Payment technology

NFC Solutions Summit to be held in Texas in June

The 2014 NFC Solutions Summit will be held in Austin, Texas, in June—presented by the Smart Card Alliance in partnership with the NFC Forum—bringing together payment executives from across the industry. The summit will be held on June 3-4 at the Renaissance Arboretum Hotel and will include NFC topics related to the state of technology,... Read More...

SHAZAM, Visa announce agreement on EMV debit solution

The SHAZAM payment network and Visa announced an agreement on Wednesday to allow issuers to use the card company’s common EMV debit solution for Visa- and SHAZAM-branded cards and transactions. “This agreement reflects nearly two years of industry engagement,” SHAZAM CIO Terry Dooley said. “SHAZAM is proud to have acted as a driving... Read More...

NFC Forum releases tech specs for download

The NFC Forum launched on Wednesday a set of nine free technical specifications available for public download in an effort to bolster NFC products and services. The nine new specifications bring the total completed by the NFC Forum to 21. ABI Research, according to the NFC Forum, estimates that more than 500 NFC-enabled devices will reach the... Read More...

TSYS: Mobile wallet adoption lags without integration of personal ID

TSYS recently released a whitepaper discussing the future of mobile wallet adoption and acceptance among merchants, indicating that until mobile wallet developers can fully replace the physical wallet, adoption will likely be hindered. The study examined the mobile wallet market and the evolution of the mobile wallet to reveal consumer insights... Read More...

FIS debuts GenNOW Financial Services

FIS, the world's largest provider of banking and payments technology, announced a new solution on Thursday that allows banks and credit unions to effectively compete with alternative financial services “One in four U.S. households conducts at least some financial transactions outside of the mainstream banking system,” Bruce Lowthers, the... Read More...

MasterCard grows European contactless footprint

MasterCard announced on Tuesday that it grew its European contactless footprint during 2013 to reach 34 countries, including seven new ones. MasterCard, which boasts contactless availability in 63 nations worldwide, added Azerbaijan, Finland, Ireland, Macedonia, Moldova, Montenegro and the Netherlands to its footprint in 2013. Additionally,... Read More...

VeriFone announces new EMV-capable handheld payment terminal

VeriFone Systems, Inc., announced its first handheld EMV-capable payment terminal featuring Bluetooth, 3G radio and WiFi connectivity this week. The VX 690's connectivity allows for fast transactions and flexible payment capabilities, while its size, design and multiple connection capabilities meet the demands of mobile point of sale for... Read More...

NACHA launches Bill Payment Exception Mitigation Opt-in Program

NACHA, the Electronics Payments Association, announced the launch of a new opt-in program on Monday designed to mitigate the increasing volume of business bill payment exceptions originated to billers through online banking channels. The Bill Payment Exception Mitigation Opt-in Program's goal is to improve the reliability of online banking bill... Read More...

Visa Ready Program approves five VeriFone PAYware Mobile devices

The Visa Ready Program recently approved five VeriFone Systems, Inc., PAYWare Mobile EMV-enabled mobile point of sale devices. “Mobile point-of-sale technology is enabling merchants of all sizes to accept card payments, and helping to displace cash and check payments globally,” Bill Gajda, the senior vice president of innovation and... Read More...

Report: Mobile banking continues to gain traction

New research from data analyst Rocket Fuel recently revealed that mobile banking is continuing to gain traction with consumers and numerous opportunities for credit unions exist to capture significant market share. More than half - 59 percent - of 750 financial services consumers 18 or older who own at least one credit card and expressed an... Read More...

Creditcall first payment gateway in U.S. to support EMV

Creditcall recently announced that it is the first payment gateway provider to support EMV in the U.S. ahead of the October 2015 migration deadline. “With EMV migration imminent in the U.S. it’s vital that companies have trusted, experienced partners they can work with to manage the change,” Creditcall CTO Jeremy Gumbley said. “We’ve... Read More...

First Data, STAR Network to use MasterCard’s U.S. debit EMV solution

First Data and MasterCard announced an agreement on Thursday that will allow First Data’s STAR payment network to use the card company’s common U.S. debit EMV solution. The agreement, which is part of an effort to facilitate and encourage the transition to EMV in the U.S., follows MasterCard’s decision in January to offer its technology... Read More...

Ciphrex launches bitcoin wallet with multisignature capabilities

Ciphrex, a California-based startup that provides enterprise-grade digital currency transaction processing software, recently launched BitCoin Vault, the first bitcoin wallet that supports multisignature account management. “Security is the primary consideration for financial transactions, so we’ve focused our efforts in making the use of... Read More...

NACHA releases lineup for PAYMENTS 3D tech expo at PAYMENTS 2014

NACHA—The Electronic Payments Association recently released the lineup for PAYMENTS 3D, an expo for payments innovators to showcase technologies and comments, which will be held next week during the PAYMENTS 2014 conference. PAYMENT 3D participants this year will include ACI Worldwide, Buy It Mobility Networks, CardinalCommerce Corp.,... Read More...

PAY.ON to launch North American subsidiary in New York

Payment processing solutions provider PAY.ON announced on Wednesday it plans to launch a subsidiary in New York to allow the company to more easily collaborate with clients and market its solutions. PAY.ON, based in Munich, Germany, has a global payment network of more than 350 payment providers in over 100 countries. Its latest move will... Read More...

Russia announces plan to develop national payment system

Russian President Vladimir Putin announced last week a plan to establish a national payment system in an effort to reduce the country’s dependence on U.S.-based payment networks. The U.S. and European Union imposed economic sanctions against Russia last month after Russian troops moved into Crimea, which was recently annexed by Russia in... Read More...

FIS, NYCE to make Visa EMV debit solution available to network members

FIS, the largest provider of banking and payments technology in the world, and its NYCE Payments Network announced an agreement to make Visa’s EMV common debit solution available to network participants. The agreement is NYCE’s first formal EMV license. It will support NYCE’s business flexibilities, including portability between debit... Read More...

Wells Fargo accepts $1 billion in deposits through CEO Mobile

Wells Fargo, the first major U.S. bank to offer mobile services for its corporate and commercial customers, announced last week that businesses have deposited more than $1 billion through its CEO Mobile Deposit service. The CEO Mobile app allows customers to use their mobile devices to scan and deposit checks and money orders. “Businesses... Read More...

MasterCard partners with Monitise on mobile wallets

MasterCard announced last week a plan to partner with payment solutions provider Monitise to accelerate the development and implementation of mobile wallets and digital payment technology at financial institutions around the world. “For more than a decade, MasterCard has driven the development of mobile commerce—including the world’s... Read More...

Fed study finds use of mobile banking services increasing

A survey released by the Federal Reserve on Tuesday revealed the use of mobile banking services is on the rise, with increasing popularity among the underbanked. The report, which examined trends in the use of mobile financial services, showed that in December 2013, 33 percent of all mobile phone users and 51 percent of smartphone users had... Read More...

Cummins Allison: ATM upgrades may ease credit union EMV transition

Currency handling technology provider Cummins Allison said on Tuesday that credit union investment in EMV-capable ATM technologies may be able to make the transition to EMV easier and increase security. EMV, a joint effort between Europay, MasterCard and Visa, is widely considered to be the global standard for the interoperation of payment... Read More...

Natural Security Alliance announces authentication specifications

The Natural Security Alliance, an association of banks, retailers, vendors and card schemes dedicated to wireless biometric authentication, announced last week the release of the specifications for its authentication standard. The standard provides for a strong authentication method for payments across numerous channels by combining local... Read More...

Boku, Sunhill Technologies partner to provide mobile parking payments

San Francisco-based Boku, a provider of carrier billing-based mobile payments, announced a partnership with Sunhill Technologies to provide the company with it solutions for parking. Boku reaches approximately four billion consumers in 68 countries. Its partners include Facebook, Sony and Electronic Arts. “Our carrier billing solutions... Read More...

CardConnect selects Ingenico to provide EMV-ready solutions

CardConnect—a payment processing provider—recently chose Ingenico as its EMV chip-based payment technology and P2PE co-development partner for 50,000 merchant-customers in the U.S. Ingenico’s payment solutions will allow U.S.-based merchants to securely accept payments across a number of channels. “As a global leader in the payments... Read More...

Innovation Project announces winners of 2014 PYMNTS Innovator Awards

The Innovation Project concluded last week with the announcement of the prestigious 2014 PYMNTS Innovator Awards, which recognize innovators in the payments industry. Nearly 70 finalists competed for awards in 15 categories. Gold winners of the awards included LevelUp for “Most Innovative Company;” PaySimple eCheck for “Best Check... Read More...

MasterCard launches MasterPass digital wallet in China, Italy

MasterCard announced on Friday the official launch of its MasterPass digital wallet in China and Italy. In Italy, more than 50 percent of consumers are multi-channel consumers, according to a 2013 Nielsen study. Nearly four million Italians make at least 10 online purchases per year, with 11 percent using smartphones and 10 percent via... Read More...

Fiserv named 2014 winner of PLA Innovations Award

Fiserv announced on Thursday that it has been named one of six Innovations Award winners by the Progress in Lending Association for its LoanComplete solution designed to help lenders ensure loan applications comply with regulatory requirements. LoanComplete—a secure, PCI-compliant solution—also allows users to automatically service and... Read More...

Payoneer selected by Google as Trusted Stores program provider

Payments firm Payoneer announced on Wednesday that it has been chosen by Google as a provider for the tech company’s Trusted Stores program, which helps consumers identify secure merchants online. Payoneer will provide customer payouts, as well as bank transfer services, that will allow the program to send payments through to merchants around... Read More...

Differences in developing, emerging payments revealed by mPOS Tracker

Data released earlier this week by PYMNTS.com showed indications of a split between tablet and smartphone mobile point-of-sale use in developing and emerging markets. According to the February 2014 mPOS Tracker report, which monitors developments in the mobile point-of-sale industry, developed countries have increasingly used tablets as a... Read More...

PayPal to receive PYMNTS.com 2014 Catalyst Award

The Innovation Project—a production of PYMNTS.com—announced on Tuesday that it will present PayPal with the inaugural 2014 Catalyst Award later this week at the project conference. The award, the organization’s most prestigious award given for excellence in the payments industry, is given only to companies launched within the past 20... Read More...

Barclays Emerging Payments Forum to draw major payments players

Barclays will host its annual Emerging Payments Forum in New York next week, bringing together major players in the payments industry. Xoom Corp. President John Kunze and CEO Ryno Blignaut will present at the forum at 12:30 p.m. EST on March 24. MasterCard Europe President Javier Perez will also present at the forum at 10:10 a.m. EST, followed... Read More...

RBS Citizens announces mobile banking, ATM upgrades for bank customers

RBS Citizens Financial announced on Tuesday a number of new Bank Better enhancements, including mobile banking, ATM and branch upgrades, for Citizens Bank and Charter One customers. Citizens Bank and Charter One customers now have the option to participate in “paperless banking,” following the implementation of a digital teller system that... Read More...

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