USAA and Navy Federal Credit Union are delivering industry leading digital banking offerings and earning customer-satisfaction scores for digital that rival those of traditional banks and credit unions. However, a new report says Bank of America took the prize for “2014 Best Overall Digital Banking Experience Leader.”
The National Bank of Abu Dhabi has implemented NCR SelfServ 91, a new hardware platform that will help NBAD transform its branches and extend its retail banking footprint. As the latest in branch banking technology from NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, NCR SelfServ 91 is a modern, sleek, in-branch ATM that can help migrate low-value transactions from the teller line to self-service, freeing branch staff to focus on sales and customer support. When paired with next-generation NCR Interactive Banker software, SelfServ 91 can complete as much as 90 percent of typical teller transactions and connect in-branch employees to server-based software that delivers fast, real-time customer and transaction data to tablet PCs.
Virtual Piggy commented on its recent business progress, in particular, its Oink digital wallet and its growth to the 1 million-system user mark. The company subsequently plans to increase the size of this base both in the US and internationally across Europe, and to increase engagement levels with the Oink service. The Company is anticipating significant new partnerships, product launches and marketing campaigns to occur throughout August, September and October. Virtual Piggy prides itself on the security, consent and payer identity functionality within the Oink service for efficient ‘family’ purchasing.
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.
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.