IMAGO Circumvents mPayment Implementation Obstacles

QSecure announced IMAGO powered payment card and mobile app for iPhone, Android, and Windows phones, allowing users to program their IMAGO card with their smartphone screen and can use IMAGO at existing credit card terminals. IMAGO accepts all major credit cards, gift cards, and loyalty cards and helps users maximize gift card redemption while radically slimming down their wallet or pocketbook. IMAGO addresses NFC implementation, as it can communicate directly with regular credit card terminals and with smart phones, forming a bridge between the two.

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Retail Decisions Expands Fraud Protection Folio

ReD fraud prevention services announced it is teaming PAY.ON AG payments processor platform to offer card-not-present payment fraud prevention services to PAY.ON’s global network of payment service providers (PSPs). PAY.ON’s customer base can now benefit from the integration of ReD Shield®, ReD’s real-time fraud prevention service, into PAY.ON´s white label Platform-as-a-Service, PaySourcing, and PayPipe, the independent payment routing gateway. This will enable payment providers as ISOs, or other service providers, acquirers and financial institutions to become fully equipped PSPs in 48 hours or to outsource their entire PSP business into the cloud. The ReD Shield provides merchants and PSPs access to fraud prevention tools and techniques without the need for in-house investment.

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Wells Fargo Ranks #1 Consumer Remittance Services Provider

The Inter-American Dialogue released a study today naming Wells Fargo & Company a top ranking consumer remittance services provider. Wells Fargo tied for first place with two other companies, out of a field of 37. The Inter-American Dialogue is the leading U.S. center for policy analysis, communication and exchange on Western Hemisphere affairs. This after Wells Fargo announced record growth for its Global Remittance Services and reported total consumer remittance value remitted in 2011 at $1.8 billion. Wells Fargo ExpressSend customers can send funds to their beneficiaries in most countries through their choice of four remittance alternatives- account to account, account to cash, cash to cash, or cash to account.

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Fiserv Upgrades UChoose Rewards Solution

Fiserv upgraded the UChoose Rewards mobile application on rewards and loyalty which provides merchant-funded and issuer-funded rewards capabilities for financial institution clients. This provides UChoose Rewards participants an expanded mobile search and online point redemption capabilities that allow them to identify opportunities to earn points through the mobile platform. The application provides a customized map to the locations of participating merchants, enabling UChoose Rewards participants to see available offers from merchants that will earn them bonus points. Participants shopping in stores can scan UPC codes on merchandise to determine if the item is available through their rewards program and how many points are required to purchase it, continuing the program’s award-winning service and innovative solutions.

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AJB Simplifies PCI Security Compliance

AJB Software Design integrated payment solutions announced that its FIPay payment products achieved PCI’s PA-DSS 2.0 validation, and its RTS products are projected to be PA-DSS 2.0 in advance of the October 28th, 2013 deadline. The deadline requires merchants to upgrade from the existing PA-DSS version 1.2.1. AJB provides merchants with an easy way to pre-validate their payment applications. Existing AJB customers using PA-DSS 1.2.1 validated products are eligible to receive PA-DSS 2.0 security patches.

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PayPal Grows Online Merchant Payment Footprint

Office Depot office supplies has now added PayPal to its selection of online payment options for a secure way to pay for purchases on www.officedepot.com. Using PayPal on www.officedepot.com simplifies the online checkout process by providing shoppers with a quick, and secure option to pay for purchases without sharing financial information. PayPal can also help shorten the time needed to checkout as customers do not need to type the billing and shipping addresses or financial information that it is already stored securely in their PayPal account. Users also can securely link their bank account, debit or credit cards to their PayPal account.

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Gemalto Partners Svyaznoy Bank on Prepaid Card Services

Gemalto digital security partnered Svyaznoy Bank to deploy a large scale prepaid card offer for its customers. Certified by MasterCard and Visa, the program combines rigorous security with consumer appeal and can be processed at any location that accepts these payment applications. The prepaid card will be distributed via both networks, alongside a number of other sales channels. As a result, it will deliver significant commercial benefits, including attracting new customers, raising the bank’s profile, and creating an additional revenue stream. Gemalto’s prepaid card service can encompass every stage of the process, from design and production of the card and its packaging, right through to point-of-sale fulfillment.

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Bank Selects Fiserv Currency Supply Chain Management

Fiserv announced First Ukrainian International Bank (FUIB) implemented its “Integrated Currency Manager” to help address and manage cash reserve requirements across its network. Fiserv, along with its local implementation partner, Mellon Ukraine, has completed the initial phase of the roll-out – reducing the operational cash reserves for FUIB’s branch and ATM network — and the bank is already seeing some remarkable results. FUIB chose the Fiserv solution because it was looking to stabilize cash reserve levels throughout its network of branches and ATMs, using a technology solution to help optimize cash management while minimizing operational expenses.

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VeriFone NFC Services Make Eastward Expansion

VeriFone Systems partnered China Mobile and Bank of China to deploy managed services solutions for NFC payment and mobile marketing. Meanwhile, Shen Yang Badatong E-Commerce is equipping thousands of merchant locations with VeriFone NFC acceptance systems. This is the first implementation of VeriFone’s PAYMEDIA Mobile Marketing Platform (MMP) end-to-end solution that enables merchants, brands and third parties to launch highly targeted campaigns to mobile wallet subscribers. PAYMEDIA UAP enables Mobile Network Operators (MNOs) and wallet providers to easily download wallet acceptance applications directly to merchants’ point of sale systems and allows merchants to connect these apps to providers via VeriFone’s cloud-based gateway.

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VeriFone Acquires Two Payments Industry Distributors

VeriFone Systems announced an agreement with ANZ Bank New Zealand Limited to acquire EFTPOS New Zealand Limited (ENZ) along with an agreement with the Sektor Group of New Zealand to acquire its Sektor Payments operation. The acquisitions provide VeriFone comprehensive software, services and distribution resources to serve New Zealand with payment solutions and managed services, leveraging its Point payments-as-a-service platform. ENZ will continue to operate under its current branding, EFTPOS New Zealand, as a VeriFone company. Sektor Payments, which will operate as VeriFone New Zealand, boasts the largest reseller network that provides VeriFone payment solutions to merchants.

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MasterCard to Launch Refined Consumer App

MasterCard Worldwide partnered Far Eastern International Bank (FEIB) and National Credit Card Center (NCCC) to launch MasterCard inControl consumer app, letting users control how, when and where a MasterCard account may be used when shopping online. The MasterCard inControl service platform employs cardholder-controlled functions, including Authorization Control, Dynamic Virtual Card Number, and Alert & Notification. The platform will give cardholders the ability to generate a series of virtual card numbers with their preferred purchasing amount limits, based on their various shopping requirements, without worrying about exposing their real card numbers on the internet. It offers Authorization Control; Dynamic Virtual Card Number-a 16-digit virtual credit card number generated by MasterCard inControl system; and Alert/Notification to automatically alert cardholders when the consumption exceeds the amount limit.

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November Delinquency Rate Regains Lost Ground From October

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After 12-months of straight improvement having snapped in October, Fitch’s 60+ Day Delinquency Index made up ground and improved one basis point (bp) to 1.70% in November. With this, late payments are down more than 26% year-over-year- the second lowest rate in any given month since the inception of Fitch’s index…

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