Elavon & 41st Parameter Partner on Fraud Prevention

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.

U.S. Bancorp 3Q/12 Total Revenue Up 8% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bancorp posted a 3Q/12 net income of $1,474 million thanks in part to $2.4 billion of lines related to new credit card accounts. With this, total net revenue was up 8% from the year ago quarter and 2.2% from the previous quarter. Also helpful to annual growth were net charge-offs…

Visa Board Elects New CEO

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Visa Board of Directors has elected Charles W. Scharf, formerly CEO, Retail Financial Services with JPMorgan Chase, to succeed Joseph W. Saunders as CEO. He also is a former director of Visa. The Board also intends to appoint a new non-executive independent chairperson with the retirement of the current chair…

Citi Ranked Greenest Bank by Newsweek Magazine

Citigroup has been ranked the greenest bank in the United States by Newsweek magazine on the annual Newsweek “Green Rankings.” This comprehensively assess the environmental performance of the largest publicly traded companies in the U.S. and around the world, for which Citi was ranked the 17th in the United States- the highest ranking of any U.S.-based bank for the second year in a row. This is thanks to its role in the creation of the Equator Principles and Carbon Principles, two standards for addressing environmental and social risks in the financial sector, and its $50 billion Climate Initiative aimed at supporting renewable energy, energy efficiency and clean technology. Also, Citi has directed over $36.4 billion as part of the 10-year initiative announced in 2007, including financing for two of the world’s largest solar energy projects.

AmEx Finds Fewer Mass Affluent Retirement/Health Care Concerns

Concerns about retirement and the cost of health care declined from six months ago among mass affluent Americans (consumers with $50,000-$250,000 in investable assets) according to the Fall 2012 Merrill Edge Report. Released today by Bank of America, the survey also found that college education continues to be a major concern, but this group is also taking greater responsibility for their finances. Seventy-three percent of mass affluent fear that their retirement assets will not last throughout their lifetime, down from 83% in April 2012, and 84% of this group are concerned about the rising cost of health care, also down from 89% in the same time period. Sixty-nine percent of mass affluent couples discuss their finances at least a few times per month with 34% of married mass affluent Americans are discussing their finances more than their sex life. Meanwhile, 52% of mass affluent have saved less than $250,000 for retirement. As a result, more than half of respondents plan to retire later than they had one year ago (56 percent), a year-over-year increase of 19 percent from November 2011. Three in four (73 percent) mass affluent who are between 10 and 19 years from retirement have made changes to the way they save for retirement over the past year with 36 percent trimming everyday costs to bolster their savings and 21 percent starting to work with a financial advisor.

Clear2Pay and Backbase Combine Interface

Clear2Pay payment solutions for financial institutions and Backbase software specialists are set to conduct a joint demonstration at Sibos 2012 of a Payments 2020 customer experience ‘inside the bank’. This will offer users of the Clear2Pay payments technology a compelling user interface that matches the level of agility and sophistication that the Backbase technology brings to thousands of retail and business bank customers around the world. Clear2Pay and Backbase started discussions when it became obvious for Clear2Pay that the user experience should not be limited to the bank’s customers. Thousands of banks and payment providers’ staff around the world work with Clear2Pay’s applications on a daily basis and they too want a user experience that gives them what they need, how they want it and relevant to their work task, location and device.

USA Tech Ranked 5th for U.S., 30th Worldwide 2011 POS Shipments

USA Technologies has been ranked as one of the top five shippers of POS terminals in the United States. The Nilson Report, a leading source of research on consumer payment systems worldwide, again ranked USAT 5th among the leading POS shippers in the United States for calendar year 2011. On a worldwide basis, USAT was ranked 30th. In addition to ePort EDGE and ePort G8 POS terminals, USAT’s PCI-compliant, cashless payments technology portfolio also includes QuickConnect™, an API Web service, all of which integrate with ePort Connect®, USAT’s comprehensive service platform designed specifically for small-ticket, self-service unattended retail locations such as vending and kiosk.

TSYS Revenue Up 1.8% Y/Y, 1% Q/Q

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TSYS posted 3Q/12 a basic earnings per share of $0.32, up 5.7% from the year ago period while revenues before reimbursable items were $406.1 million and operating income was $90.9 million, up 4.1% and 12.0%, respectively, from the year ago period. Total revenues for the quarter were $468.1 million, an increase…

Visa Research Shows mMoney Demands Financial Services

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa research now shows consumers in six developing countries are already highly aware of mobile money services. Nearly 90% of consumers surveyed expressed interest in making use of these services in the future. The study also found that security concerns associated with carrying cash and the need to quickly send money…

SocialCubix Connects to Dynamics credit card

SocialCubix launched its Facebook game payments application for the battery-powered Dynamics ePlate credit card device. When the “Scavenger Shop” experience is selected, a consumer’s gaming environment will change as they use their Dynamics ePlate credit card device. Consumers can sign up for a battery-powered Dynamics ePlate credit card device, subject to a credit approval, for individualized brand experience, through an experience application. The consumer can use different buttons on their ePlate device to select different experience applications.

Better ATM Services to ATM-Dispense Visa Prepaid Cards

Better ATM Services is set to expand the ATM-dispensed Visa prepaid card program throughout the U.S. The decision to grow the program followed the enthusiastic response from consumers and financial institutions during an in-market pilot program conducted through financial institutions in Arizona. Better ATM Services enabled ATMs at participating pilot financial institutions to use on-screen options and minor hardware adjustments to allow customers to purchase Visa prepaid cards directly from the ATM. Menus allow consumers to select between cash or Visa prepaid cards. While the pilot program allowed the selection of fixed value cards, menu options now allow account holders to designate the value to load on each card they purchase.

MLMIA Endorses PayAnywhere mPOS

The Multi-Level Marketing International Association (MLMIA) is supporting PayAnywhere, providing all members of the multi-level and direct sales profession, including corporate, support (vendors/suppliers) and independent distributors, with the mobile payment industry’s only enterprise-grade, “pay-as-you-go” mobile point of sale solution. PayAnywhere empowers MLMIA to offer to everyone in the industry the mobile payment tools they need to successfully sell merchandise and analyze which items are getting the most traction amongst buyers. PayAnywhere carges no hidden fees: no setup, monthly or cancellation fees. Independent distributors and brand reps using PayAnywhere enjoy a low 2.69% fee for swiped transactions and the fastest payouts in the industry, with transaction funds typically deposited in merchant accounts within two business days. Its available on iPad, iPhone, iPod touch, Android and BlackBerry devices.