Datacard Group ID and card personalization have optimized their Datacard CardWizard instant issuance software for Electronic Benefit Transfer programs, allowing government benefits departments to instantly issue reloadable open-loop prepaid cards. Instantly issuing prepaid cards under public sector managed benefit programs significantly reduces costs because it eliminates the need to produce and mail cheques, by enhancing existing branch office benefits management systems and business processes. Utilizing the CardWizard issuance software and Datacard® hardware, Canadian government organizations can capture the necessary information for the benefits disbursement process, including accessing and synchronizing case management and account data for security and authentication, as well as supporting the funding management of prepaid benefits cards.
Fiserv announced its Accurate Reconciliation solution for transaction matching, reconciliation and exception management has received the “SWIFTReady” Reconciliation Label for 2012. This renewal demonstrates Accurate Reconciliation solution meets stringent SWIFT criteria linked to the support of messaging standards, services and connectivity requirements, which are re-evaluated every year to ensure alignment with market changes. Complementing the SWIFTReady accreditation, the Accurate Reconciliation solution also introduced support for ISO 20022 XML messages, supporting clients in their integration of SWIFT MX message content and implementation of SEPA compliant controls.
Giesecke & Devrient (G&D) is introducing SmartTrust Portigo mobile wallet solution for NFC services and beyond which brings all the functions of an electronic wallet onto a common platform. Portigo is a framework that allows the deployment of various services. These services put not only various payment media, such as debit and credit cards, but also ID cards, loyalty cards, public transport tickets, and access keys for buildings and vehicles in the electronic wallet. Customers can use the applications for these services securely and conveniently from their smartphones. This creates brand new business opportunities for mobile network operators and suppliers of the abovementioned services, for instance banks. SmartTrust Portigo from Giesecke & Devrient will replace traditional wallets.
UMB Bank in alliance with Dynamics launched the “ePlate” credit card to allow brands, retailers, non-profit organizations or entertainers the opportunity to offer consumers a unique reward, or experience, they can only earn by using an ePlate credit card. When a company becomes an “ePlate Experience” Provider, they expose consumers to a “rewards offer” that goes above and beyond what any other company is doing. Currently, companies and organizations with traditional rewards cards offer consumers the opportunity to earn “things.” But with ePlate, they can reward consumers with unique experiences which create a better way for brands to build loyalty and a priceless connection with the consumer.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Euronet Worldwide electronic payments provider posted 3Q/12 revenues of $316.4 million, a 6% increase from $299.5 million and operating income of $24.2 million, a 20% increase from $20.1 million. Net income was $14.6 million compared with net loss of $3.2 million while transactions totaled 587 million, a 12% increase from 524…
Wright Express changed its name to WEX, reflecting its transformation and growth strategies which are focused on physical, digital and virtual corporate card payment solutions for businesses internationally. Since its beginnings as a fleet card provider in 1983, through a successful initial public offering in 2005, WEX Inc. has grown exponentially to become an international company with 2011 revenues of approximately $553 million.
Epson America pos solutions, announced that Groupon has selected Epson receipt printers for its recently launched Breadcrumb POS system, an easy-to-use, powerful and affordable solution that runs on iPads for restaurants, bars and cafes. Epson’s most popular food service receipt printers, both the TM-U220 and the TM-T88V, will be available to businesses that order Breadcrumb.
National Credit-reporting System announced the expected fulfillment of the IRS’ commitment towards e-Signature of the 4506-T. The electronic execution method will improve efficiencies for multiple industries, including mortgage finance, credit card and insurance utilizing the company’s solutions, such as TRV (R) Services in evaluation of a consumer’s ability to pay. According to an IRS communication this week to participants in its income verification service, beginning January 2013, the IRS looks to allow taxpayers the ability to execute a 4506-T for tax return transcripts using e-signature technology. Consumer satisfaction is expected to rise as the 4506-T may now be bundled with disclosures eligible for execution using electronic signature.
Elavon and 41st Parameter online fraud detection and prevention announced agreements whereby Elavon will offer its clients 41st Parameter’s “FraudNet” hosted fraud prevention solution. Elavon selected 41st Parameter’s FraudNet solution on the basis of its fraud detection results and extremely low false positive rates, in conjunction with its over eight years of continuous innovation, fraud expertise and a proven track record of servicing the world’s top banks, travel and ecommerce organizations.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Chase released its 3Q/12 “Freedom Lifestyle Index” quarterly barometer of consumer trends based on aggregated Chase Freedom cardholder spending data. Indicating overall cardholder spending was up 4% from the year ago period, the Index shows spending was strong in food, back-to-school, and outdoor/leisure expenditures. From 2Q/12, overall spending was up 1%…
Giesecke & Devrient is launching its “SmartTrust Portigo” mwallet solution for NFC services, putting debit and credit cards, ID cards, loyalty cards, public transport tickets, and access keys for buildings and vehicles in one electronic wallet. When users download software called Wallet Client onto their smartphones, they establish a connection to a secure element and to the Wallet Manager, which is provided in the mobile network by the Wallet Issuer. The Wallet Manager allows the Wallet Issuer to conveniently deploy services provided by various NFC service providers and supply them to their customers, who can simply download the corresponding widgets onto their smartphones.
Target reached an agreement to sell its entire consumer credit card portfolio to TD Bank Group, currently assessed at a gross value of approximately $5.9 billion. The two companies entered into a seven-year program agreement under which TD will underwrite, fund and own future Target Credit Card and Target Visa receivables. The agreement applies to Target’s U.S. credit card operations and stipulates Target will maintain the current deep integration between its financial services operations and its retail operations. The agreement does not have any impact on Target’s 5% REDcard Rewards program. Target team members will continue to provide all servicing for Target Credit Card and Target Visa accounts. The portfolio sale and program agreement are designed to have minimal impact on Target’s current cardholders, guests and the Target team members who support financial products and services. Target expects to deploy proceeds from the sale in a manner that will preserve its strong investment-grade credit ratings. Specifically, the company expects to apply approximately 90 percent of net transaction proceeds to reduce the company’s net debt position, with the remainder applied to share repurchase over time.