April delinquencies and chargeoffs have plummeted since last month figures and the free fall is showing no signs of slowing. Fitch Ratings’ Credit Card Performance Indix’ 60+ day delinquency dropped below 3% for the first time in three years to 2.93% after declining 18 basis points from the prior month. Delinquencies peaked at 4.54% in…
In tandem with plummeting chargeoffs and delinquencies, the Monthly payment rate (MPR) accelerated for the third straight month in April by nearly 2% from 19.21% to 21.72%. The Index shows consumers are paying back their cards more quickly, which Fitch expects to remain high as more consumers transact and make on time payments. Additionally, the…
Hypercom Corporation has made available its “IntelliNAC” high-density, multifunction POS network access controller. Speeding transactions for financial institutions, merchants and other entities whose businesses benefit from processing large volumes of payment transactions securely, “IntelliNAC” builds on Hypercom’s secure networking technology, which benefits high-performance transaction networks, routing billions of transactions daily for hundreds of financial institutions worldwide. The “IntelliNAC” system authenticates transactions via Public Key Infrastructure standards required for PCI-DSS compliance and does so in multiple secure zones, meaning that the public key or certificate is never exposed. It also lets acquirers and processors control end-to-end transaction transport on their own, thus eliminating the need to employ multiple third-party vendors and allowing ISOs to deploy quickly and securely their terminals and services to the field.
Aptys Solutions payments network provider announced at FinovateSpring 2011 its “Aptys Mobile” (aMobile). Allowing banks’ business customers to create invoices, accept payments and process invoices directly through a mobile phone or tablet device. In tandem with Aptys’ “PayLOGICS” payment hub, “aMobile” provides financial institutions access to a full payment integration solution allowing businesses to electronically manage the entire supply chain process from point of sale through posting in their accounts receivable system via a mobile phone or tablet device. In doing so, it creates an end-to-end payment process to support mobile receivables from invoice creation, payment processing and back-end accounting, allowing the business to manage payments from any location.
Mocapay announced the integration of association branded cards into its mobile wallet through VeriFone “PAYMEDIA.” Mocapay merchants will benefit from an additional payment type, the ability to learn critical demographic information about their target consumer, and the ability to engage one-on-one with their customers through Mocapay’s integrated mobile marketing database. Customers using a Mocapay mobile wallet at participating Mocapay enabled merchants will have the ability to connect their association branded payment card to their existing mobile gift and mobile loyalty accounts. This not only creates an additional tender to transact with at a merchant’s point-of-sale, but now allows customers to use their preferred tender while continuing to participate in merchant specific loyalty programs – all through thei mobile phone.
Visa electronic payments kicked off its new payments solutions to replicate Visa POS payments within traditional and digital eCommerce, mobile commerce and social networking commerce environments. These will include a secure cross-channel digital wallet and a range of customized mobile payments services that address the specific requirements of geographic markets around the world, namely on the Association’s digital wallet and services platform. This platform will store Visa and non-Visa payments accounts, support NFC payments through the innovative Visa payWave application and deliver a wide range of transaction services for eCommerce, mobile commerce, micropayments, social networks and person-to-person payments. It is already slated to serve customers of Barclaycard US; BB&T Corporation; Card Services for Credit Unions (CSCU); ICBA Bancard; Nordstrom fsb; Pentagon Federal Credit Union; Scotiabank; TD Bank Group (US and Canada); and US Bank, to name a few. Visa expects to launch the digital wallet in the U.S. and Canada in fall 2011.
Bluepoint Solutions Check 21, remote deposit capture, item processing and enterprise content management solutions has configured its “QwikDeposit ToGo” mobile remote deposit application for integration with tablet banking apps. To do so, Bluepoint has partnered with Access Softek to integrate it with Mobile Finance Manger (MFM), Access Softek’s tablet banking application. The “QwikDeposit ToGo” lets users securely deposit checks using a smartphone or tablet equipped with a two mega pixel or higher camera, providing the convenience of 24/7 deposits and faster availability of funds. Account holders initiate mobile-banking sessions, key in their deposit amount and snap photos of both the front and back of the check with their tablet’s camera.
DeviceFidelity plug and play mobile payment and contactless technologies NFC mobile device accessory patent has been granted by the US Patent and Trademark Office (USPTO). U.S. Patent No. 7,941,197 covers a unique approach for bringing secure NFC functionality to highly coveted mobile devices such as the iPhone. DeviceFidelity continues to spearhead the availability of certified NFC mobile devices with implementations globally at top tier financial institutions, payment networks and mobile carriers. DeviceFidelity’s solution is consumer centric and is the only mobile contactless payment technology to be commercial approved by Visa, Inc.
ViVOtech is set to demo its NFC mobile marketing and
promotion applications created to help acquirers, ISOs, and merchants generate
additional revenue by delivering a rich in-store shopping experience and quick check out
to consumers. It will be held May 11, 2011 – 11:00 a.m. and 2:00 p.m. PDT at the San Diego Convention Center.
Merchant, payment, mobile, web and advertising companies use ViVOtech solutions to
enhance customer experience and grow their business.
A team of veterans from some of the biggest companies in banking, retail and e-commerce – including former eBay and Best Buy CMO Mike Linton, former Visa executive Jim Taschetta and ClairMail founder Joe Salesky – announced at FinovateSpring 2011 its “FreeMonee” national cash-gift network. The “FreeMonee” solution will let merchants give “gifts” directly to individual credit and debit cardholders through participating financial institutions. FreeMonee gifts are cash incentives that function like a gift card on an individual’s debit or credit card. With FreeMonee gifts, consumers can purchase anything they choose at the designated merchant — no strings attached — by simply using their debit or credit card. It delivers high value gifts to the right consumers at scale with its Adaptive Matching Technology (AMT), which analyzes the transaction data of hundreds of millions of debit and credit card holders – while protecting privacy – and precisely matches merchant gifts with profitable consumer prospects that are likely to redeem based on previous purchasing patterns and predictive analytics.
Associa community association management firm has joined the PCI Security Standards Council as a new participating organization and will work with the Council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards. Associa will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards and become part of a growing community that now includes more than 600 organizations. Associa serves its clients with local knowledge, national resources and comprehensive expertise.
Adeptra auto-resolution technologies has announced its “MobileDirect” fully-interactive mobile application. Available in Q3 2011, “MobileDirect” mobile application will bring real-time fraud, collection and marketing communications to consumers’ smartphones. It will add pure mobile as a fourth communication channel and complement Adeptra’s existing voice, SMS/text and email capabilities. With a fully tokenized capability, the application will also offer direct pay options to process consumer payments. Adeptra’s MobileDirect will be available as a standalone application that can be branded by banks and card issuers. It will enable banks and card issuers to meet consumer demand for personalized real-time mobile communications, and offer timely and convenient smartphone applications to notify consumers of important account alerts, including potentially fraudulent transactions, account authorizations, account updates, core servicing as well as payment reminders.