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Table of Contents

Lead Story

CFPB, prepaid companies both dealt blows

Patti Murphy

News

Industry Update

One year in, reviews mixed for EMV in U.S.

CFPB issues rules for reloadable prepaid debit cards

World Payments Report 2016 released

3DS 2.0 adds tools, expands framework

Features

Update - Apple Pay in-browser launched on September 13th

Get ready for biometric payments

Wearables not yet must-have multipurpose tools

Views

Myths in winemaking terroir, ACH payments

Brandes Elitch
CrossCheck Inc.

Reboot your payments outlook

Dale S. Laszig
DSL Direct LLC

Education

Street SmartsSM:
Industry vets round table wrap-up

John Tucker
1st Capital Loans LLC

GDPR's right to be forgotten impacts all business

Lori Schrameck and Celine Rodriguez
CSR Professional Services Inc.

Happy first birthday EMV: the safe, the slow and the numbers

Evi Triantafyllides
PAAY

Company Profile

BillPro Pty. Ltd.

New Products

50-state MSB status in 30 seconds

MSBStatus.com
Adam Atlas Attorney at Law

Digital commerce suite for ISVs, developers

Fuzse ecommerce suite
Fuzse LLC

Inspiration

Take another look at direct mail

Departments

Letter from the editors

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

October 24, 2016  •  Issue 16:10:02

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Industry Update

RETAIL BRIEFS

ANNOUNCEMENTS

New tools for Small Business Saturday

To help business owners prepare for the seventh annual Small Business Saturday taking place Nov. 26, 2016, American Express Co. is providing new, customizable materials and educational content.

"Our ultimate goal is to help small businesses do more business – and for Small Business Saturday, that includes arming them with the tools to help make the day a success," said Amy Marino, Vice President and Head of Small Business Saturday at AmEx. "This year we are collaborating with small business experts, entrepreneurs and influencers to create bite-size digital content and easy-to-customize marketing materials to help small business owners attract more customers, drive sales and feel the love from shoppers on November 26th."

Apriva, TSYS EMV-certify Ingenico terminals

Apriva, a provider of secure end-to-end wireless transaction processing solutions, completed EMV (Europay, Mastercard and Visa) certification with TSYS Acquiring Solutions for Ingenico Group's Telium2 smart terminals connecting through the Apriva Gateway.

"This full-featured certification includes the wireless iWL 220 and iWL 250 devices, as well as the iCT 220 and iCT 250 countertop models," Apriva stated. "The certification spans all major card brands including Visa, Mastercard, American Express, Discover and U.S. debit cards, and includes contactless transactions from Visa, Mastercard and American Express. This certification brings a wide range of payment options to merchants using these popular Ingenico Group smart terminals."

BillingTree closes investment round

BillingTree initiated a recapitalization of the company by Parthenon Capital Partners in partnership with senior management. BillingTree said that following the investment, it will continue to focus on industry-specific strategies via integration with leading software partners in the company's core verticals, a customer-first service culture, and a variety of value-added offerings, such as the company's compliance suite.

Bluefin receives patent

Bluefin Payment Systems was issued a patent by the United States Patent and Trademark Office (USPTO) on systems and methods for decryption as a service. The patent encompasses both Bluefin's high-speed decryption platform and Point-to-Point Encryption (P2PE) Manager, which encrypts cardholder data within a Payment Card Industry security standards (PCI)-approved P2PE device, and prevents clear-text cardholder data from being accessible in the event of a data breach.

Celerant earns top honors

Celerant Technology Corp. was named a Multichannel Merchant Top Commerce Platform for 2017, part of a list of leading commerce platform providers selected by the editors of the Multichannel Merchant website. Celerant stated it enables retailers to deliver a great customer experience while optimizing back-end operations.

"We are proud to receive the Multichannel Merchant Top Commerce Award and strive to provide innovative solutions for retailers," said Ian Goldman, Chief Executive Officer at Celerant.

Fed task forces look at faster payments

Members of two task forces comprising the Faster Payments Task Force, convened by the Federal Reserve to make payments in the United States faster and more secure, began their review of 19 proposals submitted from across the payments industry. The proposals, which detail distinct approaches to the stated goals, were distributed to nearly 500 task force members.

One task force is focused on faster payment capabilities, and the other on enhanced payment system security. Each includes representatives of financial institutions, consumer groups, payment service providers, financial technology firms, businesses, government agencies and other interested parties.

This review stage follows an independent analysis of the proposals by the global consulting firm McKinsey & Co., which assessed the proposals against criteria created by members of both task forces.

Mobivity granted printing image patent

Mobivity Holdings Corp. received a patent from the USPTO for a process for printing dynamic image content on receipts. The patent is the company's seventh and details a system to generate value-added messages on receipts printed by POS systems, such as location, time of day or other purchase data. The patent application claims priority to a patent application filed in 2006.

Mozido president recognized

Mozido Inc. President Mike Love was named on Let's Talk Payments' Top FinTech Influencers list. The list was devised to spotlight influencers bringing about significant change and innovation within the financial services space. It includes the "thinkers and doers" within the industry, including startup founders, chief executives, bankers, technologists, industry experts and advisors, regulators, and people who run associations and industry bodies, Let's Talk Payments stated.

Duffy comments on CFPB constitutionality

U.S. House Financial Services Oversight & Investigations Subcommittee Chairman Sean Duffy, R-Wisc., responded to a federal appeals court ruling that the structure of the Consumer Financial Protection Bureau is unconstitutional.

"Today's ruling … should come as a surprise only to those who put their faith blindly in government," he stated. "Ironically, the court's finding that the CFPB isn't sufficiently answerable to the President completely ignores its unaccountability to the American people and their representatives in Congress, who have no say over the Bureau's funding." He added Congress should pass the Financial CHOICE Act to convert the CFPB into a bipartisan commission, subject to congressional appropriations.

Payoneer finalizes funding round

Payoneer Inc. completed its first round of growth equity financing. Investment firm TCV led the round and was joined by existing investor Susquehanna Growth Equity LLC. Proceeds from the financing will be used to accelerate global growth and to enhance an already strong and debt-free balance sheet, Payoneer stated. In addition to its investment in a newly issued preferred stock, TCV also committed to purchase shares from existing shareholders.

PSCU releases KnockOut 2016 finalists

Credit union service organization PSCU named the finalists of KnockOut 2016, a 24-hour competitive summit during which credit union employees worked with outside experts to develop innovations that could help PSCU better serve its members. More than 200 participants worked through the night and presented their original concepts and prototypes to a panel of judges the following day. Three finalists will now proceed to open voting to determine the winning idea.

TransUnion launches fraud exchange

TransUnion LLC launched its Fraud Prevention Exchange, an industry collaborative designed to enhance responsible lending by helping combat online fraud. The exchange includes established and emerging fintech lenders and will leverage the power of collective data to help lenders face challenges brought on by origination fraud, including synthetic identity and loan stacking. Rapid information sharing among exchange members is paramount in the battle against online fraud, TransUnion noted.

RESEARCH

CardFellow releases B2B guide

CardFellow LLC published B2B Transactions: Level 2 and Level 3 Credit Card Processing, a paper on saving money when accepting commercial credit cards. The guide, available to businesses free of charge at www.cardfellow.com/b2b-transactions-level-2-3-credit-card-processing, explains the intricacies of commercial credit card acceptance and lays out steps for how to save. "We're offering this guide to provide business owners with the facts that will show them how to process commercial cards for about the same cost as a consumer card," said Ben Dwyer, CardFellow's founder and President.

Mercator covers regulatory control trends

Mercator Advisory Group's latest research note, Prepare for the Regulatory Trend Focused on Fairness and Clarity in Financial Services, discusses the need for a new business model in the credit card industry. The report responds to the new regulatory trend exemplified by recent Consumer Financial Protection Bureau actions affecting the payments industry. Report authors suggest "bringing together a focused management infrastructure with stronger analytics, more focused investigating staff, and a well thought out mission for education, fairness, and transparency."

U.S. Payments Forum discusses EMV speed

To provide guidance for issuers and merchants on speeding up EMV transaction times, the U.S. Payments Forum released a white paper titled Optimizing Transaction Speed at the POS. The paper covers three approaches – faster EMV solutions, contactless/near field communication transactions and EMV checkout optimization.

NTT Data, Ingenico, Oxford, Charney report on money

According to a new global survey by NTT DATA Inc., Ingenico, Oxford Economics, and Charney Group, more than half of the 2,000 consumer respondents believe mobile wallets are less secure than cash, yet nearly 60 percent of 300 executive respondents believe mobile money is a safe business opportunity. Researchers also found that customers in developed and developing countries are interested in using mobile money, but companies need to ease security concerns for adoption to become widespread.

Wausau survey looks at RDC for SMBs

A survey commissioned by Wausau Financial Systems Inc. revealed a diverse, emerging small-business market for mobile remote deposit capture (RDC). Conducted by Celent LLC, the survey highlights the desire of U.S. small business owners for efficient, low-cost mobile deposit options. The study found fewer trips to the local bank branch and affordable options for RDC can help small business owners enhance efficiency and growth.

PARTNERSHIPS

CDC, 1776 open blockchain center

The Chamber of Digital Commerce and technology incubator 1776 partnered to launch the DC Blockchain Center, the first blockchain incubator to serve Washington, D.C. The center will serve as an entrepreneurial resource for technology providers and governments investing and innovating in blockchain-based technologies. It will focus on helping regulators and government agencies understand the potential benefits of blockchain technology and providing a forum for the public and private sectors to collaborate, the partners said.

Corcentric partners with FIS, Comdata

Corcentric launched an electronic payment solution to help its customers further automate and digitize their payment processes. The solution, formed in partnership with FIS and Comdata Inc., automates back-end accounts payable and payment transactions, processes all of a company's disbursements, reduces accounts payable and payment costs, and efficiently manages the cost of organizational growth, the partners said.

Chosen Payments connects NLA members

After eight months of development, Chosen Payments launched an Internet portal that connects hundreds of National Limousine Association members in the United States that process payments through Chosen. As the affinity program credit card processing company for the NLA, Chosen also sponsors industry tradeshows, executive retreats and state association meetings.

Using an interactive visual map, the portal allows companies to see what type of vehicles an affiliate offers to make sure it connects with the right company for the job, Chosen stated. "Using a single 'connect' button, limousine services can immediately share information about a particular assignment between each other," the company added.

Diversified, Eagle, Esquire Alliance

Diversified Acquiring Solutions and Eagle Processing Systems LP entered into a multi-year processing agreement with Esquire Bank N.A. "Under this agreement, we will enhance our direct merchant acquiring portfolio by leveraging bank identification number sponsorship through Esquire Bank," said John T. Black, CEO of Diversified. "Our ability to have direct access to the Fed for automated clearinghouse (ACH) and Image clearing will add to our suite of products and solutions for our client base."

Ethoca partners with Lean Industries

Ethoca Ltd. formed a partnership with dispute management software provider Lean Industries. Through the partnership, any card-issuing bank using Lean's AdjustmentHub dispute processing platform will be able to automatically connect to Ethoca's Global Collaboration Network to resolve fraud and customer disputes. To increase the level of automation and speed of resolution for disputed transactions, AdjustmentHub will send disputed transaction data to Ethoca in near real time, the companies said.

FAPS, ShearShare team up

First American Payment Systems LP partnered with ShearShare Inc. to deliver a mobile payment solution on ShearShare's platform, which matches licensed beauty professionals to unused salon space. ShearShare users can now leverage mobile payments, backed by advanced security features, for professional clients wherever they are working. According to the partners, the payment solution is well suited for ShearShare users who often work from different salon locations.

First Data partners with Bypass

First Data Corp. and POS solutions provider Bypass Mobile LLC teamed up to provide the Seattle Seahawks with cutting edge commerce technology at the NFL team's CenturyLink Field. The partnership was formed to improve the fan experience at the stadium through a full-venue deployment of hundreds of Clover POS devices, enhanced with Bypass' back-office management tools and insights engine, which have resulted in shorter lines at stadium concessions, the companies said.

HFS, linked2pay align

linked2pay and Harley Financial Services Inc. launched HarleyPay on the Bank Centric Payments platform. As a business payment solution, HarleyPay will offer merchants fully integrated options to accept card, automated clearing house and RDC payments via online form, mobile device, email, virtual terminal, phone and shopping cart. The partners said the approach is ideal for business-to-business, educational, municipal, insurance, utility, medical and other business environments.

Jack Henry partners with Visa

Jack Henry & Associates Inc.'s JHA Payment Solutions Group joined forces with Visa Inc. to deliver faster person-to-person (P2P) payments to recipients' Visa debit cards. Jack Henry said payment transactions have grown consistently since it began offering P2P payments in 2005, and this partnership is intended to accelerate that growth, and support same-day funds transfer in most cases.

PayLease teams up with PayPal

PayLease formed a strategic partnership with PayPal Inc. initiated to give renters and homeowners more options when paying property managers online. Homeowner associations and property management companies that use PayLease will now be able to accept PayPal transactions when collecting rent and dues, PayLease stated.

Sterling Payment collaborates with Focus POS

Sterling Payment Technologies partnered with Focus POS Systems to offer a semi-integrated EMV solution to businesses in the hospitality industry. The solution utilizes Datacap NETePay and Ingenico smart terminals, and includes a tip processing feature and the ability to accept payments from mobile wallets utilizing built in NFC technologies, the partners noted.

UATP partners with dLocal, Planet Payment

UATP partnered with dLocal to offer local currency payment options to UATP's airline merchants. The partnership will focus on emerging markets to fulfill the growing need for payment options. UATP also welcomed Planet Payment Inc. to its network, giving merchants access to a wider portfolio of alternative forms of payment. According to UATP, working with Planet Payment will help merchants capture more sales by offering the optimal payment set-up for every market.

ACQUISITIONS

Accuvia assumes assets of Level 10

Accuvia Software Group LLC acquired the software assets from Level 10 LLC. The assets include a retail POS software suite, including a Microsoft Windows-based POS solution and an iOS-based mobile POS platform. Accuvia reported that as part of the transaction, ASG will retain the existing development team in the United States and the offshore development team based in Eastern Europe.

Cardtronics bids for DCPayments

Cardtronics plc and DirectCash Payments Inc. entered an agreement under which Cardtronics will acquire DCPayments. Cardtronics said the purchase price includes the assets of First Data's Australian retail ATM and managed services ATM portfolio, which was acquired by DCPayments on Sept. 30, 2016. The combination is expected to leverage Cardtronics' existing infrastructure and relationships and drive substantial operating synergies, the company said.

SourceHOV finalizes TransCentra purchase

SourceHOV LLC completed its acquisition of TransCentra Inc. According to SourceHOV, the acquisition expands its global transaction processing solutions footprint and its mobile banking offering, while enabling TransCentra to leverage SourceHOV's global presence to capture further revenue streams. The acquisition comes less than two years after the merger of SourceHOV with BancTec Inc.

APPOINTMENTS

PayNearMe hires Campbell

PayNearMe Inc. appointed Kristina Campbell as its Chief Financial Officer. Before joining PayNearMe, Campbell served as the General Manager of GoBank, a mobile and online checking account provider created by Green Dot Corp. Campbell brings to PayNearMe 20 years of experience in business strategy and operations through leadership positions at Bain & Co., Avery Dennison Corp. and Citigroup Inc.'s investment banking operation, Salomon Smith Barney.

ACI's Thomalla joins CEPS ECRI

ACI Worldwide appointed Paul Thomalla, ACI Worldwide's Senior Vice President, Global Corporate Relations, to the executive committee of the European Credit Research Institute of the Centre for European Policy Studies. The CEPS ECRI is a leading think tank and EU debate forum. "I look forward to working with my fellow board members as we shape the strategic direction of European payments," Thomalla said.

Mercator adds Walent to team

Mercator appointed Joseph (Joe) Walent as Associate Director of a new research offering from its Customer Interaction Advisory Service created to focus on the use of traditional and next-generation financial service delivery channels. Walent will leverage his experience in the financial sector and information technology services to bring fresh insight about innovations underway in the payments sector, Mercator said.

Williams signs with CardConnect

CardConnect welcomed Jason Williams as its Senior Vice President, Business Development. In this role, Williams will build and manage CardConnect's partner channel, with special focus on ISOs and banks. "We've placed a heavy emphasis on developing scalable technology and processes that will ensure our partners' success in a competitive and vastly changing industry," said Angelo Grecco, Executive Vice President, Business Development at CardConnect.

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:

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