VantageScore CEO to Sit on Federal Reserve Board

VantageScore Solutions President and CEO, Barrett Burns, has been named to the Federal Reserve Board Consumer Advisory Council. Bringing with him more than three decades of professional experience in risk and credit management, before VantageScore, Burns was the executive vice president heading the National Private Banking Group of U.S. Trust and a member of both U.S. Trust’s executive committee and the senior management team of its parent company, The Charles Schwab Corporation. He also served as executive vice president of Global Risk Management at Ford Motor Credit Company. He has also held senior positions at the consumer and commercial finance unit of Bank One and spent more than a decade with Citibank.

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Ready Financial Deploys FIS mFinance Mobile App

Ready Financial Group has added FIS’ “Mobile Financial Services” application to enhance their prepaid account offerings, in addition to its “READYdebit” Visa Prepaid Card and the recently launched FIS “READYdebit”-branded iPhone and Android application. The prepaid debit cards can be used globally anywhere Visa debit cards are accepted, including ATMs, to offer a traditional checking account debit card and bill pay without the worry of possible overdraft fees. Ready Financial Group currently utilizes FIS’ prepaid alerts which provide SMS messages alerting customers when funds are loaded or removed and, with the addition of FIS’ Mobile Financial Services application, can let its “READYdebit” Visa account holders perform financial transactions via their mobile phones. All card-related data handling is also PCI compliant.

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MOBEY FORUM

Bank of America, BNP Paribas and PostFinance have join officially joined the Mobey Forum not-for-profit organization for a sustainable and prosperous mobile financial services ecosystem. This was announced at the first meeting the Forum held for 2011, for which participating organizations can actively engage in the work of the association to accelerate the mass market deployment of mobile financial services. Specifically, Bank of America, BNP Paribas and PostFinance will contribute to dedicated task forces, workgroups and member meetings. Other participating members include banks, financial institutions, mobile network operators, mobile handset manufacturers, payment processors and vendors.

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nuBridges & Semafone Tokenize Call Center Fraud Prevention

nuBridges announced that it is partnering with Semafone to deliver new data protection solutions for call centers . Semafone’s payment security technology protects credit card numbers taken by telephone to combat call center fraud while nuBridges “Protect” Token Manager encrypts the data. Together, the partnership improves cardholder protection and takes order entry systems and other applications out of scope for the PCI-DSS compliance and audits. This is made possible with Semafone’s dual-tone multi-frequency (DTMF) technology, which allows customers to enter and masks credit card data via their telephone keypad instead of speaking it over the phone. Meanwhile, the nuBridges “Protect” Token Manager combines Format Preserving Tokenisation with strong local encryption, centralized encryption key management and logging in one platform-agnostic package.

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ControlCase Launches PCI DSS Scan Program

ControlCase launched its “Data Discovery” program directed at hotels to search for cardholder data in violation of PCI DSS requirements. Hotels can now download and license the ControlCase Data Discovery Scanner to scan for unencrypted PAN and other restricted authentication information (Track Data, CVV, CV2, etc) to eliminate the risk of data loss and exposure and PCI DSS non-compliance, for which ControlCase will refund the full licensing fee in the event that unencrypted PAN or other restricted data is not detected within the organizations’ environments. ControlCase integrates card data discovery within its PCI DSS certification methodology to reduce the risk of a data breaches and non-compliance with PCI DSS.

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VersaPay Retains Investor Relations Services

VersaPay merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions has retained Winnipeg-based SectorSpeak to provide its investor relations services. SectorSpeak focuses on introducing small to mid-cap public companies to brokers and institutional investors throughout Canada and Europe. VersaPay’s financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions. It serves more than 2,500 Canadian businesses with payment services and financial technology and provides the hardware, technology, infrastructure and support services that businesses of all types require to accept and process electronic payments from their consumers and clients.

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Payment Pathways Receives U.S. X2X Payment Patent

Payment Pathways privacy management solutions has been awarded Patent Number 7,831,490 by the U.S. Patent & Trademark Office for an Internet-based registry of openly accessible electronic payment addresses. Known as the e-payments “Greenlist” registry, the invention provides the user with a way to locate a virtual listing for payment addresses just as the “white pages” found phone numbers and physical addresses. Unlike current payment mechanisms, “Greenlist” allows people and businesses to pay directly from their bank accounts without having to stage money somewhere else first. Its Ultimately a pointer securely keyed to the actual financial institution accounts and routing information to solely expose the payment addresses of deposit-only bank accounts.

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Discover Offers More Cash Rewards Opportunities

Discover announced more seasonal opportunities for cardmembers to earn Cashback Bonus. From January 1 through March 31, Discover Cardmembers can sign up to earn 5% Cashback Bonus on up to $800 in travel and restaurant purchases. The category is the first of four rotating categories that change each quarter, giving cardmembers the opportunity to earn 5% Cashback Bonus all year long. After reaching the $800 spending limit for the quarter, cardmembers will still automatically earn up to 1% Cashback Bonus every time they use their cards. Other Discover reward opportunities include 5% Cashback Bonus; “Expanded Redemption Options”; and “ShopDiscover.”

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CreditCall Introduces Contactless Kernel to EMV Software

CreditCall has added Contactless.LIB contactless payment capability to its EMV Level 2 range of software Kernels. Terminal manufacturers and payment software developers can now quickly and easily integrate Contactless Kernel technology into their solutions to mitigate against the high cost of development and maintenance. The fully featured Contactless Kernel enables acceptance of Visa contactless and MasterCard PayPass enabled cards in retail and unattended environments. It meets all current Visa, MasterCard and EMVCo standards and allows support for additional contactless card schemes such as NFC. Contactless.LIB supports MasterCard’s PayPass M/Chip and M/Stripe in addition to Visa’s qVSDC and MSD functionality.

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Zions Bancorporation Offers Fiserv Check Recovery

Zions Bancorporation is making “Check Recovery” electronic check re-presentment service from Fiserv available to its business customers. This is designed to streamline and accelerate the recovery of bad checks and lost funds by automating the collection process. The Fiserv “Check Recovery” solution will provide Zions Bancorporation’s business customers with a free end-to-end solution for lost funds recovery and an optional POS check authorization component to reduce exposure to fraud and loss. Zions Bancorporation also implements Fiserv account processing, bill payment, ACH processing, cash supply chain management, risk and compliance and remittance.

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Monitise Launches its First mMoney Android App

UK-based Monitise Mobile Money solutions has launched its US mobile money app for Android handsets. The apps use the company’s “Globe” technology platform to offer account balance inquiries, mini-statements, money transfer and bill payment. The new apps complement the existing suite of text, secure browser and smartphone services provided in the US by Monitise.

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