Isle of Wight Festival goers will will experience the benefits of automatically topping up their contactless prepaid MasterCard PayPass wristbands and also using them to access the event. Now, 13,000 ticket holders will receive PayPass wristbands before they come to the event, making entry to the site and grabbing a bite to eat even easier, using Radio Frequency Identification (RFID) technology. Data is transferred safely and securely from the tag attached to the wristband to the contactless readers installed in many locations around the festival. For purchases of GBP20 or less, all users have to do is simply tap their PayPass wristband on the reader, removing the need to dip a card, enter a PIN or provide a signature.
Wolters Kluwer Financial Services announced that Société Générale Bank & Trust has gone live with its FRSGlobal regulatory reporting solution. Société Générale Bank & Trust chose the FRSGlobal Regulatory Reporting solution to help automate, standardize and simplify its Singapore and Hong Kong regulatory returns. Subsequently, the bank will offer automation, standardization and simplification of reports as a result of less reliance on dependencies across the end to end process; strong audit trails of data flows; and consistency across the different reports presented to the regulators. Société Générale Bank & Trust is able to benefit from FRSGlobal’s unique Regulatory Update Service, which gives them access to information to help remain up-to-date and compliant with changes in regulatory requirements.
ACI Worldwide is working with Credit Agricole Cards and Payments to update its payments infrastructure and deliver scalability, reliability and agility. In doing so, Credit Agricole Cards and Payments has built its payment infrastructure using BASE24-eps, ACI’s flagship payment engine. Credit Agricole Cards and Payments is the processor for the payments business of Credit Agricole and as the foundation for its ongoing project to upgrade and improve its payment processing infrastructure and enable innovation, has implemented BASE24-eps running on IBM Power 770 systems for international customer support. Credit Agricole Cards and Payments has also started working with ACI to use BASE24-eps for transaction authorisation for the 30 million cards issued by the various Credit Agricole institutions.
USA Technologies wireless, cashless payment and M2M telemetry solutions announced for the quarter ending June 30th projected total revenue of approximately $8.0 million, compared to $6.9 million in the year ago period. Meanwhile, transaction fees are expected to total $6.4 million, an increase of approximately 27% from 4Q/11 and recurring revenues are expected to represent…
American Express has launched its “PAYVE” digital payment service, allowing large and mid-size companies to centralize the processing of multiple payment methods through a single, easy-to-use electronic platform. Payment methods include check, ACH, international wire and American Express’s web-based payment solution, Buyer Initiated Payments (BIP) allowing companies to improve working capital and cash flow management while streamlining accounts payable (AP) processes. The “PAYVE” solution allows companies to consolidate payments through a single platform to increase control, efficiency and transparency of their payables and accelerate their migration from paper check to electronic payments to reduce costs and make their accounts payable process more efficient. Clients simply send a file to American Express that can include instructions for multiple vendors and various payment methods. American Express will then direct payments to each supplier using the designated method – check, ACH, international wire or BIP.
Bluepoint Solutions RDC, item processing and enterprise content management solutions appointed Robert Loughrey, chief technology officer (CTO) to oversee Bluepoint’s product development, quality assurance, professional services and customer support. Bringing with him more than 25 years of experience managing research and product development initiatives, Loughrey is a proven manager of both projects and people, his vision will play a key role in Bluepoint’s continued expansion into bank and credit union markets, as well as the development of new channel partnerships. He was also the senior program manager of PatientSafe Solutions, where he led three major software releases within 15 months and a group engineering manager at Intuit, where he implemented Agile development methodologies like Scrum, which allowed for the quick development and delivery of two leading-edge products.
Digital River enhanced its Digital River World Payments solution to include cloud-based subscription billing, allowing merchants to increase recurring revenue across global markets as well as optimize the entire payment lifecycle from subscription initiation through the commerce transaction and payment. Digital River has offered subscriptions as part of its Global Commerce™ enterprise solution for more than a decade and is now extending that deep experience to the Digital River World Payments solution. The new integrated offering provides merchants access to both global online payment processing and a cloud-based subscription billing service via a single solution, a unique differentiator among competitive subscription solutions. It offers compliance management for subscriptions; customizable billing models; and support during pre-and post-transaction stages.
Mako Networks network management and security company is now certified for a third consecutive year as compliant with the PCI DSS. Having met the more than 200 requirements of the PCI DSS, Mako was the first network management company in the world to pass the rigorous audit process in 2010, the highest security clearance attainable for protecting credit card data. The audit culminates in an annual worldwide Report on Compliance (RoC), issued for 2012 by Verizon Business, which attests to the overall security of Mako’s solutions, including a cloud-based Central Management System, and network appliances installed at customer locations. Merchants that use the Mako System to protect their payment card data can apply the Mako RoC in their own annual audits, drastically reducing the scope and number of technical questions they’re required to complete.
Payment Data Systems electronic payments solutions provider selected the industry leading “Excrypt SSP9000” hardware security module from Futurex for deployment with its “iRemotePay” mobile application. The “iRemotePay” platform is a wireless mobile payments app, initially deployed for the iPhone®, iPad®, and iTouch® to process credit card and ACH payments (e-Checks) over the wireless networks from remote locations and view these payment transactions while away from the office. The “Excrypt SSP9000” is compliant with both current and emerging audit requirements, including ASC X9.24 – Part 1 and Part 2, FIPS 140-2 Level 3, and PCI HSM. During payment transactions, sensitive cardholder data is immediately encrypted at the point of capture by the iRemotePay mobile application and then decrypted by the Excrypt SSP9000 behind a secure boundary, ensuring full end-to-end protection.
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WePay online payment acceptance partnered Fundable.com to power payments for the company’s crowdfunding platform. The WePay API enables companies like Fundable to allow their users to start accepting payments instantly, without requiring users to have a pre-existing merchant account. The Marketplace API provides Fundable with a fully compliant payment solution, without compromising the platform’s user experience. The recently passed JOBS Act (also known as the Crowdfunding Bill), which will allow startup companies to publicly raise money from non-traditional investors, has led to explosive growth in the crowdfunding space.
USA Technologies cashless payment and M2M telemetry solutions for self’serve, small’ticket retailing industries, provided shareholders with a review of its nominees for election to the board of directors at the upcoming 2012 Annual Meeting of Shareholders to be held on Thursday, June 28, 2012 at 9:00 a.m. As part of its aggressive turnaround strategy, the USAT Nominating Committee and executive leadership identified several key areas of experience that they considered to be critical to enable USAT to continue its growth trajectory.