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Equifax

Welcome to the News View for "Equifax".

Here, on these archive pages, you'll find all of the articles on Payments News for Equifax listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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April 03, 2014

Equifax Partners with Jumio for Mobile Commerce

Equifax logo 140pxEquifax has announced a partnership with Jumio to develop "a series of solutions that will create a more streamlined, secure mobile transaction process for both consumers and retailers."

One of the biggest challenges facing the mobile commerce industry is shopping cart abandonment. Almost 47 percent of consumers have abandoned a mobile purchase specifically due to the difficulty of entering personal information and card data on a small device. By leveraging the strengths of Equifax 1-Touch Services and Jumio’s proprietary Netverify and Netswipe technology, Equifax will be able to auto-fill the personally identifiable information needed to complete a transaction on a mobile device. Equifax consumer information resources will be utilized in tandem with Jumio’s authentication and validation capabilities to reduce fraud, increase purchases and ultimately improve the consumer mobile commerce experience.

“The partnership with Jumio will bring our mobile commerce capabilities to the forefront of a very dynamic, cutting-edge industry,” said Anand Krishnaswamy, Vice President of Mobile Commerce, Equifax Inc.

“Our joint initiatives are unmatched in the market, and we’ll be working very closely with Jumio to take our technologies and solutions to the next level by making mobile transactions easier than ever and more secure for consumers and retailers alike. Consumer identity verification, device authentication and credit card origination can now be done in real-time with just the tap of a finger.”

The solutions will also be integrated with the Equifax Mobile Wallet functionality, allowing consumers to access their cards on their mobile device to use for purchases. Shoppers can choose to either scan their credit card with their smartphone, or utilize their smartphones in-store at the checkout counter to complete the transaction. Additionally, users can opt in for instant, store-brand credit card offers. If the line of credit is extended to the user, they can instantly use the card on their mobile device. Most importantly to the consumer – no consumer credit data is stored or cached on their smartphones.

September 30, 2013

Headline News from PaymentsNews.com - September 30, 2013

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Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

July 08, 2013

Headline News from PaymentsNews.com - July 8, 2013

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Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
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February 21, 2012

Americans Owe Less on Their Credit Cards

Equifax logo 140pxEquifax reported today that nearly 60 of the top 100 metropolitan statistical areas (MSAs) hardest hit by credit card debt realized double-digit declines in the percentage of income owed to credit card companies -- up to 24% in some areas.

The reduction in U.S. consumer credit card debt began a steady decline in the fourth quarter of 2010 that continued through the end of 2011, as consumers remained cautious of their spending and focused on deleveraging debt. Consumers owed up to 17% of their income to credit card companies in 2010, according to Equifax's analysis.

October 07, 2010

Equifax Acquires Cloud-Based Authentication Provider

Equifax_logo_140px.pngEquifax has announced that it has acquired Anakam. "With the combination of Anakam's Identity Suite and Equifax's eIDverifier, the company will be able to provide a single, integrated platform for two-factor identification as well as no-touch, risk-based identity verification and identity proofing."

March 03, 2010

Open Identity Exchange Provides New Online Trust Framework

OIX_logo-140px.pngGoogle, PayPal, Equifax, VeriSign, Verizon, CA, and Booz Allen Hamilton have announced the formation of the Open Identity Exchange (OIX), a non-profit organization they say is "dedicated to building trust in the exchange of online identity credentials across public and private sectors. With initial grants from the OpenID (OIDF) and Information Card Foundation (ICF), OIX has been approved as a trust framework provider by the United States Government to certify online identity management providers to U.S. federal standards for identity assurance." READ MORE »

December 28, 2009

Moneta, Equifax Partner to Add Instant Credit Options

Moneta has announced an agreement with Equifax "to utilize the Equifax credit decisioning system for a new instant credit feature for Moneta’s online payment wallet. Merchants accepting Moneta payments may now offer a range of bank-sponsored funding options to their customers including checking, savings, money market and now instant transactional credit lines underwritten by the sponsoring bank." READ MORE »

December 22, 2009

Equifax Finds U.S. Consumer Payment Trends Continue to Deteriorate

Consumer delinquency rates for bankcards, first mortgages and home equity lines of credit again rose month-to-month in November, according to Equifax's monthly Credit Trend Report.

Bankcard issuers continued a year-long trend of closing accounts and reducing credit lines. Card risk management programs have accelerated since July of 2008, reducing card credit lines by $803 billion and the number of accounts by 93 million. Delinquency rates for bankcards picked up notably since the end of 2008 in tandem with rising unemployment. The November 2009 60-days-past-due rate of 4.62 percent is almost a full percent higher than the November 2008 rate of 3.76 percent. However, the rate still remains below the peak of 4.79 percent in May 2009. READ MORE »

October 13, 2009

Equifax Details Credit Trends as Consumers Save, Cut Credit Cards

Equifax_logo-140px.jpgConsumers continue to fight the recession by saving more and paying off debt, banks are responding with more careful lending, and stressed homeowners increasingly are falling behind on mortgages on their primary residence, according to the latest Equifax Credit Trends Report for September 2009. READ MORE »

July 21, 2009

Equifax, FICO Deliver New Credit Capacity Index

Equifax_logo-140px.jpgEquifax and FICO have introduced the Credit Capacity Index to give lenders and credit grantors easy access to a unique analytic tool to better assess consumer credit risk. The Index is "the first forward-looking risk management tool that rank-orders consumers based on their ability to take on future debt. Available through Equifax, Credit Capacity Index enables lenders to strengthen their account acquisition and account management strategies while minimizing exposure to potential losses while not burdening consumers with too much debt." READ MORE »

July 07, 2009

Equifax Launches Debt Wise for Consumers

Equifax_logo-140px.jpgEquifax has launched Debt Wise, a new product that uses information from the Equifax Credit Report to consumers to free themselves from debt--faster. According to Equifax, "Debt Wise effectively eliminates one of the biggest hurdles for many debt laden consumers -- getting started. Subscribers can create their personal debt payment plan online in as little as 10 minutes, in the privacy and comfort of their own home." READ MORE »

April 21, 2009

Equifax Launches 'Identity 2.0'

Equifax has announced "a suite of products and industry initiatives to protect consumers' identity online and enhance security for personally identifiable information. Led by Ron Carpinella, vice president of identity management and identity marketing, Equifax's "Identity 2.0" program builds a pipeline of products that make online transactions easier and more secure for consumers and businesses. The Equifax I-Card(TM) and its enhanced authentication offering, eIDverifier(R), are two of the company's initiatives." READ MORE »

November 13, 2008

Equifax Introduces Online Identity Card - I-Card

Equifax has announced the Equifax online identity card or I-Card, with a beta test of what it is calling "a first-of-its-kind digital identity management solution that is designed to make online transactions easier and more secure for both consumers and businesses." READ MORE »

June 10, 2008

Equifax, Fair Isaac Partner for Analytics, Scoring Solutions

Equifax and Fair Isaac have announced a partnership "to develop and sell advanced analytics and scoring solutions for businesses and consumers. Under the agreement, the two companies will leverage Equifax's consumer credit data and Fair Isaac's scoring technology, and will jointly market and sell new FICO analytic products." READ MORE »

April 15, 2008

Equifax to Enter Russia through Investment

Equifax has announced that it has agreed to acquire a 28 percent equity stake in Global Payments Credit Services LLC (GPCS), a credit information company in Russia, from Global Payments Europe, s.r.o., a subsidiary of Global Payments Inc., and Home Credit and Finance Bank of Russia (Home Credit). READ MORE »

June 08, 2007

I4 Commerce Using VantageScore from Equifax

Equifax has announced that several banking, retail and technology customers are incorporating VantageScore into their decisioning processes - including I4 Commerce which has begun utilizing VantageScore within its underwriting process.

READ MORE »

October 12, 2006

Fair Isaac Sues Major Credit Reporting Agencies

Fair Isaac Corporation has announced that it filed a lawsuit yesterday in Federal Court in Minneapolis "alleging that the three national credit reporting agencies and a jointly owned entity have violated antitrust laws and engaged in unfair competitive practices." Fair Isaac alleges that "Equifax Inc., Experian Information Solutions Inc., TransUnion LLC and VantageScore Solutions, LLC, through their launch and marketing of the VantageScore credit scoring model, are jointly engaging in unfair and anti-competitive practices that harm the FICO credit score brand and goodwill that Fair Isaac has spent 50 years creating."

READ MORE »

September 11, 2006

Equifax Introduces Long-Term Growth Strategy

Equifax held an Investor Conference on Friday to "review Equifax's current operations, highlight Equifax's key growth initiatives, and outline objectives for growth through 2010." The webcast archive along with the Investor Day presentation slides are available online. The slides are well worth reviewing as they include some interesting market size and share data on Equifax's various business lines - along with their strategies.

July 08, 2006

The Credit Game Is Getting a Second Scorekeeper: VantageScore

Damon Darlin reports for the New York Times on VantageScore, the recently introduced alternative to the long-standing FICO scores produced by Fair Isaac. According to the three credit bureaus that created VantageScore - Experian, TransUnion and Equifax, it improves risk prediction of future credit performance by weighing more factors. VantageScore also reportedly is more accurate at assessing consumers with "thin files" - having a short credit history.

June 11, 2006

How To Stop Credit Card Marketing Solicitations

Douglas Blew writes to the Charlotte Observer with advice on how to stop credit card marketing solicitations - by removing your name and address from the marketing lists provided by the three major credit bureaus: Equifax, Experian and TransUnion. By calling (888) 5 OPT OUT (888-567-8688) you can request removal. More information on opting-out is also available on the Experian web site.

May 09, 2006

SunTrust: Free Credit Watch w/Selected Checking Accounts

SunTrust Bank has announced a free identity theft protection and credit-monitoring program from Equifax, "becoming the first major bank in the nation to provide Equifax Credit Watch Silver protection for free to select personal checking clients."

READ MORE »

PayPal Offers Free Equifax Credit Alert Monitoring

Equifax and PayPal have announced a new credit alert program that provides PayPal account holders in the United States with free monitoring of their credit records. Through this relationship, PayPal users receive free early warnings alerting them to activity on their Equifax credit report.

READ MORE »

April 12, 2006

A Look At VantageScore

Advantage Credit has announced some results from a recent teleconference it hosted to explore the new VantageScore, a new consumer credit score jointly developed and introduced recently by Experian, TransUnion and Equifax.

READ MORE »

March 15, 2006

More on VantageScore

Eileen Alt Powell reports for the AP with more details about VantageScore, the new credit scoring system announced yesterday by the three major credit bureaus Equifax, Experian and TransUnion.

READ MORE »

March 14, 2006

Consumer Credit Reporting Companies Introduce VantageScore

The nation's three consumer credit reporting companies -- Equifax, Experian and TransUnion -- have jointly announced the introduction of a new credit score called VantageScore they say will simplify and enhance the credit process for both consumers and credit grantors.

READ MORE »

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