Swipe Fee Regulation Wont Protect E-commerce

E-commerce merchants will not be safe under the latest Congressional legislation known as the Durbin Amendment. The legislation would direct the Federal Reserve Board to issue rules to ensure that debit interchange fees are reasonable and proportional to the processing costs incurred. This conclusion, drawn by IdealCost.com, a consulting firm that reduces credit card acceptance fees for merchants without switching their existing provider, indicates language in the Durbin Amendment is vague and misleading. Subsequently, because e-commerce businesses won’t save any money, IdealCost.com is suggesting Congress let the industry regulate itself.

Details

Ink from Chase Launches New Ad Campaign

Ink from Chase has launched its new broad-based advertising campaign focusing on its portfolio of business cards and customers, featuring actual “Ink” small business owners who will highlight card benefits that have impacted their bottom line. Major cable station media partners include Bloomberg, Discovery, ESPN, FOX News, History Channel, MLB on FOX, The Science Channel and The Weather Channel. Print ads will be featured in Inc., The New York Times, Wall Street Journal, Fast Company, Entrepreneur and MyBusiness. Ink from Chase is a portfolio of business cards offering powerful, flexible payment solutions and resources to meet the unique needs of small business owners.

Details

VeriSign Security Solutions Win 2010 Network Products Awards

Network Products Guide information technology research and advisory guide has named VeriSign “Identity Protection” (VIP) Authentication Service and VeriSign “Managed PKI Service” winners of the 2010 Best Products and Services Award. This respected annual award honors products and services that represent the rapidly changing needs and interests of the end-users of technology worldwide. As part of the tech-industry’s leading global awards program, this year’s Best Products and Services were nominated from all over the world. Following its win in 2008, VeriSign Identity Protection has been again selected the winner of Network Products Guide Reader Trust Award for best in multi and second factor security. The VIP Access for Mobile application was also the winner in the same category in 2009. This repeated accolade is a tribute to VeriSign’s commitment to provide best in class security solutions that exceed customer expectations.

Details

CPNI mP2P Payments Expand Availability Range

CPNI mcommerce has enhanced their “PATsend” person-to-person payment offering to provide bank customers, whose bank does not yet offer the service, to receive P2P payments. The “PATsend” solution can be integrated with existing online web portals. CPNI solutions have the ability to use multiple identifiers and multiple channels such as a mobile phone, the web or an ATM, which supplies the flexibility required to provide financial institutions with a comprehensive P2P solution. Unregistered recipients need only claim once, upon which can choose to become a registered recipient and discovered by all senders on the network. Consequent payments to them will be depositied directly into the the account they register with, even if their institution does not participate in the network.

Details

Xoom.com Ranks as Best Money Transfer Company

The Inter-American Dialogue released its “A Scorecard in the Market for Money Transfers” report, demonstrating remittance service providers are offering a variety of services and are expanding into more countries. Conducted by the Inter-American Dialogue (IAD), a U.S. center for analyzing remittance trends and services, also found an increase in product services such as cash-to-cash and cash-to-bank account as companies seek to be more competitive. Released on June 18, measuring 16 indicators, ranked Xoom.com as the best company for sending money transfers to Latin America and the Caribbean, outperforming 38 other U.S.-based money transfer companies. Xoom.com also received the highest score for customer satisfaction. Xoom.com ranked at the top in three of the five categories for customer satisfaction: fee transparency, foreign exchange transparency and customer value. In addition, the company tied at the top in the category of least expensive and was a close first in ease of use.

Details

ProPay adds New Members to Security Team

Chris Mark and Dr. Heather Mark, Ph.D. have been added to ProPay’s Data Security and Regulatory Compliance team. Chris Mark, CISSP, CPISM/A, CIPP, joins ProPay as the Executive VP, Data Security and Compliance to oversee data security and compliance initiatives and work with product development on improving the “ProtectPay” secure payment processing service. He brings with him experience gained with Qualified Security Assessors on behalf of the PCI SSC. Dr. Heather Mark, Ph.D., CISSP, CPISM/A, CIPP, has taken the role of Senior VP, Market Strategy. ProPay offers End-to-End Payment Security for credit card processing and electronic payment services.

Details

iPOS Restaurants & Network Intercept Launch Secure POS

iPOS Restaurants mPOS system provider and Network Intercept have teamed to launch a new POS system. Implementing Network Intercept’s “Secure-Me” solution to secure restaurant POS payments and provide the consumer with identity theft protection, the iPOS Restaurants’ POS systems will implement verification which encrypts all data and payment information from end to end. This gives the customer the highest level of protection against all known forms of identity theft attacks. With iPOS Restaurants’ new, secure POS system, customers can once again pay with a credit card without increasing their susceptibility to identity theft.

Details

Nakajima USA Deploys Retail Anywhere POS

Nakajima USA, master licensee for Sanrio Inc, has selected Retail Anywhere’s POS and Enterprise applications to support U.S. retail operations and future growth plans. Having a SaaS solution model and lower upfront costs was fundamental to this decision. Nakajima USA sought an integrated POS and retail management system that would improve operational efficiencies while reducing costs currently being incurred by its legacy POS software. Consolidated, real-time information at the corporate office with powerful reporting tools was also a top priority for the specialty retailer. The retail SaaS delivery model from Retail Anywhere includes a hybrid of on-demand and on-premise software along with professional services, upgrades, maintenance and support; all with minimal upfront costs and low monthly fees.

Details

Lending Club & Mint Offer Debt Reduction

Lending Club U.S. peer lending network has been engaged by Mint.com to help consumers get out of credit card debt faster, pay less interest and keep more of their money for what really matters. Lending Club is a strategic partner in Mint.com’s newly launched Goals feature, which helps Mint users get out of debt and save to meet their other life goals. Lending Club offers personal unsecured loans for paying off high-interest debt at rates starting at 7.93 percent APR; which is 53 percent lower than the overall national credit card APR of 16.81 percent* and can translate into thousands in savings over the life of a loan.

Details