BBVA Compass Deploys Fiserv P2P payment

BBVA Compass is now offering customers the “ZashPay” P2P payment service from Fiserv. This allows BBVA Compass customers to send money easily to anyone with a U.S. bank account using only the recipient’s e-mail address or mobile number, which is deducted directly from the sender’s banking account and deposited into the recipient’s account. The “ZashPay” service makes Simple Personal Payments a great option for a wide variety of our customers’ payment transactions, from large expenses, such as rent payments, to smaller transactions between family and friends. The service makes it turnkey for a parent to supply a college student with additional funds or to contribute money to a teacher’s gift fund, without needing checks, stamps or cash.

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IFX Forum to Lead Collaboration on FX Standards

The Interactive Financial eXchange Forum is prepared to take a lead role in a collaborative effort to develop enhanced electronic remittance standards, following its active participation in an invitation-only workshop held June 28-29 at the Federal Reserve Bank facility in Chicago. The objective of the workshop was to better understand issues and options for improving remittance data exchange and automated reconciliation of payments, especially in the United States. IFX Forum President Richard Urban addressed the participants concerning the Forum’s activity in the area of remittance, both on its own and with respect to work on ISO 20022. This will be to develop a standard approach for electronic remittance delivery suitable for all sizes of businesses.

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Compass Plus Launches System Performance Monitoring Module

Compass Plus retail banking software and electronic payments systems made available its “Performance Monitoring Module,” allowing real-time monitoring for its “TranzWare Online” generation of comprehensive data. The “TranzWare Online” platform was designed for the switching, parametric routing and authorization of electronic payment transactions as well as terminal network driving. The Performance Monitoring Module allows a system administrator to have instant access to the complete set of system performance data. System performance messages are recorded in the event log and built-in personnel alerts notify the appropriate staff members in emergency situations.

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Union First Market Bank Launches m-Banking

Union First Market Bank has launched three mobile banking offerings for mobile web, text message banking and an iPhone application. With this, iPhone customers can download the Union First Market Mobile Banking app from Apple’s App Store. Union First Market Bank’s online banking customers with access to mobile web browsers can visit m.bankatunion.com to access their account information. Customers who want to bank via text messaging can set up this service within Online Banking.

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CFPB Issues Rules for Investigations, Enforcement, Disclosure, and State Notifications Procedures

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Consumer Financial Protection Bureau (CFPB) published four interim final rules in the Federal Register on July 28, 2011, to establish its procedures for investigations, administrative enforcement actions, and disclosure of information to third parties, as well as procedures state officials must follow to notify the CFPB of enforcement actions they…

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Global EPOS Shipments Up 11% in 2010

As the global EPOS market is recovering from the recession, programmable EPOS terminals shipped worldwide increased by 11% in 2010 to 1.38 million while total installed base of terminals reached 10 million. However, according to new research by RBR, the challenging economic climate is leading some retailers and hospitality operators to operate their EPOS terminals for longer than usual before replacement. IBM accounts for 22% of global programmable EPOS terminal shipments, leading the market in North America, Latin America, western Europe and the Middle East and Africa (MEA) while Wincor Nixdorf is the second largest supplier worldwide, and the largest supplier to the central and eastern European (CEE) market. Globally, Wincor Nixdorf is followed closely by NCR, which has a strong presence in the Americas and MEA.

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Commidea Protects Call Center from payment risk

Commidea integrated Semafone’s contact center software with its payment gateway, improving payment processing safety for without compromising customer service. This ensures contact center agents do not come into contact with any customer card payment details, by masking them as they are entered and sending them directly through to Commidea’s PCI DSS level 1 certified processing infrastructure for processing. During a phone transaction, customers enter payment details on their telephone keypad, which produce non-traceable monotonous beeps, while the call centre agent remains on the line to ensure the payment is processed correctly. Tokenisation from Commidea is also used to ensure that the merchant has no need to store sensitive card details on its system.

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YESpay International and Itim software Deploy e-charity box

YESpay International and Itim launched its software for the “Pennies” the electronic charity box, which lets consumers round up their card purchases to the nearest pound and make a micro-donation to charity. Since the first retailer launch in November 2010, 577,000 consumer donations have been made through Pennies, raising GBP136,000 for a total of 18 UK charities-mostly made have been 10p or less. YESpay has incorporated the ‘Pennies solution’ into its payments software which is supplied to partners and merchants. Itim has integrated the YESpay application with the Itim point of sale and back office software. This additional functionality has enabled The Entertainer to implement Pennies simply and quickly in its stores. It will also make Pennies implementation simple for other YESpay and Itim merchants, allowing them to easily and cost-effectively participate in a growing micro-donation movement which is proving popular with UK consumers and starting to make a difference for charities too.

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Elavon and China UnionPay Ink Processing Agreement

Elavon global payments provider and wholly-owned subsidiary of U.S. Bancorp and China UnionPay bankcard association set forth binding agreement to facilitate debit and credit card acceptance at Elavon’s merchants in the United States and Europe, eventually to extend to Elavon’s Canadian and Latin American merchants. The agreement extends Elavon’s end-to-end processing control, giving merchants direct connectivity to UnionPay while leveraging Elavon’s secure, world class international processing platform to provide merchants with the benefit of a single point of service for processing, funding, settlement and reporting for all Visa, MasterCard, American Express, Discover Network and UnionPay transactions.

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Text2Pay Announces Direct Billing Expansion

Text2Pay Mobile payments announced direct billing on Rogers, Bell, Fido and Telus providers, allowing mobile phone users to purchase goods and services online billed directly to their mobile phone account. Customers’ mobile phone accounts are billed securely, using a two-factor PIN/ZIP code authentication for each transaction. Not only is this transaction method convenient and easy to use, the use of Text2Pay is more secure than using a credit card transaction. The Text2Pay mobile payment platform enables merchants and mobile developers a simple, effective way of monetizing their online offering or adding depth to their current payment options.

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Vijaya Bank joins m-payments service

Vijaya Bank joining the Inter-bank Mobile Payment Service (IMPS) as 25th Member bank is a major development in mobile payment system. All major banks are now under IMPS and in a position to offer to their customers a remittance service which is unique in the world. The beneficiary gets an SMS notification of his/her account having been credited and the sender receives an SMS notification for his/her account been debited. The customers who have subscribed to mobile banking service are automatically offered the facility to receive the money.

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