In its twenty year history as an advisor to most major banks in the U.S. and banks in 50 countries abroad, R.K. Hammer has seen various management blunders, some so severe one could never design or fund marketing programs to offset the subsequent collateral damage. It seems some card issuers are still trying hard to…
Digital River global e-commerce solutions has appointed its CFO, Tom Donnelly, to President. With this, he will lead global e-marketing, sales and client delivery organisations for the company’s core enterprise commerce businesses. He joined Digital River in 2005 as the company’s treasurer and vice president of finance. Four months later, he was promoted to CFO with responsibility for worldwide finance, human resources, investor relations and legal matters. Over the past year, Donnelly has been managing the company’s delivery and IT organisations. He has been a vital part of Digital River’s leadership team and has worked closely with senior executives and the board of directors to set the company’s strategic direction. He will also continue as CFO for the time being.
Ron Hynes has been appointed MasterCard Worldwide group executive, Global Prepaid Solutions. He was most recently group head, Expert Sales, responsible for U.S. Markets Prepaid, Commercial and Public Sector, since 2006 when he joined MasterCard. Prior to this, he served as executive vice president, Sales and Strategy at FSV Payment Systems where he was responsible for the strategic direction and overall sales/business development efforts for the Prepaid Debit solutions provider. Prior to FSV, he worked for JP Morgan Chase/Bank One as senior vice president, Prepaid Card Solutions. In his new role, he will be responsible for leading the development of prepaid programs around the globe that create a competitive advantage for MasterCard and its customers.
The PCI Security Standards Council released an educational resource on PCI DSS requirements for securing cardholder data in audio recordings. The “Protecting Telephone-Based Payment Card Data Information Supplement” provides actionable recommendations to merchants and service providers for securely processing payment card data over the telephone. The PCI Security Standards are designed to protect payment card data within merchant and service provider environments and require appropriate measures to protect any systems that store, process and/or transmit cardholder data. Along with face to face or ecommerce environments, the PCI Standards apply to organizations with call center operations where credit card information processed over the phone may be recorded and stored, exposing cardholder data to potential risk.
Merchant Warehouse merchant accounts and credit card processing solutions released mobile and web versions of MerchantWARE “TransPort” hosted payment solution, both offering versatility as the original TransPort in addition to enhanced functionality and enhanced security features. This solution eliminates the need for a PA-DSS audit for POS systems, shopping carts, websites and mobile payments. The PA-DSS audit is eliminated by delegating all of the sensitive portions of payment processing to TransPort. TransPort.Web off-loads the card processing to a PCI DSS certified server. By removing the POS software or shopping cart out of PA-DSS scope, TransPort.Web allows the merchant to operate their online store within PCI DSS regulations without incurring any additional costs.
HP launched its flexible, secure, self-service and cost-effective payment delivery solution for prefunded cards. HP Prepaid Card Services provides more simplicity with a single view of the portfolio to drive efficiency in customer service and standardizing back-office operations across products. It also focuses on new market opportunities, allowing banks to provide card-based payment services, regardless of a consumer’s credit eligibility; new revenue streams with unique market opportunities that exist within corporations, retailers, healthcare organizations, transportation agencies, universities and government entities; and fraud protection that reduces client exposure to losses by applying advanced fraud monitoring tools on the transactions. HP Prepaid Card Services also supports EMV Chip and Pin requirements.
mBlox mobile transaction network has launched its secure text solution. Allowing retail, financial services, and healthcare to send secure text messages that appear in a user’s regular SMS in-box on their mobile device, the secure text offering facilitates distribution of PIN numbers and virtual credit/debit cards; patient health information, and consumer purchase data for the delivery of rebates, store discounts, or cash value via mobile devices. In doing so, it leverages mBlox’s network expertise and fosters a new kind of consumer relationship for enterprises and brands.
Allied First Bank selected VSoft’s home/office and mobile remote deposit capture solutions. The bank chose the solutions for the ease of use, improved functionality and customer benefits. Allied First Bank had a vision to improve the services it offered customers though home and small business remote deposit capture via flatbed scanners and smartphones. After much due diligence, the bank selected VSoft for its user-friendly, fully automated workflow and ability to provide single sign on (SSO) to the bank’s current Internet banking partner.
3M has invested an undisclosed amount of capital in motionID technologies’ “AG” ePayment system, allowing vehicles to be automatically equipped with a payment function. motionID’s small radio-frequency tag, which is attached to the windshield, provides the vehicle with a contactless identification and payment function. The system is used in applications such as parking garages, where the barrier opens automatically and the parking fee is charged directly upon exiting. In addition, VIATAG can be used in many other cases, such as drive-thrus, gas stations and car-wash facilities. VIATAG allows the user to pay safely without having to walk to the check out or wait in line.
Phoenix NAP datacenter and network access point is now a SAS 70 Type II certified facility, following the completion of an audit by independent agency Security and Control LLC. The SAS 70 is a widely recognized auditing standard developed by the American Institute of Certified Public Accounts (AICPA) that measures service organizations’ controls and safeguards. The datacenter maintains its status as a PCI DSS Validated Services Provider after Coalfire Systems completed its independent audit. Phoenix NAP is listed on the Global List of PCI DSS Validated Entities and has been deemed to be HIPAA compliant.
T8 Webware financial Web strategy and personalized services has made available its latest mobile capabilities. The “Cre8 My Card” solution expands features for its personalized payment card product and further allows community financial institutions to broaden revenue channels with services that customers and members desire. The application offers personalized payment card development capabilities adn allows banks can to expand the reach of their marketing and increase revenue opportunities from any location. The “Cre8 My Card” solution also allows users to personalize their cards using images from personal computers, a financial institution’s pre-determined stock photo gallery and even social networking and photo-sharing sites.
Northwest Federal Credit Union (NWFCU) has implemented SAS Anti-Money Laundering, part of the SAS Enterprise Financial Crimes Framework for Banking from the leader in business analytics software and services, to focus on fraud prevention and combat fraud on behalf of its membership. NWFCU monitors a wide variety of fraud scenarios and risk factors – such as large cash withdrawals and deposits, wire transfers, the velocity of debit card activity and money structuring. The pre-defined scenarios and factors in the SAS solution helped the credit union adapt quickly to the new system.