EBA Clearing Platform Sepa-Ready

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the deadline for migration to SEPA only 20 months away, EBA CLEARING announced key deliverables of its project geared at readying the STEP2 platform for processing large domestic volumes in an integrated euro payments environment. The Company introduced a batch processing functionality in the STEP2 SEPA Credit Transfer (SCT) Service…

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BEFORE YOU PITCH A CARD ISSUER WITH YOUR COBRAND CARD PROPOSAL, DO THIS

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In over 30 years in the card business, R.K. Hammer has seen and done hundreds of deals presented by retailers and other marketers wanting to get a cobranded card issued. “In our experience,” noted company founder and CEO Bob Hammer, “It is the rare proposal that comes in with a well…

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MasterCard Names Chief Payment System Integrity Officer

MasterCard Worldwide named Nancy O’Malley, Chief Payment System Integrity Officer, effective May 29, 2012. Responsible for the management of global strategies that address enterprise-wide information security, customer security and risk services, fraud investigations, and fraud management solutions, O’Malley also will join the MasterCard Operating Committee. Bringing with her more than 25 years’ experience in senior management positions at various U.S.-based financial institutions, O’Malley has extensive experience in fraud prevention and asset recovery, financial risk and loss mitigation, product development, and leadership development. She was most recently VP, Asset Recovery for Security Service Federal Credit Union.

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POS Portal Deploys Ingenico NFC- and EMV Terminals

Ingenico and POS Portal POS terminal distributor partnered to push the Ingenico “Telium” series POS products for sale and distribution to its independent sales organizations (ISOs) in the United States. The “Telium” series POS devices, designed on “Telium 2” technology architecture, are EMV compliant offering the U.S. marketplace what it needs under the fledgling EMV requirements. POS Portal will distribute Ingenico’s countertop terminals, NFC-ready mobile devices, and customer-facing terminals that are Class A certified and ready to securely accommodate all forms of payment including contactless, EMV, NFC mobile, and traditional magnetic stripe cards.

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Postea Partners NCR on Advancing POS

Postea partnered NCR Corporation to jointly market its POS system for international post offices and their alternate access channels. The “Reflex Retail” postal retail sales engages the customer and leverages social networks to deliver higher revenue per customer session and ease the burden of complying with government mandated documentation. It lets customers link the post office to the internet, extending a single transaction into an ongoing electronic relationship.

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uShip Deploys Payoneer Flexible Payment Platform

Payoneer global payments announced U.S. transporters on uShip.com can now access their payments within minutes. Providing payment immediately upon release of funds, Payoneer gives transporters access to its online transport marketplace and the capital they need wherever and whenever necessary. uShip transportation marketplace for vehicle, freight and household goods shipping markets launched uShip “Payments” payment system that helps carriers get paid quickly online. The Payoneer solution helps further expedite the payment process for transporters.

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Smart Card Alliance Establishes Mobile, NFC Council

The Smart Card Alliance announced the newly-formed Mobile and NFC Council to raise awareness and accelerate the adoption of the numerous applications possible with NFC technology. The Council having attracted over 60 organizations and more than 120 individuals to date will take a broad industry view and bring together stakeholders in the different vertical markets that can benefit from mobile and NFC applications including payments, loyalty, marketing, promotion/coupons/offers, peer-to-peer, identity, access control and transit applications. It will provide educational resources for organizations offering or implementing NFC applications and services to foster deployment of NFC technology in the marketplace; a business-focused organization where all industry stakeholders can collaborate, network, share implementation experiences, and discuss new mobile and NFC applications; and collaborate with other organizations to discuss, define and promote standards for NFC application implementations.

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iPayment Processes $5.5B Total in 1Q/12, Revenue Down 2.5% Y/Y

iPayment announced its 1Q/12 processing volume total of $5.5 billion in transactions, a 2.8% increase from $5.4 billion for the same period in 2011, while total revenues were down 2.5% to $165.4 million from the year ago figure of $169.6 million. Net income was approximately $0.5 million for iPayment and its consolidated subsidiaries, and net loss was $5.9 million for Holdings and its consolidated subsidiaries for the first quarter of 2012, in each case, compared to net income of $7.6 million for the first quarter of 2011. Results for the first quarter of 2012 included higher amortization expense and higher interest expense as a result of the refinancing and equity redemption that were completed in May 2011. The Company had approximately 130,000 active merchants at the end of the first quarter of 2012.

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Computer Services Implements ReD Card Sentry Risk Mitigation

ReD fraud prevention and payment services and Computer Services announced their partnership. With this, Card Sentry risk mitigation system deployed ReD “PRISM” fraud-detection capabilities for overall fraud-monitoring services and will also enable CSI to integrate and manage customer relationships more effectively. The ReD “PRISM” is incorporated into CSI’s Card Sentry and uses dynamic rule strategies to determine the likelihood of a transaction being fraudulent and reduces the number of fraudulent transactions that occur before the fraud is identified and cards are blocked, reducing overall fraud losses. The system expands Card Sentry’s case management and workflow capabilities, enhancing CSI’s data analytics and helping to determine any potential points of compromise. ReD “PRISM” provides the flexibility for CSI to enhance and manage the information that is available to their custom rule strategies.

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Evolution1 Preferred Consumer Directed Health Partner with Plexis

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Evolution1, the nation’s largest electronic payment, on-premise, and cloud computing healthcare solution that administers reimbursement accounts – including HSAs, HRAs, FSAs, VEBAs, PRAs, and Wellness and Transit Plans – has been chosen by Plexis Healthcare Systems, Inc. as its preferred consumer-directed health Partner. Plexis, a leading payer solution and claims processing…

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Moneyonthego.net Expands With eCommerce Boom

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ABC News has announced that Wal-Mart is launching a new program to allow Internet shoppers to make cash purchases. The first of its kind, this program will open the “under-banked” market, which is made up of low-income families that do not use bank services or credit cards. Moneyonthego.net, an online shopping…

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