CardWeb.com’s CardExecs database of payments industry movers and shakers today features Bryan Murphy, President of YapStone.
CardWeb.com’s CardData database of Company Profiles today features YapStone.
Empower Software Technologies has integrated its “Storage Commander” V4 and V5 with PPI Managed Payer Data and PPI PayMover Encrypted Swipe from Payment Processing integrated payments. Elements of PPI’s Point-2-Point Cardholder Data Security Program, the Managed Payer Data and Encrypted Swipe technologies protect payment data through all stages of processing and play a critical role in bolstering PCI compliance for self storage operations. The “Storage Commander” utilizes Managed Payer Data for recurring business, allowing the storage of credit card data on PPI’s secure servers, significantly reducing risk for the self-storage operation and the customer.
The Merchant Services Network has become a Self Storage Association “Partner” obtaining access and visibility to SSA’s 6,000 member companies. By bundling benefits, SSA sponsorship programs are a more convenient approach for vendors than the fragmented model of past years. SSA Partner sponsorships are limited to eight (8) companies; the Partner program is for a two-year period and is business category exclusive. Merchant Services Network is a full service, ISO/MSP of First National Bank of Omaha, Omaha, NE, a member bank of the Visa & MasterCard Association.
GE Capital Services reported this morning that revenues for its card services segment rose by only 1% during the second quarter, from $956 million for 2Q/01 to $962 million. Net earnings for card services declined by 6%. Net earnings for card services was $176 million for the second quarter compared to $187 million one year ago. For the first half of 2002, GE’s card services revenues have slipped by 10% from $2.0 billion to $1.87 billion. However net earnings year-to-date for card services increased by 6%, from $364 million for the first half of 2001 to $387 million for the first six months of 2002. Overall, GE’s second-quarter 2002 earnings grew 14% over second quarter 2001 to $4.4 billion, the highest of any quarter in the Company’s history. For complete details on GE’s 2Q/02 performance visit CardData ([www.carddata.com]).
U-Haul International has awarded ECHO a bid for the U-Haul ‘Check Fee Saver’ program. The program includes check guarantee, check re-presentment and check verification services for its independent dealers who participate in the U-Haul ‘Preferred Dealer Program’. ECHO developed and manufactured the software and hardware that provide inventory processing services for U-Haul dealers. ECHO also processes and supports the daily transaction activity for more than 15,000 dealers and was recently awarded the bid to offer credit card processing to U-Haul independent dealers who participate in the ‘Preferred Dealer Program’.
Freedom Systems, a leading provider of e-payment hardware and software solutions, announced an agreement that will provide access to MasterCard’s Remote Payment and Presentment Service for its customers who access bills via unattended terminals in public locations.
Currently, customers access the terminals to pay their bills with a debit card. Now, customers will have increased access to billing information, including their account balances and history.
MasterCard’s RPPS program provides participating financial institutions flexible connectivity to process transactions without capturing or storing consumer or biller relationship information. Through the agreement, MasterCard will act as a bill presentment and payment “hub,” offering Freedom Systems’ customers the ability to view their bills electronically through MasterCard’s network.
“By leveraging MasterCard’s existing payment relationships through its Remote Payment and Presentment Service (RPPS), this collaborative effort allows Freedom Systems’ customers to receive greater access to bills than ever before,” said Cathleen Conforti, vice president, Remote Payment and Presentment Service for MasterCard. “MasterCard’s 14 years of experience, along with its proven payments network, risk management and customer service infrastructure, enable Freedom Systems to leverage MasterCard’s expertise, customer base and market knowledge.”
“Both Freedom Systems and MasterCard look for innovative ways to offer customers unique and flexible access to their bills. MasterCard’s expertise and payments network have allowed for the natural expansion of our payment services, which will offer the customers we serve even greater flexibility than before,” said Brian Spagat, CEO, Freedom Systems. “We’re pleased to be a part of the MasterCard RPPS offering.”
MasterCard started electronic payment processing in 1987 with the launch of its Remittance Processing Service (RPS). In March of 2000 MasterCard expanded its services adding bill presentment functionality. To reflect the enhancement, the program was renamed Remote Payment and Presentment Service (RPPS). By leveraging MasterCard’s proven infrastructure, RPPS currently leads the industry in electronically processing remote consumer payments.
About Freedom Systems
Freedom Systems is the worldwide leading provider of unattended, online e-payment terminals and control systems for a variety of markets. Freedom Systems’ terminals are designed to accept credit and debit cards, and/or cash and also offer detailed reporting and interfacing to accounting systems. Some of the markets Freedom Systems has developed and placed systems for include the petroleum industry and car washes, laundromats and apartment laundries, as well as apartment complexes and self-storage facilities for rent payment. Freedom Systems, Inc. is based in Chicago, IL can be reached at 1-888/537-8844 or through its website at www.freedomsystems.com.
About MasterCard International
MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at www.mastercard.com.