Ingenico announced that its On-Guard application has been referenced as a validated Point-to-Point Encryption application by the PCI SSC. Whereas cardholder data protection is currently increasingly challenged, the On-Guard P2PE solution enables merchants to reduce their exposure to data breaches. It also restricts the scope of merchants’ PCI DSS certification to the payment terminal only, leading to drastic cost reductions in both security investment and certification expenses.The On-Guard P2PE solution is supported and certified across the complete range of Ingenico Smart Terminals, including mobile POS, and thus aligns with new security challenges and regulations for mobile devices.
ReD implemented its ReD Prism transaction monitoring and risk management solution for WEX corporate payment solutions. WEX first became a ReD customer in 2011, with a hosted version of the PRISM solution to underpin and enhance its extensive cards portfolio. WEX regularly updates its fraud protection resources as a critical component of helping businesses operate more efficiently, productively and with greater control over their operations. PRISM monitors over three million active accounts for WEX and has helped significantly reduce fraud losses since its implementation. PRISM has been regularly enhanced to ensure that it remains among the leading fraud prevention solutions for card issuers, acquirers and processors. The solution utilized by WEX includes a custom neural model, tailored to meet the specific needs of the fuel card sector.
Secure Trading and First Data announced a partnership to design an easy-to-use, general purpose reloadable prepaid offering combining the powerful compliance tools of their ST-1 solution and First Data’s PayLucky™ Solutions. They will deliver an offering compliant with New Jersey and Nevada regulations and enables players to deposit and withdraw money from their accounts with licensed online gambling operators. Since launching PayLucky™ Solutions for the legalized online and offline gambling and gaming industry, this is the first virtual prepaid card agreement that will bring simplicity and ease to operators and players. On completion of the ST-1 registration process that verifies new players’ identification and location, or when existing players seek to make deposits into their wagering accounts, they will be offered a fully integrated process to set up a PayLucky prepaid account, providing players access to instant funding.
Jack Henry & Associates announced the availability of jhaEnterprise Workflow™, the fully automated workflow solution that streamlines and standardizes financial institution-defined business processes involving multiple steps, individuals, groups, departments, and systems. jhaEnterprise Workflow supports virtually any process that can be performed with a series of consistent steps. It automatically routes assignments based on established credentials, permission levels, and staff availability while enforcing established approval processes. Automated workflow supports immediate updates to business processes which expedites the ability for financial institutions to respond to evolving regulatory requirements with the ability to immediately update impacted business processes. jhaEnterprise Workflow generates material operating efficiencies; reduces operating redundancies, costs, and risks; improves staff productivity; and reduces labor requirements.
Wirecard has been supporting the mobile phone brand BASE as it launches the mobile BASE Wallet with prepaid payment card on the market. The Walletcard is a digital Maestro card and when used with a mobile phone, this enables contactless payment via near field communication (NFC) at all MasterCard PayPass acceptance points worldwide. The payment card can be used immediately after registration via the BASE Wallet app, which also provides a real-time overview of all completed transactions and available credit. The top-up function is also conveniently integrated in the Wallet. Wirecard offers another MasterCard digital credit card for payment in online shops. The prepaid card is also available as a plastic card. This enables the use of POS terminals which are not yet equipped with NFC technology.
CardConnect payment processing announced the launch of the CardConnect Merchant Center, an online account for each of its 50,000 merchant customers to view and manage their transactions in real time. The CardConnect Merchant Center – available at no additional charge to all businesses that use CardConnect to process payments – mirrors what consumers receive through their online banking accounts. It offers reporting and reconciliation, transaction management, account alerts, scalability and flexibility.
Chase Sapphire Preferred travel rewards card and Bravo Media announce public ticket sales for the “Top Chef Duels” Premiere Tasting Event being held in New York City on Monday, August 4. Fans will be able to purchase a limited number of tickets for this exclusive event for $100 per ticket beginning Monday, July 14 at 2 p.m.ET through the City Harvest website at www.cityharvest.org/events/topchefduels. All proceeds from public ticket sales will benefit City Harvest, the world’s first food rescue organization dedicated to helping feed the more than two million New Yorkers facing hunger each year. The Premiere Tasting Event celebrates the series premiere of “Top Chef Duels” on Wednesday, August 6 at 10pm ET/PT on Bravo. As part of the presenting partnership, Chase Sapphire offers cardmembers VIP tickets to the event on the Ultimate RewardsSM website. The unique VIP experience includes early entrance, an exclusive screening of a clip of Episode One and a meet-and-greet with “Top Chef Duels” judges and contestants.
Chase bank credit card profits were down sharply in the second quarter due to a higher provision for credit losses, higher noninterest expense and lower net revenue. However, card purchase volume was up sharply by 12%, delinquency dropped 28 basis points and charge-offs declined 43 basis points. Card Services net revenue as a percentage of average loans was 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.
Visa has made a strategic investment in DocuSign to enable customers to prepare, execute and manage digital transactions and integrated payments safely and securely. DocuSign Global Standard for Digital Transaction Management™, automates manual, paper-based processes with the only open, independent, standards-based DTM platform for managing all aspects of documented business transactions. DocuSign helps companies Keep Business Digital™ with industry-leading identity management, authentication, eSignature, forms/data collection, collaboration, workflow automation, payment collection, and document retention. DocuSign accelerates transactions on a secure global network for sending, signing, tracking, and storing documents in the cloud.
Chuck Harris has been named senior executive vice president of TSYS and will continue to serve as president of NetSpend. Harris joined NetSpend as president in July, 2010, with responsibility for the partner, direct and corporate paycard lines of business, as well as the company’s products, technology and operations. Harris joined NetSpend from Intuit where he had served as general manager of the company’s payment solutions division. Prior to Intuit, he served as chief executive officer, president and chief operating officer of Electronic Clearing House (ECHO), an electronic payment solutions provider that was acquired by Intuit in 2007. Earlier in his career, Harris also served with Paymentech and its Merchant Link subsidiary.
First Data has attracted an industry leading team of partners that will collaborate to bring ease and convenience to the complex and growing legalized online and offline gambling and gaming market in the U.S. and abroad. PayLucky Solutions offer an innovative package of comprehensive payment services, all in one place and all from one source. Proven solutions include check, debit and credit processing with emphasis on protecting operators by qualifying players and guaranteeing player funds through third party validation and analysis on individual spending habits. The Global Interactive Gaming Summit and Expo (GiGse), First Data and its partners are poised to deliver the much-needed solutions to the gambling and gaming industry. First Data partnered CAMS (Central Account Management Systems), CrossPay Services, FEXCO, Global Cash Access, NRT Technology and Secure Trading Inc.
First Data Corporation today announced the commercial integration of its Perka™ Mobile Loyalty Solution. Its apps are now available through First Data distribution systems. Extending far beyond traditional couponing, newspaper and yellow page ads, or old-fashioned paper loyalty cards, Perka, the most recent offering from First Data Small Business Solutions, is a cloud-based customer loyalty solution that connects businesses to their customers using location-based apps and mobile phones. Acquired by First Data last October, Perka, now a wholly-owned subsidiary, was named one of 2013’s most innovative companies by Fast Company. It helps SMB owners maintain profitable and long-term relationships with their customers by providing a sustainable and highly personalized incentive program.