MasterCard and PULSE reached an agreement to allow financial institutions that issue EMV debit cards that participate in both the MasterCard and PULSE networks to use MasterCard’s common debit solution on those cards. U.S. debit regulations require that each debit card provide merchants and acquirers the opportunity to route debit transactions over multiple, unaffiliated networks. This is made possible for debit EMV cards through the use of common application identifiers (AIDs). Licensing MasterCard’s common debit AID will help support EMV chip adoption in the United States by enabling issuers to deploy EMV cards in compliance with this regulatory requirement. PULSE will use MasterCard’s common AID to process domestic ATM and POS transactions on behalf of issuers that participate in both PULSE and MasterCard, including those initiated with contactless-enabled devices.
Visa and PULSE signed agreements to enable financial institutions that issue EMV debit cards on both the Visa and PULSE networks to use Visa’s common debit solution. Visa’s common application identifier (AID) supports U.S. debit regulations requiring the ability to route transactions over multiple, unaffiliated networks. A common debit solution shared among all participants will help to accelerate EMV chip adoption in the United States and provide a uniform platform that will enable network innovation. PULSE will use functionality on Visa’s common AID to facilitate all types of point-of-sale debit transactions on its network. In addition, the agreement enables PULSE to facilitate domestic ATM transactions on its network and provides for issuer choice in the routing of ATM transactions.
PULSE debit/ATM network and Paydiant cloud-based mobile wallet and offer redemption platform, are working together to provide an easy-to-use mobile commerce solution for PULSE participants. The Paydiant solution will enable PULSE financial institution and merchant partners to quickly deploy contactless payment and cash access functionality to better serve their mobile-minded customers. Paydiant’s mobile wallet platform is software-based and works with both new and existing smartphones – including iPhone® and Android™ devices already in the hands of millions of consumers. It also works with existing point-of-sale (POS) terminals used by participating merchants today without requiring new hardware.
fisoc, provider of the Buzz Points loyalty program, joined PULSE to offer Buzz Points to the network’s participants. Letting financial institutions connect with consumers and merchants through rewards and social-media engagement. Buzz Points was aligned with Discover Debit, managed by PULSE, to offer rewards that encourage consumers to shop locally and support merchants in their communities. Participating cardholders earned reward points that could be redeemed for gift cards or donated to charitable causes. Buzz Points is now being made available to PULSE financial institutions in select markets.
Pulse, a debit/ATM network, announced the launch of the Pulse Debit Dashboard, a new web-based tool that delivers Pulse participants increased access to their debit data. The Dashboard allows participants to more easily identify trends, analyze metrics and benchmark programs against those of other FIs. The dashboard application allows card issuers to review data about…
PULSE launched the PULSE “Debit Dashboard” web-based tool for financial institution participants that delivers unparalleled access to their debit data. The “Debit Dashboard” allows participants to better understand the economics of their debit programs by identifying trends, analyzing metrics and benchmarking themselves against industry peers. The dashboard application provides issuers the ability to review data about the use of their PULSE products, select defined time periods for each metric, and segment and aggregate by card groups.
International trade association Prepaid International Forum (PIF) today announced that Robert Courtneidge, who will shortly join US law firm Locke Lord as Global Head of Cards & Payments, has been elected as Chairman of the forum and will join the Board of Directors. 322 views 0 comments It further announced the appointment of four new…
American Express welcomed 75 emerging nonprofit leaders to the American Express Leadership Academy, which will run at both the company’s New York headquarters and at the Thunderbird School of Global Management in Glendale, Ariz. The American Express Leadership Academy is an international training program, conducted in partnership with the nonprofit Center for Creative Leadership, designed to develop the next generation of leaders in the nonprofit sector. Participants in the program are selected based on a competitive application process from national and local nonprofit partners to hear from American Express senior executives on such topics as media training, leadership training, experiential exercises, individual executive coaching, and team activities. The American Express Leadership Academy at Thunderbird in Glendale is an extension of Thunderbird’s existing Academy, a program that American Express has supported since its inception, for leaders in the social sector.
BDO LLP has initiated a project to automate its purchase-to-pay processes with PROACTIS cloud eProcurement solution. BDO LLP will use PROACTIS to rationalise and streamline the whole purchasing process under one system and improve the tracking and accounting of purchases. The cloud-based system will ultimately provide real-time visibility of commitments and the ability to forecast payment values and better manage budgets. The PROACTIS cloud eProcurement solution will be implemented across 13 regional offices and integrated to BDO’s PeopleSoft ERP to reduce processing costs. PROACTIS provides spend control and eProcurement solutions.
In response to research showing online retail transaction volume is expected to reach $268 billion by 2013, 15% of which conducted using PIN-only debit cards, PULSE debit/ATM networks is launching its “Internet PIN” debit solution with the security, reliability and convenience of PIN debit through online shopping. Financial institutions using PULSE Internet PIN Debit can deliver PIN-based, online transaction verification to consumers who purchase products from e-commerce merchants. Using Acculynkâs “PaySecure” Internet PIN debit software, “Internet PIN” reinforces the issuer and cardholder relationship by using a financial institution-branded graphical PIN pad. The cardholder clicks the mouse on a number and the PIN pad re-scrambles as each subsequent digit is selected. The PIN is not captured on the computer, nor is it transmitted over the Internet.
Discover’s ATM/debit network PULSE has launched “PULSE Select,” a
surcharge-free ATM network alliance with the Elan Financial Services’
“MoneyPass Network.” The new “PULSE Select/MoneyPass Surcharge-free ATM
Network” will provide financial institution participants with access to
more than 16,000 surcharge-free ATMs across the country. Debit
cardholders who use an ATM not owned or operated by their financial
institution typically are charged a surcharge fee ranging from $1.50 to
$3.00 per transaction. The networks say that financial institutions
participating in the PULSE Select/MoneyPass network not only provide a
desired service to cardholders, but also may be able to reduce expenses
associated with providing rebates of surcharge fees.