Discover To Enforce EMV by 2015

Discover (DFS) announced its comprehensive strategy and roadmap that includes Discover Network, Diners Club International, PULSE and Discover Card. In alignment with U.S. EMV migration timelines, Discover is introducing Fraud Liability Shift for Discover Network (in the U.S., Canada and Mexico) and PULSE (in the U.S.), effective October 1, 2015 at point-of-sale terminals and Oct. 1, 2017 at automated fuel dispensers. This Fraud Liability Shift policy will be a risk-based payments hierarchy that benefits the entity that leverages the highest level of available payments security. As Fraud Liability Shift is already in place for Diners Club International (effective December 31, 2012 for mandated Participants), Discover will have one standard liability shift policy in place across all networks by October 1, 2015. Starting October 2013, Discover will also grant annual PCI audit waivers for merchants that process 75% of Discover Network transactions via terminals supporting both contact and contactless payments.

Inside Secure NFC Payment Applet MasterCard Certified

Inside Secure semiconductor solutions for secure transactions and digital identity announced its Mobile MasterCard PayPass M/Chip 4 payment applet has attained MasterCard CAST and Functional certification on the Inside SecuRead NFC module. The INSIDE payment applet can be used by banks, wallet providers, transit operators, mobile network operators, handset and tablet makers and others in SIM, microSD and other form factors to enable MasterCard payments in any NFC mobile device. The INSIDE Mobile MasterCard PayPass M/Chip 4 payment applet is part of the company’s ongoing development effort to offer a comprehensive suite of pre-tested or certified branded payment, access control and banking applets. INSIDE also plans to support the Visa Mobile Payment Applet, First Data CertiFlash Mobile and the SecureKey Authentication Applet.

Paragon and TSS Launch ATM Remote Key Loading

Paragon Application Systems (Paragon) ePayment simulation and testing solutions has partnered with Trusted Security Solutions (TSS), a leading provider of ATM key management solutions, to add Remote Key Load (RKL) testing to Paragon’s ATM simulation, configuration and testing solutions. TSS is providing the RKL module for Paragon’s ATMulator Plus, FASTest, and FASTress products. RKL provides ATM acquirers and terminal drivers with the ability to deploy the ATM Terminal Master Key from the software host to the EPP (Encrypted Pin Pad) and PED (PIN Entry Device). The ATM Terminal Master key is used to download the PIN encryption key which encrypts the PIN that customers enter to ensure that transactions are secure.

AmEx Intros Mobile Loyalty Points Program

The American Express Membership Rewards program launched Mobile Gift Cards, allowing Cardmembers to use Membership Rewards points for smartphone-enabled gift cards and use them instantly to pay with their smartphones, currently available at eight different major retailers. This also allows Cardmembers to use Mobile Gift Cards to pay for items online or over the phone. Cardmembers log into their Membership Rewards account by using the American Express app or visiting AmericanExpress.com from a smartphone; browse the Mobile Gift Card catalog and use points for the desired gift card; select the gift card in the account’s Gift Card Wallet; and select “tap to pay” from a smartphone. Cardmembers may need to enter the 4-digit security code from the front of their American Express Card, and the 3-digit security code on the back of the Card.

Aviso Launches Payment Messaging Gateway

Aviso announced the launch of “Novate” payment messaging app, designed to work collaboratively with existing legacy payment systems to provide the flexibility and functionality that existing systems may lack and protect the huge investment made in the technology. The first customer to install “Novate” is using it to add China Union Pay and JCB payment network interfaces to their existing payment switch. Now Solutions developed by Aviso facsilitate over 30 acquiring banks and 45,000 merchants to process more than 750 million transactions annually. Aviso is continuing to add functionality to both its real time and back office capability with the initial product roadmap being focused on transaction acquiring and multi-channel POS capability.

Consumer Credit Outstanding Down M/M, Up Q/Q

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit having spiked 5.9% in August, it witnessed a 4.1% decline September. With growth of 5% since the year ago period, outstanding consumer credit has seen growth of 2% since the July figure, according to the Federal Reserve. Down from the August figure of…

VeriFone Launches Dynamic EMV Platform

VeriFone Systems made available its “Sail EMV” platform allowing banks and acquirers to quickly provide smartphone and tablet-based chip-and-PIN card payments solutions to small and medium-sized merchants. This offers a complete solution to expand their product portfolios with custom-branded services that enable mobile merchants to accept chip-and-PIN payments and payment adapters designed to meet industry security requirements. It also includes mobile phone SDK’s for easy integration with iOS and Android mobile platforms and a secure transaction management system leveraging VeriFone’s Point Gateway payment-as-a-service global infrastructure, adding to VeriFone’s suite of chip-and-PIN enabled smartphone and tablet solutions, including PAYware Mobile Enterprise hardware and VeriFone GlobalBay mobile software that is already being deployed globally with larger retailers. The “SAIL EMV” solution contains all of the building blocks that banks and processors need to build a custom branded experience.

MasterCard to Host Dialogue on Financial Inclusion

MasterCard research now confirms the economy, health care, and taxes are in the for front for American consumers, 2/3 of whom feel the 88 million Americans lacking access to basic financial services agree it’s an issue to be addressed. When asked how financial inclusion would factor in determining their vote, about one-third of Americans interviewed said it would be important. The vote importance is higher among males ages 18-54 with 41% stating that financial inclusion would be important as well as unmarried Americans with 42% considering the issue important. MasterCard is subsequently hosting a Financial Inclusion Dialogue as part of its Cashless Conversations Series on November 13th, hosting experts across financial services, non-governmental organizations to discuss strategies and share best practices for increasing financial inclusion.

Western Union Prepaid Cards Available at 7400 Family Dollar Stores

Western Union prepaid cards are now available at more than 7,400 Family Dollar locations in 45 states, offering the award-winning Western Union® Gold Card MasterCard and the Western Union® Telemundo MasterCard to customers. Both of the cards can be used anywhere debit MasterCard is accepted, including at ATMs and for online shopping and can be reloaded at more than 60,000 retail locations, including Family Dollar stores and 46,000 Western Union Agent locations throughout the U.S. Cardholders can also receive funds on their card via payroll or government benefits direct deposit; a Western Union Money Transfer directly onto the card; or transferring money to the card from a bank account.

BMW Group Financial Relaunches BMW Credit Card program

BMW Bank of North America is re-launching a new, three-tiered BMW Credit Card program with an expanded Visa credit card collection. The BMW Card, the BMW Signature Card and the BMW Ultimate Card – issued by the BMW Bank targets existing cardholders, introducing them to the new program and, where applicable, inviting them to upgrade to another tier, all without changing their account numbers. Cardholders will have access to a range of premium reward redemption options developed from customer feedback and realigned with the BMW brand, including enhanced point earnings and a broader array of redemption levels.

KashFlow Names New Vice Chairman

KashFlow cloud-based accounting software company has appointed seasoned software CEO Raj Patel as Vice Chairman. Following 5 years as CEO of global business software company, Exact, Raj has been working with KashFlow for the past nine months in an advisory position and bought an equity stake in the accounting software business. The support for the Executive team that Raj will bring will allow Founder and CEO Duane Jackson more time to investment in youth startup projects.