Heartland Terminal Merchants hit 5,100 Milestone

Since introduction, 5,100 business owners across the country have purchased and deployed the Heartland “E3” terminal. Protecting their users with end-to-end encryption, this marks the largest number of merchants in the United States actively using this technology to secure their transactions. The “E3” terminal protects users by ensuring analog data on the magnetic stripe never enters the acquiring payments system in clear-text digital form. It safeguards card account information from the moment of card swipe and through the processing network to protect cardholder data, making it useless to cyber criminals. In response, Heartland is set to further its footprint with the launch of its “E3” magnetic stripe reader (MSR) wedge for PC-based payment applications. Designed to protect cardholder data at the point of swipe before the data reaches potentially vulnerable PC-based applications, the ‘wedge’ encrypts sensitive cardholder data in a tamper-resistant security module (TRSM) with state-of-the-art Advanced Encryption Standard (AES), Identity-Based Encryption and physical protections compliant with the PCI PIN Transaction Security (PTS) 3.0 standards.

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U.S. Bank FlexPerks Visa Loyalty Recognized

U.S. Bank’s FlexPerks Visa card program has now won a COLLOQUY Loyalty Award, which recognizes outstanding innovation in loyalty marketing. FlexPerks earned top honors in the Loyalty Innovation in Financial Services category for its pioneering approach to transitioning former U.S. Bank WorldPerks Visa customers to the new U.S. Bank FlexPerks Travel Rewards program. The inaugural COLLOQUY Awards honored the most innovative, customer-focused loyalty initiatives in North America. Award finalists were first chosen by loyalty marketing experts, with the final winners then chosen by COLLOQUY subscribers. U.S. Bank Retail Payment Solutions (RPS) offers credit, debit, and prepaid payment solutions to consumers and small businesses through U.S. Bank and in partnership with financial institutions, businesses, governments and employers.

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Fortune and AmEx Award Powerful Women

Fortune and American Express OPEN have chosen ten female small-business entrepreneurs to join the annual Fortune Most Powerful Women Summit, to be held October 4-6. The ten women will join 400 of the world’s most influential women leaders in business, philanthropy, government, education and the arts for panel discussions, on-stage interviews and interactive sessions over the course of three days. Two of the Most Powerful Women Entrepreneurs will join a panel discussion about how the best and brightest build businesses. That session will include Tory Burch, Co-founder and Creative Director of Tory Burch, and Susan Sobbott, President, American Express OPEN. Fortune Assistant Managing Editor Leigh Gallagher will moderate. American Express OPEN is the Founding Partner of Fortune’s Most Powerful Women in Small Business Initiative.

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73% of Small Businesses Hurt by Economy

The three-month consecutive drop in small business owner confidence skidded to a halt in September, having jumped from 73 to 73.8 on the Discover Small Business Watch. This follows a 14.4 May plummet as concerns grow over temporary cash flow issues, offsetting some improvement in the way small business owners see the climate for their own operations. Small business owners reporting temporary cash flow issues jumped to 46% for the month, down from 53% in August, while 50% do not and 5% are unsure. Additionally, 68% of small business owners rate the economy poor, up from 62% in August; 16% plan to increase spending, down from 17% last month; and 55% report economic conditions are getting worse for their businesses. This is most evident in the 71% waiting for the economy to improve before they do any hiring and the 73% having disclosed the economy has hurt their business.

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Metro Bank Launches Fee-Free Visa

Metro Bank has launched “America’s Next Great Credit Card” personal Visa credit card. Offering a 9.90% APR, no annual fees, no late fees and no balance transfer fees, the Metro Bank Personal Visa Credit Card. The average consumer credit card rate was 16.79% APR. Metro Bank’s credit card services also include online account access and a 24/7 live customer call center. Customers can apply by visiting their nearest Metro Bank store or calling the bank. Metro Bank has 33 stores throughout PA, offering seven-day banking, free checking, free instant-issue Visa debit card, free coin-counting machines, free online banking and 24/7 live customer service.

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mPayment Transactions to Hit $1.13 Trillion by 2014

In 2009, the total number of mobile payment users increased to 351.4 million and is projected to hit 1.06 billion in 2014 for a CAGR of 20.5%. Meanwhile, the gross value of mobile payments transactions was $37.4 billion in 2009 and is projected to hit $1.13 trillion in 2014. This data, according to MarketResearch.com, also shows 2009 SMS accounted for 76.4% of mobile payment transactions in 2009, which is expected to decline to 58.7% in 2014. This is part of the Company’s “3Q.2010 Global Mobile Payment Market Forecast, 2010 – 2014: Global mobile payments users to exceed one billion by 2014 with over $1 trillion in transactions taking place in that year.”

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WELLS FARGO REMITTANCE

Wells Fargo has added Banco De Oro Unibank and M. Lhuillier to the Wells Fargo “ExpressSend” remittance network, tripling its total payout locations to over 2,800 branches and 2,900 ATMs. BDO has over 700 branches, nearly 1,400 ATMS and was named the #1 commercial bank for Overseas Filipinos Remittances for 2008 and 2009 based on volumes. The bank has several rural bank partners and is part of the growing network of SM shopping malls throughout the Country, where customers may claim their remittances. BDO has nearly 2,700 remittance pick up locations around the Philippines.

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RDM EXEC

Randy Fowlie has been appointed to the RDM Corporation Board of Directors. Specializing in software and hardware products for electronic payment processing, RDM chose Fowlie for the position thanks to his extensive experience. He operated a consulting practice since 2006 after having previously held the position of Vice President and General Manager, Digital Media, of Harris Corporation software and hardware company. From 1998 to 2005 he served as Chief Operating Officer and Chief Financial Officer of Inscriber Technology Corporation, a software company acquired by Leitch in 2005. Previously Mr. Fowlie was a partner with KPMG LLP, Chartered Accountants, where he worked from 1984 to 1998.

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EVERLINK

Caisse Populaire Groupe Financier Ltée has selected Everlink Integrated Payment Solutions and Services as their service provider to process transactions. Signed as part of the Everlink Master Services Agreement, Caisse Populaire Groupe Financier Ltée joins financial institutions by entrusting their transaction processing to Everlink. This new multi-year agreement allows Everlink to provide a growing number of industry-leading products and services to a strong financial institution.

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VERSAPAY

VersaPay Corporation merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions has ranked 8th on the 11th annual PROFIT HOT 50 ranking, after achieving annual revenue growth of 1,107% from 2007 to 2009. The PROFIT HOT 50 is the definitive ranking of Canada’s Emerging Growth Companies. Published in the October issue of PROFIT magazine and online at PROFITguide.com, the PROFIT HOT 50 ranks young firms by two-year revenue growth. VersaPay’s financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions.

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ProPay Offers MACU Members Advanced Payment

ProPay End-to-End Payment Security, credit card processing, and electronic payment service is set to offer Mountain America Credit Union (MACU) members capabilities to conduct house payments, car payments and fund accounts using any Visa, MasterCard, Discover or American Express card through its “LenderPay” solution. With this, MACU estimates annual realized savings of as much as $20,000 by completely eliminating their transaction fees and costs associated with these payments. In Addition, ProPay’s “ProtectPay” end-to-end secure payment solution stores credit union members’ data in a PCI DSS compliant environment.

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VISA

Great-West Life enefits provider has signed an agreement with U.S.-based Evolution Benefits to develop Health SolutionsPlus Visa payment card for healthcare spending accounts (HCSAs). The Health SolutionsPlus Visa payment card, which will be made available in Canada for the first time through Great-West Life, will be loaded with a group plan member’s HCSA funds. The card will allow members to conveniently pay for covered health-related products and services from providers authorized by Great-West Life, using the provider’s existing Visa payment processing equipment. This will significantly reduce the need for plan members to pay upfront and submit paper or electronic claims for reimbursement, thereby decreasing out-of-pocket expenses.

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