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.
MasterCard Canada launched its MasterPass digital payment services. This offers a seamless, secure and speedy check out regardless of where consumers may be and what screen they may be using – MasterPass securely stores credit card information and shipping information in a secure cloud hosted by trusted entity. It also provides added tools that provide consumers with real-time alerts, account balances, loyalty programs as well as Priceless offers and experiences. Merchants including Porter Airlines, WagJag, Jaunt.ca and Grocery Gateway have enabled MasterPass checkout services on their eCommerce websites. MasterCard plans to expand the number of MasterPass enabled merchants in Canada to 800 merchants by the end of 2013 and 2,800 merchants by the end of 2014. When making purchases through these companies’ eCommerce websites, MasterPass digital services will allow Canadian consumers to securely and seamlessly complete their transaction in a few clicks, eliminating the burden of filling out card and shipping information repeatedly.
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.
Global Payments global electronic payment processing announced its Canadian launch of the Ingenico “iCT250” contactless POS terminal built on Ingenico’s Telium 2 platform. Global Payments is the first merchant acquirer in North America to bring the iCT250 to market. It was selected by Global Payments to provide merchants with advanced features for processing cardholder payment transactions and offers built-in contactless processing, color screen and large, back-lit buttons for high visibility.
FNDS3000 international prepaid processing company currently introducing electronic payment solutions to the South African market has closed on a $500,000 private placement. The third scheduled tranche of the $2.5 million, non-brokered equity financing agreement, this financing was led by Sherington Holdings and, when coupled with the related financings completed in October 2010 and January 2011, this financing brings the total amount of capital received to date under the October commitment agreement to $2 million. The final tranche of $500,000 is expected to be closed on or before July 1, 2011, for which proceeds will be used as working capital to support continued growth of FNDS3000’s South African prepaid card business.
VeriFone Systems has announced Global Payments electronic payment processing will distribute and support the VeriFone “PAYware Mobile” secure card payment system in Canada, the first payment processor to offer the card processing solution for the iPhone in North of the border. Fitting snuggly over the iPhone 3G and 3GS to accommodate secure card swipes and offer lower-cost âcard presentâ transaction fees, the “PAYware Mobile” card encryption sleeve will be made available immediately to Global Payments merchants. Incorporating VeriFoneâs end-to-end encryption technology to ensures secure payment processing, the system currently incorporates a secure mag-stripe card encryption reader for iPhone and a PA-DSS validated App and has an EMV version on the way.
VeriFone Systems has announced Global Payments electronic payment
processing will distribute and support the VeriFone “PAYware Mobile”
secure card payment system, the first payment processor to
offer the card processing solution for the iPhone in Canada. Fitting
snuggly over the iPhone 3G and 3GS to accommodate secure
card swipes and offer lower-cost “card present” transaction fees, the
“PAYware Mobile” card encryption sleeve will be made available
immediately to Global Payments merchants. Incorporating VeriFone’s
end-to-end encryption technology to ensures secure payment processing,
the system currently incorporates a secure mag-stripe card encryption
reader for iPhone and a PA-DSS validated App and has an EMV version on
FNDS3000 Corp prepaid processing company is set to present at the National Investment Banking Association’s (NIBA) 115th Investment Conference in Dallas. NIBA national not-for-profit trade association of regional and independent brokerages, investment banking firms, institutional investors and related capital market service providers host conferences to provide a venue for invited companies to share meaningful insight into their business operations. FNDS3000 Corp is engaged in executing a series of international growth initiatives designed to position the Company as a major player in the world’s fastest growing payment card segment: prepaid cards, serving the 40% of South Africa currently unbanked or underbanked.