The Payments Council (15 July 2014) announces the appointment of three new independent directors to its Board. Sarah Chambers, Christine Farnish CBE and Robert Lerwill bring a wide range of experience in consumer policy, financial services and regulation to the Board. They join Clare Spottiswoode CBE as one of the Board’s four independent directors. Sarah is an expert in regulation, competition and consumer policy. Christine has wide experience of financial services, public policy and regulation. Robert Lerwill is a chartered accountant. The Payments Council Board is made up of 15 voting directors, a voting independent chairman and an observer from the Bank of England. In addition to the independents, 11 directors are appointed by the industry to represent a cross section of the Payments Council membership.
MasterCard announced the New Zealand launch of its ground-breaking digital payments technology MasterPass this week. MasterPass is the digital platform from MasterCard that gives shoppers a seamless, secure and speedy checkout – regardless of where they may be and what device they may be using. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites.
Mobile banking is now allowing more banks to drive out costs and deepen customer relationships, according to Bain & Company’s annual “Customer Loyalty in Retail Banking Report (2012 global edition).” The report finds that Asia has the highest mobile banking penetration while survey respondents in the U.S. reported the highest frequency, averaging 4.9 mobile transactions in the previous three months. Meanwhile, 64% of mobile banking users in the U.S. say that the future ability to use their smartphones or tablets to check account balances would be highly valued and 41% say using their smart device for remote deposit capture (through a digital image of an endorsed check) would be highly valued. U.S. mobile users report greater loyalty.
ACI Worldwide (ACIW), a leading international provider of payment systems, announced a global partnership with Spectrum Message Services Pty Ltd, to deliver ACI mobile alerting powered by Spectrum’s MoneyGuard product. The combined solution will add a critical layer of protection to financial institutions’ fraud systems by using the flexibility and convenience of interactive SMS messages to identify and stop fraud quickly. Organizations utilizing ACI mobile alerting will be able to identify suspicious transactions in near real- time and send an SMS message to the customer containing details of the transaction such as location and amount. If that transaction is fraudulent the customer can respond with a simple ‘BLOCK’ message and the card can be frozen. This has the potential to stop fraud much sooner than current methods available while improving customer satisfaction by preventing cards from being blocked incorrectly by banks attempting to stop fraud themselves. The interactive nature of the system will help to improve customer service.
The European Payments Council (EPC), representing the European banking industry in relation to payments, launched the annual public consultation on possible modifications to the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Scheme Rulebooks. The EPC encourages all Single Euro Payments Area (SEPA) stakeholders to provide feedback by 13 August 2012. Updated versions of…
Dynamics next-generation payment devices launched its “ePlate” payment device that gives consumers the ability to change the experience they earn with each purchase by pressing different buttons on the device. The company also unveiled a large and growing experience™ application ecosystem with a developer toolkit that allows developers, such as charities, brands, retailers, and gaming companies, to create unique, branded experiences for ePlate™ consumers. The “ePlate” device itself has two buttons – each button associated with a different experience. If the consumer presses the “Experience 1” button to select one Experience Provider application and presses the “Experience 2” button to select a different experience. At any time, a user can use the Experience Manager™ software, available via a user’s phone or online banking website, to change the experiences associated with each button. The “ePlate” m-payment device is a paper-thin, flexible computing platform in a payment card form factor that includes the Electronic Stripe, which can be read at any existing POS magnetic stripe reader.
The European Payments Council (EPC), representing the European banking industry in relation to payments, on 22 March 2012 elected Javier Santamaría as Chair and Günther Gall as Vice Chair. Mr Santamaría and Mr Gall will take office in June 2012. They will succeed current EPC Chair Gerard Hartsink and Vice Chair Claude Brun whose mandates…
Pulse Electronics Corporation electronic components and STMicroelectronics semiconductor manufacturers partnered on research testing the accuracy of current sensing in metering applications. The application note, “Current sensing in metering applications using a Pulse Electronics current sensor and ST metering devices,” having tested STMicroelectronics’ STPMxx metering devices using several different current sensors, found exceptional linearity over a wide current range. When used with STPMxx ICs, the accuracy of the meter is boosted, meeting the Class 0.2 S accuracy limits defined by the IEC 62053-22 meter standard for currents from 0.1 A to 200 A.
Edenred national commuter benefit program has made available its contactless Commuter Check Prepaid MasterCard card with MasterCard “PayPass” contactless payment technology. This lets commuters pay for qualified public transportation expenses through their employer sponsored pre-tax benefit program with a tap. The card can be used as its own fare card within transit environments already equipped with contactless payment readers, such as subway turnstiles and bus fare collection boxes. Riders using the new MasterCard PayPass-enabled card can choose from several different fare options per availability from the transit agency such as, a “pre-fund”, “pay-as-you-go”, time-based fares (one day, weekly, bi-weekly, or monthly passes) as well as discounted fares for senior citizens, disabled and student riders.
The European Payments Council (EPC) and the Cards Stakeholders Group released the latest version of the Sepa Cards Standardisation Volume – Book of Requirements for public consultation. The EPC, representing the European banking industry in relation to payments, carries out a card standardisation programme designed to achieve a consistent customer experience, high levels of security and optimum process efficiency throughout the SEPA cards market. In 2009, the EPC promoted the creation of the Cards Stakeholders Group together with representatives of five sectors also active in the cards domain including retailers, vendors – such as manufacturer of card payment devices and related IT systems – processors, card schemes and banks. The Cards Stakeholders Group develops the SEPA Cards Standardisation Volume.
Galitt and test laboratories Applus+ LGAI Technological Center and RFI Global have achieved GlobalPlatform qualified status for their respective offerings, which can test a card product’s compliance to GlobalPlatform Card Specification v2.2 UICC Configuration for the mobile services sector. The launch of the GlobalPlatform Qualified Compliance Program is timed to support the high growth of the mobile services market, and is central to satisfying the industry’s need for an interoperable and flexible ecosystem for secure chip application deployment and management. GlobalPlatform will soon also release the quality stamp for Applus+ LGAI Technological Center laboratory. Further test tool suppliers and laboratories are in the process of being reviewed and undergoing GlobalPlatform certification.
Gerard R. (Jerry) Host has been appointed to serve as president and chief executive officer of both Trustmark and Trustmark National Bank. Having served as president and COO of Trustmark National Bank since 2008 and having been in the Trustmark family over 26 years, Host has served as president and COO of the General Banking, Consumer Services and Financial Services divisions, as well as chief financial officer. Mr. Host is a director of the New Orleans Branch Board of the Federal Reserve Bank of Atlanta and the Mississippi Bankers Association. He is past Treasurer and serves on the Board of Governors and Executive Committee for the Mississippi Economic Council and is past Chairman of the Board for Pulse-EFT Association, now a subsidiary of Discover Financial Services.