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.

Details

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.

Details

VeriFone Helps London Clean-Air Taxi Initiative

VeriFone Systems and Black Horse Taxi Finance are offering drivers black taxis a GBP3,000 financial incentive to trade in their old models for newer, low-emission vehicles that comply with age limits. This in response to the mayor of London having launched In December 2010 the air quality strategy that outlined a range of measures to improve air quality and reduce transport related emissions, including a 15-year age limit for licensed London taxis. VeriFone and Black Horse Taxi Finance are offering the incentive to reduce the financial impact for drivers who trade up to newer, less polluting vehicles through the Islington retail outlet of The London Taxi Company, the UK’s top retailer of London’s iconic black taxi and an agent and installer of VeriFone’s card payment solution. The offer only goes to the first 200 sales of new Euro 4 – TX4 Style or Elegance London Taxis, when a Fairway, TX1 or Metrocab is offered in part exchange that is “S-reg” or older.

Details

Directcash Payments Announces Regular Cash Dividend

DirectCash Payments ATM provider announced a cash dividend of $0.115 (11.5 cents) per share for the month of July, 2011. The dividend will be paid on August 31, 2011, to shareholders of record on July 29, 2011. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). The Company’s policy is to pay dividends on or about the last day of each month to shareholders of record on the last business day of the preceding month.

Details

Britons turn to credit cards 21 days after payday

It appears that Britons are likely to run out of cash and need to add to their credit card debts around 21 days after they have been paid. About 25% of UK consumers turn to their credit cards once their current accounts have run dry, according to Moneysupermarket.com. Moreover, one in ten turns to their plastic within 15 days of being paid. The Welsh are reportedly quickest to add to credit card debt, turning to their cards around ten days after payday, whereas the east of England holds out 27 days on average.

Details

Consumer Spending Growth Way up in 2Q/11

Moneris Solutions (Moneris) credit and debit card processor announced that the Canadian retail economy saw a positive results across the country in consumer spending, with an overall increase of 3.80% compared to the same period last year. With the largest growth of 5.06% seen in June followed by 4.38% in May and 2.42% in April, spending in the fast food sector saw the greatest increase of 11.25 per cent in dollars spent. Apparel was the runner-up category, with men’s and women’s clothing, and sports apparel realizing 11.10 per cent and 6.33 per cent increase, respectively. Across all categories, the average purchase amount for both credit and debit card remained constant compared to the previous quarter at $115.67 and $48.00, respectively.

Details

ValidSoft CEO Interviewed by CEOLive

On CEOLive, ValidSoft CEO Patrick Carroll touted the company’s “privacy by design” features as positioning the company well to respond to worldwide concerns over fraud and privacy. Carroll also pointed out that the growth of NFC and “tap and go” payments using cell phones rather than credit cards would lead to a five-fold increase in electronic transaction volumes and favors ValidSoft’s multi-factor authentication approach to fraud prevention. ValidSoft’s Card Fraud prevention and detection authentication, designed to take place in 400 milliseconds, includes “something you have” (a mobile phone) coupled with “somewhere you are (or not).” ValidSoft’s fraud prevention solutions are attractive due to the fact that their privacy considerations are “built-in, by design” and help protect against the most sophisticated security attacks by being globally organized, multi-layered, and effective 24 hours a day/7 days a week, while remaining invisible to users.

Details

Bank of Ireland Appeals to Students

Third level students who open an account with Bank of Ireland this year can avail of free day-to-day transaction banking, interest free loans and a free European flight as part of a comprehensive student package launching in branches nationwide this week. The package is designed to help students deal with the inevitable cash-flow challenges during college years and includes a student overdraft, a credit card and other benefits such as discounted foreign exchange. Parents too can benefit from initiatives such as a new college fees loan to fund the payment of increased college registration fees. The package includes free banking on day-to-day transactions; 9 months interest free grant advance overdraft; 9 months interest free travel loan; Discounted student loans at 11.9% APR; student credit card offering 0% interest on purchases for 6 months; and an ATM/Laser card for worldwide access to cash.

Details

AsiaPay expands its payment services and technologies

AsiaPay launched its “PayDollar” advanced, secured and comprehensive online payment services and technologies to banks, merchants and payment service providers. AsiaPay established its tenth sales and service operation in Kuala Lumpur. AsiaPay Malaysia is able to support merchants in processing credit card transactions with four leading banks as well as direct debit payments. AsiaPay is a certified International 3D-Secure vendor for Visa, MasterCard, JCB, and American Express, and has been PCI DSS compliant since 2006.

Details

CPM’s Pan European Contact Center attains PCI DSS

CPM’s Pan-European, multi-channel contact centre of excellence is delighted to announce they have just received the accolade of full PCI DSS accreditation. The operation is located in the heart of Barcelona and is now one of the only call centres across the region to provide a fully secure, credit card payment processing solution to its clients. Achieving complete Payment Card Industry Data Security Standard compliance has not only enabled CPM to enhance the service provision for three of its existing global hospitality and FMCG accounts; it provides prospective clients with a fully accredited and secure PCI environment from which to undertake a range of international projects requiring online payment processing capabilities; whilst simultaneously being able to take advantage of one of the richest and financially attractive, multi-native labour pools across Europe.

Details

Xsilva Systems rebrands as LightSpeed, opens API for custom apps

A new open API that will drive the development of creative custom Point of Sale applications and a powerful eCommerce connector that supports the market-leading Magento platform, are the major new features of LightSpeed version 3.5 released today by Xsilva Systems. The company also announced it is rebranding as LightSpeed to capitalize on the worldwide reseller network, extensive user base and broad brand-name recognition it has established for its acclaimed retail technology since launching in 2005. Additionally, version 3.5 updates LightSpeed Mobile and is ready for the new Mac operating system, Lion. The opening of the API makes LightSpeed a dynamic POS platform that caters to the store owner, developer or IT manager looking to build custom add-ons to the platform, while still remaining an easy-to-use, well-priced and richly functional out-of-the-box system that is attractive to small- to medium-sized retailers.

Details

Collective POS to Implement Hypercom POS

Collective Point of Sale Solutions payment processing services has selected and will deploy at least 2,000 Hypercom “Optimum T4220” countertop point of sale terminals with the SPOS32 magnetic stripe and EMV software application. Collective POS has also selected Hypercom’s “Term-Master” Suite terminal management software system to streamline terminal set-up and management. Hypercom’s PCI-approved and Interac-certified “Optimum” fixed countertop and mobile payment terminals for Canada include the “Optimum T4220” (Ethernet with dial), “Optimum T4210” (dial), “T4230” (GPRS with dial) countertop and “M4230 GPRS” and “M4240 Bluetooth” mobile card payment terminals.

Details