Insights

Mobile Devices Increase Sales At Nordstrom

April 17, 2012

Nordstrom, the Seattle-based fashion and beauty retailer offering apparel, shoes, makeup and other beauty products, is rolling out mobile point-of-sale (POS) devices throughout their full-line stores, as well as in some of their Nordstrom Rack stores. These mobile POS devices, which is a modified iPod Touch with a merchandise scanner and credit card slider, allow…

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Internet Payments via ACH Grow 9.5% in 2011

April 17, 2012

Direct ACH debit payments made when authorization is given via the Internet or a mobile device grew 9.5 percent in 2011, accounting for nearly 17 percent of total ACH network payments, according to NACHA, the organization that manages the ACH payment network. NACHA estimates that 80 percent of these transactions are to pay bills via…

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Visa and MasterCard Report Rising Payment Volumes

March 22, 2012

Visa and MasterCard both experienced increases in their payments volumes last month. Visa’s total U.S. payments volume increased by 10 percent in February compared with February 2011, while the gross dollar volume of U.S. transactions that were processed by MasterCard increased by 14 percent for the quarter through February. Meanwhile, Visa reported that credit and…

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ECS offers Kount fraud prevention and detection to customers

February 22, 2012

Kount delivers an all-in-one fraud and risk management solution for companies that have card-not-present environments looking to simplify their fraud/risk operations while dramatically improving bottom line results. Kount provides a single, turnkey fraud solution that is easy-to-implement and easy-to-use. Kount’s proprietary technology has reviewed hundreds of millions of transactions and provides maximum protection for some…

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ECS offers Retail Fraud Manager® to customers

February 21, 2012

To spot fraud, retailers have long relied on the unmatched depth and breadth of data, powerful analytics and exclusive data-linking technology available through LexisNexis®. Now, those advantages are rolled into a robust, highly accessible fraud management solution known as LexisNexis® Retail Fraud Manager.  Using advanced workflow automation capabilities, Retail Fraud Manager connects leading fraud detection…

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Now selling Paycloud, the only mobile wallet application that extends your gift and loyalty card program

February 20, 2012

ECS is now offering SparkBase’s Paycloud mobile wallet and loyalty application. This program launched recently with more than 3,000 merchants. Paycloud transforms iPhones and Android smartphones into mobile wallets that enable loyalty rewards and deliver merchant coupons and promotions directly to the consumer’s phone. The Paycloud is the first mobile wallet that integrates with merchants’…

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IRS delays Penalties Provisions and Withholding for non-TIN matching merchants

February 1, 2012

In response to complaints about problems implementing a new federal law requiring acquirers to report merchants’ electronic payment transactions, the Internal Revenue Service delayed the penalty provisions and withholding requirements for a year, until Jan. 1, 2013. All acquirers are still required to file the 1099-K reporting form by the end of the year. Beginning…

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