Bank of Internet introduces Advances Branch-less Banking

Bank of Internet USA introduced “MyDeposit,” allowing customers to deposit checks from their home or office using a variety of scanning devices. Offered free of charge to Bank of Internet customers, “MyDeposit” requires a personal scanning device and a registered Bank of Internet account. To deposit checks using a scanner, Bank of Internet customers should visit bankofinternet.com and log into their accounts. Choose MyDeposit, select the account into which the deposit should be made, endorse the check, enter the amount and scan both sides of the check.

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InfoTouch adds Age Verification to POS Software

InfoTouch Corporation has deployed its optional add-on module that is compatible with InfoTouch touch screen convenience store POS software, incorporating the new Honeywell’s EasyDL age verification handheld scanners. Honeywell’s Easy DL scanners are now available on InfoTouch’s touch screen convenience store POS software. All merchants currently utilizing InfoTouch’s touch screen convenience store POS software can benefit from hand held scanners integrating Honeywell’s new age verification enhancement by scanning the driver’s license. The InfoTouch touch screen convenience store POS software now is providing this advanced feature available for thousands of our merchants throughout the US and Canada.

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Best Credit Cards in America Announced

Credit.com consumer education and financial resource website announced the winners in the second installment of its best-in-class series, “The Best Credit Cards in America.” This installment features Credit.com’s picks for the “Best Student Credit Card” and the “Best Secured Credit Card.” BEST STUDENT CREDIT CARD goes to the Discover Student More Card, built with Discover’s CardBuilder tool (Harzog used CardBuilder to create a student card with up to 5% rewards and a 12-month 0% intro rate), followed by 1st Runner-up PenFed Visa “Platinum Cash Rewards for Students” and 2nd Runner-up, “Journey Student Rewards” from Capital One. Meanwhile, BEST SECURED CREDIT CARD goes to Orchard Bank Secured Credit Cards, followed by 1st Runner-up, Navy Federal Credit Union “nRewards Secured Credit Card” and 2nd Runner-up, Citi Secured MasterCard.

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USAA bank eliminates debit rewards program via CARD Act

USAA Bank is eliminating its debit card rewards program thanks to the Durbin Amendment, effective September 1. This is because the Durbin Amendment requires a cap on interchange fees, which reduces the revenue banks receive from merchants when customers use debit cards. The reduction in fees prompted the bank to re-evaluate the value of its debit reward offerings and since members favored free checking and ATM fee refunds over debit card rewards, the program has to go. Subsequently, any rewards customers have accumulated through the debit card program will be eligible for redemption or a cash payout in the fall.

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Jack Henry to offer EMV cards through FCUs

The Payment Processing Solutions (PPS) division of Jack Henry & Associates will begin offering Visa-branded chip-and-signature debit and credit cards to its credit union customers. Also equipped with the standard magnetic stripe for use in traditional card readers, the Card is initially being beta tested by Star One Credit Union in Sunnyvale, CA. EMV is valued for its enhanced security.

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B2B Soft Helps Metro PCS Customer Service

Metro PCS gave its dealers a pat on the back for an auspicious start to 2011 with a Dealer Appreciation Evening at Caesar’s Hotel and Casino in Atlantic City, NJ. As the company continues its 4GLTE service rollout across the nation, it’s seen a 28% increase in its subscriber base for the first quarter of 2011 vs. 2010, and a 21% increase over the preceding twelve month period. Its Wireless for All philosophy, with unlimited talk, text and web, with all-in pricing seems to be ringing loudly with consumers. Metro PCS dealers lauded B2B Soft’s “Wireless Standard” Retail Management Platform for being an instrumental part of some of that success.

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Element Payment and ThoughtKey Release White Paper

Element Payment Services PCI compliant payment processing and ThoughtKey PCI-focused consulting firm released the “Point-to-Point Encryption (P2PE): Reduce PCI Scope, Protect Cardholder Data and Preserve Profit” white paper. The white paper compares the benefits and pitfalls of relying solely on payment network segmentation to the robust option of point-to-point encryption (P2PE) coupled with tokenization in a highly secured hosted environment. The informative document will help merchants and independent software vendors (ISVs) address the challenges of achieving and maintaining PCI compliance. By eliminating cardholder data from a merchant’s environment, which in turn removes the payment network as a target, merchants significantly reduce the risk, cost, liability and the burden of achieving and maintaining PCI compliance.

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Sallie Mae’s Upromise Launches College Savings Program

Sallie Mae’s Upromise service launched a local program offering cash back for college at hundreds of independent local merchants around the country. Cash back is available every day at spas, restaurants, shoe stores, book stores, clothing retailers, specialty stores and more. Upromise continues to offer the nation’s largest network of places to earn cash for college with 54,000 restaurants, retail locations and service providers nationwide. Upromise members have long enjoyed rewards by shopping Barnes & Noble online, and now Upromise by Sallie Mae offers the convenience of in-store shopping at the hundreds of Barnes & Noble local retail stores nationwide. Local college savings can be scouted on the go with the free Upromise mobile app available on iPhone, iPod touch and Android smartphones, or planners can plot out purchases and dining destinations on a desktop.

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Mako Networks Appliance Awarded Security Certification

Mako Networks network management company received certification from ICSA Labs for its “Mako 6500” network appliance. This recognition comes after a comprehensive battery of tests performed on a “Mako 6500” unit sent for evaluation, checking for overall security, user administration and resilience against intrusion attempts. Mako Networks appliances allow small businesses to deploy firewalls to protect their computer networks and assist companies to comply with PCI DSS, for which it is the only certified network management company.

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MobilePayUSA Launches Private Beta Without NFC

Private beta-testing of the MobilePayUSA, non-NFC mobile payment solution has begun at a local Tutti Frutti Frozen Yogurt. Instead of waiting for NFC technology to become viable, Tutti Frutti is using the Virtual Terminal offered by MobilePayUSA for PC-based POS systems. MobilePayUSA does not use RFID chips embedded in smart phones that hold credit card numbers in order to process payments. Credit information is never stored on the phone or shared with the merchant with MobilePayUSA.

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Bayern Card-Services Implements FICO Fraud Prevention

FICO predictive analytics and decision management technology was chosen to provide analytics-based fraud protection through Bayern Card-Services with its “Falcon Fraud Manager.” With a credit card network consisting of over 5.7 million cards, BCS credit card processor is now allowed to more efficiently execute transaction evaluations to determine fraud risk. The integration of the FICO Falcon score into the business rules management system increases the precision and accuracy of fraud detection, and at the same time reduces the administration efforts for BCS, especially focused on fewer “false positive” false classifications, and faster identification of new fraud schemes.

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MoneyGram Renews Canada Post Disbursement Agreement

MoneyGram International successfully renewed its agreement with Canada Post, the largest retail network in the country, and added bill payment services to its suite of product offerings. MoneyGram will continue to provide money transfer services at over 6,200 post office and postal outlet locations throughout Canada. Since 2002, Canada Post has offered core MoneyGram services at its post office and retail locations. The new contract now adds the emergency and next day bill payment service and coincides with MoneyGram’s growth strategy which includes aligning with post offices, providing consumer with convenient access to reliable and affordable money transfer service close to where they live and work.

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