BillingTree® announced it has once again successfully passed the PCI-DSS audit, this year audited under the new PCI 3.0 standards. The new PCI-DSS is designed with an increased focus on operational standards, security and training to provide greater clarity, flexibility and ease of implementation for vendors. The latest announcement is a continuation of BillingTree’s commitment to remaining at the leading-edge of industry compliance.
Leading retailer Edgars Consolidated Stores has teamed with
Standard Bank to launch the first no annual fee general purpose
cobranded credit card in the country. The new “Edgars MasterCard” will
be offered to low risk store credit card holders. Edcon currently has
more than 3.8 million private label credit card customers. The Company
estimates that as many as 86% may qualify for the new card. Edcon says
its internal research shows that of the existing Edcon account holders,
approximately 68% do not currently own a bank credit card. The new
credit cards will be either Edgars or Jet branded. Qualifying Edgars
customers will receive their credit card offers from August and Jet customers will receive theirs later in the year.
Retailer EDCON is deploying VeriFone “SC 5000” programmable POS PINpads nationwide in an initial deal worth $1.7 million. Prism Holdings and First National Bank have implemented the sophisticated programmable POS technology into Edgars, CNA and United Retail (Jet, Sales House, Cuthberts and Smileys) stores throughout South Africa.
Apart from supplying the initial 700 “SC 5000” PINpads, Prism has developed an integrated payment application for the terminals into Edcon’s existing POS system. Prism Holdings transaction switching entity, Prism TranSwitch Services, provides the links to the banking sector and to other systems POS infrastructure. With Edcon as a client, PTSS now switches card payment and other value-added service transactions to over 600 stores.
PaySys International, Inc., the company which develops the globally recognized financial management system software, VisionPLUS, recently converted some 5.3 million accounts of Edgars Stores Limited, the leading department store chain in South Africa.
The conversion into a single VisionPLUS portfolio means customers gain great payment plan flexibility while Edgars increases it’s ability to control collections and fraud. Edgars, with its head office in Johannesburg, is comprised of several South African chain stores: Edgars, Sales House, Jet and the Shoe Corporation.
The conversion involved data merging from three unique in-house software databases into one portfolio. “With some 700 stores, a portfolio of some 5.3 million accounts, including 3.5-million active customers and more than a million dormant accounts, the VisionPLUS system will pay for itself easily over three years,” said Robert Leathers, group credit executive.
“This is one of the largest consumer credit systems and operations in the country. We want to leverage the new functionality to maximize our profitability,” he added.
“The VisionPLUS system enables account holders to operate different payment plans from the same account,” he explained. “Certain credit card holders can charge amounts on an interest free or interest bearing plan,” he added.
A key feature of the system that attracted VisionPLUS to Edgars, was its ability to control collections and fraud. Leathers pointed out that the PaySys VisionPLUS system offers customer managed credit limits, also helping to prevent the use of stolen cards. The group credit division are alerted when a sudden activity of purchases take place. New control systems are also being introduced to minimize check fraud. “If we can reduce the cost of credit, we pass the benefit on to our customers,” Leathers said.
To assure the success of the project, a team was established strictly for this project, including a PaySys employee who transferred to South Africa to work with Edgars. “We put together a team to work on this conversion for we were determined to provide our top experts and leaders to this project. Our employees dedicated themselves to the processes needed for VisionPLUS to run successfully at Edgars,” said Stephen B. Grubb, president and CEO of PaySys International, Inc. “Our relationship with Edgars enhances our goal to be the global leader in credit and receivable management solutions,” he pointed out.
PaySys is known globally as the market leader in credit card management software, with installations running in more than 30 countries on six continents. More banks, finance companies and retailers use PaySys software solutions and more credit card accounts are processed on PaySys systems each day than any other card solution.
Headquartered in Atlanta, Ga., PaySys has more than 400 employees and operates offices and support centers in Orlando, Fla.; Columbus, Ohio; Melbourne, Australia; Dublin, Ireland; Singapore; Costa Rica and Johannesburg, South Africa.
PaySys International, Inc., the global leader in credit card processing software, will attend Computer Faire Durban ’99, in Durban, South Africa.
The fair provides a forum for IT manufacturers, distributors, dealers and service providers. It is expected to attract some 15,000 people.
PaySys’ South African office, located in Johannesburg, has been in operation close to a year. “We are very pleased with the response we have thus far received in South Africa,” said Roy Shellhammer, PaySys Vice President of Sales. “We feel our attendance at the Durban Computer Faire will allow more people to see our premier product, VisionPLUS. In addition, we are demonstrating our newest software, Desktop and Fraud Dossier, which brings the latest technology available to our customers,” he added.
VisionPLUS is considered the leader in credit card management software. Currently businesses using VisionPLUS in South Africa include Truworths Ltd., Woolworths Ltd., Topics, Edgars Stores Limited, and Foschini.
John Hopkins, Managing Director of the South African PaySys office, pointed out that although the PaySys office there is new, its product certainly is not. “Businesses know our name and products and are interested in learning more about VisionPLUS and PaySys,” he said.
PaySys International is a pioneer in credit card management software, and has installations running in more than 30 countries on six continents. More banks, finance companies and retailers use PaySys software solutions and more credit card accounts are processed on PaySys systems each day than any other card solution. Headquartered in Atlanta, Ga., PaySys has more than 400 employees and operates offices and support centers in Orlando, Fla.; Columbus, Ohio; Melbourne, Australia; Dublin, Ireland; Singapore; Costa Rica and Johannesburg.