One of the 10 largest independent sales organizations (ISOs) of First Data Merchant Services has earned a new tokenization patent.
Princeton Payment Solutions (PPS) announced that Info Security Products Guide, the industry’s leading information security research and advisory guide, has named its “PANPAD” a winner of the 2012 Global Excellence Awards in the New Product Launch Category. The security industry celebrated its 8th Annual 2012 Global Excellence Awards in San Francisco by honoring excellence in every facet of the industry. The Princeton Payment Solutions PANPAD allows card data to be encrypted at the point of entry, effectively removing all order entry and research terminals from PCI scope. Many current solutions use tokenization of payment data to segregate most of your IT infrastructure from PCI scope, but order entry terminals have remained a long-standing concern. The PCI certified PANPAD cloaks payment card information at the terminal.
Pennsylvania Attorney General Tom Corbett announced multi-state settlements totaling $14.5 million with Chase Bank USA, Chase Home Finance and Trilegiant resolving allegations that the companies deceived consumers into paying for membership programs that claimed to offer discounts on automotive service, home repair, shopping and other consumer services. Corbett said that Chase Bank and Trilegiant were accused of offering “free” or “no obligation” trial memberships to various discount programs without adequately informing consumers that they would automatically be charged various membership fees if they did not cancel within a certain period of time. Corbett said that between January 2003 and October 2005, 319,532 Pennsylvania consumers cashed checks that were included in offers sent by Trilegiant. Some consumers may have unknowingly enrolled in memberships for multiple clubs.