Credit card chargeoffs and bankruptcies will always be synonymous, and August 2011 was no exception. August consumer bankruptcies fell 11% from the year ago period with an overall consumer filing total having dropped to 113,432, from the August 2010 figure of 127,028 consumer filings. This correlates positively with credit card defaults ticking up eight bps…
NCR Corporation launched its “APTRA Mobile Banking 3.0” platform, allowing banks to offer their customers banking services via downloadable apps, mobile browser or SMS. The solution provides all the features consumers need to manage their money on the move and enables banks to scale and integrate mobile with other online, kiosk, ATM and teller banking channels, helping to drive adoption of mobile banking and deliver new services across integrated channels. This is in response to mobile banking usage having increased 100% since 2010, which 400 million global consumers are expected to use by 2014. NCR’s new mobile banking platform builds on NCR’s existing mobile banking experience and travel mobile services leadership, through its acquisition of Mobiqa, to provide support for more than 10,000 mobile devices, more than 600 wireless providers, and in more than 200 countries. The solution gives financial institutions a simple and fast way to set up a range of mobile banking services, such as account balances checks, transaction history, money transfer between accounts, bills payment, and branches and ATM location.
Fiserv financial services technology will begin personalizing chip payment cards based on the Europay MasterCard Visa (EMV) standard, which features a micro-processing chip that stores cardholder data securely. The adoption of dual-interface chip technology also helps prepare the U.S. payment infrastructure for the arrival of NFC 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.
Heartland Payment Systems payments processor earned recognition as a top technology innovator by InformationWeek on the “InformationWeek 500 List.” Heartland was recognized for its “E3” end-to-end encryption technology, designed to protect merchants without charging extra fees or requiring a large equipment investment. E3 safeguards sensitive credit and debit card data from the moment of card swipe or key entry. With EMV/chip card technology and near field communication (NFC) capabilities, Heartland’s E3 is helping merchants prepare for Visa’s Technology Innovation Program that will go into effect on October 1, 2012.
On the opening day of Sibos 2011, Clear2Pay, the international technology provider of next generation payment solutions for financial institutions and Systar (Euronext Paris ISIN: FR0000052854-SAR), the leading Business Activity Monitoring (BAM) solution provider, announce the first in a series of BAM solutions for Clear2Pay customers. Systar’s industry-leading BAM payment product will be integrated by Clear2Pay into its Open Payment Framework (OPF) environment, enabling Clear2Pay customers to gain the real-time performance insight required to pro-actively mitigate operational risk. The BAM solution will allow customers to increase the level of STP across payment silos in a proactive manner by identifying and addressing issues such as cut-off risk, consistency risk, performance issues and unexpected activity prior to impacting the payments cut-off.
Braintree online payments provider now is processing more than $8 million in online credit card payments daily, which is 268% of the same quarter of last year and is on track to process more than $3 billion in 2011. Part of this growth comes from overseas, where Braintree has aggressively been expanding its footprint in Europe, Australia, Asia Pacific and the Middle East. Braintree reports that international transactions now make up 15 percent of the company’s processing volume. Braintree is adding new merchants at a pace of 100 per month. The company expects to double its team during the next year to keep up with demand.
A large gathering of global stakeholders in the payment card industry will be attending the fifth annual PCI Security Standards Council (SSC) Community Meeting in North America. Ground Labs security and auditing software solutions for the payment card industry, will be a sponsor of this year’s event in Scottsdale, Arizona and participate in the Vendor Showcase. The PCI SSC Community Meetings provide an opportunity for industry stakeholders to learn from each other’s experience working with the PCI Data Security Standard (PCI DSS). Participants also have opportunities to raise new ideas for future versions of the Standards and learn about best practices for protecting cardholder data as they interact with solution vendors and other service providers in the industry.
PCI DSS and general security and compliance solutions provider New Net Technologies (NNT) has become a member of the PCI Security Standards Council. To enhance payment data security globally while embracing developing technologies, the council relies on the involvement of those across the payments processing chain, from merchants and service providers to payment device manufacturers and software developers, financial institutions and processors. As a participating organisation it will add its voice to the standards-setting process and receive previews of standards drafts, joining more than 600 organisations working to improve payment security.
Dynamics next-generation payment cards is set to launch its “Chip And Choice Technology” at Finovate Fall 2011 in New York City in order to fix EMV’s crippling software fragmentation problem. The “Chip & Choice” technology offers a secure, embedded chip and an exposed chip, from which a user can select different payment options by pressing different buttons on the card. Dynamics’ secure, embedded chip then writes a different, temporary chip profile into the exposed chip based on the user’s selection. In doing so, a user can select and use different payment applications even with readers that do not support such applications. This level of flexibility, unique to Dynamics payments cards, negates the needs for costly infrastructure updates in order to deliver powerful new functionality to merchants, networks, card issuers and consumers.
EastNets compliance and payment solutions has obtained the SWIFTReady workers remittance conformance label for 2011. en.MoRe is the first application in the workers’ remittances program offering a mobile remittance functionality where it demonstrated a real time remittance between a Telco operator and a receiving bank . A partnership agreement was signed earlier this year with BICS (Belgacom International Carrier Services) to provide mobile money transfer services to millions of migrant workers worldwide. BICS operates an international network, with over 550 direct connections, including more than 250 routes to mobile operators, in more than 170 countries.
ACT (Applied Card Technologies Ltd) contactless tickets and payments solutions was placed at position #49 in the recently announced Sunday Times Tech Track 100 listing of Britain’s fastest growing private technology companies. ACT which joined forces with sQuid in May earlier this year to create Smart Transactions Group, the new European leader in smart transactions, in a deal valued at $87 million (£53.3 million). ACT designs, builds and operates innovative smart IT systems and services for retail, tourism, transport and eMoney providers. ACT public sector solutions, helps to connect citizens to services. ACT is a hands-on technology company.
E-Debit Global Corporation has entered into a signed memorandum of understanding to expand its national ATM and POS independent sales organizations (ISO) network. E-Debit Global Corporation (WSHE) is a financial holding company in Canada at the forefront of debit, credit and online computer banking. Currently, the Company has established a strong presence in the privately owned Canadian banking sector including Automated Banking Machines (ABM), Point of Sale Machines (POS), Online Computer Banking (OCB) and E-Commerce Transaction security and payment.