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Table of Contents

Lead Story

The (tech)tonic shift in payments

News

Industry Update

AmEx defends merchant pricing in court

Recess appointment rebuke raises CFPB debate

Trustwave, First Data team for 'inside-out' security

Features

Striving to be the best place for ISOs worldwide

SDK for ISVs

Views

Visa gets practical to further data security

Ken Musante
Eureka Payments LLC

Education

Street SmartsSM:
Are You Selling Or Telling? - Part 2: Perception is reality

Tom Waters and Ben Abel
Bank Associates Merchant Services

Preparing for EMV migration

Chandan Mukherjee
PayCube Inc.

How can the FTC freeze personal and business assets without a hearing?

Michael Thurman
Thurman Legal

Working from home

Vicki M. Daughdrill
Small Business Resources LLC

Company Profile

Leaf

Pivotal Payments

New Products

Easing into EMV

VIABLE
Vantiv Inc

Franchise POS system

Bevo Charisma
Benseron Information Technologies Inc.

Inspiration

Midyear performance check

Departments

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

July 28, 2014  •  Issue 14:07:02

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Industry Update

ANNOUNCEMENTS

Cachet extends daily ACH deadline

Automated clearing house (ACH) payment processor Cachet Financial Services changed its daily deadline for when ACH transmissions must be made from 5 p.m. to 6 p.m. Pacific Standard Time. The company said the move will especially help its West Coast-based clients avoid errors in ACH orders. "By extending the processing window to six o’clock, our clients have more time to ensure that their files are error-free," stated Hanan Succar, Director of Operations at Cachet Financial.

Money-On-Mobile reaches 95 million unique users

Dallas-headquartered Calpian Inc. reported that its Money-On-Mobile wallet, managed by its Mumbai, India-based subsidiary of the same name, has been accessed by 95 million unique users in India since its June 2012 launch. "Consumer demand for mobile money in India continues to grow because the majority of our country’s 1.2 billion people do not have access to, or even desire, traditional banking services," said Shashank Joshi, founder and Managing Director of Money-On-Mobile.

FFIEC launches cybersecurity web page

The Federal Financial Institutions Examination Council added a cybersecurity web page, available at www.ffiec.gov/cybersecurity. The new web page is designed to be a central repository for current and future FFIEC-related materials on cybersecurity. The launch of the web page coincides with a pilot program at more than 500 community financial institutions that investigates how they manage data security.

First Data rolls out PayLucky Solutions

First Data Corp. launched PayLucky Solutions aimed at providing payments services for the U.S. gambling market. The acquirer said the online and offline gambling and gaming market is "wide and ever expanding, including land-based casinos, Native-American gaming, racetrack betting (pari-mutuel), lotteries and poker, among others." First Data said revenues generated by onshore regulated activity in the United States is expected to reach $2.6 billion by 2017.

Isis plans to rebrand after rise of terror group

In a July 7, 2014, post on its website, the chief executive of mobile wallet provider Isis reported the company will be rebranded to distance itself from any association with the Muslim extremist organization of the same name that has recently rampaged across the Middle East.

"The ISIS militant group has been linked to sectarian violence against civilians and government forces in Iraq and Syria," said Isis Chief Executive Officer Michael Abbott. "However coincidental, we have no interest in sharing a name with a group whose name has become synonymous with violence, and our hearts go out to those who are suffering. As a company, we have made the decision to rebrand."

Miva upgrade launches in beta mode

E-commerce software provider Miva Inc. upgraded its online payment platform to Miva Merchant 9. The upgrade features a new admin interface that offers multiple ways to navigate screens, a new "power user" mode and a marketing command center. Miva released the developer beta of Miva Merchant 9 and expects to officially release the upgrade for all users in the fall of 2014.

mShopper launches mStore upgrade

Mobile commerce platform provider mShopper unveiled version 4.1 of its platform, mStore. The Boulder, Colo.-based firm said the new version features user-experience improvements, universal navigation, extensive use of product imagery and a custom-faceted search engine.

NAC issues EMV guidance

The National ATM Council Inc. released guidance as the U.S. ATM industry transitions to the Europay/MasterCard/Visa (EMV) chip card standard. NAC's guidance includes an update on the current state of the transition and why ATM operators should accelerate adoption of EMV to meet the October 2016 liability shift deadline. NAC's guidance can be accessed at http://natmc.org/.

Payza rolls out e-wallet in U.S.

International alternative payment firm Payza said its online payment processing and e-wallet services are now available in the U.S. market. "We expect U.S. merchants and consumers to take advantage of that user base swiftly," noted Firoz Patel, Executive Vice President of Strategic Partnerships and Global Brand Services at Payza. "This is another major step in extending a full set of products and services to both developed and developing countries."

POSPaper.com redesigns website

POSPaper.com, a manufacturer and Internet-based distributor of specialized paper rolls used for POS and other transaction-based printers, redesigned its website. Mike Anderson, co-founder and Partner at POSPaper.com, said the "total overhaul" of the website reduced the site's cluttered look and improved navigation, as well as the search engine.

Spike seen in Spindle software downloads

Spindle Inc. said the rate of new downloads of its Yowza!! mobile couponing application increased 81 percent in the second quarter of 2014, compared with the previous quarter. Spindle added that the Yowza!! app is now offered by about 120,000 merchant outlets nationwide, representing approximately a 25 percent increase since Spindle acquired Yowza International Inc. in January 2014.

Trustwave makes Zero Malware Guarantee

Data security firm Trustwave called its new Zero Malware Guarantee program a bold approach to malware protection. As part of the Trustwave Managed Anti-Malware Service, Trustwave guarantees to detect and stop 100 percent of malware propagated over the web for its clients. "If malware gets through and infects a business's system in any calendar quarter, the business will receive a one month extension of the service at no cost," Trustwave said.

Visa opens S.F. tech center

Visa Inc. opened the doors of One Market, a 112,000-square-foot innovation center and office space on Market Street in San Francisco. "The move provides Visa technologists, clients, partners and the Bay Area tech community an innovative space to jointly develop the next generation of commerce applications," Visa said.

Yapital tests fingerprint-based biometric payments

Luxembourg-based Yapital Financial AG, a subsidiary of the Otto Group, is testing a biometric payment scheme that employs fingerprint scanning. "As the major smartphone manufacturers are now integrating fingerprint scanning into their products, we have immediately launched appropriate tests," said Oliver Kress, Senior Vice President Innovations at Yapital. Kress added that the solution must be "easy, intuitive and secure for the consumer – only then we will implement it."

RESEARCH

ETA members choke fraud

An Electronic Transactions Association member survey revealed more than 10,000 merchants were discharged for fraud by ETA member organizations in 2013. The survey coincides with ETA's larger efforts to demonstrate the industry's ongoing commitment to fighting fraud in light of federal law enforcement's recent Operation Choke Point campaign targeting payment companies to "choke off" financing sources to industries deemed "high-risk," the ETA said.

Payments' tender truths

An Aite Group LLC report, Tender Truths: The Real Cost of POS Transactions in the United States, presents a financial model based on data collected from merchant interviews regarding costs associated with cash, private-label card, debit and credit card acceptance at specialty retailers, quick-service restaurants and convenience stores.

POS system sales up

Vertical Systems Reseller's third annual The State of POS 2014 report analyzes the POS market across multiple segments. Of those surveyed, 52 percent said POS systems revenues increased in the past year. The top pain points cited by merchants were that existing systems were either outdated, cost too much to operate or didn't integrate with other systems. Payment Card Industry Data Security Standard compliance, mobile POS and enhanced customer experience were other motivators.

HCE ignition switch

The Members Group white paper, The Mobile Payments Ignition Point, posits that Host Card Emulation (HCE) technology will benefit financial institutions and consumers by keeping card issuers in play and creating a seamless mobile user experience. "With HCE and NFC [near field communication] working together, long-standing cardholder relationships are not only safe; they are poised to take off," stated Brian Day, TMG Senior Product Manager and report author.

PARTNERSHIPS

Acculynk empowers Navicure

Acculynk entered an agreement with cloud-based health-care billing and payment provider Navicure Inc., to offer secure payments based on the Acculynk payment platform to Navicure health-care clients. The new offering is expected to launch in the third quarter of 2014.

Axia, Planet Payment launch gateway

Axia Payments partnered with Planet Payment Inc. to launch the Micros Payment Gateway. The new gateway is designed to provide integrated payment support for Micros' enterprise hospitality and dining systems, as well as Planet Payment's Pay in Your Currency solution, offering payments in over 60 cardholder currencies.

Flagship partners with Biz2Credit

Flagship Merchant Services LLC teamed with Biz2Credit Inc. to add small business financing to its merchant suite. "Flagship's clients can immediately be matched with our network of 1,300+ lenders that are willing and able to provide capital to companies that need it," said Rohit Arora, co-founder and CEO of Biz2Credit.

MerchantCircle adds VendAsta

MerchantCircle partnered with VendAsta Technologies to make reputation monitoring available to businesses on the MerchantCircle.com platform. "We've worked with the MerchantCircle team to create a simple process for their network of local businesses to monitor, manage and build their digital footprints," said Jeff Tomlin, Vice President of Marketing at VendAsta.

Merchant Link links with Sertifi, Infor

Payment gateway provider Merchant Link teamed with Sertifi to provide secure electronic signature capture and payments. "Our new partnership with Merchant Link enables organizations to automate both the contract and payment process with one integrated customer experience," said John Stojka, Sertifi co-founder. Merchant Link also joined software developer Infor to deliver point-to-point encryption as part of the Infor Hospitality Management System.

Optimal pairs with Oink

Optimal Payments Plc partnered with Virtual Piggy Inc. to offer Oink as a payment method to merchants on the Netbanx payment gateway. Oink said its technology enables e-commerce merchants to reach consumers under the age of 21 in a manner that complies with Federal Trade Commission and Children's Online Privacy Protection Act regulations.

PAY.ON integrates IxoPay

PAY.ON and IxoPay LLC launched a global interface that combines PAY.ON's web-based omnichannel payment infrastructure with IxoPay's global gateway solution for U.S. and Europe-based clients. PAY.ON said it offers dynamic checkout covering over 150 payment methods via a single interface.

Spindle raises bar with RisePay

Spindle Inc. entered a strategic partnership with RisePay to integrate its payment aggregation technology with RisePay's proprietary gateway platform to target small businesses, service providers and mobile vendors who are seeking an integrated gateway program.

Worldpay and 5LINX partner

Worldpay US, a division of The Worldplay Group, and 5LINX Enterprises entered a referral agreement to promote Worldpay's suite through the 5LINX nationwide network. "This new agreement will give 5LINX and its Independent Marketing Representatives a concentrated approach to Worldpay markets," said Craig Jerabeck, President and CEO of 5LINX.

ACQUISITIONS

Diebold adds Cryptera

U.S.-based Diebold Inc. agreed to purchase Denmark-based Cryptera A/S, bringing an advanced layer of secure PIN payment technology to its ATM suite. Under the agreement, Cryptera will continue to operate as a separate entity and serve as an original equipment manufacturer of encrypted PIN pads for Diebold's global clientele. Terms of the sale were not disclosed.

Ingenico to acquire GlobalCollect

Ingenico Group entered negotiations to buy GlobalCollect, a cross-border e-commerce providerbased in Amsterdam, the Netherlands. "This is a great opportunity to maintain our time-to-market advantage to rapidly reinforce Ingenico Group's position as a global leader in seamless payment," said Ingenico CEO Philippe Lazare. "As an example, it would be a real game changer in North America where we would provide payment solutions across all sales channels, beyond smart terminals."

Optimal to acquire Meritus, GMS

Optimal Payments agreed to acquire California-based TK Global Partners LP, doing business as Meritus Payment Solutions, for $210 million, $150 million of which will be in cash and the other $60 million in Optimal Payments shares. Optimal additionally agreed to purchase California-based Global Merchant Advisors Inc. for up to $15 million in cash. Closing of the two acquisitions is expected to occur in the third quarter of 2014.

Oracle buys Micros

Oracle inked a deal to purchase Micros Systems Inc., a payment and technology solutions provider to the hospitality and retail industries. Under the agreement, Micros stockholders will receive $68 cash per common stock share at a fully diluted value of about $5.3 billion, or $4.6 billion net cash. The Micros board of directors unanimously approved the transaction, which is expected to close during the second half of 2014. Oracle said it plans to retain key Micros personnel.

WEX gains Evolution1

WEX Inc. acquired cloud-based health-care payment and technology provider Evolution1 for $532.5 million in cash. WEX President and CEO Melissa Smith stated, "Evolution1 will enable WEX to address multiple aspects of the health-care payment system, expanding our addressable market while building on our growth in the fleet and travel space."

APPOINTMENTS

Harbortouch gains key executives

POS system and merchant services provider Harbortouch recently recruited several key executives to grow the company’s operations. George Chadwick, the new Chief Financial Officer, most recently served as Director of Finance and Division CFO at Heartland Payment Systems Inc.

The new Directors within Harbortouch’s Major Accounts division are Reagan Davis, a former Vice President at NetPOS, and Tom Williams, who most recently served as a Senior Sales Manager for Squirrel Systems.

The new National Sales Managers are David Cuppett, most recently a Vice President at Vantiv, and Timothy Hills, who was a Vice President at TransFirst LLC directly prior to joining Harbortouch.

Marsan moves to SignaPay

Tom Marsan joined the SignaPay Ltd. team as Vice President of Operations. He previously worked with SignaPay President Jeff Brown in a variety of operational and re-engineering roles at Chase Paymentech, in addition to working with Brown in Internet travel, health care, information technology (IT) and at Priceline.com.

Marsan will manage SignaPay's IT, underwriting, risk, customer service and retention teams, and will be the point person for Sponsor Banks and technology partners.

WePay picks Pellizzer

WePay named financial executive and payment veteran Steven Pellizzer as its CFO. He will be a key player in furthering WePay's role in online payment processing for platform businesses such as marketplaces, crowdfunding sites and small business software, the company stated.

Previously, he was CFO at CyberSource, where he helped grow revenue from $30 million to over $300 million, leading to Visa's acquisition of CyberSource in 2010.

Retail Breifs:

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

USAePay | Impact Paysystems | Electronic Merchant Systems | Inovio | Board Studios, Inc.