YESpay International received the “ACT Canada Gold International Innovation Award 2011” in the Payment category for its “EMBOSS” EMV Chip & PIN card payment service. The award was issued at the Cardware Conference in Niagara, Canada. Through this highly renowned award, the payment industry also recognizes that YESpay is actively helping North American merchants and POS vendors reduce the burden of costly and lengthy PCI-DSS certification and EMV Chip & PIN accreditation of their multi-channel retail, e-commerce and MOTO payment systems. The YESpay solution allows merchants to certify their retail systems to EMV standards enabling them to fast track the deployment of fully approved POS systems and e-commerce websites.
JCB signed a memorandum of understanding (MOU) on June 10, 2011 to expand their current strategic relationship and to develop potential new areas of cooperation. The new alliance envisioned by the MOU will emphasize further strategic alliance in various fields and regions building win-win relationship in the long-term, with the aim of providing new value and products to enhance convenience for customers. The partnership between JCB and UnionPay began in 2003 when JCB and UnionPay signed a merchant acquiring agreement which enabled JCB card acceptance in China. In 2006, JCB started facilitating UnionPay card acceptance on JCB’s ATM network in Japan, followed by the launch of merchant acquiring operations in Japan last year aiming to increase the level of convenience for UnionPay cardholders.
The Center for Financial Services Innovation (CFSI) President & CEO Jennifer Tescher introduced an audience of more than 600 financial services professionals to CFSI’s “Compass Principles” initiative. These offer guidelines for the U.S. financial services industry, affirm standards of excellence in the design and delivery of the basic tools that people use to manage their daily financial lives, like checking and savings accounts, prepaid cards, and small-dollar loans. They include SAFETY; INCLUSION to promote Accessibility and Convenience; FINANCIAL CAPABILITY to Design for Consumer Success; and PATHWAYS to allow upward mobility. Throughout the feedback phase, CFSI is actively soliciting the input and feedback of providers, consumer advocates, and experts to ensure that the Compass Principles are as robust, comprehensive, and effective as possible.
Layered Technologies compliant hosting, managed dedicated hosting and on-demand virtualization/cloud computing services is now compliant with PCI DSS 2.0. Having provided PCI compliant hosting and managed services under the previous standards, Layered Tech has already supported clients who have successfully been assessed against the new PCI 2.0 requirements. The latest criteria include clarification, additional guidance and evolving requirements to address emerging threats and changes in the market. The compliant hosting solutions help enterprises adhere to the Payment Card Industry’s extensive data security standards by providing a comprehensive layer of secure management services ranging from PCI-compliant monitoring, vulnerability scans and change management processes to an advanced suite of network administration and server management services.
YESpay is set to participate at Cardware 2011 on June 14-15th and is hosting its first North American Annual partner event “Pay the New Way 2011” in collaboration with ACT Canada on June 13th at Niagara Falls. Participants will discover how they can help their customers maximize sales and revenues through current and future payment innovations, as YESpay will be hosting ACT Canada, Chase Paymentech, First Data Merchant Services, and POS vendors like Cardwatch.
Radiant Systems is launching its mobile pay platform that enables restaurateurs and retailers to complete transactions faster and create a more intimate and pleasing on-site experience. Radiant has a history of bringing mobile payment solutions to market, including its Orderman handheld technology used by servers and cashiers in over 30,000 restaurants worldwide. With consumers becoming more comfortable using technology in the palm of their hands, they are driving new demands on how they pay for purchases and interact with the businesses they frequent. The company is adding its own mobile payment capabilities to its core product lines as well as integrating with other third party payment solutions to provide relevant functionality that meets the unique requirements of individual businesses across all of its industries.
A Diebold ATM is being featured in a unique artistic creation by artists Allora and Calzadilla in the U.S. Pavilion at the 54th International Art Exhibition – la Biennale di Venezia in Venice, Italy. Allora and Calzadilla, well-known artists and innovative interpreters of contemporary art, were asked by the Indianapolis Museum of Art (IMA) to showcase the best of American art at the Biennale di Venezia. The artistic creation, which is on display through Nov. 27, 2011, incorporates an ATM that issues cash with musical accompaniment. The initiative involves prominent partners like Banca Nazionale del Lavoro, part of the Banque Nationale de Paris and Paribas Group (BNL-BNPP), and the Bureau of Educational and Cultural Affairs of the U.S. Department of State, which manages the U.S. Pavilion at the 54th International Art Exhibition – la Biennale di Venezia.
Sprint has partnered with Google to launch the “Google Wallet” application with NFC, allowing Sprint customers to tap and pay at retailers worldwide. Initially on the Nexus S 4G, the “Google Wallet” will work on the MasterCard “PayPass” network and allow users to redeem offers and even scan loyalty cards. Sprint is a charter member of the Open Handset Alliance and launched the first 4G Android smartphone. In April, Sprint launched the Nexus S 4G and launched Google Voice integrated with Sprint for Sprint CDMA phones. Sprint is actively working with others in the mobile payment ecosystem and sees this as enabling choices for customers that best meet their needs.
Bellco Credit Union announced new online security features and streamlined banking and reporting tools for its more than 4,700 business members. Over the past 12 months, online banking demand has increased 45% for Bellco business members as measured by transaction volume. New online business banking functionality enables members to capitalize on 24/7 secure online access to manage their transactions, access historical and trend reports, and confidently upload financial and employee records without fear of data or identity theft. Online business banking continues to offer the credit union members quick and easy, around-the-clock access to a full range of reporting tools and business banking services. These improvements include Check imaging, eStatements, Funds transfer and its Business credit card.
IDT has established an international remittance clearinghouse (RCH) for mobile network operators. The RCH facilitates connectivity between traditional, cash-based, money transfer operators and mobile wallets utilizing IDT’s economical transaction settlement and foreign currency exchange services. These services will enable mobile network operators to expand their reach particularly into unbanked immigrant populations in developed countries. IDT will launch RCH services with Smart Communications and Globe Telecom in the Philippines. Smart and Globe serve about 69 million subscribers and nearly 10 million mobile wallets in aggregate. Utilizing IDT’s RCH, Smart Money account holders and Globe’s GCASH account holders will be able to receive proceeds from traditional cash based money transfer transactions and be able to use those funds to make payments or withdraw cash in minutes.
Small businesses who already use Direct Deposit to pay employees are prime candidates for Direct Payment. Indicating Direct Deposit is a safer, more convenient way to receive a federal benefit payment than by paper check. Revealing strong preferences towards ACH payments and showing the potential for Direct Payment adoption, more than 44% of small business Direct Deposit users currently employ and plan to continue using other ACH services from their financial institution. Additionally, 37% of Direct Deposit users already pay at least a quarter of bills online and made 48 online or preauthorized bill payments in 30 days, two-thirds more than non-users. This, according to NACHA, concluded small business preferred Direct Deposit, many of whom were predisposed to current online bill payment activity, the use of deposit and cash management services, the number of bills paid, use of online banking services, and online banking activity.