EMVCo Qualifies Clear2Pay

Clear2Pay today announces that EMVCo, the EMV standards body has qualified the Clear2Pay EMV Contactless Card and Device Type Approval Level 1 Test Suites. The update of the EMV Contactless Card Test Suite is particularly interesting since it now incorporates EMVCo enhanced scenarios for card emulation in mobile devices testing. Dedicated test scenarios are fundamental because a mobile device that emulates a contactless payment card typically has a more dynamic behavior than a “traditional” chip-based contactless payment card. The enhanced test scenarios simulate ‘real life’ mobile payment behavior (including the UICC) and allow for more extensive testing.

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Dominican Republic’s First Mobile Wallet

The first mobile wallet was launched in the Dominican Republic by the leading prepaid telco operator (Orange) and the largest bank (Banco Popular Dominicano). M-peso is a mobile money initiative created to cater financial services to the bottom of the pyramid, which represent 72% of the Dominican population (9.4 million, 2010 census). The product was launched after 6 months of preparation and roughly 8 months after the regulators published the framework for virtual prepaid cards and branchless banking. The design, development and implementation of the turn-key solution was handled by GCS International, the same company that has created and commercialized great success the acclaimed regional products tPago® and Citi® Mobile Collect.

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CARD ROA EARNINGS CONTINUE THE LONG SLOW CLIMB

In this year-end card industry trend report, R.K. Hammer cites the current card industry Pre-tax ROA, compared to prior periods. Company Founder and Chairman Bob Hammer notes, “It has been a difficult past five years since 2008, when average ROA was calculated at 4.25% pre-tax. Since then changes have occurred, from the dramatic drop to 1.50% ROA in 2009 (the lowest card ROA return in over three decades), then up to 2.10% ROA in 2010, to 3.00% in 2011, 3.30% for 2012, and now 3.50% for 2013.”

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Ingo Money Names Former Visa, Amex Exec

Ingo Money announced the addition of Lisa McFarland as executive vice president and chief marketing officer. In this role, she will lead product strategy and marketing for the company’s Ingo Money Network and Ingo Enterprise Solutions business lines. McFarland brings nearly two decades of expertise in product development, marketing and strategic sales support for B2B and B2C payment card programs. Most recently at Visa, McFarland served as head of Consumer Prepaid Products, where she conceived and executed the company’s product, channel and network development strategies for its consumer prepaid group.

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IHS Names New VP, Investor Relations

IHS announced Eric J. Boyer joined the company as Vice President of Investor Relations. Boyer comes to IHS from Wells Fargo Securities in Baltimore, MD, where he most recently served as vice president and senior equity analyst within their Equity Research Division responsible for the information and business services sector, which includes IHS. His decade-plus experience has also involved work within the Equity Research Division of Deutsche Bank and as a management consultant with PricewaterhouseCoopers.

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BPC’s SmartATM Solution

BPC Banking Technologies today announced the launch of a new, innovative solution designed to improve the profitability of ATM networks in the U.S. marketplace. With its new cash management and forecasting solution, deployed as part of the Company’s SmartATM offering, operators can dramatically reduce ATM network costs. SmartATM provides all the capabilities needed to monitor, automate and manage ATM networks of all sizes, including ATM driving, marketing tools, EMV migration and complete support for a sophisticated set of products and services. With SmartATM, clients have achieved savings of $2,000 per ATM annually which translates into $2 million in savings each year for an ATM network of 1,000 machines.

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Collis Brand Tool Visa Confirmed

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] UL is pleased to announce that the Collis Brand Test Tool is confirmed by Visa to simulate the newest test cards included in the Contactless Device Evaluation Toolkit (CDET). The newest Visa CDET test cards (version 2.1) are now simulated by the Collis Brand Test Tool (version 4.6.2). Also the associated…

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VisuCard First for GCCPVR Customization

Based on Visa Global Chip Card Personalization Validation Requirements (GCCPVR), Galitt has updated VisuCard® GPVT, its Global Card Personalization Validation Tool, to reflect these evolutions. The new version of Galitt tool has been presented to Visa, which just confirmed that Galitt’s VisuCard® is the first to allow card and mobile personalization validation according to GCCPVR version 2.1.1.

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Interact 2013 Review

Interac Association, which operates the Interac network, Canada’s largest debit payment network, had a banner year in 2013 processing more than 4.5 billion transactions. Last year also saw continued strong growth of Interac Flash, a secure contactless enhancement of Interac Debit allowing Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash. Interac Association also reported that skimming fraud on its debit card transactions dropped to its lowest level in fourteen years. The Interac network enables Canadians to access their money through Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada.

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FreedomPay Announces Senior VP, Strategic Partnerships

FreedomPay announced the addition of payments industry veteran Brian Voigt to its executive team as Senior Vice President of Strategic Partnerships. Bringing nearly 25 years of payments industry experience, Voigt has proven success in building relationships and product innovation that bring key partners and customers to the table. He will be responsible for engaging, recruiting and establishing product-complementary and revenue-generating relationships with global partners engaged in the commerce ecosystem. Voigt joins FreedomPay after serving 18 years in strategic executive roles at Bank of America Merchant Services (BAMS), with a focus on defining mobile Point of Sale (“POS”) and mobile commerce strategies. He has also held executive positions with First Data and Chase Paymentech.

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Genesis Financial Deploys ACI Worldwide Bill Payment

ACI Worldwide announced Genesis Financial Solutions implemented its Bill Payment Solution electronic bill payment system for customer loan payments. Genesis Financial Solutions, a leading U.S. consumer finance company, was using multiple legacy systems across different lines of business and funding sources. As its business grew, the complexity of managing multiple systems increased. The company needed a more efficient and integrated way to manage its bill payment processing across multiple payment channels. Genesis Financial Solutions selected ACI’s Bill Payment Engine to power its mobile, web, IVR (interactive voice response), call center and eLockbox (consolidated remittances) payment options.

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