Castles Technology International Corp.'s semi-integrated and standalone EMV application, Code and Go, received EMV certification on the First Data Omaha platform. "Code and Go is an opportunity for First Data ISOs and ISVs to market a fresh and innovative EMV solution to merchants, all while providing themselves with a new revenue stream," said Winston Fong, Chief Executive Officer of Castles Technology.
EY named Michael Nardy, CEO of Electronic Payments Inc., as a finalist for the Entrepreneur Of The Year 2017 Award in the New York program. The prestigious awards program recognizes entrepreneurs who excel in innovation, financial performance, and personal commitment to their businesses and communities. An awards ceremony honoring winners was planned in late June.
Financeit Canada Inc. extended its credit facility agreement with ClearFlow Commercial Finance Inc., receiving an extended revolving credit facility of up to $15 million and a three-year term facility of $20 million. According to Financeit, its cloud-based POS financing technology has serviced over 6,000 Canadian merchants and processed over $1.9 billion in loan applications for consumers making purchases.
GoECart unveiled its corporate rebranding and new business name, Pulse Commerce. The company said it chose the name to reflect its role in delivering a real-time enterprise-wide perspective, or pulse, on a merchant's multichannel commerce operations. "We are changing the game with our modern Order & Inventory Platform that has been purpose-built for the mid-market," said Manish Chowdhary, founder and CEO of Pulse Commerce.
Payment Alliance International Chief Payments Advisor Donna Embry was honored with the Distinguished Payments Professional Award for 2017 from Women in Payments. The award recognizes the lifetime achievement of women who have served as a role model and contributed to the positive image of the payments industry. "I am deeply honored to be recognized among the elite roster of 2017 award recipients by Women in Payments," Embry said.
Payza won the Customer Choice Award for Best International CNP Program at the 2017 CNP Expo and the Online Payment Method Award at the 2017 Merchant Payments Ecosystem conference. Payza's secure payments technology platform presently supports 26 currencies, including bitcoin, for 13 million clients in more than 190 countries, the company said.
Total System Services Inc. recently enabled tokenization universally across its North American commercial card platforms, making TSYS the first commercial card processor to allow Visa and Mastercard corporate, purchasing and small business card clients to offer cardholders the ability to pay with a mobile device using Apple Pay, Android Pay or Samsung Pay, the company noted.
During the CNP Expo, Vantiv Inc. won the 2017 Card-Not-Present Award in the Best Processor category as both a Judges Choice Award and Customer Choice Award recipient for the second consecutive year, making it the first company to win both designations in a single category in successive years. The Best Processor Award honors the company that most effectively responds to the special needs and requirements of merchants that operate online businesses.
A Juniper Research Ltd. report, The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017-2022, projected the number of personal data records stolen by cybercriminals will reach 2.8 billion in 2017 and rise to 5 million by 2020, despite innovative cyber security solutions. The report cited integration of new and old systems as a security vulnerability point for businesses upgrading to new security systems.
Mercator Advisory Group released a report, Open-Loop Prepaid Card Management: Strategies to Take Advantage of the Industry's Inflection Point, that examines near-term, medium-term, and long-term opportunities for prepaid providers. The report encourages providers to think of prepaid cards in new contexts and to enhance programs in order to make prepaid part of a broader suite of financial services products.
NACHA—The Electronic Payments Association issued results from its Spring 2017 survey of 24 financial institutions regarding implementation readiness for Same Day ACH debits by the Sept. 15, 2017, effective date. According to survey respondents, 92 percent indicated they will be ready to originate Same Day ACH debit transactions on the effective date and 100 percent said they will be ready to receive them.
According to a survey conducted by TD Bank N.A., 91 percent of the nearly 400 financial professionals surveyed expect payments fraud to become a bigger threat over the next three years, while 64 percent reported their organization or one of their clients was involved in a cybersecurity event in the past year. The three most common types of cyber incidents reported were business email compromise, account takeover and data breach.
Bluefin Payment Systems LLC partnered with Nodus Technologies Inc., and will provide its PCI-validated point-to-point-encryption (P2PE) solution through Nodus' integrated payment processing platform. Nodus specializes in integrated electronic payments for Microsoft Dynamics GP, AX, NAV and CRM. Nodus will offer the integrated solution directly to clients.
DotDashPay completed certification and integration of its connected commerce platform with the ID TECH suite of contactless readers, including the Kiosk III and VivoPay 4880 series. "This empowers merchants to provide their customers with a better point of sale experience, while also avoiding the pain of a complex and lengthy integration and roll-out schedule," said Bill Rorick, Vice President of Business Development at ID TECH.
Global Payments Inc. entered an agreement with Hyundai Motor UK Ltd. to provide payment technology services via Hyundai's online car buying platform. Dubbed "Click to Buy", the program is said to be the first of its kind to reach customers across the U.K. Powered by Global Payments, Hyundai customers can now complete the entire car buying experience from home.
Hyperwallet Systems Inc. partnered with Dosh LLC, whose cash-back mobile app automatically searches for deals and offers on behalf of consumers. Through the integration, Hyperwallet clients that have enabled the company's integrated loyalty program will be able to direct payees to a branded Dosh interface. The goal for both companies is to reinforce platform affinity and drive word-of-mouth recruitment.
Red Rook launched an initiative with NCR Corp. to provide omnichannel solutions to specialty retailers in North America. Red Rook's Commerce5 solution will leverage NCR's Counterpoint POS system and the Magento ecommerce platform to deliver integrated retail management. "Combining our strengths enables us to deliver a unified experience that keeps us at the forefront of retail technology," said Ken Richard, Global Channel and Distribution Leader at NCR.
NetCents Technology Inc. signed a licensing agreement with Chorus Pay Ltd. to power online transactions for Chorus Pay, the first digital wallet exclusively designed for the betting and gaming industry. "The betting and gaming industry is moving to digital payments and we needed a solution that was advanced and adaptable; as well as partnering with someone who really understood digital currency," said Anthony Taylor, CEO of Chorus Pay.
Cross-border payments network PayCommerce is leveraging Dow Jones risk and compliance data to support its Anti-Money Laundering, Know Your Customer and Counter-Terrorist Financing compliance measures. "We are pleased to empower PayCommerce's customers and members with Dow Jones' world-class risk and compliance data to help them meet these regulatory needs," said Joel Lange, Managing Director of Dow Jones Risk & Compliance.
International online payment provider PayU partnered with payment technology provider Zooz Inc. Through the agreement, PayU will provide Zooz's technology to its customers to help solve cross-border commerce challenges currently faced by merchants looking to grow and scale in high-growth markets, the companies said. As Zooz's first global partner, PayU plans to extend the reach of its financial services in growth markets by capitalizing on Zooz technology.
POS Portal, in partnership with Retail Realm Distribution, launched a process for procuring EMV-ready payment devices for Microsoft Dynamics and Retail Management Hero applications. By joining forces, the partners intend to simplify the POS payment hardware procurement process for value added resellers, integrated software vendors and merchants; as well as reduce configuration errors and ensure devices are ready to process payments on arrival.
PSCU partnered with Ethoca Ltd. in an effort to reduce CNP fraud losses. With Ethoca Alerts, cases of confirmed fraud reported by PSCU Owner credit unions are sent to Ethoca for immediate distribution to more than 5,200 leading ecommerce merchants worldwide, covering more than 205,000 merchant descriptors. Merchants can then immediately stop fraudulent orders and issue cardholder refunds as needed, the partners stated.
ThreatMetrix entered a partnership with Gemalto to provide clients the combined benefits of authentication and digital identity solutions offered by both companies in multiple geographies. "The integration of risk-based and strong authentication provides smart authentication that's secure, real-time and has minimal disruption for the customer experience," said Pascal Podvin, Senior Vice President of Field Operations for ThreatMetrix, adding that through the partnership compliance with regulators can be achieved worldwide.
U.S. Bank teamed with ChargePoint Inc., the electric vehicle charging network, to offer Voyager Network Fleet Card acceptance at ChargePoint charging ports throughout the United States. "Working with ChargePoint is an excellent example of our commitment as a bank to promoting a sustainable environment while supporting economic growth," said John Hardin, Global Transportation General Manager at U.S. Bank.
Evertec Inc. received approval for the acquisition of EFT Group S.A., a Chilean-based company known commercially as PayGroup, a payment processor and software developer primarily serving financial institutions in Latin America. The transaction is subject to customary closing conditions and is expected to close during the third quarter of this year. Evertec plans to fund the purchase through a combination of cash on hand and borrowed funds.
Flywire Corp. acquired PACE Invoice, a multi-currency invoicing platform provider based in London. With the acquisition, Flywire adds international invoicing to its cross-border payments and receivables services, enabling its business, education and healthcare clients to more easily link invoices to cross-border receivables. The move comes on the heels of Flywire's recent expansion into the cross-border payment market for businesses.
Magento Commerce appointed Aparna Bawa as Senior Vice President, General Counsel. Bawa joins the Magento executive team and brings extensive experience in corporate law and building sustainable infrastructure to support growth and global expansion. "I'm thrilled to welcome Aparna to the Magento executive leadership team," said Mark Lavelle, CEO of Magento. "Her knowledge and depth of experience will be critical to advancing our next chapter for Magento."
NetCents Technology Inc. added Lucas Birdsall as its business development leader. Birdsall is a graduate of the Beedie School of Business at Simon Fraser University where his concentrations were in Finance and Operations Management. He brings comprehensive risk management, analysis and research skill sets developed as an Underwriting Trainee with Northbridge Financial Corp. and Research Analyst with Global Securities Corp.
Wirecard AG appointed Brad Fauss and Kevin Brown to its executive team in North America. Fauss joins the company as Legal Counsel and brings over 20 years of payments law expertise to Wirecard and its growing list of clients. Brown will lead the marketing organization in certain countries. He is a seasoned fintech and banking executive, with a successful track record of driving strategy and brand expansion for Fortune 100 companies and equity-backed startups.
ThreatMetrix appointed Dan Welch as Senior Vice President of Global Services. Welch joins ThreatMetrix with extensive enterprise business development, operations and customer success experience. He has established global customer service departments at several high-tech organizations. In this new role, Welch will be responsible for all worldwide service initiatives, including advancing product engagement and driving customer satisfaction.
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