Texas-based ModoPayments has been issued a U.S. patent covering one time use virtual payment account numbers used for payment during merchant to consumer interactions, specifically during in-store purchase transactions.
An increasing number of U.S. issuers are bottom fishing for new cardholders with a secured credit card. The target market is not limited to the financially challenged but also includes prepaid card users.
SMB e-commerce solution provider GoECart has teamed with Kount, a supplier of fraud protection and sales-boosting technology, to enable GoECart retailers to seamlessly leverage Kount’s fraud prevention services at a discount and with zero integration hassles.
hrough Gemalto’s Allynis Trusted Services Hub customers get a one-stop and immediate access to the largest user base using NFC smartphones already equipped with Secure Elements. Over 1.5 billion mobile users worldwide are covered by Gemalto-contracted Trusted Services Management (TSM) platforms, with over a hundred million high-end “multi-tenant” SIM cards already in place to protect and manage sensitive application credentials. Ready today to handle a large number of future configurations, including Embedded Secure Elements (eSE) which are becoming available in some handsets and Trusted Execution Environment (TEE) that will be running inside next-generation mobile devices, as well as the emerging tokenization standards, the Allynis Trusted Services Hub offers both the broadest reach of users and the most future-proof technology across mobile platforms.
Evolve Money is now available as an added feature to Red Pocket Mobile customers through the company’s mobile site. Evolve Money is a free bill-payment app from PreCash.
hyperWALLET Systems has named payments industry expert Nadia Dombrowski as the company’s Chief Legal, Risk and Compliance Officer to oversee all legal, risk and compliance issues globally. The creation of this new executive role comes on the heels of massive growth at the payments company over the past 24 months. Since securing capital investment early in 2014, hyperWALLET continues to win new customers across various industries, verticals and global markets. As the new Chief Legal, Risk and Compliance Officer, Ms. Dombrowski will work closely with both the company’s senior executives and board members, continuing to position the company for continued growth.Dombrowski has also held the position of Senior Vice President, Group Head and Lead Region Counsel for the U.S. Markets at MasterCard Worldwide. She also served at MasterCard as Senior Vice President, Group Head for Emerging Payments and Advisors; as Vice President, Managing Counsel for Innovative Platforms and Advisors; and as Vice President, Senior Counsel for Advisors.
Consumer prepaid card retail spending rose 6% in August followed by credit card retail spending which rose 5.8% year-on-year (Y/Y). As expected check retail spending payments continue to dwindle in the face of cards and emerging payments options.
With the advent of Apple Pay consumer organizations are asking the Consumer Financial Protection Bureau (CFPB) to issue rules so consumers can use mobile financial services without placing their privacy at risk or exposing themselves to new forms of predatory lending and other unfair practices.
Fujitsu Frontech North America front-end solutions announced today that Biyo LLC (formerly PulseWallet), the innovative Point of Sale (POS) electronic transaction provider, entered into an agreement relating to Biyo’s Digital Wallet for retail POS electronic transactions. Digital Wallets are POS systems that store a shopper’s credit cards, reward cards, coupons and loyalty discounts for access and use during an electronic transaction performed at a retail store. The Biyo system uses Fujitsu PalmSecure® biometric technology to positively identify and authenticate retail customers and connect them to their stored information as part of the payment authorization process. PalmSecure technology relies on award-winning Fujitsu palm vein biometric technology. The Fujitsu family of biometric solutions, including PalmSecure® sensors, PalmSecure for SSO (single sign-on) and the PalmEntry™ Physical Access Control system, all utilize the award-winning technology.
CardWeb’s CardExecs database today features Connie Dudley, executive vice president of TSYS. TSYS supports financial institutions, businesses and governments in more than 80 countries.
Computer Services end-to-end technology solutions now supports tokenization capabilities for all CSI debit and credit issuers. Tokenization enables CSI customers to fully participate with all leading mobile wallet providers, including the recently announced Apple Pay™ service, by creating a digital payment token to replace the consumer’s personal account number (PAN). CSI customers also can provide their cardholders with enhanced security through the tokenization of the payment credentials. CSI’s fully integrated payment and mobile banking services empower financial institutions to deliver a secure mobile commerce experience to consumers. Additional mobile card services include CSI’s Card On/Off functionality, giving consumers greater control over their cards, and mobile remote deposit capture (RDC).
Visa has deposit $450 million into the litigation escrow account previously established under the Company’s retrospective responsibility plan (the “Plan”). Under the terms of the Plan, when the Company funds the litigation escrow account, the value of the Company’s Class B shares – which are held exclusively by U.S. financial institutions and their affiliates and successors – are subject to dilution through an adjustment to the conversion rate of the shares of class B common stock to shares of class A common stock.