In 2016, every business is a digital business. Traditional businesses will be vulnerable to disruption, and emerging industries will face new threats. With cyberattacks costing businesses about half a trillion dollars – conservatively – in 2015 alone. What does 2016 hold?
VSoft and Payveris, are expanding an existing strategic partnership to integrate Payveris’ payment solutions into VSoft’s new IRIS Omni-Channel platform.
Millicom and Kalixa announced the establishment of a joint venture to develop a payments service provider to operate in Africa and Latin America. The joint venture will offer payment acceptance services for both businesses and consumers, including payment gateway and point of sale solutions for merchants as well as 1-click payment and eWallet provision for online customers.
Oxygen8 announces the launch of Oxygen8PAY e-commerce, mobile and IVR card payment solution designed to simplify merchants’ card payment operations through a range of communication channels. Complementing and integrating with Oxygen8’s current portfolio of products, such as mobile marketing platform Evolve and its Web Page Builder tool, Oxygen8PAY provides a full service proposition to businesses looking to engage with customers across multiple channels. This offers a simplified method of paying for products without the need for costly human resource. As a PCI compliant solution, Oxygen8PAY also holds a highly robust infrastructure with established policies and processes in place to ensure optimal security. It includes a flexible and scalable cloud platform, multi-device capabilities and trusted global payments with a real-time dashboard which can be viewed on any device.
Hybrid PayTech World Inc announced today that Smart eMoney Inc. (SMI) and Hybrid PayTech Asia Inc. (Hybrid) have collaborated for the deployment of a pioneering mobile payment ecosystem platform to enable enterprise and retail businesses in the Philippines. SMI will use the HybridVIRTUO Ecosystem Platform for mobile point-of-sale (mPOS) roll-out which includes a unique host of solutions for easy integration with other existing payment systems. The scalable Hybrid platform will enable SMI to deploy a full suite of compliant mobile payment solutions for businesses and includes Hybrid’s HybridMPOS APPs, a mobile application built on the most popular operating systems for wireless devices such as Android, IOS, BB, and Win6,7,8.
WorldPay payment processing announced Valve, creators of best-selling game franchises and leading technologies selected its payment services for processing video game transactions globally. Valve required a payment provider that could optimise global reach and maximise transaction acceptance amongst video gamers, particularly during Steam’s eagerly anticipated holiday sales. Valve chose WorldPay based on WorldPay’s experience processing within the video game industry and long-standing international experience. WorldPay provides scalable payment services that will grow alongside the Steam platform, supporting new technologies and territories.
Oracle Financial Services introduced Oracle “Flexcube” solutions for multi-channel banking. The “FLEXCUBE” Multi-Channel Solution, with new versions of Oracle “FLEXCUBE” Direct Banking and Oracle “FLEXCUBE” Private Banking lets banks offer complete portfolio view-based products and services on multiple direct channels, including mobile devices. Banks can introduce highly personalized offerings while reducing customer acquisition costs by offering a comprehensive range of products through a one-stop portal. The “FLEXCUBE” Multi-Channel Solution lets banks transition customers from transaction-based primary banking services to advanced customer portfolio tracking and investment consulting. The Multi-Channel Solution supports banking operations across multiple countries, currencies and languages.
Emtrace Technologies Smartphone solutions announced an “Android” Smartphone version of its “Moxier Wallet” password management app. The “Moxier Wallet” secure personal information vault secures frequently used financial data, logins and passwords. Featuring easy-to-use software, customizable settings, powerful encryption technology, and automatic multi-platform synchronization capabilities (Android/PC/Mac/iPhone); Moxier Wallet secures sensitive information and makes it more available. It offers simplified management of credit card & bank account info, passwords, passport numbers, prescriptions, ATM PIN numbers and web logins.
Sybase 365 mobile messaging and mobile commerce services has expanded its mobile commerce offering with version 3.0 of Sybase “mBanking 365” mobile banking platform. This is designed to enhance functionalities and simplify deployment. It offers iPhone support for Consumer Retail Banking and provides an mBanking iPhone application for Corporate Banking-specific Treasury management. Sybase “mBanking 365 3.0” includes device detection and features Multi-Channel mBanking: SMS, mobile browser and rich-client; an exclusive iPhone app for Corporate Banking-specific Treasury management workflows for Positive Payment decisioning, ACH release, Wire release, Corporate Account Activity Alerts, and mobile phone optimized Cash Management reporting.
Trintech Group Plc, a global provider of secure payment infrastructure solutions for real world, Internet and wireless environments, announced that their payment solutions support the Visa U.S.A. Payer Authentication Service which is based on the 3-D Secure Interoperability Standard. Visa Payer Authentication, part of Visa’s Secure Commerce Program, is designed to provide a more secure environment for consumers and merchants conducting electronic commerce.
Trintech’s 3-D Secure PayWare solutions enable issuers, acquirers, processors, telcos and merchants to quickly take advantage of Visa U.S.A.’s Payer Authentication Service, designed to help ensure secure online payment transactions. Solutions based upon Visa’s new authentication standard are both easy to implement and quick to market.
After enrollment with a participating card-issuing bank, cardholders can now authenticate themselves similar to the way they sign sales receipts in the physical world. Visa Payer Authentication will provide customers with a more secure online shopping experience by adding a layer of security that helps to reduce fraudulent use of Visa card numbers on the Internet, ultimately building consumer confidence for online shopping while reducing customer disputes and fraud losses for merchants.
“The key to eCommerce growth is consumer confidence in merchant website security and verification of a cardholder’s identity,” said Jim McCarthy, Senior Vice President at e-Visa. “We are pleased that Trintech is in full support of the Visa Payer Authentication Service. Visa is working with several technology partners like Trintech to help banks and eMerchants better secure cardholder information online, giving consumers a better online experience and merchants increased sales volume.”
“A secure and convenient purchasing experience is crucial for eCommerce to fulfil its true potential,” said John McGuire, CEO at Trintech. “Trintech is pleased to work with Visa to ensure that fraud is minimized and confidence in online shopping improves. Trintech PayWare solutions that incorporate Visa’s 3-D secure protocol will significantly strengthen the safety and security of business and consumer transactions on the Internet.”
The Visa U.S.A. Payer Authentication Service allows cardholders to shop online as they do now, adding items to a virtual shopping cart and proceeding to the merchant’s checkout page. Once the “buy now” button is selected, the authentication process confirms the cardholder’s identity to the Issuer through a password. Once the cardholder has been successfully authenticated, the card-issuing bank will transparently pass a notice of authentication to the merchant.
Trintech’s 3-D Secure solutions enable Issuers, telcos, merchants, acquirers and processors to take full advantage of the Visa U.S.A. Payer Authentication Service. Trintech’s range of 3-D Secure Issuer solutions, known as PayWare Guardian PA (Payer Authentication), provide a range of 3-D Secure solutions tailored to meet Issuer requirements. Issuers may choose to implement PayWare Guardian PA in conjunction with Trintech’s PayWare eIssuer product, a consumer eCommerce multi-device payment solution. Alternatively, they may choose a standalone solution that readily integrates with an Issuer’s legacy system, allowing Issuers to benefit from existing authentication systems and established cardholder records.
All parties, including telcos, will benefit from Trintech’s 3-D Secure mobile commerce solution. PayWare Guardian PA will be extended to the wireless Web to 3-D Secure enable mobile phones, personal data assistants and other platforms such as digital set top boxes. This will be provided in conjunction with Trintech’s existing mobile commerce solutions. Trintech’s 3-D Secure merchant solution (referred to as a Merchant Plug-In) provides merchants with a stand-alone solution that integrates with their existing payment software. Acquirers and processors may also host the Merchant Plug-In as a service. The Merchant Plug-In integrates with Trintech’s payment gateway and merchant hosting solution.
Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for physical world commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL and SET(TM) compliant. Trintech’s range of scalable open systems architecture solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for physical payments and the emerging world of electronic commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: +1-650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at .
Magic Line, Inc., the Midwest’s largest EFT network, and Online Resources & Communications Corporation today announced they have signed an agreement to offer Online Resources’ remote banking and interactive financial services to Magic Line’s banks, credit unions and thrifts.
Magic Line, the seventh largest network in the nation, serves more than 1,000 financial institutions in the Midwest. Online Resources will offer its industry-leading banking and billpaying services, distinguished by their real-time and integrated, multi-access capabilities.
“Magic Line is pleased to make this agreement with Online Resources, who has an excellent reputation in the marketplace. Through it, we will be able to expand remote banking services to our financial institutions, as we continue to meet their needs and offer choices to help them compete,” said John Bascom, president and CEO of Magic Line, Inc.
Complementary Strengths in Real-time Services
Online Resources CEO Matthew P. Lawlor said his company, which holds a patent relating to real-time financial services, believes that Magic Line will play a key role in fostering interactive services. “Magic Line and other EFT networks, along with Online Resources, have pioneered real-time services. Twenty-four hour cash-on-demand and POS card services are among the financial services initiatives that have changed the way consumers manage their money. The trust the public has in Magic Line and the support the network has shown its banks, credit unions and thrifts make Magic Line an excellent partner for us.”
For consumers, there are several key advantages to a real-time environment:
Balances are up-to-the-minute
Because accounts are verified before bills are paid, online overdrafts are eliminated.
Consumers can use various devices from anywhere and at any time and yet get up-to-the-minute information. This makes real-time especially important to families where more than one member has access to accounts.
Real-time debiting facilitates bill paying. Online Resources, for example, can guarantee most payments within two days.
Other strong attractions of the Online Resources’ service are that it can be tailored to institutions of all sizes and that it offers customer service support that is often mission-critical to the mid-size institutions.
Lawlor said the Magic Line partnership represents a major thrust for his company in the Midwest. “We are extremely pleased that the largest Midwest EFT network has chosen to support financial institutions with a multi-device, outsourced approach that’s easy to implement,” Lawlor said, noting that his company offers consumer access via the Web, private networks, telephones and ScreenPhones.
Online Resources’ offers proven Web real-time service. Since mid-1996, the company has provided to institutions of all sizes the ability to conduct real-time transactions on the Web. Moreover, it has a industry-wide reputation for developing and launching reliable and secure Web banking services that include cash management and billpaying, as well as Web site design and hosting, for $30,000 to $50,000.
As one of the top regional EFT networks linked throughout the United States and globally, Magic Line supports 14.9 million cardholders with access to over 165,000 ATM, POS and remote banking terminals. The company offers: full-service ATM placement and management; ATM terminal driving with customized options; cardbase management and authorization services; online POS debit services with ML Pay, Maestro and Interlink; offline POS debit services with MasterMoney and Visa Check Card; remote banking/bill payment services; the Magic Line Mobile ATM; Internet Web Site development; marketing services; and the Magic Line PrePaid Calling card. Magic Line’s Internet Web Site address is [www.magicline.com].
McLean, Va.-based Online Resources & Communications Corporation () is a leading wholesaler of interactive consumer financial services to financial institutions. The company provides a “one-stop shop” for its institutional clients. It integrates a large variety of consumer access options (PC ScreenPhone, Telephone via internet or private network) with an extensive set of financial transaction services (billpaying, banking and other services). Using its patented ATM network-based architecture, the company’s real-time transactions offer major cost and quality benefits. The company’s core services are augmented by a host of products and support services. Online Resources, a privately-held company founded in 1989, serves more than 225 financial institutions nationwide.