Danish payment management company Pensio is undertaking a major relaunch and rebranding exercise and highlighting the evolution with a move to new offices in Copenhagen. Founded in 2008, the company has seen continuous growth with its breakthrough payment solutions. The new name of AltaPay is to underline the company’s new global ambitions.
JetPay and Acculynk announced “PaySecure” is now available on the JetPay payment platform. JetPay payment transaction processing suite and Acculynk’s “PaySecure” PIN debit payments on the Internet partnered in 4Q/10 to offer “PaySecure’ to existing JetPay merchants and Ecommerce merchants with other acquirers that do not currently offer PaySecure. Acculynk partners with major merchant acquirers such as these to make the product available to their installed merchant base. In cases where the acquirer does not currently offer PaySecure, the product can be leveraged as a hook product for new business.
Bank of North Carolina is now offering IronKey “Trusted Access” for Banking to help keep clients safe when conducting banking online an protect its business clients before criminals can strike. This will provide customers an online banking experience isolated from financial malware. Unlike other approaches that play the losing game of trying to detect financial malware before it strikes, Trusted Access separates users and their banking sessions from their potentially compromised desktop and applications. Following recommendations of NACHA (National Automated Clearinghouse Association) and the FBI, BNC will provide its clients a dedicated environment for online banking using Trusted Access. By offering IronKey Trusted Access, BNC Bank has taken an important step to protect its customers from these threats and delivers the highest form of security available.
The First Premier Bank 59.9% APR MasterCard-yes you read that correctly- has been removed from its offering, claiming it was too popular and has reached some sort of issuing limit for the month. First Premier Bank will instead be offering a secured card with a 19.9% APR, for which if the user doesn’t make payments,…
UK merchants predict positive eCommerce growth in 2011 with only 2% expecting a decline. On average, 1.9% of 2010 orders accepted later resulted in fraud (compared to 1.6% in 2009), although this figure does vary by market sector. Furthermore, 59% of respondents expect fraud management budgets to remain stagnant in 2011, with 10% expecting to have less available. Meanwhile, merchants continue to expand with nearly 60% of UK merchants now accepting online orders from abroad. This, according to the seventh annual “UK Online Fraud Report” survey by Visa’s “CyberSource,” also indicates 59% of merchants say a delivery address is a good indicator of suspicion while 58% are more concerned about the IP address.
Capital One Bank has launched its “EndangeredSavers.com” interactive Web site for people seeking money-saving tips and strategies (www.endangeredsavers.com). Offering easy-to-use online tools that can be shared with their entire network of friends and family, “EndangeredSavers.com” encourages responsible savings with such features as the “Saver Quiz” to determine the users’ classification as a ‘High Roller,’ a ‘Cost Cruncher’ or a ‘Cash Coach’ based on their feelings and behaviors towards money in everyday life situations. Additionally, the site offers ‘Sound Advice’ from personal finance experts on topics ranging from saving for a first home to creative ideas for dating on a budget; “Vital $tats” providing statistics on American’s financial habits may surprise people; and “Endangered Savers” videos, challenging consumers to a series of money-related obstacles and trivia. As added incentive to keep saving, Capital One Bank is giving away prizes valued up to $5,000 to visitors of the Web site who enter the sweepstakes and to those who share the Saver Quiz, Sound Advice, Vital $tats or one of the videos with a friend.
A new fraud management platform has been introduced that layers
advanced analytics on top of a modern, industry standard “Complex Event
Processing” (CEP) engine. MA-based Memento Security’s new product delivers high
performance, low latency real-time fraud detection to block in-flight
events. The solution uses simultaneous analysis of tens of thousands of
events per second, flexible integration with transaction processing
systems for in-flight transaction blocking and leverages aggregated
repository of transaction history. It can be effectively used to manage
online “card-not-present” transaction, debit card, credit card and
online banking fraud. Memento Security empowers analysts with
intelligent prioritization of alerts, supported by integrated forensic
research capability, and cross-channel alert aggregation and link
analysis that facilitates enterprise-wide detection and investigation.
Case investigation is supported by workflows that can be customized base
on role, alert type, priority and other factors. “Memento Case Manager”
also serves as a centralized repository for management-level and more
detailed reporting and summary dashboards.
A new survey has found that 28% of U.S. consumers say that once they have covered their essential living expenses they have no money left over. The ACNielsen survey found that U.S. figure to be higher than any other country. Of U.S. consumers who do have spare cash, 37% said their first priority for that money continues to be debt repayment. One-year ago the figure was 33%. ACNielsen also found that when it comes to spending the only area to increase was “Home improvements, decorating.” Areas such as entertainment, clothing and new technology declined. ACNielsen says Americans’ biggest concern over the next six months is the economy, far out-distancing concerns over terrorism or war.
Wire Card has chosen Quova to provide geolocation services for managing fraud risk in credit card applications. Wire Card has deployed Quova’s patented “GeoPoint” technology to its “Corporate Clearing Center” to help provide worldwide risk scoring during
the customer signup process. Wire Card’s Corporate Clearing Center C3 is the merging point for all information about a transaction, whether conducted by a retailer or a
transaction processor (e.g. a bank or a credit card company), and is
complemented by its risk-management platform, the Corporate Trust Center
(CTC). The integration of Quova’s GeoPoint into the CTC enables the
accurate, real-time geolocation of each customer and enhances the
risk-scoring capabilities of the platform.
Oberthur Card Systems reported it delivered a record 33 million microprocessor cards during the third quarter. For the payment smart card market, the Company delivered 13.4 million cards during the quarter, a 14.9% gain over the prior quarter. Smart payment card revenues for the third quarter were $26 million, a 6.6% gain over one year ago. The growth in payment cards was driven by EMV migration programs both in Benelux and the United Kingdom where Oberthur recently signed an exclusive three-year contract with the retailer Marks & Spencer for the supply of credit cards. Obethur says sales of banking magnetic stripe cards, loyalty cards, scratch cards and memory cards totalled $19 million, a decline of 6.2% over the second quarter. Magnetic stripe cards activity is globally stable (-1% versus the second quarter) with an increase in Europe and a decline in the US due to a low seasonality quarter. Oberthur says the overall decrease for this segment comes from the continued withdrawal from memory cards activity.
Europeans generated 8.2 billion VISA POS transactions last year with volume of euro 494.1 billion, an increase of 13.3% and 14.3%, respectively. Including cash withdrawals, VISA’s 2002 gross volume in Europe hit euro 775 billion in 11.2 billion transactions, a 14.8% increase. Retail sales using a VISA card now account for almost 9% of personal consumer expenditure in Europe. The number of VISA cards issued in Europe increased 8.8% to 211.7 million, including 34.7 million EMV smart cards. Debit transactions at POS grew to euro 304.8 billion, a 13.8% increase. VISA also noted that e-Commerce sales in the last quarter of 2002 were up over 100%compared to the previous year-end.
Europeans generated 8.2 billion VISA POS transactions last year with volume of $538 billion, an increase of 13.3% and 14.3%, respectively. Including cash withdrawals, VISA’s 2002 gross volume in Europe hit $844 billion in 11.2 billion transactions, a 14.8% increase. Retail sales using a VISA card now account for almost 9% of personal consumer expenditure in Europe. The number of VISA cards issued in Europe increased 8.8% to 211.7 million, including 34.7 million EMV smart cards. Debit transactions at POS grew to euro 304.8 billion, a 13.8% increase. VISA also noted that e-Commerce sales in the last quarter of 2002 were up over 100% compared to the previous year-end.