SmartCard Marketing Launches Credit Card Payment API

SmartCard Marketing has launched its “Application Programming Interface” (API) for merchants
currently using the Velocitymoney.com platform. API allows merchants to completely integrate their customers directly
into “Velocitymoney.com” and transact independently with the full suite of
global financial payment methods including credit card
payments. When a merchant registers with Velocitymoney.com they immediately have
access to a multiple of payment methods of which they can make available
to their customers for payment collection, money remittance, peer 2 peer
transfers, expense reimbursement and payroll. The customer profile
virtual account manager allows merchants the flexibility of tracking and
complying with Patriot Act and KYC (know your client) regulations which
are becoming more stringent.

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Hypercom Data Encryption Meets SPVA Requirement Guidelines

Hypercom Corporation “HyperSafe Secure” suite of payment data encryption technology meets the new security requirement guidelines issued by the Secure POS Vendor Alliance (SPVA). Now available globally, the Hypercom end-to-end encryption technology was introduced in 2006. Unlike recently introduced competitor solutions that require the purchase of custom equipment or utilize third party decryption services, EFTSec leverages a bank’s or retailer’s existing network infrastructure. In October 2009, Hypercom announced five key initiatives to boost the payment card industry’s ability to thwart payment card data fraud. The SPVA end-to-end security requirement guidelines are designed to promote information security best practices and provide merchants with a clear understanding of what encryption features should provide to reduce information security risks related to payment account data.

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C$ cMoney Appoints William Watson as COO

William Watson has been appointed COO for the TX-based cMoney mobile technology company. Bringing with him 20 years’ experience of, Watson will oversee the everyday operations and functions of C$ cMoney, resolving any issues that may arise and ensuring the system-wide implementation of the company’s policies and procedures. He is well versed in executive management and leadership for Neupara Corporation and International Mobile Communications, focused on telecommunications and mobile technology services. With Neupara, Watson managed global sales, business development, operations, network design and construction, identifying technology partners, and device/chip set development. He was responsible for winning $30 million in contracts for project management and software development services with international mobile carriers Sprint, AT&T, S2M, Telephonica, BellSouth International, SK Telesis, KT Telecomm and Pixtree.

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First Internet Bank Expands mBanking Services

First Internet Bank released its text message account access banking service. This allows customers to receive their current account balance and transaction history via text message in a matter of seconds. Customers may activate the service for their phones through the Bank’s secure website. Once enrolled, customers simply text commands to a designated short code to get a real-time account balance report or receive an update on the most recent transactions on an account. Customers may also sign up to receive a weekly balance alert, sent each Friday. In 2008, First IB introduced mobile web banking, a browser-based solution that allows customers to check balances, review transaction history, transfer funds, and pay bills.

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Company Profile for FSV Payment Systems

TX-based FSV Payment Systems, established in 1999 as a prepaid card processor and program manage, has since implemented hundreds of prepaid programs. Currently processing millions of prepaid cards and billions of dollars each year, FSV’s in-house proprietary processing platform and customer service center results in faster time-to-market delivery and superior client and cardholder service. FSV provides a comprehensive suite of prepaid cards, products and services to a broad range of clients, including: retail (general purpose reloadable and gift); payroll; government disbursements (unemployment, child support, etc.); rebates, promotions and incentives; and healthcare.

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CRIF Opens U.S. Headquarters

Global credit service provider CRIF has opened of its North American headquarters
office in Atlanta, Georgia. The office will serve as the operational hub for the
CRIF Lending Solutions family of companies that includes Teres,
Magnum, FLS Services, APPRO CRIF and Aimbridge. The companies will each
maintain their respective regional offices. Hundreds of the nation’s top financial institutions and lending
organizations now rely on loan origination technology, outsourced loan
processing services, and analytics solutions offered by CRIF. Key
product and service offerings include, loan origination, outsourced loan processing and analytics –
CRIF is a global company specializing in the development and management
of credit reporting, business information and decision support systems.

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NIH FCU Outsources ATM Management to First Data

MD-based National Institutes of Health Federal Credit Union
(NIHFCU) will outsource the management of its ATMs to payment processor First Data.
The credit union also has renewed its agreement for electronic funds
transfer (EFT) services through First Data’s STAR Network. First Data and its partner NCR will provide full-service ATM management
services, including ATM driving hardware and software, ATM first line
and second line maintenance, and Check 21 deposit acceptance. NIHFCU
will use NCR APTRA Deposit Gateway, a web-based software-as-a-service
(SaaS) solution that enables financial institutions to perform check
image processing for envelope-free deposits made at the ATM.
In addition to providing STAR Network access, First Data also will
provide signature debit processing, and the credit union’s account
holders gain access to more than 37,000 surcharge-free ATMs through
STARsf. NIHFCU also offers access to its cardholders at other
surcharge-free ATM networks. STAR is one of the nation’s leading EFT networks with more than two
million retail and ATM locations. The network has processed more than
3.6 debit transactions in the U.S. in each of the last three years.
NIHFCU currently serves more than 42,000 members through 10 branches and 28
NIHFCU-owned ATMs conveniently located in the Washington, D.C. and
Baltimore, Md. metro areas.

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Fiserv Trial Sees 25% Merchant RDC Increase

The Fiserv “Merchant Acceleration Program” helped most participants increase the number of merchant remote deposit capture (RDC) users by at least 25%. The “Merchant Acceleration Program” is designed to help increase awareness and adoption of merchant capture solutions by businesses and help financial institutions target industries that are typical users of merchant capture better serve these businesses. Merchant capture enables paper checks to be scanned as electronic images so deposits can be made from a remote location, such as a store or office, to a financial institution account without travelling to the branch. Fiserv introduced its “Merchant Acceleration Program” in 4Q/09 as a trial, in which 10 banks participated, prompting Fiserv to extend the program to all Fiserv merchant capture clients in 2010.

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Visa payWave Gains Momentum

Visa Canada announced that the roster of Visa payWave-enabled merchants continues to grow, enabling Canadians to make secure, more convenient transactions and experience fewer and quicker line-ups when buying a cup of coffee, a bite to eat or other every day purchases.
In recent months, an increasing number of new merchants have signed up to receive the advantages of Visa payWave. Using their Visa payWave-enabled cards, Visa cardholders can shop at some of Canada’s most popular merchants, including SUBWAY, Second Cup, The Jean Coutu Group, Country Style and Coffee Time. Visa issuers have also embraced contactless technology. TD Canada Trust and RBC Royal Bank value the convenience, security and speed of Visa payWave and are actively issuing Visa payWave cards to their customers. By the end of 2010, it is expected that there will be several million Visa payWave cards in the Canadian market.

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US Community Credit Union Now Offering DCS Instant Issue Cards

Instant issuer Dynamic Card Solutions announced that
TN-based US Community Credit Union is utilizing its instant issue software and
associated hardware to offer its members personalized debit cards
on-demand at the branch level. US Community Credit
Union chose DCS as its instant issue provider of choice, implementing
DCS’ “CardWizard” instant issue software, FCP 20/20 card printer, and PIN
selection devices. The credit union has the ability to print multiple
card images on-demand with DCS’ FCP 20/20 card printer, and now offers
21 different background images that members can choose from. Cardholders
can also choose their own PIN at the branch.
Issuing the personalized card on-demand and allowing the member to
choose their own PIN at the branch level eliminates the need to send the
cards through the mail, which can take up to seven to 10 business days. USCCU has 20,000 members and over $130
million in assets.

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Discover Offers Military Members and Their Families Double Rewards

Discover Financial Services announced it will automatically reward Discover cardmembers with Double “Cashback Bonus” or “Double Miles” when they make purchases at U.S. military bases from Memorial Day through Labor Day. It will include military installations in the United States and overseas, and includes purchases of up to $1,000 made at commissaries, exchanges, shopettes/convenience stores, exchange catalogs, exchange online stores and exchange gas/service stations on-base. Cardmembers also have the ongoing option to donate their “Cashback Bonus to Operation Homefront,” which is a non-profit organization that provides emergency assistance and morale to our troops, their families and to wounded warriors when they return home. The organization leads more than 4,000 volunteers in 30 chapters serving 37 states nationwide. Cardmembers can learn more at Discover.com/military and www.ItPaystoDiscover.com.

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Western Union Announces Organizational Changes to Improve Efficiency

The Western Union Company announced a global initiative to simplify its business processes, move decision-making closer to the marketplace, and leverage its cost structure. The multi-phased initiative includes a smaller, more streamlined management and changes to its global operations with fewer reporting layers. With this, the number of Executive Vice Presidents, Senior Vice Presidents, and Vice Presidents will be reduced, mostly over the next 30 days. A new Executive Vice President position will be created, focusing on electronic channels and new customer segments, both consumer and business. The proposed changes to business operations include the closing, consolidation, and downsizing of facilities and the creation of a new regional operations center in Europe.

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