Market experts believe real-time ACH payments will become a reality in the U.S. within the next two years, based on a survey of 120 financial industry professionals. Momentum for faster payments has been accelerating with government call to action for the U.S. to adopt a real-time payment system within 10 years. The results of ACI’s latest survey highlight that the majority of industry professional respondents believe this vision can and will be achieved in far less time. ACI’s survey found 27% of respondents have not made a payment through their mobile device, somewhat surprising given that those surveyed are the same professionals pushing forward the ‘mobile revolution.’ Findings also show 70% believe real-time ACH payments will become a reality within the next one to two years and 92 percent within the next five years, 86% believe real-time ACH will add “significant” value to businesses and corporate bank clients and 34% rated social media’s importance to financial institutions as neutral to not important.
At Mobile World Congress last week MasterCard announced a collaboration between Deutsche Telekom, Telefónica Deutschland, Vodafone and TREVICA (a MasterCard owned company) to create a new mobile platform and accelerate the development of mobile payments in Germany. The three mobile operators represent 80% of mobile customers in Germany, which means that banks and financial institutions can hugely accelerate their ability to provide mass- market mobile payment services to consumers. Instead of connecting to individual mobile operators, issuing banks can now connect to TREVICA and have access to a number of mobile operators with one single integration to the TREVICA platform.
Ingenico is bringing together its European business (“Europe-Sepa”) and its Transactions business under the management of Pierre-Antoine Vacheron, EVP Sepa to build a leading payment service provider in Europe. Over the last twelve months, the Group has accelerated the implementation of its Transaction Services strategy, focusing on the combination of off-line (Axis, easycash) and on-line processing. Ogone has continued to grow significantly within the Transaction business unit, building on the common DNA shared by the various transactions activities within the region. With the integration of Ogone now well under way, Peter de Caluwe has decided to start a new professional project outside the group.
Corethree has formed a strategic partnership with Barclays for the inclusion of Barclays Pingit ‘mobile check-out’ in Corethree’s award-winning mobile wallet for transport ticketing. This is a UK first in mobile commerce and sees the cutting edge UK tech company Corethree become the first business to integrate Barclays Pingit mobile checkout. Wessex Bus’ Uniconnect network in Bath will go live with Corethree’s m-ticketing solution on Monday 23rd September 2013 as part of Bath University’s freshers’ week. Over the next 12 months, Corethree and Barclays will rollout their mobile payment services to other transport operators to reach as many as 1 million passenger journeys per day.
AzeriCard card processing and OpenWay, a recognized leader in software solutions for the payment industry, improved mobile banking service with the WAY4 Cash By Code technology. By generating a code on a cellphone, this technology allows for withdrawing cash on an ATM without a plastic card. This convenient ‘mobile wallet’ proved appealing to clients of 14 of AzeriCard’s partner banks. The new service also works as instant money transfer to recipients without a bankcard. The mobile banking with the Cash By Code option was developed by OpenWay. The solution works on iPhone, Android and BlackBerry smartphones, as well as on Java-enabled feature phones. The mobile banking menu allows the user to type in an operation amount and select the preferred card and currency from the list.
Acculynk “PaySecure” user-authentication for e-commerce partnered UnionPay International to provide e-commerce authentication (UPOP) service to US based merchants. UnionPay International is a subsidiary focusing on international business of UnionPay, a global bankcard network with over 3.5 billion UnionPay cards issued worldwide. A single PaySecure implementation on the merchant’s e-commerce site also provides the capability to generate sales lift from new PIN-debit customers in North America, Asia-Pacific, Latin America and the Caribbean. Acculynk provides a flexible, customizable online- and mobile- authentication technology that meets local needs and regulatory requirements in international markets. Country-specific authentication changes can be incorporated without disrupting the merchant or acquirer. The “PaySecure” solution two-factor authentication provides online merchants with a secure, low-cost, guaranteed funds payment in which the merchant also benefits from a 100% shift of fraud chargeback liability.
PayOne mobile payments and carrier billing filed a patent infringement lawsuit against The Home Depot, Inc. in the Northern District of California. The suit asserts The Home Depot retail store deployment and use of PayPal’s in-store checkout infringes on multiple PayOne patents including the use of a mobile phone number and a PIN (personal identification number) to complete the checkout process and payment at point of sale. The complaint seeks unspecified damages and a court-ordered injunction against future infringement by The Home Depot. The asserted PayOne patents include United States Patent No. 7,848,500, entitled “Method And Apparatus To Validate A Subscriber Line”; and United States Patent No. 7,848,504, entitled “Method And Apparatus To Validate A Subscriber Line.”
Nedbank launched its “PocketPOS” EMV certified mobile POS solution, allowing businesses to process payment card transactions on a smartphone connected to a secure card reader. It is suitable for any business that wishes to accept card payments securely without access to a fixed data or telephone line or where low frequency of card acceptance does not warrant the higher rental cost of a traditional POS device. PocketPOS is designed to operate where EMV ‘CHIP & PIN’ technology has been mandated, and uses a certified secure card reader and advanced encryption to capture and protect the card data and PIN. The “PocketPOS” solution is available as a small device with a secure PIN pad that requires the merchant to capture an email address into the smartphone application or as an alternative device with the ability to print out a physical receipt, much like in the case of a traditional POS.
Acculynk’s Payzur personal commerce (p-commerce) solution for debit cards announced Gesa Credit Union will pilot the P2P solution for its members, for which Crystal Clear Payments will serve as a channel partner. The Acculynk platform allows financial institution customers to send funds simply by authenticating the mobile- or web-initiated transaction with their bank issued PIN via the PaySecure patented online graphical PIN pad. Since Payzur is not ACH based, there is no enrollment or waiting period for consumers to begin using the service. Acculynk contracts with financial institutions directly and through channel partners to offer the Payzur p-commerce solution to their customers. For it, Crystal Clear Payments will provide payment processing solutions to the financial industry including credit signature processing; debit signature processing; PIN-based processing; Intelligent ATM services; cardholder loyalty programs; fraud moxie risk management, detection, and prevention; and card manufacturing programs.
The development of mobile wallet technology is being held back by a number of ‘hidden controls’ which remain largely unexplored in the public domain, asserts Mobey Forum, the global bank-driven industry association enhancing the evolution of a sustainable and prosperous mobile financial services (MFS) ecosystem. Published today, Mobey Forum’s latest white paper ‘Mobile Wallet: The…
Gemalto deployed its next generation multi-application advanced smart cards technology to EasyCard Corporation allowing micropayments on the widely used transport card enjoyed by over 30 million cardholders that ride the metro in the Greater Taipei Area. The new Gemalto Celego card supports both contact and contactless functionalities, allows users to securely check their personal transaction records from the Internet, to make e-payment for government services and to conduct Internet shopping. Gemalto made available its full set of consulting services on specifications, provided operating system development and certification, and advised EasyCard Corporation on the migration path and opportunities to this new high end multi-application product. The Gemalto Celego card has obtained the Common Criteria EAL4+ top level bank security standard certification. This enables EasyCard to meet the Taiwan Financial Supervisory Commission stringent requirements.
The Samsung GALAXY S III will be Samsung’s Olympic Games Phone during the London 2012 Games through its partnership with Visa. Visa “payWave” will be available for Samsung and Visa sponsored athletes and trialists, making it possible to buy merchandise with a wave of the device at thousands of retail locations throughout London. Samsung’s Olympic Games phone for the London 2012 Games, comes equipped with NFC payment capability and is the next step in the partnership between the two global Olympic Games sponsors as they work together to drive the availability of commercial mobile payments around the world. There will be more than 140,000 contactless terminals hosting spectators from the moment they land, in taxis, retail outlets and the Olympic Park itself.