Wright Express Corporation value-based business payment processing and information management solution posted its 4Q/11 revenue up 22% to $139.8 million from the year ago figure of $114.9 million. For the full year 2011, revenue increased 42% to $553 million from $390 million in 2010. This was due in large part to the Average number of…
Visa launched its mobile services, allowing financial institutions to offer their account holders account history and balance monitoring, funds transfer and real time transaction alerts on their mobile devices. Partnering Monitise, Visa enhanced its “Visa DPS” issuer processing platform to offer mobile services that are fully managed by Visa and can be accessed with any mobile device, any mobile channel, and with any eligible debit, credit or prepaid account. Additional services are currently in development including mobile check deposit, mobile (NFC) payments, mobile offers, and support for V.me by Visa, Visa’s digital wallet service.
USA Technologies wireless appointed Deborah G. Arnold to the Board of Directors, bringing the number of board members to nine, of which seven are independent. Ms. Arnold was VP, global consumer products at Visa International, led the global smart card migration effort, along with the development of a new payment product, Visa Horizon, for emerging markets. Prior to joining Visa, she held a variety of executive positions in the telecommunications and financial services industries. She holds a Bachelor of Arts degree from Duke University as well as certification from Universite de Lausanne in Lausanne, Switzerland.
First Data Corporation electronic commerce and payment processing released its “SpendTrend” analysis for the full month of January 2012 compared to January 2011. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, for which year-over-year dollar volume growth was 7.0% in January. Overall transaction growth…
FiTeq Technologies launched its payment card that incorporates an approved EMV payment applet in combination with the FiTeq Energizer Stripe(TM) enabling a unique cryptogram (FiTeq Transaction Specific Code(TM)) to be created within the magnetic stripe data packet for each transaction. This solution ensures dynamic authentication whether the card is used at EMV terminals or legacy magnetic stripe terminals. Dynamic authentication safeguards cardholder data by making it valid for one transaction only, then expiring, precluding re-use by fraudsters. Dynamic authentication is widely regarded as the optimal means to prevent losses from skimming and Account Data Compromise (ADC), both of which can result in counterfeit account usage. Battery powered and embedded with FiTeq’s Energizer Stripe, the card lets the magnetic stripe data packet to create a unique ID that changes for each transaction: the FiTeq Transaction Specific Code.
ControlScan PCI compliance and security solutions announced its expansion into the security market with “ProTect” Managed Security Services. ControlScan’s “ProTect Web Application Firewall” (WAF) service improves the security of websites and Web applications, while increasing performance and reducing internal bandwidth usage, regardless of whether a business’s website is hosted on a server by an Internet provider or another third party. It also ensures merchants are continually satisfying PCI DSS requirement 6.6 and constantly protecting cardholder data.
Heartland Payment Systems processed 43,982 credit and debit card transactions totaling $924,500 on Super Bowl Sunday and during accompanying special events for Super Bowl XLVI. Heartland Payment Systems provided an additional 60 wireless POS terminals to supplement the nearly 600 POS registers already in use at Lucas Oil Stadium. The extra terminals helped ensure that all credit and debit card transactions were processed quickly, smoothly and securely.
According to a new White Paper released today by NACHA – The Electronic Payments Association and PayItGreen, nearly 30-40% of consumers receiving financial statements and bills online also receive paper versions, according to Javelin Strategy & Research. Known as “double dipping,” surprisingly exists primarily among Gen Y and Early Adopters. However, Gen Y and Early Adopters are more likely to respond positively to messages encouraging a complete transition to paperless while nearly 20 % of Gen Y consumers simply forgot to turn off paper statements, 41% of whom would be receptive to the automatic shut-off of paper statements when signing up for online billing and payments- to which 48% of early adopters would be receptive.
SS&C Technologies Holdings financial software-enabled services and software appointed Punit Satsangi Managing Director of Business Development, Emea. Satsangi will bring with him more than 18 years’ experience in sales and business development and be responsible for driving the continued growth and success of the company’s presence in Europe, Middle East, and Africa region. He holds a Bachelor of Science degree in Economics and a Post Graduate Diploma in European Management as part of the Flemings Graduate scheme.
Gemalto digital security, has launched its in-branch “Dexxis EMV” instant issuance card solution for U.S. banks. Designed to streamline and accelerate EMV migration “Dexxis” instant issuance allows banks to immediately issue and activate initial and replacement cards directly at the physical bank branch location, rather than sending personalized cards to end users via postal mail. Gemalto’s “Dexxis EMV” instant issuance introduces personalization on site, by securely performing smart card chip encoding in addition to magstripe encoding and plastic printing or embossing. The “Dexxis EMV” instant issuance solution is part of the comprehensive personalization solutions and services that Gemalto offers financial issuers all over the world.
TSYS announced Tinkoff. Credit Systems Bank (TCS) has upgraded to its “PRIME 4” card and merchant management solution. TCS already introduced a credit card monoline business using the PRIME platform to launch 1.7 million credit cards in less than four years. It will now use PRIME 4 to manage the issuance of its MasterCard-branded Tinkoff Platinum credit card. It provides a scalable, single platform licensing solution for both card issuing and merchant acquiring and integrates real-time online authorisation and switching, ATM management, fraud detection and risk management tools.
Central Bank of Malta has chosen to deploy the LogRhythm log management integrated log management and Siem 2.0 Security Information and Event Management solution to automate its security procedures and improve operational efficiency across the organisation. The Bank is also using LogRhythm’s solution to ensure industry best practice procedures are being followed and to enhance the organisation’s data security. The Bank wanted a centralised and automated solution that could not only collect all logs generated across the organisation’s whole infrastructure, but could also analyse the logs collected in real-time while providing a consolidated overview of events. The Bank is also using LogRhythm’s solution to identify and track anomalous activity that occurs across its networks, including potential security threats, as confirmed by Glen Lethridge, manager Technology and Knowledge Services office.