VersaPay Retains Investor Relations Services

VersaPay merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions has retained Winnipeg-based SectorSpeak to provide its investor relations services. SectorSpeak focuses on introducing small to mid-cap public companies to brokers and institutional investors throughout Canada and Europe. VersaPay’s financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions. It serves more than 2,500 Canadian businesses with payment services and financial technology and provides the hardware, technology, infrastructure and support services that businesses of all types require to accept and process electronic payments from their consumers and clients.

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Payment Pathways Receives U.S. X2X Payment Patent

Payment Pathways privacy management solutions has been awarded Patent Number 7,831,490 by the U.S. Patent & Trademark Office for an Internet-based registry of openly accessible electronic payment addresses. Known as the e-payments “Greenlist” registry, the invention provides the user with a way to locate a virtual listing for payment addresses just as the “white pages” found phone numbers and physical addresses. Unlike current payment mechanisms, “Greenlist” allows people and businesses to pay directly from their bank accounts without having to stage money somewhere else first. Its Ultimately a pointer securely keyed to the actual financial institution accounts and routing information to solely expose the payment addresses of deposit-only bank accounts.

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Discover Offers More Cash Rewards Opportunities

Discover announced more seasonal opportunities for cardmembers to earn Cashback Bonus. From January 1 through March 31, Discover Cardmembers can sign up to earn 5% Cashback Bonus on up to $800 in travel and restaurant purchases. The category is the first of four rotating categories that change each quarter, giving cardmembers the opportunity to earn 5% Cashback Bonus all year long. After reaching the $800 spending limit for the quarter, cardmembers will still automatically earn up to 1% Cashback Bonus every time they use their cards. Other Discover reward opportunities include 5% Cashback Bonus; “Expanded Redemption Options”; and “ShopDiscover.”

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CreditCall Introduces Contactless Kernel to EMV Software

CreditCall has added Contactless.LIB contactless payment capability to its EMV Level 2 range of software Kernels. Terminal manufacturers and payment software developers can now quickly and easily integrate Contactless Kernel technology into their solutions to mitigate against the high cost of development and maintenance. The fully featured Contactless Kernel enables acceptance of Visa contactless and MasterCard PayPass enabled cards in retail and unattended environments. It meets all current Visa, MasterCard and EMVCo standards and allows support for additional contactless card schemes such as NFC. Contactless.LIB supports MasterCard’s PayPass M/Chip and M/Stripe in addition to Visa’s qVSDC and MSD functionality.

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Zions Bancorporation Offers Fiserv Check Recovery

Zions Bancorporation is making “Check Recovery” electronic check re-presentment service from Fiserv available to its business customers. This is designed to streamline and accelerate the recovery of bad checks and lost funds by automating the collection process. The Fiserv “Check Recovery” solution will provide Zions Bancorporation’s business customers with a free end-to-end solution for lost funds recovery and an optional POS check authorization component to reduce exposure to fraud and loss. Zions Bancorporation also implements Fiserv account processing, bill payment, ACH processing, cash supply chain management, risk and compliance and remittance.

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Monitise Launches its First mMoney Android App

UK-based Monitise Mobile Money solutions has launched its US mobile money app for Android handsets. The apps use the company’s “Globe” technology platform to offer account balance inquiries, mini-statements, money transfer and bill payment. The new apps complement the existing suite of text, secure browser and smartphone services provided in the US by Monitise.

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eMerchantPay Scores at Affiliate Summit West

eMerchantPay (www.eMerchantPay.com) was pleased to see such strong attendance by many key decision makers at Affiliate Summit West 2011 internet marketing show. eMerchantPay had one of the busiest booths and experienced a positive response at the show, showcasing its advanced payment processing solutions and customizable billing tools. The eMerchantPay payment platform is PCI DSS Level 1 Compliant, and every transaction is authorized after being checked with various risk-prevention tools. Coupled with this risk management and diverse/broad banking relationships, eMerchantPay is targeting the growing needs of online merchants.

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E-Commerce Website Cautions on Security Breach

Hackers got into lush.co.uk, website of a U.K based cosmetic company. The company has notified the customers of the alleged security breach and possible compromise of confidential customer information and payment details.The security notification by the e-commerce company alerts all customers who had made online purchases during the last four months to check their bank and credit card statements for unauthorized transactions. Several customers have reported unauthorized transactions on their credit card account after the incident. The alleged intrusion has put sensitive customer information such as name, credit card information, online shopping accounts, e-mail id, mailing address and contact numbers of thousands of customers at risk. Customers who maintain same used id and passwords for different online accounts are more vulnerable to data theft and information compromise. E-commerce websites must comply with payment card industry data security standard (PCI DSS) to ensure security of all customer related data, robust access control mechanism and maintaining and enforcing information security policy.

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Economic Uncertainty Fuels Less Credit Card Use

Consumers in the UK are consciously choosing to use debit cards (and other forms of payment) instead of credit cards for day-to-day purchases thanks mostly to economic uncertainty. Credit card users were asked to predict how changes in the economic environment would impact their use of credit cards, to which 26% responded they would decrease their usage of credit cards if the economy improves while 39% of those plan to decrease their usage of credit cards if the economy declines. This, according to the Auriemma Consulting Group (ACG), suggests a continuation of the trend that has seen the percentage of purchases made with credit cards decline from 31% in Q3 2009 to 25% in Q3 2010 (debit cards and direct debit transactions increased from 33% to 38% over the same time period), a surprising result indicating that, regardless of the economic situation, consumers intend to move further away from credit cards.

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AmEx Card Rally Continues, Up $106mm Q/Q

American Express U.S. Card Services posted 4Q/10 net income of $701 million, up 70% from $413 million a year ago. Total revenues net of interest expense increased 18% to $3.8 billion from $3.2 billion. This was thanks in part to higher cardmember spending. Provisions for losses totaled $111 million, down 68% from $346 million a year ago thanks to improved credit quality. Total expenses increased 18%, with marketing, promotion, rewards and cardmember services expenses up 16% from the year-ago period and salaries and employee benefits up 22%. The American Express International Card Services, meanwhile, reported 4Q/10 net income of $102 million, up 48% from $69 million a year ago. Total revenues were up 2% to $1.2 billion, also thanks to higher cardmember spending, while provisions for losses totaled $80 million, down 75% from $324 million a year ago.

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Fiserv and WorkLight Partner to Deploy Financial Apps

Fiserv and WorkLight multi-channel application technology are teaming to offer financial institutions applications and widgets through social network sites, desktop computers, tablets and smartphones. Fiserv will use the WorkLight Platform to build, run and manage applications, both custom and packaged, for desktop computers, tablets, smartphones, and other emerging devices. Initially, the two companies will focus on the delivery of lightweight, toolkit payment applications for gifting, alerts, and donations that will complement existing Fiserv products and services. This partnership will allow banks and credit unions to extend new and existing banking and payments “apps” to multiple environments beyond their traditional online or mobile presence. Use of the WorkLight technology will enable Fiserv and its financial institution clients to meet the challenge of developing services for a proliferating variety of online and mobile platforms and devices.

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Credorax set to Unveil eCommerce Processing

Credorax is set present its integrated e-commerce credit card acquiring and payment processing solutions at the ICE Totally Gaming 2011 Expo in London. The integrated solution is designed to save organizations ecommerce processing fees and improve transaction approval rates. Credorax offers multi-currency vertically integrated credit card acquiring services through its payment gateway. CredoRax delivers its security using data encryption, PCI compliance, 3D secure, and a state-of-the-art fraud protection suite and provides real-time reporting with interactive dashboards & mobile capabilities. Its online credit card clearing services are provided directly to IPSP’s and merchants eliminating banking fees and other third party services and fees that are typically required to complete an online transaction.

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