mPayment Patent Expands PayOne Portfolio

PayOne mobile payments and carrier billing has been awarded another patent by the US Patent Office on its “PayConnect” technology platform, “instant wallet” capability, and intellectual property serving the mobile commerce and digital payments market. The newly awarded patent, which was filed in November 2010 for invention number 8,379,815, covers mobile payments, fraud control and identity verification for online and in-store transactions. This new patent adds to an already robust portfolio of eight patents awarded to PayOne related to mobile wallet, payments and carrier billing. PayOne’s complete patent portfolio can be found at http://www.payone.com/Patents. PayOne and the PayOne Global Carrier Network PGCN currently provides the ability for over 4 billion consumers in over 80 countries to utilize their mobile phones for secure digital mobile payments, typically with just 1-2 steps.

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Vantiv PROCESSING All Ready for MasterCard EMV

Vantiv payment processing for merchants and financial institutions of all sizes, announced that it was the first U.S. acquirer to complete MasterCard’s testing requirements to process EMV transactions for MasterCard, Maestro and Cirrus brands at both ATM and at the point-of-sale locations. Vantiv’s integrated processing platform continues to enable the Company to quickly integrate new technologies such as EMV. This, combined with Vantiv’s comprehensive suite of payment solutions, represents the Company’s continued investments in its core processing platform, emerging technologies and strong execution capabilities. Vantiv’s network drives nearly 13,000 ATMs and has been certified to process EMV transactions on the NCR APTRA(TM) Edge ATM software platform. Its EMV processing will allows cardholders to conduct EMV transactions at selected ATMs.

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Bluefin Payment Systems Announces New Partnership

Bluefin Payment Systems and fundraise.com social fundraising platform inked their partnership, whereby Bluefin’s payment gateway, PayConex, is available to fundraise.com’s customer base. Bluefin’s payment gateway features debit/credit/ACH acceptance, plus recurring billing, a virtual terminal and a hosted payment page – all backed by security features such as tokenization and point-to-point encryption (P2PE). A ll of fundraise.com clients will have access to Bluefin’s secure payment gateway by simply applying online for a merchant account, which will offer fundraise.com’s services to their base of merchants and more than 300 partners. Bluefin is partnered with over 100 software providers and serves 15,000 U.S. and Canadian merchants, including 1,200 Non-profits.

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Accourt Appoints Seasoned Card Partner

Accourt Limited consultancy services announced that Peter Trembling as a Partner, bringing with him over 20 years’ experience in International Cards and Payments. He served in roles with American Express, five years at MBNA International and was the founder of two specialist card consultancy practices. He has advised banks and card issuers in every continent around the world covering over 30 countries, as well as brokering co-brand card partnerships for over 50 rights-holders in airline, retail, travel, and sport. Peter has operated as a consultant to MasterCard, Visa and American Express and was the Chairman of the inaugural MasterCard Annual European Card Programme of the Year Awards. His speciality is in working with rights holders and assisting them in optimising the value of their card and payment opportunities, whether that be through a traditional co-branded or affinity relationship or from the advent of new technology such as mobile payments, cashless stadia and arenas, virtual cards etc.

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Discover Launches Cardmember 5% Cashback Bonus Promo

Discover is now offering cardmembers the opportunity to earn 5% Cashback Bonus on up to $1,500 in purchases at home improvement stores. Cardmembers can start earning 5% Cashback Bonus at home improvement stores now through June 30 by signing up for 5% online at discover.com, or by calling 1-800-DISCOVER (347-2683). After making $1,500 in home improvement purchases, Discover cardmembers still automatically receive their standard cash back on all other purchases. Discover is also offering its cardmembers exclusive ways to earn between 5%-20% on purchases made through ShopDiscover, the online shopping portal featuring more than 200 top online retailers. Starting April 11 through May 12, cardmembers can take advantage of over 20 merchant partners that will increase Cashback Bonus amounts.

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Common Origination Platform and Fiserv Integrate Data-Sharing

Fiserv financial services technology announced its Common Origination Platform and LoanServ solutions have been integrated to provide real-time, full-circle loan boarding processes for all mortgage, lines of credit and installment loans. The integration improves efficiency for all users by sharing data points and eliminating potential errors caused by manual data entry. With an increasing number of financial institutions supporting both production and servicing operations, the integration of the Fiserv solutions provides a consolidated view of each customer as well as a single view of risk for their loan portfolios. The integration eliminates duplication within processes and the business management of the systems. With the LoanServ solution, data transactions are available online, in real-time so lenders don’t have to contend with the limitations associated with an end-of-day batch processing cycle.

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HP Cards and Payments Deploys Tango Processing

Lusis Payments and HP partner on payments switching. TANGO brings payments systems into line with the broader IT developments and provides a clear edge over systems that were relevant and capable once. The TANGO solution will be deployed across three central hubs with the first instance already installed in HP’s Regional Cards and Payments Utility in Sydney, Australia. It will run on HP NonStop, the platform of choice for critical on-line transaction processing globally. TANGO’s resilient system software coupled with the well-known capabilities of the HP NonStop platform provides a fully fault tolerant system.

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MoneyGram and First National Bank Launch mMoney Transfer

MoneyGram money transfer and First National Bank (FNB) launched their first mobile money transfer service, giving FNB account holders a convenient option for sending and receiving international money transfers using their mobile devices. The service features an advanced data encryption system that protects account holder information. Transactions sent from a mobile device are available for collection within 10 minutes, subject to an agent’s hours of operation and local laws and regulations. MoneyGram announced an agreement with First National Bank to solidify MoneyGram’s growing position in South Africa and makes it one of the largest money transfer companies in the region. Adding FNB to its agent network means customers have an additional nearly 1,000 MoneyGram money transfer locations across South Africa from which to send and receive money.

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CyberSource Expands Global Presence

CyberSource eCommerce payment management services opened its French subsidiary in Paris to bring its fraud management solutions to French online retailers. This will be CyberSource’s second expansion into Europe following the opening of its EMEA headquarters in Reading, UK, in 1997. CyberSource is an eCommerce payment and risk management pioneer helping businesses reduce fraud. CyberSource’s ‘Decision Manager’ is an extremely sophisticated fraud management system that provides online retailers with the ability to systematically detect and eliminate fraudulent behaviour sooner, enabling them to optimise the performance of their internal review teams. Vitally, the system can not only help to reduce fraud; it does so while preserving the customer experience by minimising the rejection of valid orders and speeding genuine transactions through. Faced with the growth of online fraud, merchants should take a proactive approach and implement tailor-made solutions to help prevent fraud and and reduce false positives.

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Consumers Rack Up Card Debt 7.75% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up .1% in January to an adjusted $847.5B, it continued growth in February to $848B. Although rather stagnant against recent months, February credit outstanding is way up by and was up 7.75% from on the year ago figure of $798.6B, a super low…

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Aconite Announces mEMV Scripting

Aconite chip and mobile software first commercial deployment of our mobile EMV scripting solution. Maintaining and updating the settings in mobile applications after being provisioned to handsets is a critical part of the end-to-end management of a mobile payment program, and is not something that is typically provided by an application provisioning system or Trusted Service Manager (TSM). Now a major European processor has selected Aconite’s Mobile Application Manager (MoAM) to support their mobile scripting needs, providing a low-cost, fast-track enhancement of their existing authorization systems to support the broad range of EMV scripts needed to manage EMV applications on a mobile NFC handset. Aconite’s Mobile Application Manager will support counter-resets, passcode changes and other scripts required to fully implement EMV in a mobile environment. The EMV Scripting features delivered by Aconite’s Mobile Application Manager are based on Aconite’s award winning Smart EMV Manager product which provides a wide range of capabilities out-of-the-box, and can be rapidly configured to support new functions, applications and script types without requiring complex integration or expensive customization.

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E-commerce site Deploys MasterCard MasterPass

Rakuten.com Shopping recently implemented MasterPass digital wallet service. Allowing users to use any payment card or enabled device to discover enhanced shopping experiences, the new service provides Rakuten.com shoppers a convenient and flexible way to pay via the website or on a mobile device. Shoppers can begin to use MasterPass immediately and will see further promotions on the service throughout the year as MasterPass will be increasingly marketed as an alternative and easy-to-use payment solution.

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