The Board of Directors of VeriFone Systems announced that it has appointed Paul Galant Chief Executive Officer and Member of the Board of Directors. Galant served as the CEO of Citigroup Inc.’s Enterprise Payments business since 2010. Galant developed innovative digital payments services for Citi’s institutional and government clients, enabling them to expand into growth markets and helping them to meet their consumers’ current and future needs for secure mobile payments and commerce. Before that, from 2009, Galant served as CEO of Citi Cards, heading Citigroup’s North American and International Consumer Credit Cards business during a period of dramatic change in the industry and positioned it for growth. From 2007, he was CEO of Citi Transaction Services, establishing the business as a core growth engine for Citi and expanding it into new product lines and markets serving Citi’s largest institutional and government clients.
This week, at the RDC Summit in Orlando, Florida, Panini will feature mI:Deal™, the latest breakthrough solution from their continuous innovation portfolio. The mobility enabled Panini mI:Deal™ provides financial institutions and merchants with a simple, efficient and cost-effective solution for capturing checks in a wide variety of deployment environments, including RDC and POS. The Panini mI:Deal™ architecture combines innovation and ease-of-use with “plug & play” connectivity to maximize functionality and ROI. On-board intelligence that provides internal processing power for PC independent compression of MICR codeline and captured images allows for fast and easy integration with existing capture solutions. Wired and wireless connectivity options provide complete mobility without compromising Check 21 compliance or security.
Mako Networks and AirTight Networks announced a reciprocal agreement to bundle Mako’s network management system and AirTight’s Wi-Fi technology from the PCI SSC North American Community Meeting. The joint solution offers sophisticated yet easy-to-use cloud management ideal for distributed enterprises, coupled with powerful Wi-Fi retail analytics and end-to-end PCI DSS compliance. A Mako network appliance connects the site to the Internet using a broadband connection. As the conduit for all Internet traffic, the Mako System is able to collect information about network usage at the site, which is populated into a Central Management System (CMS) that can be accessed by administrators from a simple web interface, with detailed reporting on the network activity across their distributed enterprise locations. Retailers can integrate social media channels with AirTight’s customisable guest Wi-Fi portals to engage with in-store customers, encourage them to opt into marketing programs and reach out to them via geo-marketing campaigns, such as coupons or special offers. Built-in Wi-Fi analytics deliver insights into customer behavior and trends.
MoneyGram announced five year renewal of its agreement with Susquehanna Bancshares, a Pennsylvania-based commercial bank, to provide official check services through its PrimeLink Official Check program. MoneyGram’s PrimeLink Official Check outsourcing program provides banks with cost efficiencies through management of its clients’ official checks, including daily balancing and reconciliation, exception handling, inventory management, and real-time updates on official check transactions. MoneyGram provides a high level of service and responsiveness to bank personnel in support of their programs and helps prevent fraud losses by identifying fraudulent official checks.
PowerPay is launching “10 Days of Giving” (www.10daysofgiving.com) – a celebration that reflects the company’s corporate culture and commitment to giving, sustainability and community. During the first 10 days of October, PowerPay employees are volunteering time during their workdays and making donations of food and clothing to a variety of local nonprofits. A different activity is scheduled each day from Oct. 1 through Oct. 10. Beneficiaries include Goodwill, the American Red Cross, Portland Public Library, Preble Street, the Good Shepherd Food Bank, Portland Trails and Big Brothers Big Sisters of Greater Portland. PowerPay’s culture has roots in connecting with and giving back to the community. Sustainability and philanthropic practices are a large part of daily operations. The company also has an active Giving Committee, an independent task force of employees whose activities support social responsibility.
Fico partnered Big Data startup ERN, which will embed FICO’s marketing solutions within its real-time Big Data analytics platform Looop, giving marketers in financial services and retail the ability to execute highly personalized merchant-funded marketing strategies based on precise analysis of each consumer’s preferences and needs. The partnership is initially focused on the financial services market in the UK, Europe and Asia. Looop is a scalable, reliable and secure Big Data analytics platform that enables banks, acquirers and merchants to perform deep analysis of customer behavior on a micro and macro scale. The actionable insights that result can be used to create compelling relevant and timely offers that can be sent to customers through a mobile app in real-time. Looop is fully PCI and ISO 27001 compliant.
Digital Insight technology solutions to financial institutions announced John O’Malley CEO, an experienced financial services and technology veteran who brings over 30 years of knowledge. O’Malley joins Digital Insight with prior experience as the CEO of Panini, a provider of payment technology. Prior to that he was the CEO of Memento, which was acquired by FIS, and President and CEO of Harland Financial Solutions where he led its growth from a small subsidiary to one of the leading providers of financial technology in North America. He has also held senior positions with Fiserv, Hogan Systems (now part of Computer Sciences Corp) and the J.H. Harland Company (now part of MacAndrews and Forbes). O’Malley also brings strong experience and innovation to both traditional and alternative payment solutions. He has extensive knowledge in global finance, enterprise sales and fulfillment solutions, enterprise big data, fraud and risk management.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor fell 1.4 points to 91.0 in July, in response to a decline in confidence in the economy from consumers- especially those making less than $40,000. Consumers also grew more pessimistic toward their personal finances last month, which correlated with a decline in discretionary spending intentions. Respondents…
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Basware e-invoicing and purchase-to-pay solutions has partnered with MasterCard, one of the world’s largest payment networks, to launch a revolutionary electronic payment solution that ensures suppliers are paid fast upon invoice approval, while extending payment terms for buyers. Companies worldwide are looking to new ways to grasp the benefits that electronic…
CU Wallet credit union announced during the CUNA Technology Council that it is launching a credit union-centric mobile wallet application. At the time of the launch, 15 credit unions, ranging from $400 million to more than $5 billion in assets, and representing more than 2 million members nationwide, have signed agreements with CU Wallet. CU Wallet’s mobile payments platform is designed by credit unions, for credit unions to meet the needs of an increasingly mobile membership base, attract a new generation of members and generate new, sustainable revenue streams.
Grant Victor, the foremost retail-style ATM service and solutions provider in North America, announced a partnership with AppCard customer loyalty solutions to provide the industry’s first integrated ATM loyalty program for retailers, merchants, and ATM operators. The partnership and integration will be showcased at the upcoming National Association of Convenience Stores conference held October 13th – 15th in Atlanta, GA.
Equifax expands risk-based authentication capabilities within the Identity and Fraud product suite. Trends show that businesses want to improve the end user experience and reduce intrusive authentication methods while still maintaining security for online transactions and reducing fraud. A risk-based strategy that can segment safer transactions from riskier ones allows businesses a flexible way to balance risk, consumer friction, and cost. Our risk-based technology includes pattern and velocity detection, device recognition and risk score, and financial account validation, among other criteria. These risk factors combine within automated transactional decisioning to give business a workflow that challenges users with the most appropriate authentication based on the risk presented by the person, their location, and the task.