Fidesic and Payment Partners have signed an agreement to integrate the Payment Partners “En-point Direct” service into Fidesic’s “EIP” solutions. The newly expanded global service will be available in Q3 2002 and will provide Fidesic customers with the ability to send invoices to overseas customers and receive US Dollar payments from payers and businesses located in nineteen of the world’s top banking centers.
MasterCard has entered the payroll card market with the launch this week of MasterCard Workplace Solutions. VISA introduced its payroll card program one year ago. The MasterCard Payroll Card integrates with current payroll processing systems managed by third-parties. Several MasterCard members are offering payroll cards using the MasterCard brand. These financial institutions include ABN AMRO, BANKFIRST, Citibank, Comerica, First Banks, Inc., J.P. Morgan Chase, and KeyBank. MasterCard says market research indicate that an estimated 15 million U.S. households, including approximately 7 million young adults between the ages of 16 to 19 receiving their first paycheck, have no banking relationships. MasterCard Workplace Solutions will also include additional programs designed to provide an ideal alternative to disbursements for employee incentives, meeting planning expenses, and travel per diems by interfacing with current company systems. The availability of MasterCard Workplace Solutions in each region, including Europe, Asia-Pacific and Latin America, is planned for year end.
Toronto-based NRT Technology Corporation has become a certified VAR for @pos’ POS terminals. NRT will implement @pos’ signature capture products, including iPOS 3100, TX.C, and iPOS TC terminals, with its Players Signature Capture System. The turnkey solution allows casinos to be compliant with Canadian government legislation regarding the storage of personal information such as gaming history. Patrons desiring to join a casino’s loyalty program must acknowledge a document that is electronically presented to them. The player’s card is swiped through an @pos terminal and the document is presented. If the patron agrees with the document, they sign on the terminal’s signature capture pad. The digital signature is stored with the player’s card information in the casino database as a cost-effective compliance solution.
Montreal-based SureFire Commerce has partnered with ShopSite, a developer of shopping cart software, to process transactions for ShopSite’s online
merchants. ShopSite offers shopping cart software to small and medium-sized businesses through hosting providers such as Bizland, Verio, Lexiconn,
YourHost and InterLand. The partnership enables ShopSite’s merchants to accept VISA, MasterCard, and electronic checks online. SureFire Commerce
processes credit cards payments for Internet, mail-order/telephone, and bill payment transactions, as well as processing checks online and by phone.
VeriFone has certified three scanners from Intermec Technologies Corp. for use with the VeriFone Ruby SuperSystem including the MaxiScan 2220 and 2210, and the ScanPlus 1800 Vista. The VeriFone Ruby SuperSystem combines card processing, fuel dispensing, dispenser card reader control, and ECR functions for petroleum/convenience-store operations. The Ruby software provides universality as it interfaces with a variety of peripherals including more than 50 back-office software systems and 30 major oil and generic hosts.
London-based Mosaic Software launched PostCard, a complete debit card management and issuer services system. PostCard integrates with the Postilion Realtime Framework to enable processors to service any number of issuers, each with potentially very different requirements. With PostCard, operators on card issuers’ premises can define new cards, update existing cards, and delete existing cards. The product also runs a card production staging process on a regular basis, allowing files to be built for the production of payment cards. The files can be used by the PostCard owner or by an independent card production company for the encoding of magnetic-stripe cards or personalization of EMV smart cards.
Mosaic Software launched PostCard, a complete debit card management and issuer services system. PostCard integrates with the Postilion Realtime Framework to enable processors to service any number of issuers, each with potentially very different requirements. With PostCard, operators on card issuers’ premises can define new cards, update existing cards and delete existing cards. The product also runs a card production staging process on a regular basis, allowing files to be built for the production of payment cards. The files can be used by the PostCard owner or by an independent card production company for the encoding of magnetic-stripe cards or personalization of EMV smart cards.
GA-based Delos Payment Systems, Inc., a spin-off of PaySys, changed its name to CoreCard Software, Inc. CoreCard is comprised primarily of former PaySys Labs software engineers and has been operating under the interim name, Delos Payment Systems. It has spent the last 12 months building CoreIssuing, the first real-time card issuing system with multi-lingual, multi-currency capabilities. It is the first application to leverage the company’s patent-pending real-time financial transaction processing platform, CoreEngine. The company will make CoreIssuing available to financial institutions this summer. CoreCard employs 50 engineers.
eONE Global and Sprint confirmed this week they have joint plans to build a mobile payments network in the USA to enable consumers to make purchases and payments with their wireless devices. eONE Global is owned by First Data and iFormation Group, a company founded by The Boston Consulting Group, General Atlantic Partners, and The Goldman Sachs Group. Sprint, which will be the founding member of a standards and marketing entity for the mobile payments network, and eONE Global will actively seek other U.S. operators to join them in developing this mobile payments network. The development follows an announcement by Europe’s largest mobile operators, which outlined similar intentions to launch an interoperable mobile payments platform in Europe. eONE Global’s subsidiary, Encorus Technologies Limited, will supply its PaymentWorks technology for the open standard platform including multiple channel access, authentication, routing, and settlement of transactions. The solution will provide for multiple payment options, including traditional credit and debit cards. In addition, smaller purchases may be billed direct to a customer’s telephone bill, to a stored value account presented by the operators, or to other new micro-payment alternatives.
Trintech Group Plc, a global provider of
secure payment infrastructure solutions, announced at Retail Solutions
2002 the launch of PayWare SmartPIN, a complete Chip and PIN solution that
cost-effectively manages the imminent migration to chip-based credit and debit
PayWare SmartPIN is aimed at merchants and retailers that have immediate
requirements for a secure and standards-compliant Chip and PIN solution that
can integrate seamlessly with new or existing electronic point-of-sale (EPoS)
infrastructure. The solution includes Trintech’s proven PINPad hardware, EMV
application and application programming interface (API) that enables chip
acceptance with PIN authentication in any EPoS system.
PayWare SmartPIN is designed to tackle the growing fraud problem in
markets such as the UK. Recent statistics suggest that card fraud costs the
industry 400 million pounds sterling annually and is rising at 55 percent each
year (1). With counterfeit and stolen cards accounting for the majority of
all fraud, magnetic stripe technology with signature authentication has been
identified as a primary weakness of the current system. PayWare SmartPIN
allows merchants and acquirers to benefit from increased security, since chip
cards are extremely difficult to counterfeit and PIN verification is
inherently more secure than a signature. The banking industry has mandated
that, by 1 January 2005, any retailer that does not accept chip cards
authenticated by PIN will be fully liable for all card fraud.
“Chip and PIN offers retailers and merchants, and the financial community
a solution to the escalating fraud problem,” said Eamon Keating, General
Manager of Trintech’s eMerchant Division. “PayWare SmartPIN addresses the
issue of fraud without requiring significant changes to a retailer’s EPoS
environment. In addition, we have harnessed market-proven technology, such as
PayWare PINPad, to deliver one of the most market-ready and cost-effective
solutions in the industry.”
About PayWare SmartPIN
PayWare SmartPIN is a secure, standards-compliant, end-to-end Chip and PIN
solution that delivers significant benefits to merchants and retailers of all
sizes. The solution includes PayWare PINPad hardware, an EMV application and
application programming interface (API).
Trintech Launches PayWare Merchant Retail Edition,
Trintech Group Plc, a global provider of
secure payment infrastructure solutions, announced at Retail Solutions
2002 the launch of PayWare Merchant Retail Edition, a complete card processing
solution for retailers and merchants that reduces costs and dramatically cuts
PayWare Merchant Retail Edition is targeted at retailers and other
merchants who require integrated online card payment processing instead of
using stand-alone card processing terminals. The solution provides seamless
card processing integrated with the merchant’s electronic point-of-sale (EPoS)
system. The system has been carefully designed to reduce implementation time
and costs by enabling merchants and third party installation teams to easily
deploy and configure the solution by using an easy-to-use configuration
Certified by all of the UK’s leading acquiring banks, the solution is
designed to speed up transactions at the point-of-sale by performing rapid
online authorizations. This enables retailers to operate lower floor limits
for card transactions, thereby reducing the risk of fraud and the possibility
of improved merchant service charges. The speed of transaction allows
retailers to reduce queues and serve more customers.
By replacing stand-alone card payment terminals with an integrated
solution, retailers can avoid errors associated with keying data into two
systems, a common source of both operator fraud and customer dissatisfaction
in a retail environment. PayWare Merchant is also fully compliant with EMV
chip card acceptance with PIN authentication as a means of reducing fraud and
“We are providing retailers with a solution that is both easy to implement
and also provides features critical for point-of-sale merchants,” said
Eamon Keating, General Manager of Trintech’s eMerchant Division. “High on
this list is our support for chip and PIN which will become critical for
retailers in the coming months. We believe PayWare Merchant Retail Edition
will be an important enabling technology for merchants that want to reduce
costs, speed their time to market, boost profitability and improve customer
About PayWare Merchant Retail Edition
PayWare Merchant Retail Edition is Trintech’s latest generation payment
server that enables merchants to accept card payments and perform rapid online
payment authorization from any electronic point-of-sale (EPoS) system. It
also handles delivery of transactions for end-of-day settlement. The product
employs TCP/IP and serial messaging to ease the integration with a wide
variety of EPoS systems. A unique easy-to-configure installation wizard makes
PayWare Merchant Retail Edition easy to install and deploy.
Founded in 1987, Trintech is a leading provider of secure electronic
payment infrastructure solutions for card-based transactions for physical
world commerce, eCommerce and mobile commerce. The company offers a complete
range of payment software products for credit, debit, commercial and
procurement card applications, as well as being a world leader in the
deployment of payment solutions for Internet commerce that are fully SSL and
SET(TM) compliant. Trintech’s range of scalable open systems architecture
solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant
and financial institution requirements for physical payments and the emerging
world of electronic commerce.
Concord EFS announced Monday it has completed the acquisition of TX-based Core Data Resources and has entered into a strategic agreement to resell the CyberSource Small Business solution to its small and medium-sized clients and prospects. Core Data’s 35,000 ATMs doubles the number of off-premise ATMs processed by Concord. Concord currently drives more than 56,000 ATMs, about half of which are installed by retail ATM deployers. The combination of CyberSource and Concord offerings gives small and medium businesses needing to sell online the ability to securely and cost-effectively accept credit cards on their web sites using the same highly secure, reliable and scalable infrastructures employed by many top national retailers and businesses to accept electronic payments. The CyberSource solution handles authorizations, settlements, and credits and can be pre-integrated with many popular Internet storefront programs; or, easily integrated with other business applications, including most shopping cart software.
While smart cards used in telecommunications have floundered over the past year, the use of smart cards in the financial markets grew by 21% last year, driven by the country-wide projects that are replacing existing magnetic stripe bank cards with smart cards, such as the UK’s conversion to smart cards in 2001. Furthermore, the long-term prospects for smart ID cards are immense, in response to the events of Sept 11th. According to an annual study by SchlumbergerSema, year-on-year growth rates for the entire smart card industry last year fell from typical +20% levels to a flat line at just +3%. The SIM (subscriber identity module) smart card market experienced an unanticipated drop in 2001. The main reasons were low levels of handset renewals due to the perceived failure of WAP, the non-arrival of 2.5G technologies, near saturation of handsets in some countries, and the fact that many operators had overstocked on SIMs to meet growth predictions that did not occur. In combination with the general lack of confidence following events on September 11, the result was a decrease of the market of around 10%. For the wireless smart card sector, the growth outlook is now a modest 12% for 2002, moving upward to 20% in 2003. The key factor driving this growth curve is the arrival of higher bandwidth mobile network infrastructure, which is expected to mature and result in volume handset orders during 2003. Although the government-driven card application sector involves large volumes, SchlumbergerSema says it is still in its formative years. This makes it extremely sensitive to individual projects, and near-term growth forecast partially relies on an extension of existing projects, such as the massive French health card project, which moved from its roll-out to maintenance phase. From 2004 onward, however, overall market prospects start to become immense. Several countries are currently planning for national ID cards, with some projects expected to reach their roll-out stage during the next two years. Numerous other countries are beginning to consider options in this area, partly as a result of heightened security concerns stemming from the events on September 11. SchlumbergerSema predicts that smart cards in the banking industry will grow 25% this year and 22% in 2003.