ViVOtech & DeviceFidelity Launch mContactless Payment

ViVOtech NFC m-payments, loyalty applications and contactless NFC readers has partnered with DeviceFidelity microSD based m-contactless solutions have partnered to make available contactless mobile payment, loyalty, transit, ticketing and coupon redemption on select smartphones. Designed for use on multiple Blackberry models and iPhone 3Gs, the joint solution allows ViVOtech’s mobile wallet software, OTA provisioning solution, and coupon issuance/redemption software to be deployed with DeviceFidelity’s NFC-enabled “In2Pay” microSD and “In2Pay Case” for iPhone technology. This allows consumers to plug the “In2Pay microSD” into their smartphones, download multiple credit and/or debit cards securely to their handsets, and use their phones to perform contactless transactions. Users can also request electronic coupons and discount offers, store them in their mobile wallets, and electronically redeem them at time of purchase.

Details

CMI Up to 53.3 After Falling For 3 Months

Keeping up with the constant fluctuation seen since December 2009, the latest “Credit Managers’ Index” was up for the month of August to 53.3, after having fallen 1.1 points to 53.0 in July. The “Index” showed a dramatic decline from the levels in April, since which point the “index” has been on a slide. Indicators did gain remarkably since the year ago figure of 48.1, struggling to reach the all-important 50 mark. The reduction in credit applications, however, indicates that there is less willingness to lend and that companies seeking credit are being put through more hoops than in the past. The number of additional disputes and delinquencies also suggests that some sectors of the economy are still struggling. NACM noted the credit system has not healed and it may be some time before there is a sense that the biggest issues are behind the economy. There are some shoes left to drop, most notably the commercial property sector.

AUG 09: 48.1
SEP 09: 49.8
OCT 09: 51.0
NOV 09: 52.3
DEC 09: 52.9
JAN 10: 55.1
FEB 10: 55.2
MAR 10: 55.7
APR 10: 56.5
MAY 10: 55.9
JUN 10: 54.1
JUL 10: 53.0
AUG 10: 53.3

Details

SunTrust and eBillme to Host Alternative Payments Stream

eBillme will be sponsoring an industry Webinar titled How Banks and Merchants can Leverage Alternative Payments for a new Revenue Stream on Thursday, September 16. Contribution will come from the First Vice President of the Enterprise Payments Strategy Group at SunTrust Bank, who will share some of the highlights of their alternative payments pilot program with eBillme, online shopping allowing users to pay with cash using online banking and walk-in locations. Financial institutions and online retailers will learn why SunTrust pursued alternative payments; the objectives and results of the SunTrust and eBillme pilot program; revenue sharing opportunity for banks; and pportunities for online retailers to increase sales at the checkout.

Details

Paymetric Launches Card Industry Blog

Paymetric integrated and secure enterprise payment acceptance solutions has launched its “Payments U” blog for the payments industry. Having assembled a cabinet of select industry experts that will write about the latest payments industry news, trends, regulations and solutions, as well as engage in ongoing dialog with readers, Payments U include industry notables from Maritz; the Double Diamond Group; Morris Advisors; Optimized Payments Consulting; ThoughtKey; Merchant360; VeriFone; and High Bit Security. Paymetric provides integrated and secure enterprise payment acceptance solutions that enable companies to streamline the order-to-cash process, reduce the scope and financial burden of achieving PCI compliance and improve return on electronic payment acceptance.

Details

CITOPAY

Citopay Internet Payment Service Provider has renewed its PCI (Payment Cards Industry) certification for the years 2010/ 2011. For accepting online credit card transactions, including refund, void, capture and recurring transactions; Card data needs to be sent only once to Citopay’s Secure Payment Gateway, when submitting the transaction to Citopay’s Payment Gateway the first time, Citopay will send (on request) a “Unique Transaction ID” back to the online merchant which can be used for further transaction billing. By receiving this “Unique Transaction ID” we identify the merchant’s online merchant account, the consumers personal data and the consumers credit card information.

Details

Cap One & Discover Lead Increasing Industry Stability

Capital One and Discover are able to release capital from loan loss reserves indicating a positive shift for lenders. Loan loss reserves are still high but are trending downward. Improved credit policies are providing stability now but the repercussions of federal financial reform are making the future an uncertain one for credit card companies. As a result of this, companies lobbyist spending the first half of the year surged by about 25%. Lobbying spending has been aimed at refining some of the rules being finalized. Credit card fees for debit and credit transactions are among the key legislative points that concern credit card companies.

Details

ADITYA BIRLA MINACS

Aditya Birla Minacs has been certified as PCI-DSS compliant as a Level 1 Service Provider. Minacs is now in a select group of about 15 entities globally that are deemed certified and listed as such across multiple jurisdictions. This current certification spans both North America and the Asia Pacific regions. Aditya Birla Minacs business solutions company partners with global corporations in the manufacturing, retail, telecom, technology, media and entertainment, banking, insurance, healthcare and public sectors through 16,000 Minacs experts across 3 continents and 32 centers.

Details

Credit Card Use Projected to Fall Below 50% of Payment

The recession has produced a risk-adverse cautious consumer whom prefer to pay-now with cash, checks, debit, prepaid and gift cards at a higher rate. This leaves credit card use plummeting, given among the 11% of consumers with an increased ability to save, 46% have decreased the use of their credit cards and 51% have decreased their spending on discretionary goods. This, according to the Javelin Strategy & Research report “Payment Card Issuer Strategies 2010: The Rise of the Cautious Consumer,” also shows credit card use among consumers decreased 31% between 2007 and 2009 from 87% to 56%, respectively, and is slated to fall below 50% while 80% of consumers cited “no annual fee” as the most important criterion when choosing a new credit card.

Details

EUROCLEAR EXEC

Euroclear has appointed Lieve Mostrey Executive Director, Chief Technology and Services Officer. Having began her career in 1983 within the IT department of Generale Bank in Brussels, moving to operations in 1997, eventually to become country manager for Fortis Bank Belgium, Mostrey was most recently appointed COO with Fortis Bank where she has sat since 2008. She was also a Non-Executive Director of the Boards of Euroclear PLC and Euroclear SA/NV between 2006 and May 2010. With her latest appointment, Mostrey will become a member of the Euroclear Group Management Committee and an Executive Director of the Board and will oversee all technological and operational aspects of the business.

Details

Patent Office to Examine InComm Patent, Per Blackhawk

Blackhawk Network prepaid and financial payments announced InComm’s “e2Interactive’s” US Patent No. 7,578,439 (the ‘439 patent) is being reexamined by the United States Patent and Trademark Office (USPTO). In a complaint filed in the United States District Court for the Western District of Wisconsin, InComm has alleged that Blackhawk infringes the ‘439 patent. Blackhawk denied that it infringes and alleged in defenses and counterclaims that the ‘439 patent is invalid and unenforceable. On June 28, Blackhawk also requested that the USPTO reexamine the ‘439 patent on the grounds that the claims of the ‘439 patent should not have been issued and that substantial new questions existed regarding the patentability of those claims.

Details

USA Tech Improves Ranking as POS Terminal Shipper

USA Technologies has improved its ranking as a leading shipper of POS terminals to 6th in US for 3rd successive year and ranks 31st worldwide. This, according to the Nilson Report, comes after USA Technologies ranked 34th for the previous two years. The USA Technologies’ ePort Connect service provides a one-stop shop for wireless, unattended cashless transactions technology, handling everything, from account set-up and management, to 24×7 customer support. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.

Details