8% the New Sticking Point for Unemployment Rate

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Remember 2011 when the unemployment rate did not budge more than a fraction of a percentage from 9%? Well it appears the 2012 answer to that scenario is 8%. Essentially unchanged since January, the number of unemployed persons (12.7 million) in June showed an unemployment rate once again just above 8%,…

8% the New Sticking Point for Unemployment Rate

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Remember 2011 when the unemployment rate did not budge more than a fraction of a percentage from 9%? Well it appears the 2012 answer to that scenario is 8%. Essentially unchanged since January, the number of unemployed persons (12.7 million) in June showed an unemployment rate once again just above 8%,…

FSV Payment Partners Houston Food Bank, Second Harvest for Food Drive

FSV Payment Systems network branded prepaid debit card products and processing services joined the fight to end hunger by partnering with networking food banks of Feeding America. The donations collected from the FSV Community of Giving campaign equated to 4,646 meals and will be shared by the Houston Food Bank and Second Harvest of North Florida in communities where FSV Payment Systems employees live and work. Additionally, the funds collected by FSV Payment Systems will support Houston Food Bank and Second Harvest of North Florida operations this fiscal year, including helping to acquire, process and distribute food to partner agencies; expand food programs; and increase community outreach and nutrition education.

QThru Launches Retail Checkout Mobile Platform

QThru launched a new mobile platform, allowing shoppers to scan items with a smartphone as they shop, facilitating an incredibly efficient checkout from their phone. The QThru system has had a successful test market deployment in the Seattle area. Aretailer’s products and pricing are seamlessly synchronized with the QThru cloud. Customers can then download the QThru smartphone app and start shopping. To complete the checkout process shoppers simply enter a previously stored passcode and scan a QR code at a checkout kiosk which completes the transaction from their phone. QThru uses a cloud-based, fully PCI-compliant, secure storage facility to protect payment and personal information. A receipt is generated from the kiosk, which is highlighted in a different color and is reviewed by a store employee at the door.

PayLane Adds Site Plugins

PayLane now allows shops built on Magento and osCommerce platforms to accept credit and debit cards, PayPal, Giropay, iDEAL and many more, and accept payments in 160 currencies from over 50 countries all over the world. The installation of the plugin takes only a few minutes and allows PayLane clients to process payments instantly. PayLane now offers a plugin for WordPress, which is a platform best known among bloggers. Both the platform and the plugin differ from standard e-commerce solutions. Using the PayLane plugin allows to prepare an easy-to-use system that enables readers to make a payment for a fixed-price service, product, access to the website content or to make a donation, for example by creating a custom button, such as “Donate” or “Pay”. Anyone who visits the Wordpress website will be able to make a payment or donation.

FIS Extends Bristol County Savings Bank Relationship

Bristol County Savings Bank has signed a long-term renewal agreement for FIS’ core account processing, which will continue to power the bank’s front- and back-office operations. FIS is a leader in delivering core processing solutions to the community bank market. The comprehensive features of FIS’ core platforms enable financial institutions to increase operational efficiency and productivity and to mitigate risk. In addition, the flexible and easy access to customer information provides community bankers the ability to forge stronger relationships with their customers, leading to increased growth and customer retention. The bank also implements FIS’ remittance processing, eBanking, electronic funds transfer (EFT) and Business eBanking treasury cash management.

Florida Credit Union First to Launch VISA Prepaid EMV Card

PSCU is the first to issue VISA Prepaid EMV cards in the United States. Several PSCU credit unions will begin issuing the new cards later this summer and more than a dozen credit unions plan to deploy prepaid EMV cards this fall. Prepaid EMV cards deliver full debit card functionality and are designed for credit union members who are working, traveling, living or studying in Canada and Europe and other regions where EMV technology is the preferred method for payment processing. These versatile cards also contain a magnetic stripe for use in the U.S. Chip authentication is proven to reduce transaction fraud and positions credit unions to avoid VISA’s liability shift to issuers, which is scheduled for 2015. Value can be loaded onto the cards from a web site, IVR, branch, using debit/credit cards, account transfers from checking/savings accounts or through direct deposit.

Consumer Confidence Hit Lowest in 6 Months

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover Spending Monitor, measuring consumer confidence in the economy, hit the lowest levels in June since January 2012. Down 4.8 points to 90.7 in June, those with the perception the U.S. economy is improving dropped 4 percentage points to 29% in June while 53% now rate the U.S. economy as…

American Express Releases Plan to Advance mPayments

American Express released its network roadmap to advance EMV chip-based contact, contactless and mobile payments for all merchants, processors and issuers of American Express-branded cards in the U.S. American Express will work alongside other industry participants to drive interoperability across the U.S. and other countries and support chip-based technology for chip and PIN, chip and Signature, contactless and mobile transactions. With this, by April 2013, processors must be able to support American Express EMV chip-based contact, contactless and mobile transactions and beginning October 2013, merchants will be eligible to receive relief from PCI DSS reporting requirements if their POS acceptance locations re enabled to process American Express EMV chip-based contact and contactless transactions. By October 2015, American Express will institute a Fraud Liability Shift (FLS) policy that will transfer liability for certain types of fraudulent transactions away from the party that has the most secure form of EMV technology. U.S. fuel merchants will have an additional two years, until October 2017, before the FLS takes effect for transactions generated from automated fuel dispensers.

North American Bancard Names CIO

North American Bancard added Tracy Metzger as chief information officer. Tracy’s executive experience features roles as CIO, CTO and president over the past 20 years. Metzger has been credited with increasing sales, decreasing costs and growing margins and comes to NAB from TGate Payments, a cloud computing payment processing Platform as a Service (PaaS) company, where for two years he served as president and chief technology officer. Tracy served eight years as president and CTO at payment processing and technology company Abanco International and was CIO at Gate Gourmet, the second largest global airline catering company, and vice president of technology strategy at Concord EFS, a credit/debit card transaction processing and settlement services provider.