TX-based StoreNext Retail Technologies and Chase Paymentech Solutions, have signed a referral agreement that enables merchants to access StoreNext’s “Connected Payments” program payment transaction processing services. Connected Payments is designed to help independent grocers slash electronic payments fees by 25 percent or more while eliminating up-front software license costs and maintenance charges. Merchants implementing such key features as credit-to-debit conversion, signature capture and electronic check conversion will potentially generate $10-$20 in savings for every dollar of Connected Payments subscription fees. Connected Payments can be used in conjunction with StoreNext’s Connected Services program, which provides independent grocers access to Internet-based enterprise applications via a low monthly subscription. Chase Paymentech Solutions is a global payments firm and the world’s largest merchant acquirer. StoreNext Retail Technologies is supplier of retail technology to independent grocers and regional chains.Details
Major department store chain David Jones has reportedly named Citigroup and American Express as the finalists in its quest for a co-branded credit card partner. The retailer is planning to ink a deal this fall with either company and have a card in the marketplace by early next year. David Jones considered proposals from 11 card issuers.
David Jones receives about 16% of its EBITA from financial services, which includes a store credit card.
Major Australian department store chain David Jones has reportedly named Citigroup and American Express as the finalists in its quest for a co-branded credit card partner. The retailer is planning to ink a deal this fall with either company and have a card in the marketplace by early next year. David Jones considered proposals from 11 card issuers. David Jones receives about 16% of its EBITA from financial services, which includes a store credit card.Details
Datacap Systems’ AutoLoad versions of “IPTran” and “TwinTran” have been certified and are now available for Chase Paymentech merchants. AutoLoad simplifies the deployment process for ECR/POS resellers by enabling payment services to handle all the merchant set-up at the PSCS. Resellers merely connect the AutoLoad device to the ECR and Internet connection, contact the payment service with a unique identifier number and run a test transaction. The devices contact the PSCS over the IP connection to automatically load the required parameters as set up by the acquirer, and start processing high-speed payment transactions. All of the required parameter information is managed at the PSCS and is the responsibility of the payment service. Dealers that still prefer to manage merchant files on their own can become an authorized user of PSCS. Chase Paymentech is the first AutoLoad version available. Datacap Systems is a developer and marketer of integrated payment verification systems.Details
Dallas-based PAYjr has launched the industry’s first prepaid card for teens, allowing them to upload pictures for the design of their card. The “PAYjr VISA Buxx Card” is issued by SD-based BankFirst. The program is available to parents and teenagers via PAYjr’s website and through PAYjr’s bank and credit union partners. PAYjr leverages technology from Serverside Graphics to enable teens to upload, enlarge, rotate, move and flip their chosen photos inside the new card template. PAYjr has also launched a card design competition, encouraging teenagers to show off their design skills in competition for a chance to win an Apple Macbook and the opportunity to earn royalties from their card designs.Details
SmartPay Jieyin has been granted National Information Security
Certification from China Information Technology Security Certification
Center (CNITSEC) after passing a systematic evaluation, test and
inspection conducted by the authority. The CNITSEC is the government
authority that oversees security management, security engineering, security
technology and IT security certification responsibilities to ensure service
quality and security management throughout China. SmartPay services are
extended to merchants of mobile top-up, e-ticketing, utility bills, mobile
lottery and digital products and has been refining its secure payment
Nerino Mayer, previously with RBS Lynk’s Internet Business Unit and VeriFone has joined FL-based Sterling as the President, Dealer Solutions. During his tenure as Director of RBS Lynk’s Internet Business Unit, Mayer led the creation and establishment of the RBS Lynk eCommerce payment platform. His responsibilities included software architecture, development, deployment, sales activities and project management for the eCommerce platform. Prior to RBS Lynk, Mayer spent seven years as a Business Development Manager at Hewlett-Packard’s VeriFone division. He performed a variety of roles there, most recently for sales of eCommerce payment platforms to U.S. payment processors and international telecom and retail markets. He also spearheaded the development and entrance of VeriFone Smart Card technologies implemented in the Atlanta Olympics. Sterling Payment Technologies is an electronic payment processing provider.Details
For fraud prevention, Opodo travel has implemented Retail Decisions
(ReD) solutions for its UK, German, French, and Italian websites. ReD
solutions will provide real-time service with lower operating costs for the
combination of neural technology and custom velocity. This allows for risk
assessment and the prevention of fraudulent transactions to maximize
legitimate transactions. Opodo online travel service provides consumers
with access to flights from over 500 airlines, over 65,000 hotel properties
and over 7,000 car hire locations worldwide, as well as travel insurance.
With this agreement, Opodo joins ReD’s client list of travel sites
Travelocity, Hotwire, Thomas Cook, Harvey World Travel and Travelex.
Amadeus, the travel technology company based in Madrid, Spain, controls
75.4% of the online travel company.
2Checkout.com has partnered with Payoneer to provide its suppliers with the option of receiving their usual weekly payments via a prepaid MasterCard card, instead of a paper check or wire transfer. Operated by Payoneer, 2Checkout.com branded cards are good at any ATM, store or online site that accepts MasterCard worldwide and is particularly appealing to suppliers outside the US, who often face limited, costly options with international payments. Paper checks often require a 30-day hold time, and sometimes are lost or stolen in the mail. Internet payment methods are popular in the US but are not available as cash worldwide. In contrast, the Payoneer-powered 2Checkout.com prepaid card lets suppliers withdraw cash in local currency at ATMs around the world, at more favorable exchange rates than banks.Details
MoneyExpert.com research has demonstrated that credit card firms are
capitalizing off the more than 4.1 million missed credit card payments over
the past 6 months. This is the equivalent of 694,506 missed payments per
month, 9% of the total credit card bill statements in the UK. Subsequently,
over this period of time, the same consumers missing these payments have
paid up to GBP 50 million in penalties and fees. Additional research shows
that 13% of those between the age of 25 and 34 have missed payments in
the past six months, the most likely demographic, and the highest total
population to miss payments is in the Midlands and Wales at 11%. This is
in opposition to the Scots with 5% of the population missing payments.
Prepaid specialist, NetSpend has hired Adam Chibib to its senior management team as CFO and promoted Steve Reesing to SVP/Corporate Development and Finance. Chibib joins NetSpend from GrowLabs. He previously served as CFO for several technology companies, including TippingPoint Technologies, Waveset Technologies and BroadJump. Reesing will move from the CFO role which he has had for 5 years. The NetSpend “Prepaid Card Network” includes leading consumer brands and companies serving the un-banked and under-banked markets, and its strategic relationships include card issuers, EFT networks and payment card associations.Details
Xiring has posted a turnover of 8.1 million euro for the first half of
2007, a 38% year-on-year increase, causing a revision to the company’s
annual growth forecast, now projected at 70%. During the same period
in 2006, revenue was at one-fifth of this figure at 2.9 million euros,
mostly generated in the UK and Switzerland. In the healthcare sector,
Xiring reports H1 revenues at 3.9 million euro, up 9% year-on-year.
Also projected for 2007 is the equipment of over 10 million consumers
in Switzerland, UK, Belgium, Netherlands and Sweden. For 2006, the
company posted 12.8 million in revenue. This recent growth is a
reflection of the growing need for security software embedded in
smart card readers for authentication and digital signature in the
banking and healthcare markets.