STMicroelectronics Intros New Wireless, NFC Technology

STMicroelectronics semiconductor is strengthening of its position in the NFC market by extending user’s ability to read, write and transfer information on ST’s dual-interface Memory to a broad range of industrial and consumer applications with its “M24LR64.” The “M24LR64” wireless memory can transmit and receive information from the heart of an application to a smartphone containing NFC technology or to an industrial RFID reader for rapid transmission. Additionally, the “Dual EE” app delivers full compatibility with “M24LR64” wireless memory, connecting an NFC-enabled smartphone to a prototype temperature recorder featuring ST’s unique M24LR64 wireless memory and demonstrates data transfer and storage.

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Panini Joins Banking Forum 2011

Panini global payments technology is set to exhibit at Banking Forum 2011, a financial technology event sponsored by the Instituto Internazionale di Ricerca, on September 27 in Italy. Panini will showcase their payments technology, including a state-of-the-art solution for remote deposit capture (RDC), developed in conjunction with Aktive Reply, a Reply Group company and leader in the Enterprise Information Management, with a strong focus on sensible data management and distribution in the financial environment over multiple communication channels, including RDC applications.

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Paymark Advises Merchants on Influx of Foreign Cards

Paymark is advising its network is ready to handle the increased payment activity for the 2011 Rugby Cup, but reminds merchants that due to the diversity of international card types and the way they are processed, there will be a few things to keep an eye out for at the point of purchase. It is advising merchants International visitors cannot get cash out with their EFTPOS purchases and will need to use an ATM. Moreover, if an international visitor attempts to use their credit or debit card at an “EFTPOS only” store their transaction will be denied.

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AUGUST CONSUMER BANKRUPTCY FILINGS DOWN 11% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] August consumer bankruptcies fell 11% from the year ago period with an overall consumer filing total having dropped to 113,432, from the August 2010 figure of 127,028 consumer filings. So far, each month of 2011 has recorded fewer bankruptcies than in 2010 (knock on wood). These findings, according to the American…

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Heartland & Marathon Expand Services

Heartland Payment Systems payments processors and Marathon National Bank of New York are partnering to offer area businesses best-in-class services that will enable them to improve their operations and increase profitability. With this, Heartland will offer Marathon’s clients credit/debit/prepaid card processing with competitive pricing and payroll processing through its “PlusOne” Payroll online payroll management system. Heartland is committed to educating business owners about the complexities of payments processing so they can effectively manage their costs. Heartland is the founder of The Merchant Bill of Rights (MBOR), a public advocacy initiative to promote fair credit, debit and prepaid card processing practices, and recently launched The Merchant Bill of Rights Payroll Act designed to promote fairness and transparency in payroll processing.

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American Express Gift Card Now Digital

American Express launched its “eGift Card” virtual gift card to be purchased and used online. With no fees after purchase”including no fees for activation, no fees for checking a balance, no fees for monthly servicing, and the funds do not expire, the “eGift Card” is available for purchase online at americanexpress.com/gift and is delivered to the recipient’s email address within minutes of ordering it. The American Express eGift Card can be redeemed online or via phone at U.S. retailers and restaurants that accept American Express Cards. The American Express eGift Card is available in denominations ranging from $25 to $200.

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FIS Commended With 2011 Awards

FIS banking and payments technology received two industry awards for its credit and debit card authorization and for its Everlink electronic transaction switching, ATM and POS solutions. FIS has been awarded the Service Quality Performance Award from Visa in the Issuer Processor, recognizing FIS as the issuer best able to ensure system availability to respond to authorization requests in a timely manner. Meanwhile, Everlink electronic transaction switching, ATM and POS solutions received a Silver award from Advanced Card Technologies (ACT) Canada for its Instant Card Issuance solution. The Instant Card Issuance solution provides financial institution branches the ability to quickly deliver a fully branded personalized card on-site in less than two minutes.

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Restaurant Implements POS Technologies For Operations

Utah’s oldest continually operating restaurant has deplyed POS Technologies to create, install and support a POS system for their establishment on its “Aloha” POS solution. The “Aloha POS” system provides Lamb’s with a powerful tool to manage all aspects of their operation, from simple input of a guest’s order to tracking of employee productivity. POS Technologies provides “Radiant/Aloha” POS systems with its local team of certified POS professionals, supporting nearly 400 hospitality establishments.

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SecurityMetrics Service Streamlines Merchant Federal Mandate

SecurityMetrics’ new TIN Matching Service helps payment processing entities recover and match merchant tax identification numbers (TIN) and legal business names to streamline the matching process for a subset of SunTrust Merchant Service merchant clients that have not yet validated with Internal Revenue Service (IRS) records. SunTrust Merchant Services selected SecurityMetrics’ “TIN Matching Service” to streamline the matching process for a majority of its merchants. In accordance with new U.S. Government regulations originating from the Housing and Economic Recovery Act of 2008, payment settlement entities will be required to withhold 28 percent of daily gross merchant payment card transactions if a merchant fails to validate their TIN with their reporting entity. At present, many merchant TIN numbers remain unvalidated with banks, and unreported to the IRS.

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NetLogic Microsystems Begins Shipments Multi-Core Processor

NetLogic Microsystems high-performance intelligent semiconductor solutions for next-generation Internet networks has started revenue shipments for its recently introduced XLP multi-core processors into the communications control plane market, which is estimated at approximately $1.5 billion. The control plane processing application represents a new market for NetLogic Microsystems’ XLP family of multi-core processors as previous generations of XLR(R) and XLS(R) families of processors were primarily targeted at the data plane processing market. The XLP multi-core processor is specifically designed with a best-in-class communications processor architecture supporting quad-issue, superscalar out-of-order execution, floating point processing, sophisticated branch handling and large on-chip caching. With this, 80% of NetLogic Microsystems’ leading customers are already actively designing with the XLP multi-core processors.

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FISC Solutions Appoints New President & CEO

Jerry Blodgett has been appointed President and CEO with FISC Solutions. To oversee strategic growth and business activities, Jerry will leverage FISC’s resources to provide customers secure, efficient back office solutions. He will focus on growing FISC’s position as a leading provider of remittance lockbox, caging and data entry services. Bringing with him more than 35 years of experience in the payments and financial services industry, specifically in sales, marketing and product development, Jerry has authored several payments industry articles published in American Banker, Bank Technology News and Advanced Imaging Magazine. Jerry received a Bachelor of Science degree in Agriculture and Resource Economics, as well as a Masters of Business Administration degree with a major in Business Administration, from the University of Maine, Orono.

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Marine Bank Expands Relationship with CSI

Springfield-Ill.-based Marine Bank and two affiliate banks, United Community Bank, Oakwood and Schuyler State Bank, Rushville, have signed a multi-year contract with Computer Services, for the full suite of CSI products and services, including core processing, item processing, card services and risk management solutions. Marine Bank ($580 million in assets) has been a CSI customer for two decades – a testament to both the service provider’s technology and customer service. The “NuPoint Portal” is a comprehensive core banking suite delivered via service bureau and supported by solution customization and training. By leveraging CSI’s infrastructure, resources and expertise, the banks eliminate the investments in hardware, software, and people associated with in-house systems; CSI Item Processing Solutions includes branch capture, remote deposit capture and complete mailing services including statement and notice rendering; CSI Card Processing is online/fully integrated solution to CSI NuPoint, including ATM terminal driving, 7/24 monitoring, fraud prevention and card access to regional and national networks; Risk Management Solutions, which includes iMonitor, a fraud prevention solution that detects potential money laundering by monitoring customers, accounts and transactions to identify high risk customers and electronically report suspicious activity.

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