Millions of smart cards are in use today in Latin America and the Caribbean in EMV chip cards, mobile payments, e-passports, smart transit fare cards, secure government, healthcare, enterprise IDs and more. Now the Smart Card Alliance Latin America group has signed a big deal with Florida State University.
Heartland Payment Systems reports record small and mid-sized enterprise second quarter transaction processing volume of $20.4 billion, up 5.6% Y/Y. Same store sales also rose 2.4% and volume attrition was 12.6% in this year’s second quarter.
Gemalto has signed a definitive agreement to acquire 100% of the share capital of SafeNet from Vector Capital for US$890 million on a debt free/cash free basis.SafeNet technology protects over 80% of world’s intra-bank fund transfers and its 1,500+ employees, including 550 cryptographic engineers, serve more than 25,000 customers, both corporations and government agencies, in over 100 countries. In 2013, SafeNet recorded revenues of US$337 million and profit from operations of US$35 million and expects revenues of US$370 million and profit from operations of US$51 million for 2014. The purchase price of US$890 million is self-funded with US$440 million from available cash, and US$450 million drawn from existing long-term credit facilities. The closing of the transaction is expected to occur in Q4 2014, after approval from the relevant regulatory and antitrust authorities.
MasterCard led the four networks in year-on-year gains in market share for cards-in-force for the U.S. in the second quarter, gaining 60 basis points, while Visa declined 40 basis points; American Express remained flat; and Discover declined 20 basis points.
NCR’s second quarter growth driven by strong growth in Financial Services, Hospitality and Emerging Industries. For the third quarter NCR expects non-pension operating income (NPOI) to be in the range of $215 million to $225 million.
Visa is helping U.S. fuel retailers prevent credit and debit card fraud at the pump with intelligent analytics that identify higher-risk transactions that may be fraudulent. While global fraud rates across the Visa payment system remain near historic lows, fuel pumps can be targets for criminals because they are often self-service terminals. The Visa Transaction Advisor (VTA) lets merchants use real-time authorization risk scores to identify transactions that could involve lost, stolen or counterfeit cards. Visa analyzes multiple data sets such as past transactions, whether the account has been involved in a data compromise, and nearly 500 other pieces of data to create a risk score. This allows merchants to identify those transactions with a higher risk of fraud and perform further cardholder authentication before gas is pumped.
Barclays, U.S. Bank, Wells Fargo, Fiserv, and PayPal are experimenting to demonstrate that wearables such as Google Glass and smartwatches can deliver financial alerts, pay for goods and services, and give consumers greater digital control over their finances.
Consumers have become increasingly comfortable using their smartphones for bill payments and other financial transactions, and experts predict that mobile devices are well on their way to becoming a primary tool for managing banking relationships. What the future landscape of mobile payments will look like, however, remains unclear – particularly in the area of mobile payments to merchants and retailers.
A new app allows Minnesota Twins employees to scan an applicant’s driver’s license to fill in much of what’s needed to apply for the Minnesota Twins Rewards MasterCard, which is issued by U.S. Bank. The new app is powered by Mitek.
The FTC says the I Works credit card processing deception took in more than $26 million in illegal credit and debit card payments through the Visa and MasterCard payment networks. Three of the defendants have agreed to settle the FTC’s charges.
Bindo retail technology announced the launch of a mobile EMV credit card reader for its cloud-based iPad POS. The EMV reader has full end-to-end encryption with its iPad POS system and is both EMV Level 1 and Level 2 certified. It slots comfortably into the audiojack of an iPhone or an iPad, and allows mobile credit card payment acceptance. Bindo’s system encrypts and tokenizes cardholder data at the point of capture and its Tamper-Safe security module (TSSM) helps prevent third party brute force attacks. The card reader will continue to support dual and triple track card reading. Others in the industry have announced EMV chip readers. Unlike competitors, however, Bindo’s mobile card reader will be able to process both chip-and-signature cards and chip-and-pin cards, enabling EMV debit card transactions, reducing the need for merchants to carry multiple terminals.
Transaction processing specialist Ecentric Payment Systems is boosting the performance and security of transactions by implementing hardware encryption devices supplied by Stanchion Payment Systems.The Futurex devices are unseen to the general public, yet perform an essential function every time a credit, debit or other card is used: they make sure the information exchanged between point of sale, bank and customer account is completely secure. Ecentric Payment Systems is a transaction processing business which processes all card transactions and other payments.