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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Banco Popular de Puerto Rico Deploys Logica Payment

Banco Popular de Puerto Rico (BPPR) will be implementing the Logica “All Payment Solution” (LAPS) to deliver central payments processing for its US Federal Reserve and SWIFT-based payments, anti-money laundering detection and financial messaging. The “LAPS'” scalability enables compliance with new regulations and addresses the changing needs of customers. The payment services hub increases automation levels, enabling real-time and more streamlined payments processing to improve customer service level and drive down operational costs. Logica will work with Banco Popular’s local IT implementation partner, EVERTEC to provide solution deployment support.

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GlobalPlatform Implements Compliance Program Trademark

GlobalPlatform has officially launched its compliance program trademark. With the appointment of a dedicated program secretariat, established testing infrastructure and qualified test tool providers and laboratories, the program is set to ensure the creation and maintenance of an interoperable, sustainable and trusted end-to-end environment for managing applications on secure chip technology. This will manage all qualification processes for products, test tools and laboratories and issue the GlobalPlatform qualified trademark to vendors.

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FleetCor Acquires Fuel Card Company

FleetCor Technologies specialized payment products and services to businesses acquired a prepaid fuel card company in Mexico for undisclosed terms and will subsequently provide fuel and food card/voucher services to businesses and governmental entities. The acquired company serves over 10,000 businesses with over 800,000 cardholders and beneficiaries. Purchases are predominately pre-paid, and revenues are earned both from customers and merchants.

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Visa Payments Volume Up 26.2% Y/Y

Visa reported a total payments volume in Latin America and the Caribbean of US$ 313 billion, representing a year to date 26.2% growth during the 12 months closing on June 30, 2011. Quarterly results confirm this trend with US$ 86 billion in total payments volume, for a 28.7% growth. This approach is achieving results with credit and debit payments in Latin America and the Caribbean growing at 23.9% and 29.3% respectively, in the 12 months closing on June 30, 2011.

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