Multicard Steps Up mPayment Deployment

Multicard credential solutions, identity management and system integration services expanded its “Cashless Betalen” mobile payment solution deployment. The “Cashless Betalen” solution allows users to manage their accounts easily and use their mobile devices to perform actions such as checking account balances, transferring funds and depositing, monitoring and making payments. Its interface can be securely accessed with any Internet connection via computer or mobile device. Currently, Multicard also offers apps for Apple and Android phones. In addition, Multicard is providing digital wallet customers with secure near field communications (NFC) tokens that enable mobile phones and other devices to be used to make cashless payments. Multicard is working with Rabobank’s 145 branch offices in the Netherlands to share marketing information and to provide training on making mobile payments with Cashless Betalen.

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INGENICO P2P Encryption PCI P2PE Compliant

Ingenico payment solutions’ “On-Guard” point-to-point encryption (P2PE) solution on its “PCI PTS V3” payment terminals is P2PE compliant. The P2PE compliant solution will greatly help merchants to reduce the scope of their PCI DSS assessment, as well as their audit and security implementation costs, and will ensure the protection of their customer account data over their networks. PCI SCC mandates the use of an SRED (Secure Read and Exchange of Data) certified device. Ingenico manages all sensitive operations of its P2PE solution from a secure infrastructure which is already PCI DSS V2.0 certified and provides Payment Transactions Services for over 150 retailers worldwide.

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Durban bus system Installs NFC Payment

The introduction of Durban’s first large-scale cashless transit tariff system, in the form of the public transport smartcard, is set to redefine the way commuters here pay their bus fares. The smartcard will be rolled out to commuters using the city’s buses early next year. Initially the Muvo card will be used on Durban Transport buses only but as the IRPTN is phased in, the smartcard will eventually be usable on all modes of public transport, including trains. The IRPTN is intended to make eThekwini Africa’s most liveable and caring city by the year 2020.

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Travelex Launches Chip and PIN FX Card

Travelex non-bank foreign currency provider launched a prepaid foreign currency card for Canadians available in U.S. Dollar, Euro and British Pound Sterling with its “MasterCard Cash Passport.” Reloadable and replaceable, the “MasterCard Cash Passport” offers a convenient alternative to carrying large amounts of currency while travelling overseas, compatible with the chip-and-PIN technology. The card is not connected to the cardholder’s bank account, minimizing the risk of identity theft in the event the card is lost or stolen. Travelex does not charge ATM fees while “Cash Passport” makes the option of preloading travel money before leaving Canada and electing to not carry large amounts of currency even more appealing.

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Chase Paymentech Protects Payment Card Data

Chase Paymentech merchant acquirer and payment processor kicked-off its “Safetech Encryption” in Canada to help protect merchants and consumers from payment card fraud and data theft for POS retail customers. The “Safetech Encryption” technology is meant to secure cardholder data for card-present transactions and eliminate the processing, transmission and storage of unprotected payment card account information on retailers’ systems. The encrypted data is then transmitted to Chase Paymentech, where it is decrypted and processed through the payment brand networks.

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Western Union Aids Earthquake Relief Effort

Western Union Company global payment services activated a limited-time “No Transfer Fee” program for money-transfers sent to Turkey Earthquake Zone city of Van from its Agent locations. Additionally, the Western Union Foundation today also donated $50,000 to the Turkish Red Crescent in support of disaster relief efforts. The Western Union Foundation will match registered employee donations to the Foundation designated for the Turkish Red Crescent, on a two-to-one match for U.S. employees and three-to-one match for employees outside the U.S., up to $100,000 per employee.

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Chase COF Consistent – Performance 2% Better Than Industry Averages

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After having peaked in the first quarter of 2010, Chase card charge-offs have dropped very consistently ever since. Sitting at only 4.7% of total card accounts, Chase Card performance is above par, with the industry standard averaging about two percentage points greater when it comes to charge-offs. From the 1Q/10 peak,…

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Final Distribution Made in Visa/MasterCard Antitrust

Three nonprofit groups will split nearly $1.75 million in the final distribution in the landmark antitrust settlement over Visa and MasterCard-branded signature debit cards. Fifty percent of approximately $1.75 million remaining in the settlement fund will be donated to the American Antitrust Institute (AAI), while the remaining funds will be split evenly between U.S. PIRG Public Interest Research Group and Consumers Union of the United States. The 2003 settlement stopped Visa and MasterCard from forcing merchants to accept Visa and MasterCard-branded signature debit card products as a condition of accepting Visa and MasterCard credit cards.

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AccountNow & MoneyGram Offer Prepaid Remittance

MoneyGram International and AccountNow prepaid card marketer forged partnership agreements, allowing AccountNow as the first U.S.-based prepaid card program to provide MoneyGram’s money transfer products as an online agent beginning November 2011. This lets prepaid cardholders send money in 10 minutes to any MoneyGram location in the world from AccountNow’s web site. AccountNow customers can register online to access MoneyGram’s global money transfer network from the same site used to manage their accounts and send money anywhere.

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BlackBerrys MasterCard PayPass Approved

The BlackBerry Bold 9900 and BlackBerry Curve 9360 smartphones are the first SIM-based NFC smartphones certified by MasterCard Worldwide as PayPass-approved devices.The certification was granted on the basis of the BlackBerry smartphones meeting the functionality, interoperability and security requirements of MasterCard. Now any MasterCard PayPass-issuing bank globally will be able to deploy MasterCard PayPass-enabled accounts to the SIM card of these smartphones. This lets customers use certified BlackBerry smartphones for NFC payments.

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ACI Partners Bridgehampton National Bank

ACI Worldwide payments systems announced Bridgehampton National Bank selected its “Enterprise Banker,” “Mobile Enterprise Banker” and “Proactive Risk Manager” to deliver comprehensive online banking and fraud prevention and detection for all its personal and business customers. This offers the bank a single solution to deliver fully functional online banking services to its consumer and business customers, with availability from mobile devices, and with comprehensive security for all online banking, ACH and wire transactions. Additionally, every ACI solution met the Banks requirements.

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U.S. Bank Partners Garda Cash for RDC

U.S. Bank’s Remote Cash Deposit service is now available to businesses through its new partnership with Garda Cash Logistics, which provides secure cash transportation and cash management solutions for business customers. U.S. Bank implemented the “CashLINK” for its business customers, allowing them to utilize RDC to deposit cash electronically from store locations, consolidate depository accounts with one bank, reduce armored transportation expense and decrease the risks associated with collecting cash.

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