Visa and Intel Announce NFC Payment Partnership

Intel, Visa Partner on NFC Payments

By Agam Shah, IDG News    Feb 27, 2012 5:21 pm

Visa and Intel have announced a partnership that should make it easier for consumers to make mobile payments via phones and tablets powered by Intel chips.

Users will be able to wave an Intel-powered smartphone equipped with Near Field Communication (NFC) technology to make a payment quickly at retail points of sale, the companies said in a statement.

Visa has certified Intel's smartphone reference design to work with Visa's PayWave mobile payment application, and the mobile payment system will be extended to licensees building smartphones with Intel chips.

Intel-based smartphones aren't on the market yet but Lenovo, Motorola, Orange and Lava, an Indian-based smartphone vendor, are expected to release models in the future. Visa's payment system will be implemented initially in smartphone reference designs that use Intel's Atom Z2460 chip.

The multiyear agreement will extend to several different types of devices, the companies said. The Atom Z2460 is also headed for tablets from companies such as Vizio.

read more at PC World

Related articles

• Intel Announces More Phone Customers, Plans For Speedier Chips (allthingsd.com)
• Intel Announces New Smartphone Partnerships With Lava, ZTE, And Visa (techcrunch.com)
• Visa certifies Intel's Smartphone Reference Device, payWave hits Medfield (engadget.com)
• Visa announces 'one stop' card provisioning service for NFC mobile phones (nfcdata.com)
• Visa Launches Mobile Payments Provisioning Service; Teams Up With Vodafone (techcrunch.com)
• Visa Offering a Non-Isis Mobile Payment Service (phonescoop.com)
• Visa, Samsung to offer contactless payments during 2012 Olympics (nfcdata.com)
• Intel announces NFC support in Ivy Bridge chips (nfcdata.com)
• Visa Certifies NFC Enabled Smartphones for Use as Visa Mobile Payment Devices (nfcdata.com)

The Future of Online Authentication via Gemalto

MasterCard Selects Dublin (not Durbin) as Base for Global Technology Office

MasterCard Selects Dublin, Ireland as Location for Global Technologies Office

As electronic payments continue to replace the use of cash, MasterCard’s Dublin office will develop innovative ways to drive this trend

DUBLIN--(BUSINESS WIRE)--MasterCard Worldwide today announces a new global office for the company’s technology operations, to be headquartered in Dublin, Ireland. The expansion, supported by IDA Ireland, will create an additional 130 highly skilled jobs during the next four years, bringing the total number of people employed in Ireland to approximately 200.

“We are pleased to make this investment in Ireland, which builds on our existing presence. The calibre of highly qualified, talented people and the Government’s commitment to science, technology and innovation, gave us confidence that this was the ideal setting for our new Global Technologies office.”

“At our core, MasterCard is a technology company that happens to be in the payments space,” saysRob Reeg, president, MasterCard Technologies. “Our focus as a company is on offering innovative, game-changing technologies that offer mass appeal for our global customers and cardholders. We’re confident that this larger office in Dublin, as well as the new technology team members that we plan to hire, will help further our technology agenda and innovation vision.”

MasterCard is currently recruiting for technology roles for the Dublin office via the company’s web site (www.mastercard.ie).

Having a presence in Ireland is not new for MasterCard – the company has had an office in the city since it acquired technology company Orbiscom in 2008. However, this expansion means an increase in both staff, as well as the areas of focus for Dublin technology team members, including:

• MasterCard Labs - Dublin is already one of the four key locations for MasterCard Labs, the company’s research and development function tasked with fast-tracking innovative products and services to bring them to market quickly. MasterCard Labs is headed up globally by Garry Lyons, the former CEO of Orbiscom and MasterCard’s Chief Innovation Officer, who is based in the Dublin office.
• Center of Excellence for Java Development. The Dublin office has been designated as MasterCard’s Center of Excellence for Java Development, one of the predominant programming languages for ecommerce, mobile and other emerging payment technologies.
• inControl. MasterCard’s inControl platform team will be based in the Dublin office. MasterCard inControl is a key product that MasterCard offers to help customers and cardholders set custom controls on usage of their credit, debit and prepaid cards, offering improved insights on how and where their cards are used.

The Dublin team will work collaboratively with other MasterCard office locations, particularly the MasterCard Technologies headquarters office in St. Louis, Missouri, USA.

“MasterCard chose Ireland as a place to expand our presence because, from our vantage point, we see consumers moving toward a world beyond cash, shopping and paying for the things that matter to them in ways that best fit their needs and lifestyles with a simple tap, click or touch in-store, online or on a mobile device,” says Reeg. “We are pleased to make this investment in Ireland, which builds on our existing presence. The calibre of highly qualified, talented people and the Government’s commitment to science, technology and innovation, gave us confidence that this was the ideal setting for our new Global Technologies office.”

Welcoming the announcement, Barry O’Leary, CEO of IDA Ireland says, ‘’MasterCard’s decision to locate a global office in Dublin, with the creation of approximately 130 new jobs, is most welcome news. The global technologies office will meet the requirements of the rapidly growing area of payments. This announcement is in keeping with IDA’s focus on targeting technological investments in the financial services sector which is a key growth area. I wish MasterCard every success with their investment and offer the continued support of IDA Ireland into the future.’’

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @mastercardnews, join the conversation on The Heart of Commerce Blog and subscribe for the latest news.

Visa Introduces Suite of Mobile Services for U.S. Financial Institutions

Image via Wikipedia

Visa DPS, the largest issuer processor of Visa transactions in the U.S., and Monitise, a leading provider of mobile banking services, have launched a one-stop solution for mobile services

SAN FRANCISCO--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today announced the launch of mobile services that allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transaction alerts on their mobile devices.

“The services offered by Visa DPS are a one-stop solution for Visa clients who want to serve their customers through the mobile channel without making significant investments in hardware, software or mobile expertise”

Working in collaboration with Monitise (LSE: MONI), Visa made a significant enhancement to its issuer processing platform, Visa DPS, to offer mobile services that are fully managed by Visa and can be accessed with any mobile device, any mobile channel, and with any eligible debit, credit or prepaid account. Additional services are currently in development including mobile check deposit, mobile (NFC) payments, mobile offers, and support for V.me by Visa, Visa’s digital wallet service.

Enabling mobile services through the Visa DPS platform directly aligns with Visa’s global innovation strategy to accelerate the global shift to electronic payments, to make payments more secure, more convenient and to bring electronic payments to more consumers in more places.

“The services offered by Visa DPS are a one-stop solution for Visa clients who want to serve their customers through the mobile channel without making significant investments in hardware, software or mobile expertise,” said John Partridge, President, Visa Inc. “Through our ongoing investments in Visa DPS, our clients can not only take advantage of Visa’s scale and expertise in payments processing, but also have the opportunity to easily implement Visa’s extensive roadmap of mobile innovations – from mobile banking, to NFC payments, and to our digital wallet, V.me.”

In developed countries like the U.S., with an established electronic payments infrastructure, expansive Internet usage and broad mobile network penetration, Visa’s strategy is to enhance the consumer purchase experience by making mobile payments and services broadly available.

Lisa Stanton, General Manager for Monitise North America commented: “Mobile money innovation is transforming how consumers manage accounts, providing them with real-time account access and information on the go, while also enhancing the overall experience with their account. The launch of mobile services offered by Visa DPS is a great win for financial institutions in North America eager to utilize the mobile channel to serve their customers.”

About Visa Inc.

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About Visa DPS

Offering Visa quality security, reliability, scale and interoperability, DPS is a large-scale, multi-product, multi-network issuer processor and payment solution provider that delivers a comprehensive and innovative set of capabilities including card, account, and transaction processing, settlement, mobile services, ATM driving, extensive fraud prevention and risk mitigation solutions, back-office tools and services, data analytics, and cardholder and program support services. DPS is the largest issuer processor of Visa transactions in the U.S.

About Monitise

Monitise plc (LSE: MONI.L) is a technology and services company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets. Monitise has a global alliance agreement with Visa Inc. and a strategic partnership with Visa Europe. With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America.

AsiaPay Launches ePayAlert to Provide Advanced Online Fraud Detection

AsiaPay launches ePayAlert, a real-time comprehensive fraud monitoring and control management system that can help detect and prevent online fraud. The new solution and service enables banks, payment service providers, airlines, hotels, and merchants optimize their fraud management operations effectively and efficiently to help minimize financial losses. 

February 20, 2012, Hong Kong – AsiaPay today announced the launch of ePayAlert, a comprehensive online fraud prevention service and solution suite for protecting banks, payment service providers, airlines, hotels, and merchants from the risks associated with card-not-present transactions. This advanced, highly customizable solution and service fully processes and checks online payment transactions with extensive use of dynamic rules with real-time fraud reporting and alert support.

Fraudulent credit card transactions have become a significant source of income loss to online businesses and with online spending on the rise, fraudulent activity is likely to continue to increase. Fraud losses not only affect the bottom line but also affect the future revenue of online businesses. This threat puts added pressure on companies to leverage a fraud review process that is fast, precise and keeps operating expenses in check.

“In today’s online retail environment, it’s imperative that businesses put into place user-friendly tools to effectively identify and mitigate online fraud to help protect both consumers and the organization’s reputation, and such protection can also be extended to the mobile payment environment,” said Joseph Chan, CEO of AsiaPay. “To address this need, we’re introducing a comprehensive online fraud solution and service which provides risk managers and analysts the ability to customize their own risk parameters, extend risk alerts via email or SMS, and download detailed reports and statistics with additional in-depth analysis thereby, allowing them to focus their attention on fraudulent transactions while fast-tracking valid orders through fulfillment.”

ePayAlert is being offered either as an online service, white-labelled hosted service, or as a total solution license model. The key features are:

§   Data Format Checking – assesses customer information gathered against pre-determined rules

§   Blacklist Control – verifies payment information against a comprehensive blacklist database and maintains these blacklisted data items

§   Geographical Checking – cross-examines different geographical data identified in the transaction

§   Velocity Checking – cross-examines velocity of the related data item in the transaction

§   Transaction Limit Checking – validates limit control at bank/merchant level across different time periods

§   Historical Negative Record Checking – validates payment transaction against historical payment and negative records

§   Risk Scoring – applies real-time scoring of payment transaction with customizable rules and weights

§   Real-time Alert – prompts merchants on suspicious payment transactions

§   Real-time Reporting Console – enables merchants to access real-time fraud reports anytime

Moreover, it can be tailored to meet the specific fraud prevention needs of businesses of any size.

For more information on ePayAlert, visit www.epayalert.com.

About AsiaPay

Founded in 2000, AsiaPay, a premier electronic payment solution and technology vendor and payment service provider, strives to bring advanced, secured, integrated, and cost-effective electronic payment processing solutions and services to banks and e-businesses in the worldwide market, covering international credit card, debit card and other prepaid card payments. AsiaPay is an accredited payment processor and payment gateway solution vendor for banks, certified IPSP for merchants, certified international 3-D Secure vendor for Visa, MasterCard, American Express, and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card, and multi-channel together with its advanced fraud detection and management solutions. Headquartered in Hong Kong, AsiaPay offers its professional e-payment solution consultancy and quality local service support across its other 9 offices in Asia including: Thailand, Philippines, Singapore, Malaysia, Mainland China (3), Vietnam, and India. For more information, please visit www.asiapay.com.

MasterCard Establishes Relationship with Silver Tail Systems to Combat Online Fraud

Image via CrunchBase

February 08, 2012 09:15 AM Eastern Time 

Alliance will enable online merchants to more effectively differentiate fraudsters from legitimate consumers

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide and Silver Tail Systems, a leading provider of web session intelligence, announced today a new exclusive relationship that will focus on leveraging and creating innovative solutions to help combat online fraud.

“Web-based navigation-centric solutions view the HTTP stream of a website and analyze in real time the traffic and Web sessions by user and IP addresses”

The companies’ collective expertise will enable merchants to differentiate fraudsters from legitimate consumers in real-time during the online shopping experience.

With eCommerce transactions reaching record levels*, both merchants and consumers benefit from identifying the safest and smartest ways to conduct online transactions.

By combining Silver Tail Systems’ technology with MasterCard’s extensive payments experience and insights, merchants will be better equipped to spot malware or robotic (“bots”) activity originating from personal computers or smart phones attacking their online payments systems.

“Online fraud resulting from malware, viruses and criminal-controlled bots is a serious concern for both merchants and consumers,” says Johan Gerber, Group Head, Global Network Products for MasterCard Worldwide. “With the increased sophistication of these fraud attacks, merchants are finding it more difficult to distinguish between good customers and criminals. Our relationship with Silver Tail Systems allows us to extend beyond the traditional fraud detection methods and provide merchants with a strong defense against fraud, while improving the consumers’ online experience.”

"We are excited to join forces with MasterCard to help reduce fraud for online merchants," says Tim Eades, CEO of Silver Tail Systems. "eCommerce merchants have broadened their focus to embrace the notion of customer interactions, not simply customer transactions. Smart phones, social networks, and app stores represent new catalysts that are forcing merchants to rethink customer interaction with their web presence. Cybercriminals are also exploiting these trends and traditional security tools may not be capable of keeping pace. We provide that granular level of visibility and security throughout consumers' entire online shopping experience, without requiring modification to the end user's device or the back-end website infrastructure."

“Web-based navigation-centric solutions view the HTTP stream of a website and analyze in real time the traffic and Web sessions by user and IP addresses,” says Avivah Litan, Vice President and Distinguished Analyst at Gartner Research. “This method has been successfully used by Gartner clients to spot malware-based activity that shows up as abnormally quick navigation or navigation that doesn't follow normal human patterns and behavior. It has also been used successfully to identify fraud rings and to gain visibility into attacker patterns and behavior.”

Through the new alliance, which is exclusive within the payments industry, MasterCard and Silver Tail Systems will immediately work together to bring innovative fraud solutions to online merchants in the U.S., while exploring future opportunities to expand the scope and reach of the relationship.

* In 2011, U.S. retail e-commerce spending reached a record $161.5 billion, a 13-percent increase from 2010, according to comScore, which measures digital data.

About MasterCard

MasterCard (NYSE: MA) is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Learn more at http://www.mastercard.com/, follow us on Twitter @mastercardnews or join the conversation on The Heart of Commerce Blog.

About Silver Tail Systems

Silver Tail Systems is a leading provider of web session intelligence and protects the world’s leading websites against fraud and cyberattacks at the navigation layer. Silver Tail Systems' award-winning solutions are made possible by the unmatched expertise of its management and technology teams, who bring deep experience, know-how and personal commitment to protect their customers' businesses against online fraud. For more information, visit Silver Tail Systems at www.silvertailsystems.com.

Discover U.S. Spending MonitorSM Consumer Confidence Jumps in January

February 08, 2012 06:00 AM Eastern Time 

Consumers’ Views About the Economy and Their Finances Are Improving

RIVERWOODS, Ill.--(BUSINESS WIRE)--Consumer confidence jumped in January, with more consumers saying the general economy and their personal finances are improving. The Discover U.S. Spending Monitor, a 4-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, recorded a 5.5-point jump from the previous month to 90.5. This is the first time since May 2010 that the index has topped 90.

Nearly 30 percent of consumers felt the overall economy is getting better, a jump of more than 6 percentage points from December and the highest figure in the last year. At the same time, those who reported their personal finances were improving rose nearly 5 percentage points to 23 percent – also the highest figure since February 2011.

The percentage of people who rated the U.S. economy as poor also declined from the previous month, down 2 percentage points to 56 percent. At the same time, the percentage of people who rated the economy as good or excellent exceeded 11 percent, an increase of more than 2 percentage points from the month before and the highest percentage for the Monitor since September 2008.

Views of Personal Finances Improve; More Money Left Over

Consumer sentiment toward their personal finances showed a marked improvement, while more consumers also reported more money left over at the end of the month:

• Consumers from households of all incomes reported a brightening attitude toward their personal finances, with those from households earning between $40,000 and $75,000 annually seeing the biggest jump in sentiment. Of that group, nearly 27 percent said their personal finances were improving, up more than 7 points from the month before. In comparison, of consumers from households with less than $40,000 in annual income, nearly 15 percent reported they feel more positive about their personal finances, up nearly 4 points from the month before.
• 47 percent of consumers reported they had money in their pockets after paying bills last month, an increase of 2 points from the month before.
• Of those who reported having money left over, more than 16 percent said that amount was greater than they had the previous month, a jump of nearly 6 points from December.

Spending Intentions Remain Steady

Consumers reported they spent markedly less in January compared to the previous month, which is typical spending behavior after the holidays. Despite the increase in the number of consumers having money left over after paying bills, consumers say they will hold the line on spending next month.

• 54 percent said they would spend about the same next month, compared to just 43 percent who said that last month. In addition, the percentage of people who said they would spend more did not change.
• The percentage of people who said they would spend less also declined: 21 percent reported they would spend less, a decrease of 10 percentage points from the month before.

Consumers Stay Conservative with Discretionary Spending Plans

Consistent with last month’s data, consumers reported this month that they intend to be conservative with their discretionary spending.

• Just 7 percent said they would spend more next month on discretionary personal items like going out to dinner or the movies, which is the lowest percentage since January 2011. In addition, 49 percent said they would spend less next month on discretionary personal items, an increase of 1 percent, while 41 percent said they would spend about the same as the prior month, an increase of 3 points.
• In addition, 45 percent reported they would spend less next month on major personal purchases like a vacation, which is down 2 percentage points from the month before, while 40 percent said they plan to spend the same, up 3 points from December.
• Household expenditures are expected to remain largely the same in February: 37 percent planned on spending more in the next 30 days, the same as last month, while 9 percent said they would spend less, an increase of 1 percentage point from the month before. Fifty-two percent said they would spend the same amount as the month before, a decrease of 1 percentage point from the month before.

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, visithttp://www.discoverfinancial.com.

Virtual Piggy Announces New Mobile E-Commerce Application for Apple iOS Devices and NFC Plans

Image via CrunchBase

February 08, 2012 08:00 AM Eastern Time 

Innovative Solution For Online Purchasing For Kids Now Available On iPhone and iPad

PHILADELPHIA--(BUSINESS WIRE)--Virtual Piggy, Inc. (OTCBB: VPIG), the innovator in safe-online youth purchasing, today announced the release of its mobile iOS application, which allows parents and kids to manage their Virtual Piggy accounts on their Apple phones and tablets. Virtual Piggy offers a secure, COPPA compliant, e-commerce solution to enable kids under 18 to make online purchases.

“The Virtual Piggy app brings our secure online payment method to the platforms where kids spend the majority of their time.”

Kids between the ages of 8 and 18 have more than $50 billion in annual spending power and yet when it comes to online purchases they either have no ability to spend or they have their parent’s credit card. Virtual Piggy provides technology that gives kids the ability to shop online in a controlled environment that parents can feel comfortable about.

“Kids are very comfortable with e-commerce and over a third of kids 8-11 now have their own mobile device and that number is rising,” said Virtual Piggy Executive, Catherine Williams. “The Virtual Piggy app brings our secure online payment method to the platforms where kids spend the majority of their time.”

The introduction of the Virtual Piggy mobile application is an integral part of the company’s plans to bring their family approved e-commerce solution to the global U18 market, whether they are shopping online using mobile devices or PC’s, or in-store with the integration of NFC technology.

The application is available for download at VirtualPiggy.com and in the iTunes store for no charge.

About Virtual Piggy, Inc.

Virtual Piggy, Inc. delivers a technology platform designed for the management of the under 18 age group in the global online market. Virtual Piggy’s technology enables online businesses to function in a manner consistent with the Children’s Online Privacy Protection Act (COPPA) and similar international children’s privacy laws. Virtual Piggy’s technology enables the under 18 audience to play, transact and socialize in a secure online environment guided by parental permission, oversight and control. For more information about Virtual Piggy, please visit the Company’s website at: www.virtualpiggy.com

Cashplus: New Cheaper and Easier Alternative to 'Free' Banking

February 08, 2012 05:30 AM Eastern Time 

LONDON--(BUSINESS WIRE)--The first fundamental change to the way Direct Debits can be set up and managed in 40 years has been launched today. The new service from Cashplus® provides consumers with cheaper, transparent and easier to manage alternatives to traditional banking. Cashplus® could save customers more than £400million a year as it doesn’t charge penalties if Direct Debit payments would send the account into overdraft.

Cashplus’ new Direct Debit service has a number of unique benefits, including:

• Low balance alerts – If it looks like a Direct Debit is going to bounce, Cashplus® will alert you by SMS and email before the payment is due
• Instant loans for just 50p a day – If you don’t have the money, Cashplus® offer a loan up to £1,000 to guarantee your bill is paid on time
• No penalty fees (Debit Protect) – If a Direct Debit can’t go through Cashplus® won’t hurt your pockets further by imposing a penalty

Already trialled with over 100,000 existing customers, Cashplus® is likely to appeal to a wide range of people. It is particularly attractive to those without bank accounts who, until now, have not been able to access the discounts that many companies offer to customers paying by Direct Debit.

To mark the launch, between 8^th February and 31^st March, Cashplus® customers who set up and pay a Direct Debit via their Cashplus® account will be entered into a prize draw, the lucky winner having their rent or mortgage paid for a year (up to £10,000).

Richard Wagner, Cashplus® CEO said; “A common reason for people getting into debt is that a Direct Debit bounces, sometimes simply because another payment hasn’t gone through. The bank then imposes a penalty, as high as £24, which puts the customer further into the red and into a spiral of debt as more payments then can’t be met, just at a time when money is tightest.

“We have built this product by talking to customers and trying to address the complaints they have about banks and financial institutions. We believe this new service is truly unique. One of our key drivers has been to make all our costs completely transparent, so although the account is not ‘free’ the actual cost, taking account of typical penalties paid by bank customers, is small.”

To out more and enter the prizedraw go to: www.facebook.com/cashplus.

USA Technologies Inks New Three-Year Relationship with Elavon, Inc.

Image via Wikipedia

MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ: USAT), a leader of wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retailing industries, announced that effective November 2011, the company has extended a ten-year relationship for an additional three-years with Elavon, a wholly-owned subsidiary of U.S. Bancorp (NYSE: USB), and a leading global payments provider. Through the delivery of world-class service and competitive pricing, the agreement provides USA Technologies with Elavon’s support to continue with its growth plans.

“This agreement with Elavon is not only important from a business standpoint—helping us towards our goal of profitability and ensuring our services remain positioned for continued growth—but it’s important because it further underlines our commitment to our customers and the consumers who utilize our service”

“We’re very pleased to formalize this new agreement with Elavon, and enter our second decade of doing business together,” said David M. DeMedio, Chief Financial Officer of USA Technologies, Inc. “Our work with Elavon and their commitment to our growth strategy puts us in a position to meet both our long and short-term objectives. We believe that it is also further validation of USA Technologies’ position as a leader in wireless, cashless payments for the self-serve, small-ticket industries.”

“Continuing our relationship with USA Technologies provides Elavon with an opportunity to drive commerce and growth for the small ticket market that USA Technologies represents,” said Tom Boyer, President of Elavon North America. “We are enthusiastic to align with such a well-respected market leader.”

With this new agreement, USA Technologies has reached another milestone along the anticipated path towards profitability consistent with the new priorities the Company recently articulated in a letter to its shareholders. With a safe, secure card-processing provider, USA Technologies has a solid foundation that will support both improvements in functionality as well as a continued increase in customers, connections and resulting transactions processed on the Company’s ePort Connectservices.

“This agreement with Elavon is not only important from a business standpoint—helping us towards our goal of profitability and ensuring our services remain positioned for continued growth—but it’s important because it further underlines our commitment to our customers and the consumers who utilize our service,” concluded DeMedio. “By working with a world-class business partner like Elavon, we increase our value to our customers by providing them the best possible service at competitive rates, and ensuring that their customers have a seamless, enjoyable payment transaction at the point of sale.”

About USA Technologies:

USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has been granted 79 patents and has agreements with Verizon, Visa, Compass, Crane and others. Visit our website at www.usatech.com.

About Elavon (www.elavon.com):

Elavon’s Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB). Elavon provides end-to-end payment processing services to more than 1.2 million merchants in the United States, Europe, Mexico, Brazil, Canada and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, multi-currency support, and cross-border acquiring. Elavon’s industry leading solutions meet the needs of merchants in specialized markets including small business, retail, hospitality/T&E, health care, education and the public sector and are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs.

2012 Credit Card Processing Trend Predictions Released by CardPaymentOptions.com

CardPaymentOptions.com has released its 2012 predictions for the payment industry and the focus for this upcoming year is mobile processing.

Santa Monica, CA (PRWEB) February 07, 2012

CardPaymentOptions.com has released its 2012 predictions for the payment industry and the focus for this upcoming year is mobile processing. With the boom of near field communication, mobile payment systems, as well as quick response (QR) codes, CardPaymentOptions.com is confident it will be a very technology-driven year for the processing industry.

Mobile Processing

Square and GoPayment have been on the forefront of mobile phone credit card processingtechnology for the last 12 months and CardPaymentOptions.com is expecting that to continue. With Square announcing it has reached over one million accounts, the growth so far has surpassed many analyst expectations. GoPayment has publicized their step into the international arena with services being offered in Canada later in 2012.

Near Field Communication

Major corporations like Google have jumped into the payment processing industry and started pushing NFC technology embedded in smartphones. Google has partnered with Citi and MasterCard and are betting heavily that the smartphone will soon be a replacement for a traditional wallet; holding payment methods, discount cards, even personal identification.

“The payment industry has been very consistent for the past 30 years, and the banks and processors have typically held the upper hand over merchants.” Said Phillip Parker, CEO of CardPaymentOptions.com, “With the advent of new technology and multiple competitors entering the payment landscape, the power is starting to shift and merchants are being presented with better processing options that fit their specific needs.”

The news for 2012 is not all good, however. CardPaymentOptions.com predicts that with the ever-adjusting regulations and the pressure on processors to compete with new technologies, merchants may start to see additional fees added to their existing accounts. Processors may also choose to hike rates, which according to most contracts they have the ability to do whenever they see fit.

For a complete list of predictions, visit Top Credit Card Processing Trends for 2012.

About CardPaymentOptions.com
CardPaymentOptions.com was founded for the purpose of educating business owners about the misinformation and unethical practices many processing companies are engaged in. They provide in-depth analysis on over 100 processing companies, including an A to F rating for each business. Based on the extensive reviews, CardPaymentOptions.com has compiled a list of recommended merchant account services that fit specific business needs.

###

YESpay and YES-wallet.com Partner to Deliver Cloud Based NFC Contactless Payment Service for NFC Smartphones

Pouch wallet

Pouch - World's first cloud service based NFC contactless card emulation service.

London, UK: YESpay International and YES-wallet.com Ltd, February 6, 2012 Two companies, YESpay International Limited and YES-wallet.com Limited have built a cloud based payment platform using Near Field Communication (NFC) global standard technology. YESpay and YES-wallet today announced the launch of cloud-based NFC contactless card emulation services conforming to PayWave and PayPass standards offering a more convenient and efficient payment solution for merchants and consumers.

Two companies, YESpay International Limited and YES-wallet.com Limited have built a cloud based payment platform using Near Field Communication (NFC) global standard technology. YESpay and YES-wallet today announced the launch of cloud-based NFC contactless card emulation services conforming to PayWave and PayPass standards offering a more convenient and efficient payment solution for merchants and consumers.

By integrating YES-wallet pouch digital wallet service with YESpay EMBOSS payment service, both companies will provide a cloud service based e-Money/pre-paid/gift-card payment platform that allows provision of convenient and efficient payment methods on NFC smartphones based on Visa PayWave and MasterCard PayPass standards.
Both companies have been focusing on development and provision of Near Field Communication products that comply with NFC global standard.

The partnership allows e-Money (pre-paid gift-card) related business, merchant, and mail order house to implement contactless card payment system without having to make heavy upfront investment by using the Pouch cloud service. YESpay will contribute by providing “payment terminals based on NFC reader/writers” and providing “EMBOSS payment processing services to cultivate and manage merchants” and YES-wallet will contribute by providing “PayWave or PayPass standard virtual payment cards cloud system via its Pouch digital wallet service.”

In the near term, both companies will focus on e-Money payment service based on PayWave/PayPass contactless smart card for closed-loop e-Money applications on behalf of Enterprises. In the future, the partnership expects to form partnerships with bank card issuers and enterprises issuing Visa and MasterCard.

YESpay regularly processes millions of cardholder payments for its merchants and predicts mobile payment will attract customers and merchants alike looking to experience the speed, ease and convenience of paying with their mobile phone.

EPOS solutions providers, Mobile App and web developers can contact YESpay International Limited via sales(at)yes-pay(dot)com or 0871 221 9510 to request integration guides and obtain more information about the YESpay mobile payments strategy.

About YESpay International Limited:

YESpay, a global card payments service company, provides highly secure Internet, EMV Chip & PIN, contactless and gift card payment processing services to independent and multi-chain merchants. Through EMBOSS™, the YESpay Managed Payment Service, merchants can quickly accept integrated card payments within EPOS, kiosks, hospitality and e-commerce systems with minimal capital investment and low on-going services costs. EMBOSS is an on-line IP-based payment processing service that has been generically pre-accredited by major Card Acquirers in Europe and North America (including Chase Paymentech, First Data Merchant Service (FDMS), Barclaycard Business, HSBC, HBOS, Lloyds Cardnet, Streamline, Ulster Bank, Elavon, PBS, Amex and Diners). In addition, the YESpay EMBOSS service is fully end to end certified to Payment Card Industry Data Security Standards (PCI DSS) Level 1 as mandated by Visa and MasterCard. The YESpay EasyV-Suite of card payment products is innovative and cost-effective for EPOS, Kiosk, Hospitality, Mobile and Internet environments. With the YESpay EMBOSS card payment service, merchants can perform card payments in both card-present and card-not-present environments.

http://www.yes-pay.com

Visa Tops One Million Chip Cards in the U.S.

Image via Wikipedia

Visa to support continued industry adoption with enhanced Visa Chip Services

SAN FRANCISCO, Feb. 6, 2012 /PRNewswire/ -- Visa Inc. (NYSE: V) today announced that U.S. financial institutions have reported issuing an estimated one million Visa-branded, EMV chip-enabled cards as of December 31, 2011, demonstrating the significant progress the industry is making toward implementing Visa's U.S. chip roadmap.(1),(2)  In August 2011, Visa announced plans to accelerate mobile innovation and the adoption of EMV contact and contactless chip technology in the U.S.

"Migrating the U.S. market to chip will help build an infrastructure for accepting NFC mobile payments, enhance international acceptance and reduce fraud," said Stephanie Ericksen, head of authentication product integration, Visa Inc. "Since announcing our roadmap last year, we have seen strong interest among U.S. issuers large and small to invest in chip technology, as today's milestone shows. The progress is all the more significant considering that just 18 months ago, there were no Visa-branded EMV contact chip cards issued in the U.S."

EMV chip technology refers to the microchip that is embedded in a credit or debit card, or even a mobile device. Sometimes misleadingly referred to as "chip and PIN," EMV chip is commonly deployed with a variety of cardholder verification methods including signature as well as PIN.  Under Visa's approach, both methods, as well as "no signature required," will continue to be available to issuers and merchants in the U.S. according to their preferences. The critical security advancement is the EMV chip, which protects the cardholder by generating a unique code every time it is used, effectively eliminating the problem of counterfeit cards. The same chip technology also enables mobile NFC payments.

Consumer EMV chip card programs are available from financial institutions such as Chase Card Services, State Employees' Credit Union, United Nations Federal Credit Union, U.S. Bank, and Wells Fargo. The growing adoption of chip technology in the U.S. has been facilitated by Visa's flexible approach to cardholder verification, which provides choices to issuers and merchants as they deploy chip cards and terminals that support signature or PIN or a combination of the two, based on the unique needs of their customers.

"In 2011, Wells Fargo led the way with an EMV smart card pilot to 15,000 customers who travel frequently to countries where chip-based payments is the standard," said Eric Schindewolf, vice president of product development for Wells Fargo Consumer Credit Card. "Based on the overwhelming success of the pilot, we are now considering making this program more widely available."

Visa Chip Services

To support continued issuer adoption of chip payment technology, Visa is introducing Visa Chip Services, a suite of new and existing solutions to help issuers implement programs using EMV chip technology, including NFC-based mobile payments. Built on Visa's extensive chip expertise, Visa Chip Services will help issuers adopt the latest payment technologies efficiently and with minimal infrastructure investment. Several U.S. issuers have already taken advantage of Visa's services to introduce chip card programs, primarily targeted to international travelers, which represents a first step in a more broad-based migration. More than a dozen programs have been introduced since 2010. As issuers become more familiar with chip technology and leverage the groundwork they have already created, interest in more broad-based card programs as well as mobile NFC-based payments is growing as well.

"State Employees' Credit Union was able to build on Visa's expertise and solutions to engage quickly and launch an EMV chip card program in a matter of months, not years," said Leanne Phelps, senior vice president, Card Services, State Employees' Credit Union. "The jump-start helped us to be a leader and provide our members the products and services they want and need."

In addition to consulting services, best practices and testing tools, Visa is able to provide chip data processing and authentication services for issuers who have not made the back-end host system upgrades to be able to recognize and process more complicated chip transaction data.

The services suite has four key components:

• Visa Chip Authenticate is a service where Visa validates the EMV cryptogram on behalf of the issuer, minimizing the need for issuers to make authentication-related host system changes to verify chip transaction data. Issuers can choose to use this solution as a long term solution or on a interim basis while host system changes are in progress.
• Visa iCVV Convert is a chip data conversion and verification service that reduces chip data-related issuer and processor host system changes by converting the chip-based ICC Card Verification Value (iCVV) to the magnetic stripe-based Card Verification Value (CVV) and removing the chip data prior to sending the transaction to the issuer for review and response.
• Visa Streamlined Chip Setup accelerates issuers' time to market through a turnkey setup and testing service for issuers that require a streamlined online-only EMV compliant solution.
• Visa Custom Chip Setup provides issuers requiring online and offline PIN capability with customized guidance on key implementation decisions to develop an optimal chip issuance program.

Visa Chip Services is consistent with a set of implementation recommendations Visa introduced last month in order to help financial institutions and merchants make informed decisions as they evaluate competitive vendor offerings. The recommendations focus on using online processing rather than offline functions that can increase cost and complexity for chip card programs.

About Visa Inc.: Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

(1) The one million cards figure is based on Visa issuer estimates.
(2) EMV (Europay, MasterCard, Visa) is a global standard for payment cards, terminals and transactions
based on chip technology.

SOURCE Visa Inc.