Robert McKinley, Senior Analyst/Editor Robert McKinley, with 33 years experience covering payment cards and payment systems, is Senior Analyst/Editor for CardFlash and other payments-related publications. He is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. McKinley served as an expert witness in 100+ litigations including two multi-$billion trials, testified before the U.S. Congress, chaired multiple payments conferences, hired as consultant by Fortune 100 companies and several overseas financial institutions. Full Bio: www.rbm4.com

Ecentric Deploys Stanchion P2PE

Transaction processing specialist Ecentric Payment Systems is boosting the performance and security of transactions by implementing hardware encryption devices supplied by Stanchion Payment Systems.The Futurex devices are unseen to the general public, yet perform an essential function every time a credit, debit or other card is used: they make sure the information exchanged between point of sale, bank and customer account is completely secure. Ecentric Payment Systems is a transaction processing business which processes all card transactions and other payments.

Payfont Nails Down Scottish Enterprise funding

Payfont has been awarded £100,000 funding from Scottish Enterprise, helping to fund its online security to counter data theft disasters. The Anonymised, Distributed, e-Commerce Architecture (ADeCA) will protect organisations and their customers by managing distributed data fragments via a contextual security protocol. It makes a user’s data completely unique to that user, anonymous to others. This approach raises the bar significantly against Cybercriminals used to stealing large databases of data records that rely on standard encryption and linear access security methods.Cybercrime and its identity theft and money laundering consequences are now at epidemic proportions globally.The 2014 average data breach cost for a company is US$3.5m, up 15% on 2013.

TSYS signs agreement with the Philippines’ Metrobank Card Corporation

TSYS signed an agreement to license its PRIME payment transaction processing platform to Metrobank Card Corporation (MCC) in the Philippines. MCC is a strategic joint venture between Metrobank and Australia New Zealand Bank and is one of the largest issuers and acquirers in the Philippines’ market. MCC will license PRIME 4, the latest version of the payment processing platform, to manage its multi-payment card issuing and merchant acquiring together with online authorization and switching on a single platform. Value-added services for installments, credit, loyalty, collections, dispute and chargeback management and acquirer fraud monitoring will also be offered as part of PRIME 4’s integrated payment solution.

MC CANADA Q2

MasterCard’s Canadian gross dollar volume increases 5.4% in the second quarter, while Visa’s Canadian gross dollar volume remained flat. MasterCard has 49 million cards-in-force currently in the Canadian region. RAM Research projects MasterCard Canadian purchase dollar volume will rise slightly to US$34 billion in the third quarter.

Target Project $148mm in Losses Thanks to Infamous Breach

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Target announced 2Q/14 expectations are projected to include gross expenses of $148 million, partially offset by a $38 million insurance receivable, related to the December 2013 data breach. The Company provided an estimate of costs related to its recently-completed early debt retirement and updated expectations for second-quarter Adjusted1 and GAAP earnings…

Global Payments signs referral agreement with BitPay

Global Payments payment solutions has signed a referral agreement with BitPay bitcoin digital currency. This allows Global Payments to incorporate the cryptocurrency into its product suite and to offer bitcoin payment acceptance to its worldwide merchants. The cross-border demands of global merchants all bitcoin acceptance to reach more customers in more markets, particularly in fledgling economies.