In the first three days’ operation of the new “Faster Payments Service,” launched on May 27th, more than 315,000 payments with a value of GBP 200 million were processed. The “Faster Payments Service” enables banks to process one-off payments made over the Internet or by phone within a couple of hours. Customers are also able to make Internet and phone payments outside of banking hours even at the weekend. The service will also speed up standing order payments, enabling them to be cleared on the day they are sent on bank working days. Standing orders will begin processing through the “Faster Payments Service” on June 6th. Any payment that is not processed through the new service will continue to be made using the existing Bacs three-day service. There is a maximum limit placed on the value of each payment sent through the new service, with the maximum value for Internet and phone payments set at GBP 10,000 and standing orders to GBP 100,000.
In the first three days’ operation of the new “Faster Payments
Service,” launched on May 27th, more than 315,000 payments with a value of GBP 200 million were processed. The “Faster Payments Service” enables banks to process one-off payments made over the Internet or by phone within a couple of hours. Customers are also able to make Internet and phone payments outside of banking hours even at the weekend. The service will also speed up standing order payments, enabling them to be cleared on the day they are sent on bank working days. Standing orders will start to be processed through the “Faster Payments Service” on June 6th.
Any payment that is not processed through the new service will continue to be made using the existing Bacs three-day service. There is a maximum limit placed on the value of each payment sent through the new service, with the maximum value for Internet and phone payments set at GBP 10,000 and standing orders to GBP 100,000.
Infusionsoft’s small business marketing automation web-based software has been designated as PCI Data Security Standard (DSS) Compliant, ensuring small businesses protection from identify theft. The PCI DSS was created by credit card companies and is considered the highest industry level in security of customer data with its implementation of 12 requirements for safeguarding payment card data. With Infusionsoft processing millions of online transactions for its customers using marketing automation software, it is imperative the organization implements such secure solutions. Research demonstrates, however, PCI compliance is estimated at 39% for Visa USA level-one merchants and 33% for Visa USA level-two merchants.
Assisted living provider Vigilan has added PaySimple to streamline billing services for its assisted living, long-term care, and dementia care communities. PaySimple 2.0 enables communities to create and customize recurring payment and disbursement schedules, resident invoices and invoice schedules, one-time transactions, and multiple customer profiles all at once-saving time and effort in one month as well as proceeding months. PaySimple securely stores credit card or bank account information so residents or their families can manually authorize payments personally each month or approve a payment schedule-including setting automatic payments to coincide with Social Security payments.
Telecom Italia Mobile has teamed with Gemalto for the
deployment of a NFC program in Trento, Italy, the first of its kind in
the country. Providing TIM with transport applications embedded in the
SIM cards, the Gemalto platform allows TIM customers to use their mobile
phone as a access device to take public transportation with
mobile contactless deployment. Gemalto has already conducted several programs on various NFC transport infrastructures. In Western Europe for example, in 2005, Gemalto joined together with Bouygues Telecom and RATP to launch the first SIM-based contactless system in Paris. In 2006, Gemalto working also with Bouygues Telecom, and with regional operator Transdev, delivered a contactless program covering Grenoble and its region, including smart posters so that end users can download maps on their mobiles.
Dynamic Card Solutions has released “CardWizard 4.0” software application that creates flexible instant card issuance for debit, ATM, credit and prepaid cards. Highlights of CardWizard 4.0 includes complete CHIP personalization with PayPass/payWave contactless technology that allows financial institutions the benefit of offering ease and convenience to consumers. The system will be able to instantly issue cards with both contactless chips and magnetic stripes allowing them to remain usable with a variety of existing merchants’ payment systems and custom background selection that allows further customization capabilities that produce a fully personalized, thermally printed, unembossed card in real-time for cardholders which includes immediate transmission of all card personalization information such as the cardholder’s name, account number, expiration date, CVV or CVC 2 security codes along with front and back card images. Other features include expanded camera support for photo capture and key injection security and support for contactless cards, a new rewritten Batch Input component and improved font capabilities for unembossed cards.
A new survey conducted by TransUnion’s TrueCredit reveals that 33% of respondents will not go on vacation this summer while 28% who do will spend less than last year. The cost of fuel for 72% of respondents was cited as a reason while 35% are concerned about credit card debt. Additionally, Americans are taking a long-term view of their finances. Nearly half (49%)say the statement, “I’m a long hauler. I devise and adhere to long-term plans for my money” best represents their personal financial philosophy, while 25% agree with the statement, “I’m a baby stepper. I set short-term plans and stick to them.” Zogby International was commissioned by TransUnion’s TrueCredit.com to conduct an online survey of 8,683 adults.
Phone platform provider Ifbyphone has introduced the “Verify-Me-Now” fraud prevention solution for ISPs and e-commerce sites to reduce fraud. “Verify-Me-Now” turns risk into a security feature with a simple process that validates that the person providing a credit card, banking information, or other form of payment is who they say they are by enabling ISPs to incorporate the hosted Verify-Me-Now application into their existing process that customers use to sign up for a Web hosting account or any other service. A telephone number is then collected as part of each registration or purchase transaction and a PIN of up to ten digits is displayed on the customer’s screen. The Verify-Me-Now service is then invoked, either transparently or via a user-pressed button, with an easy-to-use API that is compatible with most Web-programming environments. The Ifbyphone server instantly places a call to the customer at the number entered in step one and then asks the customer to enter the previously displayed PIN using their telephone keypad. Depending on whether the PIN entered matches the one provided in step two, the API returns a success or failure message.
Intersections has made a major enhancement to its “IDENTITY GUARD Total Protection” service by adding a feature that provides secure storage and access to personal records and financial accounts via cell phone or PDA making it convenient to monitor all of your financial records any time. “MOBILE LOCKBOX” uses easy-to-use software allowing the user to store and access virtually any kind of personal information anytime, anywhere via computer, cell phone or PDA. “IDENTITY GUARD Total Protection” helps consumers protect their credit from identity theft, and also provides 360-degree protection on the Internet, on PCs, or when traveling.
CA-based Yodlee and payment solution provider Postilion have announced a partnership to integrate Yodlee PersonalFinance and Yodlee DirectPay into Postilion’s Retail and Business Internet Banking solutions. Yodlee DirectPay is Yodlee’s proprietary card-based payment network and its 300 DirectPay billers represent over 40 percent of major U.S. billers by volume which enables consumers an opportunity to pay nearly half of their monthly bills with a card. For consumers, it means the flexibility for later payments, the ability to earn rewards points, and, in most cases, same-day payment credit. For financial institutions that issue credit or debit cards, DirectPay opens up significant new sources of interchange revenue driven by bill pay. The Postilion self-service solutions, including Retail and Business Internet Banking, Voice Banking, ATM Driving, Card Management, and Mobile, are packaged and developed to run on a single platform, easily configurable and administered through a single management portal to meet the varying needs of community banks and credit unions.
Discover Card has begun running new advertisements nationwide in print, online and broadcast outlets through early June. The ads are an extension of the “Brighter” campaign, but also address a timely subject matter for consumers. The ads focus on the newly-launched “Paydown Planner,” as well as a mission to help people spend smarter, manage debt better and save more so they achieve a brighter financial future. The easy-to-use tool gives cardholders the personal information they need to pay down their balances by finding the right payment options to reach their financial goals. Users of “Paydown Planner” start with a monthly payment and see the approximate time period it will take them to reach their pay down goal or start with a target date and see an estimate of how much they will need to pay each month to reach that goal. (CF Library 2/28/08)
AZ-based Vana Blue payment provider has signed agreements with Net Auction Plus auction site to provide online, flexible payment services. The newly developed auction site has over 200 power sellers from eBay, will be available to consumers by May of 2008 and will be deploying Vana Blue’s “smsComet” payment system. Driven by its targeted customer base, Net Auction Plus provides users with low cost, multi-stage/multi-product suite of products/services under the umbrella of the TMS Corporation with the “The Compass Pre Paid Card”, “The SMS Comet Mobile Wallet/Card System” and “The eWallet Plus On-line Payment Portal.” Additionally, to promote the new website, the first 5,000 shoppers will be eligible to receive a free “smsComet” card.