Moneris Posts Over $10mm Savings Thanks to ACI

Moneris Solutions debit and credit card transactions has implemented ACI “Proactive Risk Manager,” abandoning its in-house processing system. The project integrated with the existing implementation of ACI “BASE24” for transaction processing, and now processes more than three billion transactions a year. The “Proactive Risk Manager” detects and manages merchant fraud, which has reduced identifiable fraud by 25 percent year over year. Meanwhile, the ACI “Acquirer” supports the full life cycle of merchant portfolio management, including merchant boarding, transaction acquisition, interchange fee qualification, settlement and statement generation. The “Proactive Risk Manager” can identify subtle patterns of fraudulent behavior by comparing deposit and authorization activity against the merchant’s historical activity.

Details

Green Dot to Present at ICR Conference

Green Dot announced that the Company will be participating at the 13th Annual ICR XChange Conference on Wednesday, January 12. It will address the Company’s prepaid financial services providing low-cost and convenient money management solutions to a broad base of U.S. consumers. Green Dot also owns and operates the Green Dot Network, a leading prepaid card reloading network in the United States. Consumers can access the Green Dot Network and use it for a wide variety of transactions, including cash loading onto prepaid cards and adding funds to a PayPal account through MoneyPak®. Green Dot sells its cards and offers reload services nationwide at approximately 50,000 retail stores.

Details

Bankruptcy Filings Up 3% M/M, 9% Y/Y

December US consumer bankruptcy filings were up 3% to 118,146 from the
November figure of 114,587 and up 4% on the year ago figure of 113,274.
For the full 2010 year, U.S. consumer bankruptcies increased 9% from
2009, according to the American Bankruptcy Institute (ABI) and the
overall consumer filing total reached 1,530,078 compared to the
1,407,788 total consumer filings recorded during 2009. Annual consumer
filings have increased each year since the Bankruptcy Abuse Prevention
and Consumer Prevention Act was enacted in 2005. Chapter 13 filings
constituted 30% of all consumer cases in December, a slight
increase from November.

Details

USA Technologies Expects Record Performance

USA Technologies wireless cashless transaction network is projecting record quarterly revenues and gross profit for its fiscal second quarter having ended December 31. The Company is anticipating financial results for the three and six months ended December 31 to reflect a 73% increase in the number of devices connected to its network to in excess of 109,000 compared to approximately 63,000 connections as of December 31, 2009; a 95% increase in the number of cashless transactions processed during the quarter to 15.9 million, compared to 8.2 million transactions processed during the prior year’s fiscal second quarter; and the dollar value of transactions processed in its fiscal second quarter to increase 75% to $26.2 million, compared to $15.0 million during the fiscal second quarter last year.

Details

Invoicera Integrates Beanstream Payment Gateway

Invoicera online invoicing has integrated the Beanstream payment gateway to offer more payment processing options for the merchants who
specifically intend to use Beanstream as their preferred payment gateway.
Beanstream links customers, merchants, and financial institutions and
facilitate electronic transactions. Beanstream provides credit card
processing, recurring billing, electronic funds transfer, automated
clearing house payment processing and authentication services, along
with routing of selected transactions to third party processors and
banks for authorization and settlement and check recovery services .
Beanstream also provide a suite of tools to help in the identification
and reduction of online fraud. Beanstream direct debit and direct
payment services let you to debit and credit bank accounts with minimal
effort.The Beanstream online credit card processing gateway supports Canadian
and US dollar transactions for the most popular credit cards. Meanwhile,
Invoicera online Invoicing software offers its clients business invoicing.

Details

TSYS Acquires Remaining 49% of First National Merchant Solutions

TSYS has acquired the remaining 49% interest in First National Merchant Solutions (FNMS) from First National Bank of Omaha (FNBO) and will subsequently be re-branding it “TSYS Merchant Solutions.” TSYS formed a joint venture with FNBO in April 2010, when it acquired a 51% controlling interest in the direct merchant acquirer and transaction processor. TSYS acquired the remaining 49% for approximately $169.6 million. The transaction closed Jan. 1, 2011.FNMS offers transaction processing, merchant support, credit underwriting, risk management and value-added services, as well as Visa and MasterCard branded prepaid cards for businesses.

Details

VeriFone and Gemalto Advance Partnership

VeriFone Systems and Gemalto announced further developments in their broad strategic partnership, which will feature cooperative efforts in EMV chip card solutions, Verifone taking control of Gemalto’s POS solutions business and Gemalto’s appointment as the preferred supplier of Machine-to-Machine (M2M) wireless modules and related solutions for VeriFone payment systems. With this, they will introduce EMV chip and pin solutions for the U.S. market as U.S. banks, retailers and card networks increasingly acknowledge chip card and contactless technologies as a core component of a comprehensive security infrastructure. The partnership EMV smart card solutions will offer expertise for both issuing and accepting smart cards for a ready infrastructure to advance the U.S. market towards a much more secure and convenient payment method. Gemalto has been designated VeriFone’s preferred supplier of M2M wireless modules and related solutions. For VeriFone’s planned European expansion campaign, the partnership will operate out of France and serve as an ideal initial step. This expansion came within days of VeriFone having taken-over Hypercom. This only after unsolicited September 24th, 29th and 27th proposals Verifone made to acquire Hypercom outstanding shares for $5.25 per share in cash for a total of $290 million, all unanimously rejected by the Hypercom Board (Cardflash Library 2010/10/21).

Details

Integrated Bank Technology Goes Live

First National Bank of Bangor, Wisconsin, has gone live with the IBT financial services’ “i2Core” banking solution. The “i2Core” platform utilizes the latest in available technology to deliver real time information across all customer delivery channels. IBT’s design increases its value proposition with the delivery of real time transactional alerts to mobile devices and i2OLB (On-Line Banking), coupled with instant access to images processed through i2Teller (Teller Capture) and i2RDC (Remote Deposit Capture). This customer-centric innovation model continues to keep pace with the consumer demands in the financial services industry.

Details

OTI Expands International Presence

On Track Innovations contactless smart card solutions has entered into an agreement through its PARX subsidiary to acquire the assets of Ganis Systems parking solutions to benefit its marketing and product offering. This will let OTI leverage Ganis’ existing projects and pipeline of opportunities mainly in the European and North American parking markets. OTI plans to bring its financial and implementation capabilities into selected projects and opportunities Ganis has built to offer its customers parking needs in the long term. For acquisition consideration OTI will pay Ganis $400,000 in cash and will issue to it 130,521 ordinary shares of OTI. The ordinary shares will be subject to lock-up, where 26,760 ordinary shares will be free from lock up seven months after the closing date and an additional 34,587 ordinary shares will be released from lock-up 12, 18 and 24 months after the closing date.

Details

Gemalto Closes POS Solutions Operations Sales to VeriFone

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Gemalto has closed the divestment of its POS solutions business to US-based VeriFone Systems secure electronic payment solutions, for which financial terms were not disclosed. The cooperation also includes the joint launch of EMV chip card solutions in the US and an agreement for Gemalto to become VeriFone’s preferred supplier of…

Details

United Bank Card Launches Free POS Program

United Bank Card (UBC) ISO partners are now able to offer potential merchants a free “Harbortouch” POS system with integrated payments The “Harbortouch” POS offers higher than average residuals and virtually non-existent attrition while providing a valuable tool to merchants. The standard “Harbortouch” system utilizes 5-wire resistive technology to help it last up to 35 million touches and features 160GB of storage space and 1GB DDR2 memory. Additionally, the “Harbortouch Hospitality 3.0” improves significantly on its predecessor with the addition of new Harbortouch Retail software that is wizard-based to guide the merchant step-by-step through the initial setup. This simplified setup process and intuitive user interface offer an easy transition for merchants so they can take advantage of all the benefits of POS without all the hassle.

Details

Discover Offers Cardmembers NHL All-Star Exclusives

Discover Financial Services is offering a lineup of cardmember exclusives at the 2011 NHL All-Star Game. This lets its Cardmembers purchase premium tickets to the game by redeeming Cashback Bonus rewards. It also gives qualified customers 2 Tickets to the Honda NHL SuperSkills on January 29; 2 Tickets to the NHL Fan Fair; and an NHL All-Star Game gift bag. Discover is the presenting sponsor of the NHL All-Star Game and is the Official Card of the NHL, NHL All-Star Weekend, NHL Winter Classic, NHL Awards, and the NHL Draft.

Details