ACI Immediate Payments
Naples, FL-based ACI Worldwide announced its involvement in several key boards and councils around the globe all with a singular focus of driving industry standards for real-time and immediate payments.
NuoDB 1MM TX
With a maximum of 40 transaction processing servers running on inexpensive commodity hardware, NuoDB’s performance was seven times higher as compared to its previous version — processing more than one million transactions per minute.
U.S. EMV Ignorance
A February survey reveals 71% of business owners were not aware that by October of 2015, Visa and MasterCard will hold the merchant responsible for credit card fraud if they do not have an EMV compliant terminal.
Barry McCarthy
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Barry McCarthy, President of First Data’s U.S. Financial Services.
FDC Management
First Data announced two promotions and two new hires to its senior leadership team. Among the promotions: Barry McCarthy to lead four strategic businesses including the STAR Network.
Apple Pay Players
The payments industry and retail industry have chimed in with their excitement with the new Apple Pay mobile payments. Apple Pay will work with the newly announced iPhone 6, iPhone Plus and Apple Watch as well as the iPhone 5, iPhone 5c and iPhone 5s.
Citi Apple Pay
Citi cardmembers will have another way to pay with their Citi card at their fingertips with Apple Pay. Citi cardmembers will have the option to pay with their eligible Citi credit or debit card using their iPhone 6 and iPhone 6 Plus. Whether they are buying in stores or online from merchants in apps, payment happens in a single touch and Citi cardmembers will soon have another option to make purchases easily. In October, Citi will be introducing to U.S. credit and debit cardmembers the ability to add their eligible Citi card to Apple Pay, which will transform mobile payments, creating an easy way to make purchases.
Citi Wallet Announces Dynamic Changes
Citi cardmembers now have a quicker and simpler way to make online purchases with the new Citi Wallet. Citi cardmembers now no longer have to enter their credit card, billing and shipping information when making purchases at thousands of merchants. Citi Wallet is available to all Citi U.S. consumer credit cardmembers. It’s easy to get started by registering your Citi credit card at www.citi.com/citiwallet using the same login credentials used to manage the Citi account online. Citi Wallet can be used to make purchases online wherever MasterCard’s MasterPass is accepted, including thousands of participating merchants like FTD.com, Gilt, MLB.com, Rakuten.com, LivingSocial and more.
First Data and Union Bank Ink Debit Processing Partnership
First Data and Union Bank commercial bank providing a broad mix of financial services announced the companies finalized a multi-year agreement for debit processing, ATM driving, and card fulfillment output services. First Data will provide the efficiency, scale and functionality required for the $107.2 billion bank and its nearly one million cardholders while the bank continues to manage its own portfolio.
Bank of the West renews First Data contract
First Data will continue to provide debit processing, ATM driving and network services through its card processing platform and Star Network to Bank of the West, an FDIC-insured bank serving customers for more than 135 years. This renewed five-year agreement will also expand the relationship. First Data has provided debit processing and network services to the bank since 1996, and has driven its ATMs since 2008. With this expanded agreement, First Data will also provide credit processing.
First Data and MasterCard Partner to Advance Debit EMV
First Data and MasterCard announced an agreement in which First Data’s STAR® Network will participate in MasterCard’s common U.S. Debit EMV solution. This agreement provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S. EMV/ chip cards better protect account information from fraud because they have dynamic data, rather than the static data stored in the magnetic stripe. By working together, MasterCard and First Data will deliver enhanced choices in how debit card issuers identify and apply multiple network relationships to ensure Regulation II compliance in a cost-effective way. Merchants and acquirers will continue to route transactions as they prefer, without costly host systems reprograming.
Chase Liquid to Adopt New Disclosure Box
Chase today unveiled a new simple and clear disclosure form for its Chase Liquid® prepaid card. Chase is the first prepaid provider to adopt a new model disclosure box released today by Pew Charitable Trusts. The new disclosure form allows customers to plainly see a description of fees and when deposits are available in a simple, easy to read format. The new prepaid disclosure form builds on Pew’s success in creating a model simple disclosure form for checking accounts. In December 2011, Chase worked with Pew to develop a revised summary guide for Chase Total Checking that made its terms and conditions easier to understand for consumers.