The Visa Board of Directors has elected Robert W. Matschullat its non-executive, independent chair, just as John Swainson’s term as Lead Director will end and will return to chair position Matschullat has been a Visa director since October 2007 and served as both Chairman and interim Chief Executive Officer of The Clorox Company and is currently its Lead Director. He also served on the boards of The Seagram Company Limited, Morgan Stanley & Co. Incorporated and of the McKesson Corporation. Mr. Matschullat currently serves on the board of directors of The Clorox Company and The Walt Disney Company.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data reported its 4Q/12 consolidated revenue was $2.8 billion, up $69 million, or 3%, compared to a year ago, primarily driven by a $55 million increase in debit network fees. Adjusted revenue, which excludes certain items including debit network fees, increased $18 million, or 1%, year-over-year to $1.8 billion. For…
Acumera Trusted Connection Services for convenience stores launched its PCI Audit Support to accelerate PCI compliance audits as part of Acumera’s PCI Tools solution. Acumera’s PCI Tools include automated external vulnerability scans with historical archiving, logging of PCI-related events, dynamically generated site network diagrams and clear identification of non-PCI payment application devices in the cardholder data environment. Acumera has completed its own PCI DSS compliance assessment and obtained an annual report on compliance (ROC), becoming a fully compliant service provider. Coalfire, a Qualified Security Assessor (QSA) firm, successfully completed the testing and controls validation of Acumera as a network and security service provider.
Evolution1 has been selected as a winner in the 7th annual 2013 Paybefore Awards in the Best Benefits Distribution Card Program category. The Evolution1 Card Program for Taft-Hartley Trust Funds was chosen from a record number of entries. It enables union members to have a convenient, consumer-friendly card to access their health reimbursement account (HRA) pre-tax funds to pay for their current health care expenses.
MasterCard and KeyBank announced MasterCard will be the exclusive payment network for a new suite of KeyBank credit card products. KeyBank will launch the MasterCard branded suite of cards this year to further strengthen the strategic relationship between KeyBank and MasterCard that previously included long-standing agreements in debit and ATM. The renewed credit card focus includes the purchase of a $725 million credit card portfolio earlier this year, and the bank’s expanded relationship with MasterCard bolsters its Relationship Rewards program. The “Relationship Rewards” program allows clients to earn points for everyday banking activities, including debit and credit card purchases.
OLO digital commerce engine for restaurants announced a $5 million dollar Series B financing from PayPal and existing investors. OLO allows customers to order and pay from restaurant websites and mobile apps, so that they can Skip the Line at the restaurant of their choosing. OLO transmits the prepaid order directly to the restaurant point-of-sale (POS) system. OLO is committed to serving as an open and independent commerce platform that allows restaurants to choose whichever payment types they would like to accept – a common carrier for digital commerce. OLO accepts all major credit cards, many stored-value cards, and digital wallet providers.
Acculynk joined the EMV Migration Forum, an industry body formed by the Smart Card Alliance to promote the timely and efficient migration to EMV-enabled cards, devices and terminals in the United States. The EMV Migration Forum has experienced tremendous growth since its formation several months ago, growing to 100 members from the entire payments industry, including global payment brands, financial institutions, merchants, processors, acquirers, regional debit networks, device manufacturers and industry associations.
Salt Technology cloud-based mobile payments platform secured $2M in financing from private investors with deep roots in the mobile, financial and payments technology sectors. This will accelerate the development and delivery of the SALT Payment Platform, SALT Personal Payment Profile, and SALT Merchant Services that enable MNOs, financial institutions and merchants to bring branded mobile wallets to market quickly, on any device, and with any payment type. The SALT Payment Platform makes it possible to provide NFC, cloud-based and remote QR code-based payment product. The company also offers Personal Payment Profile for a secure, universal payment credential with credit, debit cards and loyalty cards.
Acquirer Systems announced MasterCard Worldwide has qualified the Acquirer Systems Personalisation Validation Toolkit, Pivot, against their most recent card personalization requirements. Accurate testing and validation of both contact (EMV) and contactless and mobile MasterCard PayPass cards is vital to the global interoperability of payment cards. PIVOT is maintained against the latest network standards to help card developers, issuers and bureaux ensure that their MasterCard payment products are personalized correctly. This new update sees the addition of almost 250 new card tests as well as a fully programmable card analyzer and data validator.
Mobile payments is working closely with Microsoft to give Windows 8 developers flexible payout options for in-app payments. Fortumo was one of the first in-app payments providers to support Windows 8, launching its service just five days after the general availability of the new operating system. Fortumo will waive its commission for the first six months for all developers who integrate Fortumo’s billing software development kit (SDK) by May 31st 2013. Fortumo’s system works via mobile operator billing, wherein customers pay for digital goods via their mobile operator bill, a strong alternative to credit cards.
First Data announced its Board of Directors named Ed Labry interim CEO while it conducts a selection process. For continuity and stability, Ed’s experience and knowledge of the company will maintain its position in a dynamic electronic payments industry. Bringing with him almost 30 years’ experience in the payments industry- most of that time at First Data or one of its subsidiaries- Ed will ensure the company remains customer-focused with a drive to its 2013 objectives.
TSYS announced the signing of an extension agreement with Payment Alliance International (PAI) to provide front-end payment processing solutions and support for back-end merchant accounts. PAI is a leading provider of payment processing solutions designed to maximize efficiencies and provide turnkey solutions that result in customer growth and success.