Retail Decisions completes PCI-DSS 2.0 compliance

Retail Decisions (ReD) payment fraud prevention and payment processing has completed PCI compliance under the new PCI-DSS 2.0 standard. Validation of compliance is completed annually by an external Qualified Security Assessor (QSA) for organisations handling large volumes of transactions. All assessments must be under version 2.0 of the standard from 1st January 2012, so ReD has announced its upgrade to the new version 6 months earlier than is required.

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Consumers Using ePort Cashless System Spend More Per Transaction

Consumers, on average, spent one-third more when making a cashless purchase than a cash purchase, which accounted for approximately 26% of all sales at these vending machines. These findings, according to USA Technologies, are based on a July 2011 survey of over 10,000 traditional vending machines utilizing its ePort cashless payment system. They also conclude consumers spent 33% more, or $0.37 more per transaction, when they used a card versus cash on a machine equipped with an ePort, increasing the average transaction from $1.13 to $1.50 and cashless usage was approximately 26% of total sales on machines equipped with an ePort”up 73% from 15% usage in a similar study conducted just three years ago. Additionally, customers on the ePort Connect Service has risen from approximately 1,000 at June 30, 2010 to approximately 2,000 at June 30, 2011, or 100%, and connections on the service have risen from approximately 82,000 to approximately 119,000, or a 45% increase over the past year.

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Evolution1 Names New Board Member

Evolution1 electronic payment, on-premise and cloud computing healthcare solution appointed Robert J. Sheehy to its board of directors. Bringing with him extensive experience and expertise, Sheehy served with UnitedHealth Group for more than 20 years, from 1986 to 2008, becoming CEO of UnitedHealthcare in 2000. Sheehy held various multi-state and single-state responsibilities in the Midwest and led all of United’s acquisitions that were health plan focused during this period of the company’s growth. In 1998, Sheehy was named president and chief operating officer of UnitedHealthcare, and after serving as CEO for seven years, he became senior vice president of UnitedHealth Group in 2007.

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Monster Offers Launches Mobile Banking App Idea Promo

Monster Offers mobile banking solutions and Daily Deal aggregator teamed to sponsor the “Pitch That App!!!” promotion, hosted by Iconosys. The winner will receive a $500 pre-paid ZalaPay card for demonstrating the best mobile application idea that integrates mobile payments and mobile banking solutions. The “Pitch That App!!!” event is scheduled for Aug. 17, 2011 at Dave and Busters in Irvine, Calif. at 6 p.m. and will provide entrepreneurs and other mobile application developers a platform for finding partners to assist in the financing, development and creative process involved in building what could be the next block-buster app. This coincides with Monster Offers’ plans to release a full suite of mobile banking solutions with its “EZ-Pay Mobile Cashier,” Zala pre-paid Visa debit card, P2P mobile money sharing, deal wallet, redemption and merchant loyalty programs.

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8 Billion Cards in Circulation Worldwide

The worldwide figure of eight billion cards in circulation has been passed, with a fall in the number of cards in North America and more than 10% growth in the prepaid and debit card sectors. The new RBR research shows that there is still plenty to play for, with 20% of cards worldwide belonging to domestic bank card or private label schemes. The global market is projected to expand from 8.0 billion in 2010 to 10.1 billion by 2015, as a slowdown in card issuance in the mature North American and western European regions is more than offset by rapid growth elsewhere. Representing 3% of the global total, prepaid and debit card sectors each grew by more than 10% in 2010, while the credit card sector decreased by 6%. Even though credit card numbers are likely to rise over the next five years, the share of payment cards is forecast to fall by one percentage point to 27% by 2015.

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Barclaycard US and Cartera Commerce Boost Card Rewards

Cartera Commerce card-linked marketing solutions and Barclaycard US payments business of Barclays in the United States forged a strategic partnership to reward more than three million Barclaycard customers for their shopping purchases. Barclaycard is launching “Barclaycard RewardsBoost,” a new shopping platform for select co-branded card programs including Barnes & Noble, Carnival Cruise Lines, L.L.Bean, NFL and Travelocity — leveraging Cartera’s award-winning loyalty shopping platform and large multi-channel merchant network. The new program will allow these cardholders to earn discounts, rewards, miles and cash back for purchases at participating in-store, local and online retailers.

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CashTrans Introduces ATM Services Through Mobile Branch

Trust Federal Credit Union introduced a Mobile Branch, offering convenient services available Monday through Friday from 9:00 a.m. to 2:00 p.m. It now features a CashTrans ATM. Cash Transactions provides affordable ATM solutions to over 700 small and medium-sized, retailers and financial institutions. It currently drives over 100 financial ATMs throughout the southeast. In addition to deploying ATM equipment, CashTrans also offers “Turn-key Outsourced Solutions” and a complete service program that includes on-site and off-site technical assistance from certified ATM technicians and seasoned professionals. CashTrans is authorized to sell and service, Nautilus Hyosung, Triton, Hantle and other brands of ATM equipment, cash recyclers and smart safes.

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Nationwide to Implement Fico business management

Nationwide Building Society selected Fico’s “Blaze Advisor” business rules management system for its Strategic Risk Infrastructure initiative. The FICO “Blaze Advisor” will be the single risk engine that Nationwide uses to automate all risk decisions for mortgage lending and personal loans initially, with roll-out to the rest of the portfolio in the future. It will allow risk managers to quickly change decision strategies for better agility and performance. It meets Nationwide’s demands for greater decision consistency by providing a single decision engine for all of Nationwide’s risk decisions, replacing the disparate systems currently used in its mortgage and personal loans operations.

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Posera-HDX 2Q/11 Post Sales Up 16.4% Y/Y

Posera-HDX announced its financial results for the three and six-months ending June 30th, 2011, concluding the Company has performed well in spite of the difficult economic conditions world-wide, achieving an EBITDA profit of $19,272 for the three-months ended June 30, 2011, and sales and service revenues of $4,215,178, representing an increase of 16.4% from $3,620,892 from the three-months ended June 30, 2010. Excluding one-time expenditures related to legal costs, a tax judgement in the State of California and a reassessment of the Company’s investment tax credits receivable by the relevant income tax authorities, the Company achieved normalized EBITDA profit for the three-months ended June 30, 2011 of $233,513, compared to a normalized EBITDA profit of $102,923 for the three-months ended June 30, 2010. This represents an increase in the Company’s normalized EBITDA for the three-months ended June 30, 2011 of $130,590 (126.9%) compared to the three-months ended June 30, 2010.

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Actis buys Visa Jordan Card Services Company

Actis pan-emerging markets private equity investor acquired Visa Jordan Card Services (VJCS), Jordan’s largest merchant acquirer and effectively national ATM switch, for US$87 million. VJCS commands an 80% market share of the POS terminals and processes all Visa POS transactions as well as all inter-bank ATM transactions. Actis platform Emerging Markets Payments Holdings (EMPH) is intent on leading the payments business in the region. The vast majority of Jordanians have a debit or credit card, but these are underused with consumers predominantly still using cash, given card spend only accounts for 5% of personal consumption expenditure.

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