American Express Canada launched its “FX International Payments” (FXIP) foreign exchange payment solution for Canadian businesses, allowing clients to make foreign currency transactions at competitive rates and with the convenience, security and control of 24/7 online service. With “FXIP,” businesses can offer customers a simple, convenient and tailored way to manage worldwide payment needs, supported by a secure online platform to provide important protection. It includes competitive live exchange rates on more than 110 currencies; an online, convenient and secure payments platform available 24 / 7 that enables the management of all transactions in one place; lets American Express Cardmembers earn Membership Rewards points on foreign exchange transactions at a rate of 1 point for every $30 transacted; and a secure online platform which can be tailored to individual business requirements.Details
eBay outlined its three-year growth plans, projecting double-digit annual revenue and earnings growth for 2011-2013, with revenues expected to reach at least $13 billion in 2013 compared to approximately $9 billion in 2010. These projections are based on the continued strong global momentum at PayPal and profitable growth at eBay. This is in addition to the Company’s mobile commerce revenue streams, with more than 30 million downloads of its mobile applications, allowing eBay mobile gross merchandise volume to double to $4 billion in 2011. For 2011-2013, total company revenues are expected to reach $13 billion to $15 billion in 2013, up from $9.2 billion in 2010, led by continued innovation in both of the company’s core businesses. With this, PayPal is expected to significantly increase revenue to $6 billion to $7 billion in 2013, driven by consumer preferences, market expansion, and innovation in the areas of mobile, digital, social and local.Details
Credit card transactions are now even more secure thanks to the latest technology developed by Desjardins. End-to-end data encryption completely eliminates exposure of card numbers at points of sale during the payment process. With the participation of Ingenico, Desjardins has developed a payment solution that encrypts credit card data throughout the entire transaction. This new technology will make it easier for retailers to comply with PCI-DSS, under which strict security measures must be implemented at points of sale to protect credit card data exposure during the payment process. From the moment the card is read by the store’s PIN-pad to the transmission of the data to the Desjardins host system for authorization, the data remains protected.Details
Datacard Group has made available its new laser engraving module for the “Datacard MX6000″ card issuance system that exceeds the throughput and card security standards set by government agencies and financial institutions worldwide. This allows issuers of secure IDs or financial cards to engrave images, grayscale photos, bar codes, text and other variable data making forgery and alteration nearly impossible. It offers additional highly secure personalization features such as CLI (vertical tilted) engraving, MLI (horizontal tilted) engraving, tactile elements, and microprinting ” for identification and financial cards. It integrates with existing “MX6000” systems and is most commonly used with other system modules such as color printing, magnetic stripe encoding, smart card personalization and Datacard “DuraGard” lamination.Details
Gemalto’s Cinterion cellular machine-to-machine communication modules has partnered with Numerex M2M solutions to distribute and integrate the Cinterion modules across all M2M markets. Allowing customers to rapidly implement M2M applications, Cinterion offers security products covering wireless communication modules, Machine Identification Modules (MIM), advanced value-added software applications and remote management services. The agreement combines Cinterion’s broad portfolio of award-winning wireless communication modules with Numerex’s unique DNA® service model (Device, Network, and Application) for its range of integrated services.Details
Bluepoint Solutions, provider of Check 21, remote deposit capture, item processing and enterprise content management solutions for financial institutions, has been selected by four credit unions to implement its “QwikDeposit ToGo” mobile remote deposit capture platform. Bluepoint’s “QwikDeposit ToGo” solution lets members securely deposit checks with a camera-equipped smartphone, providing the convenience of anytime, anywhere deposits. The application is configured to support the majority of the smartphones available in the U.S. market and deploys Mitek Systems’ patented mobile RDC solution.Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] As consumer credit card debt lurched up for the first time in nearly 2 and half years by $2.3 billion in December 2010, January credit card chargeoffs inched higher as well from 8.3% in December to 8.4% in January. This small increase in chargeoffs coincides- and is most likely subsequent to-…Details
Visa has set forth to acquire PlaySpan in its most recent agreements for $190 million in cash, complimenting its 2010 CyberSource acquisition and to further tap the digital and mobile commerce market of nearly $948 billion, globally. Providing a payments platform to handle transactions for digital goods in online games, digital media and social networks, PlaySpan offers a Monetization-as-a-Service platform that allows merchants to monetize their content using a broad suite of payment and commerce-related solutions in fraud and risk management, analytics, merchandizing and global payment connectivity.
Visa’s fiscal 1Q/11 posted 25% year-over-year growth in eCommerce payment volumes globally, a segment in which PlaySpan with having generated an estimated $25 billion in consumer spending globally in 2010.Details
In conjunction with increasing consumer confidence in the young 2011-along with unemployment and chargeoffs-more consumers pulled out their credit cards in January. Total dollar volume growth for all card types was up 7.4% since the year ago period and 6.5% from the previous month while transaction growth increased 8.3% in January from the 7.6% growth in December.
Corroborating CardFlash research, consumer credit card spending saw its first increase in 27 months, these findings are according to First Data’s “SpendTrend” analysis, which also shows transaction growth on credit cards was at a 13-month high in January and year-over-year credit dollar volume growth was the second highest in over a year.
Moreover, total revolving credit balances increased in December for the first time in over two years and likely increased in January. However, the average ticket growth declined -0.8% on a year-over-year basis, although this was a slight improvement from December’s average ticket decline of -1.0% as consumers continued to bargain shop.Details
Saudi Arabia-based Mobily mobile operator has started deploying the Gemalto bio-sourced SIM, made with renewable material and easily recyclable, for its more than 18 million subscribers. The Gemalto SIM is fully compliant with telecommunications standards and its card body is certified 100% compostable, focused on reducing the environmental impact while providing high-standard technical properties. The new card also enables Mobily to convey their visual identity by displaying their branding with quality colors and graphics.Details
Elavon has Class-B certified Hypercom’s “SPOS32” EMV and PA-DSS approved payment software on the PTS approved Optimum “T4200” and “M4200” mobile products. Elavon payment acquirers is among first to do so and can now process credit card transactions originating from the Hypercom devices in Canada on the Hypercom high-security platform.
The PTS-approved and Interac certified Optimum “T4200” and “M4200” product family consists of six powerful 32-bit multi-application systems that share the same platform, user interface, and software toolkit to maximize efficiency, application portability, and offer customers a broad range of options to serve any market need.Details
Available in March, DeviceFidelity is set to demonstrate its updated “In2Pay” V3. The “In2Pay” V3 turns mobile phones into a “mobile wallet” and lets users make payment transactions with their handsets. It also brings additional NFC capabilities to the mobile device, delivering contactless reader and Peer to Peer transaction capabilities. These features enable users to scan smart posters and electronic coupons, upload the information to their mobile phones, and apply discounts at the time of purchase.
These features also allow mobile merchants to use the iCaisse4 as a Mobile POS terminal to accept the various types of contactless cards issued all over the world. In2Pay V3 utilizes on board near field communication PN series NFC controller and SmartMX secure element from NXP Semiconductors.Details