Of the total $2.446 trillion in outstanding US consumer debt, total outstanding revolving credit edged up in June 7.9% to total $798.3 billion, reflecting a second consecutive month of increase. Setting dangerous precedent, this compares with the May figure of 793.1, consistent with trends over the past 2 and half years showing revolving consumer credit…
Visa plans to accelerate the migration to EMV contact and contactless chip technology in the United States with its adoption of dual-interface chip technology. Helping prepare the U.S. payment infrastructure for the arrival of NFC-based mobile payments by building the necessary infrastructure to accept and process chip transactions that support either a signature or PIN at the point of sale, the chip technology is also expected to secure payments into the future through the use of dynamic authentication, reducing a criminal’s ability to use stolen payment card data by introducing dynamic values for each transaction. Even if payment card data is compromised, a counterfeit card would be unusable at the point of sale without the presence of the card’s unique elements. By reducing static authentication, we diminish the value of stolen cardholder data, benefiting all stakeholders. Visa will ultimately Expand the Technology Innovation Program to Merchants in the U.S.; Build Processing Infrastructure for Chip Acceptance; and Establish a Counterfeit Fraud Liability Shift.
Distra software provide for payments transformation is hiring new US-based resources after having relocated operations to Atlanta. In conjunction, the Company is to provide its Universal Payments Platform (UPP) as part of a major payments transformation initiative, chosen thanks to its high-configurablity, Java functionality and real-time, high performance, high availability transaction processing. A recent benchmark showed that the Distra UPP can sustain reliable fault-tolerant processing at a rate of more than 3000 transactions per second on commodity infrastructure, demonstrating the platform’s ability to cost-effectively scale to meet future business requirements of the world’s leading payment processors and other companies in the payments chain. (See www.distra.com for details). These partnerships strengthen the Distra UPP with technical infrastructure, financial industry expertise and global resources of some of the world’s leading service and technology providers.
Heartland Payment Systems launched its “Mobuyle”(pronounced MO-buy-uhl) comprehensive mobile solution that enables merchants to accept credit, debit and gift card payments through their smartphones or mobile devices. The “Mobuyle” solution is the first mobile application fully designed and developed by a major payments processor, providing business owners the most comprehensive processing capabilities of any mobile payment application currently on the market. It is designed for brick and mortar businesses looking for off-premise processing capabilities or on-site flexibility, including as a POS payment terminal to dispel long checkout lines, and features electronic signature capture, GPS location capture, merchandise picture storage, and voice authorization capabilities, and enables merchants to accept card payments even if they are out of range for cellular coverage or WiFi access with Store and Forward (SAF) functionality.
Cardlytics transaction-driven marketing for banks partnered with ActivePath and its “2Way Email Banking Systems” to launch its joint marketing agreement to let retailers embed offers into eStatements for banking customers to receive, view and transact within email. The ActivePath solution lets banks and card services overcome the limitations of email systems, allowing them to capitalize on the huge untapped potential of email as a communications, sales and marketing channel. The Cardlytics’ transaction marketing platform uniquely gives retailers a way to present relevant offers to targeted consumers – directly in their bank statement – where they are most likely to be noticed and acted upon. Banking customers can now receive enhanced offer-carrying eStatements directly into their inbox to be viewed and transacted from within in the email message at their convenience without the need to log on to the bank’s website or download the statement.
Datacard Group secure ID and card personalization solutions announced Kern Schools Federal Credit Union has implemented Datacard “CardWizard” software for instant debit card issuance. Members leave the branch with an activated, ready-to-use debit card immediately after opening a new checking account or requesting a replacement card. The credit union recently expanded its use of CardWizard software to all of its seven full-service branch locations “replacing its existing instant card issuance software application due to CardWizard software’s superior functionally, ease-of-use, security features. The Federal Credit Union is also utilizing “Datacard 150i” card personalization system for instant card production and embossing.
Buffalo, NY-based Tops Markets selected Retalix’s “StoreLine” POS software application to lower the cost of ownership and increase the functionality of its front-end operations. Retalix StoreLine is an open-architecture, multi-channel solution designed to increase a retailer’s efficiency and effectiveness at all customer touch points, and thereby assist the retailer to differentiate, innovate and drive a superior customer experience. Deployed at leading retailers worldwide, the application contains advanced Store and POS functionality and supports customer loyalty, self-checkout, fuel management, QSR and a wide variety of electronic payment services.
Diebold and University Federal Credit Union are combining deposit automation technology with personal interactions in a teller-less environment. With this, University Federal Credit Union (UFCU) will soon offer a teller-less banking environment with plans to open three teller-less branches in the Austin, Texas region to offer independent, yet personalized, banking experiences. UFCU designed open, inviting branches and Diebold will provide a unique terminal that will combine self-service deposit automation technology with personal human interaction. UFCU’s custom-designed Diebold ATMs support envelope-free transactions in which users load cash and checks directly into the machine. Enhanced note acceptors accept up to 50 mixed-denomination notes, and intelligent depository modules process checks and bill payment documents.
Sunoco has selected PROS pricing and revenue management software as its pricing technology partner to improve its ability to streamline and process data in increasingly volatile market conditions for its branded and unbranded rack-fuels business. With this, Sunoco will deploy the PROS “Scientific Analytics,” “Price Optimizer” and “Deal Optimizer” software modules-the complete PROS Pricing Solution Suite. The three modules seamlessly work together to support the company’s pricing lifecycles, from identifying pricing opportunities, to setting pricing strategies and executing optimized prices.
John Postle has been named to GM of its Jack Henry & Associates’ Payment Processing Solutions (PPS) division. PPS encompasses Jack Henry & Associates’ “jhaPassPort” suite of ATM and debit transaction processing services, and the payment processing services added through the company’s October 2009 acquisition of Pemco Technologies. He served the past 10 years as the manager of the “jhaPassPort” business line and was instrumental in the acquisition of Pemco Technologies. Effective July 1, 2011, he began providing executive oversight of the development, quality assurance, support, installation, operations, communications, and education departments that support PPS. In his expanded role, he joined the company’s senior management team that encompasses functionally aligned general managers. He holds a BBA in Finance.
American Express is providing both Cardmembers and golf fans at the 93rd PGA Championship at Atlanta Athletic Club with an enhanced on-site experience with greater access to course and tournament information, instruction from PGA and LPGA professionals and premium on-site hospitality access. With this, American Express will be presenting the PGA Learning Center, an onsite interactive facility located near the main spectator entrance that will provide attendees with exclusive access to all things golf, including six lesson areas, golf simulators, putting instruction and more. This year, attendees can expect to find numerous ways to get involved in the action, including “Cardmember Swing Analysis;” “Complimentary Golf Lessons and PGA Clinics;” and the “Closest to the Pin” Contest.
BluePay makes payment processing easy for merchants who need secure, cost-effective, all-in-one credit card processing solutions. By combining a full suite of payment services with a secure payment gateway, BluePay helps merchants consolidate vendors for reduced costs and improved business operations. BluePay credit card processing and Internet payment solutions include virtual terminals, POS systems, mobile processing, secure hosted payment forms and more. Merchants can accept multiple types of payment, from credit cards and debit cards to e-checks and corporate cards, and enjoy fast, easy transactions through BluePay’s secure gateway. With an all-in-one processing solution, merchants can eliminate the need for third-party processing vendors and count on BluePay for all of their growing payment needs.