OR-based Prime Factors announced that Arroweye Solutions has updated its automated crypto key management with EncryptRIGHT. The development amps up payment card security against hacking threats.
OR-based Vesta Corporation electronic payment solutions has begun managing “Tele2 Latvia’s” electronic Web & IVR top-up channels. Vesta will also support live agent top-ups hosted by Tele2. This lets Tele2 prepaid customers use streamlined, secure top-ups via a wide variety of payment devices and payment channels. Vesta’s payment technology is also fully PCI Data Security Standard (PCI DSS)-compliant. Mandated by leading credit card issuers, PCI compliance assures that requirements for payment data security are being met.
OR-based Vesta Corporation electronic payment solutions has begun managing “Tele2 Latviaâs” electronic Web & IVR top-up channels. Vesta will also support live agent top-ups hosted by Tele2. This lets Tele2 prepaid customers use streamlined, secure top-ups via a wide variety of payment devices and payment channels. Vestaâs payment technology is also fully PCI Data Security Standard (PCI DSS)-compliant. Mandated by leading credit card issuers, PCI compliance assures that requirements for payment data security are being met.
OR-based originator, owner and servicer of credit-sensitive unsecured
receivables Genesis Financial Solutions has converted 60,000 small
business credit card accounts totaling $250MM in receivables to its
servicing platform. Genesis coordinated the conversion among multiple
global investment banks and an institutional investor. As a result of
the transaction, Genesis Financial Solutions is now the successor
servicer for two of the four noteholders, and both successor servicer
and acquirer of the assets for a third. The conversion required Genesis
to develop, analyze and execute a complete Account Management strategy
and implementation plan. Genesis Financial Solutions is known throughout
the industry for managing distressed unsecured consumer receivables and
structuring and executing complicated transactions. Over the past
several years, Genesis has completed several similar transactions,
including the acquisition of a $250MM pool of distressed credit card
accounts from a top five issuer.
Todd Springs has been appointed to the OR-based Solvport ATM and Kiosk services provider sales team as Director of Financial Products and Services. Bringing with him several years’ experience providing equipment, software and service solutions to the financial industry, Springs has owned and operated financial solution companies in the Northwest for the past ten years. Solvport is a division of TRM Copy Centers and a national leader in the outsourced, off-premise ATM & Kiosks services industry providing help desk technical support, field service, real-time monitoring, and project management for over 120,000 locations nationwide. Their customers include leaders in the ATM Independent Sales Organization (ISO) industry and the financial industry.
OR-based software start-up Lecere Corporation has announced
that it will support mobile handheld devices from various manufacturers.
Lecereâs initial deployment of its fully web-based, full-featured Point
of Sales software for restaurants is scheduled for April 30, 2010.
Features include (1) clock in/clock out, (2) manager, hostess, server,
expediter, kitchen, and bar roles with screen, handheld, and printer
screen views, (3) handheld, tableside order entry, (4) order item
progress and alerts appropriately sent to the various roles’ views (e.g.
‘bar’ role sees drink orders on any associated screens and/or printers,
with expediter and server notified when an item is ready), (5)
off-the-floor credit card scan (credit card never leaves the ownerâs
view), (6) menu definition, (7) tables definition with auto/manual (as
appropriate, e.g. ‘seated’ as long as there are open tickets), and (8)
table state management: open, seated, dirty, and closed.
OR-based e-payment provider Vesta Corporation has rolled a new online reloading service for NetSpend’s prepaid cards.Vestaâs program includes an innovative gifting feature that allows a customer to invite friends and family to contribute to a prepaid
account. Invitations are delivered by email and include a link to begin
the reload process. If desired, contributors can set up an account to
expedite future reloads, further simplifying these person-to-person
payments. Vestaâs technology includes proprietary account verification and risk
management practices that enable the provider to fully fraud-indemnify
NetSpend from any costs resulting from fraudulent transactions. In
addition, Vesta brings full PCI Data Security Standard (PCI
DSS)-compliant payment processing to Web reloads. NetSpend cardholders can now add up to $250 to their prepaid debit cards
from any bank debit card. Unlike other online reload services, new funds
are added in real-time to the cardholderâs account, making funds
OR-based POS software provider Lecere has added Roger Williams,
previously with Bob Evans, to the Board of Directors.
Williams began his career in the restaurant industry while a teenager,
starting as an hourly employee with Bob Evans Farms, Inc., which owns
and operates 713 full-service restaurants and produces a complete line
of retail food products. Williams quickly rose through the ranks at the
company, first as manager of a Bob Evans restaurant, turning it into the
chainâs most profitable location. Named a vice-president of the company
at age 27, he was then promoted to head of the Bob Evans Food Products
business and then to president of the Restaurant Division of Bob Evans
Farms, Inc., retiring from the $1.75 billion company in February 2009.
OR-based POS solution provider Lecere has tapped Gregory Schillinger as
VP of Hospitality Systems and Strategy and Cory Rinkin as CIO/CTO. Schillinger previously was
president of Coaching Restaurants, LLC, and has a successful
30-year career in the restaurant industry. A POS systems expert,
Schillinger has a long record of success in increasing revenues and
profits as a general manager with Wendyâs, TGI Fridayâs, Old Chicago,
the Hotel Boulderado, and Rock Bottom. Rinkin has more than 12 yearsâ experience leading the development of
innovative and advanced software programs, e-commerce applications, and
web sitesâincluding sharplabs.com, tickets.com, dacor.com,
verizonwireless.com, and motortrend.comâfor organizations including K2
Network, U.S. Sports Unlimited, and Prime Media Automotive.
Lecere markets “Lecere FIRMS”, an integrated, Web-based suite of point-of-sale
(POS) and restaurant management tools. FIRMS helps restaurants reduce
their operational costs while enhancing their customers’ experiences for
increased revenues and profits.
A new report reveals that credit unions tend to shy away from new
products and services that carry limited risk and are not
capital-intensive when introduced using the right vendor partners. The
current financial crisis has proven to be a boon to credit unions to
grow their market share and broaden their member base. According to the
Aite report, credit unions, over the past year, have been able to
attract new members away from larger banks and even grow deposits. Even
so, credit unions must do more to maintain positive market momentum and
ensure that the credit union model continues to thrive. This week,
Portland, OR-based AssetExchange says its latest analysis reveals that
outstanding balances for credit union credit cards grew 6.3%
year-on-year in the second quarter to $32 billion, slightly above 5.9%
growth rate in the first quarter. Card accounts grew 2.2% over the same
period to 12.3 million. Cards as a percentage of total assets declined
to 4.57% in the second quarter of 2009, down from 4.80% in 2Q/08. (CF
Credit card portfolio sales in the credit union market are grinding down to a trickle. Among CU credit card portfolios with at least $1 million in outstandings, only $4.5 million changed hands in the second quarter, compared to $190 million in the prior quarter and $20.5 million one-year ago. Portland, OR-based AssetExchange says it latest analysis also reveals that outstanding balances grew 6.3% year-on-year in the second quarter to $32 billion, slightly above 5.9% growth rate in the first quarter. Card accounts grew 2.2% over the same period to 12.3 million. Both figures are above the current overall industry growth figures. Cards as a percentage of total assets declined to 4.57% in the second quarter of 2009, down from 4.80% in 2Q/08. Credit card penetration remained approximately flat in the second quarter at 18%.
AssetExchange is a credit card advisory and brokerage firm.
OR-based Umpqua Bank has selected Fiserv’s “Mobile Money” to enable
customers to manage their finances using their mobile device.
Mobile Money features âtriple playâ technology that will allow Umpqua
customers to access accounts using SMS, a mobile
browser or an application downloaded to a BlackBerry smartphone or
Apple iPhone. Additionally, the exclusive RenderRight technology
utilized by Mobile Money will automatically customize the user interface
for the consumerâs mobile device, allowing Umpqua to deliver a
personalized mobile banking experience to each customer regardless of
their mobile device or carrier. “Mobile Money” is tightly integrated
into the Fiserv online banking and
bill pay services already used by Umpqua, which will allow the bank to
easily extend these applications to the mobile channel. Functionalities
available to customers will include: balance inquiries, transaction
history, account transfers, bill payments, a variety of account alerts
and an ATM and branch locater. “Mobile Money” is a secure application that
utilizes security best practices such as data encryption, along with
additional risk management safeguards. Mobile Money from Fiserv
incorporates technology from Atlanta-based
M-Com. M-Com and Fiserv announced their technology partnership in
September 2008 under the label Mobile Money from Fiserv.