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June 23, 2010

New Quarterly Newsletter from the Direct Response Forum

The Direct Response Forum has launched a new quarterly newsletter intended to help payments professionals. You can find it on the DRF website here. This issue has contributed articles on payment options, interchange fees, and fighting fraud.

TransUnion, ID Analytics Introduce New Credit Optics Plus Score

TransUnion and ID Analytics have introduced a new credit risk score – ID Analytics Credit Optics Plus – that the two companies say "examines conventional measures of creditworthiness, willingness and ability to pay, in combination with a new dimension, stability, in a single solution. This powerful combination provides a 360-degree view of consumer behavior and enhances the predictiveness of credit decisions, often resulting in a performance lift for lenders." READ MORE »

A Look at Bank of New Zealand's Liquid Encryption Number Technology

A news story in today's Sydney Morning Herald caught my eye: "New software to beat credit card fraud". The story describes how National Australia Bank is rolling out new technology - called liquid encryption numbers (LEN) - developed at its Bank of New Zealand subsidiary to deal with card fraud.

Exploring a bit further, I found this BNZ page with more details about LEN. According to BNZ, "LEN updates the magnetic stripe security information on BNZ credit cards when a transaction is completed at a BNZ ATM. This technology allows us to automatically detect if your card has been copied or duplicated without your knowledge. " READ MORE »

Fed Publishes Rules for New Same-Day ACH Service Coming in August

Federal ReserveThe Federal Reserve Board has announced posting rules for a new same-day automated clearing house (ACH) service that will be offered on as an opt-in, same-day settlement service for certain ACH debit payments through the FedACH service effective August 2, 2010. According to the Fed, "FedACH customers may opt-in to this service by completing a participation agreement. The service will be limited to transactions arising from consumer checks converted to ACH and consumer debit transfers initiated over the Internet and phone." SameDay forward debit transfers will post to institutions' Federal Reserve accounts at 5:00 p.m. ET and SameDay return debit transfers will post at 5:30 p.m. ET. Details are in this Federal Register notice.

GDS Link Selected by RBS WorldPay for Merchant Fraud Detection

RBS WorldPayGDS Link has announced that is has been selected by RBS WorldPay to incorporate its DataView360 decisioning technology for better portfolio segmentation and merchant fraud identification. According to the company, "with DataView360, clients can implement and manage their fraud-based rules for several business functions, including screening for fraudulent transactions or generating knowledge-based questions and answers." READ MORE »

Headline News - June 23, 2010

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Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers seeking to hire payments professionals can post their job openings there as well.

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