Bongo International, announces that they are the first in their field to accept decentralized P2P currency, Bitcoin. The move to accept Bitcoin confirms Bongo’s innovative approach to international eCommerce. Bongo International currently supports over 60 payment options including VISA, MasterCard, American Express, V Pay, Union Pay and more in addition to the newly introduced Bitcoin.Details
Near Field Communication (NFC) payments continue to gather steam with Bluetooth low energy (BLE) and Host Card Emulation (HCE) technology. A new white paper examines the opportunities and challenges for BLE mobile technology. Another white paper on HCE will be issued this summer.Details
BitPay named Tim Byun as its Chief Compliance Officer. Formerly the Anti-Money Laundering/Anti-Terrorist Financing Officer of Visa, Tim began his new role for BitPay at the Digital Banking Summit conference June 2 talking about The Digital Future. Byun previously served as Visa’s head of Global Credit Settlement Risk, leading anti-money laundering programs to maintain Visa’s compliance. Before joining Visa, he was an Examining Manager with the Federal Reserve Bank of San Francisco’s Division of Banking Supervision and Regulation for nine years. He earned his MBA from the University of California, Los Angeles and his Bachelor of Science in Finance from the University of Southern California.Details
Spire Payments appointed Kamran Yazdanjoo Head of Global Product Development. Kamran brings to the role over 25 years’ experience and will be responsible for co-ordinating development activities in Spain, England, Scotland, Hong Kong and Russia, and spearheading the delivery of platforms and applications to support the company’s payment solution strategies. Before joining Spire Payments, Kamran served on the Board of Directors of Cubic Transportation Systems Limited as Director of Open Payments. In this role he led new product innovations and the strategy for open payments including mobile and NFC. Prior to this, Kamran was the Vice President of Global R&D at VeriFone Inc., with responsibility for products and services.Details
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.Details
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.
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.Details
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.Details
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.Details
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.Details