Experian renewed its strategic partnership with Nationwide Building Society, by which it will provide credit reference and electronic authentication services for at least the next three-years. Nationwide will use Experian’s credit bureau data, to better assess new applications for credit, manage existing customers’ access to credit and lend responsibly throughout. The building society will continue to use Experian’s Delphi for Customer Management (DCM) software, Delphi for New Business scores and Delphi Data Block – a set of credit variables enabling clients to help build bespoke scorecards using Experian data. All three include highly predictive models and event monitoring to identify changes in the credit behavior of customers, enabling the organisation to make better customer credit management decisions. In addition, Nationwide will verify, validate and authenticate customers’ identities, as well as prevent fraud through Experian’s online authentication services. Nationwide will also migrate to Experian’s “ExPin” credit bureau platform to help companies gain the most comprehensive view of each customer.
Aptys Solutions payments network provider for financial institutions nationwide, offering the industry’s only unified platform to support all aspects of payment processing, announced Mainstay Group, a management consulting company whose unique expertise in revenue enhancement and cost reduction drives significant benefits for their clients in the financial industry, has chosen Aptys Solutions as their ASP payment exchange solutions provider. Aptys Solutions’ “PayLOGICS” flexible, scalable solution offers Mainstay technology using one unified platform that automatically applies least-cost routing, so it can take advantage of economies of scale and drive out costs for clearing transactions.
TSYS announced the publication of a white paper entitled “Lessons Learned from Business Travel Study: Best Practices for Getting Ahead of the Mobile Wave.” Based on the findings of The Connected Business Traveler Study, an innovative survey of business travelers conducted jointly by TSYS, Mercator Advisory Group and Commercial Payments International (CPI), the report combines the survey’s findings with analysis of how the evolution of mobile banking and payments for consumers signals an opportunity for greater mobile solutions and innovations geared toward commercial card customers. One conclusion from the paper is that mobile connectivity and communications can be leveraged to digitize the paperless shift that will benefit businesses and corporate credit card-carrying employees, just as they have by consumer cardholders.
Elan Financial Services EFT processing launched its Transaction Authorization Block (TAB) tool that allows financial institutions to block ATM or POS transactions in real-time, using a combination of criteria used in the Elan authorization process. The service, “eTranBlock,” lessens fraud losses by allowing financial institutions to manage their own conditions for denying a transaction. The authorization blocking rules are designed to increase protection against potential payment fraud situations, such as when the theft of debit card data results in fraudulent transactions from a specific location (whether it be a neighboring state or a foreign country) or at a specific type of merchant.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Global Cash Access posted its 4Q and FY/12, consistent with projections. With 4Q/12 revenues of $136.1 million, down from the year ago figure of $137.7 million, operating income was $9.7 million, also down from the year ago figure by 32% from $14.2 million. Adjusted earnings before interest, taxes, depreciation and amortization…
MoneyGram global money transfer is warning consumers who are in a giving mood not to get taken by a charity scam, disclosing victims lost an average of $824 each time they sent money intended for a non-profit organization. The charity scam occurs when a fraudster asks a victim to donate to a particular cause or organization. The organization may sound similar to a legitimate charity, and may even have a fake website made to look like an organization’s official site. Red flags include when the name of the organization is similar to a well-known charity, but is slightly off or if the caller needs an immediate answer and asks you to donate without taking the time to do any research into the cause or organization, especially if they only accept cash and can’t answer very many questions about their “organization.”
Barclays Bank launched Barclays ETN+ Select MLP Exchange Traded Note (“ETN”) on the NYSE Arca stock exchange under the ticker symbol ATMP. The ETN is designed to provide investors with exposure to a basket of midstream US master limited partnerships (“MLPs”), limited liability companies (“LLCs”) and corporations by tracking the volume weighted average price (“VWAP”) of the Atlantic Trust Select MLP Index (the “Index”). Additionally, the Index will also provide exposure to general partners of US MLPs in Canada. Barclays ETN+ ETNs are senior, unsecured, unsubordinated debt securities issued by Barclays Bank PLC. Barclays Bank PLC is the issuer of Barclays ETN+ ETNs and Barclays Capital Inc. is the issuer’s agent.
USA Technologies announced a 3-year agreement with Ameri-Source purchasing management company. Consisting of approximately 475 vending companies located throughout the United States, Ameri-Source is now an endorser and promoter of USAT’s cashless payment and telemetry solutions to Ameri-Source members. The Company will endorse and promote USAT’s “ePort” technology and “ePort Connect” service to its members and Ameri-Source members will be eligible to receive preferred pricing terms outlined in the agreement.
Nowcom Corporation and PayPros are pleased to announce new integrated payments functionality within DealerCenter. The payments solution by PayPros, the industry leader for integrated payment processing, and Nowcom, the leading automotive dealer management solution provider for the independent dealer, will allow dealerships to run their entire operations from a single program. DealerCenter is a full-featured automotive dealer solution, enabling these businesses to manage, sell and advertise vehicle inventory. PayPros allows credit, debit and electronic check (ACH) transactions via a hosted, secure online payments site accessible within the DealerCenter software.
Net Element International, a technology-driven group specializing in electronic commerce and mobile payment processing, and Unified Payments, a leading provider of transaction processing services and payment-enabling technologies have entered a binding term sheet. With this, Net Element International will acquire Unified Payments and operate it through its newly formed subsidiary and holding company. This is expected to position and diversify Net Element International’s TOT Money business and expand its global presence in the payments market. Net Element International plans to aggressively begin deploying Unified Payments’ products and services in Russia and other emerging markets, while Unified Payments provides a strong foundation of recurring revenues in the U.S. The terms of the proposed acquisition are disclosed in Net Element International’s Form 8-K filed with the SEC.
IDT Corporation prepaid telecommunications services and Fiserv financial services inked agreements to expand the availability of the Boss Revolution international calling service from IDT and the CheckFreePay® walk-in bill payment service from Fiserv. Now IDT Boss Revolution payment users can use the “CheckFreePay” walk-in bill payment services. Likewise, Fiserv “CheckFreePay” agents can offer the Boss Revolution PIN-less international calling service. The “CheckFreePay” walk-in bill payment service allows consumers to pay bills from more than 3,000 companies at more than 25,000 retail agent locations nationwide.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data released its “SpendTrend” analysis for the full month of February 2013. Tracking same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, the February “Spendtrend” indicated dollar volume growth slowed to 4.6% Y/Y from January’s 6.2%. Coincidentally, transaction growth slipped…