L2C Secures Strategic Investment

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] L2C, a consumer scoring and analytics company offering standard and customized analytical solutions for the consumer credit industry, announced today the closing of a strategic investment by Core Innovation Capital, the investment partner of the Center for Financial Services Innovation (CFSI). The financing will be used to build out additional analytical…

NASA and National Archives to Join American Express on Big Data Strategies

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] On June 12-13 2012, Text Analytics News will host its 8th Annual Text Analytics Summit East at the Revere Hotel (formerly Radisson Boston), to discuss the latest developments in text analytics, social media analytics and big data management strategies. Two months ago, the US Government pledged more than $500 million over…

Despite Slow Growth in Jobs, Consumers Rack up the Debt

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.54 trillion in outstanding US consumer debt-up a jaw-dropping 10.2% since February- total outstanding revolving credit was up 7.8% in March for a steep jump from $798.5 billion in February to $803.6 billion. This compares to the year ago figure of 790.6 and comes as unemployment improved marginally…

ControlScan and BAMS Partner PCI Compliance

ControlScan PCI Compliance and Security solutions for small to mid-sized merchants partnered Bank Associates Merchant Services (BAMS) to leverage complementary technologies to seamlessly and securely share merchants’ detailed PCI compliance and security information with BAMS. BAMS enables businesses to simply and cost-effectively accept credit and debit cards and chose to partner with ControlScan so it can better equip its portfolio of merchants with the information and support they need to achieve and retain compliance with PCI DSS. Namely, the ControlScan “SmartSync” application program interface will feed PCI compliance information directly into IRIS, the BAMS proprietary reporting platform, allowing the company to better understand each merchant’s risk profile and segment communications accordingly. This partnership also gives BAMS strategic merchant outreach campaigns that are behaviorally targeted to individually guide each merchant through the PCI compliance process, as well as high-touch merchant support provided by live ControlScan agents.

T.G.I. Friday Adopts NCR Inventory and Labor Management

NCR Corporation has forged agreements with Carlson Restaurants for the implementation of its inventory and labor management solution at T.G.I. Friday’s restaurants. This allows multiple back office maintenance efficiencies which will free up restaurant management to spend even more time delivering a great service experience to guests. Elevating the guest experience is a key component in Friday’s Ambition 2015 – the company’s global growth initiative designed to make the casual dining leader the number one choice for guests, employees and investors by 2015. With this, NCR will also provide Friday’s a platform to manage labor scheduling, employee transfers and exporting information to its existing HR and POS systems.

American Express Partners to Launch Zynga Serve Rewards

American Express and Zynga social games services partnered to launch the Zynga “Serve Rewards” digital wallet. Offering the prepaid card market a unique service with in-game incentives for everyday spending, Zynga “Serve Rewards” phased program offers participants the ability to plant an interactive Serve Money Tree for virtual awards redemption. Users just register for the Zynga Serve Rewards program to receive a Zynga Serve co-branded prepaid card in the mail; add money to the Serve account through any funding source including a bank account, debit card, credit card, or cash using a GreenDot MoneyPak; activate the Zynga card online or by calling the activations line and use it everywhere American Express® Cards are accepted in the U.S. for purchases and receive online, in-game rewards in real time.

Identive Intros Mobile Payment Sticker

Identive Group identification, security and RFID launched its “tomPAY” radio frequency identification (RFID) peel & stick tag that allows payment card manufacturers to offer contactless payment capabilities using consumers’ existing mobile devices. Showcased at the NFC Solutions Summit in Burlingame, California, “tomPAY” is based on Identive’s “tom” (tag on metal) smart inlay technology and features a unique peel and stick form factor that allows it to be manufactured using the same processes as an ISO PVC card, and then popped out of the card and affixed to a mobile phone. It allows contactless mobile payments in compliance with MasterCard “PayPass” specifications and also can be used for loyalty or other schemes. Additionally, tomPAY can be adapted to support EMV-compliant (SDA/DDA) chips, opening new opportunities for card makers and issuers to provide their customers with an EMV-enabled tap-and-go experience.

Acculynk Updates PIN Pad Graphics

Acculynk online PIN debit upgraded its “PaySecure” graphical PIN pad, which can be viewed at www.acculynk.com/demo. The PIN is not captured by the merchant, nor is it transmitted over the internet. Acculynk’s “PaySecure” online shoppers using their debit card online are asked to enter their PIN on a graphical PIN-pad at the merchant checkout, and only need their existing bank-issued PIN to complete the transaction. The cardholder uses the mouse to click on a number and the PIN pad re-scrambles as each digit is selected. The PaySecure PIN pad can be customized with the card issuer’s logo and debit card design. There are no hardware devices, passwords, enrollment, or redirection to another website for payment.

mopay named Best Direct Carrier Billing Program

mopay mobile payments has won both the Judges Choice and Customer Choice Award in the “Best Direct Carrier Billing” category at the inaugural CNP Awards ceremony. The CNP Awards are presented by CardNotPresent.com, the online source of news and information for merchants and service providers operating in the world of card not present and alternative payments, in recognition of excellence achieved in the card-not-present space during the past year. mopay’s core platform enables merchants of virtual, digital and physical goods to bill charges directly to consumers’ phone accounts. Direct carrier billing creates extra value for consumers who don’t have a credit card but still want to make an online purchase or who don’t want to enter credit card and address details online.

NPC Inks Partnership with Strategic Payment Systems

NPC, a Vantiv subsidiary has signed a new long term preferred provider ISO contract with Strategic Payment Systems (SPS) for the provision of debit and credit card processing services to merchants. NPC additionally arranged long term financing for SPS. Strategic Payment Systems provides support to ISOs of all sizes with innovative products and new marketing approaches while its leadership team expanded its relationship with NPC to position itself for growth and innovation in the payments industry. SPS recognizes the value of the capabilities and expertise that NPC brings to meeting the unique capital and payment processing needs of experienced ISOs and sales agents.

Pawtucket Credit Union Deploys Q2ebanking eBanking

Q2ebanking (Q2) electronic banking solutions for credit unions and banks announced Rhode Island-based Pawtucket Credit Union implemented its secure suite of electronic banking solutions to improve the level of service it provides retail and business members. Pawtucket Credit Union selected Q2ebanking for the breadth of its innovative features, solution flexibility and the security of its multichannel platform. Q2ebanking’s native, out-of-band multi-factor authentication (MFA) and transaction authorization provide perimeter and transaction level security that is only made stronger by Q2’s Risk and Fraud Analytics (RFA) solution, which alerts the credit union about potentially fraudulent behavior in real time. The credit union will also implement bill pay solutions from iPay Technologies, with Consumer Online Bill Pay Platform, with integrated person-to-person (P2P) payments, expedited payments and end user support, along with Biz 2.0, a leading small business payments product with a full suite of electronic transaction services that are essential to small businesses’ day-to-day operations.

Zynga Competes with PayPal on Prepaid Market

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Zynga, the San Francisco social games publisher, has reached a partnership agreement with American Express to issue a prepaid debit card that could be used to redeem virtual credits, the two companies said. The partnership will help increase use of American Express’ digital payments platform Serve as the credit card issuer…