Thursday, July 8, 2010

HomeATM's "ANYWHERE Commerce" Model Featured on

HomeATM Shifts Focus To Mobile Merchants

PaymentsSource | Thursday, July 8, 2010 by Will Hernandez

When Mitchell Corbin became the new president and CEO of HomeATM ePayment Solutions in March, it signaled a shift in the company’s business model.

HomeATM has no plans to abandon enabling PIN-debit transactions at home with its PCI-certified personal card-swipe device and PIN pad. But the company also now plans to promote an “anywhere commerce” model in which merchants such as flea market vendors, repair companies, etc. may use HomeATM’s device with a mobile phone, laptop and even Apple Inc.’s iPad to conduct transactions.

HomeATM is in negotiations with a major merchant and a personal-computer tablet manufacturer to leverage its card-swipe device and PIN pad in different ways, Corbin tells PaymentsSource. The merchant would use the device in a “line-busting” environment, he says.  Line-busting refers to...<< read more>>  

Paul Turgeon, president of Payments & Processing Consultants Inc., believes HomeATM’s device is well suited for line-busting situations and for mobile merchants in general. “There are lots of those kind of merchants who are spending a lot of money equipping themselves to take credit cards,” he adds.

See Details on HomeATM's PCI Certified PIN Entry Device below:  Questions? Email me

HomeATM's Devices work with the following:


Signature Debit Fraud in 2009 was 7.5 Times Higher than PIN Debit Fraud Losses

Fiserv has an interesting PDF file available if you want to take a look-see.

It's 26 pages and is entitled, "Risk Managment: Your Performance in a Soaring Fraud Climate.  Below you'll find a screen capture of Page Four.   According to the report, signature debit is responsible for 7.5 times more fraud than is PIN Debit, up over 2008.

Maybe now that overdraft charges are history (unless for some reason you elect to opt-in) and Big Brother has stepped into the Interchange fray, you'll see banks do what they probably should have done since day one.   Push PIN Debit over Signature Debit.   Signature debit isn't going to be as profitable and at 7.5 times more risk, it makes more sense to make PIN Debit their "signature" product.

Click the link below the graphic to take a peek at the entire 26 page document.

Risk Management (JB Rambaud) -Fiserv...for signature debit and 1.0 for PIN debit. • In 2008, signature debit fraud losses totaled 5.2 and PIN debit at .8 basis points ...

Here's another page which clearly, (80%) demonstrates  why we should stop "typing" our card numbers into boxes at web checkout sites.

Enhanced by Zemanta

Western Union Now in Japan

Western Union Authorized to Offer Global Money-Transfer Services under Japan’s New Law

http://westernunion.comCompany Registered by FSA under Japan’s New Money-Transfer Laws
TOKYO--(BUSINESS WIRE)--Western Union (NYSE: WU), a leader in global payment services, has been registered to operate international money-transfer services under Japan’s new Act Concerning Settlement of Funds, which allows non-banks to conduct money-transfer services.
“We are delighted to be registered as a money-transfer provider under Japan’s robust and progressive new law”
Western Union is the first money-transfer provider authorized to offer cash-to-cash transfers across 200 countries and territories under the new law regulated by Japan’s Financial Services Agency (FSA). It allows Western Union to work with companies across multiple classes of trade in addition to banks to offer Western Union® Money TransferSM services.
“We are delighted to be registered as a money-transfer provider under Japan’s robust and progressive new law,” said Drina Yue, Managing Director and Senior Vice President, Asia Pacific, The Western Union Company.
“As a global leader in money-transfer services, we believe Japan is moving in the right direction in facilitating convenient and regulated money-transfer services for Japanese citizens as well as international workers,” Yue said. “Bringing Western Union services as close as possible to consumers, particularly international workers in Japan who have constraints on their time and their ability to travel to traditional financial centers, is a significant advantage.”
The growing need for international workers in Japan is expected to lead to an increased demand for money-transfer services. According to the Immigration Bureau of Japan, the number of foreign residents in Japan was 2.2 million as of Dec. 31, 2008.
Upon regulatory approval, Travelex is expected to become Western Union’s first Agent under the new law to offer the Western Union Money Transfer service at Travelex stores in Japan.
Western Union also has agreed with Seven Bank to launch international money-transfer services in Japan to its customers via online banking and its nationwide 14,000-strong ATM network, providing a round-the-clock international money-transfer service for consumers to send money from Japan to the world.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Custom House branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of more than 420,000 agent locations in 200 countries and territories. In 2009, The Western Union Company completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal between consumers, and 415 million business payments. For more information, visit


Western Union


Kristin Kelly, +1 720-332-4751



Mike Salop, +1 720-332-8276

Annual Fees on Credit Cards a Bad Idea say Auriemma Consulting Group

While Consumers Are Accepting of Some Credit Card Fees, Annual Fees Provoke Ire, says Auriemma Consulting Group

WESTBURY, N.Y.--(BUSINESS WIRE)--Credit card issuers who are considering whether to impose annual fees will encounter stiff consumer resistance, according to Cardbeat®, a syndicated market research report published by Auriemma Consulting Group (ACG). New regulations, coming at a time of high losses, are driving many issuers to consider ways to increase revenues. In a recent Cardbeat survey, nearly half of respondents said they had paid some type of fee on their credit card within the past 12 months, although only 25% paid an annual fee.
“Most consumers have come to expect that checking accounts and credit cards will be free.”
“While people predictably dislike fees in general, they are particularly resistant to upfront fees for services which they feel entitled to receive: account initiation, inactivity, and annual fees,” says Nancy Stahl, editor of Cardbeat. Respondents reserved their strongest condemnation for annual fees, she added. “Most consumers have come to expect that checking accounts and credit cards will be free.”
While clearly undesirable, activity and penalty fees -- for cash advances, late payment, and going over limit -- provoke less ire among consumers and are grudgingly accepted as part of doing business. The fees that cause the least ill-will, those for foreign exchange and for additional services like credit monitoring, don’t touch on the core functionality of the card for most consumers, Stahl said.
When it comes to applying for a new credit card, Cardbeat research indicated that consumers look first at annual fees, with APR considered second, and rewards programs being a distant third, Stahl noted. “When we presented respondents with six hypothetical credit card offers, most showed a strong dislike for cards with high annual fees, even though these cards had comparatively generous rewards programs. While there are certainly segments of reward-chasers, the majority of consumers are willing to sacrifice rewards to have no annual fee or a lower APR.”
For consumers, avoiding annual fees may become more difficult. Though only about 20% of U.S. credit cards currently have an annual fee, this percentage will likely rise as many current direct-mail card offers are for premium cards loaded with rewards programs...and fees, Stahl noted. “We expect that more and different kinds of rewards programs will be offered to consumers to demonstrate the added value that warrants an annual fee. Marginally-profitable customers of today may be faced with the choice of paying an annual fee or deciding to move away from credit card usage and toward debit card usage.”
The information in this release includes data from a survey of 428 cardholders conducted in May 2010.
About Auriemma Consulting Group
Auriemma Consulting Group (ACG) is a full-service management consulting firm serving the payments and lending industries since 1984. Cardbeat is ACG’s syndicated market research study of credit card holders, conducted monthly in the U.S. and quarterly in the U.K. With offices in New York and London, ACG consultants are experienced practitioners, drawn from the credit card, private label, auto finance, mortgage, and retail banking industries that we serve. For more information, contact Nancy Stahl at 516-333-4800 or


Auriemma Consulting Group

Nancy Stahl, 516-333-4800

TransCard Expands Automated Bill Payment Application into Robust Enterprise Payment Offering

http://www.transcard.comCHATTANOOGA, Tenn.--(BUSINESS WIRE)--TransCard ( - a leading provider of electronic payment and prepaid MasterCard®, Discover®, STAR and PULSE debit card solutions - announces a new initiative to expand its market leading bill payment platform into a complete suite of enterprise payment settlement and reconciliation services.
“We are exited to have Greg join our team. His payments expertise will be key to helping us understand how our technology can be scaled into a robust enterprise payment system”
The new product line, offered specifically to enterprise clients, takes advantage of TransCard’s leading automated payment toolkit, including attaching pay anyone bill-pay, card, check, EBT, and person-to-person payments with a robust set of tools for managing, monitoring, and recording payments. Unlike traditional bank products, prepaid cards offer more financial control over the payment amounts, including the ability to segment balances by division, department, project, or even person. With the use of TransCard’s leading financial manager tool, organizations can itemize and profile expenses, matching to categories and auto budgeting payments. The toolset is also integrated into TransCard’s state-of-the-art alert-system which can broadcast transaction alerts to multiple destinations, including mobile, email, API, and RSS.
“When we rolled out our bill pay function, we intended for the application to focus on individual payments. We never imagined enterprises would have a broader vision on how they could use our automated payment features,” says Craig Fuller, TransCard’s Founder. “Companies see the TransCard payment application as having broader applications than payroll or settlement services.”
TransCard recently added Greg Haney, former SVP of Fiserv’s Biller solutions as COO. Greg was an integral part of the team that built BillMatrix into an industry leader in the bill payment space and was later acquired by Fiserv. At Fiserv, Greg was responsible for operations including the Treasury Services and Banking Operations groups of Fiserv’s Biller Solutions. “We are exited to have Greg join our team. His payments expertise will be key to helping us understand how our technology can be scaled into a robust enterprise payment system,” indicated Fuller.
About TransCard
TransCard ( provides custom, turnkey prepaid programs for corporate, non-profit and government organizations. TransCard is one of a few privately held core processors in the world, providing prepaid debit card solutions branded with MasterCard®, Discover®, STAR and PULSE associations. The company is apart of the US Xpress family companies, a $2 billion dollar logistics and supply-chain management enterprise.
TransCard is the technology leader in enterprise prepaid, offering a complete suite of turnkey prepaid solutions. TransCard continues to set itself apart through constant product innovation, including pay card programs, settlement card services, clinical research payments and mobile payment processing. TransCard’s clients include large Fortune 500 companies, government agencies and major medical research institutions. All funds are held in FDIC insured accounts and customers can take comfort in knowing their funds are safe, backed by a billion-dollar family enterprise.



Craig Fuller, Founder, 423-553-5203

Visa Contactless Cards in UK to Reach 12 million by Year end

Finextra 7-7-2010

Visa contactless cards in issue in UK to reach 12 million by year end

The number of Visa contactless cards in use in the UK is expected to reach twelve million by the end of 2010.
Visa payWave cards in circulation in the UK passed the eight million mark in June and this will continue to climb in 2010 as more banks introduce the functionality, says the card scheme.

Enhanced by Zemanta

Show Me the Money: cMoney Secures $100 Million for it's "Innovative Mobile Platform"

C$ cMoney Secures $100 Million Financing from AGS Capital Group, LLC

Funding Strengthens Company’s Position as a Leader in Financial Mobile Technologies
HOUSTON--(BUSINESS WIRE)--cMoney, Inc., a new mobile technology company based in Houston, announced it has received a commitment of $100 million in funding from AGS Capital Group, LLC, of New York City. The investment is expected to support the expansion of the company as well as the launch of C$ cMoney, an innovative mobile platform for the financial services industry.
“With this funding from AGS Capital Group, we are able to accelerate the launch of our innovative technology and expand our operations globally.”
“In considering numerous investment partners, we were particularly impressed with the AGS Capital Group team. They have become very knowledgeable about our business model and enthusiastic about assisting us in building our company,” said Jennifer L. Pharris, president and CEO of cMoney, Inc. “With this funding from AGS Capital Group, we are able to accelerate the launch of our innovative technology and expand our operations globally.”
Scheduled to launch early next year, C$ cMoney’s new mobile payment platform enables consumers to send money or pay for goods and services through mobile phones anywhere that cash, checks or credit cards are accepted. The application contains patented security technologies that eliminate exposure to identity and credit card theft. C$ cMoney is expected to unveil its revolutionary product via the App Store, BlackBerry World and the Android Marketplace, among others.
C$ cMoney allows an individual to establish a financial profile to enact the seamless transfer of funds between multiple accounts at various financial institutions across the U.S., and eventually the world. The company is currently in talks with select national and regional banks who are interested in offering the product directly to their customers.
“We are excited to partner with C$ cMoney by providing funding to support the growth of the company and the introduction of its new mobile application,” said Allen Silberstein, principal, CEO and CIO of AGS Capital Group, LLC. “We are very impressed with the proprietary technology that C$ cMoney is bringing to market and believe C$ cMoney could be the next Google in terms of marketing play.”
Silberstein founded AGS Capital Group in 2009 after spinning out of Visium Asset Management, a three billion dollar health care fund. Silberstein oversees research, investor relations and risk management, and is a member of the firm's Investment Committee. In addition to C$ cMoney, AGS Capital Group has provided debt and equity financing solutions for Coca-Cola, GE Capital, Johnson Controls, Morgan Stanley and numerous other growth and mature companies.
The financing with AGS Capital was arranged by Robert Gandy, an investment banker with Pythagoras Group in Houston. Full details of the agreements and conditions are disclosed in the Company's SEC Form 8-K filed July 08, 2010 with the SEC.
About cMoney, Inc.
cMoney, Inc. is a Houston-based technology company that has developed a new and innovative way to send money and pay for goods and services using a mobile phone and the text messaging system. Scheduled to launch in 2011, the pioneering technology will create a “virtual wallet” that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks or credit cards are accepted. For more information, visit
About AGS Capital Group, LLC
AGS Capital Group provides flexible debt and equity financing solutions for growth-stage and mature public companies as well as private companies looking to go public. With offices in New York, Hong Kong and India, AGS Capital Group has facilitated the growth of companies within the U.S. and those domiciled in foreign markets around the globe. AGS Capital Group invests in public companies listed on all exchanges. We perform fundamental analysis including credit risk, technical analysis of market trends and industry, evaluation of management team experience and corporate structure evaluation. AGS Capital Group invests in Fixed Income and offers the Reserve Equity Financing. Additional information may be found at

Germany Launches Legal Proceedings Against Facebook

The Age reports that Facebook is not out of the woods quite yet...

Germany launches legal action against Facebook

July 8, 2010 - The Age

A German data protection official said Wednesday he launched legal proceedings against Facebook, which he accused of illegally accessing and saving personal data of people who don't use the social networking site.  Johannes Caspar, head of the Hamburg office for data protection, said it had initiated legal steps that could result in Facebook being fined tens of thousands of euros for saving private information of individuals who don't use the site and haven't granted it access to their details.  "We consider the saving of data from third parties, in this context, to be against data privacy laws," Caspar said in a statement. Facebook has until August 11 to respond formally to the legal complaint... <<read more>>
Enhanced by Zemanta

Zong Expands Executive Team

http://www.zong.comZong Expands Executive Team across Business and Technology Divisions with New Hires Elena Krasnoperova, Stephane Kasriel, Sandy Taylor and Tim Armandpour

Zong Attracts Seasoned Payments and Mobile Veterans to Bolster its Expansion
MENLO PARK, Calif.--(BUSINESS WIRE)--Zong (, the leading mobile payment service used by online gaming and social networking websites, announced today it has appointed Elena Krasnoperova as VP, Analytics and Fraud Management, Stephane Kasriel as VP, Sales and Business Development, Sandy Taylor as VP, Finance and Tim Armandpour as VP, Engineering. These new positions have been created to support Zong’s global expansion and its expectations for exponential revenue growth.
“Elena, Stephane, Sandy and Tim have clearly demonstrated their deep understanding of payment and mobile technology, and will be critical leaders at Zong as we continue to develop our technology, business and network of partners”
Elena Krasnoperova joins Zong with over 15 years of analytics, fraud and risk management experience as VP, Analytics and Fraud Management. Recognizing the critical importance of fraud management, Zong has added Krasnoperova to lead a growing team focused on security and privacy as Zong continues to expand and develop products. After an early career at Boston Consulting Group, Krasnoperova spent 7 years at eBay and PayPal, where she built and managed the Marketplaces Strategy team, the PayPal Business Analytics team, and held a variety of leadership roles in PayPal’s Global Risk Management organization. Krasnoperova has a successful track record of enhancing e-commerce profits by implementing data-driven strategies and applying her knowledge of risk management, and brings this experience to Zong during a crucial growth period for the company.
With over 6 years of strategy, business and new product development experience at PayPal, Stephane Kasriel joins Zong as VP, Sales and Business Development. Most recently, Kasriel ran PayPal’s Consumer Products division where he launched award-winning products and dramatically accelerated the growth of existing, mature products. Prior to this, Kasriel was the Managing Director for PayPal France, where he took the business from its infancy to being a very significant contributor to PayPal’s global P&L.
Sandy Taylor, previously Director of Strategy and Business Performance Management for Premium Mobile Experiences at Microsoft, joins Zong as VP, Finance. With over 15 years of experience in the software industry Taylor’s earlier roles include Vice President of Finance and Chief Accounting Officer at Danger, Inc., developer of the Sidekick™ smartphone, Vice President of Finance and Operations at Respond Networks, a lead management company and Director of Finance and Strategic Planning at Oracle Corporation.
As VP, Engineering, Tim Armandpour brings over 12 years of software engineering and executive management experience with him to Zong and is responsible for leading global software development efforts across Zong’s applications, device platforms and infrastructure. Prior to joining Zong, Armandpour was VP, Engineering at SendMe, Inc., a recognized leader in mobile entertainment content in the U.S., and helped SendMe achieve annual revenues north of $120 million. Additionally, Armandpour spent 7 years at Yodlee, Inc., a leading personal finance and payments management solutions provider and an early pioneer of data aggregation in the financial space, as the Sr. Director of Engineering in charge of product development for their Bill Pay and Funds Transfer solutions.
“Elena, Stephane, Sandy and Tim have clearly demonstrated their deep understanding of payment and mobile technology, and will be critical leaders at Zong as we continue to develop our technology, business and network of partners,” said David Marcus, founder and CEO, Zong. “By expanding our executive team with such incredible talent we are positioned for growth and primed to continue to deliver the most valuable mobile payment solution available.”
The new hires follow Zong’s most recent $15 million funding round with Matrix Partners and the addition of Dana Stalder, General Partner of Matrix Partners, to Zong’s board of directors.
About Zong
Zong is the leading mobile payments platform for sellers of digital goods and services. Its frictionless payment experience converts shoppers into buyers at rates up to 10 times greater than traditional payment methods. Zong leverages direct connections with mobile network operators around the world to provide a secure payment solution with unrivaled connectivity and service quality. Zong is the mobile payment provider for Facebook Credits and also works with hundreds of leading destination sites, such as Gaia Online, IMVU and Playdom. Reaching over 2 billion mobile users, Zong provides localized payment capabilities in over 30 countries in 16 languages. Zong is the only mobile payments platform that combines the high conversion rates of carrier billing with the low costs and flexibility of payment card networks. Zong is based in Menlo Park with offices in Paris and Geneva, and is backed by Matrix Partners, Advent Venture Partners and Newbury Ventures. For more information, please visit

Enhanced by Zemanta

Gift Card Hub Achieves Online Industry's Most Secure Rating

Interpro Group Created Hub to Offer Business a Secure, Web-enabled Gift Card Program

DALLASJuly 8 /PRNewswire/ -- The Gift Card Hub has received the highest security compliance in the Gift Card industry from the Payment Card Industry Data Security Standards Council, known as PCI DSS Level 1.  The Gift Card Hub is an online provider of turnkey gift card programs for restaurants and retailers.  It provides the tools required for a business to launch and manage a proprietary web-enabled gift card program without internal time and expense.
Butch Johnson, president of the 23-year-old Interpro Group which owns The Gift Card Hub said, "Our team has worked diligently to secure PCI DSS, the standard provided to organizations to give consumers guidance and security to ensure their credit cardholder information is kept secure from any possible security breach."
Interpro Group, a Texas-based print management company specializing in the printing of gift cards, various types of plastic cards and other print projects, developed The Gift Card Hub five years ago after successfully creating and managing turnkey online gift card programs, customer service and card fulfillment systems for IHOP and other clients.
The Gift Card Hub streamlines the building of online gift card ordering systems for business to consumer sales with customized graphics added to an existing framework.  The Gift Card Hub at provides PCI DSS Secure online ordering and gift card fulfillment services including customer service and order tracking.  Johnson explains, "Our platform is mature and has been tested extensively using proactive controls and features.  As a result, businesses can have their own customized gift card web-based program up and running within a short time."  Johnson added, "The Gift Card Hub also offers programs for multi-unit distribution of secure gift cards and the printing and fulfillment of gift card and loyalty cards at competitive prices because of our aggregated buying power."
The Gift Card Hub at is owned by Interpro Group, a Euless, TX-based company providing gift card and printing services.  The company manages gift card programs and other related transaction card solutions and printing for several large U.S. and International-based companies.
SOURCE The Gift Card Hub

Enhanced by Zemanta

Credit Card Rate Report Weekly Credit Card Rate Report

AUSTIN, TexasJuly 7 /PRNewswire/ -- The streak is over.
The national average interest rate on new credit card offers was unchanged last week, according to the Weekly Credit Card Rate Report. It's the first time in six weeks that the rate hadn't risen.
The average is composed of about 95 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category listed below. Introductory (teaser) rates are not included in the calculation. Among the nine card categories, average annual percentage rates (APRs) increased in one, fell in two and were unchanged in six.      
Rates for card categories tracked by are listed below:

Credit Card Rate Averages

Avg. APR
Last week
6 months ago
National Average
Updated: 7-7-10

The run of increases was the longest since 2007, when rates rose for seven straight weeks. But an unchanged national average doesn't mean that issuers weren't making moves. Discover lowered the standard purchase APR for two cards -- its Escape and Miles cards. Citi raised the lower end of the range of its Platinum Select MasterCard two percentage points, and Chase changed its Priority Club Visa from a single 13.24 percent APR to a range of 13.24 percent to 17.24 percent.
The credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers' Web sites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
About is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including several of the 10 largest in the United States, based on credit card transaction volume.,, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.  
NOTE TO EDITORS: The information in this release is available for print or broadcast with attribution to

Disqus for ePayment News