On Track Innovations cashless payment solutions based on contactless transactions and near-field communication (NFC), has received official certification to use MasterCard’s “Mobile MasterCard PayPass – M/Chip 4” technology in OTI’s Wave, a new NFC add-on for smartphones, tablets and PC devices. The Wave is the industry’s first audio jack plug-in NFC payment solution and the only to receive certification from a major payment company like MasterCard. Based on OTI’s patented NFC technology, the compact Wave dongle is device agnostic, easily plugging into any smartphone, tablet or PC, allowing users to pay with their device while enjoying real-time benefits from loyalty programs and other incentives as delivered by the corresponding application. It opens up a whole new world of mobile device applications, while alleviating the burden of a wallet full of credit cards. With Public Key Infrastructure on the Java OS, it offers NFC payment performance.
payworks mPOS processing partnered Orderman ordering and billing systems in the restaurant and hospitality business to build a Chip & PIN solutions for mobile ordering terminals. Orderman integrates the payworks mPOS SDK into their ordering and billing systems, enabling their merchants to accept payments with low cost and pocket size Chip & PIN devices. The combined solution will be presented at IGEHO, one of the largest exhibitions for the hotel sector, taking place in Basel/Switzerland from 23rd to 27th of November 2013. Orderman integrates the payworks mPOS SDK into their products. The implementation enables merchants using Orderman terminals to equip their staff with a fully certified, low cost credit card terminal, which they can carry around in their pockets, reducing checkout time significantly and enhancing the interaction with their guests. Prior the now introduced solution, the staff had to get a wireless terminal from the sales counter each time a customer wanted to pay by card.
Oberthur Technologies, one of the world’s largest providers of security and identification solutions and services based on smart card technologies, announced that MoreMagic, an Oberthur Technologies company, has joined the MasterCard Mobile Money Partnership Program (MMPP), a program designed to help more than 2.5 billion financially-underserved consumers around the world use their mobile phones to access mainstream financial services. Through its MoreMagic Mobile Money offer, Oberthur Technologies enables a full suite of banking, payment and commerce services in areas where there is a lack of banking infrastructure. Relying on the industry’s most comprehensive suite of applications, the solution connects a global mobile financial ecosystem that links mobile operators, financial services organizations, retail distributors, NGOs and other businesses.
Western Union payment services launched “My WU” reloadable prepaid card in conjunction with Lottomatica, which is now part of the Western Union Global Share platform. Western Union launched new stored-value solutions in markets around the world by joining forces with local companies. The “My WU” prepaid card is designed to serve the more than 4 million registered migrant workers in Italy who need convenient access to financial services. The cards will be available at 15,000 Lottomatica Carta Lis locations throughout Italy and online at wu.com/it/mywu/prepaid. Customers also will have the option to reload their My WU prepaid cards at more than 22,000 locations and over 10,000 ATMs across Italy. The “My WU” cardholders will also be able to fund Western Union Money Transfer transactions using their cards at Lottomatica locations where the service is available.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Conference Board statistics are currently not being updated due to the suspension of Federal government services. The last update to our Conference Board statistics was August 22, 2013 for the month of July. During the shutdown period, Cardweb will not collect data or issue reports in this capacity. Updates to this…
Acculynk has been selected to participate in ATM Debit & Prepaid Payments Innovation Day and will highlight its “Payzur” personal commerce (p-commerce) payment technology. The “Payzur” solution is 100% white labeled allowing financial institutions the ability to fully brand P2P transactions without an intermediary brand. It combines the established EFT debit rails with Acculynk’s patented online graphical PaySecure® PIN pad. This new approach represents an ‘out of the box’ round trip P2P transaction for financial institutions. The annual Payments Innovation Day (PiD) demonstration showcase features cutting-edge solutions driving innovation in payments and includes demonstrations in quick-fire format from up and coming companies.
VeriFone announced Holiday Oil completed a chain wide rollout of its “LiftRetail” marketing solution, which uses POS-connected digital screens to engage each shopper with relevant offers and coupons. Additionally, it analyzes each item in a shopper’s basket in real-time to make the right offer to the right shopper at the right time. The result is a proven increase in sales, delighted shoppers, and empowered cashiers. Instead of relying on paper punch cards, LiftRetail tacks each shopper’s purchases by mobile number and automatically redeems their sixth coffee for free. It also customizes advertiser-funded offers to match the prices, promotions, and item availability of each retailer for a centric marketing platform funded by CPG manufacturers.
Oberthur Technologies has joined the FIDO (Fast IDentity Online) Alliance and has been appointed to the Board of Directors. FIDO members commit to share technology and collaborate to deliver open specifications for universal strong authentication that enables FIDO authentication methods to be interoperable, more secure and private, and easier to use. Thanks to FIDO specifications for an end-to-end framework, end users will have an improved customer experience without having to remember multiple passwords for different services. FIDO specifications will support a full range of technologies, including biometrics such as fingerprint and iris scanners, voice and facial recognition, as well as existing authentication solutions and communications standards such as Trusted Platform Modules (TPM), USB Security Tokens, Smart Cards, Near Field Communication (NFC) and many other existing and future technology options.
TSYS made available its 2013 Consumer Payment Choice Study, which consists of an online survey and in-person focus groups ” both of which were conducted to gauge current and potential future consumer payment preferences. The nationwide primary consumer research study utilizes both quantitative and qualitative data to highlight how consumers are making payments today and how that may change in the future. The results are meant to provide helpful information for use in developing and confirming payment strategies and initiatives. More than 1,000 consumers who have and use both a debit card and a credit card were surveyed on payment choice, indicating payment preferences vary by type of merchant and location, with credit being the preferred payment type for online purchases. meanwhile, rewards and discounts are the most effective way to influence consumers to use a payment type more often, whom actively use their mobile devices for overall financial activity.
YESpay, the latest member of the WorldPay Group, is now deploying its Omni-channel Point-to-Point Encrypted (PTPE) integrated payment service to its first few UK high-street retailers fully ¬accredited by WorldPay Streamline. The solution achieves card data encryption within the Ingenico IPP350 PEDs (PIN Entry Devices) and decrypts the critical card data at the YESpay payment gateway within HSMs (Hardware Security Modules). YESpay’s PTPE solution complies with security recommendations specified by Visa ‘Data Field Security’ Best Practices and Payment Card Industry Security Standards Council (PCI SSC). YESpay has engaged its QSA, FortConsult, to audit and validate the solution to PCI SSC which is expected to complete in first half of 2014.
iVeri’s EMV chip-and-PIN mobile payments solution, mPress has been approved by the Visa Ready program. Visa Ready is designed to provide innovators with an easy way to collaborate with Visa and quickly introduce Visa-compliant devices, software and solutions that can be used to initiate or accept Visa payments. As well as being Payment Card Industry Data Security Standard compliant, iVeri’s mPos services are EMV-approved and meet industry standards and best practices for mPOS devices according MasterCard, another major card network.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With a net loss of $0.4 billion for the third quarter of 2013, compared with net income of $5.7 billion in the third quarter of 2012 JPMorgan Chase reported credit card sales volume of a record $107.0 billion, up 11%, while merchant processing volume totaled $185.9 billion, up 14%. Revenue for…