[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up a staggering 8.25% in May to an adjusted $857B, it erased all positive momentum seen in 2013, springing to the highest outstanding total of the year. Although quite the change compared to recent monthly figures, May revolving credit outstanding is still not…
Allied Payment Network online bill payment services and Malauzai Software mobile banking SmartApps announced Picture Pay is now available to any financial institution as a stand-alone mobile bill payment solution, even those that use a different mobile banking provider. Picture Pay can now be implemented by any bank or credit union as a separate mobile application. The stand-alone Picture Pay solution is compatible with any core banking system or mobile platform and no technology integrations are required. The app allows users to complete a payment by take a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution.
Responding to increasing demand for mobile payments, e-security expert Cryptomathic has upgraded its EMV flagship issuing solution, CardInk, to enable customers to issue payment applications to smartphones and other mobile devices. The upgrade sees CardInk supporting MasterCard Mobile PayPass™ and Visa Mobile requirements. The ability to use a mobile device to make a near-field-communication (NFC) payment at the point-of-sale (POS) or to transfer funds remotely is gaining widespread popularity across the globe. The extended functionality of CardInk, Cryptomathic’s EMV data preparation solution, allows users to generate the personalisation data for mobile wallet credentials and to securely issue NFC payment applications to smartphones, using the same systems as when issuing physical payment cards.
PayAnywhere mobile POS was selected by Goodsmiths to power mobile payment capabilities for Goodsmiths’ popular Swipe mobile app. The PayAnywhere API offers an easy way for mobile app developers to add mobile payment capabilities to their new or existing mobile apps. The Goodsmiths Swipe app empowers shop owners to take their online shops to market. Swipe is the only app that syncs shop owners’ handmade shops with their mobile device. With Swipe, shop owners can easily track sales and inventory from their Goodsmiths shop at shows and markets, accept mobile credit and debit card payments on the go, enter deal prices and add new items on the fly, and benefit from advanced business intelligence based on detailed, real-time sales reports. Additional Swipe features include secure encrypted transactions, no transaction fees for the first 30 days and a low 2.69% transaction fee after that for all swiped cards (Visa, MasterCard, Discover, and American Express), no Goodsmiths transaction fees, the ability to enter cash purchases, and 24/7 customer support.
Fime has enhanced its SAVVI test tool to enable Visa terminal integration test results to be automated into a format which, for the first time, can be submitted directly online to Visa. This new functionality, which has been tested and endorsed by Elavon, a leader in payment processes, will speed up the testing process for acquirers as well as eliminate human error when inputting and filing results manually. Secure-chip testing provider, FIME has advanced its terminal integration test tool, SAVVI, to facilitate the direct upload and online submission of automated results generated for the Visa Acquirer Device Validation Toolkit (ADVT). Visa’s online system – the Visa Chip Compliance Reporting Tool (CCRT) – has previously required all test results to be manually inputted and submitted.
Square announced the public availability of Square Stand, Square’s beautiful hardware that helps brick and mortar businesses turn an iPad into a complete point of sale. Square Stand”and third party accessories, like a cash drawer, receipt printer, and barcode scanner”is now available online via squareup.com/stand, with purchases shipping this week to customers who placed pre-orders. Starting today, customers will also now be able to purchase Square Stand in Apple retail stores and Best Buy stores across the U.S. With local businesses increasingly tearing out their old point of sale systems to run Square Register, the free point of sale application, Square Stand gives merchants a beautiful, secure, and reliable way to manage and grow their business, all for $299.
Accenture launched its Accelerated R&D Services, a business service focused on delivering streamlined and integrated research and development (R&D) functions that will help pharmaceutical companies bring new medications to patients using a more collaborative and efficient approach. Accenture is investing more than $200 million to deliver this fully-integrated, technology-enabled global business service that will drive more efficient and effective development of pharmaceutical products for clients. Accelerated R&D Services will leverage capabilities of the cloud, mobility and analytics to deliver integrated functions across clinical development, regulatory submissions, pharmacovigilance and market launch predicated on delivering better patient outcomes. Accelerated R&D Services helps life sciences companies bring drugs to market faster, at less cost and with reduced execution risks using a pay-for-performance business model for business process outsourcing.
Virtual Piggy integrated its youth-friendly payment system with Claire’s Stores, Inc. ecommerce website at www.claires.com. With over 1,500 stores in approximately 90% of all major U.S. shopping malls and in 35 countries outside of the U.S. Claire’s is a world-leading retailer of jewelry and accessories for young women, teens, tweens and girls. Virtual Piggy promotes financial management while empowering youth under 18 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents.
Tsys successfully achieved Europay/MasterCard/Visa (EMV) payment processing certification. This certification signifies that all TSYS processing platforms have achieved the card brands’ mandated requirement that acquirer processors be able to process EMV chip-based contact, contactless and mobile transactions. TSYS passed extensive test parameters on its payment processing platforms for each card brand. EMV provides another layer of protection against the use of counterfeit, lost, or stolen payment cards and also against skimming. Issuers, merchants, and consumers as well as acquirers/processors all benefit from EMV.
Allied Wallet online credit card processing, multi-currency merchant services, state-of-the-art payment processing, digital eWallet solutions, software development, and a PCI Level 1 payment gateway, has recently been deemed a Principal Member of MasterCard. Now an official member of MasterCard as an acquirer, Allied Wallet has been given its own MasterCard BIN, Bank Identification Number and can now assign MIDs, Merchant Identification Numbers, to merchants at even lower discount rates. Merchant and customer transactions will all be monitored and protected under Allied Wallet’s in-house, PCI Level 1 Security.
The Commerce Trust Company, in conjunction with Commerce Bank, is offering its clients greater flexibility and security for their purchases at international locations by adding the new World Elite MasterCard® product to its private banking card portfolio. The chip-enabled World Elite MasterCard offers private banking clients improved ease of use when travelling internationally, no foreign transaction fees, and enhanced reward options. The World Elite MasterCard has no preset spending limit and provides cardholders with airport lounge club membership, one-day card replacement delivery to U.S. and global destinations* for lost or stolen cards, and a dedicated 24/7 customer service line and enhanced servicing.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data payment processing released its SpendTrend analysis for June, compared to June 2012. Tracking same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, SpendTrend found year-over-year dollar volume growth was 7.1% in June, compared to May’s 6.0% growth. Despite falling…