MasterCard Introduces Payroll Card Standards

MasterCard released new standards designed to help employees take full advantage of the benefits of having their paycheck electronically deposited onto payroll cards. The payroll card standards require employers and payroll card providers to offer cardholders greater insight on how to access their pay through educational resources and increased transparency of any fees. Additionally, the standards ensure the employee has a fee-free way to access their pay and check available balances.

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Fiserv Survey Shows mPayment Use Doubled from 2012 to 2013

The latest Fiserv Billing Household Survey shows consumers are paying their bills in more ways than ever before, with the number of consumers paying bills from smartphones and tablets growing significantly. Gen Y in particular prefers a variety of channels and immediate payment options, and uses the mobile channel to manage billing and payment more…

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Fundtech taps Federal Reserve Bank on ACH Compliance

Fundtech global transaction banking solutions deployed Federal Reserve’s FedGlobal(R)ACH Payments as a part of Fundtech’s ACH solutions. Fundtech provides customers with access to the Federal Reserve Bank’s disclosure capabilities for International ACH Transactions (IAT). Financial institutions face challenges in complying with Regulation E of Section 1073 of the Dodd-Frank Wall Street Reform and Protection Act. The FedGlobal ACH Payments service facilitates disclosure requirements and error resolution for financial institutions involved in the outbound, cross-border transfer of funds. This service complements Fundtech’s ACH solutions which automate ACH processes and provide ACH processor connectivity.

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Central Payment/SpotOn to Sponsor Holiday Program

Central Payment and SpotOn have contributed $60,000 to sponsor GLIDE’S annual holiday Grocery Bag Giveaway (December 18), Zach and Matt Hyman, co-founders and co-managing directors announced. In the three years that the companies have participated in the annual event, they have provided more than $140,000 in donations. Employees from both companies also works on a regular basis in the San Francisco-based organization’s kitchen, which annually serves more than 2500 meals per day to the city’s poor, homeless and hungry. During the year, the companies also established a matching contribution program which allows them to increase the support for nonprofit organizations by making commensurate donations to match those made by employees or sales representatives to a nonprofit.

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TSYS Releases Importance of 3D Secure with EMV

TSYS released its white paper titled “EMV is Not Enough: Considerations for Implementing 3D Secure.” The paper considers the impending U.S. migration to Europay, MasterCard, and Visa (EMV) chip to combat fraud, but concludes that there are additional steps issuers must consider to mitigate fraud risk. This report concludes that there are clear lessons to be learned in the U.S. from the UK’s introduction of EMV ” and the resulting rise in card-not-present fraud. The paper discusses how the increase in card-not-present fraud coupled with the growth of e-commerce should lead issuers to consider deploying a risk-based authentication on the 3D Secure protocol. 3D Secure, the paper indicates, is a robust and effective method for providing information to issuers and online merchants to combat fraud while simultaneously providing a smooth and interruption-free shopping experience to cardholders.

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LogRhythm Announces Latest PCI Compliance Client

LogRhythm announced Noodles & Company deployed its Security Intelligence Platform to meet PCI-DSS compliance requirements, which require very close monitoring and control over credit card information and auditing to prove that such data is protected. LogRhythm’s Security Intelligence Platform stands apart from first-generation log management and SIEM solutions by fully integrating log management, SIEM, file integrity monitoring, host forensics and network forensics with advanced analytics. The solution enables organizations to harness the wealth of security-related information embedded within everyday systems, applications and network log data.

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SPOTPAY FEATURED IN NYC STORE

This holiday season, WIRED, a Condé Nast brand, is bringing a unique retail experience to New York City. The annual WIRED Store features SpotPay(TM) in addition to the hottest electronics, rare objects d’ art, apparel and accessories, musical instruments, kitchen gadgets, adventure gear, and much more. Located in the heart of the Meatpacking District, at 353 West 14th Street, the Store will run from December 4th through December 22nd, on Tuesday-Sunday from 12 p.m. to 8 p.m.

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Global Payout and CCS Prepay Partner on Prepaid Debit

Global Payout and CCS Prepay UK announce a joint venture agreement to pool their U.S. and International Prepaid Debit card products and resources together to broaden each company’s ability to meet client groups’ card production needs as well as enhance customer services. In mid-November 2013, the parties had signed a product sharing agreement on an EMV Visa International Prepaid Debit Card developed with a partner bank in Europe. By the end of this month, the companies expect to complete joint venture agreements on three more EMV Visa and MasterCard cards, including a globally deployable GPR (General Purpose Reloadable) Card for the retail scene.

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Swish mPOS Granted Institution License

Swish Payments mPOS provider was granted a Financial Institution license by the Malta Financial Services Authority (MFSA). This allows Swish to operate as a licensed financial institution under the European Commission Payment Services Directive. This marks a major milestone towards Swish’s global expansion by enabling delivery of services within the European market. Swish brought the first low-cost EMV chip-and-signature solutions for mobile payment card acceptance to the Asia Pacific region. Now the company is poised to introduce compelling EMV chip-and-PIN solutions for mobile payment card acceptance in the United Kingdom and Canada in the coming months.

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M-hance Announces Latest Reconciliation Client

Vale Europe reduced the time and cost involved in the completion of its bank reconciliation by implementing an integrated financial management solution from m-hance. This system, m-hance Bank Management, has enabled Vale Europe Ltd to achieve greater compliance and has halved the time it takes to complete its bank reconciliation process through automating a range of manual-based procedures. After reviewing the market, Vale selected m-hance’s integrated Bank Management solution to gain a faster, more accurate and efficient means of reconciling transactions by automating manual administrative processes. The solution’s rule-based matching functionality automatically reconciles transactions within Vale’s m-hance finance system to an imported bank statement to eliminate duplication of effort and reduce errors.

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MasterCard and Commonwealth Accelerate mPayments Adoption

MasterCard will enable Commonwealth Bank of Australia MasterCard cardholders to securely load and store payment account credentials on select flagship NFC-enabled Samsung devices, enabling fast and secure contactless payments. Commonwealth Bank of Australia is the first bank globally to collaborate with MasterCard and Samsung to offer this service to its customers, using Mobile MasterCard® PayPass™ within its CommBank app on the embedded secure element of the Samsung Galaxy S4. Commonwealth Bank customers can now easily add contactless payment functionality to their Samsung Galaxy S4, allowing for contactless payments at the more than 1.6 million MasterCard PayPass contactless merchant locations around the globe. This includes major retailers, convenience stores, grocery stores, pharmacies and taxis – quick payment environments where speed and convenience matter most.

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