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CPNI and eCommLink have announced they will be partnering to offer CPNI’s mobile solutions to the prepaid debit card industry. The companies say they will jointly market to eCommLink’s existing program manager and financial institution customers - effectively "mobilizing card programs already in place." READ MORE »
Heartland Payment Systems has announced a settlement agreement with American Express related to the 2008 criminal breach of Heartland's payment system environment. Under the agreement, Heartland said it will pay American Express $3.6 million, resolving all intrusion-related issues between the two parties.
“We are pleased to have reached an equitable settlement with American Express,” commented Bob Carr, Heartland’s chairman and chief executive officer. “This settlement marks the first agreement with a card brand related to the intrusion.”
TrialPay has published issued a new whitepaper titled, “Doing Right by the Consumer: Going Beyond Compliance.” The paper, which is based upon guidelines that TrialPay says it has adhered to since the company’s inception 2006, outlines "best practices for gaming developers, publishers, advertisers and offer companies to ensure consumer protections and long-term success of the industry at large." READ MORE »
Discover Financial Services has reported financial results for its fiscal fourth quarter ending Nov. 30, 2009. For the quarter, Discover noted that Discover Card sales volume declined 1% from the prior year to $22 billion, managed loans remained at approximately $51 billion, and he fourth-quarter managed net charge-off rate rose to 8.43% and the over 30 days delinquency rate rose to 5.31%.
“Discover's results this quarter reflect stronger than expected credit performance and our on-going investments to strengthen the Discover franchise,” said David Nelms, Discover’s chairman and chief executive officer. “We were very pleased with the stability of our sales volume, our expanded merchant acceptance and the continued growth of our direct-to-consumer banking business.”
Visa joined the Federal Trade Commission and the Better Business Bureau in a press conference today to "alert consumers to online deceptive marketing practices associated with free trials with a negative option feature. According to a Visa survey, 29 percent of American consumers have fallen victim to deceptive marketing when unscrupulous e-commerce merchants require them to cancel or opt-out of a recurring charge for future products or services." READ MORE »
mPayy has announced the availability of its mobile payments application in the Android marketplace for all phones that run the Android operating system. mPayy says it "enables free person-to-person payments between members, and low cost merchant processing through its new Android application." There are no costs for opening an mPayy account or making payments. Personal account-holders can receive free mobile payments while small business account-holders pay merchant processing fees. READ MORE »
FIS has announced its next generation bill payment solution for financial institutions. According to the company, "the new bill pay interface uses task-oriented, configurable modules that answer consumers’ hot button bill pay questions, all at the landing page. The solution features a product tour and setup assistant designed to ease “new user” apprehension and drive increased bill pay usage. “Click here” to take a fully interactive tour." READ MORE »
EMV/chip technology will be the topic of a January 2010 webinar from the Smart Card Alliance, featuring speakers from Aite Group, Bank of Nova Scotia, KeyPoint Consulting and Visa on the reasons behind the global migration to this technology, and the possibilities for U.S. adoption.
The free educational webinar, "Top 10 Reasons for Considering EMV in the U.S," will take place on Tuesday, January 26, 2010 at 1:00 p.m. Eastern time/10:00 a.m. Pacific time. To register, please visit http://www.smartcardalliance.org/pages/activities-events-top-ten-reasons-us-should-consider-emv. READ MORE »
In an article titled "Introducing a Twitter for Credit Card Purchases", Don Steinberg writes about Philip Kaplan and his new company Blippy - where you can choose to share your credit card purchase details with friends - or strangers. Kaplan suggests that consumers choose only one of the several credit cards in their typical wallet to make the "social card" - transactions on that card would then be shared via Blippy.
See also last week's TechCrunch article and yesterday's NetBanker article on Blippy.
Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.
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