The Chip & Pin deadline will spur an increase in fraud so saith some. The rate of fraud won’t decrease; it will go up to record levels just before the deadline. Afterwards, we will start to see record levels of Card Not Present (CNP) fraud in the U.S., just as it has risen elsewhere Chip and PIN has been adopted.
Bank of the Philippine Islands inked a deal with Global Payments to form a joint venture to provide merchant acquiring and payment services in the Philippines.
Pakistan’s largest payment system by market share has entered into a strategic partnership to introduce JCB debit cards in Pakistan.
This initiative is a valuable addition to 1LINK’s portfolio of international payment programs which include Visa, MasterCard and China-based UnionPay International.
MeaWallet launches Mobile Business Components (MBC) that handle the complexity of securing contactless integrated services and APIs. The contactless mobile payment service can be used at NFC-enabled POS-terminals in the stores and at the vending machines that support the existing global payment schemes for contactless payments. MeaWallet already supports other pairing methods like BLE, QR- and barcodes and Wifi. The contactless payment service is based on licenses for existing and emerging cloud based payment schemes. It uses Host Card Emulation (HCE) and tokenization to increase security, deliver flexibility and improve availability on most of the available smartphones. The new set of tools enables services on smartphones using Android 4.4 and newer operating system releases. MeaWallet is planning to support additional mobile platforms next year.
VeriFone Systems reported net revenues (GAAP) were $491 million for the three months ended October 31st (Q4 FY14). Non-GAAP net revenues for the latest quarter were $491 million, compared to $432 million a year ago, a 13% increase.
New research expects Near Field Communications (NFC)-enabled mobile handset payments will account for $130 billion globally in consumer retail spend by 2020.
Denver-based Coalfire has been updated to include new Payment Card Industry (PCI) Data Security Standards (DSS) that will help large organizations manage their Self-Assessment Questionnaire (SAQ) process.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Margaret Keane, President and Chief Executive Officer, of Synchrony Financial.
Los Angeles-based Netcom PaySystem has signed a deal with a medium to high risk processor. Netcom wants to provide merchant processing to medium and high risk eCommerce merchants located in the United States, EU, UK, and Canada.
Seventy six percent of merchants believe a strategic partnership with payment providers would provide opportunities to enhance their value proposition to customers, however, only 31% reported partnering with a payments provider.
USAePay has released their Android App update version 1.3.8. The update version 1.3.8 includes updates such as having the ability to collect location data of transactions and adding a one time purchase.
Houston based P97 Networks, developers of PetroZone, a cloud based mobile commerce and behavioral marketing platform for the convenience and fuel retailing industry, announced today the closing of an $8 million Series A funding.