Chase Paymentech Partners NexTech, Streamlines Payment Processing

NexTech Electronic Medical Records (EMR), Practice Management, Billing, and Marketing software, has established a marketing agreement with Chase Paymentech payment processing. Providing NexTech software users a solution that will generate more effective collections of funds for services rendered, the partnership allows clients to check-out patients quickly and conveniently while easily collecting debit and credit card payments directly through the NexTech software. After processing the patient’s payment in the NexTech system, important billing records will automatically update within the NexTech Software, saving physician’s and staff time on administrative tasks.

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AmEx Taps Gaming Market, Acquires Top Player

American Express has acquired Sometrics in-game payments provider and virtual currency platform for $30 million, providing greater access to promote its payment platform to the gaming community. California-based Sometrics enables online game monetization with its virtual currency platform that facilitates in-game payments and purchases of digital goods, according to its website. Sometrics has processed 3.3 trillion units virtual currency since its debut, according to TechCrunch.

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VSoft Data Center Popularity Steadily Growing

VSoft Corporation announced five credit unions selected to transition their current VSoft check processing solutions to its “VServe” global data center. The group of credit unions leveraging VServe include Indiana-based LaPorte Community Federal Credit Union with $30 million in assets; Elgin, Ill.-based Kane County Teachers Credit Union with $170 million in assets; Miami-based University Credit Union with $170 million in assets; Greater New Orleans Credit Union with $107 million in assets and Farmingville, N.Y.-based Teachers Federal Credit Union with more than $4 billion in assets. The “VServe” center offers an outsourcing alternative that delivers VSoft’s full suite of check and core processing software solutions, features high capacity network systems with a dependable infrastructure.

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Liaison Tokenization Service Well Received

Liaison Technologies announced that its “Liaison Protect” Tokenization-as-a-Service (TaaS) solution is garnering high marks from companies that need to comply with the PCI DSS. Liaison marketed its cloud-based managed “Format Preserving Tokenization” service when it announced Liaison Protect TaaS, giving customers a choice on how to tokenize any type of confidential information. Liaison teamed up with Verizon Business to offer tokenization on Verizon’s Computing as a Service (CaaS) platform, the first cloud-based solution to successfully complete the PCI DSS audit for storing, processing and transmitting credit card information.

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FICO Awarded New Patents in Credit Scoring, Fraud Detection and Predictive Analytics

FICO analytics and decision management technology has been awarded eight new patents by the U.S. Patent and Trademark Office for inventions underlying FICO offerings in credit scoring, fraud detection and predictive analytics. They protect the FICO algorithm used to explain the primary factors influencing a credit score based upon a rich data feed and an enhancement to the FICO “Credit Capacity Index” that models the impact of future actions on a consumer’s subsequent credit risk. FICO has been awarded 13 patents since the start of 2011 and holds 112 patents total.

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Merchant Warehouse Announces eCommerce App

Merchant Warehouse secure payment processing and merchant account services introduces its “CB App Express” iPad application. Allowing sales agents to sign new accounts from anywhere, the online application allows users to acquire merchants more efficiently while avoiding the hassle of physical paperwork. The “CB App Express” app speeds the application process and gives agents more ways to control their business and increase productivity.

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Commerce Bank Implements First Data Biz Solution

Commerce Bank, a subsidiary of Commerce Bancshares, will begin offering the First Data “TransArmor” solution to its business customers. The TransArmor solution fundamentally changes the way merchants protect and manage cardholder data, leveraging RSA SafeProxy architecture, the TransArmor service safeguards consumer payment card data from the moment it enters the merchant environment, and replaces card data with a token number that preserves the value of card data for merchant business operations but removes all value for fraudsters.

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InterGlobe Tech first PCI DSS 2.0 Certified

The latest PCI DSS 2.0 standard, based on extensive inputs from the PCI Security Standard Council’s global stakeholders, is designed to provide greater clarity and flexibility to facilitate improved understanding of the requirements and eased implementation for merchants. InterGlobe Technologies (IGT), the leading provider of integrated IT- BPO solutions to the travel and hospitality industry, has announced its successful PCI DSS 2.0 certification as perhaps the first Travel BPO organization by leading PCI DSS QSAC, ControlCase. The company has effectively met the newest version of the Payment Card Industry Data Security Standard (PCI DSS) compliance requirements.

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CashStar to Debut FinTech Innovation

CashStar’s CEO has been selected to speak at FinovateFall 2011, taking place September 20 and 21 in New York City, showcasing the newest financial and banking technology innovations from hot young startups, leading established companies and everyone in between. FinovateFall features a mix of short, fast-paced demos from handpicked companies, as well as intimate networking time with each demoing company’s top executives.

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PaymentOne Implements 7 Day m-Payouts

PaymentOne Corporation (www.paymentone.com) launched its “PayOne FastPay” mobile payments program that guarantees disbursements to merchants in as fast as seven days, dramatically reducing the typical 60-90 day waiting period for payouts required by carriers and other mobile payment vendors. The “PayOne FastPay” program removes the industry standard 60-90 day wait times and guarantee qualified digital merchants their cash settlements in as fast as seven days. In an effort to provide the best financial returns and eliminate risk for its customers, PaymentOne has established the Financial Services Group (FSG) within the company.

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Euronet’s epay Acquires cadooz Rewards & Incentives

Euronet Worldwide electronic payments provider and distributor acquired cadooz Holding incentive company, from Palamon Capital Partners, one of Europe’s leading mid-market private equity firms. The acquisition was completed using cash from existing reserves. cadooz provides vouchers, innovative merchandise and incentive solutions, serving more than 3,000 corporate customers across a range of industries with annual revenues of approximately EUR80 million based on the face value of products sold. Euronet believes that the transaction will allow epay prepaid payment segment to expand sales of existing and future digital content through the 3,000 corporate cadooz customers, expand cadooz’ opportunities in Austria and Poland through Euronet’s retail and bank customers, leverage cadooz’ marketing and promotional capabilities through Euronet’s EFT, epay and Money Transfer segments and deliver significant operational and process synergies.

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