Virtual Piggy offers Enhanced Fraud Control

Virtual Piggy has enhanced the fraud-detection and control features in its family payment system with comprehensive screening performed by a combination of internal checks and an integration with Kount, a leader in fraud management technology for ecommerce. Virtual Piggy joins Kount’s integrated partners alongside companies such as Chase Paymentech, LexisNexis, and Magento.

CARDFREE mCommerce Announces Latest Platform Customer

CARDFREE mobile commerce announced Checkers/Rally’s will leverage its full commerce platform to provide consumers with a complete mobile experience and will be the first QSR to use mobile to lead key consumer initiatives such as CRM, loyalty and stored value. The CARDFREE merchant commerce platform will enable Checkers/Rally’s to tie all programs together with mobile acting as a common thread. The platform gives merchants a comprehensive view of their customers that traditional programs have been unable to do. By leveraging the data tied to a user’s master account, CARDFREE gives merchants the ability to engage customers based on individual behaviors and preferences. CARDFREE also provides a digital stored value solution that’s optimized for mobile.

Discover Recognized for Cash Rewards Technology

Discover has been recognized as one of the country’s top technology innovators by InformationWeek for delivering convenience and choice to customers through flexible options to redeem cash rewards while shopping online. Discover ranked 77 on the 2013 InformationWeek 500 list, which is presented annually and honors leading companies for using innovative technologies to transform how their organizations do business. Discover’s new platform enables Discover customers to simply use some, none, or all of their Discover Cashback Bonus or Miles Rewards to pay for their purchases online at select merchants’ websites.

Heartland and Tabbedout Announce mPayment Partnership

Heartland Payment Systems and Tabbedout mobile payment app announced a strategic partnership to deliver an integrated mobile payment solution designed specifically for restaurant and bar operators. Heartland and Tabbedout have a shared goal of supporting an open merchant and consumer platform that starts with payments and provides an infrastructure for merchants and brands, such as beverage brands and payment sources, to engage with consumers. By aggregating customer data, including profile information, purchase history and feedback, this solution enables operators and brands to offer targeted rewards and incentives to influence purchasing decisions, increase loyalty and attract new customers, all within the venues’ existing infrastructure. Tabbedout will continue to work with other payments and related companies to enable operators to work with the providers of their choice.

MasterCard Shows Consumer Spending Waning

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The latest MasterCard SpendingPulse report on September, indicating retail sales continued to weaken, peaking at only 4.7% in June of this year. September retail sales were up only 3 percent year-over-year, which was attributed to a significant drop-off in gasoline spending and no major growth in other sectors. With SpendingPulse consumer…

Former PayPal Exec Move On

Intelligent Environments announced the appointment of former PayPal executive, Deborah Davis, to the role of non-executive director to provide strategic oversight and help drive an increasing number of major partnerships. Bringing more than 25 years of technology experience with 14 years in vice president roles at PayPal, eBay, Verizon Business and Symantec, Deborah will provide strategic direction and operational insight to drive forward Intelligent Environment’s aggressive international expansion plans, helping determine the strategic road map and new market entry for 2014 and beyond. She ran PayPal’s internal global credit and fraud risk teams out of 6 locations covering merchants and consumers in all of PayPal’s markets.

Chase Paymentech Announces Page Encryption Solution

Chase Paymentech Announced its Safetech Page Encryption, helping merchants provide a safe and optimal shopping experience for their customers. Chase Paymentech is the first acquirer to offer this type of data-protection technology. Safetech Page Encryption encrypts payment data the moment a consumer enters her or his payment information into a web browser. The payment remains encrypted until it reaches Chase Paymentech, which processes the transaction. After authorization is obtained from the payment networks, Chase Paymentech employs Safetech Tokenization, a stand-alone solution included with Safetech Page Encryption, to replace customer payment data with a benign, secure value that cannot be converted back to payment or account information within a merchant’s network. Tokenized values are returned to the merchant to use for internal processes such as settling transactions. Should a merchant’s network become compromised, the cardholder’s data remains tokenized and not accessible to the threat. Thus, the risk associated with storing cardholder data is reduced. Plus, Safetech Page Encryption may lessen the costs for meeting and monitoring Payment Card Industry (PCI) compliance since the burden of managing cardholder data and encryption is removed.

FIDO Alliance Announces MasterCard Membership

The FIDO (Fast IDentity Online) Alliance announced MasterCard has joined and been appointed to the Board of Directors. FIDO members commit to share technology and collaborate to deliver open specifications for universal strong authentication that enables FIDO-compliant authentication methods to be interoperable, more secure and private, and easier to use.Open FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint and iris scanners, voice and facial recognition, as well as existing solutions and communications standards, such as Trusted Platform Modules, USB Security Tokens, Smart Cards and NFC. The open specifications are being designed to be extensible and to accommodate future innovation, as well as protect existing investments.

Citi Expands WorldLink Payment Services

Citi Treasury and Trade Solutions (TTS) has significantly enhanced WorldLink Payment Services’ cross-currency payment capabilities. It offers an expanded ACH offering and an increase of global access to 140 currencies to further enable and support the evolving needs of global clients while Citi expanded its WorldLink low value cross border offering. Making local currency payments into rapidly developing economies is a key requirement for expanding companies. So that clients can benefit from faster settlement times and more efficient execution, WorldLink has increased the ease of making payments into Malaysia, Haiti and Bermuda.

Mobeam Exec Debuts on CNBC, Discusses New App

Ben duPont, Mobeam’s lead investor, member of the board of directors and founder of yet2Ventures, appeared on CNBC’s Mad Money with Jim Cramer to discuss Mobeam and its Beep’nGo application will shake up the mobile wallet space. duPont demonstrated how Mobeam’s Beep’nGo app, one of Dr. Oz’s favorite apps, lets consumers easily keep all of their loyalty, gift and membership cards right on their smartphone and “beam” them straight to the scanners already in millions of stores. Mobeam, a light-based patented technology that enables smartphones to be read by everyday barcode scanners at point-of-sale, is transforming mobile commerce. In the gift card space alone, more than $41 billion in gift cards have not been used since 2005. Beep’nGo is exclusively available on the Samsung Galaxy S4 and the Samsung Galaxy Note 3.

clearXchange Announces Latest Network Member

clearXchange P2P payments network in the U.S. created by and for financial institutions announced its latest member, FirstBank. FirstBank customers will now be able to send payments from their existing FirstBank account safely and conveniently using only the recipient’s mobile number or e-mail address and without providing sensitive account information. With FirstBank, clearXchange continues its network expansion and drive to ubiquity, delivering value to customers of banks of any sizes. Nationwide, clearXchange banks represent more than 50 percent of the consumer online banking market. The clearXchange solution allows P2P payments directly from consumers’ existing deposit accounts through their bank’s convenient, secure online and mobile sites. There is no need to open a new account or conduct financial transactions away from their bank’s trusted site. When getting paid, funds are directly deposited into the consumer’s bank account. And customers get all the services and protections that they get today from their banks.

Chase Sapphire Announces Exclusive Rewards Package

Chase Sapphire cardholders can purchase or redeem Ultimate Rewards points for limited-edition Sundance Film Festival packages. As a Presenting Sponsor of the Sundance Film Festival for the fourth year in a row, Chase Sapphire Preferred is the only rewards credit card to offer such preferential rewards packages for cardholders at the Festival.Chase Sapphire released Opening Weekend Packages October 9, followed by Closing Weekend Packages October 10.