NCR System Integrity Protects Customer Data and Store Systems

Retailers with data security problems face regulatory penalties, negative publicity, customer wrath and lost revenue, which NCR is addressing with its “System Integrity for Retail.” Through an agreement with McAfee, NCR System Integrity for Retail protects an entire store from the point-of-sale to back-office systems. The NCR “System Integrity” stops unapproved POS software or systems changes, reducing the risk of inadvertent or malicious installation of viruses or malware, reducing the risk of costly system shut-downs, exposure to data loss and costly regulatory fines and penalties.

UBPS Acquires JetPay Real Time Processor

Universal Business Payment Solutions Acquisition Corporation completed its acquisitions of the JetPay card processor and the A D Computer Corporation companies. A D Computer has its own innovative technology platform, designed with optimum flexibility to accommodate payrolls of all sizes – from small family businesses to large corporations with 10,000 or more employees. JetPay offers real time credit card and ACH processing and is a merchant account provider that process all front end authorizations as well as all back end clearing and settlement functions in-house from end-to-end for both card-present as well as card-not-present transactions. It expects to process more than $30 billion in sales volume with over 150 million transactions for merchants as well as independent sales organizations.

2012 Card Industry Revenue – A Continuing Downtick

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] During the past several years card issuers have dealt with new regulations which curtailed their business models, impacting their interest and fee income strategies. As a result, in 2012 top line revenue for the card industry in the R.K. Hammer card issuer model was reported at $149.6 Billion, down $5.3 Billion…

Fiserv Partners TOPS Software on Payment Processing

Fiserv financial services technology solutions has established a partner relationship with TOPS Software property management software products and services, to make payment processing faster and more efficient for property managers. Fiserv clients who use the RemitStream Exception Handling property management solution and also use TOPS Condo/HOA management software are now able to automatically resolve exceptions during payment processing through integration of homeowner data between the two solutions. Fiserv worked with TOPS to create a specialized file that is in a specific format for loading into the Fiserv processing system without any further manipulation.

America FCU Deploys Cardlytics Marketing Platform

Cardlytics Transaction-Driven Marketing platform has been deployed by America First Credit Union for targeted member rewards. America First Credit Union implemented the platform through an ongoing partnership between Cardlytics and Fiserv. Selecting offers, account holders can activate or “accept” rewards before redeeming them at a number of national, local and online retailers. There are no coupons or promotion codes required and no member data ever leaves the credit union’s secure environment.Members can easily opt-out of the rewards offers, but activation rates prove broad consumer acceptance of Cardlytics’ programs.

GE Capital Retail Bank Inks La-Z-Boy Card Program

GE Capital Retail Bank and La-Z-Boy inked a five-year extension of their relationship to provide consumer credit card services through many of the home furnishings retailer’s 781 U.S. retail locations. GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will continue to service the account and manage the La-Z-Boy relationship. Customers can apply online or use in-store application kiosks for secure processing and fast credit decisions. GE Capital has helped major retailers and more than 200,000 small- and mid-sized businesses throughout the United States build consumer financing programs that support business growth and customer satisfaction.

Payza Launches International Online Remittance

Payza online payment platform launched its “SimplySend” service to facilitate money transfers from the U.S. to Bangladesh, allowing members to send money to friends and family, regardless of whether or not they have a Payza account. Payza is now licensed by the country’s central bank, Bangladesh Bank and facilitates transfers with a flat fee of $5 for remittances up to $500, and those over $500 cost a flat $10. Payza members can send a remittance to anyone in Bangladesh by completing a simple online form directly from their Payza account.

Signifyd Raises $2mm for Frictionless Payment Validation

Signifyd fraud prevention raised $2 million in financing from Andreessen Horowitz, Data Collective, IA Ventures, QED Investors, Resolute.VC, Tekton Ventures and other angel investors. Signifyd was founded in 2011 by a team of risk experts from PayPal to address the complexity of payment validation. Between chargebacks, mistakenly declined orders, and countermeasure costs, the average e-commerce retailer loses 3.1% to fraud every year. Most large e-commerce merchants have teams of agents that arduously try to bridge the gap between the online identity a user presents and the real-life person he claims to be.

PayPlum Solution Achieves PCI DSS Compliance

PayPlum Enterprise PCI has achieved validation and listing of the PCI PA-DSS Version 2.0 specification. Implementing PayPlum’s PA-DSS 2.0 compliant software before the October 2013 deadline, allows merchants and software companies to reduce PCI-DSS validation complexity, time and cost for deploying new ‘card-not-present’ payment applications, while ensuring that their software is more secure. The updated PA-DSS 2.0 standard is in effect for new payment applications until October 28th, 2016. PayPlum Enterprise PCI software is available for deployment in two different configurations. Merchants can choose to install PayPlum software in their own, secure data center within a smaller footprint, limited access, and vastly reduce PCI scope install it in a ‘ready-to-deploy’ private PCI compliant managed cloud environment.

Western Union Touts New Options for International Travel

Western Union announced their prepaid card just for travelers and an option for travelers to send a Western Union Money Transfer® transaction to themselves. This development will address the market segment relying on cash while traveling, and those who prefer to use a payment card. Western Union now gives travelers the option to send a money transfer to themselves prior to leaving for a trip. For transfers to most countries, the foreign-exchange rate is determined when the funds are sent, so travelers know exactly how much will be waiting for them in cash when they arrive at their destination. For travelers who prefer the convenience of card payments, the general-purpose reloadable (GPR) Western Union TravelWiseTM Prepaid MasterCard is a convenient and fee-friendly alternative to carrying large amounts of cash.

First Data & Webster Bank Extend Services Agreement

First Data electronic commerce and payment processing and Webster Bank, N.A., a wholly-owned subsidiary of Webster Financial announced a new long-term deal extending their merchant services partnership. First Data will continue to provide merchant processing services to Webster’s customers at its 167 banking offices throughout the northeastern United States, allowing Webster clients to gain access to First Data’s full range of point-of-sale payment solutions.

Moneris Integrates Payments Gateway With New Partner

Moneris Solutions payment processors announced a strategic partnership with Henry Schein MicroMD practice management and electronic medical records management software. For this, Moneris will integrate its proprietary eSelectPlus payments gateway with encrypted card reader functionality into the upcoming new release of Henry Schein MicroMD’s Practice Management (PM) software, enabling Henry Schein MicroMD customers to process patient credit and debit card payments directly through their MicroMD PM software. By eliminating the need for a traditional credit card terminal or stand-alone payment system, the new integrated solution will substantially reduce payment processing and equipment costs; the integrated card reader, which encrypts cardholder data before it reaches the Henry Schein MicroMD PM, helps protect patient account information and keep practices within the scope of PCI-DSS compliance.