Discover Joins Multos Promotional Consortium

The Multos Consortium announced Discover Financial Services, in partnership with Diners Club International, has joined its organization. The MULTOS Consortium is a group of international blue chip organisations responsible for the promotion and development of the MULTOS specifications. With this, Discover will participate in the MULTOS Business and Technical Advisory Groups, allowing them to play a prominent role in the development and growth of MULTOS.

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SAC FCU Implements Fiserv Acumen Platform

Fiserv announced that SAC Federal Credit Union has chosen to implement its “Acumen” account processing solution, along with its “Nautilus” for document imaging, “Prologue” Financial Accounting Services, “AML” Manager for anti-money laundering detection and reporting, “WireXchange” and solutions for ATM processing from Fiserv. SAC FCU is the largest credit union in Nebraska. Over the past several years, the credit union has grown rapidly and is now serving more than 70,000 members through a variety of channels, including 20 locations in eight counties. The credit union selected Acumen to provide the technology foundation for the credit union’s information infrastructure in order to improve efficiency, facilitate the delivery of new services and provide a superior experience to its members. Acumen is the newest choice in account processing for credit unions from Fiserv and features an open architecture, advanced functionality and superior ease of use, plus the ability to cost-effectively scale as credit unions grow.

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Square Deploys New Loyalty Features

Square launched new features today for Square Register and Pay with Square that further deepen the relationship between buyers and sellers. Square allows business owners to create rewards programs that both attract new customers and make existing customers return, again and again. With more than two million individuals and businesses able to accept credit card payments with Square across the United States, Square is focused on providing the tools people need to grow and manage businesses. Square Register users are five times more active on a weekly basis than Square Card Reader users and they process approximately 2x more revenue. Square’s latest offering will allow participating merchants to give regular customers VIP treatment starting with the first visit. Customers will be able to store cards from their favorite Square businesses and keep track of progress towards rewards.

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Citi & Planet Payments Offer Merchants Multi-Currency POS Option

Citibank (Hong Kong) and Planet Payment multi-currency payment processor partnered to offer Planet Payment’s ‘Pay in Your Currency’ service to Citibank’s portfolio of merchants in Hong Kong and Macau. This offers customers the convenience of paying in their home currency at the point-of-sale, for which they are presented with a receipt or a terminal device which displays the transaction amounts in the merchant’s local currency and their home currency, together with the exchange rate and other service details. The customers then make their currency choice on the receipt or device. With Pay in Your Currency, international travelers can enjoy a more comfortable shopping experience by knowing how much the payment is in their home currency at the point of sale.

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Ingenico & TPG Ink Distribution Deal

Ingenico payment devices and services and The Phoenix Group (TPG) POS terminals and solutions forged a multi-year distribution agreement, enabling TPG to market and sell Ingenico’s next generation Telium series POS devices to independent sales organizations (ISOs). Emerging EMV chip-based, contactless, and NFC-based payments means both companies are making a strategic investment to offer the latest Telium POS technology and solutions to ISOs. Now TPG will market and distribute Ingenico’s complete Telium range of products including iPP220 & iPP320 PIN pads, iCT220 & iCT250 countertop terminals, and iWL220 & iWL250BL (bluetooth) wireless devices. In addition, TPG will house a swap pool of the Telium devices in an effort to provide the most comprehensive customer service and a timely response to customer service requests. As part of their repair and services, TPG will perform key injections and downloads.

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Fio Implements First Data Processing

First Data Corporation electronic commerce and payment processing will gradually supply a full portfolio of processing services, including transaction processing and card management services, to Fio banka. First Data will provide Fio banka with a large portfolio of services from card issuing, personalization and card authorization systems, through to transaction processing and fraud monitoring. In addition, First Data will work together with Fio banka to bring a wide range of innovative solutions to the Czech market, such as issuing contactless-enabled payment cards and enabling cardholders to carry out PIN changes using the bank’s internet banking platform.

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Credit Card Chargeoffs See Growth First Time in 9 Months

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After months of cardholder pay-downs, card chargeoffs are on the way up once again. Having not seen an uptick since August 2011, card chargeoffs in April were up 27 basis points from the March figure of 5.17% to 5.44%, although the outlook remains bright for the remainder of this year as…

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ACI Partners Spectrum, Secures SMS Fraud Alerts

ACI Worldwide (ACIW), a leading international provider of payment systems, announced a global partnership with Spectrum Message Services Pty Ltd, to deliver ACI mobile alerting powered by Spectrum’s MoneyGuard product. The combined solution will add a critical layer of protection to financial institutions’ fraud systems by using the flexibility and convenience of interactive SMS messages to identify and stop fraud quickly. Organizations utilizing ACI mobile alerting will be able to identify suspicious transactions in near real- time and send an SMS message to the customer containing details of the transaction such as location and amount. If that transaction is fraudulent the customer can respond with a simple ‘BLOCK’ message and the card can be frozen. This has the potential to stop fraud much sooner than current methods available while improving customer satisfaction by preventing cards from being blocked incorrectly by banks attempting to stop fraud themselves. The interactive nature of the system will help to improve customer service.

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Heartland Adds Three Senior Executive Positions

Heartland Payment Systems announced three new executive positions to further develop its portfolio and services within key industries and extend the company’s strong growth track record. With this, Robert H.B. Baldwin, Jr., previously president of the company, will serve as vice chairman; Michael A. Lawler, previously chief of corporate development, is being promoted to president – strategic markets group; and David Gilbert is joining Heartland as president – hospitality group. Baldwin will continue working closely with Mr. Carr, with responsibilities for key industry relationships, investor relations, information security, and customer service operations. A 12-year veteran of Heartland, Mr. Baldwin will also be an essential collaborator with the business group leaders in the planning and execution of Heartland’s growth strategies.

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