35 Organizations Reselling Roam Data Mobile Service
PaymentsSource | Monday, April 19, 2010
Interest in Roam Data Inc.'s mobile-payment service appears to be high among independent sales organizations. Most of Roam Data's 35 resellers are ISOs, says Will Graylin, founder and CEO of Boston-based Roam Data
Roam Data also has agreements with Atlanta-based First Data Corp., Dallas-based Chase Paymentech LLC and Palm Desert (Calif.) National Bank, among others. First Data and Chase Paymentech resell Roam Data's services under their brand names, Graylin tells PaymentsSource. Graylin would not say how many merchants are using the service.
POS-terminal maker Ingenico SA, a minority investor in Roam Data, demonstrated the RoamPlayer technology at last week's Electronic Transactions Association Annual Meeting and Expo in Las Vegas.
During the conference, Ingenico representatives displayed a card reader, developed by HomeATM ePayment Solutions, that plugs into the audio jack of many smartphones, enabling card-present transactions.
35 Organizations Reselling Roam Data Mobile Service
PaymentsSource | Monday, April 19, 2010
Interest in Roam Data Inc.'s mobile-payment service appears to be high among independent sales organizations. Most of Roam Data's 35 resellers are ISOs, says Will Graylin, founder and CEO of Boston-based Roam Data
Roam Data also has agreements with Atlanta-based First Data Corp., Dallas-based Chase Paymentech LLC and Palm Desert (Calif.) National Bank, among others. First Data and Chase Paymentech resell Roam Data's services under their brand names, Graylin tells PaymentsSource. Graylin would not say how many merchants are using the service.
POS-terminal maker Ingenico SA, a minority investor in Roam Data, demonstrated the RoamPlayer technology at last week's Electronic Transactions Association Annual Meeting and Expo in Las Vegas.
During the conference, Ingenico representatives displayed a card reader, developed by HomeATM ePayment Solutions, that plugs into the audio jack of many smartphones, enabling card-present transactions.
Pivotal Payment Gateway Integrated into HomeATM's PCI Certified Technology for "Card Present" Transactions
Integration of the Pivotal Payment Gateway into HomeATM Devices to Open New Market Segments for Mobile Credit Card Processing
MONTREAL, QUEBEC--(Marketwire - March 29, 2010) - Freeport Capital Inc (CNSX:FAS) announced today that it has finalized an agreement with Pivotal Payments, through its First Equity Strategy LLC subsidiary, to integrate the Pivotal Payments Gateway (PPG) with the hand held HomeATM devices.
The HomeATM devices can now be used with laptops, PCs, and Smartphones to accept swiped credit card payments. This allows First Equity Strategy to establish a presence a specialized markets such as delivery services, tradeshows, direct selling, catalog sales and hospitality services where merchants have traditionally had to accept "card-not-present" transactions. With the PPG now integrated into the HomeATM device, merchant can accept "card present transactions" and benefit from substantial savings in processing fees.
"We are excited to announce this agreement with Pivotal Payments," said President Michael Tasillo. "We expect the integration of the PPG on our HomeATM devices to provide significant benefits to a market segment that has to date limited processing options."
"Pivotal is pleased to be able to provide to First Equity Strategy our robust and low cost payment gateway," said Philip Fayer, president of Pivotal Payments. We are certain it will be significant added value to both First Equity Strategy and the merchants it services.
About Freeport Capital Inc.
Freeport Capital Inc. (CNSX:FAS) provides innovative Internet-based point-of-sale (POS) technology solutions for businesses and consumers worldwide. For more information, please visit www.freeportcap.com.
About Pivotal Payments
Pivotal Payments, a privately held company, is a leading merchant services provider with offices across North America. The company provides a full suite of merchant services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants, and dealerships. Merchant services include credit and debit card processing, electronic check conversion, merchant cash advances, loyalty and gift card programs, as well as terminal management solutions.
First Equity Strategy now delivers a real-time processing device that is accessible Worldwide by customers with access to the Internet or cell phone. The best of industry processing rates at your fingertips with no monthly fee’s.
Easily connect to your Laptop/PC desktop with a USB connection. Cell phone users dials out… easy!!!
Pivotal Payment Gateway Integrated into HomeATM's PCI Certified Technology for "Card Present" Transactions
Integration of the Pivotal Payment Gateway into HomeATM Devices to Open New Market Segments for Mobile Credit Card Processing
MONTREAL, QUEBEC--(Marketwire - March 29, 2010) - Freeport Capital Inc (CNSX:FAS) announced today that it has finalized an agreement with Pivotal Payments, through its First Equity Strategy LLC subsidiary, to integrate the Pivotal Payments Gateway (PPG) with the hand held HomeATM devices.
The HomeATM devices can now be used with laptops, PCs, and Smartphones to accept swiped credit card payments. This allows First Equity Strategy to establish a presence a specialized markets such as delivery services, tradeshows, direct selling, catalog sales and hospitality services where merchants have traditionally had to accept "card-not-present" transactions. With the PPG now integrated into the HomeATM device, merchant can accept "card present transactions" and benefit from substantial savings in processing fees.
"We are excited to announce this agreement with Pivotal Payments," said President Michael Tasillo. "We expect the integration of the PPG on our HomeATM devices to provide significant benefits to a market segment that has to date limited processing options."
"Pivotal is pleased to be able to provide to First Equity Strategy our robust and low cost payment gateway," said Philip Fayer, president of Pivotal Payments. We are certain it will be significant added value to both First Equity Strategy and the merchants it services.
About Freeport Capital Inc.
Freeport Capital Inc. (CNSX:FAS) provides innovative Internet-based point-of-sale (POS) technology solutions for businesses and consumers worldwide. For more information, please visit www.freeportcap.com.
About Pivotal Payments
Pivotal Payments, a privately held company, is a leading merchant services provider with offices across North America. The company provides a full suite of merchant services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants, and dealerships. Merchant services include credit and debit card processing, electronic check conversion, merchant cash advances, loyalty and gift card programs, as well as terminal management solutions.
First Equity Strategy now delivers a real-time processing device that is accessible Worldwide by customers with access to the Internet or cell phone. The best of industry processing rates at your fingertips with no monthly fee’s.
Easily connect to your Laptop/PC desktop with a USB connection. Cell phone users dials out… easy!!!
eWeek Europe reports on the newly released IC3 report which revealed that online fraud in 2009 spiked to more than half a billion dollars, more than doubling the total losses of 2008. There is a solution. The world's only PCI 2.0 Certified PIN Entry Device designed specifically for online banking and eCommerce transactions. I'm waiting on the US numbers, but the UK numbers are in:
Using simple deductive reasoning, we can logically conclude that almost 87% of the problem (Card Not Present Fraud) can be instantly eliminated by swiping vs. typing. So, what are we waiting for?
A new report from the Internet Crime Complaint Centre found the amount of losses from cyber-crime doubled in 2009, with those between the ages of 30-49 hardest hit
Last year was a banner year for US, as well as UK cybercrime.
According to figures from the Internet Crime Complaint Centre, online fraud in 2009 cost the American public $559.7 million (£372 million) – more than double the $265 million (£176 million) stolen in 2008. These figures, according to the report, are based on crimes reported to law enforcement, meaning the actual amount could be much greater.
The Internet Crime Complaint Centre (IC3), a partnership between the FBI and the National White Collar Crime Centre (NW3C), released the numbers as part of its 2009 Annual Report about cyber-crime. The group received a total of 336,655 online crime complaints for the year, an increase of more than 20 percent from 2008. The complaints covered a lot of ground, including email scams that used the FBI’s name – the largest category of complaints IC3 received - as well as scams involving the non-delivery of merchandise and/or payment.
Late last year, IC3 released a warning from the FBI that malware and phishing schemes targeting online bankers had led to a significant increase in Automated Clearing House (ACH) fraud. The scams were claiming many small and midsize businesses among their victims, as well as court systems, schools and other public institutions, authorities said.
“The figures contained in this report indicate that criminals are continuing to take full advantage of the anonymity afforded them by the Internet,” NW3C director, Donald Brackman said in a statement. “They are also developing increasingly sophisticated means of defrauding unsuspecting consumers. Internet crime is evolving in ways we couldn’t have imagined just five years ago.”
Internet Retailers Can Only Wish Visa would Charge Them "Swipe Fees"
CNN Politics published an article about 15 minutes ago which reports that more and more merchants are "up in arms" about Swipe Fees.
Swipe Fees are a cost of doing business. If you don't like them, you can refuse to take Visa/MC cards.
Personally, I think they should focus more on why Visa has been pushing (with rewards) signature debit cards over the 12.5 times more secure PIN Debit cards. That fact alone robs merchants of millions of dollars annually.
PIN Debit rates are SIGNIFICANTLY LOWER, because they are SIGNIFICANTLY MORE SECURE. If you own a retail brick and mortar establishment, steer your customers towards the PIN Debit option. Not only will it save you more on Interchange, it will virtually eliminate charge-backs.
Of course, if you are an Internet Retailer, then you are SOL. Wouldn't it be "GREAT" just to be able to pay "Swipe Fee's?
Internet Retailers "would probably maim" simply to have have the "right" to pay "Swipe Fees." They would "kill" for the right to pay PIN Debit fees.
But alas, Visa won't allow "Swipe Fees" for online transactions because they make way too much money on Non-Swiped "Card Not Present" Fees.
Remember...
The MORE SECURE the transaction, the LOWER the FEE.
The "LESS SECURE" the transaction, the HIGHER the FEE.
Visa, MasterCard, American Express, Discover and JCB evaluated HomeATM's eCommerce based PIN Entry device. The stringent evaluation resulted in the first-ever (and still to this day, world's only) PCI 2.0 Certified PIN Entry Device.
Yet, here we are, almost a year later, and there is no PIN Debit Interchange Rate for Internet-based transactions. Worse yet, there isn't even a "card present" rate.
Internet Retailers could ask the logical question: Why can't we process a more secure transaction when these insecure one's are costing us millions while making you millions? It ain't right...
Put another way: "How can Visa, MasterCard, Discover, American Express and JCB evaluate and then PCI 2.0 Certify a PIN Entry Device designed for eCommerce use, and then not offer "card present" and "PIN Debit" rates on transactions conducted via that same device?
HomeATM made history. We not only created the first eCommerce PCI Certified PED, it's apparently the first ever certified PED in history that cannot *conduct "card present" OR "PIN Debit" transactions. (*denotes sarcasm) Wonder what it WAS certified to be able to do?*
When you consider that PIN Debit is preferred by both merchants and consumers alike, then add the fact that (at least in the UK) "card not present" fraud consists of 87% of the total fraud committed, you have to wonderwhy Visa is keeping "card present" and "PIN Debit" transactions off the web. UK "Card Not Present" Fraud Responsible for 86.6% of Total
ESPECIALLY in light of the fact that their solution to securing an online transaction is to keep the card not present and just typing more numbers into boxes in browsers. No wonder Verified by Visa, was recently exposed as a "Textbook Example of How Not to Authenticate a card user." Verified by Visa: "Textbook Example of How NOT to Design an Authentication Protocol"
Visa can charge significantly higher fees when the card is not swiped thus the Internet is a cash cow for them. Allowing for Swipe Fees would be taking money out of their pocket.
Unlike the brick and mortar world, where some merchants feel they should have the right to "negotiate" Swipe Fees, Internet Retailers cannot even "negotiate" the right to pay "Swipe Fees"
One could argue that eMerchants are prevented by Visa...or at least "excluded" ...from being able to conduct a "more secure/card present transaction."
You would think that would fall under one of those "inalienable right" thingamajobbers. Now if there "wasn't" a PCI 2.0 Certified PIN Entry Device in the marketplace, it would be a different story. But there is. So why then, are Internet Retailers forced to conduct "card NOT present" transactions. They can conduct transactions in the same manner conducted by brick and mortar retailers. Have the customer swipe their card and have the customer enter their PIN at the Point of Sale. The only difference is that the Point of Sale is the consumers home instead of the retailers rental location.
Meanwhile, fraud skyrockets and Visa's own security product is exposed as a sham. "Card Not Present" fraud costs billions of dollars per year, yet Visa want's it to remain the SNAFU status quo. (in order to rake in millions of dollars at the expense of merchants and consumers.) Sounds like Internet Retailers would have a better chance of winning a war against the Dynamic Duopoly fighting for CP vs. CNP than the brick and mortar merchants have with their "right to negotiate" stance.
From CNN:
STORY HIGHLIGHTS
Merchants pay "swipe fee" when customers use MasterCard, Visa
Swipe fees brought in somewhere between $38 billion to $46 billion in 2008
Credit card industry says the fees are appropriate because of services they provide
Unclear whether restricting fees would mean lower prices for consumers
Two Videos, one defending and one taking a swipe at fees.
Read the Article in Full at CNN Politics by clicking the headline below:
"The merchants are getting ripped off, it's that simple. There's monopoly power with Visa, MasterCard. They have over 70 percent of the transactions," said Rep. Peter Welch, D-Vermont, who is pushing for congressional action on the issue.
Find out how our patented technology can empower your financial institution.
Our secure two-factor online banking authentication eliminates dangerous passwords and usernames and replicates the same trusted process used to access cash at ATM's. (Insert Bank Issued Card, Enter Bank Issued PIN)
There is an R.O.I. as FI's also earn recurring revenue from each transaction conducted using our PCI 2.0 Certified PIN Entry Device. Our technology also provides a unique real-time P2P "Instant-Transfer" which allows your online banking customer to transfer cash from ANY of their bankcards to ANY other bankcard...with the Swipe of a card.
Help your bank eliminate phishing and your customers avoid identity theft by providing them with the ability to stop typing and start swiping. There is no safer way to conduct financial transactions online than by 3DES DUKPT encrypting the cardholder details, which we do at the mag-head "inside the box/outside the browser."
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