Wirecard Presents Tokenization Server

Wirecard AG payment processing is presenting its latest tokenization solution at ITB 2012. This offers end-users to cut costs and the effort involved in data-conform audits in line with the PCI DSS requirements, while end-to-end integration in the company’s software ensures that data stored locally are only available as a token, unauthorized access to sensitive card data is thus impossible. Wirecard AG’s tokenization modules can also be freely configured and existing systems do not have to be adjusted.

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Corporate One To Implement Fundtech ACH

Fundtech global transaction banking solutions announced an agreement with Corporate One Federal Credit Union for the purchase of its “CASHplus” and “PAYplus-ACH” services. This will furnish its members ACH payment, replacing the APEX-ACH platform offered through U.S. Central Federal Credit Union (the wholesale provider of financial services to the corporate network) with a solution that will offer several enhancements, and have pricing that is more favorable to its members.

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FSS Launches EMV/Smart Chip Program

Financial Software & Systems (FSS) electronic payments announced its “Smart Start” program will let US card issuers implement smart card technology into their operations in less than 4 months. The Smart Start program is a full-function chip life cycle management system which manages the issuance and administration required for successful smart card deployments. Current FSS Card Management customers have already leveraged this technology to manage millions of cards.

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FSS Launches EMV/Smart Chip Program

Financial Software & Systems (FSS) electronic payments announced its “Smart Start” program will let US card issuers implement smart card technology into their operations in less than 4 months. The Smart Start program is a full-function chip life cycle management system which manages the issuance and administration required for successful smart card deployments. Current FSS Card Management customers have already leveraged this technology to manage millions of cards.

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RetailMeNot.com Shows V-day Disconnect in Men and Women

RetailMeNot.com online coupon site released its Shoppers Trend Report via a survey conducted by Ipsos (www.ipsos.com) that while 50% of consumers intend to spend $100 or less on their significant other this Valentine’s Day, another large percentage of consumers don’t intend to spend anything on their significant other this holiday. To those planning to buy, sites that sell candy are experiencing almost 3.5 times their typical traffic relative to overall site activity while sites that sell flowers are experiencing almost 3 times their normal traffic relative to overall site activity. However, RetailMeNot.com’s Valentine’s Day Survey, conducted by Ipsos (www.ipsos.com), found that men just don’t seem to be in tune with the wants and desires of their significant other this holiday. The survey shows 21% of women preferred gifts of jewelry, while only 16% of male respondents said they intended to purchase jewelry for Valentine’s Day.

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IRS to Track Credit and Debit Card Purchases More Closely

To help combat underreporting, banks and credit card payment providers are now required to report gross annual payments processed by credit or debit cards to both the Internal Revenue Service (IRS) and to merchants on Form 1099-K, “Merchant Card and Third Party Network Payments.” Small business owners may want to evaluate their bookkeeping and accounting practices to ensure there are adequate and effective systems in place to reconcile the information reported by banks and credit card payment providers with their own records. Any discrepancies in reporting should be addressed to ensure that accurate tax returns are filed with the IRS.

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Fiteq Dynamic Authentication Now on Mag-Stripe

FiTeq Technologies launched the first payment card that incorporates an approved EMV payment applet in combination with the FiTeq Energizer Stripe enabling a unique cryptogram (FiTeq Transaction Specific Code) to be created within the magnetic stripe data packet for each transaction. This solution ensures dynamic authentication whether the card is used at EMV terminals or legacy magnetic stripe terminals. Regarded as the optimal means to prevent losses from skimming and Account Data Compromise (ADC), both of which can result in counterfeit account usage, Dynamic authentication will potentially save institutions billions of dollars per year by providing a fraud protection solution that is unparalleled in the payments industry. FiTeq is privately held and has their licensed patented technology already in each of the over 100 million U.S. contactless cards already in use by American Express, Discover, MasterCard and Visa.

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USA Cash Now Offers Debit Cards for Payday Loans

USA Cash Services announces a new platinum debit card for Nevada payday loans and Utah cash advance services. The first card is free for loan customers. The company has partnered with a national debit card company to offer the debit card, which is accepted at over 1 million merchants worldwide. Merchants accepting the debit card include STAR and PLUS ATMs, grocery stores, fast food restaurants, gas stations, the post office and more. The debit card partner does charge usage fees but USA Cash Services will give the customer $1.50 with every approved debit card loan.

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P2P Cash and Gust Win Startup Challenge

SWIFT financial messaging provider announced that P2P Cash Technology and Gust have been awarded “Top Startup” and “Top Innovator” from the inaugural Innotribe Startup Challenge Regional Showcase. P2P Cash Technology won the title of “Top Startup” with innovation in financial transactions, having developed a highly scalable mobile financial services solution that brings secure, low-cost banking functions to the unbanked consumer via the mobile phone and proprietary cash management system. Gust won the title of “Top Innovator” with innovation in the sourcing and managing seed and early-stage equity investments.

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NatPay Extends Hours for ACH Customers

In order to accommodate a thriving West Coast customer base as well as provide valuable processing time to customers in all time zones, NatPay (National Payment Corporation) recently adopted a new operating schedule that gives payroll administrators more time to process their payroll. NatPay is better able to accommodate growth into larger segments of the payroll processing ACH market. NatPay is one of the nation’s largest independent Direct Deposit service providers and is one of the nation’s leading providers for all ACH distribution solutions.

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