Visa Takes Hit on Interchange Litigation

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa posted its fiscal 3Q/12 (2Q/12) net loss of $1.8 billion, inclusive of a litigation provision of $4.1 billion, related to the settlement agreement in the Multi-District Litigation case. The Company signed a memorandum of understanding to enter into a settlement agreement to resolve the Class Plaintiffs’ claims in the Multi-District…

Payza Names New CEO

Payza payment platforms for e-commerce, corporate disbursement and remittances appointed Alastair Graham Chief Executive Officer. Bringing with him more than 20 years of experience in strategic direction, Graham was the founder and director of 5 Grams of Plastic, which provides strategic guidance to companies in the payments industry. Before leading 5 Grams of Plastic, Graham helped start up several companies and co-founded TransSend Payments Ltd., a financial services company that focused on the rapidly growing stored-value card market, that generated $100 million in card program volumes within two and a half years from startup.

MasterCard and Gilt City Partner, Offer Priceless Experiences

MasterCard and Gilt City partnered to offer registered users of U.S. MasterCard ‘Priceless Cities’ programs with a unique range of city adventures from a “no reservation needed” series or chef’s table experiences at coveted restaurants to exclusive, limited-time offers like meet-and-greet sessions with artists and previously inaccessible opening night tickets to plays and concerts. The ‘Priceless Cities’ global program provides MasterCard cardholders experiences, offers and privileged access to the things they are most passionate about, including travel, sports, shopping, culinary experiences, and arts and entertainment.

Bank of America Merrill Lynch Expands Commercial Card Internationally

Bank of America Merrill Lynch transaction services card solutions are now available in Argentina, the Czech Republic, Finland and Poland, as well as the Scandinavian countries of Denmark, Norway and Sweden. The addition of the seven countries reaffirms the company’s position as a leading provider of card solutions to large and middle-market companies and government entities around the world. By the end of 2012, BofA Merrill’s global card offering will be available in more than 70 countries. BofA Merrill will enable commercial card clients to benefit from the operational simplification and cost savings created by the harmonization of multiple instruments and reduced number of paper mandates that need to be managed for cardholders.

Liaison Tokenization Passes PCI-DSS 2.0 Audit

Liaison Technologies announced the Liaison Protect Tokenization-as-a-Service (TaaS™) cardholder data environment successfully passed a PCI-DSS 2.0 audit and other major payment card association security requirements related to the protection of cardholder data. Through Trustwave. The cardholder data environment consists of the perimeter and internal firewalls, the Liaison Protect Token Manager application, the production VLAN, the Web VLAN and the VzCaaS Management VLAN. The PCI requirements are comprised of VISA’s Cardholder Information Security Program (CISP) and MasterCard’s Site Data Protection (SDP) program, as well as Discover’s (DISC) and American Express’s Data Security Operating Policies. The Liaison ‘Format Preserving Tokenization’ offers on-premise and as a managed service in the cloud, giving customers a choice on how to tokenize any type of confidential information, including credit card numbers. and ATMIA Establish Donation Agreement forged agreements to contribute to the U.S. Defense Fund for every ATM machine ordered using the promotion code “ATMIA2012”. The U.S. Defense Fund helps ATMIA continue to employ the right professional resources that actively work with lawmakers and regulators for the protection and longevity of the ATM industry. is a leading wholesale supplier of retail ATM machines, parts, supplies and repair service in the United States, and has been an active member and sponsor of the ATMIA and the U.S. Defense Fund for several years.

Discover Expands Rewards Redemption Options

Discover has partnered RewardsPay consumer payment service to provide cardmembers Cashback Bonus to make online purchases for Apple iTunes®, Facebook codes® and at Disney’s Club Penguin. Discover also kicked off the hot days of summer with a new set of rotating quarterly 5% categories. From July 1 – September 30, 2012, Discover cardmembers can earn 5% Cashback Bonus on up to $1,500 in gas, movie theatres and theme parks by simply enrolling online through the Discover Account Center. Once they reach the 5% spending limit, cardmembers still automatically receive up to 1% Cashback Bonus on all other purchases. A complete list of merchants offering between 5% – 20% Cashback Bonus can be found at

Fiserv Forum to Host Business and Technology Strategy

Fiserv announced speaker and agenda details for its annual credit union client conference Sep. 10-13 in Las Vegas. Fiserv Forum – Fall 2012 is the largest annual technology-focused event for credit unions, and is expected to attract more than 2,000 credit union and financial technology professionals. Strategic decision-making, growing credit union membership, expanding digital channels, managing risk and payment portfolio opportunities are among key areas that will be addressed. The conference will feature a 35,000 square-foot Technology Showcase, where clients can interact directly with the latest financial services solutions. Attendees will have many opportunities to network with their peers and exchange best practices for serving members. A preliminary agenda is available at

Frost Bank Expands ATM Offering with Cardtronics

Frost Bank and Cardtronics announced a significant expansion of ATM locations available for Frost customers, who will have access free of charge to all 615 ATMs at Valero Corner Stores in Texas by August 15. Cardtronics retail ATM owner is an exclusive provider of ATM services for Valero Corner Stores. This will double the number of free ATMs for Frost customers and add to the 469 ATMs operated by Frost.

VantageScore Solutions Addresses How Credit Scores Are Impacted

VantageScore made available its consumer-facing white paper to explain how and why credit scores change often, how certain common credit-related activities impact credit scores, and how to improve one’s credit score. The “Assume the Role of Managing Your Credit Prudently and Watch Your Credit Score Improve” white paper includes easy-to-follow graphics demonstrating the impact on a credit score from such things as missed payments, a credit inquiry and closing a credit account. It also includes sample consumer profiles ranging from consumers with high credit scores, those with low credit scores and those in between, as well as ways each type of consumer can improve one’s scores both in the short- and long-term. VantageScore Solutions created these profiles so that consumers can have a directional guide that easily explains how certain activities might impact their own credit scores.

Fiserv Launches Mobile App for UChoose Rewards

Fiserv financial services technology solutions launched a mobile app for its UChoose Rewards debit and credit card rewards program, letting participant use a mobile app to check and redeem their reward points. Participants can also scan UPC codes on merchandise in a store to determine if the item is available through their rewards program and how many points are required to purchase it. UChoose Rewards participants can download the mobile application from Google Play for use on Android™ devices or iTunes® for use on iPhone® or iPad devices. Fiserv also launched a new UChoose Rewards participant website, giving cardholders enhanced search functionality to make redeeming points easier.

WorldPay US Certifies Encore Networks M2M for ATMs

Encore Networks Machine-to-Machine (M2M) solutions for fixed and wireless communications, announced that WorldPay US certified Encore’s line of C2C routers for wireless ATM transactions. The C2C router was approved for global wireless transactions over the WorldPay processing platform. The C2C is immediately available to WorldPay ATM clients. Encore Networks and its C2C™ line of wireless and wireline routers will be on display at the 2012 WorldPay ATM Distributor Conference. This year’s conference is being held September 18 – 20, 2012, in Atlanta, GA.