Insights
ECS offers Kount fraud prevention and detection to customers
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...
ECS offers Retail Fraud Manager® to customers
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...
Now selling Paycloud, the only mobile wallet application that extends your gift and loyalty card program
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...
IRS delays Penalties Provisions and Withholding for non-TIN matching merchants
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....
Durbin Amendment Debit Fees Hurt Small Merchants
Retailers are taking other steps to protect their profit margins from swipe fees. For instance, a Georgia coffee shop will sell customers $5 gift cards and deduct the value of their purchases from their cards, or will open tabs for customers who plan to stay for an...
Durbin Amendment in effect 10/1/11 capping debit interchange rates. Banks and merchants respond by increasing customer fees
On June 29, 2011, the Fed announced the final regulation on the Durbin Amendment which went into effect on October 1, 2011. This final regulation caps interchange fees at $.21 per transaction plus 5 basis points for both PIN based and signature debit transactions for...
Holiday Online Purchases
The strong increases in online payment transactions noticed by merchant acquirers and others in November continued through the entire holiday shopping season, according to recently released data. Leading e-commerce acquirer First Data reported on Thursday (1/5/2012)...
PCI Compliance is working
The 7-year-old Payment Card Industry data-security standard (PCI) is proving its effectiveness in preventing data breaches among small merchants, according to a survey of payments-industry acquirers set to be released next week. The survey, cosponsored by ControlScan...
Effects of Durbin Amendment
Debit cards will remain popular with consumers, but the Durbin Amendment will take as much as three percentage points off its annual growth rate over the next five years, according to a new analysis from First Annapolis Consulting Inc. Some transactions that might...
ACH Payments grow
The financially struggling U.S. Postal Service is bemoaning the accelerating shift by consumers away from sending everything from Christmas cards to bill payments by physical mail. But, on the other side of the coin, new data confirm that the automated clearing house...
Investments grow in remote deposit and person-to-person payments on mobile devices
Transactional services such as remote deposit capture (RDC) and mobile person-to-person (P2P) payments will account for the majority of mobile investment in 2012 by financial institutions, according to a survey released today that was conducted by Forrester Research...
Apriva Enters The Mobile Wallet Arena
Apriva has launched Apriva Wallet, an m-commerce platform for its network of independent sales organizations and merchant acquirers that enables consumers to make payments via Android and iPhone devices. Apriva Wallet is available for download at any participating...
Google Wallet now available through ECS
The mobile revolution continues to grow exponentially. Millions of Americans no longer need their leather wallets with Google Wallet—a mobile app that securely stores credit cards, offers, gift cards and more on your mobile phone. This virtual wallet is changing the...
Head of Consumer Financial Protection Bureau Named
President Barack Obama has used his recess appointment powers to install Richard Cordray as head of the new Consumer Financial Protection Bureau (CFPB), effectively enabling the agency to monitor payday lenders, credit bureaus, and utilize all of the powers given to...
The U.S. and EMV
The United States is the last substantial market to resist widespread adoption of the EMV chip and pin standard, but over the past year, the outlook for EMV has improved significantly, with backing from Visa, and to some extent, MasterCard. That’s caused Gemalto, a...
What is EMV?
EMV® is a global standard for credit and debit payment cards based on chip card technology. As of Q3 2011, there were more than 1.34 billion EMV compliant chip-based payment cards in use worldwide. EMV chip-based payment cards, also known as smart cards, contain an...
ATMs and the ADA
The United States Department of Justice published its revised rules implementing the Americans with Disabilities Act. Official publication is one of the last steps on a very long road leading to new ADA regulations for both public and private entities on a diverse set...
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