Veracity Payment Acquires Vanco Services

Veracity Payment announced its acquisition of Vanco Services electronic payment solutions to faith-based organizations, healthcare organizations, financial institutions, nonprofits, schools, municipalities and other entities.
As part of the acquisition, Veracity and Vanco will be rebranded as “Vanco Payment Solutions.” Vanco processes both credit card and ACH transactions on its robust payment platform. The platform not only supports Vanco’s own proprietary suite of online, mobile, in-person and batch payment solutions, it also provides the back office credit card, debit card and ACH processing for more than 60 different software companies via web services integrations. In addition, Vanco systems enable the end-to-end electronic transfer and posting of consumer bill payments initiated anywhere on the nation’s highly fragmented network of online banking sites – payments that would otherwise be sent by check and require manual intervention. The two organizations now serve a combined total of more than 38,000 clients nationwide and process more than $11 billion in electronic payments. They also collectively support over 200 client partners that include financial institutions, affinity and trade associations, professional services and independent software vendors/developers.

Vantiv to Acquire Mercury Payment Systems

Vantiv, Inc. announced an agreement to acquire Mercury Payment Systems, LLC for an aggregate price of $1.65 billion. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake, a global leader in technology investing.

Visa / MasterCard Debit Card PDV

Visa (VS) and MasterCard (MC) debit card activity edged up in the first quarter, as Gross Dollar Volume (GDV) on U.S.-issued debit cards increased 7.0% year-on-year (Y/Y), according to CardData. In the first quarter of 2014 (1Q/2014), VS’ U.S. debit card GDV was up 6.4% Y/Y to $408 billion, while MC’s U.S. debit card GDV increased 9.0% Y/Y in 1Q/2014 to $174 billion. MasterCard debit cards have been growing above 9% Y/Y for the past four quarters.

JUSP Teams with Nokia

JUSP announced it is teaming with Nokia as the first provider of a chip-and-pin mPOS solution to the Nokia Lumia smartphone. JUSP’s solution also works with Windows-based PCs as well as smartphones and tablets running Windows, iOS and Android making it an all-encompassing mPOS solution for both micro merchants and small- and medium-sized retail outlets. JUSP’s mPOS device and operating system flexibility, along with the chip-and-pin security and the all-inclusive pricing launched recently by JUSP, makes it extremely easy, convenient and secure for retailers of all sizes to charge customers using whatever means they choose.

Fiserv Helps Transition to EMV Standard

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fiserv is helping its clients transition to EMV cards with an integrated, compliant and cost effective path to EMV-enabled debit and credit card issuance. With this unsurpassed experience and expertise Fiserv can guide clients through every step of the migration process “from analyzing their payment card portfolios to optimizing penetration, activation…

Giesecke & Devrient Offers U.S. Debit EMV Solution

Giesecke & Devrient secure payment products and solutions developed and deployed an EMV solution that allows a debit card to meet Durbin Amendment requirements while supporting bank, merchant and consumer needs. As an active member of the Smart Card Alliance’s EMV Migration Forum (EMF), G&D was an integral force in these discussions. Following the EMF’s recommended solution and leveraging decades of experience in developing highly secure payment products, G&D’s EMV debit card products and services offer the most advanced payment deployment, providing extensive functionality to support all of the latest specifications from the major payment brands. A chip embedded in a card serves to provide a higher level of security when compared to present-day magnetic stripe only cards, protecting cardholder data and information stored on the chip. Unlike static magnetic stripe cards, chip cards contain an operating system and support dynamic authentication. Every transaction requires new values produced by the chip to be delivered. Utilizing chip card technology will be seamless to the customer, though they will now be able to execute EMV transactions using a debit card.

The Unemployment Rate Continues to Tumble

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Payroll employment was up 288,000 units in April for a substantial .4% drop in the unemployment rate from March, which now sits at an impressive 6.3%. This was led by employment in construction, manufacturing, wholesale trade, and mining fields. The number of unemployed persons sits at 9.8 million, down 733,000 and…

Chase Sapphire Announces Second Annual Preferred Grill Challenge

Chase Sapphire Preferred, in partnership with Bon Appétit hosted the second annual Chase Sapphire Preferred GrillChallenge, Thursday, May 8, during the eighth annual Vegas Uncork’d by Bon Appétit. The winning student, Brooke, received a $20,000 scholarship, and the runner-up, Kelly, was awarded $5,000 to fund their culinary educations, courtesy of Chase Sapphire Preferred. As a presenting sponsor of Vegas Uncork’d by Bon Appétit, Chase Sapphire Preferred offered cardholders the ability to redeem credit card rewards points or purchase tickets to select Vegas Uncork’d events – and enjoy exclusive perks, such as a VIP lounge at the Grand Tasting featuring bites from Nobu Matsuhisa, a private brunch featuring cuisine prepared by executive chef Julian Serrano of Picasso at Bellagio and exclusive meet-and-greets with chef François Payard.

Oink Partners with Gorilla Group

Virtual Piggy, Inc., provider of Oink, the award-winning payment technology for families and teens, today announced that it has partnered with commerce solutions provider Gorilla Group. Oink is the only payment technology designed to allow retailers and game publishers to reach under 21 consumers in a safe, legal and effective manner compliant with the FTC and other international regulations. This innovative technology serves as a digital family wallet that is available online or via mobile and allows safe, secure transactions – all within parental controls.