Data Resolution Breach
Experian announced the release of its second annual Data Breach Industry Forecast, a white paper outlining key issues and trends to watch for in 2015.
Jo Webber
CardWeb.com’s CardExecs database of card industry movers and shakers today features Jo Webber, Chairman and CEO, Founder of Oink.
Contactless UK
A new survey finds nearly half of all UK card users viewcontactless cards as one of the least secure methods of payment , behind mobile payments at 71%. Also, despite industry claims that contactless cards are now widespread, 71% stated that they still do not have a contactless-enabled card in their wallet.
MasterCard Names Group head, GM
MasterCard announced that Deborah Heng has been appointed group head and general manager of Singapore to lead all aspects of MasterCard’s business expansion efforts in Singapore, working with banks, non-financial institutions and key merchants to drive business results. In her 14 years with MasterCard, Ms. Heng has overseen diverse strategic business deals, delivering against aggressive revenue targets and managing investment budgets across varied geographies – first in Finance for the Asia Pacific region, followed by the Europe region, after which she moved to roles in Customer Relationship Management and Business Development based in Singapore. Prior to this appointment, her most recent role was Division Finance Officer for MasterCard, South East Asia and South Asia. Heng holds a Bachelor of Accountancy degree from the National University of Singapore and a Master of Business Administration degree from the University of Nottingham, UK.
Compass Plus Posts HP Benchmark
Compass Plus electronic payment solutions and retail banking systems has completed scalability and performance tests on HP servers for their “TranzAxis” Open Development Banking Platform. A specialist, integrated platform created for the development and support of cards and payments, transaction switching, retail banking and other systems and applications in the domain linked to the automation of retail banking activities, “TranzAxis” was tested through a simulated issuing and acquiring setup that required it to drive 20,000 terminals (10,000 ATMs and 10,000 POS devices). TranzAxis also acted as an issuing system that included 10 million accounts with overdrafts and 10 million cards linked to them. The platform reached a sustained peak of 1066 transactions per second (TPS) during testing and remained stable at that high capacity.
Compass Plus Implements Instant EMV Card Issuance
Compass Plus global payments software provider launched its Instant Issuance solution based on TranzAxis open development banking platform. TranzAxis Instant Issuance allows financial institutions to issue EMV and magstripe cards in-branch in a matter of minutes. This encourages customer loyalty, increased card activation rates and decreased distribution costs. Compass Plus has embarked upon a project with Mühlbauer, the top manufacturer of high-end personalization equipment, in order to promote TranzAxis in the global market while enabling Mühlbauer to further expand its business into the banking sector, particularly instant card issuance.
Compass Plus Releases Payment Fraud White Paper
Compass Plus retail banking software and electronic payments systems to financial institutions released a white paper, “The Rise and Fall of a Fraudulent Transaction,” detailing the evolution of financial services and how financial institutions must deploy multiple layers of protection in order to stay ahead of the fraudsters. It shows how the financial services sector has undergone a transformation in the last 10 years with customers no longer needing to visit their bank – Internet, mobile and self-service kiosks, including ATMs, now provide access to services at all times. Compass Plus outlines the various types of fraud that are prevalent today and the numerous layers of protection that can be used to combat them.
Compass Plus to Unveil Platform at FinovateFall 2012
Compass Plus retail banking software and electronic payments system is set to present its “TranzAxis” platform at FinovateFall 2012 on Sept. 12 and 13. The “TranzAxis” platform provides a full set of application development tools (builders, designers, editors, debuggers, etc.), as well as a set of specialist components that assist in implementing more diverse applications in a given domain. TranzAxis is easily scalable to benefit institutions of any size that face continuously changing business requirements and provides efficiency, flexibility, faster product deployment and cost savings.
NOMOS-BANK Partners Compass Plus, Expands Internet Banking
Compass Plus, an international provider of retail banking software and electronic payments systems to financial institutions, announced that Moscow, Russia-based NOMOS-BANK now offers online account opening and loan management through its NOMOS-Link Internet banking system, which is built on TranzWare Internet Banking. NOMOS-BANK has enabled three of its most popular deposit account types to be…
GreatCall and Experian Partner to Protect Jitterbug User IDs
GreatCall wireless services announces a new collaboration with Experian’s “ProtectMyID” full-service provider of identity protection and resolution. With this, GreatCall customers who purchase the Jitterbug cell phone will be eligible to receive a free, one-year membership to “ProtectMyID.” By combining an identity protection product with GreatCall apps and services, Jitterbug customers will now be protected. Feeling secure about your personal finance information is just as important as feeling confident about your physical well-being.
AmEx Global Wins $3.2B Renewed Client Business
American Express Global Business Travel has won through November 2010 more than $2.3 billion in new managed travel business1 with clients spanning from small and mid-sized companies to large market, multinational and global businesses worldwide. Transaction volumes are also on the rise and have seen double-digit growth globally. For client contracts up for re-signing, it was also reported that renewed client business accounted for $3.2 billion year-to-date. New clients won by American Express Global Business Travel in 2010 include AMN Healthcare Inc. (U.S.), AXA Canada LTD (Canada), CareerBuilder LLC (U.S.), FIS (U.S.), Health Care Services Corp (U.S.), Logica (France), NCH Corporation (U.S.), NG (H.K.), Regus (EMEA), Societe Generale (H.K.), The University of Nottingham (UK), Triumph (H.K.).
New Yorkers Have Most Open Card Accounts
The Experian study on credit card trends consumers are opening 26% fewer credit cards than in 2007 while the number of open bank cards were typically higher than retail credit cards, except for in Pittsburgh, Miami, Columbus and Atlanta. Meanwhile, New Yorkers have with the highest number of open cards- although they aren’t using them as much as some of the other cities- and Phoenix residents have the fewest. Atlanta has the highest average monthly balance is $6,753 on revolving accounts, although the consumers only have an average of 3.06 open accounts, while San Francisco and Houston have the lowest average monthly balance, with $5,323 and $5,328, respectively. The data was pulled and analyzed by Experian Decision Sciences using a statistically relevant sampling of Experian’s File One(SM) consumer credit database.
METRO OPEN CARDS/AVG BAL.
New York 3.77 $5,713
Pittsburgh 3.60 $5,989
Boston 3.49 $6,152
Phili 3.45 $6,078
Minn. 3.39 $6,610
Chicago 3.31 $6,182
SF 3.24 $5,323
LA 3.16 $5,681
Atlanta 3.06 $6,753
SOURCE: Experian