Protegrity, a leading provider of end-to-end data security solutions, announced Protegrity Vaultless Tokenization for the Payments Industry, the first and only offering that enables processors and gateways to cost-effectively provide tokenization services across their entire client base. Protegrity now supports the largest companies in the payments industry with a lightweight tokenization solution that can scale…
Bankers’ Bank has signed on with Aptys Solutions payments network provider to use the company’s image exchange and “Active Archive” modules within “PayLogics” common platform, supporting all aspects of payment processing. The platform supports image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. Bankers’ Bank is utilizing PayLOGICS’ image exchange and “Active Archive” components to leverage access to enterprise-wide payments data and analytics, which was selected based on its unified payments technology.
Bankers’ Bank has signed on with Aptys Solutions payments network for image exchange and Active Archive modules within “PayLOGICS” platform to support all aspects of payment processing. The “PayLOGICS” platform supports image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. Bankers’ Bank is implementing the “PayLOGICS” image exchange and Active Archive components to leverage access to enterprise-wide payments data and analytics. Aptys Solutions was selected for its unified payments technology that successfully bridges legacy and emerging payments, as well as its strong commitment to its customers. Aptys Solutions streamlines payment systems, allowing financial institutions to make informed decisions through the payment analytics module and eliminating the need for multiple vendors.
Bridge Community Bank signed on with Aptys Solutions payments network provider to implement the “PayLOGIX” system. The common platform supports payment processing image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. The image exchange, ACH, and least cost routing components of “PayLOGIX” will allow Bridge Community Bank to participate in the NACHA-initiated Deposited Check Truncation (DCT) Pilot launching in August to identify and quantify cost savings for both originating and receiving financial institutions, as well as the ability of the ACH Network infrastructure to support these truncated items.
TX-based payment provider Aptys Solutions has launched the PayHUB
payment processing platform created to support support all aspects of
payment processing, including image exchange, ACH processing, wire
processing, Federal Reserve
messages, in-network exchange (INEX) payment processing and mobile
payments. PayHUB is a multi-client, multi-tenant solution geared for rapid
deployment that creates, aggregates, processes and delivers all
financial institution payments. PayHUB operates in a highly secure
environment, helping mitigate fraud.
By streamlining the payment system, Aptys Solutions enables financial
institutions to make informed decisions through the payment analytics
Payment service provider Bling Nation has appointed Luke Helms,
vice-chairman at BoA, to serve on the Board of Directors.
Helms began his career with San Francisco, Calif.-based Bank of
California in 1968. Prior to his advisory role with
Bling Nation, Helms served as vice chairman of Cleveland, Ohio-based
KeyBank and vice chairman of Charlotte, N.C.-based Bank of America Corp.
and Bank of America NT&SA. In 1993, Helms became vice-chairman of Bank
of America with responsibilities that included retail banking in
California and all affiliate banks in 10 Western states.
Through its Community Payments Service, Bling Nation enables financial
institutions to more profitably and securely support payments between
their local demand deposit account (DDA) customers and their merchant
customers by bypassing the current global debit payment model and
replacing it with an efficient, cost-effective and local payment network.
Alternative payment provider SafPay has released “Virtucard”, a
cash-based virtual mall card that gives online merchants a more secure
Consumers fund their free Virtucard account for up to $1,000.00 directly
through their bankâs online bill payment system as if they were paying a
bill. The bankâs trusted third-party processors handle the transactions,
which means neither SafPay nor the merchant have access to the
consumerâs checking account information. As a result, merchants are free
from the added risk of handling sensitive financial information and the
consumerâs financial assets are not at risk when they shop online using
their Virtucard. Virtucard merchants are not subject to the extensive and often
severe compliance measures, such as PCI, that face online credit card
merchants because consumer financial information is not at risk. The
lack of additional transaction fees also means that merchants can now
accept micro-payments that have been previously too cost-prohibitive to
accept with a credit card merchant account.
Access management provider Rohati Systems has appointed Gretchen McCoy,
previous with Visa, to its Strategic Advisory Board. She will advise
the company as it continues to evolve its solutions to enable
enterprises to quickly and cost-effectively keep pace with the Payment
Card Industry Data Security Standards (PCI DSS). McCoy was SVP of the
Technology Management Division for Visa
International and took a lead role in designing and
implementing IT solutions for Visa’s strategic global business. Prior to
leaving Visa, McCoy led Visa’s Global Technical Oversight Committee,
managing all aspects of the planning, prioritization, project oversight and
portfolio management for over 100 global IT initiatives representing $140+
million in IT investment spend annually.
VA-based Javien Digital Payment Solutions has announced its new micropayment technology that helps merchants and retailers meet Visa’s online micropayment card transactions guidelines, providing an auditable, provable method of managing online micropayment aggregations. The “Micropay” solution is designed to allow merchants aggregate multiple purchases made by the same consumer to minimize payment processing fees without stepping outside the Visa guidelines. The Visa guidelines restricts Internet merchants to aggregating multiple transactions made by a single consumer to no more than $15, a maximum time period of three calendar days and require the authorization at the start of each aggregation session, the details of which must be disclosed to consumer.
A new survey has found that 45% of tenants and 52% of landlords of those using checks would prefer to use a credit card or an e-check in place of paper checks. The survey by Investment Instruments discovered that 75% of tenants and 71% of landlords currently use bank checks. Additional findings show 71% of the landlords have less than 10 apartment units, 65% rely on property revenue as only a fraction of their income, around 25% rely solely on property revenue as their only income and 80% of tenants responded as having a decent landlord relationship, with 77% claiming problems are dealt with in a timely manner.
With the final regulations of “Section 326” of the “USA PATRIOT Act” now in effect, and with full compliance required by October 1st, a number of firms have jumped on the bandwagon. Yesterday, Certegy announced the launch of “Patriot Guard” which provides financial institutions of all sizes with an all-inclusive framework for developing and administering a CIP, documentation and recordkeeping requirements, data storage and retrieval. VA-based Vastera also announced yesterday that its “GTM” solutions will help financial companies to monitor, interpret and respond to the requirements of the “Patriot Act.” This morning, Experian announced its offering of customized fraud solutions programs that will assess companies’ vulnerabilities, and help them comply with the new regulations.
Wincor Nixdorf has signed a deal to resell POWERVAR’s “Ground Guard” power conditioning products to protect POS systems in hospitality and foodservice establishments. POWERVAR’s Ground Guard power conditioners eliminate the need for dedicated electrical circuits and isolated ground wiring, through a “ground conditioning” feature combined with standard power conditioning elements. This assures a steady supply of clean power that allows mission-critical POS appliances to operate efficiently.