Fico Integrates Fraud Management System in Latest Partnership

Fico partnered with 41st Parameter of Experian to fight fraud on card-not-present (CNP) transactions. FICO is integrating 41st Parameter’s TrustInsight™ with the FICO® Falcon® Platform, which protects 2.5 billion card accounts and is used by more than 9,000 financial institutions worldwide. Authenticating the device being used in a transaction provides yet another layer of detection to the Falcon Platform, which includes proprietary analytics based on more than 30 patents. FICO’s research shows that total card fraud grew 13 percent in the U.S. from January 2012 to September 2013. CNP fraud accounted for nearly half of credit card and debit card fraud during this period. 41st Parameter’s TrustInsight™ solution provides a real-time analysis of a transaction, crowd-sourced from a network of merchants, that produces a TrustScore™ indicating whether the transaction is likely to be genuine and should be approved.

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DataCash Partners Phoenix Managed Networks

DataCash – A MasterCard Company, is teaming up with Phoenix Managed Networks (PMN) IT network provider to further enhance its merchant payment solutions with PMN’s enterprise-strength network security and management service.
The combination of industry-leading Chip&PIN payment processing technology provided by DataCash and PMN’s PhoeniXSentry network security and management service, delivers both an affordable and advanced end-to-end managed security service for maximum protection of in-store IT traffic, for retail environments of any size. The PMN solution will allow DataCash merchants to easily and comprehensively protect their Point of Sale transaction data by separating payment and non-payment related internet traffic, thus ensuring the risk of potential data breach is significantly reduced.

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ACI Worldwide announces Latest mBanking Client

ACI Worldwide electronic payment and banking systems announced Pearl Harbor Federal Credit Union (PHFCU) selected ACI’s integrated online banking platform for credit unions, WebFederal, to power PHFCU Online, its online and mobile banking and bill payment services. PHFCU is one of Hawaii’s leading credit unions, serving thousands of members across the state. As its business has grown and its customers increasingly embrace online and mobile banking, the credit union recognized the need to provide a seamless, multi-channel experience that continued to deliver outstanding service while maximizing efficiencies. PHFCU selected ACI’s WebFederal online banking solution, which provides customers with a universal, real-time, omni-channel experience.

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China Telecom Partners Gemalto for NFC Commercial Launch

Gemalto was selected by China Telecom for its UpTeq Multi-Tenant NFC SIM to support their commercial rollout of mobile contactless services. China Telecom is a leading operator in China with more than 183 million subscribers. Millions of China Telecom subscribers will soon be able to use their mobile phones to pay for everyday services and choose from multiple types of NFC-enabled mobile phones to make payments for transportation, dining, shopping and petrol throughout the country. Airport check-ins, personal authentication services and employee ID services will be introduced in the future. The Gemalto UpTeq Multi-Tenant NFC SIM has been specially developed and customized by Gemalto for China Telecom. Subscribers will enjoy secure and convenient 24/7 access to mobile contactless services.

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Western Union Names Managing Director

Western Union Business Solutions announced the promotion of Christina Hamilton to UK Managing Director after having spent two years as Director of Client Relations for Western Union Business Solutions. Hamilton has more than 15 years’ corporate and commercial experience within the financial services industry heading up both client-facing and operational units. Before joining Western Union Business Solutions in October 2012, Hamilton spent two years as Head of Relationship Management at Capita Asset Services and has also held senior leadership roles at UBS and Citigroup. As UK Managing Director, Hamilton will be responsible for all of Western Union Business Solutions in the UK, whose clients include pension providers, professional financial institutions, law firms and universities. Hamilton’s predecessor, Jonathan Rees, has moved to head up Western Union Business Solutions in North America.

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Clear2Pay builds out payment tech with SIC4 and Target2/Euro1 MX compliance

At the opening of EBADay 2014, Clear2Pay payment solutions announced it has enhanced its solutions portfolio for the Open Payment Framework in accordance with full support for the ISO 20022 standards. Clear2Pay launches a SIC4 solution connecting banks operating in Switzerland to the Swiss RTGS system. At the same time Clear2Pay’s Open Payment Framework enables current and future customers to migrate to modern XML-based payment messaging for EURO1 and TARGET2 within the Eurozone. Designed for banks connecting to the Swiss RTGS system, the SIC enabled Domestic Payments module offers full support for SIC4 electronic transaction processing. Clear2Pay’s OPF SIC solution provides comprehensive cover for all SIC4 requirements in an easily deployed solution, enabling regulatory compliance ahead of target deadline in a cost efficient manner.

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MasterCard and Premier Bank Launch Hajj card

MasterCard launched a Reloadable Hajj Prepaid Card Premier Bank Bangladesh Ltd for pilgrims and Hajj Agencies. Premier Bank Ltd is a top issuer of prepaid cards for Hajj pilgrims & Hajj Agencies in the country. It has branches across the country including all major cities like Dhaka, Chittagong, Cox’s Bazar, Sylhet, Comilla, Rajshahi, Rangpur. MasterCard Reloadable Hajj & Travel Prepaid cardholders will enjoy some exclusive benefits while using the card. Present at the event were honorable Secretory, Ministry of Religious Affairs, Chairman, Parliamentary standing committee for Ministry of Religious Affairs, , President & General Secretary of Hajj Agencies Association of Bangladesh (HAAB), Dr. H.B.M. Iqbal, Chairman, Premier Bank, CEO & Managing Director, Independent Director, Additional Managing Directors & Deputy Managing Director of Premier Bank, Vikas Varma, Area Head, South Asia, MasterCard, Syed Mohammad Kamal, Country Manager, Bangladesh and other senior Officials from MasterCard & Premier Bank.

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Eckoh Patents CallGuard Payments

Eckoh secure payment products and customer service solutions has been granted a patent (No. 2478916) for the transaction security method and system that underpins its CallGuard product.The patent was filed in 2010 by Veritape, a leading secure payment solutions company acquired by Eckoh in June 2013. Both Eckoh and Veritape have specialised in developing card payment solutions to assist companies in making ‘card-not-present’ transactions more secure, particularly those made over the phone through a contact centre. CallGuard, installed on customers’ sites, has proven its success in the market with deployments across the globe. Many companies such as outsourced contact centre providers have adopted the simple plug-and-play solution that prevents sensitive customer cardholder data from reaching call recordings and contact centre agents.

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Unemployment Rate Sits Unchanged M/M at Record Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Payroll employment was up 217,000 in May for an unchanged unemployment rate of 6.3 from the previous month figure. This comes after a 0.4 percentage point drop in April. The number of unemployed persons was unchanged in May at 9.8 million. The unemployment rate and the number of unemployed persons declined…

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American Express Uber

American Express this afternoon announces a new partnership with Uber and a first-of-its-kind technology integration into the Uber iOS app that allows U.S. Card Members enrolled in the Membership Rewards program to choose to earn 2x points or use points for Uber rides. This is the first time that consumers can use loyalty reward points seamlessly in-app and in real time for on-demand transportation in this way.

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