ElectraCard Services (ECS), a leading provider of software and processing solutions for electronic payment systems announced the go-live of Islami Bank Bangladesh Limited (IBBL), with the new electra iTx series suite. ECS ensured that the migration of debit cards and ATMs from legacy platform onto the electra platform was executed in a span of only 4 weeks — making this one of the fastest EFT switch migration. The electra iTx series platform is a next generation PA-DSS certified secure transaction platform, built from the ground-up on open standards and industry best-practices to support the service oriented architectures (SOA) that are fast becoming the technology backbone of today’s leading organizations. This is a game changing technology that allows the user to control their application and EFT environment. It also helps to reduce the time to market for integration and to roll out new services.
European Payment Services Ltd., (EPS) has become the first entity in the world to validate its point-to-point encryption solution as having met the rigorous controls defined in the PCI Security Standards Council P2PE Standard for the protection of payment card data. The company can now offer its merchants a P2PE-validated solution for their credit card processing environments, enabling merchants to choose the Self-Assessment Questionnaire (SAQ) P2PE-HW. EPS’s Total Care is a compelling service managed solution, which can enable merchants to meet the significant challenges of achieving and maintaining PCI Data Security Standard (DSS) compliance, whilst saving significant costs across the business. It genuinely allows merchants to accept any payment card in any country in any currency via any acquirer, and reduces the PCI DSS scope of their cardholder data environments.
BS Mobile now allows you to make credit card collections without any additional software or hardware. It is a supplementary utility launched in conjunction with Ingenico this year. The bank strengthens its position as the leading financial entity in mobile banking. Banco Sabadell has included in its mobile banking service (BS Mobile) a utility that allows any user of the service to make collections from any credit or debit card. In practice, this means that BS Mobile transforms any smartphone, into a fully functional POS without needing any additional software or hardware to place at the disposal of its users the mobile banking service of the bank.
The Swiss banks have decided to promote the e-bill and to combine it with a new direct debit solution by 2016. SIX Payment Services has been mandated to align the new direct debit solution with the automated e-billing processes and to replace the existing LSV+ and BDD procedures. The e-billing functionality shall be improved and upgraded at the same time. The solution offers advantages for billers; debtors will basically be unaffected by the switchover. E-bills and direct debits will now be combined in one system with a common interface, which offers the greatest possible advantages for billers. For example, as of 2016, billers will receive direct debit registrations and cancellations electronically, as they are accustomed to with e-billing. The e-billing service offer will be further improved and upgraded, which will benefit billers and their customers alike.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union posted 3Q/13 revenues down 1% from the year ago period and were flat on a constant currency basis. Consumer-to-consumer (C2C) revenues declined 2%, or 1% constant currency, as transaction gains were offset by the impact of previously implemented price reductions in certain corridors. Western Union branded C2C transactions increased…
WorldPay US payments acquirer has earned the American Express EMV payment processing certification.In conjunction with the earlier completion of VISA and MasterCard EMV certification, this reinforces WorldPay’s ability to assist its current and prospective clients with the inevitable migration to chip cards in the US. The card payment networks establish individual requirements for EMV implementation and define the testing processes to certify against these requirements. WorldPay is working closely with Discover on certifying to their EMV requirements.
U.S. Bank announced the full market launch of its Travel VirtualPay product, following a successful pilot program. The bank is the first payment provider in North America to deliver a truly integrated travel payment and reconciliation tool that replaces manual central billing of hotel charges with single-use virtual account numbers. Travel managers can identify and track a booking from the time of reservation through final settlement and audit. The tool integrates directly with their current travel supplier or agency, allowing them to easily request a virtual account for each booking and consolidating all transaction data into one location. When a supplier charges the account, an automated reconciliation process accurately matches traveler and transaction, triggering immediate payment.
First Data ecommerce and payment processing acquired Perka smart loyalty program for undisclosed terms. The First Data subsidiary continues to operate autonomously as an innovative entrepreneurial company led by its current management and product development team. Perka is a mobile marketing and consumer loyalty platform that helps small to medium-sized merchants engage their customers with location-based smartphone apps. The Perka Punchcard service and Perka Flexpoints for retail stores and sit-down restaurants deliver sustainable and highly personal marketing and incentive programs to consumers. The cloud-hosted platform features merchant-validated transactions, triggered offers, mobile messaging, and retail customer relationship data for the merchant.
Ingenico posted 3Q/13 9 months ending revenue of EUR1.004 billion, up 17% from the year ago figure, and quarterly revenue of EUR348 million thanks to performance across all geographies and segments. Also, from the year figure, Growth momentum in North America was up 40%; growth acceleration in Transactions services due to Ogone’s successful integration was up 15%; and full-year guidance raised for revenue and profitability. Also Organic growth was above 12% and revenue exceeded the EUR1 billion threshold in nine months for the first time ever.
TIS GmbH has again continued its successful business development for 3Q/13 for high sales growth, having further technically developed its Cloud Platform for payment transactions. The current positive business development of TIS has considerably enhanced its attractiveness for potential new investors. The demand for ERP integrated, cloud-based solutions for payment transactions, liquidity and bank relationship management has become greater, particularly in view of the upcoming SEPA migration deadline. And this need spans all branches of industry and commerce, which is evidenced by the range and variety of TIS new customers in the third quarter of 2013 – they represent a highly diverse sampling from the business world.
Accumulate AB has filed a lawsuit in the District Court of Stockholm against Seamless Distribution AB (publ) for patent infringement. The lawsuit relates to Seamless’s mobile payment solution, SEQR. Accumulate requires Seamless to stop the use and marketing of SEQR. Accumulate has an extensive patent portfolio in the field of mobile payment solutions, with patents in several countries and customers worldwide. The current patent infringement lawsuit relates to a Swedish patent from the patent portfolio. Accumulate AB is a privately owned company with investors including the Sixth AP Fund, TeliaSonera, PayEx and Svea Ekonomi. Accumulate has long experience of mobile online solutions with more than 100 million applications delivered since 2004.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data 3Q/13 consolidated revenue is up 1% by $38 million to $2.7 billion while adjusted revenue was $1.7 billion, also up 1%, from the year ago period. The revenue spike was thanks in great part to a $32 million increase in reimbursable debit network fees, postage and other. For the…