Other Breaking News
In today’s CardFlash News Que: STERLING (EMV); ADS (Wayfair); JCB (Universal); and W.CAPRA (EMV).
MasterCard Aid Network
As the Pope’s visit is underway, MasterCard has launched the MasterCard Aid Network, an end-to-end, non-financial service designed to streamline aid distribution even in the absence of telecommunications infrastructure. Now, impacted populations can secure basic needs swiftly with the simple dip of a card.
MWMM
Two of the world’s largest operating systems launched major updates to their mobile payments solutions this month. Both Google and Apple now have a solid platform in Android Pay and Apple Pay to enable frictionless mobile payments with integrated loyalty features.
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.
Signifyd Raises $2mm for Frictionless Payment Validation
Signifyd fraud prevention raised $2 million in financing from Andreessen Horowitz, Data Collective, IA Ventures, QED Investors, Resolute.VC, Tekton Ventures and other angel investors. Signifyd was founded in 2011 by a team of risk experts from PayPal to address the complexity of payment validation. Between chargebacks, mistakenly declined orders, and countermeasure costs, the average e-commerce retailer loses 3.1% to fraud every year. Most large e-commerce merchants have teams of agents that arduously try to bridge the gap between the online identity a user presents and the real-life person he claims to be.
Adyen Announces Availability of Chip & PIN mPOS
Adyen global payment announced the European availability of its “Shuttle” payment solution, allowing merchants to accept Chip & PIN payments from a mobile device at the point-of-sale (MPOS). It is fully EMV compliant to provide infrastructure for POS payments, with all three channels directly connected to the Adyen back office, requiring only a single point of administration. Shuttle is a standalone MPOS device that connects to iOS and Android smartphones or tablets wirelessly via a Bluetooth connection. To use, shoppers simply key their pin codes into the device and the transaction is verified offline or online. Shuttle has been developed to bring complete mobility to point-of-sale commerce, accommodating everything from small specialist stores to medium-to-large sized and international businesses, enabling merchants to safely accept Chip & PIN transactions on any credit or debit card.
USA Technologies Shows Cashless Sales Up 84% Y/Y
USA Technologies released new data collected from its 2012 Knowledge Base Study that highlights the business-building benefits of cashless payment adoption realized by USA Technologies’ ePort Connect vending customers. Most notably, the study revealed an impressive 84% increase in average annualized cashless sales in terminals that had adopted the cashless option for longer than one year compared to terminals using the cashless option for less than a year. USAT evaluated data over a two and one-half month period from approximately 57,000 ePort Connect® cashless vending terminals across 39 different channels or industry sectors and customer types. From the 57,000 connections studied, USAT compared a subset of 27,000 terminals where ePort Connect service had been live for greater than one year (the “Mature Subset”) to 30,000 terminals that were in early adoption stage or had been live for less than one year with a cashless option (the “New Installations” subset).
Zynga Competes with PayPal on Prepaid Market
Zynga, the San Francisco social games publisher, has reached a partnership agreement with American Express to issue a prepaid debit card that could be used to redeem virtual credits, the two companies said. The partnership will help increase use of American Express’ digital payments platform Serve as the credit card issuer competes with online gateway…
uShip Deploys Payoneer Flexible Payment Platform
Payoneer global payments announced U.S. transporters on uShip.com can now access their payments within minutes. Providing payment immediately upon release of funds, Payoneer gives transporters access to its online transport marketplace and the capital they need wherever and whenever necessary. uShip transportation marketplace for vehicle, freight and household goods shipping markets launched uShip “Payments” payment system that helps carriers get paid quickly online. The Payoneer solution helps further expedite the payment process for transporters.
VoiceTrust and Speed Remit Partner
VoiceTrust digital payments and voice biometric solutions partnered Speed Remit Money Transfer. VoiceTrust is launching its remittance service in partnership with Speed Remit Money Transfer, allowing cardholders to remit money through 197 Speed Remit agent branches. Cardholders will receive discounted transfer fees by presenting their VoiceTrust/Speed Remit loyalty cards. VoiceTrust will simultaneously launch Cash Back for its payroll corporate customers. Cash Back will be earned on every remittance transaction completed by their employees, therefore helping the companies to reduce their monthly costs on the payroll card.
Compass Plus holds Sixth International TranzWare/TranzAxis User Group
Compass Plus, a global provider of retail banking software and electronic payments systems, recently held its International TranzWare/TranzAxis User Group meeting at the Furama Hotel Resort in Da Nang, Vietnam. Compass Plus’ sixth User Group brought together more than 110 delegates from 60 organizations in 20 countries around the world. The user group has been…
Fiserv launches retirement planning tool
Fiserv solutions launched its “Retirement Illustrator” interactive and collaborative retirement income planning tool. The “Retirement Illustrator” from Fiserv helps advisors present retirement spending requirements and distribution alternatives, overlaying risk events such as withdrawal, longevity, survivor needs and healthcare risks to ensure their clients’ greatest concerns are addressed throughout their planning and retirement phases. It provides financial professionals with the ability to forecast varying market conditions and the impact financial products can have on an investor’s retirement outlook.