Protegrity Deploys Vaultless Tokenization for Payments Industry

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Protegrity, a leading provider of end-to-end data security solutions, announced Protegrity Vaultless Tokenization for the Payments Industry, the first and only offering that enables processors and gateways to cost-effectively provide tokenization services across their entire client base. Protegrity now supports the largest companies in the payments industry with a lightweight tokenization… Shareholders Approve Privatization

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Alibaba Group Holding Limited (“Alibaba Group”) and Limited (HKSE: 1688; 1688.HK “”) jointly announced that the proposal for the privatization of by way of a scheme of arrangement (“Scheme”) has been approved by a sufficient majority of the independent shareholders of at the Court Meeting today. Approximately 95…

Cardholders Charge it Up and Pay it Off

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Despite the latest data showing a 7.8% explosion in consumer charge-ups, charge-offs continued improving. For the fourth straight month, charge-offs fell in May, this time to 5.17% as losses recorded a decrease of 34% from the year ago period. This compares to the April figures of 5.18% and the year ago…

VeriFone Posts 2Q/12 Revenue Up 64%

VeriFone Systems posted its revenue for the three months ended April 30, 2012 of $479 million, compared to $425 million in the previous quarter and $293 million for the comparable period of fiscal 2011 for a 64% year-over-year increase. GAAP net revenues were $472 million for the latest quarter, $420 million for the prior quarter, and $292 million for Q2 FY11. Non-GAAP net revenues excluding revenues from businesses acquired in the past 12 months increased 15% from the year-ago quarter. Hypercom-brand non-GAAP net revenues increased $8 million sequentially to $81 million in Q2 FY12. Meanwhile, net income per diluted share for Q2 FY12 was $0.64, compared to $0.58 in the prior quarter and $0.46 for Q2 FY11, a 39% year-over-year increase.

Shareholder Violated Agreements in Proxy against USA Technologies

USA Technologies announced the United States District Court for the Eastern District of Pennsylvania determined that Bradley Tirpak, a dissident shareholder and former board member, whose proxy contest organization operates under the self-laudatory moniker of S.A.V.E., has violated a contractual agreement in an attempted proxy battle against USA Technologies. The Court found that various statements made by S.A.V.E. in the last month violated a non-disparagement provision of an agreement entered into by Tirpak and his affiliates with the Company in May 2011. This enjoins Tirpak from engaging in future violations of the May 2011 Settlement Agreement.

Card Chargeoffs & Delinquencies Drop like a Rock

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Despite all the dismal data on consumer behavior lately, U.S. credit card ABS performance saw positive gains in May as late stage delinquencies reached six-year lows to only 2.14%, a nine basis point (bp) improvement for a 27% improvement from the year ago period. Delinquencies more than 30 days past due…

U.S. Bank Launches Cobranded Card App

U.S. Bank has introduced an app for Android allowing retail partner customers to apply for a credit card while they are shopping, which they can use for purchases before they leave the store. U.S. Bank plans to continue to roll out the U.S. Bank Card App for Android and iPhone to other cobranded partners in 2012. The Android version of the REI app, called the “REI Visa App,” is free and available from REI’s website and at Google Play. The app allows consumers to easily apply for a U.S. Bank REI cobranded credit card and access a secure, virtual credit card via their mobile phone.

Bank of America Serves 10mm mBanking Customers

Over 10 million Bank of America customers are now using mobile banking, representing growth of nearly 3 million active users over the last 12 months. Bank of America’s mobile banking customers have the ability to check account balances, transfer funds, pay bills and find the closest ATM, all from their mobile device. Bank of America was among the first to launch mobile banking apps for Apple, BlackBerry and Android devices and the only bank that has deployed a tablet‐specific app for all three platforms: Apple, Kindle and Android.

VeriFone & PayPal Partner on Alternative Payments to Large Retailers

VeriFone Systems and PayPal signed licensing, marketing and implementation agreements for PayPal acceptance at large retailers nationwide. This provides PayPal with unprecedented access to over one million high volume Verifone POS, giving retailers the opportunity to converge e-commerce and retail payments into a new shopping experience for consumers. Shoppers will be able to utilize the existing spectrum of PayPal payment methods at checkout, including using a PayPal Access card and PIN or entering a phone number and PIN. The VeriFone solution is future-proof so that adding new options, such as NFC, will be easy to implement when they become available.

Wells Fargo Launches P2P Money Transfer Service

Wells Fargo & Company announced the launch of Send & Receive Money, a new service allowing customers’ payments to other Wells Fargo and Bank of America customers through online and mobile banking using an email address or mobile phone number. Wells Fargo customers no longer need to know their recipient’s account number at Wells Fargo or Bank of America. Customers can use their recipient’s mobile phone number or email address to initiate a person-to-person payment via clearXchange, which was formed to facilitate the movement of funds between bank customers to better meet their needs.

ACI Launches Improved Acquirer Platform

ACI Worldwide payments solutions launched its improved “ACI Acquirer” multi-currency system for managing merchant accounts, histories and settlements. The enhanced ACI Acquirer offers greater support for U.S. taxation requirements, enhanced interchange fee processing and expanded features for merchant settlement delay and deposit reserves. ACI Acquirer enhancements are complimented by the launch of the newest version of ACI Interchange™, the company’s central monetary transaction manager for clearing card transactions. Both solutions ensure that acquiring banks and processors remain current with the latest regulatory developments in the U.S. market. This increases customers’ ability to operate seamlessly in today’s highly competitive merchant acquiring environment. ACI Issuer, ACI Acquirer and ACI Interchange are installed at more than 70 customers in North America, Europe and Asia.

Equinox Teams PayPal for In-Store Checkout

Equinox Payments payment terminal and secure applications provider partnered PayPal to allow consumers to pay with PayPal at large retailers using Equinox’s next-generation PCI 3.x Certified L5300 and L5200 consumer-facing payment terminals. In doing so, Equinox has integrated the PayPal Card and Card Free payment solution into the code base platform for all L5300 terminals. Those retailers that have already deployed the L5300 can take advantage of the Equinox Remote Key Injection System to update their terminal software and activate the PayPal solutions. Equinox technology securely updates terminal software that requires new symmetric keys without having to take the terminal out of the checkout lane and shipping it to a secure key injection facility.