MasterCard Acquires ElectraCard Services

MasterCard has entered into an agreement with Opus Software Solutions Pvt Ltd to acquire its subsidiary, ElectraCard Services Pvt Ltd (ECS), a provider of software solutions and processing services for electronic payment and card systems. This transaction is anticipated to close in the second quarter of 2014. MasterCard previously had a minority investment in ECS. ECS is a leading provider of software products and processing services for electronic payments. Its customer base includes financial institutions, retailers and telecom companies in over 25 countries globally. Its products enable customers to issue and manage all types of payment cards and electronically process card transactions across multiple channels such as ATM, POS, Internet and mobile.

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Heartland Secure Guarantees Ultimate Credit/Debit Card Data Security

Heartland Payment Systems is introducing Heartland Secure comprehensive credit/debit card data security solution. Featuring a breach warranty, this innovative solution is designed to provide merchants with protection against POS intrusions, crimeware, miscellaneous errors, insider misuse and other common sources of card-present data fraud by eliminating the opportunity for criminals to monetize card data. Heartland Secure combines EMV electronic chip card technology, its E3 end-to-end encryption technology, and Tokenization technology. Based on data provided by the Open Security Foundation and RiskBased Security, the Online Trust Alliance’s (OTA) 2014 Data Protection and Breach Readiness Guide2 states that more than 823 million records were exposed in 2013, including credit card numbers, email addresses, log in credentials, social security numbers and other related personal information. OTA estimates that 37 percent of these breaches were the result of actual hacks, and another 31 percent were due to lack of internal controls, which enabled accidental or malicious events.

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Allied Wallet Recognized by Fortune and CNN

Allied Wallet online credit card processing was awarded a top 10 position on Fortune.com and Money.CNN.com as one of the Best Workplaces for Millennials in the world. Allied Wallet was reviewed and surveyed by Great Place to Work, the global authority on high-performance workplace cultures, and awarded the #3 spot on the Best Workplaces for Millennials list for their ability to promote a productive and rewarding work environment. The companies on the Best Workplaces List were notable for their practices that make young employees feel comfortable and excited about work through meaningful and ethical business practices and generous compensation and benefits. Allied Wallet provides this type of high-trust, positive environment for their team, rewarding employees with vacations, new cars, special events, catered lunches, and amazing benefits and packages that promote their well-being as well as growth in their trade or skill-set.

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ChannelAdvisor CEO to Present at IRCE Focus

ChannelAdvisor cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, today announced that CEO Scot Wingo will present at the upcoming IRCE Focus: Brands & B2B conference taking place May 18-20, 2014, at the Jacob K. Javits Center in New York. Wingo will co-present a session titled “Amazon: Friend or Foe?” on Tuesday, May 20, at 12:45 p.m. EDT. The session will focus on the numerous opportunities for brands to successfully sell through Amazon. IRCE Focus: Brands & B2B will offer successful strategies for B2C, B2B and everything in between. Noteworthy speakers will come together to share their expertise and insights into what’s happening in the world of B2B and B2C e-commerce. This knowledgeable group will discuss strategies for brands, manufacturers, wholesalers and more to effectively manage direct-to-consumer relationships, channel complexity and digital marketing for brands.

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TrustCommerce Among First Validated as PCI DSS 3.0 Compliant

TrustCommerce Point-to-Point Encryption (P2PE) payment solutions announced it is one of the first to achieve PCI DSS 3.0 validation. A Level 1 Service Provider, TrustCommerce deployed PCI DSS version 3.0 as the third major update to the PCI DSS. Reporting guidelines were made available in February 2014; however, existing PCI DSS 2.0 compliant vendors have until January 1, 2015 to move to the new standard. The changes continue to raise the level of best practices that govern the industry. The PCI DSS provides technical and operational requirements, standards, and guidelines for all entities that process, store, or transmit cardholder data, including issuers, providers, acquirers, merchants, and service providers. PCI DSS version 3.0 is intended to place even more emphasis on payment data security.

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Epson Announces Latest POS Solutions Client

At the National Restaurant Association Show (NRA) , Epson America POS solutions and Lavu iPad POS for restaurants announced their partnership for more flexible iPad POS solutions to restaurant operators of all sizes. Lavu is the first Epson partner to adopt the Epson OmniLink™ i-Series all-in-one smart solution for receipt printing and peripheral device management for its iPad POS. Lavu will also leverage Epson’s market-leading TM-T88V and TM-U220B printers for receipt and kitchen printing. The two global market leaders are working together to deliver a cutting-edge solution that offers restaurant operators a trusted and innovative migration path to tablet POS. Epson’s OmniLink will serve as the peripheral device hub for the Lavu iPad POS platform enabling seamless and reliable connection and management of required POS peripherals, including credit card readers, barcode scanners, scales, and customer displays.

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MoneyGram Expands Money Transfer to Mexico

MoneyGram announces a new channel to transfer money to Mexico at an unparalleled speed – in just 30 minutes. The launch of this near real-time service provides customers with a fast and secure option to send funds through the trusted MoneyGram network. This new offering complements MoneyGram’s strong bank account deposit network in Honduras, El Salvador and Guatemala.

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RBS beefs up global transaction services team

The Royal Bank of Scotland plc (RBS) announced the appointment of five new senior hires to its Global Transaction Services team, further strengthening its capabilities and enhancing the service it provides to clients. Helen Mason joins as Head of Bank Partnerships, consolidating the Bank’s approach to and management of partner banking arrangements across Global Transaction Services. Mason has over 20 years experience within global transaction banking organisations and joins from Bank of America Merrill Lynch (BAML), where she has been leading the commercial cards business within GTS EMEA. Mason reports to Berndt. Waud also joins from JP Morgan. He was at the bank for over 12 years, most recently as executive director and team leader for Northern Europe. Waud reports to Blake. Stuart Lawson and Maha el Dimachki both join the GTS Cash Product team as Managing Directors.

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Interac Announces Latest Flash Contcatless Payment Client

First West Credit Union signed Interac Flash to contactless, tap-and-go technology feature on its debit cards.Interac Flash is a new contactless enhancement of Interac Chip debit cards that enables cardholders to make everyday small value purchases faster by simply holding their card up to a supporting reader. First West will be rolling out Interac Flash and Instant Card Issuance, the ability to create personalized cards in branch for members, in a phased approach at two of its Envision Financial branches. Beginning in mid-June, a limited number of these cards will be available at the Willoughby branch in Langley and High Street branch in West Abbotsford. A greater roll-out is planned for Envision Financial members this fall and to Valley First and Enderby & District Financial members in 2015.

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JetPay Posts 1Q/14 Revenue Up 6%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] JetPay generated positive EBITDA from operations of $706,000 in the three months ended March 31, 2014 on reported revenues of $8.2 million. EBITDA for the three months ended March 31, 2014 was 8.6% of revenues as compared to EBITDA for the three months ended March 31, 2013 of $1.05 million or…

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Kohl’s and Capital One Announce Extended Contract for Private Label Credit Card

Kohl’s Department Stores and Capital One announced a multi-year extension of their private label credit card program agreement. The contract extension with Kohl’s enables consumers to have expanded buying power and solidifies an already strong partnership. Kohl’s high product standards and the company’s focus on customer service extends through its private label credit card program which offers cardholders access to exclusive offers, guaranteed savings and online payment services. Capital One’s long-term partnership with Kohl’s reinforces the company’s commitment to grow its Credit Card Partnership business.

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CNET Founder Launches Bitcoin Platform

Internet and tech entrepreneur Halsey Minor announced the launch of Bitreserve, a bitcoin platform that addresses bitcoin volatility and provides real-time transparency, transaction traceability, and proof of solvency. Bitreserve Members can hold bitcoin denominated in dollars, euros, yuan, yen, and pounds. These “bitcurrencies” are backed by a full reserve of real-world currencies.

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