Associa Joins PCI Security Standards Council

Associa community association management firm has joined the PCI Security Standards Council as a new participating organization and will work with the Council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards. Associa will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards and become part of a growing community that now includes more than 600 organizations. Associa serves its clients with local knowledge, national resources and comprehensive expertise.

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Adeptra Launches Smartphone mBanking App

Adeptra auto-resolution technologies has announced its “MobileDirect” fully-interactive mobile application. Available in Q3 2011, “MobileDirect” mobile application will bring real-time fraud, collection and marketing communications to consumers’ smartphones. It will add pure mobile as a fourth communication channel and complement Adeptra’s existing voice, SMS/text and email capabilities. With a fully tokenized capability, the application will also offer direct pay options to process consumer payments. Adeptra’s MobileDirect will be available as a standalone application that can be branded by banks and card issuers. It will enable banks and card issuers to meet consumer demand for personalized real-time mobile communications, and offer timely and convenient smartphone applications to notify consumers of important account alerts, including potentially fraudulent transactions, account authorizations, account updates, core servicing as well as payment reminders.

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InsurCard Virtual Card Allows Insurers to Save Costs

InsurCard prepaid cards to pay P&C insurance claims, is expanding its prepaid card products with its own “Virtual Card” for making electronic claim payments to medical, auto repair, home contractor, and other P&C service providers. The InsurCard “Virtual Card” makes paying providers faster and less costly than checks to benefit both insurers and their service providers with rapid, safe payments. By using the InsurCard Virtual Card, insurers eliminate check printing, mailing costs, and the risks and time delays associated with mailing checks. The inclusion of an Explanation of Payment puts the InsurCard Virtual Card ahead of competing electronic payment methods. The new InsurCard Virtual Card and Explanation of Payment is clear and concise so healthcare and other service providers will not be confused as to what bills have been paid. There are no implementation fees and no transaction fees to the insurer.

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eGift Cards Boost Mother’s Day Sales

CashStar gifting and incentives company shared eGift Card sales trends across more than 100 leading retail brands from the 2011 Mother’s Day holiday period (May 2-8). Based on aggregated data from consumers making purchases across the CashStar platform, personalized eGift Cards once again proved to drive major sales spikes during holiday shopping seasons. Key Sales Statistics for the 2011 Mother’s Day Season show eGift Card sales increased 123% between Monday, May 2 and Mother’s Day, May 8 (as compared to the week prior); Saturday, May 7 was the biggest selling day in terms of monetary value, representing an increase of 434% (as compared to the day before Mother’s Day in 2010); and Mother’s Day sales figures were up 453% year-over-year, and the number of individual cards sold that day was up 434%.

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Western Union Expands Business Solutions

The Western Union Company global payment services is set to expand its international business payments service in the Philippines, in partnership with Petnet. Petnet will offer Western Union Business Solutions across the Country, which includes cross-border business payments and foreign exchange solutions to small and medium sized businesses (SMEs). By adding Western Union Business Solutions to its product portfolio, Petnet can offer SMEs service delivery for global business payments at competitive exchange rates, to over 200 countries and territories.

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Denarii Systems Names New Chief Executive Officer

Juan Santaella has been named Denarii Systems’ CEO. Santaella was the Director of Debit Products for MasterCard’s Latin America and Caribbean Region (LAC) and has extensive experience in the stored value space, having served as Vice President of Business Development with the former WildCard Systems, a prepaid processor now part of Fidelity National Information Services. He was also the CEO of CashX, had an accomplishing career at Visa International, where he led the Latin America regional debit and prepaid development efforts, launching Visa Electron, and other pre-paid products, such as Visa Cash and Visa Travel Money. He holds an MBA at Babson College, and is a graduate of the University of Miami.

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Unemployment & Credit Outstanding Jump, Dark Cloud Hangs

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.4 trillion in outstanding US consumer debt, total outstanding revolving credit edged up for the first time this year by 2.9% to total $796.1 billion. This was strikingly coincidental with the seasonally adjusted unemployment rate in April, which was up for the first time since November to 9.0%…

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USA Technologies Revenue Up 50% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies 1Q/11 (Fiscal 3Q) revenue was up 50% to $5.5 million from $3.7 million. Meanwhile revenue from recurring license and transaction fees increased 79% to $4.3 million compared to $2.4 million for the quarter a year ago. This is due in some part to the Company having increased the number…

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Verifone Launches Intelligent Checkout System

VeriFone Systems introduced “PAYMEDIA Solutions” subscription-based payment solutions for small to medium-sized merchants for deployment in June. Giving access to payment-enabled media at the checkout counter, including the integration of online services such as digital couponing, loyalty, location-based social media and value-added services, “PAYMEDIA” allows ISOs, acquirers and other resellers to equip merchants with a true “intelligent checkout” capability that integrates traditional payment with discounts, rewards and coupons. It builds on VeriFone’s “PAYware Connect” intelligent gateway services to integrate traditional payment authorization with non-traditional payment-enabled media and services that accommodate consumer mobile phones. VeriShield Total Protect, Secured by RSA, provides an end-to-end encryption and tokenization solution to alleviate PCI compliance issues.

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American Express to Sell Gift Cards in U.S. Post Offices

American Express will begin selling Gift Cards in more than 1,800 U.S. Post Offices as part of a pilot test beginning in June, the first time Gift Cards are being sold in U.S. Post Offices. The American Express Gift Card will be available in multiple designs in the $25, $50 and variable load denominations, allowing denominations of between $25-100 for a cost of from $3.95 to $5.95. They cost no fees after purchase, no fees for activation, no fees for checking a balance, no fees for monthly servicing, no fees for card replacement, and the funds on the cards never expire, so there are no dormancy fees and can be redeemed at U.S. retailers and restaurants that accept American Express Cards.

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First Data Executive Committee Appoints New VP

Mark Herrington has been appointed First Data executive vice president, Global Product Management and Innovation and is now a member of the company’s Executive Committee. Herrington has been leading Global Product Management and Innovation at First Data since early 2011 when the company consolidated its product groups into one globally aligned organization. He already served in numerous leadership roles as First Data, including general manager of the company’s former Retail Solutions division with responsibility for overall P&L performance within this line of business, which included prepaid, TeleCheck, eCommerce and merchant loyalty after having co-founded Money Network in 2001. Prior to Money Network, he was executive vice president of the Americas for i2 Technologies, a Dallas-based enterprise software provider.

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Intuit GoPayment Launches mNFC Payments

Intuit has developed a concept demo for its GoPayment mobile credit card processing application using NFC at the Google I/O developer conference in San Francisco on May 10-11. Built on Google’s Android mobile platform and using NFC technology with Nexus S by Google, Intuit has transformed its existing GoPayment mobile credit card processing application into one that transfers credit card data via radio waves, eliminating the need for the actual card or any add-on card reader hardware. The GoPayment NFC application adding inventory to completing a sale. To add an item to inventory, a small business owner would simply tap their phone against a product with a smart tag. All information on that product would then appear in the mobile payment application. Customers could also pay for products using a virtual debit card residing on their phone. To complete the purchase, the customer and small business owner would simply touch their phones together, eliminating the need to swipe a credit card. Plus, no actual credit card information is exposed during the transaction further protecting this sensitive data.

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