EMV Ready?
Some experts say new EMV cards promise much greater protection against fraud and hacking, but many merchants aren’t nearly ready to process them.
Payoneer Partners with Quantium Solutions
Payoneer announced today it has signed a partnership with Quantium Solutions Inc. of Japan to provide global cross-border payment solutions for Quantium’s international e-commerce and mail-order business operators. Under the terms of the partnership, Quantium customers can become Payoneer accountholders, so they can more easily receive commercial payments from companies in the U.S. and around the world. Payoneer’s secure and trusted service can be utilized by a wide range of international e-commerce and mail order business operators, providing customers with full control over their money and providing the ability to withdraw funds to their local bank account or at local ATMs. Payoneer offers multilingual, 24/7 customer service and web support, and mobile applications for users across the globe.
Credit & Debit Card Fraud on the Rise
Data now show a continuing shift towards online, mail-order and telephone-order fraud versus counterfeit fraud over the same period. With this, from January 2010 to September 2011, card-not-present fraud losses increased at twice the rate of counterfeit card losses. Though Internet, mail and telephone fraud accounted for the highest total fraud loss and fraud volume,…
U.S. Bank Launches Real-Time Customer Alerts
U.S. Bank is making available real-time ATM card and check card alerts to its consumer and business cardholders’ mobile devices and computers. The real-time alerts range from suspicious activity being detected to cash being withdrawn from an ATM and are sent via SMS text message, email or both. Cardholders can select the alerts that will make it easier for them to stay informed and be in better control of their finances. Cardholders may also receive real-time alerts for international transactions, gasoline purchases, ATM withdrawals, declined transactions or for online, mail-order or telephone transactions where the card is not present.
VersaCheck.com Launches Consumer Safeguards
VersaCheck.com has made available its “VersaCheck X1 DNA Secure” ultra-secure platform for creation and delivery of safeguarded checks. The system can eliminate the vast majority of losses associated with unauthorized or underfunded check payments in the US. The “VersaCheck X1” solution benefits users by offering a revolutionary level of counterfeit prevention, financial account protection, real-time withdrawal alerts and avoidance of credit card finance charges. Online merchants and users of Quicken, QuickBooks, Peachtree and other finance software can also benefit from DNA Secure™ check safeguards through easy integration with VersaCheck X1 software. VersaCheck X1 replaces prior VersaCheck versions effective immediately. VersaCheck 2008, 2010 and 2012 users are entitled to a free upgrade to the VersaCheck X1 platform.
G7 Announces New VersaCheck 2012
G7 Productivity Systems launched its new Windows 7 certified “VersaCheck” 2012 Finance & Check Creation software line to let users create high-quality full color checks with user-defined custom security features from standard multi-purpose cut-sheet printer paper in addition to traditional blank check paper stock. With “VersaCheck” software, users can manage finances and easily design and print checks that are 100% compliant with ANSI X9 specifications and check processing regulations in the USA as well as rules applicable for Canada and many other countries worldwide. The software works alone and seamlessly integrates with QuickBooks, Quicken, Peachtree and others to merge check data from financial software with a large choice of included pre-designed check templates or custom check designs which can be created by users with an included easy-to-use check designer. Also offering the “ANY PAPER” feature, “VersaCheck” lets users choose and print security check patterns with logos, graphics and pictures.
BankCard USA Introduces Guarantee Program
Merchant service provider BankCard USA has launched a “5 Point Service
Guarantee Program” for its customers. The newly launched 5 Point Service
Guarantee Program states:
New customers are never sent refurbished equipment or outdated POS
softwareâBankCard USA ensures that all hardware and software is the
newest and most updated available, reducing potential malfunctions and
resulting in faster transactions for the merchant; whether merchants
need new
POS equipment for a grand opening, convention, or a merchant needs to
make a quick switchover, BankCard USA will take care of customer needs.
Equipment
can be delivered within 24 hours and with no contracts; customer
requests must and will be handled on the first call.
BankCard USA knows that merchants are far too busy to worry about
following up with their merchant servicer. BankCard USAâs goal is to
make sure
all problems no matter how big are solved within 24 hours. BankCard USA
specializes in credit card processing for new or existing businesses.
They offer payment solutions for all types of businesses, including
internet, retail store-front, mail-order, phone-order, trade shows,
professionals, service industry and home-based businesses.
Medical Marijuana Prepaid Card in the Works
A pre-paid loyalty and ID card for licensed medical marijuana dispensaries and collectives operating within the states of California and Colorado is in the works. Commerce Online and RedFin Network have teamed to offer the new card. The Commerce Online branded, pre-paid loyalty and ID card will be marketed through our new Collective Card Services division, and may be loaded to any denomination of funds with direct deposit at local bank, via the Internet, POS system by the member of the collective or medical dispensary. Fourteen states presently allow some use of marijuana for medical purposes: Alaska, California, Colorado, Hawaii, Maine, Maryland, Michigan, Montana, Nevada, New Mexico, Oregon, Rhode Island, Vermont and Washington. There are an estimated 300,000 to 400,000 medical marijuana patients in California.
Commerce Online and 561 Media Join Forces
Commerce Online has announced a joint venture agreement with 561 Media
international web development firm to provide merchant card services and
web marketing for all 561 Media clients. The card services will be made
available through Commerce Online and its alliance partner network,
which includes FL-based Direct Technology Innovations (“DTI”). Commerce
Online and DTI have recently signed merchant processing and ISO
agreements to support the venture. The venture will offer website
development for new business, search engine marketing, social networking
and merchant card services for all
561 clients, including fee-based traffic and advertising through the
“www.800Commerce.com” social B2B portal.
Commerce Online to Acquire TenderCard
Commerce Online has signed a binding letter of intent with
MA-based Merchant Resource Association stored value and gift and
loyalty card programs for approximately 12,000 diverse merchant
locations throughout the United States. Proposing the merger of MRA as a
wholly owned subsidiary of Commerce Online, in which CMIB has agreed to
acquire all of the securities of MRA, the LOI will allow the former to
emerge as the surviving holding company to focus on the acquisition of
credit card processing divisions and is subject to the signing of a
definitive merger agreement by July 31, 2009. MRA has provided credit
card payment processing and related products and services to over
200,000 business locations since 1990, including TenderCard, while
Commerce Online offers online and wireless merchant payment solutions.
PAGO REPORT
According to the “Pago Retail Report 2008”,
risks of non-payment are much lower for women than
for men. This is indicated by a lower chargeback ratio, which
describes the share of credit card transactions which had to be
charged back after the cardholder rejected the transaction. At roughly
0.10%, female consumers’ non-payment ratio for online purchases paid
for by credit card is only half that of male customers (0.19%). One
year before the opposite was true. This report is based on a sample of
7.5 million real-life purchase transactions
processed through the Pago platform.
Credit Cards Dominate European eRetail
Consumers use credit cards to pay for more than eight out of ten purchases in European online retailing. New Research shows that credit cards share rose almost 6% year-on-year. The “Pago Retail Report 2008,” which was recently published by Deutsche Card Services also shows that that 5.04% of all retail transactions were paid for by offline methods and 11.97% by direct debiting. Their shares in overall e-commerce are only 0.77% and 8.34%. However, offline payment and direct debiting lose ground to credit cards in online retailing.