transaction processing

A global provider of ecommerce and payment processing services First Data announced the launch of its eCommerce fraud detection and prevention solution Fraud FlexDetectSM, built in collaboration with Accertify.

The PCI Security Standards Council (PCI SSC) has released separate guidance papers on the use of end-to-end (E2E) encryption and EMV technologies in a payment card data environment. The documents are intended to provide the market with greater clarity on how these two specific technologies relate to the PCI Security Standards and impact PCI DSS compliance.

A provider of high-volume transaction processing solutions Baldwin Hackett & Meeks, Inc. (BHMI) announced that MasterCard Worldwide has selected its Concourse – Transaction Messaging System™ (Concourse – TMS™) as the communications middleware for its high volume international debit card network.

Well Fargo was ordered by a federal judge to pay California consumers $203 million in restitution for claims that it had manipulated transactions to maximize the overdraft fees it charged, reports the New York Times.

A judge in San Francisco found that instead of processing transactions in an order they were received the bank started with largest and went to smallest further. In his 90-page opinion United States District Judge William Alsup wrote that the practice was unfair and deceptive.

A prominent online tycoon Daniel Tzvetkoff has been arrested in Las Vegas this morning on charges that he assisted illegal internet gambling companies by processing approximately $500 million in transactions between U.S. gamblers and internet gambling websites and disguising the transactions to the banks so that they would appear unrelated to gambling.

Mocapay introduced its mobile solution that provides users with secure mobile payments regardless of hardware, tender type and transaction location.

"Our mobile payments platform ensures true anywhere, anytime mobile payments acceptance regardless of where the consumer wants to make a purchase or with which tender type the consumer chooses to use."

Transactions processed via Mocapay's "dynamic cryptogram" technology are executed in a simple and secure way with a one-time use and perishable authorization code.