Tuesday, October 26, 2010

Acculynk Announces Eric M. Hoffman as Executive Vice President of National Merchant Sales

Acculynk Announces Executive Vice President of National Merchant Sales

Atlanta, GA, October 20, 2010 –ePayment News Blog-  Acculynk today announced that Eric M. Hoffman, former Senior Vice President at Bank of America Merchant Services, has joined the company as Executive Vice President of National Merchant Sales.

Acculynk is the first provider of a software-only service for Internet PIN debit, PaySecure®, which is implemented directly into the merchant checkout page and gives online shoppers the option of using their bank-issued PIN to authenticate their debit card transaction.

Acculynk distributes PaySecure to Internet merchants through partnerships with leading payment processors, ISOs and pay page providers. As Executive Vice President of National Merchant Sales, Mr. Hoffman will manage Acculynk‟s primary distribution channels and develop new business in the form of reseller partnerships and acquisition of top-tier eCommerce merchants.

“PaySecure‟s lower fees, lower fraud and incremental volume has created a high demand with U.S. merchants. Leading acquirers who are working to retain current clients and gain new business are seeing PaySecure as an ideal „product‟ hook,” said Mr. Hoffman. “I am excited to be a part of what has quickly become the standard for Internet PIN debit.”

As Senior Vice President at Bank of America Merchant Services, Mr. Hoffman was responsible for leading the company‟s eCommerce sales organization and developing corporate strategy within the recenlty formed joint venture between First Data & Bank of America. Previous to the joint venture Mr. Hoffman held the role of Senior Vice President, Strategic Accounts at First Data where he managed many of the company‟ largest issuer relationships. Prior to First Data, Mr. Hoffman held senior leadership positions at WildCard Systems, Inc., and Kessler Financial Services.

“Eric comes to Acculynk with substantial experience managing channels and selling to the most premier eCommerce merchants,” said Ashish Bahl, CEO of Acculynk. “His knowledge, skills and personality are an exact fit with what we were looking for in this newly created role, and we are pleased he has chosen to join our progressive team.”

About Acculynk

Acculynk secures online transactions with a suite of software-only services backed by a patented authentication and encryption framework provide greater security for issuers, EFT networks, merchants and payment processors. Acculynk has introduced the first product for Internet PIN debit payments, PaySecure®, which utilizes a graphical PIN-pad for the secure entry of a consumer‟s PIN. PaySecure is currently enabled on over 1,000 merchant websites. Acculynk has partnerships with 9 EFT networks to process PaySecure transactions and with six leading payment processors to distribute the product. Visit http://www.acculynk.com.


Danielle Duclos, Acculynk

(678) 894-7013, press@acculynk.com
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VeriFone Extends Mobile Payments Acceptance with PayPal

Traditional Card Payments to Integrate with PayPal Mobile Payments

PayPal Mobile App to Work with VeriFone’s PAYware Mobile for iPhone
VeriFone’s App to Support Bump
SAN FRANCISCO--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY) today announced that it will expand PayPal payment acceptance in the mobile environment and further integrate the worlds of online and traditional card-based payments.
http://www.verifone.com“VeriFone is a proven leader in payments point of sale and we're excited to have them in the PayPal ecosystem”
During PayPal X Innovate 2010, the companies showcased the planned integration of PayPal payment with VeriFone’s PAYware Mobile card encryption sleeve for iPhone and announced:
  • PayPal’s merchant acceptance application will be enhanced to support traditional card-based payments using VeriFone’s PAYware Mobile card encryption
  • The PAYware Mobile App will be enhanced to support PayPal Bump technology that enables iPhone users to bump their phones together to transfer money between them
  • VeriFone will, upon integration, promote PayPal and Bump acceptance to its vast reseller channel
  • PayPal will market VeriFone’s PAYware Mobile to its user base
  • The planned integration by VeriFone will enhance its PAYware Connect payment gateway service to provide merchants with integrated transaction reports for PayPal and traditional card payments
“Rapid adoption of mobile payments makes it possible to further align PayPal payments with traditional card-based transactions at the physical point of sale,” said Jeff Dumbrell, VeriFone executive vice president.
“VeriFone is a proven leader in payments point of sale and we're excited to have them in the PayPal ecosystem,” said Osama Bedier, PayPal’s vice president of platform, mobile and new ventures. “Online and offline are quickly converging and, with this new business relationship, both merchants and consumers will benefit, upon integration, from the ability to use the mobile wallet anytime, anywhere.”
The integrated capabilities are expected to be available next year.
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.


Pete Bartolik, 508-283-4112
Permalink: http://www.businesswire.com/news/home/20101026005862/en/VeriFone-Extends-Mobile-Payments-Acceptance-PayPal

Discover Financial Services and Moneris Solutions Announce Canada Agreement

http://www.discoverfinancial.comDeal to expand Discover acceptance footprint in Canada
RIVERWOODS, Ill. & TORONTO--(BUSINESS WIRE)--Discover Financial Services and Moneris Solutions, Canada’s largest merchant acquirer, today announced the signing of an agreement to expand Discover acceptance in Canada. Beginning next year, the deal will provide Moneris Solutions merchant customers with access to the millions of cardmembers and billions in spending of the Discover and Diners Club International networks.
“We are excited to be the first payments processor to offer Discover acceptance to the merchant community in Canada”
"This relationship with Canada’s largest merchant acquirer marks a significant merchant growth opportunity for Discover in Canada,” said Gerry Wagner, Vice President of Global Acceptance at Discover. “We plan to aggressively expand our acceptance footprint in the coming years throughout Canada – a popular travel destination for our cardmembers – and provide cardmembers from all over the world with the ability to use their cards at merchants throughout the country.”
"We are excited to be the first payments processor to offer Discover acceptance to the merchant community in Canada,” said David Ades, SVP, Sales and Marketing at Moneris Solutions. “Discover provides a way for merchants to maximize their business growth opportunities through the millions of international travelers that enter Canada every year.”
About Discover
Discover Financial Services (NYSE:DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit http://www.discoverfinancial.com.
About Moneris Solutions
As one of North America’s largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually. Through its Ernex division, Moneris offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information, visit http://www.moneris.com.


Laura Gingiss, 224-405-0185
Moneris Solutions
Santo Ligotti, 416-734-1583
Permalink: http://www.businesswire.com/news/home/20101026005424/en/Discover-Financial-Services-Moneris-Solutions-Announce-Canada

Credit Services Industry Posting Surprising Profits

The Bedford Report Provides Analyst Research on MasterCard & Capital One

NEW YORK, NY--(Marketwire - October 25, 2010) -  Investors have been watching the Credit Services Industry very closely this earnings season as companies have been adjusting to new regulatory laws. Legislation has restricted fees garnered by transactions when consumers use their cards for purchases. With consumers borrowing less and new legislation poised to negatively affect the credit card industry, companies have had to develop new revenue drivers. Then earlier this month, the Justice Department threw another set of hurdles at the industry. The Bedford Report examines the outlook for companies in the Credit Services Industry and provides research reports on MasterCard, Inc. (NYSEMA) and Capital One Financial Corp. (NYSECOF). Access to the full company reports can be found at:
Earlier in the month, the Justice Department filed suit against Visa, MasterCard and American Express, accusing them of violating antitrust laws. Visa and MasterCard agreed to settle, and will let merchants offer discounts to consumers who use cheaper types of credit or debit cards. Unbeknownst to many card holders, the fees that merchants must pay to processing networks can vary depending on the type of card being used. The Department of Justice claims that the credit card processors' practice of preventing merchants from giving discounts to customers who use smaller fee cards is an anti-competitive manoeuvre.
The Bedford Report releases regular market updates on the Credit Services Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Not mentioned in the Justice Department's suit was Capital One. Last week, COF announced third quarter earnings of $803 million, or $1.76 a share, compared with net income of $394 million, or 87 cents a share, in the year ago period. The company claimed that a decline in U.S. credit-card delinquencies helped boost profits.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer
The Bedford Report
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First Data and CardinalCommerce Launch New System for Alternative Payments

Source: CardinalCommerce Corporation
MENTOR, Ohio, Oct. 25, 2010 (GLOBE NEWSWIRE) -- CardinalCommerce and First Data Corporation, a global leader in electronic commerce and payment processing, today announced a new payment system for merchants using First Data's Compass payment processing solution. This new system will allow online merchants to use their existing credit and debit systems to seamlessly accept and process alternative payments transactions through services like PayPal Express Checkout.

This new system will significantly reduce the work required by merchants to accept PayPal and other alternative payment types in eCommerce environments. Previously merchants were required to maintain separate payment systems outside of their core credit and debit processing. By integrating with First Data's Compass solution and CardinalCommerce, merchants that accept PayPal now have the ability to process payments through their existing credit card infrastructure. In addition to streamlined processing, merchants are also able to easily combine order management, customer service and reporting of each alternative payment type within their core business.

"Success in the eCommerce marketplace requires the ability to seamlessly accept a broad range of payment types, including alternative payments like PayPal," said Souheil Badran, SVP and division manager, First Data. "First Data's integrated solution expedites implementation, adheres to compliance requirements and minimizes shopping cart abandonment."

First Data's Compass payment solution provides card-not-present merchants with a comprehensive suite of payment methods to accommodate the diverse needs of eCommerce merchants and their customers. The Compass solution delivers advanced capabilities designed to expand business globally, protect against fraud, lower cost, and simplify management and reporting.

"We are pleased to bring PayPal to online merchants utilizing CardinalCommerce and First Data's Compass solution," said Eddie Davis, senior director of strategic alliances at PayPal. "First Data enables payment processing for its millions of customers, and Cardinal Commerce is a PayPal-Certified Integration Partner. Together, we're providing merchants with the products and services they need to deliver a world-class transaction experience to their customers."

About First Data
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the aggregate data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com.

About CardinalCommerce
CardinalCommerce Corporation is the global leader in enabling authenticated payments, secure transactions and alternative payment brands for both eCommerce and mobile commerce.

The Cardinal Centinel® software platform enables payment brands, such as Verified by Visa, MasterCard® SecureCode™, Amazon Payments™, Bill2Phone™, Bill Me Later®, ClickandBuy®, Cred-Ex®, Ebates™, eBillme™, eLayaway™, Google™ Checkout, Green Dot® MoneyPak®, Mazooma™, Moneybookers, MyECheck, NACHA® Secure Vault Payments (SVP), NYCE® SafeDebit™, OneTouch Online Purchasing™, Paymate, PayPal™, paysafecard, RevolutionCard™, Rialto Pay SM, SafetyPay™, TeleCheck®, and Ukash™ , to a network of thousands of merchants and merchant service providers.
The Cardinal MAX™ mobile platform provides retailers, financial institutions and processors the ability to extend traditional commerce, marketing and banking into the mobile channel. Cardinal MAX™ Customers are able to safely and securely conduct business in the mobile space via SMS, mobile internet and mobile applications.

CardinalCommerce is headquartered in Cleveland, Ohio. With facilities in the United States, Europe and Africa, Cardinal services a worldwide Customer base. For more information, visitwww.cardinalcommerce.com.
The CardinalCommerce logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=697

CONTACT:  CardinalCommerce Corporation
          Media Contact:
          Tim Sherwin, Co-Founder, EVP, CMO

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