EMV Infrastructure Enhanced with Customer-Centric Features Pays Off

Welcome Real-time released a white paper which shows how an EMV infrastructure enhanced with customer-centric features and services can not only reduce fraud, it can also increase revenues and
market share. The “Profiting from Enhanced EMV” report says enhancing EMV can also reduce cardholder acquisition costs, boost market share of profitable customers, reduce the cost of operating a rewards program, and unlock the value hiding in their EMV investment. Welcome says nne bank was able to acquire 1 million new cardholders in 8 months, almost twice as many as anticipated, without substantially increasing their advertising and marketing budgets. The white paper is based on Welcome’s unique experience with banks migrating to EMV.

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Diners Club Expands Acceptance via MasterCard

Citigroup and MasterCard International this morning confirmed they are in talks to expand acceptance of “Diners Club” cards to MasterCard’s worldwide network. The deal is basically done, except for project timing, logistics, and other details of the implementation. The alliance would allow “Diners Club” cards that are issued in the USA and Canada to be reissued with the MasterCard brand on the front of the card in order to function as MasterCard cards worldwide. “Diners Club” cards issued by Diners Club International franchises (outside the USA and Canada) will include the MasterCard brand on the back of the card, allowing these cards to be accepted at MasterCard merchants in the U.S. and Canada and processed as MasterCard transactions. When these cards are used outside of the United States or Canada, they will continue to be accepted and processed by Diners Club as they are today. Diners Club says there are no changes to its products or programs planned at this time. In the USA and Canada, Citigroup offers the “Diners Club” charge card, the “Carte Blanche” charge card, and the “Montage” credit card via Diners Club. Worldwide, Diners Club is issued in more than 200 countries and 70 local currencies.

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Central Bank Deploys LogicaCMG’s RTGS

Banco Central de Chile has implemented LogicaCMG’s “Real-Time Gross Settlement System.” The system provides Chile with a modern payment infrastructure, which confers stability to and confidence in the national banking system by eliminating systemic risk and increasing operational efficiency, crucial for attracting inward investment. The “RTGS” infrastructure also enables Chile’s commercial banks to offer a wider range of banking services to their customers, which, in turn, provide them with the ability to optimize their funds and thus contribute to economic growth. The Chilean “RTGS” system officially went live on April 2nd and successfully processed payments worth over US$1 billion on its first day of operation. LogicaCMG’s RTGS systems around the world process more than 50 million payments annually with a combined value of over US$20 trillion.

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Sharp Microelectronics Introduces a Facial PIN

Sharp Microelectronics has taken smart cards and biometric technology to a new level with the introduction of a facial PIN. Combining OmniPerception face recognition technology on Sharp’s smart cards, produces the ability to verify an image of a person’s face against a facial PIN which is about 2,500 digits long from its analysis of the most distinctive features of a person’s face that is then carried on the smart card. This eliminates the need to search a central database and makes the system less intimidating to privacy-conscious users. The facial PIN number is then embedded in a smart card and used to verify that the card belongs to the person presenting it. A user would place his or her card in or near a reader and face a camera, which would take a photo and feed it to the card. The card would then compare the PIN it carried to information it derived from the new photo and either accept or reject the person as the rightful owner of the card. Using algorithms that create digital code from their analysis of faces is less computation allowing all the processing to happen on the card, instead of in an external computer, which results in nearly instantaneous identify verification. The OmniPerception face recognition technology is a patent pending technology that incorporates facial biometrics with digital images and which runs at the fastest two seconds or under on only the smallest platforms utilizing 6Kb of code.

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S&H Greenpoints Joins Points International’s Points Exchange

Points International announced that S&H greenpoints has joined “The Points Exchange” program. The S&H greenpoints rewards program is the digital reinvention of The Sperry & Hutchinson Company’s Green Stamps, which originated in 1896. The greenpoints program enables consumers to earn points on the things they buy every day at participating grocery stores, with service partners via the greenpoints.com shopping portal or through the S&H credit card. Under the agreement, Points.com members can exchange miles or points from airlines, hotels, and other retailers into greenpoints, gaining access to the company’s extensive rewards catalog that includes home goods, jewelry, electronics, and much more. S&H greenpoints can also be redeemed at participating grocery stores. In addition, members with accumulated greenpoints can trade their value on Points.com, which offers more than 3,600 exchange options with leading loyalty programs such as eBay Anything Points, American Airlines AAdvantage program, US Airways Dividend Miles, and Priority Club Rewards.

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USTT’s VendingMisers Takes-Off On-Campus

PA-based USA Technologies reports that more than 180 colleges and universities in 32 States, and more than 1,330 school districts in 31 States have installed it “VendingMisers” on campus vending machines. USA Technologies reported that EnergyMiser products had also been installed in various commercial machines in nearly 60 State and Federal buildings throughout the US. Military installations in the US and overseas were also equipping their vending machines base-wide with VendingMisers. USA Technologies is a leader in the networking of distributed assets, wireless non-cash and m-commerce transactions, associated financial/network services and interactive media technology and energy management.

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U.S. Bank Launches the Gymboree VISA Card

U.S. Bank and Gymboree have teamed to launch the first co-branded credit card offered by a children’s apparel retailer. The “Gymboree VISA Platinum Card,” enables customers to receive a five percent discount on merchandise purchased at domestic Gymboree retail locations and online. The new card will also provide cardholders with exclusive access to Gymboree events throughout the year, such as double discount days, sneak previews of new lines, and special promotions. In a unique twist on photo credit cards, cardholders will have the option to add a photograph of their child. In addition to the five percent discount, cardholders will also receive a $10 enrollment bonus for use at a Gymboree retail store or online. In addition, one percent of all card purchases made outside of a Gymboree store will be paid back annually in the form of a Gymboree gift card each November.

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UMB Bank Renews EFT/ATM Contract with eFunds

eFunds has renewed its agreement with long-time partner UMB Bank to provide EFT processing, network access, and ATM monitoring and support for the bank’s 153 locations and 500 ATMs throughout the Midwest. In addition, the new agreement will also introduce an authorization solution to help UMB Bank manage PIN validation and change. While terms of the agreement were not disclosed, the three-year renewal was signed in January and implementation of add-on services will begin this month. UMB Financial Corporation is a multi-bank holding company headquartered in Kansas City, Missouri, offering complete banking and related financial services to both individual and business customers. eFunds Corporation is an industry leader with nearly 30 years of experience and expertise in electronic payments.

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KeyCorp Lands King for Retail Banking Operations

OH-based KeyCorp announced the appointment of Timothy King, formerly chairman, president and CEO of Wells Fargo Insurance, as president of its Retail Banking operations. King, whose financial services career spans 30 years, leaves his role as chairman, president and CEO of Wells Fargo Insurance, Inc., a Minneapolis- based subsidiary of Wells Fargo & Co. In his new position, he will oversee a $34.7 billion-deposit retail banking business with a 12-state branch network that includes more than 900 KeyCenters, 2,200 ATMs and one of the nation’s most highly regarded internet banking sites, Key.com(R). KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $84 billion.

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VISA Makes Waves in the Contactless Payment Arena

A contactless VISA card has entered the marketplace to join MasterCard’s “PayPass” and American Express’ “ExpressPay.” VISA Asia Pacific this week introduced “VISA Wave,” the first-ever VISA contactless smart card that is fully compatible with global EMV smart card standard. The first 2,000 “VISA Wave” cards will be issued by MBF Cards in Malaysia in a trial that runs until August 31st. The pilot involves more than 150 merchant locations in Kuala Lumpur. ‘VISA Wave” is a combi chip card with both contact and contactless interfaces. Since last year, VISA has conducted extensive focus group research among consumers between the ages of 20 and 35 in Malaysia to test the appeal of contactless card products. The majority of consumers in the research find the concept of contactless payment appealing. Consumers surveyed expressed an interest in using the contactless interface of the card for quick and easy payment of low-ticket purchases. Supermarkets and fast food chains are among the top retail locations that consumers will use for contactless payments, according to VISA’s research.

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CardLogix Introduces the ATMobility Platform

CardLogix announced the “ATMobility” platform, a cost effective secure solution featuring a smart card, handheld reader and server-side software. ATMobility works in regular debit card environments, ATM machines and with a home PC. For on-line account logon, after insertion of the smart card and entry of a PIN, ATMobility generates a one-time number set instead of the password itself. CardLogix is the leading U.S. supplier of smart cards and software for the transaction of data and value. AOS Hagenuk is a leading innovator and supplier of low cost multifunctional secure terminals used in financial, health, security (access) and retail applications.

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Combined Debit + Credit Processing Solution Announced

Fiserv has introduced a combined debit and credit processing solution to enable financial institution clients to consolidate all of their card-based product offerings, including credit, debit and ATM cards, with a single-source provider. Unique advantages to Fiserv clients include relationship pricing that provides economies of scale for increased transaction volumes, an enterprise-wide viewpoint for enhanced account relationship management, and the ability to leverage key technology and infrastructure requirements including telecommunications services. Fiserv also is planning to offer elements of a combined back office support system as part of its debit and credit service suite. Fiserv designed its solution by leveraging its extensive ATM, POS and off-line debit transaction processing experience with the Fiserv “PLUS System.” The “PLUS System” unites “VisionPLUS” credit processing software with Fiserv information-processing expertise. The service gives clients the ability to leverage a total Fiserv relationship.

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