Secure Electrans payment solutions has received Government support for its Chip&PIN home terminal as a practical way to reduce fraud. Secure Electrans’ HomePay™ Chip&PIN system received support from the UK Government’s Communication Electronics Security Group (‘CESG’) working in partnership with the Europe-wide Open Standard for Security and Certification (‘OSeC’). Secure Electrans has been working closely with both regulatory organisations alongside industry competitors in efforts to raise standards via the implementation of an Evaluation and Certification Framework. This aims to implement a single scheme for security in payment terminals and cards, incorporating recognition of multiple security certification card schemes and banking organisations. HomePay™ operates through the multi-billion pound global and trusted Chip&PIN infrastructure, and has the potential to create a standardised payment processing architecture for online transactions.
MasterCard Worldwide has appointed Philip Panaino Division President for South Africa. This follows the recently announced restructuring of the Middle East and Africa (MEA) business to comprise three divisions including Middle East & North Africa (MENA), Sub Sahara Africa and South Africa – a change that enabled MasterCard to get closer to its customer banks, merchants and consumers in the markets. He will be responsible for the overall performance of MasterCard in South Africa. He will provide strategic direction for the overall business ensuring that MasterCard continues to provide simple and secure electronic payment solutions to customers and cardholders across South Africa. Panaino joins MasterCard from Smartec Technologies payments service and technology organisation that provides 24-hour payment, pre-payment and ATM solutions as COO.
sQuidcard has been chosen as the recipient of the “Company of the Month Award” by Business and Industry Today thanks to its impressive growth and innovative, state-of-the-art cashless ePayment system that has been incredibly well received by schools, colleges, universities and campus environments across the nation. Payments are made using contactless smart cards or biometric identification, allowing a safer, smarter transaction. With the 10 millionth cashless transaction quickly approaching, sQuidcard has taken the world by storm. The sQuidcard system focuses on providing more reliable and convenient alternative to carrying cash in educational facilities and allows parents to track their child’s spending in a quick and easy manner.
HERAE will be
demonstrating “IntelliRemit” for healthcare payers and DirectERATM for
healthcare providers at the Americaâs Health Insurance
Plans (AHIP) Institute June 9 â 11 in Las Vegas. IntelliRemit reduces bank fees, ensures prompt pay compliance and
enhances provider satisfaction with one end-to-end electronic solution.
By providing a single bank ACH file and transforming thousands of
varying format 835s and ERA files into a single standardized electronic
835 for providers, HERAE can save payers thousands of dollars in bank
fees, while the automatic payment and remittance re-association vastly
improves providersâ revenue cycle. Cash management is enhanced by IntelliRemitâs payment interval tools
that translate state and federal prompt pay laws and provider agreements
into optimized payment timing. Remittance restructuring services
identify claims that need to be paid, resulting in better daily control
over cash management and increased efficiencies. DirectERA, HERAEâs all-payer solution for providers, which enables a
secure, HIPAA-compliant paperless payment process that requires no
software or IT upgrades, will also be demonstrated at AHIP.
HERAE healthcare e-payment service provider will be demonstrating its “IntelliRemit” for healthcare payers and DirectERATM for healthcare providers at the Americaâs Health Insurance Plans (AHIP) Institute June 9 â 11 in Las Vegas. HERAE solution is an all-payer, e-payment solution leveraging the Company’s proprietary technology and its connections with payers within its Financial Healthcare Network(FHN) to manage electronic remittances and electronic fund transfers (EFTs) quickly and easily. HERAE anticipates continued and rapid growth for the company due to the recent healthcare reform bill mandates that call for a complete electronic payment system for healthcare by July, 2012. Cash management is enhanced by IntelliRemitâs payment interval tools that translate state and federal prompt pay laws and provider agreements into optimized payment timing while its remittance restructuring identify claims that need to be paid.
Availity health information network has selected HERAE electronic payment service to make available the Availity “Remit Manager.” The “Remit Manager” technology automates Electronic Remittance Advice (ERA) and Electronic Funds Transfer (EFT) management. In doing so, it provides users online access to human readable remittance information, as well as search, view, print and download capabilities. Availity provider customers can expect to experience measurable savings beginning with their first paperless payment transaction, because manual billing and payment-matching practices have historically been very time-consuming administrative tasks.
Alliance & Leicester Commercial Bank is rolling out a prepaid card
payments solution in response to the government’ plan to transfer
payment of housing benefit to claimants instead of landlords.
The change in the way housing benefits are paid came into force on 7
April, following the recommendations in the January 2006 Welfare Reform
Green Paper – Empowering people to work. The report was aimed at
financially empowering lower income tenants. The prepaid card solution
is particularly aimed at the 800,000 UK
citizens who receive housing benefit, while being classified as
“unbanked” (i.e. without access to a deposit or current account).
A prepaid card scheme will allow local authorities
to save up to 75 per cent of their processing costs for the payment of
housing benefits, as well as remove the on average cost of 10%
charge to the recipients when converting cheques to cash.
Innovative PA-based convenience store chain, Sheetz has launched a new card to combat gas station drive-offs while giving its loyal and honest cash customers a more convenient way to pay. The new “Pump First” card is being introduced in selected markets in Maryland and West Virgina. The new card is linked to the driver’s license to provide a method of identification, giving cash paying customers the freedom to start the pumps themselves, even if paying with cash or check for gasoline. To consumers with a valid driver’s license, the “Pump First” card is available free of charge and is being introduced in conjunction with revisions to the organization’s payment policy. Sheetz operates 350 c-stores in Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina.
Aconite EMV/smart card software has signed processing agreements
with Genia Technologia intent on serving the Brazilian payments market.
Aconite’s “FastTrack EMV” migration solution and GÃÂªnia Tecnologia
knowledge are projected to provide seamless EMV transaction
processing while Aconite’s “Smart PrePaid” application will afford the
rapid deployment of issuing and acquiring capabilities.
GE Money has renewed its consumer financing agreement with Thomasville Furniture. The no-annual fee Thomasville credit program provides various financing options that include the EasyPay, a low fixed interest program. With purchases of $1,500 or more, consumers can select a pre-payment plan for a period of 12, 24, 36, 48 or 60 months. In addition, the program provides dealers with a wide variety of revolving promotional offers to help meet the needs of their customers. Thomasville furniture is sold through more than 150 independently owned Thomasville Home Furnishings Stores as well as more than 400 leading independent retail stores.
U.S. Bank has purchased AIMS Logistics to operate as part of the “PowerTrack Payment Network” within its Corporate Payment Systems division. Under the purchase agreement, AIMS Logistics will operate as part of the PowerTrack Payment Network within the Corporate Payment Systems division of U.S. Bank. Terms of the purchase, which closed on October 1, were not disclosed. AIMS Logistics is a provider of freight audit and payment services. PowerTrack provides trusted commercial payment solutions for payables, receivables, freight, telecom, utilities, and global trade payments.
A new report shows that chargeback ratios for credit card
transactions have fallen dramatically to new lows. The average chargeback ratio is now 32 basis points, compared to 48 basis points one-year ago. Ratios for consumers from Germany is about nine basis points and for the rest of Europe about six basis points. All the results are based on the analysis of a representative selection of
around 30 million real-life purchase transactions processed through the
Pago platform between October 2005 and September 2006. Because Pago is a
credit card acquirer for VISA and MasterCard for the European license area, the transactions all originate from online shops in Germany, the U.K. and the rest of Europe. The new PAGO report also analyzes the E-commerce sectors retailing, gambling, services and travel and entertainment in more detail.