S1’s Postilion has received VISA “Payment Application Best Practices” validation of its applications used by banks and credit unions. This validation by Visa USA and Visa Europe indicates that the Postilion solutions for ATM Driving and Merchant Acquiring handle cardholder data in a secure manner. Visa PABP defines application best practices that are considered to be the industry standard for the data security of payment applications. Visa designed this program to assist software vendors in developing secure payment applications that minimize security breaches and compromised card details. Using these secure Postilion solutions will help banks and credit unions comply with payment industry standards such as the Payment Card Industry Data Security Standard (PCI DSS). Visa Europe and Visa USA list applications that have received this validation on their web sites. Postilion, a division of S1 Corporation is a global provider of integrated solutions for self-service banking and payment processing.Details
Trintech has announced the availability of its software that enables users to automate, monitor, and document the effectiveness of the account reconciliation process. “ReconNET 7.4″‘s new account reconciliation lockdown features let clients close or “lockdown” specific time periods to ensure complete integrity throughout
the accounting, reconciliation and financial governance process.
“ReconNET 7.4” also incorporates support for current versions of Oracle and Microsoft databases and the Microsoft Windows “Vista” operating system.
GE Money and Modell’s Sporting Goods announced plans to offer a “Modell’s Most Valuable Player Platinum MasterCard” credit card and a private label “Modell’s MVP Credit Card” to customers at their more than 130 stores throughout the Northeastern US. The MVP program will enable cardholders to earn rewards at all Modell’s locations, and everywhere MasterCard is accepted worldwide, plus receive 15% off their first Modell’s purchase on the card. In addition to earning rewards, customers can receive exclusive cardholder offers, special sale events and discount coupons.Details
The 3rd man has established “SuperSearch”, a service allowing retailers
to share information regarding fraudulent activity. If a transaction is
rejected when conducted by a “SuperSearch” user, this information is
made available to all users and subsequently can prevent any further
attempts of fraud. This database scans 10 million transactions per month
and is composed of questionable details that may signal fraud such as email
addresses, delivery addresses, phone numbers and card numbers. In the
UK, The 3rd Man projects the prevention of between GBP 10-15million
per month in fraud for 2008 and an estimated GBP 20million saved over the 2007 Christmas period.
The Texas AG has filed lawsuits against Minnesota-based Lifetime Fitness and its subsidiaries for systematically exposing its customers to identity theft. Investigators with the Office of the Attorney General discovered that several Life Time Fitness facilities in the Metroplex area exposed customers’ personal identifying information by discarding customer records in easily accessible trash cans behind the stores. According to investigators, the records included names, addresses, Social Security and driver’s license numbers, and credit and debit card information. Because the defendants offer child care and youth recreational facilities, the discarded documents also included names and dates of birth of several minors.Details
NXGEN Payment Services has appointed Michael Jaffe, one of the
company’s founders, as Vice President of Global Marketing and New
Programs. Jaffe has more than 10 years experience in the banking industry
and, with this promotion, he will be working directly under the company
COO, Giuseppe Caltabiano, responsible for business expansion.
NXGEN is a multi-national provider of credit card processing in the
United States and Canada and is a registered Merchant Service Provider
(MSP) with CynergyData through Bank of America.
MS-based ATM manufacturer Triton announced the production launch of the an affordable, feature-rich stand-alone ATM. The new “RL2000” design is based on Microsoft’s “Windows” operating system and Triton’s “X2″ mainboard. The new ATM has increased memory capacity allowing for greater storage of journal data and advertising components. It also includes a standard 5.7″ VGA resolution color display or an optional 8” VGA resolution color display that supports improved advertising and screen customizing capabilities. Optional backlit high-topper or mid-topper signs are also available which improve the visibility of the ATM, ultimately leading to an increase in transaction volume.Details
Mashreq Bank will be deploying the Hypercom “Optimum M4100”
transaction terminal, also known as “The Blade”. Distributed by
Computer Network Systems (CNS), “The Blade” is a 32-bit wireless
signature capture device that is battery operated and requires no external modem, designed for the authorization of credit and debit card
transactions. Mashreq Bank serves 50% of households and over
9,000 merchants in the UAE. The bank has 47 Branches throughout the
UAE and Qatar and is among the fastest growing banks in the Middle
East with plans for expansion into Bahrain, India, Egypt, Hong Kong,
the United Kingdom and the United States. Hypercom provides
electronic payment solutions in over 100 countries.
Fuel card specialist Wright Express reported revenue for the second quarter of $86 million a year-on-year increase of 13%. Net income for the second quarter nearly doubled to $18.3 million, compared with 2Q/06. Total fuel transactions processed increased 3% from one-year ago to 63.1 million. Payment processing transactions increased 16% to 53.2 million, and transaction processing transactions decreased 34% to 9.9 million. The average expenditure per payment processing transaction was up 5% to $60.10 from $57.45 for the same period last year. Total MasterCard purchase volume grew 40% to $464.4 million, from 2Q/06. For the third quarter, revenue is expected to be in the range of $83 million to $88 million. For complete details on Wright Express’ second quarter performance, visit CardData ([www.carddata.com]).
Another eco-friendly rewards credit card has been introduced, this time by Atlanta-based Fintura Corporation and MetaBank. For every net dollar spent using the “GreenPay MasterCard” credit card, five pounds of CO2 will be retired. For every net dollar spent on gasoline and household utilities, 10 pounds of CO2 will be offset. New cardholders will automatically earn a new account activation bonus equivalent to 10,000 pounds of CO2 offsets-the average annual CO2 emission of a car in the U.S. These offsets will be retired upon the first purchase made using the card. Two weeks ago GE Money launched the “Earth Rewards Platinum MasterCard” that contributes up to one percent of card purchases to buy greenhouse gas emissions offsets. (CF Library 7/25/07)Details
Contactless specialist ViVOtech has picked up NCR as a new investor as it raised more than $22 million in its third round of funding. First Data lead the new funding which also included new investors Miven Venture Partners and one undisclosed Fortune 500 company. Return investors in the Series C round included Alloy Ventures, DFJ Gotham, Draper Fisher Jurveston, and Nokia Growth Partners. ViVOtech has more than 280,000 NFC units in 25 countries including movie theaters, QSR, casual dining establishments, convenience stores, gas stations, drug stores, grocery stores, buses, taxicabs, kiosks and vending machines. NCR says it will use ViVOtech contactless payment technologies to allow consumers to make contactless payments with RF-enabled credit or debit cards and NFC-related mobile phones. Also, NCR and ViVOtech plan to collaborate to enable the inclusion of contactless and NFC mobile transaction technology in NCR’s next-generation platforms for a variety of applications.Details
The deployment of MasterCard “PayPass” into vending machines is expanding under a new deal with Coca-Cola Enterprises. Up to 7,500 “G-6 e-Port” terminals from USA Technologies will represent the broadest single deployment of the cashless vending terminals to date. The deal more than doubles the number of “e-Port” terminals installed in Coca-Cola system vending machines in the USA. MasterCard says it is beginning to see a steady increase in average purchases across the board in the 6,000 “e-Port MasterCard PayPass” accepting machines that it deployed over the past nine months. Coca-Cola Enterprises will install the new terminals in selected vending machines in the Atlanta, Boston, Chicago, Denver, Las Vegas, Miami, New York and Seattle markets.Details