edatanetworks has announced Jerry Bulger has been appointed as the President of Next Generation Loyalty USA, a wholly owned subsidiary of edatanetworks. Most recently having served as the VP of Business Development at TSYS Acquiring, Bulger, will be spearheading NGLâs expansion in the United States and international markets. Bringing with him over 19 years’ experience, Jerry has provided strategic and financial advice to a wide variety of financial institutions, merchant acquirers, third-party processors, merchants and associations throughout the United States. He is also a leader in new product development, product strategy, business case analysis, and benchmarking and operations improvement of registered card and card loyalty programs.Details
MBNA has launched the “American Airlines AAdvantage American Express Credit Card” that offers a competitive rate of interest plus a range of unique rewards through the exclusive American Airlines AAdvantage travel rewards programme. Every customer spending GBP250 within the first 90 days of opening an account will receive a sky high 5,000 AAdvantage bonus miles. By using the new AAdvantage credit card, customers will earn three AAdvantage miles for all supermarket, petrol and American Airlines purchases within the first six months of the account opening. Other card purchases or purchases made after the first six months will earn 1.5 AAdvantage(R) miles for every GBP1 spent. The card will offer 0% on all American Airlines flights purchased with the card for 12 months from the date the account is opened, and customers will be eligible for a range of exclusive promotions throughout the year. The new American Airlines AAdvantage American Express credit card offers 0% on balance transfers and money transfers for six months from the date the account is opened.Details
Monitise mobile banking and payments provider has achieved over 2 million registered users for its services in the UK and the US, driven by increased uptake of its smartphone apps. In the UK, Monitise has partnerships with major retail banks including HSBC, Lloyds TSB, first direct, NatWest, Royal Bank of Scotland, and Ulster Bank. In the US, Monitise Americas provides mobile banking and payments services to over 200 financial institutions including banks, credit unions, and prepaid card issuers. In June of 2009, Monitise signed a five-year Global Alliance Agreement to supply its Mobile Money Manager platform to Visa Inc., which has 1.7 billion card-holders across the worldDetails
CIBC has introduced an innovative mobile banking experience for clients using an Internet-enabled BlackBerry or another smartphone.
These further innovations follow the launch of the CIBC Mobile Banking App for iPhone in February, which made CIBC the first major bank in Canada to launch a mobile banking App for iPhone. The App surpassed 100,000 downloads in just over one month following launch, and continues to grow rapidly in popularity, with over 1 million client logins to CIBC Mobile Banking since its introduction.
CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients.
Itron announced today that Azerigas Production Union (PU), dealing with
transmission, distribution and sale of natural gas in the territory of
Azerbaijan Republic will implement Itronâs integrated smart payment
solution in the capital city, Baku. This new project will include the installation of smart payment meters,
together with Itronâs Eclipse prepayment management software allowing
consumers to purchase meter credit with their smart cards through a
network of vending channels including self service terminals.
Itron will deliver smart payment meters and smart cards, along with Itronâs Eclipse Enterprise Edition,
the prepayment management software. Deliveries will take place during
the coming year, starting in March 2010, as a part of a phased
nationwide roll-out plan by the Azerbaijan Government. Through the implementation of Itron’s smart payment system, Azerigas PU aims
to provide convenience to the consumers by improving the level of
utility services rendered.
TSYS Acquiring Solutions will provide authorization and capture services to Central Payment Co. (CPC) transaction processing. This allows Central Payment to leverage TSYSâ flexible and efficient technology, and benefit from a wide array of cost-saving and revenue-generating products and services. Central Payment is currently boarding more than 1,700 merchants a month through TSYS. TSYS outsourced payment services offers a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies. Central Payment Co. (CPC) transaction processing services provides credit card processing and a host of other electronic payment solutions to more than 35,000 small, medium and large businesses.Details
Enterprise software provider Progress Software has
added a compliant and cost effective data privacy solution to the
“Progress OpenEdge” SaaS platform to enable full life-cycle data encryption that, for example, complies with
the latest Payment Card Industry (PCI) regulations, an important
requisite for the ongoing expansion of Cloud Computing. The Progress OpenEdge Enterprise RDBMS now
supports Transparent Data Encryption (TDE). TDE encrypts data on disk,
whether the data is in the database, a backup, or a binary dump, and
stays encrypted throughout its lifecycle. It uses industry-standard
encryption libraries and adheres to payment card industry data security
standards, which are important for every company that processes, stores,
or transmits credit card information, or any company with a Merchant ID.
ATM& POS processor Switch Commerce’s Mobile Terminal Management System (MobileTMS) is now available
on the Apple App store for iPhone and iPod touch users. MobileTMS
includes a secure comprehensive ATM portfolio
management component, for the Company’s customers, and an ATM locator
available to anyone who carries an iPhone or iPod touch.
With the iPhone’s GPS capabilities, MobileTMS App users can quickly find
multiple ATM terminals close to their current location. ATM terminals
can also be found by searching for a specific zip code. Surcharge
amounts are displayed along with the terminal’s address, distance in
miles to the terminal’s location, and a convenient link to Google Maps
for more detailed directions.
High Meadow Business Solutions has deployed Payment Processing’s “Point-2-Point” Security solution with RetailEdge POS software version 8.1. The PA-DSS validated solution with encrypted swipe has been delivered to eleven businesses. Integrating seamlessly with the PPI “PayMover” hosted payment service “Point-2-Point” utilizes Magtek “MagnaSafe” technology using open standards technology to encrypt credit card track data within the reader, ensuring the merchant’s POS system never handles clear text cardholder data. Encrypted track data is decrypted upon reaching PPI PayMover, which communicates with the processor in a secure manner and returns the transaction status to the POS. Meanwhile, RetailEdge 8.1 is a validated Payment Application Data Security Standard (PA-DSS) application, compliant with PCI DSS and provides a host of valuable features for businesses: gift card and loyalty programs, deposit tracking, integrated PIN debit, hundreds of new reports, and integrated credit card processing.Details
JPMorgan Chase reported Card Services net loss of $303 million for 1Q/10, compared with a net loss of $547 million in the prior year. This was thanks in part to lower provision for credit losses, partially offset by lower net revenue. End-of-period managed loans were $149.3 billion, a decrease of $26.9 billion, or 15%, from the prior year and $14.2 billion, or 9%, from the
prior quarter. Average managed loans were $155.8 billion, a decrease of $27.6 billion, or 15%, from the prior year and $7.4 billion, or 5%, from the prior quarter. Managed net revenue was $4.4 billion, a decrease of $682 million, or 13%, from the prior year. Net interest income was $3.7 billion, down by $793 million, or 18%. Noninterest revenue was $758 million, an increase of $111 million, or 17% thanks to a prior-year write-down of securitization interests, partially offset by run-off from the Washington Mutual portfolio. The managed provision for credit losses was $3.5 billion, compared with $4.7 billion in the prior year and $4.2 billion in the prior quarter noninterest expense was $1.4 billion, an increase of $56 million, due to higher marketing expense.
1Q/08 $609 million
2Q/08 $250 million
3Q/08 $292 million
4Q/08 -$371 million
1Q/09 -$547 million
2Q/09 -$672 million
3Q/09 -$700 million
4Q/09 -$306 million
1Q/10 -$303 million
TrustCash Holdings is compliant with the PCI scan validation requirements. PCI compliance
signifies network devices are compliant with the remote vulnerability
audit requirements of the Payment Card Industry Data Security Standard
(PCI-DSS), Visa USA’s Cardholder Information Security Program (CISP),
Visa International’s Account Information Security (AIS) program,
MasterCard International’s Site Data Protection (SDP) program, the
American Express Data Security Standards (DSS), and Discover Card’s DISC.
The TrustCash platform is a comprehensive online
payment processing system that provides merchants with open
access, PCI compliant payment processing.
eMerchantPay online credit card processing provider has launched its latest gateway technology for US merchants, offering a user-friendly interface to provide merchants access to reporting functions. On a robust reporting system created to save clients time and help them earn more money, the new interface from eMerchantPay provides customizable settings that allow merchants to see the full scope of their sales data in real time which can then be easily exported into document files for collaborative discussions with staff, financial planners and other in-house professionals. Instant descriptive error messages, field description comments and fine-tuned error checking in real time also help to make the new eMerchantPay interface the simplest to use.Details