bank channels including mobile, online banking and bill pay, EFT networks and the traditional branches across its five banks.

Trustwave Certifies Another Payment Services Organization

NWP Services Corporation (NWP) utility cost recovery and management solutions has been validated as compliant with PCI DSS as a Level 1 service provider for the fourth consecutive year through Trustwave. Trustwave is provider of PCI DSS compliance management solutions. Moreover, NWP has enrolled in Trustwave’s on-demand compliance management solution, TrustKeeper, to maintain compliance with the PCI DSS and access the necessary tools to support on-going compliance such as external vulnerability scans.

Unemployment Continues Slow Decline

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Total nonfarm payroll employment was up 165,000 in April as the unemployment conversely dropped .10% to 7.5%. Having declined 0.4 percentage points since January, the unemployment rate is a reflection of the 11.7 million still unemployed, a 673,000 drop since January. Of this, the number of long-term unemployed (those jobless for…

SecureNet Announces New VP, Products

SecureNet Payment Systems payment technology operating system announced Nish Modi has been named VP, Product. Bringing over 17 years of payment experience managing, designing and architecting products and systems, financial services and eCommerce industries, Modi was most recently at eBay. Here he led the strategic direction for consolidating all billing, invoicing and payments across eBay’s adjacent entities as Senior Manager Platform Strategy. Prior to eBay, Modi led product management strategy for First Data Corporation’s flagship Internet banking and business banking products.

Alaric Launches New Secure Authorization Solution

Alaric fraud prevention and payments solutions is now offering its “myPinPad,” allowing cardholders to securely control the authorisation of payments via the entry of their PIN on touch-screen payment terminals, smart phones, tablets and online. The combination of myPinPad and Alaric’s Authentic solution for transaction processing delivers an end-to-end platform for mobile and online payments, with EMV-level security. This ensures secure processing of mag-stripe or chip cards and addresses the challenges of securely authorising card payments through its highly-scalable virtual EFTPOS and ATM platform, which presents the cardholder with a one-time virtual PIN pad – effectively moving the security elements of the transaction from the device and into the cloud. It ultimately mitigates risk and fraud protection and converts card not present (CNP) to card present with PIN transactions through a secure virtual PIN Entry Device (PED).