Reintroduced EFT

DebitWay.ca has reintroduced its long standing online payment option; Electronic Funds Transfer (EFT) to merchants. EFT is not a novel payment solution, nor is it new to the DebitWay family. DebitWay continues to be one of the leading Payment Service Providers in the world, as well as a Certified Payment Provider of INTERAC® Online Payment (IOP) solution in Canada.

MC CANADA Q1

MasterCard’s (MC) Canada region Purchase Dollar Volume (PDV) rose year-on-year (Y/Y) by 9.0% on a local currency basis in the first quarter (Q1/14) to US$27 billion. The average purchase ticket in MC Canada region has declined 9.5% Y/Y. One-year ago it stood at US$88.82, compared to US$85.11 in Q4/13 and US$80.36 in Q1/14, according to CardData. MC’ Cash Dollar Volume (CDV) was down sharply by 9.7% on a local currency basis in Q1/14 to US$2 billion. MC has 56 million cards-in-force (CIF) currently in the Canada region, compared to 50 million in Q1/13, about the same as Visa.

Loblaw & ADS Partner

Loblaw has signed a deal for customer-centric merchandising and marketing strategies with Dallas-based Alliance Data Systems. Loblaw Companies Limited is Canada’s food and pharmacy leader, the nation’s largest retailer, and the majority unitholder of Choice Properties Real Estate Investment Trust. LoyaltyOne is a global leader in the design and implementation of coalition loyalty programs, customer analytics and loyalty services for Fortune 1000 clients around the world. Alliance Data and its combined businesses is a leading global provider of data-driven marketing and loyalty solutions serving large, consumer-based industries.

BAMS Heads Into Canada

The payment card processing business continues to heat up as BAMS, the top U.S. payments processor, a joint venture between First Data and Bank of America, sets up operations in Canada. Based in Toronto, the new organization will provide a full suite of products and services – ranging from payments and commerce to security and…

Expertus renews CSAE 3416 and SSAE 16 type II certifications

Expertus cloud based payment services renewed its CSAE 3416 and SSAE 16 type II certifications. These internationally recognized audits ensures that Expertus’ controls related to financial, information and security adhere to accreditation requirements and industry best practices. Expertus understands the ever-increasing compliance burdens facing customers operating online. These accreditations reflect controls that are in place during the aforementioned period of time, and help to shift some of their financial reporting burden from customers to Expertus, allowing customers to use the certification report to satisfy their own auditors.

BofA Merchant Canadian Services

Bank of America Merchant Services, the No. 1-rated electronic payments processor in the United States1, announced today the creation of the company’s new Canadian merchant services operation. Based in Toronto, the organization will provide a full suite of products and services – ranging from payments and commerce to security and advice — to both existing domestic U.S. customers currently doing business in Canada, and new Canadian market customers. The new Canadian subsidiary already has relationships with all major Canadian credit and debit card processing networks.

hyperWALLET Announces Growth Equity Financing

hyperWALLET Systems cross-border corporate payment solutions completed a growth equity financing with Primus Capital. hyperWALLET technology platform and global financial network provides brand-enhancing B2C and P2P services for global corporations and financial institutions. Already the market leader for commission payment distribution, with customers including Forever Living, Scentsy and Monavie, the financing will immediately allow hyperWALLET to invest in expanded sales and marketing initiatives domestically and abroad, extend an industry-leading product set, address additional end markets, and build upon its existing infrastructure and licensure portfolio. hyperWALLET has opened an office in San Francisco to support the effort.

Canadian Mobile Deposits

Canadians have used their mobile phone to deposit more than 1,000,000 cheques since the Canadian Payments Association approved the cheque image rule last year to allow for mobile remote deposit capture (RDC), according to data from NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies.

Digital River Receives CardNotPresent Award

Digital River received a Customer Choice Award from CardNotPresent (CNP) for Best Subscription and Recurring Billing Program. The award was presented at the CNP Expo in Orlando on May 21, 2014. The awards honored the companies, programs and solutions that have distinguished themselves in the card-not-present space during the past year. The CNP Customer Choice Award winners are selected by customers for their experience and longstanding reputation in the card-not-present industry. Digital River World Payments features a wide range of customizable services for managing the complete payment lifecycle. These services, which work through a single payments connection, include checkout page optimization, A/B testing, real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as advanced back-office reconciliation services and business intelligence tools.

InComm Launch Reloadable Prepaid Card mPayments

InComm in conjunction with Peoples Trust launched a prepaid card to be used in the suretap wallet from Rogers that can be topped up with funds for mobile payments. Nearly 20% of all “face-to-face” MasterCard transactions are processed as a PayPass transaction.Mobile payments are all about convenience and speed. For the consumer, that means no cash or cards are required. The Rogers Prepaid MasterCard can be reloaded any time, at the consumer’s convenience, or via auto top-up. Paying for a purchase at a merchant location is faster than any physical card transaction and only requires tapping on a point-of-sale terminal. Up-to-date balance information is available immediately after each purchase. The card is issued through the suretap wallet and can be activated within minutes. The contactless mobile payments technology behind the prepaid card is based on global standards and proven NFC technology, which is fast, safe and secure.

Interac Announces Latest Flash Contcatless Payment Client

First West Credit Union signed Interac Flash to contactless, tap-and-go technology feature on its debit cards.Interac Flash is a new contactless enhancement of Interac Chip debit cards that enables cardholders to make everyday small value purchases faster by simply holding their card up to a supporting reader. First West will be rolling out Interac Flash and Instant Card Issuance, the ability to create personalized cards in branch for members, in a phased approach at two of its Envision Financial branches. Beginning in mid-June, a limited number of these cards will be available at the Willoughby branch in Langley and High Street branch in West Abbotsford. A greater roll-out is planned for Envision Financial members this fall and to Valley First and Enderby & District Financial members in 2015.

Interac Debit Fraud

Thanks to chip technology and fraud detection, debit card fraud losses in Canada reached a record low last year, declining 23% year-on-year (Y/Y) and sinking 79% (Y/Y) after peaking in 2006. Interac reported debit card losses climbed from $94.6 million in 2006 to a record high of $142.3 million in 2009 and then reversed course in 2010, declining to 2013’s record low of $29.5 million.