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IndustryUpdate
NBP opt-in a winner million in financing mainly from GSV Capital. The PayNearMe service,
which allows consumers to pay bills, rent, repay loans, buy tickets and make
National Benefit Programs, which online purchases with cash, is available in over 17,000 retail locations, includ-
partners with ISOs and payment ing 7-Eleven stores. PayNearMe said it has tripled its payment volume in the
processors to offer merchants dis- last year by expanding into rent, utility and auto lending payments.
counts on business products and
services, analyzed data from thou- RILA pens letter to senate subcommittee
sands of small business owners it
served during 2013. NBP found The Retail Industry Leaders Association, which advocates for over 200
that only 4.2 percent of merchants retailers, product manufacturers and service suppliers, submitted a let-
opted out of its program when a ter for the record ahead of the subcommittee hearing titled Safeguarding
30-day trial period was offered to
them, and that 80 percent of mer-
chants who opted in continued to
participate, paying a monthly fee
when the trial period was over.
NFC Forum joins with SD
Association
The NFC Forum, a nonprofit trade
association dedicated to advance-
ment of near field communication
(NFC) technology, signed a formal
memorandum of understanding
with the SD Association, a global
association of technology compa-
nies charged with setting interoper-
able secure digital (SD) standards,
to collaborate on educating constit-
uents and building the framework
for an NFC ecosystem among users
of smartSD memory cards.
PCI's Leach testifies at hearing
On Feb. 3, 2014, Troy Leach, Chief
Technology Officer at the PCI
Security Standards Council (PCI
SSC), testified at the Safeguarding
Consumers' Financial Data hear-
ing held before the U.S. Senate
Subcommittee on National
Security and International Trade
and Finance. Leach covered topics
including data security best practic-
es and regulations, and the migra-
tion of the U.S. payments ecosystem
to the Europay/MasterCard/Visa
chip card standard. "We welcomed
this opportunity to talk about the
work we are doing globally to cre-
ate standards and resources that
help businesses take a multilayered
approach to securing their custom-
ers' card data," Leach said.
PayNearMe raises $20 million
Electronic cash transaction network
operator PayNearMe secured $20
23
NBP opt-in a winner million in financing mainly from GSV Capital. The PayNearMe service,
which allows consumers to pay bills, rent, repay loans, buy tickets and make
National Benefit Programs, which online purchases with cash, is available in over 17,000 retail locations, includ-
partners with ISOs and payment ing 7-Eleven stores. PayNearMe said it has tripled its payment volume in the
processors to offer merchants dis- last year by expanding into rent, utility and auto lending payments.
counts on business products and
services, analyzed data from thou- RILA pens letter to senate subcommittee
sands of small business owners it
served during 2013. NBP found The Retail Industry Leaders Association, which advocates for over 200
that only 4.2 percent of merchants retailers, product manufacturers and service suppliers, submitted a let-
opted out of its program when a ter for the record ahead of the subcommittee hearing titled Safeguarding
30-day trial period was offered to
them, and that 80 percent of mer-
chants who opted in continued to
participate, paying a monthly fee
when the trial period was over.
NFC Forum joins with SD
Association
The NFC Forum, a nonprofit trade
association dedicated to advance-
ment of near field communication
(NFC) technology, signed a formal
memorandum of understanding
with the SD Association, a global
association of technology compa-
nies charged with setting interoper-
able secure digital (SD) standards,
to collaborate on educating constit-
uents and building the framework
for an NFC ecosystem among users
of smartSD memory cards.
PCI's Leach testifies at hearing
On Feb. 3, 2014, Troy Leach, Chief
Technology Officer at the PCI
Security Standards Council (PCI
SSC), testified at the Safeguarding
Consumers' Financial Data hear-
ing held before the U.S. Senate
Subcommittee on National
Security and International Trade
and Finance. Leach covered topics
including data security best practic-
es and regulations, and the migra-
tion of the U.S. payments ecosystem
to the Europay/MasterCard/Visa
chip card standard. "We welcomed
this opportunity to talk about the
work we are doing globally to cre-
ate standards and resources that
help businesses take a multilayered
approach to securing their custom-
ers' card data," Leach said.
PayNearMe raises $20 million
Electronic cash transaction network
operator PayNearMe secured $20
23
