Lecere Launches Credit Card Processing

Lecere software development has made available debit/credit card processing through its “FIRMS” software, which has been integrated with the iPay POS mobile processing solution for card payment acceptance. The iPay POS solution supports the iMag, uniMag, Daily Systems, and the P25-Mi reader/printer and card readers. iPay POS is currently compatible with 35 gateways, including Authorize.net E-Commerce, Authorize.net Retail, Authorize.net compatible gateway, Evertec, MerchantGuy, PayPal Website Payments Pro, PlanetAuthorize, RedFin, SkipJack, and 26 others. More are being added as they become available.

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Allied First Bank Implements IBT RDC

IBT financial services products and process innovation and customer experience has deployed its “I2RDC” remote deposit capture solution with IL-based Allied First Bank. The “I2RDC” remote deposit capture lets business customers electronically deposit right into their account at their convenience, providing images immediately available for viewing or researching through the I2OLB (Online Banking). TX-based IBT specializes in real time channel integration software applications with its unique design making all information available simultaneously across all delivery channels.

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First Data Patents Multiple Pre-Paid Card Activation

First Data payment processing has been granted U.S. Patent No. 7,822,640 for technology to activate multiple prepaid cards at the POS. The “Multi-card Bulk Package Identifying Activation Systems and Methods” patent covers technology that allows merchants to activate all of the cards within a multipack at once rather than having to individually scan or key in each number. Also First Data uses the technology to generate an additional account number for the entire package when multiple packs are purchased, which could be for open- or closed-loop cards.

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SAS Patents Fraud Detection Technology

SAS software and services received patent approval for “Computer-Implemented Predictive Model Generation Systems and Methods” for technology driving its “Fraud Management. The “SAS Fraud Management” platform employs a “Self-Organizing Neural Network Arboretum” (SONNA) modeling capability to build its unique hybrid approach to consortium and custom models. SAS Fraud Management offers significant improvement in fraud detection performance compared to the performance of regular, non-linear modeling techniques like neural networks. A “score-on-demand” process helps card issuers obtain updated scores based upon the passage of time. The SAS solution provides the creation of risk-based reason factor groups, giving an organization’s fraud operations and analytics groups more insight and context to the risks and reasons behind the model score – optimizing responses and automating actions to a high-scoring transaction.

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FSV Payment Systems Renews Pay-O-Matic Contract

FSV Payment Systems network branded prepaid debit card products and processing has signed a three-year contract renewal with Pay-O-Matic. This extends its current three-year relationship into 2014. With excella, POM boasts the largest and fastest-growing retail check-casher card program. POM employs a diverse acquisition and distribution strategy, and the program benefits from above-average direct deposit rates. FSV Payment Systems focuses on delivery of prepaid debit program management and processing services while Pay-O-Matic check cashing and financial service provider focuses on the under-banked market in New York State.

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Moneygram International Forges Recapitalization Agreement

MoneyGram International global payment services has entered into a recapitalization agreement with affiliates of Thomas H. Lee Partners to convert all of their Series B Preferred into common stock in accordance with the terms of the Series B Preferred, and Goldman Sachs will convert all of its Series B-1 Preferred into shares of Series D Participating Convertible Preferred Stock. The Recapitalization Agreement provides that THL and its co-investors will receive approximately 28.2 million additional shares of common stock and $140.8 million in cash, and Goldman Sachs will receive approximately 15,504 additional shares of Series D Preferred (equivalent to 15.5 million shares of common stock) and $77.5 million in cash as consideration for completing the recapitalization transaction. In addition, the Company is currently working with certain of its relationship banks to put in place a new senior secured credit facility comprised of a revolver and a term loan, which would refinance the Company’s existing senior secured credit facility and provide the funding for the recapitalization transaction.

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MasterCard Launches Global Fraud Prediction

MasterCard Worldwide is introducing the “Expert Monitoring Compromised Account Service” to issuing banks as an addition to its suite of Expert Monitoring Solutions. Offering next-generation fraud detection and prevention capabilities that help issuers reduce their fraud-related costs, “Expert Monitoring Compromised Account Service” offers a comprehensive, real-time view of Account Data Compromise fraud risk during authorization with an ADC Threat Score that predicts the likelihood that fraud will occur on accounts exposed to Account Data Compromise events. It evaluates transaction information for the exposed accounts, merchants at which the cards transacted, confirmed fraud on exposed accounts, and behavior of similar accounts with common Account Data Compromise exposures. Using this information, it predicts the probability of fraud over the coming 7 to 14 days”helping issuers to determine when, or if, to close the exposed account and re-issue a new account number to the cardholder.

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BOK Financial Deploys FIS’ Account Starter

BOK Financial has completed the first phase of its deployment of FIS’ “TouchPoint” solution. The “TouchPoint” System will support sales and account opening, teller operations, and maintenance functions ‘ all through a single integrated application. BOK Financial selected TouchPoint to deepen existing client relationships and add new customers, as well as reduce courier costs and front- and back-office expenses. TouchPoint makes this possible by providing an automated solution that features a total customer view with contact history, account relationships, current work in progress and cross-sell opportunities that can be tailored to fit each customer. The TouchPoint’s Teller module automates all monetary transactions, compliance requirements and administrative functions. In addition, the bank will realize significant cost savings as TouchPoint is pre-integrated with the bank’s existing core processing platform, FIS’ Systematics.

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ChargeSmart Appoints VP, Payment Solutions

Andrew Waskey has been appointed VP, payment solutions with ChargeSmart convenience fee-based card acceptance for organizations. To the role, Andrew will bring more than 12 years’ experience and will lead strategic planning to foster further growth of the company by identifying and implementing existing and new business-to-business customer and alliance partner relationships. He was also vice president of sales and marketing for Dalcom Consulting, where he developed and executed a marketing plan to increase brand awareness and drive new business; manager of business development for Payment Processing Inc., where he actively recruited software companies to meet business growth goals; and has served as director of business development at Global Payments as a relationship manager and unit manager before being promoted to an executive level.

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HID Global Delivers Gift Card Issuance Project

HID Global has introduced a pilot digital gift card issuance project at two Korean-based Home plus and Shinsegae E-mart with its “FARGO HDP5000” high-definition printer/encoders. With the HDP5000, the two retailers can now brand and customize gift cards for corporate customers and individuals, adding a level of personalization not available with conventional paper gift vouchers. The digital issuance of cards enables individuals and companies to create custom card designs using their own images, logos, personalized messages and other branding on the card.

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PayPal Deploys Service For Domino Online Payment

Domino’s pizza delivery has implemented PayPal for its online delivery service. Customers in the UK simply need to log in to their PayPal account once they’ve placed their pizza order, enabling them to pay just by entering their email address and password. PayPal is free to use on all Domino’s orders and is a great way for people to buy pizza for friends and family too – perfect if you’ve mouths to feed who are away at university or even if you just fancy treating someone to dinner. Domino’s link up with PayPal will be communicated to pizza lovers and PayPal users through a range of digital platforms including social media, email and online advertisements.

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FinArch Implements Liquidity Risk Solutions

Financial Architects (FinArch), will deliver its Liquidity Risk Calculation and Reporting solution as a global platform to one of the largest banks in the world with its “Financial Studio.” This provides the bank a common data architecture in which to store, manage and enrich data from all parts of the business. Data is enriched through a sequence of calculators, addressing Valuations and Cash Flow Analysis, Liquidity Risk Analysis – Gap Analysis, Concentration Risk and Ratio Monitoring. FinArch’s Simulation Engine caters for the up and coming stresses to be prescribed by the multiple regulators as the bank can stress their Liquidity Risk measures across multiple business scenarios.

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