NC POS Bill

The North Carolina state Senate has unanimously approved a bill that prohibits merchants from printing a customer’s complete credit card number or its expiration date on a receipt. If passed by the House, the law would require all cash registers and payment terminals installed after March 1, 2004 to be compliant. Existing registers and terminals will have to be complaint by July 1, 2005. In March, VISA unveiled a new account truncation program that requires U.S. merchants to eliminate all the digits of a cardholder’s account, except the last four, as well as the card’s expiration from store receipts. The policy will go into effect July 1st, and in its first phase, affect all new payment card terminals. MasterCard has already adopted a truncation policy which goes into effect in two years. (CF Library 3/7/03)

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COF Risk Officer

Capital One has named Laura Olle, currently SVP of Corporate Control and Governance, as Chief Enterprise Risk Officer for Capital One. Olle’s new position will centralize on executive management oversight of the company’s enterprise risk management activities, and will be responsible for independently monitoring, analyzing and reporting on key corporate risk areas to include strategic, operations, legal and compliance and managing regulatory relationships.

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Plan 529 Card

Boston-based State Street Corporation and its Schoolhouse Capital division have launched “The Education Plan 529 Advantage” credit card. While “The Education Plan 529 Advantage Rewards” program itself is new, the technology and infrastructure behind it are not. The program is offered by Vesdia Corporation, creators of the “BabyMint” retail network, in partnership with MBNA. In addition to earning up to 20% in “529 Advantage Rewards” through purchases made with participating retailers, participants will earn rebates at the rate of 1%, based on all new retail purchases made with “The Education Plan 529 Advantage” credit card.

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SARS IMPACT

American Express is launching an ad campaign and special incentives to encourage Singaporeans to get out of their homes and start spending again following the SARS epidemic. Meanwhile, HSBC Bank Malaysia reported this week that its credit card volume plunged 20% since the outbreak in mid-March. Most credit card issuers serving the Singapore market have reported a 25% decline in credit card volume during April, however, there are indications that volume rebounded by about half in May, to bring the year-over-year decline to about 15%. American Express announced earlier this week it will launch a $15 million “Step Out and Spend” advertising campaign, to be spread out over the summer months. AmEx also announced a dining promotion to award triple points between June 2nd and September 30th on top of previously announced dining discounts. A few weeks ago AmEx began offering discounts of up to 50% off at many restaurants in Singapore. The Singapore Tourism Board also is launching a major advertising campaign as well as special discounts to visitors. There are currently four million VISA and MasterCard payment cardholders and 400,000 American Express cardholders in Singapore.

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Parlay and PayCircle

Two consortia working in the fields of network-independent applications and of payment applications, Parlay and PayCircle, announced their collaboration and – as a first result – a co-branded specification called Parlay X Web Services APIs. This specification combines the efforts of Parlay in allowing third party applications to get integrated into 3rd generation mobile networks as well as into many other types of networks using an open payment interface.

Therefore, Parlay X Web Services APIs support the mobile industry and web service providers in delivering value added services to their subscribers. These services are seen as the basis of commercial success of 3rd generation mobile networks. For the mobile market the co-operation of PayCircle and Parlay is an important sign of de-fragmentation since several industry consortia are working in the field of m-commerce. The specification is available for download at: [www.parlay.org/specs/index.asp][1].

The Parlay Group was formed to encourage the development of open application programming interfaces (APIs) that enable the use of applications that operate across multiple networking platforms. Through this collaboration with the Parlay Group, parts of the PayCircle mobile payment APIs have been integrated into the Parlay specification.

“We are delighted with the success of this collaboration effort between PayCircle and the Parlay Group,” said Zygmunt A. Lozinski, Parlay Group President and Telecom Solution Executive, IBM. “Working together over the past year, our organizations have created a specification that enables whole new types of applications for service providers. We are looking forward to this work continuing with PayCircle.”

“PayCircle is pleased to be working together with the Parlay Group to harmonise standardisation and implement additional functionality in this important payment area. In this regard PayCircle believes that Parlay / OSA is an important partner in driving open standards and interoperable web services across the world,” says Hans Wolf, PayCircle President & VP Siemens IC mobile.

PayCircle believes that open and interoperable “payment APIs” are the key to market growth for mobile Web Services. PayCircle has developed and published a PayCircle Payment Web Service Specification and a Reference Implementation for this specification. The specification contains WSDL sources and XML schema definitions to meet the requirements of today’s mobile application developers. With this Reference Implementation PayCircle proved that mobile payment has become a reality for various business scenarios. The PayCircle scenarios outline actual mobile payment applications and services for electronic goods like MP3 files, video clips, subscription based online magazines, streaming video/radio channels or on-demand gaming, as well as for interaction with point of sale terminals or vending/ticketing machines. The PayCircle specification also supports implementation of these applications on any Java enabled infrastructure utilised by the providers.

PayCircle and Parlay expect that their common specification will meet the requirements of general standardization. Therefore, it is aimed to submit the specification to other standardization bodies.

About PayCircle

PayCircle is a non-profit organisation including companies like CSG Systems, Hewlett-Packard, Oracle Corporation, Siemens and Sun Microsystems as PayCircle Board Members. PayCircle membership is open to anyone who is active in the mobile payment market such as application developers, payment service providers, merchants, content providers, manufacturers of payment systems, suppliers for mobile infrastructure and mobile devices, network operators, banks, credit card companies, and others. The PayCircle consortium was formed January 2002 to define standard APIs for mobile payments, regardless of the payment systems used by application or service providers. This open approach guarantees that the necessary interfaces can be developed in a co-operative manner.

Additional information about PayCircle is available at [www.paycircle.org][2].

About the Parlay Group

The Parlay Group is a multi-vendor consortium formed to develop open, technology-independent application programming interfaces (APIs) that enable the development of applications that operate across multiple, networking-platform environments. Parlay integrates intelligent network (IN) services with IT applications via a secure, measured, and billable interface. By releasing developers from underlying code, networks, and environments, Parlay open APIs allow for innovation within the enterprise. These new, portable, network-independent applications are connecting the IT and telecom worlds, generating new revenue streams for network operators, application service providers (ASPs), and independent software vendors (ISVs).

[1]: http://www.parlay.org/specs/index.asp
[2]: http://www.paycircle.org

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VF EMEA

VeriFone has added two new members to its EMEA management team. Richard Crookston, formerly with ACI Worldwide and past chairman of several of the APACS standards development committees, has been named Head of Marketing. Robert McLaughlin, formerly with Cybernet and Hypercom, has been named Sales Director. Next week, VeriFone will feature fourteen “VeriFone SC 5000 Partners” at the Retail Solutions conference and exhibition. The partners will showcase their “Chip and PIN” smart migration solutions alongside VeriFone. VeriFone software partners include Anderson Zaks, Anker, BCP, Commidea, Comms XL, Mosaic, and Epsilon. “SC 5000 Partners” in the UK also include Alphameric, Fujitsu, Integral, NSB, Retail Logic, Servebase and Torex.

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Instant Debit Card

The Trust Company of New Jersey has introduced the first instant-issued photo/signature debit card. The bank digitize and emboss both a photograph and signature within minutes. While the headquarters is offering the new service, Trustcompany will use a phased implementation, with 30 branches offering the service by July and all customers of the Bank are expected to have access by the end of the summer. Trustcompany Bank’s technology partners include Dynamic Solutions International, SQN Banking Systems, Aurum Technology, and NYCE.

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BARCLAYCARD CAMS II

Barclaycard has inked a five-year contract to deploy Computer Sciences Corporation’s merchant acquiring and card issuing solution. The agreement marks the first time that Barclaycard has moved responsibility for the technology behind its merchant acquiring business to a third party. As the largest independent card processor in Europe, Barclaycard will implement CSC’s “CAMS II” solution as well as incorporate “CSC e4” integration architecture to create a universal business process management environment. The “CAMS II” platform supports multiple products including debit cards, credit cards, smart cards and consumer loans. Because of its open architecture, it can support future strategic initiatives involving practically any card or electronic-oriented transaction, including payroll cards, stored-value cards and virtual cards for Internet purchases. In 2001, 1.4 billion purchases were made with credit and debit cards in the 230,000 outlets belonging to Barclaycard Merchant Services’ customers in the UK. Their PDQ terminal base is over 160,000.

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Reader’s Digest Cards

Bank One is expanding its 1999 co-branding agreement with The Reader’s Digest Association. Under a new licensing program, “Taste of Home,” a cooking magazine, “Birds & Blooms,” a gardening publication, and “The Family Handyman,” a home improvement magazine, will offer their 7.6 million combined subscribers an exclusive “Platinum MasterCard” for the respective magazines. The “Taste of Home” and “Birds & Blooms Platinum MasterCards” will offer free shipping and discounts on selected products; discounts on select items from the company’s popular Country Store mail-order catalog and Web site; special discounted vacation packages, and travel news from the company-owned World Wide Country Tours. The “Family Handyman Platinum MasterCard” offers free balance transfers, cash back rewards, including gift certificates to The Home Depot, handy hints and tips in each statement and free e-newsletters. In September 1999, Bank One’s former First USA division inked a deal to issue a Reader’s Digest credit card to the Association’s customer database of approximately 50 million names. (CF Library 9/22/99)

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WEATHVIEW BANKING 3.6

Vancouver-based Fincentric has released “Wealthview Banking 3.6.” The new version delivers more depth of functionality in the core banking, deposits and lending applications, providing financial institutions seamless integrated information across multiple delivery channels. Rainier Pacific Bank, headquartered in Tacoma Washington, was instrumental in the development of “Wealthview Banking 3.6.” Rainier is currently in the system integration phase of its implementation and is on schedule to go live in the third quarter. Among the new features: “Automatic Event Notice” which automatically delivers event notifications through any channel (email, letter, PDA, cell-phone, personal portal) and “Automatic Benefit Changes” that automatically updates customer and account benefits once a customer reaches the age threshold for a benefit-type set by the financial institution. This ensures appropriate product offerings, pricing programs, service charges, interest rates, and fees are applied to each customer.

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