DNA Opens EMV Toolbox to Providers

The critical mission to develop a common solution for EMV in the U.S. received a significant boost last week as the Debit Network Alliance was founded. In a much-needed move, 10 of the country’s 18 PIN-debit networks came together to provide a structure for the governance, deployment and implementation of the EMV debit standard. This is a first step to the crucial collaboration that can propel EMV forward quickly, efficiently and in a way that protects the interests of all the parties that keep our complex payments system humming. To truly realize the value EMV can bring the U.S. payments system, all networks must participate in the development of a communal ” and compliant ” standard. Without it, three “must-haves” ” merchant routing choice, issuer portability and healthy industry competition ” are at risk. DNA aims to make each of the EMV tools in the payments toolbox accessible to everyone.

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RateSupermarket.ca Offers Insight on how Consumers Can Avoid Holiday Debt

Holiday gift lists are often behind overspending – but a RateSupermarket.ca poll finds food and travel expenses account for between $500 – $1,000 in additional costs for a quarter of Canadians. The personal finance comparison site introduces the Holiday Rewards Challenge, an interactive tool to help consumers identify their top holiday spending stresses – and whether their credit card is best suited to their shopping habits. For less debt burden in 2014, cash in rewards where it counts, seek credit cards that offer low balance transfer options provide interest breaks for a limited time and buy gifts with cash.

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Non Cash Payment Up 5% Since 2009

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Card payments now account nearly 70% of all noncash payments, while the number of checks paid continued to decline. A 2013 Study by the Federal Reserve now shows the total number of noncash payments, excluding wire transfers, was 122.8 billion, a growth rate of 4.4% annually from 2009 to 2012. The…

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FIS Mobile Earns Best-in-class Awards

FIS earned best-in-class mobile awards from two leading analyst group, named 2013 Best in Class Mobile Banking Vendor Overall by Javelin Strategy & Research and Best in Class ranks from CEB TowerGroup in the areas of Customer Experience, Interface Development and Integration & Management in its Mobile Banking Solutions Technology Analysis report. FIS Mobile received Javelin’s highest honor, winning Best in Class overall from its 2013 survey and was voted No. 1 in Top 3 Mobile Banking Vendor Standards and Customized Solutions and No. 1 in Top 3 Mobile Banking Standard Solution. It was ranked based on best in class in customer experience, interface development and integration management.

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Paymetric Announces New Chief Financial Officer

Paymetric announced that Gil Friedman as its new CFO, bringing to the role more than 17 years of senior financial experience. He spent five years with NexTraq, a Francisco Partners company, where he was Executive Vice President and CFO and led the sale of the company to Fleetcor Technologies in late 2013. His background also includes senior level roles with Amdocs and Polycom. Additionally, Friedman’s career experience includes a $55M IPO and eight M&A transactions ranging from $8M to $350M. Paymetric’s end-to-end offering combines proven expertise in payment processes with best-in-class ERP integration solutions to improve return on ePayment card acceptance, reduce barriers and scope of PCI compliance, and lower the total cost of ownership for payment processing.

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Allied Payment Network Partners ACI Worldwide

Allied Payment Network online and mobile bill payment services partnered ACI Worldwide to offer same-day bill payment capabilities through Allied’s mobile photo bill pay solution, Picture Pay. Picture Pay will integrate with the ACI Bill Payment Engine and proprietary Biller Endpoint Network (BEN), an electronic biller network that delivers millions of payments to more than 9,000 electronic biller endpoints each month. By seamlessly integrating with the ACI Bill Payment Engine, Picture Pay’s end users now have the added convenience of a same-day payment option to immediately process a bill payment.

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USA Technologies Awarded 87th Patent

USA Technologies announced that the U.S. Patent Office has granted its 87th patent. U.S. Patent 8,596,529, titled Interactive Interface Effectuated Vending, adds to the collection of intellectual property USAT has accumulated over a number of years as self-serve retail markets, such as vending, transition from cash-only to cashless and other value-added offerings enabled by a connected technology platform.

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eBay Completes Acquisition of Braintree

eBay completed its acquisition of Braintree payment platform of approximately $800 million in cash. Braintree will now operate as a separate service within PayPal under the leadership of Braintree CEO Bill Ready, who will report to PayPal President David Marcus and has joined PayPal’s executive staff. eBay anticipates the acquisition will have an immaterial impact to PayPal’s 2013 net total payment volume. eBay expects that definitional differences between PayPal’s net total payment volume and Braintree’s projected $12 billion payment volume for 2013, approximately one-third of which is expected to be driven by mobile payments, will lead to a significant portion of Braintree’s payment volume not being additive to PayPal’s net total payment volume and treated instead like PayPal’s payment gateway business, with only the revenue being recorded.

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Visa digital wallet Embarks on New Market

V.me ewallet by Visa is being offered as a secure payment option across major eCommerce retailers in Australia. V.me offers a simple and secure way to pay online by entering a single username and password – whether shopping from a PC, laptop or mobile device – eliminating the hassle of entering shipping, billing and account information, across multiple merchant websites. The Visa Online Shopping Study*, a survey of 1,000 Australian consumers conducted for the first time in 2013, also shows men generally prefer shopping online (35%) than women (28%) and many expect to do more online shopping in the future than they currently do. V.me stores personal account information behind layers of security within Visa’s industry-leading network.

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