September 21 – linked2pay, the platform provider of Bank Centric Payments, has added automated merchant approval and onboarding. This removes a major barrier for acquirers and ISOs by greatly simplifying the option to add ACH and Remote Deposit Capture (RDC) for new or existing card merchants.
Search Results: Payments
September 9 – Even in the internet age, companies still make more than 57 percent of all payments through paper-driven processes and checks, according to a survey by SunTrust Banks, Inc. (NYSE: STI) of middle market and small business executives. Not only can these non-electronic processes have a negative impact on a company’s cash flow and balance sheet, but also they can significantly increase exposure to fraud.
August 16 – Independent ATM owners, banks and credit unions preparing to migrate to EMV chip technology at their ATMs can get important planning information and implementation best practices by attending a U.S. Payments Forumi workshop in Chicago this September. With the first fraud liability shiftii for the ATM industry approaching this October, this timely workshop will provide a non-technical review of the critical components of the EMV implementation process.
August 2 – Early Warning, the industry leader in real-time payments, authentication and risk mitigation, has signed an agreement with Visa to enable person-to-person (P2P) payments on its clearXchange network using U.S.-issued debit cards through the Visa Direct platform.
July 27 – U.S. Bank and accounting software company Sage have announced a new partnership for the benefit of their mutual North American customers. The introduction of AP Optimizer™, built by the bank on the Sage Live accounting platform, marries practical, cost saving information – like the best time to pay bills and the best method for payment – with easy-to-execute action to help U.S. Bank’s business customers maximize cash flow. Users can act on the tool’s recommendations from any computer or mobile device.
July 20 – The EMV Migration Forum has been instrumental in the progress of the U.S. migration to EMV chip technology by providing a forum for essential cooperation and coordination across the whole payments ecosystem, including retailers, card issuers, networks, acquirers, processors, technology providers and industry associations. To provide expanded support for the payments ecosystem, the EMV Migration Forum has announced that it will change its name to the U.S. Payments Forum. The U.S. Payments Forum will continue to support the chip migration while also broadening its focus to other new and emerging payments technologies in the U.S.
By Richard McShirley
The idea of banks being at the center of payments may sound intuitive and even obvious. Yet in reality, most banks have not taken advantage of the critical role they should play in the payments process.
By Michael Scheibach
Even though mobile payment transactions are expected to increase by more than 200 percent in the United States this year, total e-commerce sales in the first quarter represented less than 8 percent of all sales, according to the Department of Commerce. Despite the potential of mobile, in other words, the focus needs to be directed more toward innovations in card technology that offer banks an immediate opportunity to strengthen their position in payments.
The Bank Centric Payments platform provides an easily deployed risk-managed environment for the registration, underwriting and delivery of ACH, RDC and credit card payments through one easy to use, secure, cloud based system. The registration process applies to both merchants using the payment solutions and resellers that represent the bank in the field. This approach is designed for the bank to have the scale for growth with the tools to guard against risk and protect their reputation as well.
Now banks and ISOs can add a secure payments platform (with a 100% white label option in minutes) with the tools and access layers to enable a bank to offer feature-packed payment solutions to ISOs & merchants (SMB and enterprise) in a harmonized fashion. This platform also includes comprehensive administration tools delivered via an intuitive interface and/or a full library of APIs giving the bank a versatile building block approach for payment process automation. In essence, linked2pay’s Bank Centric Payments platform allows merchant service providers to leverage award-winning payment solutions along with an improved process for acquiring, boarding and maintaining merchant relationships alongside gaining a payments technology platform that delivers the control and efficiency needed to scale underwriting, on-boarding and the daily clearing of payment transactions.
Merchants can be provided with one or all of the following payment options: online forms, mobile, email, virtual terminal, phone (IVR), shopping cart checkout and Remote Deposit (RDC) and reap the benefits of simplified deployment and greatly improved reporting.
Security is of paramount importance to linked2pay, our 15 year history of commitment to the controls that secure client data is further demonstrated by our successful completion of the Service Organization Control (SOC 1 Type II) audit. The report serves as a detailed confirmation of our internal controls for processing services, and supports our commitment to meeting regulations, standards, and specific set of criteria as established by a widely recognized and trusted authority.