As card chargeoffs are on the way up once again, credit outstanding held by consumers is on the way down. Having not seen an uptick since August 2011, card chargeoffs in April were up 27 basis points from the March figure of 5.17% to 5.44%, although the outlook remains bright for the remainder of this…
Visa launched Visa Payment Controls online platform allowing small business owners to manage how, when and where transactions and payments are made on employees’ business cards. Enhancing efficiencies and transparency to traditionally paper-based payment systems, this improves record keeping and reporting while providing valuable insight into where company dollars are spent. Visa Payment Controls gives small business owners the flexibility to manage how employees can use their cards based on location, spending limits and categories. Small businesses can choose Visa cards for spending control and visibility, tools to improve cash flow, purchasing convenience and access to money saving offers and rewards.
Chase Paymentech launched its new “Future Proof” terminal, allowing merchants to accept current and quickly emerging forms of customer payments all in one streamlined device. Accepting EMV (Europay, MasterCard, Visa) chip cards, as well as phone-based mobile wallets and other forms of contactless payment – while maintaining a commitment to security, convenience and the current value of traditional card acceptance, the Future Proof terminal is available through Chase’s bank branch network and at www.chasepaymentech.com and is designed for a wide variety of merchants and offers unmatched flexibility in payment acceptance. Merchants can now accept- in addition to magnetic-stripe payment cards- EMV-enabled chip cards, which are less susceptible to counterfeit and other forms of fraud, offering greater security and more streamlined processing; mobile wallets, which will help businesses in the future establish two-way communications with customers, building loyalty and unlocking new business opportunities; and Contactless payments.
The NFC Foundation Board of Directors elected Gary Spinazze to a two year term as Chair of the NFC Foundation, the charitable giving arm of Nash Finch Company. Board Member Paula Docken, Business Analyst, chair of the Community Outreach Committee was named as Chair Elect. The NFC Foundation Board is comprised entirely of Nash Finch employees who volunteer their time, energy and passion for community service in service to the Foundation and the community. Nash Finch Company supports the Foundation by shouldering the Foundation’s administrative expenses to ensure that donations are used to support those in need. Nash Finch associates from around the country volunteer on Foundation Committees as well as for our non-profit partners, donating their time, skills and money in support of the Foundation’s mission.
MasterCard cardholders now have the ability to earn valuable rewards and special offers when making qualifying purchases with their linked MasterCard card at participating retailers across the United States. MasterCard and shopkick partnered to give cardholders the ability to earn “kicks” proprietary reward currency when they link their card to shopkick’s Buy & Collect program and make qualifying purchases, which can be redeemed for gift cards, music downloads, movie tickets or other offers. Consumers will receive 250 bonus kicks for each MasterCard card they link to the Buy & Collect program, for a limited time during the kickoff period.
CorFire mobile commerce partnered Payfone remote m-commerce to integrate CorFire’s “CorPay” mobile wallet app with Payfone remote m-commerce solution. Payfone authenticates through the bank and carrier networks, making it easy for merchants to implement an accelerated user registration process. Payfone doesn’t require changes to backend systems or new payment marks. Moreover, consumers do not have to download or install the application which, in turn, enables merchants to quickly and easily increase conversions and improve customer loyalty. The “CorPay” solution is a single, intelligent mobile wallet platform that essentially virtualizes current wallet functions so that consumers no longer have to carry a physical wallet. It allows consumers to use their mobile devices to pay for goods and services while on the go.
U.S. Bank has introduced the U.S. Bank Cash+™ Visa Signature® Card that allows cardholders to choose the categories in which they will earn 5 percent and 2 percent cash back. With choice of categories and no earning limit, cardholders are in control of receiving the most cash back because they must choose their categories every quarter, allowing them to maximize their earning potential. In addition, U.S. Bank cardholders receive a $25 bonus if they redeem $100 at one time. With no minimum redemption, cardholders can select how much they want to redeem as well as how they would like to receive it. Redemption choices include a statement credit or a deposit in a U.S. Bank checking, savings or Money Market account. Cardholders can also select a U.S. Bank Rewards Card with a $20 minimum cash back redemption.
FIS banking and payments technology forged definitive agreement to sell its Healthcare Benefit Solutions business to Lightyear Capital for $335 million. The all-cash transaction is expected to close by the end of the third quarter of 2012, subject to required regulatory approvals and customary closing conditions. The sale includes FIS’ Consumer Driven Healthcare Solutions and Health and Financial Network Solutions, which provide benefits administration, multi-purse debit card and benefit account processing and payment fulfillment services to consumers, healthcare providers and payers. FIS will retain its state and federal government-sponsored electronic benefits transfer (EBT) businesses and programs which serve clients in more than 25 states.
Bill.com integrated bill payment, invoicing and cash management solutions for businesses announced the general availability of its powerful cash management feature that completes the Cash Flow Command and Control System. This new feature leverages Bill.com’s proprietary, cloud-based accounts payable and accounts receivable systems to deliver a more fluid method of cash flow management than ever before possible. Bill.com’s cash flow system is the only solution that connects user’s banks, books and business, enabling companies of all sizes to finally rid themselves of the cumbersome, error-prone and highly manual spreadsheets that have plagued finance for decades.
Failsafe Payments launched two payment modules for popular shopping carts, “Cs -Cart” and “Zen Cart de.” These are provided free of charge and allow Internet merchants to safely and easily accept payments by cards and other payment means on secured CertoPay payment page, fully compliant with PCI DSS standards. Installation and configuration settings are easily performed in accordance with provided API and don’t require Internet merchants to possess specific programming skills.
VASCO Data Security International software security company specializing in authentication products launched a new version of its IDENTIKEY Appliance, which incorporates IDENTIKEY software version 3.4 and offers support for hardware security modules (HSM), typically used in online banking environments. The updated appliance helps banks and financial organizations to achieve PCI DSS compliance and is specifically tuned to fit the needs of the financial market. VASCO’s IDENTIKEY Appliance provides organizations with a plug-and-play managed server while maintaining the mandatory compliance. It also offers automatic updates, platform system monitoring and schedule back-up as well as extensive reporting tools.
Visa unveiled its VIP Lounge for Visa Chase Cardmembers during the London 2012 Olympic Games providing a retreat exclusively for Visa Chase Cardmembers while attending the Olympic Games. The VIP Lounge will also host a series of meet-and-greet events for Visa Chase Cardmembers to attend with Olympic athletes, who will sign autographs, tell their personal Olympic stories and pose for photographs with cardmembers. The VIP Lounge also partnered with celebrity Chef Morimoto to create a pop-up restaurant at the venue throughout the Olympic Games on a nightly basis. Guests will also enjoy continental breakfast, lunch, tea, snacks, and beverages throughout the day; More than 15 HDTVs; Wi-Fi & Computer access; and Concierge Services and phone recharging.