Chase Paymentech Protects Payment Card Data

Chase Paymentech merchant acquirer and payment processor kicked-off its “Safetech Encryption” in Canada to help protect merchants and consumers from payment card fraud and data theft for POS retail customers. The “Safetech Encryption” technology is meant to secure cardholder data for card-present transactions and eliminate the processing, transmission and storage of unprotected payment card account information on retailers’ systems. The encrypted data is then transmitted to Chase Paymentech, where it is decrypted and processed through the payment brand networks.

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Western Union Aids Earthquake Relief Effort

Western Union Company global payment services activated a limited-time “No Transfer Fee” program for money-transfers sent to Turkey Earthquake Zone city of Van from its Agent locations. Additionally, the Western Union Foundation today also donated $50,000 to the Turkish Red Crescent in support of disaster relief efforts. The Western Union Foundation will match registered employee donations to the Foundation designated for the Turkish Red Crescent, on a two-to-one match for U.S. employees and three-to-one match for employees outside the U.S., up to $100,000 per employee.

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Chase COF Consistent – Performance 2% Better Than Industry Averages

After having peaked in the first quarter of 2010, Chase card charge-offs have dropped very consistently ever since. Sitting at only 4.7% of total card accounts, Chase Card performance is above par, with the industry standard averaging about two percentage points greater when it comes to charge-offs. From the 1Q/10 peak, quarter-by-quarter, Chase charge-offs continued…

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Final Distribution Made in Visa/MasterCard Antitrust

Three nonprofit groups will split nearly $1.75 million in the final distribution in the landmark antitrust settlement over Visa and MasterCard-branded signature debit cards. Fifty percent of approximately $1.75 million remaining in the settlement fund will be donated to the American Antitrust Institute (AAI), while the remaining funds will be split evenly between U.S. PIRG Public Interest Research Group and Consumers Union of the United States. The 2003 settlement stopped Visa and MasterCard from forcing merchants to accept Visa and MasterCard-branded signature debit card products as a condition of accepting Visa and MasterCard credit cards.

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AccountNow & MoneyGram Offer Prepaid Remittance

MoneyGram International and AccountNow prepaid card marketer forged partnership agreements, allowing AccountNow as the first U.S.-based prepaid card program to provide MoneyGram’s money transfer products as an online agent beginning November 2011. This lets prepaid cardholders send money in 10 minutes to any MoneyGram location in the world from AccountNow’s web site. AccountNow customers can register online to access MoneyGram’s global money transfer network from the same site used to manage their accounts and send money anywhere.

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BlackBerrys MasterCard PayPass Approved

The BlackBerry Bold 9900 and BlackBerry Curve 9360 smartphones are the first SIM-based NFC smartphones certified by MasterCard Worldwide as PayPass-approved devices.The certification was granted on the basis of the BlackBerry smartphones meeting the functionality, interoperability and security requirements of MasterCard. Now any MasterCard PayPass-issuing bank globally will be able to deploy MasterCard PayPass-enabled accounts to the SIM card of these smartphones. This lets customers use certified BlackBerry smartphones for NFC payments.

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ACI Partners Bridgehampton National Bank

ACI Worldwide payments systems announced Bridgehampton National Bank selected its “Enterprise Banker,” “Mobile Enterprise Banker” and “Proactive Risk Manager” to deliver comprehensive online banking and fraud prevention and detection for all its personal and business customers. This offers the bank a single solution to deliver fully functional online banking services to its consumer and business customers, with availability from mobile devices, and with comprehensive security for all online banking, ACH and wire transactions. Additionally, every ACI solution met the Banks requirements.

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U.S. Bank Partners Garda Cash for RDC

U.S. Bank’s Remote Cash Deposit service is now available to businesses through its new partnership with Garda Cash Logistics, which provides secure cash transportation and cash management solutions for business customers. U.S. Bank implemented the “CashLINK” for its business customers, allowing them to utilize RDC to deposit cash electronically from store locations, consolidate depository accounts with one bank, reduce armored transportation expense and decrease the risks associated with collecting cash.

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eGestalt 2011 Tech Innovator Runner Up

eGestalt Technologies cloud-based, SaaS-delivered, security and information technology governance, risk management and compliance solutions for SMBs to enterprises, announced its “SecureGRC” solution was named a runner-up in the Managed Services category at the 9th annual CRN 2011 Tech Innovator awards ceremony. The “SecureGRC” technology affords MSPs the power to offer their installed base of customers a SaaS-based security and compliance solution at 1/10 the cost, with less overhead than software-only point solutions. The multi-tenant cloud-based SaaS architecture allows completely secure instances to be created on a per partner and end-customer basis leading to a very cost-effective, pay-as-you-go services model for customer.

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U.S. Bank Kills Debit Card Rewards

U.S. Bank is eliminating its “Flex Perks” debit card rewards program effective Nov. 1. Letters were sent to U.S. Bank customers alerting them that their debit cards would no longer be eligible for “gold” or “platinum” bonuses. That means customers won’t receive cash bonuses from debit purchases unless the card is used at a business that agrees to pay a fee. This after debit card program changes at major banks across the Country.

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Zale Deploys NewComLink for Customer Financing

Zale Corporation has implemented the NewComLink retail credit solutions platform as part of its new program to provide alternative financing options to its U.S. customers. Zale announced the new alternative financing program on August 31, 2011, which is currently available in all Zales, Zales Outlet and Gordon’s retail stores. With this development, Zale can connect customers with additional financing options to help complete their jewelry purchases. The NewComLink platform brings new efficiencies to financing and allows retailers to serve additional customers who want to make a purchase, increasing incremental sales, profits and improve customer satisfaction.

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