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The Green Sheet Online Edition

March 26, 2018 • Issue 18:03:02

Industry Update

The Green Sheet, Inc.ANNOUNCEMENTS

ATMIA launches research portal

The ATM Industry Association launched an Industry Research Portal featuring a comprehensive list of recommended research information and reports helpful to members. It also offers free member access to a 1967-2017 ATM Time Series by ATM historian and trends analyst, Professor Bernardo Batiz-Lazo, whose new book Cash and Dash: How ATMs and Computers Changed Banking will be released July 1. Visit www.atmia.com for more information.

BAI calls for nominations

The Bank Administration Institute and BAI Center (BAI) are seeking nominations for the BAI Global Innovation Awards. Now in its eighth year, the program recognizes leaders ushering in new era banking. Categories include best application of data analytics, AI or machine learning in a product or service; innovative touch points and connected experiences; innovation in customer experience; among others. Nominations close April 13, 2018. For details, visit www.bai.org.

Dragon picks IdentityMind for ICO assistance

Dragon Corp. launched its $500 million initial coin offering (ICO) Feb. 15, 2018, utilizing IdentityMind Global's plug-in software solution for compliance with know your customer and anti-money laundering requirements. "We chose to partner with IdentityMind given their successful track record of powering some of the world's largest and most successful ICOs, their ability to onboard contributors quickly and efficiently while helping us stay in compliance globally," said Dragon CEO and founder Chris Ahmad.

ETA Transact introduces Biometric + Identity Zone

The Electronic Transactions Association and the International Biometrics + Identity Association will showcase biometric authentication solutions in the Biometrics + Identity Zone – Powered by IBIA at Transact, a new feature in the show's exhibit area. "With the rise of mobile payments and voice commerce, biometric technology will simplify and secure the payments process," said Jason Oxman, CEO of the ETA. Transact will take place in Las Vegas, April 17 to 19, 2018.

FDIC settles with Bancorp Bank

The Federal Deposit Insurance Corp. reached a settlement with The Bancorp Bank, which issues prepaid cards on behalf of numerous nonbanks. The settlement relates to unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act, the Electronic Funds Transfer Act, and the Electronic Signatures in Global and National Commerce Act. The bank has agreed to pay a civil money penalty of $2 million and nearly $1.3 million in restitutions to the 243,000 consumers who were assessed transaction fees exceeding what the bank disclosed.

First Data touts corporate citizenship

First Data Corp. released its inaugural Corporate Citizenship Report, which details its initiatives for philanthropy, diversity and inclusion, military and veteran affairs, and disaster relief efforts, among other topics. Achievements noted in the report include company recognition in the 2018 Bloomberg Gender Equality Index and The Military Times No. 1 employer ranking on the Best for Vets list; launch of a paid parental leave policy in 2017 for primary caregivers; assistance and aid provided in response to recent hurricanes; and establishment of employee resource groups.

NMA opens European office

National Merchants Association expanded globally with the launch of a European office in London. The merchant advocate and payment processor is in the process of obtaining Payment Facilitator certification, which will allow the company to process payment transactions throughout the European Union. Once certified, NMA-owned subsidiary International Merchants Alliance Ltd. will also focus on European-based merchants seeking business in the United States.

TSYS incentivizes wellness at Walmart

TSYS' patent-pending Advanced AuthControl, which recognizes qualified purchases determined by a consumer's healthcare plan, was recently deployed at Walmart and Sam's Club locations nationwide. This solution, in combination with Walmart's Directed Spend proprietary POS decisioning capabilities, will enable TSYS healthcare clients to offer customizable rewards for healthy behaviors to members of healthcare plan wellness incentive programs, TSYS noted.

"The addition of Walmart and Sam's Club to our growing network of retail providers is a huge testament to the capabilities and benefits of Advanced AuthControl," said Trey Jinks, Group Executive, Loyalty, Healthcare & Emerging Markets at TSYS. "The geographic coverage and breadth of merchandise these retailers offer, combined with TSYS' innovative payment solution, creates tremendous opportunities to be healthy and reduce the growth in healthcare expenses by incenting healthy and preventative behaviors versus expensive treatments."

The Green Sheet, Inc.RESEARCH

EPA reports consumers want more from banks

An Emerging Payments Association survey of 2,038 U.K. consumers found that 53 percent would like better quality financial services from banks and only 20 percent had been informed by banks about the European Union's Open Banking initiative rollout. It also found one in five big U.K. banks were compliant with the Second Payments Services Directive by the Jan. 13, 2018 deadline. "Even though the deadline has now passed, over half of consumers still have not heard of the initiative that has the power to change the future of all financial services," the EPA wrote.

NPD notes uplift in houseware sales

Based on data from NPD Group Inc.'s Checkout consumer receipt mining service, U.S. online housewares product sales grew 18 percent in 2017, outpacing the industry average. It found that nearly 25 percent of online buyers purchased three to four housewares items last year. Topping the purchase list were food storage, gadgets and tabletop items; three-quarters also purchased home improvement items; and about half made kitchen appliance and home textile purchases online.

PA circular economy findings

A PA Consulting Group Keeping Customer Connections report found that retailers who offer services to ensure clothing and electronics products are kept out of landfills are able to build loyalty and sales by providing engaging ways for consumers to resell, recycle and donate items during shopping visits. Eight of 10 consumers surveyed would recycle items at stores where the service was available; 72 percent would participate in buyback programs for electronics, 66 percent for clothing; and over half said they would donate items at stores that accepted them.

The Green Sheet, Inc.PARTNERSHIPS

Bluefin teams with Rev360 on eye care

Bluefin Payment Systems LLC teamed with Rev360 to provide PCI-validated point-to-point encryption (P2PE) via RevolutionEHR's cloud-based EHR and practice management software for eye care professionals. Bluefin Chief Strategy Officer Ruston Miles said, "Every company wants the convenience of being able to accept customer payments within their software platform, but they also want the assurance that those payments are protected–especially in healthcare," citing the increased incidence of data breaches reported last year in that sector.

Elavon, RevSpring streamline patient payments

U.S. Bancorp subsidiary Elavon Inc. partnered with RevSpring, a payment solutions provider to over 2,000 U.S. financial services and healthcare provider/technology firms. RevSpring will offer Elavon's Fusebox payment gateway and Simplify pre-certified EMV-enabled solution to its healthcare clients. "Our collective solutions will help increase overall patient financial engagement and reduce card data risks with our EMV-enabled and encrypted processing solutions," said Jana Franks, Senior Vice President and General Manager of Elavon's healthcare business.

Noventis, Comdata join forces

Biller technology firm Noventis Inc. and business-to-business payment technology provider Comdata, a FleetCor company, entered a multiyear agreement that will enable Noventis to deliver payments via virtual credit cards issued by Comdata to its network of suppliers. Comdata, in turn, will use Noventis' processing technology to automate payments for telecom suppliers not currently equipped to accept standard virtual credit card payments. Additionally, the partnership will give Comdata a new distribution channel and Noventis an integrated payment technology.

goEmerchant, Renterval team up

Commerce solutions provider goEmerchant partnered with Renterval LLC, a rental technology enterprise focused on the sharing economy, to provide a suite of secure payment options for in-person, online and phone transactions. "Rental businesses of all types can now connect their Renterval inventory management system with goEmerchant's payment solutions, allowing for easy and secure rental payment acceptance," the partners stated.

TEAMSable, ID Tech collaborate on EMV

POS hardware manufacturer Team Research Inc., (dba TEAMSable POS), entered a channel collaboration with International Technologies and Systems Corp., (dba ID TECH), a designer and manufacturer of secure payment solutions, to bring seamless, integrated EMV card processing solutions to TEAMSable branded POS terminals. Powered by ID TECH's advanced Mini Smart II reader technology, the solutions will be available with TEAMSable's latest generation of Windows and Android POS terminals that are compatible with legacy systems.

TouchBistro Payments powered by WePay launches

iPAd-based POS software provider TouchBistro Inc. launched TouchBistro Payments in partnership with WePay, a Chase company. The new offering features instant payment processing and a new, integrated mobile payment device for pay-at-table service. "With TouchBistro Payments powered by WePay, our restaurants will onboard instantly, so they can start taking payments the moment they unbox TouchBistro," said Alex Barrotti, founder and CEO of TouchBistro.

Verrency joins Silicon Valley accelerator program

Verrency, a global Australian payment platform and fintech marketplace, was accepted into the latest fintech cohort of Silicon Valley-based technology accelerator Plug and Play Tech Center.

Verrency was selected out of almost 1,000 fintech startups to be a part of the program. Verrency will work with Plug and Play's corporate partners on potential pilots, proof-of-concept implementations and investment opportunities. The fintech cohort will run through May 10; Verrency will subsequently maintain a West Coast office at Plug and Play's headquarters.

The Green Sheet, Inc.APPOINTMENTS

Dooley to drive HPS U.S expansion

Paris-based HPS, a multinational electronic payment solutions provider, appointed Michael J. Dooley to spearhead the company's U.S. market expansion and build customer support for its fully integrated PowerCARD issuing, acquiring, switching and chargeback dispute platform. HPS currently serves clients in more than 85 countries across five continents, including ISOs, acquirers, issuers and third-party processors in America, the company stated.

CheckAlt taps Hoffman

CheckAlt LLC hired Adam Hoffman as Managing Director of Product Management. Recognized as a pioneer in the receivables and e-payments space, Hoffman has dedicated the bulk of his career to payments innovation, helping clients accelerate the shift of payment behavior from paper to electronic, the company stated. He joins CheckAlt from Capital One, where he served in a variety of roles, including Head of both the Receivables Product and Industry Specialization teams.

ATMIA taps Leehy, Embry

Payment Alliance International President and CEO John J. Leehy III was elected President of ATMIA's global executive committee, and PAI Chief Payments Officer Donna Embry was elected co-chair of the association's U.S. regional board. The ATMIA represents the global ATM industry; the elections took place in conjunction with ATMIA's recent annual U.S. conference and expo.

Mendizabal takes helm at P.I.N.

Kevin Mendizabal is the new CEO at the Payment Insurance Network (P.I.N.) For years, he has been known "as the payments industry's leading insurance broker," the company stated. "If you've attended any regional or national payment conference, chances are you've met." Most recently, Mendizabal served the electronic payments industry as Director of Financial Institutions at Frates Insurance and Risk Management. Prior experience includes serving the financial institution division at AIG, and underwriting and leadership roles in mortgage banking.

Vaughn joins Paya

Paya, an integrated payment processing and business solutions provider in North America, hired Mike Vaughn as Chief Operating Officer, where he will oversee corporate strategy, with an emphasis on critical acquisitions. Vaughn brings nearly 20 years payments industry experience in account activation, customer service and risk management. He previously served as Vice President of Operations at Total Merchant Services, where he supported over 100,000 merchants processing approximately $12 billion annually, Paya stated.

The Green Sheet, Inc.ACQUISITIONS

Mastercard gains Oltio

Building on its longstanding relationship with the startup, Mastercard completed acquisition of Oltio from Standard Bank Group. Oltio pioneered and patented several mobile payment and banking solutions, including an authentication technology that enables consumers to authenticate Masterpass digital wallet purchases using a bank PIN and mobile phone. Mastercard plans to leverage Oltio's technology for merchants and issuers in cash-orientated, emerging markets.

PeP acquires European PSP PayLane

Polskie ePlatnosci (PeP) purchased 100 percent of shares of PayLane Group. PeP is a recognized name in the Polish payment terminal market; PayLane specializes in innovative solutions for online payments. The companies stated that together they intend to expand the range of their services and offer their clients the opportunity to accept payments in the omnichannel model: via payment terminals, mobile and online.

NMI completes Creditcall acquisition

NMI, which offers payments enablement technology to ISOs, independent software vendors (ISVs), value-added resellers (VARs) and payment facilitators, completed acquisition of Creditcall, an omnichannel payment gateway and EMV (Europay, Mastercard and Visa) solutions provider. According to NMI, the acquisition strategically aligns with the company's objective to deliver a unified payment solution to ISOs, ISVs and VARs serving merchants in omnichannel environments. end of article

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