Chase today unveiled a new simple and clear disclosure form for its Chase Liquid® prepaid card. Chase is the first prepaid provider to adopt a new model disclosure box released today by Pew Charitable Trusts. The new disclosure form allows customers to plainly see a description of fees and when deposits are available in a simple, easy to read format. The new prepaid disclosure form builds on Pew’s success in creating a model simple disclosure form for checking accounts. In December 2011, Chase worked with Pew to develop a revised summary guide for Chase Total Checking that made its terms and conditions easier to understand for consumers.
AnywhereCommerce launched its latest version of its mpayment acceptance device, “Rambler 3.0.” Engineered with increased flexibility to work with most smart phone and tablet cases, the “Rambler 3.0.” transforms smartphones and tablets into full-featured, highly secure mPOS, enabling secure and reliable acceptance of magnetic stripe card payments. Supporting multiple card-present magstripe payment methods, including debit, credit, gift and loyalty card transactions, Rambler 3.0 is a cost-effective solution for nearly any card acceptance need. This third-generation release of the product includes a redesigned form factor featuring flexible clip-arms for a surer, more snug and secure fit when attached to a smartphone or tablet.
NXP Semiconductors announced its NFC controller, PN547, is successfully integrated with Google’s latest version of the Android 4.4 operating system, ‘KitKat’. Android 4.4 now offers new platform support for NFC-based transactions through host-card emulation (HCE), allowing Android smartphone owners to use their phones to initiate a wide range of mobile applications, including payments, loyalty programs, card access, transit passes and other customized services. Support for Android 4.4 and HCE allows more consumers to experience the potential of NFC and will further expand the ecosystem. NXP has successfully demonstrated and validated multi-Secure Element (embedded SE, UICC based SE and HCE) performance on its leading NFC controllers to facilitate OEM adoption and integration. PN547 improved RF performance, easing EMVCo and NFC Forum certifications while using smaller antenna size and lowering overall solution bill of materials.
PAYe Network announced the launch of its USA network at the ATMIA Conference 2014: Reinventing the ATM. PAYe Network is the world’s first universal ATM ‘Pay-In-Pay-Out’ global cardless network with over 1 million cash-access-points with built-in interoperability to existing financial networks and full regulatory compliance. PAYe transactions can be initiated with or without a card by utilizing state-of-the-art virtual tokenization technology and patent pending systems and methods. PAYe identified a problem in the current payments system and has developed a unique solution. The problem is that ATM networks only allow for bank issued debit and credit card transactions.
USA Technologies announced an agreement with AirVend, a provider of innovative technology focused on the vending industry, that further broadens the menu of cashless payment offerings available for users of USAT’s ePort Connect® service. AirVend offers an android-based interactive touchscreen point-of-sale device designed to enhance the POS experience and ease compliance with proposed government product content disclosure rules. USAT, through its ePort Connect service, has become AirVend’s preferred service provider for vending and other unattended retail applications, including kiosk, laundry and amusement industries.
On Track Innovations Ltd. has been issued a new patent by the United States Patent and Trademark Office (USPTO) that enhances its innovations in the field of contactless smart cards. The new U.S. patent No. 8,651,387, titled “Multi-Application Contactless Smart Card,” describes a multi-application contactless smart card system and method that allows a user to select an application using a unique switching mechanism located on board the smart card. This innovation allows, for example, the accommodation of several ‘application cards’ on the same physical card.
IKaaz has embarked on the African market with the launch of its innovative tap and pay offering. Consumers can now make NFC payments thanks to iKaaz’s NFC powered mobile payments platform running on the cloud. iKaaz provides a comprehensive suite of end-to-end mobile payments solutions that include a feature rich mobile wallet, an innovative – yet cost effective mPOS (mobile Point of Sale) and a robust payments platform that allows banks, operators and financial institutions to extend mobile payments to their customers in a fast, secure and cost effective manner. Consumers use NFC tags that are linked to the mobile wallet similar to a debit card that is linked to bank accounts; while merchants on the other hand, will use iKaaz NFC mPOS to complete transactions all of which are processed by iKaaz’s robust payments platform.
Bpost bank launched its mbanking app designed and implemented by Sopra Banking Software. Sopra Banking has been bpost bank’s core banking system partner continuously for almost 20 years. As a logical consequence of its core banking modernization program, bpost bank realized that it wanted to offer its customers a mobile banking app for smartphones and tablets. Beyond being part of the wave of banks adopting mobile banking, the app was also strategic for a long-standing customer segment familiar with tablets but distrustful of traditional pc banking. bpost bank found a full end-to-end solution with Sopra Banking Software.
MasterCard and OTP Bank Hungary announced OTPay digital wallet in Europe to leverage the application programming interface (API) of MasterPass. This application is customized to OTPay customers, making the online use of payment cards easier and more comfortable for cardholders. The OTPay mobile application will be available for download not only for OTP Bank customers, but for clients of other banks too. The application will allow cardholders to shop and pay at over 30,000 MasterPass™ accepting merchants around the world. The application was developed by Cellum, the Hungarian company group known for delivering mobile payment solutions with banking-grade security, also a developer of a MasterCard® Mobile solution, which has been running for more than two years.
Alpha Bank and Vodafone, in partnership with Visa Europe and First Data, introduce “Tap n Pay” NFC mphone app for contactless payments. With a Vodafone mobile SIM card, on which the Alpha Bank Enter Visa debit card, is stored. The Tap ‘n Pay application enables contactless transactions in shops where contactless card acceptance terminals are in use, by debiting the bank account that is linked to the debit card. In order to complete the transaction, users must hold their mobile phone within five centimeters of the contactless terminal, and the transaction will be completed securely in a split second, without requiring either a signature on a transaction receipt or the entry of a PIN number.
Greggs launched its new ‘Greggs Rewards’ mobile payment app designed to reward its customers for their loyalty whilst making shopping across its 1,700 shops more convenient, quicker and easier. The new rewards app which went live nationally this week, is the first entirely digital loyalty scheme launched by a UK food-on-the go retailer that eliminates the need for customers to carry a separate loyalty card or their wallet when they shop. By registering for a Greggs Rewards account via the app or online at www.greggs.co.uk, customers can top up their accounts with any amount from £5-£50 using their debit/credit card or with the added safety and simplicity of PayPal, allowing them to pay securely in-store with their smartphone.
The number of U.S. credit card accounts or cards-in-force among top issuers has slowly been rising, up 3.7% since 2011. MasterCard reports the number of U.S. credit cards-in-force is up 5.0% since 2011 and 8.3% last year. MasterCard now has 337 million credit cards in the U.S. market, compared to 311 million in 2012 and 321 million in 2011.