Retail Merchants Have Positive Outlook on Holiday Shopping

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Chase Paymentech indicates 59% of e-commerce companies surveyed expect better sales volume this season than in 2011, while 47% expect it to be better than pre-recession levels in 2007. The Chase Paymentech eHoliday Shopping Monitor reveals expectations for the holiday shopping season among e-commerce companies across a variety of sectors. This…

Euroclear & SmartStream Launch Reference Data Utility

Euroclear Bank and SmartStream partnered to provide a centralized reference data utility service known as the Central Data Utility (CDU). For this, Euroclear Bank service will source securities data from data vendors as well as from data originators, such as central securities depositories and stock exchanges. Powered by SmartStream technology, securities data processed in the CDU will first be validated, cleansed of inaccuracies and then enriched before being relayed to clients in the precise format that the client has chosen, on an intra-day basis. This new service is unique in that it is available to market participants in the form of a centralised utility. CDU clients can benefit from a centralised and simplified process to access cleansed data from their chosen data vendors.

FreshDirect Implements Dynamics Credit Card Device

FreshDirect launched its grocer payments application for the battery-powered Dynamics ePlate credit card device, allowing consumers to earn credits towards their groceries with every purchase. When the FreshDirect experience™ application is selected on their ePlate device, a consumer will earn additional savings at FreshDirect, as they use their Dynamics ePlate™ credit card device for their everyday purchases. Consumers can sign up for a battery-powered Dynamics ePlate credit card device online and is subject to a credit approval. Connected to an ecosystem of experience providers that each delivers an individualized brand experience, through an experience™ application, to the consumer, “ePlate” lets users select different ‘experience’ applications.

Isis Expands mWallet Solution Westward

Isis mobile commerce JV between AT&T Mobility, T-Mobile USA and Verizon Wireless launched the Isis Mobile Wallet in Austin and Salt Lake City, allowing consumers to select from nine Isis Ready handsets. Users then download the Isis Mobile Wallet application from Google Play Load an eligible American Express, Capital One or Chase credit card into the Isis Mobile Wallet or get started with the Isis Cash™ card that comes in every Wallet. The devices can then be used where contactless payments are accepted.

ElectraCard Services Launches Packaged Payment Switch

ElectraCard Services (ECS) electronic payments solutions made available prepackaged, functionally rich, high performance payment switch. The integrated solution meets the needs of financial institutions, local Independent Service Organizations (ISO), retailers and merchant processors and enables them to more quickly adapt to innovation in their markets. ECS ‘Payment in a Box’ bundles HP Integrity NonStop servers and electraSWITCH iTx series to deliver high reliability, extreme scalability and superior price performance. The integrated solution is based on the newly introduced HP Integrity NonStop NS2100 server, allowing customers who require a mission-critical application environment to extend the reliability of NonStop fundamentals at a lower price point.

Earthport and ebpSource Launch Trans Payment Service

Earthport cross-border payments service provider and ebpSource electronic bill presentment and payment forged agreements by which ebpSource will offer cross-border payments solutions to its customers. This is in response to the growing demand from organisations for strategic international payments solutions to complement what they are doing on a national level. ebpSource delivers software solutions, consultancy and support to global billers, banks, payment processors and outsourced service providers. ebpSource is also master international distributor for a number of market-leading e-billing and payment technologies. The collaboration with Earthport will provide these organisations with better options for international payments products and the ability to quickly launch competitive white label services internationally.

Dynamics Launches Device with Groundbreaking Payment Apps

Dynamics payment devices is set to announce its “ePlate” credit card device at Aria Resort + Casino in Las Vegas. It will launch with financial partners as well as content partners. The consortium will discuss and demonstrate the unique benefits and functionality of the ePlate™ credit card device. Dynamics was founded in 2007 and produces and manufactures intelligent powered payment cards and advanced payment platforms. The company has won many of the world’s most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition.

Card Delinquency Performance in Jeopardy as APRs Climb

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Just as U.S. credit card delinquency has dropped to an all-time low on the Fitch 60-day Delinquency Index to 1.76%, average credit card APRs now sit at the exact average measured in October 2011, once again at 15%. Delinquencies are down to their lowest level on the Prime Credit Card Index…

TSYS Announces Transaction-Specific Marketing

TSYS partnered Truaxis, a MasterCard company, to make available transaction- and behavior-specific marketing offers. The new offering integrates cardholder spending patterns and behavior with an innovative platform that delivers personalized rewards, offers, loyalty incentives and other services to the end consumer. A recent study by Aite Group found that 45% of consumers are interested in receiving daily deal offers from their primary financial institution and by 2015 more than 460 million U.S. cardholders will subscribe to merchant-funded incentive programs.

Experian and Iovation Partner on Fraud Prevention

Experian announced an international partnership with iovation to further enhance Experian’s global fraud prevention capabilities. iovation’s advanced device recognition software, its dynamic referencing and device reputation checks will increase the reach and effectiveness of Experian’s identity verification and fraud prevention services. iovation enables clients to assess the likelihood of transactions being fraudulent based on the device from which an application is made. Its sophisticated real-time risk assessment analytics stops some 150,000 potential online fraud attempts each day. Experian’s range of identity verification and fraud prevention tools, iovation’s ReputationManager 360 analyses the past and current behaviour of more than one billion devices to identify and re-recognize devices logging into an organisation’s website in real time.

OTI Announces $2mm in NFC/Contactless Readers Orders

On Track Innovations announced receipt of orders valued at approximately $2.0 million for its NFC and contactless payment readers, which it plans to deliver part of to its customer in 2012, and the rest in 2013. OTI’s NFC and contactless payment readers provide a cost-effective plug-and-play solution for businesses across the globe. These lines of NFC and contactless payment readers support the increasing adoption of NFC payment technology by retail stores, vending machines and other points of purchase. OTI’s NFC and contactless payment readers are certified by major credit card associations – including MasterCard, Visa, American Express, and Discover – for their contactless programs.

NFC Mobile Payment Transactions to Hit the $100B In 2016

ABI Research forecasts that the total value spend of NFC mobile payments will rise from $4 billion in 2012 to $191 billion in 2017, breaking the $100 billion mark in 2016. Mobile payments and more importantly the convergence between payment types – proximity, P2P and online – stored on a single NFC handset will be the initial trigger driving market convergence across a host of other markets, including ticketing, retail, loyalty, and access control. Market convergence is not quite ready for mass commercial roll out, but the potential value add that NFC brings has been identified. Smart card and IC vendors, device OEMs, MNOs, partnering service providers, and payments networks are all set to benefit should convergence prove successful.