VeriFone Systems secure electronic payment has conducted preliminary financial results for the full year and three months ended October 31, 2011 and guidance on the next fiscal quarter and year. This shows a FY/11 revenue of between $414 million to $416 million while adjusted EBITDA is estimated to be in the range of $77 million…
There has been a 16% increase in the U.S. online market as retail e-commerce sales continue to rise to $309 billion in 2011 and are further forecast to climb to an estimated $444 billion by 2016. Also, from 2011 to 2016, the total payments volume (TPV) for the online use of credit cards by U.S. consumers will climb 63%, while the TPV for debit cards is expected to rise just 2% during that same period. This, according to Javelin Strategy & Research, concludes credit cards typically generate higher consumer spending and greater revenue for merchants, but frenzied purchasing periods such as Cyber Monday can cause consumers to throw cautionary spending patterns to the wind and take advantage of the “deal” phenomenon. Javelin’s study shows that consumers spend more money on a single online transaction using credit cards than when using other payment options, spending an average $82.10 with a major credit card versus $58.29 using a major debit card.
Offering a barometer on the sharp increase in retail purchases over the holiday weekend, Paypal posted a 511% rise in global mobile payment volume compared to Thanksgiving 2010. Moreover, the number of consumers around the world shopping via PayPal increased three-fold (350%) from last year.
Gilbarco Veeder-Root has certified Heartland Payment Systems’ ” SmartLink Managed ProPlatinum,” “ProPlus” and “Pro” managed network services as a certified solution on the Gilbarco Passport POS system. As a certified partner of network services on Gilbarco’s Passport POS system, SmartLink provides secure network connectivity that operates efficiently and effectively to deliver payment transactions on Gilbarco equipment in a PCI compliant environment. SmartLink is a secure, managed network service that effectively supports secure transaction data and back-office systems, allowing petroleum and c-store operators to spend less time managing their networks and more time caring for customers.
Structured information technology and systems integrator of secure and scalable IT solutions and services completed PCI Standards Council certification process to provide qualified security assessor (QSA) services to merchants, banks and service providers in the North American market. The data security auditing and PCI readiness services now offers PCI readiness to final on-site data security assessment to guide businesses through the complicated process of achieving PCI Data Security Standard (DSS) compliance.
Virtual Piggy has received Level 1 PCI DSS certification to provide an ecommerce system that allows merchants to interact and transact with the youth market. To achieve PCI certification, Virtual Piggy underwent a comprehensive third party assessment of its policies, procedures and technical systems by Coalfire Systems, a Qualified Security Assessor (QSA) company, as certified by the Payment Card Industry Security Standards Council.
Protecting personal information on credit/debit cards can be done with the ICFE’s new anti-RFID Credit/Debit Card Sleeves. The anti-RFID technology protects from hand held RFID scanners, which scan the unprotected cards of unsuspecting consumers. The specially laminated credit/debit card sleeves are designed to keep personal information safe from prying electronic eavesdroppers. Electronic pick pockets will be out in force during the Christmas shopping season, especially at the malls.
TransPerfect “GlobalLink OneLink” language services has been PCI DSS certified. The solution for website localization will now meet all appropriate guidelines for handling sensitive client data related to online credit card transactions are followed, minimizing risks associated with transacting business over multilingual e-commerce sites around the world. Clients who choose OneLink for their site localization needs will now enjoy the added peace of mind that PCI certification offers. This extends to end users and consumers who entrust their confidential information, including credit card data and personal details, to these websites.
GlobeOp Financial Services has enhanced its GoLoans service to offer bank loan portfolio managers online access to a single, integrated source of lifecycle events data. GoLoans offers highly automated lifecycle management support for a wide range of instruments, including revolvers, term loans, delayed draws, multi-currency and payment-in-kind (PIK). Position accuracy and independent portfolio valuations are determined by directly accessing and comparing multiple external data sources. A dedicated team of experienced bank loan specialists advocates on behalf of clients directly with agent banks and counterparties.
A positive customer experience and PCI compliance are no longer mutually exclusive in the contact centre courtesy of new technology from NewVoiceMedia, a global provider of cloud contact centres. The company has launched a new mid-call IVR service that enables agents to take card payments securely from customers by transferring them to an agent free IVR service to take the sensitive card data. Following payment the caller is automatically transferred back to the agent to conclude the call ensuring customer service is maximised. With the NewVoiceMedia cloud based mid-call IVR service callers can now have peace of mind that their payment details have been processed securely but also feel comfortable that they are speaking with the same agent before and after the transaction has been processed.
Navy Federal Credit Union and Cartera Commerce card-linked marketing solutions released a new card-linked offer program for Navy Federal members to boost rewards for shopping. Navy Federal launched its new Member Mall to more than one million members. Members can now earn extra cash back or rewards points — up to 15 times their normal rewards earning — with online shopping offers linked to their Navy Federal credit card accounts. The program is run on Cartera’s card-linked offer platform, which powers card-linked offers for four of the top five financial institutions, four of the top five airlines and more than 150 million U.S. consumers. The Cartera platform is a fully hosted, managed service allowing Navy Federal to pull merchant offers from Cartera’s exclusive Offer Cloud, link them to card member accounts, display them via multiple marketing channels, track and confirm purchases, and deliver rewards.
MultiCarta and Compass Plus have commenced the final stage of modernizing its processing center, servicing the VTB Group international banking and financial group. The entire “TranzWare” product suite was integrated into the architecture of MultiCarta’s in-house processing system and put into commercial use in August 2010. Since then a gradual transfer of the serviced banks has been in progress, as well as connecting new customers to the TranzWare processing platform. The VTB24 ATM network is currently being migrated to TranzWare.