Paragon Application Systems, a leading, independent provider of ePayment testing solutions, announces that it has received Discover D-Payment Application (D-PAS) qualification for its FASTest host testing solution. QA and developers rely on Paragon FASTest for complete simulation and testing of over 114 financial message formats. Acquirers and issuers certifying their transaction processing with Discover and Diners Club can now choose FASTest for host certification.
WEX Inc. announced it has signed a multi-year extension to provide private label and universal fleet card services for Phillips 66. Through the agreement, WEX will continue to issue fleet cards and provide related payment services to Phillips 66-branded customers.
The number of Cards-In-Force (CIF) for the four major global payment card networks (excluding Visa Europe, CUP and JCB) rose 6.5% year-on-year (Y/Y) during the first quarter of 2014 (Q1/14). Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS) reported 3694 million global CIF at the end of Q1/14, compared to 3469 million one year ago.
MasterCard today announced enhancements to its industry leading security efforts, providing U.S. cardholders with greater protection from fraud and identity theft. All MasterCard credit, debit, prepaid and small business cards issued in the U.S. will now carry Identity Theft Resolution assistance. The program provides help in canceling missing cards and alerting credit reporting agencies, as well as targeting searches to detect if stolen personal and confidential data appears online.
TSYS announced that Walter Taylor as their chief procurement officer, responsible for procurement, vendor management and supplier management. Prior to joining TSYS, Taylor served as executive vice president, strategy, of Genesis10, where he was responsible for the firm’s overall strategy for information technology staffing and consulting with clients in the financial services industry. He also served as COO of Pariter Solutions, LLC, a Bank of America and Wells Fargo ACH payment processing joint venture, and senior vice president of Bank of America, responsible for technology and operations procurement and supply chain management. He’s a graduate of the University of Georgia and Mercer University and a Desert Storm veteran.
Chase earned the highest score in an evaluation of the five largest retail U.S. banks in Forrester Research’s 2014 report. Chase scored 69 out of 100 and tied with another bank for the top spot overall – earning #1 for the third straight year.
TSYS announced it has extended its exclusive agreement with Canadian Tire Financial Services to provide processing and other payment card program services. The multi-year extension includes Canadian Tire’s MasterCard-branded and private label retail portfolios. TSYS provides Canadian Tire with a number of additional services outside of traditional issuer processing and merchant acquiring, including fraud and risk management, portfolio analysis and a rewards and loyalty program. Canadian Tire has been a TSYS client since 1998.
Bluefin Payment Systems, and Parkmobile have announced a partnership to provide Bluefin’s PayConex point-to-point encryption (P2PE) solution to Parkmobile clients. PayConex™ P2PE is the first P2PE solution in the U.S. to receive Payment Card Industry (PCI) validation, and just one of three solutions in the world to receive this validation. PayConex P2PE encrypts cardholder data within the point of entry, thus preventing clear-text data from reaching the point-of-sale (POS) system, software or networks where it could be exposed in the event of a data breach.
Fidelity National Information Services announced the pricing of its sale of $300 million in aggregate principal amount of 1.450% Senior Notes due 2017 and $700 million in aggregate principal amount of 3.875% Senior Notes due 2024 (together, the “Notes”). The Notes will be guaranteed by certain of FIS’ subsidiaries. FIS intends to use the net proceeds from this offering to repay the entire outstanding principal amount of and accrued interest on its revolving credit facility, to repay up to $550 million of the outstanding principal amount of its Term Loan A-4 and for general corporate purposes. Any remaining proceeds will be used, together with additional borrowings under FIS’ revolving credit facility, to fund the purchase, through a call for redemption intended to be effective on or about July 15, 2014, of the entire $500 million aggregate principal amount of its 7.875% senior notes due 2020.
Allied Wallet online payment processing is now licensed to issue MasterCard and Maestro cards.MasterCard has strict regulations for any financial institution that seeks to issue payment cards. But upon review, Allied Wallet has been deemed a licensed issuer of MasterCard or Maestro cards, servicing various regions of Europe including the United Kingdom, Germany, France, and Spain. This issuing license will allow Allied Wallet to issue payment cards to its eWallet members, giving them the opportunity to spend the money saved in their eWallets at any storefront that accepts MasterCard or Maestro. Allied Wallet already supports over 100 million users. This issuing license is a large step for the company, but the rewards will benefit Allied Wallet users most. All users in supported regions will be eligible for MasterCard or Maestro card issuing.
The four major U.S. payment card networks produced an 8.2% year-on-year (Y/Y) gain in Purchase Dollar Volume (PDV) during the first quarter of 2014 (Q1/14). Visa (VS), MasterCard (MC), American Express (AX) and Discover (DS) produced $993 billion in U.S. PDV, compared to $918 billion in the year ago quarter.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Capitol Visa Infinite Card combines a private banking service with access to exclusive lifestyle benefits, privileges and experiences. Capitol Visa Infinite provides the cardholder with instant access to comprehensive insurance; airport lounges worldwide; exclusive cultural, sporting and fashion events; and the Visa events and experiences programme and Visa Luxury Hotel…