Tuesday, March 9, 2010

Featured Post: Banks Have a New Troubled Asset..."Their Customers"

Guardian Analytics and Ponemon Institute Study highlights 40 percent of small and medium businesses change banks after a fraud incident



LOS ALTOS, Calif., March 9 /PRNewswire/ -- Guardian Analytics, the innovator in predictive analytics-based fraud prevention software, together with independent research firm, Ponemon Institute, today announced the results of the 2010 Business Banking Trust Study.



Over 500 executives and business owners from small and medium businesses (SMB's) in the United States participated in the study.




The research offers the first comprehensive look into the pervasiveness of fraud, the state of security at banks and SMB's, and the impact of fraud on businesses' relationships with their banks. The results indicate that criminals are successfully attacking SMB bank accounts at an unprecedented rate, banks are failing to proactively catch fraud, and a high percentage of SMBs are firing their banks because they are experiencing fraud.
"Banks have a new troubled asset – their customers," said Terry Austin, CEO, Guardian Analytics.  "The survey data proves that financial institutions are failing to protect the small and medium businesses that are at the heart of our economic recovery.



SMBs are fed up with the banks that are leaving them vulnerable to fraud and not reimbursing them when they are attacked. Banks that do not improve their fraud prevention practices will lose customers and hurt their own recovery."
The 2010 Business Banking Trust Survey sheds light on where security, communication and trust are breaking down between SMB's and their banks, and the destructive impact that fraud has on the SMB-financial institution relationship. It also highlights that customers and banks are out of alignment regarding responsibility for protecting online accounts. Data highlights include:

  • Fraud Attack Rate: 55 percent of businesses reported experiencing fraud in the last 12 months, with 58 percent of fraud enabled by online banking activities.

     

  • Fraud Detection Rate: 80 percent of banks failed to catch fraud before funds were transferred out of their institution.


  • Fraud Loss Recovery: In 87 percent of fraud attacks, the bank was unable to fully recover assets.


  • Fraud Loss Reimbursement: 57 percent of the respondents that have experienced a fraud attack were not fully compensated by their banks. 26 percent were not compensated for any part of their losses.


  • Customer Churn: 40 percent of businesses said have moved their banking activities elsewhere after a fraud incident. 11 percent of businesses that have experienced fraud claimed they have terminated their banking relationship following fraud attacks, and additional 29 percent said they did not fully terminate their relationship, but moved their primary cash management services to another institution.


  • Transparency: 24 percent of businesses claim that their banks do not provide a policy explaining the bank's responsibilities to secure and protect their companies' accounts from fraud. 39 percent are unsure if such a policy exists.

"Ultimately the data points to the need for banks to evolve their definition of reasonable security and proactively invest in process and technology to better protect their online banking customers," said Dr. Larry Ponemon, chairman and founder, Ponemon Institute.



"Only 20 percent of banks were able to identify fraud before money was transferred. The ROI of investing in fraud prevention is clear when you consider how fraud and churn drive productivity and profit loss as well as legal and reputation risks."






The Guardian Analytics 2010 Business Banking Trust Study includes more details on SMB's online banking behavior, their views of banks' security practices, and top five recommendations for banks to retain customers through better security and communication practices. The full report is available for download at www.guardiananalytics.com/newtroubledasset.





Ponemon Institute was commissioned by Guardian Analytics to conduct the survey independently in February 2010. Guardian Analytics protects financial institutions and their customers from online fraud attacks and recently released FraudMAP® for Business Banking, the industry's first solution designed to prevent fraud in online business banking accounts from login to logout.

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About Guardian Analytics

Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's real-time risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Leading financial services institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital. For more information, please visit www.guardiananalytics.com.



About Ponemon Institute

The Ponemon Institute© is dedicated to advancing responsible information and privacy management practices in business and government. To achieve this objective, the Institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organizations in a variety of industries.

SOURCE Guardian Analytics

FDIC: Hackers Took More Than $120M in Three Months



This is the "type" of news we will continue reading until we stop entering/typing passwords and start authenticating ourselves the same way we authenticate ourselves at an ATM or at the Point of Sale in a retail store.  Swipe your Bank Issued Card and Enter Your Bank Issued PIN. .  Why should the internet be any different?  The web inherently makes people think everything should be software-based. NOT financial transactions.   They MUST be conducted "outside the browser space." It's just the way it is.  Extremely sensitive financial information (either online banking credentials or credit/debit card numbers) have no business being entered/typed.  It makes it readily available to hackers.  Why do you think they call it a "browser?"  Various keylogging/malware and phishing attacks have now risen to the tune of $120 million in the 3rd quarter of 2009.  I have a sneaky suspicion that the Q4 numbers will be higher.  If the online banking credentials or cardholder data was encrypted inside a separate machine there wouldn't be anything to obtain.  It would all be gobblygook protected by Derived Unique Key Per Transaction end-to-end encryption.  It's why we have the only PCI certified PED designed for eCommerce financial transactional use.  Don't you believe it's time for a change?

Robert McMillan, IDG News Service



Online banking fraud involving the electronic transfer of funds has been on the rise since 2007 and rose to over US$120 million in the third quarter of 2009, according to estimates presented Friday at the RSA Conference in San Francisco, by David Nelson, an examination specialist with the FDIC.



The FDIC receives a variety of confidential reports from financial institutions, which allow it to generate the estimates, Nelson said.



Almost all of the incidents reported to the FDIC "related to malware on online banking customers' PCs," he said. Typically a victim is tricked into visiting a malicious Web site or downloading a Trojan horse program that gives hackers access to their banking passwords. Money is then transferred out of the account using the Automated Clearing House (ACH) system that banks use to process payments between institutions.



Even though banks now force customers to use several forms of authentication, hackers are still stealing money. "Online banking customers are getting too reliant on authentication and on practicing layers of controls," Nelson said.


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ProfitStars(R) Reports Strong Remote Deposit Capture Growth with Record Transaction Volume

Company Marks New Height with Daily Record of more than 1.25 Million Transactions



MONETT, Mo., March 9 /PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced the continuation of record growth for the Remote Deposit Capture (RDC) solution provided by its ProfitStars division.



RDC is a Web-based electronic payment processing platform that enables businesses to make remote deposits by scanning the checks they receive as payment and converting them into electronic transactions that are processed through the ACH or Check 21 image exchange networks. Jack Henry & Associates sells its RDC solution to financial institutions and other businesses outside the financial services industry that in turn offer it to their merchant and business customers. RDC is an enterprise-wide solution for Jack Henry & Associates that is sold to the core bank clients supported by Jack Henry Banking™, to the core credit union clients supported by Symitar™, and to financial institutions outside the company's core client bases and to other diverse businesses by its ProfitStars division.



Strong industry demand for the best-of-breed solution drove record transaction volume. On January 4, 2010, an all-time daily high was achieved with more than 1.25 million transactions processed, and the overall volume continues to rise. In January, ProfitStars processed more than 14 million RDC transactions and moved approximately $13 billion in funds, representing an increase of 52 percent in transactions processed when compared to the same month in 2009. ProfitStars now supports more than 32,000 businesses in more than 100,000 locations with its RDC solution.



According to David Foss, president of ProfitStars, "The continued record growth that we are experiencing speaks to strong industry demand. ProfitStars is a definitive authority in RDC and we expect continued demand for our comprehensive, industry-leading solutions."



To support its RDC customers and future growth in the industry, ProfitStars will be hosting its 2010 ProfitStars Educational Conference in Las Vegas March 9-12. Industry professionals will convene for thought-leadership discussions and networking about best practices for payment processing, financial performance, retail delivery and more, all to help minimize challenges while maximizing opportunities.



ProfitStars also recently launched an online RDC Knowledge Center to assist customers and prospects with fulfilling aggressive, strategic RDC initiatives. The microsite – http://discover.profitstars.com/remotedepositexpert – is an educational resource for disseminating relevant and timely information to any financial institution wanting to begin, grow, or enhance its RDC offerings while also creating awareness of the breadth and depth of all ProfitStars RDC products and related solutions.



About ProfitStars




ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com.



About Jack Henry & Associates, Inc.



Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.



Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.



SOURCE Jack Henry & Associates, Inc.Back to top RELATED LINKS

http://www.profitstars.com

http://www.jackhenry.com





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StorValue to Launch Fifth Reward-filled Prepaid Card Program, Demonstrating Its Novel, Rapidly Growing Offering

 StorValue Card SolutionsLeading Manager, Distributor of Branded Prepaid Debit Cards Shows Its Lowest-Fee Programs Generate Loyal Cardholders with High Reload Rates, Reward Redemptions




COCONUT CREEK, Fla.--(BUSINESS WIRE)--StorValue™ Card Solutions will soon launch its fifth branded card program, Campus Dough DebitSmart™ Visa® Prepaid Card, filling a void left by the recent Credit CARD Act, which makes it more difficult for students to get credit cards. StorValue teamed with University Parent Media to offer the innovative, reward-filled Campus Dough card to address this issue.



The University Parent card program is on the heels of other recent successful card launches including the EA SPORTS DebitSmart Visa® Prepaid Card, DebitSmart™ Visa® Prepaid Card, MySchoolDebitCard™ Visa® Prepaid Card, and the FuelLinks DebitSmart™ Visa® Prepaid Card Program.



Last year, credit card companies mailed millions of decline letters to credit card applicants due to more stringent underwriting standards. Since then, the Credit CARD Act was passed, requiring consumers less than 21 years old to provide proof of income to repay card loans or have a co-signer. This has left many people – young and old - without a card option, or has forced them into looking at high-fee debit cards with few, if any, benefits. StorValue’s cards are quickly becoming the solution and setting a new standard for what a prepaid debit card should be.



Thomas Borzilleri, CEO of StorValue, said, “For consumers, we have opened their eyes to a whole new way to think about prepaid debit cards – make them work for you with rewards and discounts from tens of thousands of retailers. By offering the lowest available user fees, StorValue is demonstrating that prepaid debit cards can be used to save money and spend responsibly. And, cardholders are beginning to recognize the convenience of virtual banking with StorValue prepaid cards, too.



“For businesses, StorValue has created a novel way to entrench customers across a variety of social and economic demographics. Our card programs’ unmatched benefits, features and high reload rates are appealing to student and young adult, sport, ethnic, middle-market and luxury brands alike because we help them to build loyalty – whether the company is selling insurance or clothing or food,” concluded Borzilleri.



At the same time, the programs provide consumers with security and enable them to use ‘plastic’ to buy online or at the 20 million places where Visa prepaid cards are accepted, while allowing sponsoring businesses and organizations to provide a vital and engaging service to their stakeholders. With a strong track record of performance, StorValue is emerging as the industry leader in providing rewards-based and loyalty-branded card solutions.



With each program, the company collaborates with a brand from concept to activation, creating a seamless ‘end-to-end’ solution to achieve a successful co-branded rewards program through prepaid debit cards. Last fall, StorValue introduced the StorValue Card Design Studio, establishing it as the first prepaid card program manager in the industry to offer card personalization functionality across its entire suite of card products. StorValue cardholders can now customize their card designs with their own personal image or photo. Today, StorValue is the fastest-growing program manager and distributor of Visa and MasterCard® prepaid cards.



The co-branded prepaid cards are reloadable, and funds can be loaded from a payroll direct deposit, checking account or GreenDot and Western Union retail locations nationwide. In addition, the cards are accessible through millions of ATMs worldwide.



About StorValue

StorValue is the country’s fastest-growing program manager and distributor of branded stored value prepaid debit cards. Emerging as the industry leader in providing rewards-based and loyalty-branded card solutions, our programs deliver unmatched benefits, features, and resources to a wide variety of businesses and consumers. StorValue’s cards provide security, convenience, and value-added benefits to cardholders, while allowing sponsoring businesses and organizations to provide a vital and engaging service to their stakeholders. For more information, please visit http://www.storvalue.com or call 877-481-9333 ext 101.





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StorValue, University Parent Media to Launch ‘Campus Dough,’ Reward-filled Prepaid Cards for Students, Filling Void from Credit CARD Act

 StorValue Card Solutions and University Parent MediaNew Debit Card Gives Collegians Shopping, Restaurant Discounts; Parents to Ensure Security, Responsible Spending


COCONUT CREEK, Fla. & BOULDER, Colo.--(BUSINESS WIRE)--University Parent Media™ and StorValue Card Solutions™ are addressing the latest issue on campuses across America: What will students do without a credit card?

The Credit CARD Act, making it more difficult for students under 21 to be issued a credit card, went into effect on February 22, 2010, creating the need for a safe and convenient on-campus spending solution.



A leading resource for parents of students at nearly 120 colleges and universities, University Parent, has teamed with StorValue, the industry leader of co-branded and rewards-based prepaid cards, and issuer MetaBank™, to offer the answer: the Campus Dough DebitSmart™ Visa® Prepaid Card. The reloadable card enables students to receive discounts on purchases at thousands of brick-and-mortar and online retailers – from leading pizza chains and fast-food restaurants to bookstores, coffee shops and downloadable music sites. In addition, students and any family members holding the card will be able to receive prescription discounts at more than 56,000 pharmacies across the country.



The Campus Dough card, which will be available to all university students and their families nationwide, will launch in April. University Parent will detail the cards rewards and features in the coming weeks in print and online University Parent Guides, as well as on Facebook and Twitter.



“Campus Dough is the best way for students to manage money,” explains Sarah Schupp, CEO of University Parent. “With our online tools, Campus Dough will allow students to improve their money management skills, and at the same time earn rewards from merchants and raise funds for their school. With our innovative card, students can take control of their spending and avoid credit card late fees or overdrafts on their checking accounts.”



Through Visa, Campus Dough cardholders will be given online educational information on practical money skills for life and financial literacy geared to university students. In addition, StorValue™ will be implementing an online tool for cardholders to track expenses. All of the spending from the Campus Dough cards will be automatically downloaded into an online program for budget analysis and management for students to track their spending.



Thomas Borzilleri, CEO of StorValue, says, “StorValue helped University Parent to develop an innovative answer to a critical market problem, while further engaging the organization’s stakeholders: parents, college students and the businesses that serve them. We worked to make the program even more valuable by offering one-of-a-kind rewards, customized budget analysis and educational tools. This is a perfect example of how StorValue collaborates with brands like University Parent from concept to activation, creating a seamless ‘end-to-end’ solution to achieve a successful co-branded rewards program through prepaid cards such as Campus Dough.”



The Visa co-branded Campus Dough prepaid card will be reloadable, and funds can be allocated from a payroll direct deposit, checking account or GreenDot and Western Union retail locations nationwide. The Campus Dough DebitSmart Visa Prepaid Card will be used to make purchases at more than 20 million locations where Visa prepaid cards are accepted and have access to millions of ATMs worldwide.

About University Parent Media™


University Parent Media, based in Boulder, Colo., produces print and online guides for parents of students in partnership with 116 universities and colleges in 34 states. Sarah Schupp, then an undergraduate student at the University of Colorado Leeds School of Business entrepreneurship program, founded UPM in 2003.

Each University Parent Guide offers institution-specific information on college orientation, parent programs, admissions, financial planning, health and safety, off-campus housing and much more. Visit www.universityparent.com. Follow on Twitter @4collegeparents and join Facebook fan page at http://www.facebook.com/collegeparents.



About StorValue™


StorValue™ is the country’s fastest-growing program manager and distributor of branded stored value prepaid debit cards. Emerging as the industry leader in providing rewards-based and loyalty-branded card solutions, our programs deliver unmatched benefits, features, and resources to a wide variety of businesses and consumers. StorValue’s™ cards provide security, convenience, and value-added benefits to cardholders, while allowing sponsoring businesses and organizations to provide a vital and engaging service to their stakeholders. For more information, please visit http://www.storvalue.com or call 877-481-9333 ext 101.



About MetaBank™


MetaBank is a federally-chartered savings bank regulated by the Office of Thrift Supervision. Meta Financial Group, Inc.® is the holding company for MetaBank, Meta Payment Systems®, and Meta Trust Company®. For more information visit www.metacash.com.





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ETA to Conduct Investment Community Forum in Las Vegas

Official seal of Las Vegas
Washington, March 8, 2010 -- The Electronic Transactions Association (ETA) will conduct its first-ever Investment Community Forum in conjunction with the association’s Annual Meeting & Expo in Las Vegas, NV, on Tuesday, April 13, 2010.



“The payments business is getting more and more attention from investors of all types and levels, but it is more unique and complex than many other parts of the financial services industry” says ETA’s CEO Carla Balakgie. “At the same time, many executives in our field are not familiar with the investment side of financial services and what those opportunities represent for their company. The Investment Community Forum is designed to bridge that mutual knowledge gap”



Executives from leading payments companies will give investors a thorough grounding in the fundamentals of the industry and provide a look into the dynamics and technologies influencing the future and potential of electronic transactions. And representatives of investment companies already active in the payments business will describe what they believe to be the key opportunities and winning strategies for successful portfolio management in this arena.



The all-day event also will feature a keynote presentation by Collin Roche, Principal, GTCR Golder Rauner, LLC, who will discuss the changing nature of the industry, keys to success, potential pitfalls, and return expectations. GTCR has made successful investment forays in several payments industry companies. A networking lunch is included.



ETA’s Investment Community Forum is open to both investors and to executives from companies of all types in the payments value-chain. For registration or further information, visit www.electran.org .



###



About ETA:


The Electronic Transactions Association is an international trade association representing more than 500 companies who offer electronic transaction processing products and services.



Source: Company press release.





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Visa appoints Elizabeth Buse Group Executive, International

Visa Debit logo
San Francisco, March 8, 2010 -- Visa Inc. (NYSE:V) announced today that Elizabeth Buse has been named Group Executive, International, effective April 1. In this new role, she will oversee Visa's global sales and client service functions across Asia-Pacific and Central Europe, the Middle East and Africa (CEMEA), Visa's fastest growing geographies. Ms. Buse, who previously served as Visa's Global Head of Product, will be based in Singapore and report to John Partridge, President Visa Inc.



In announcing Ms. Buse's appointment Joseph Saunders, Visa's Chairman and Chief Executive Officer said, "Under Elizabeth's leadership, Visa has globalized our e-commerce, money transfer and mobile efforts and delivered customer-centric and value-add information products and services that continue to drive the shift to electronic payments and accelerate our growth around the world. Elizabeth also has been a driving force behind our core debit, prepaid, commercial and credit card businesses and other critical product innovations. Visa will benefit immensely from her drive, strong knowledge of the business and the respect she commands from clients, colleagues and Wall Street alike."



The appointment follows the decision by Rupert Keeley, Group President of Asia Pacific and CEMEA, to leave the company. Under Mr. Keeley's leadership, Visa's business in the Asia Pacific region grew significantly and is positioned for further growth.



"I am very grateful for Rupert's many years of service and his success in building the pre-eminent payments business in Asia Pacific. He leaves behind a sound foundation for Visa's continued expansion in Asia Pacific," said Saunders. "I am confident Elizabeth will continue to build on our success there and will ensure that Visa continues to capitalize on the wealth of potential opportunities that exist across Asia Pacific and in our CEMEA geographies."



About Visa: Visa operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com .



Source: Company press release.



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ProfitStars Conference Educates FIs

Dallas, March 8, 2010 -PIN Debit News Blog- The 2010 ProfitStars Educational Conference offers more than 100 informational sessions for financial institutions to learn and network with peers about best practices, gain updates on the latest profit-enhancing solutions and meet with some of the industry’s leading product experts. Payment processing, financial performance, retail delivery and network performance topics will all be focused on minimizing challenges and maximizing opportunities in today’s marketplace.

Select sessions are eligible for CPE (Continuing Professional Education) credits and/or AAP (Accredited ACH Professional) renewal credits by NACHA, a program that recognizes an individual’s expertise in the field of electronic payments.

ProfitStars provides solutions that improve financial institutions’ performance. The company invites its more than 9,100 customers, including 42 of the top 50 U.S. banks and 29 of the top U.S. credit unions, to convene for thought-leadership seminars and discussions about new issues and profit-enhancing trends. The keynote speaker is Thomas Quaadman, executive director for Reporting Policy and Investor Opportunity at the U.S. Chamber Center for Capital Markets Competitiveness.



Where: The Venetian, Las Vegas

When: March 9 – 12, 2010



Contact: Heather Sugg



About ProfitStars


ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.profitstars.com .



About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar™ is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com .

Source: Company press release.





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Heartland Payment Systems Signs Martin Eagle Oil Company as First SmartLink Customer

http://www.HeartlandPaymentSystems.comNew State-of-the-Art Technology Enables Convenience Store and Petroleum Businesses to Streamline Network Operations and Reduce Telecommunications Costs


PRINCETON, N.J.--(BUSINESS WIRE)--Martin Eagle Oil Company, Inc., a multi-branded marketer of motor fuel products, has selected Heartland Payment Systems’® (NYSE: HPY) new SmartLink® technology to create a consolidated managed network for payment transaction data and back-office information. SmartLink will initially be implemented at 11 Martin Eagle locations with the remaining locations to follow shortly.



Heartland’s SmartLink telecommunications technology consolidates multiple in-store communication lines into one high-speed broadband line. This streamlining of network services enables critical business data to be transmitted quickly over a secure, SSL-encrypted connection. The SmartLink Network delivers first-of-its-kind technology that can transmit both transactional data as well as integral back-office information, allowing convenience and petroleum store owners to spend less time managing their networks ― and more time managing their businesses. The merchant gateway allows merchants to monitor their automatic tank gauge data, in-store environmental control system data and daily back-office data such as email, file sharing and internet usage. The payment gateway allows them to monitor their point-of-sale terminals, money-order terminals, check verification, ATM, fleet card and loyalty card transactions.



With SmartLink, businesses receive a single network-related invoice and can rely on one customer service resource for troubleshooting and network monitoring, reducing in-house support costs and the need for additional IT staff. By consolidating multiple phone lines and telecom providers into one network, SmartLink enhances operational efficiency and reduces the costs typically associated with data communications and networked services.



“The benefits of SmartLink are tremendous. The installation was turnkey and seamless, and our entire network operation has been streamlined to run more efficiently,” said Bill Meek, Martin Eagle Oil’s director of information services. “SmartLink has enabled us to provide our dealer locations with additional value-added services, such as new high-speed payment options. We’re looking forward to implementing SmartLink at the rest of our locations.”



Michael Youngkin, transport and monitoring product manager at Heartland, added, “Heartland is pleased to be working with Martin Eagle Oil as our first SmartLink customer. This ‘one-stop-shop’ managed network service resolves the common industry issue of dealing with multiple telecom providers. It enables convenience store and petroleum business owners to streamline processes, reduce overhead ― and concentrate on making their businesses profitable.”



Through a robust dealer network, Martin Eagle supplies fuel products to hundreds of locations in Texas, Oklahoma, Arkansas and Louisiana. It also operates convenience stores under the Quick Track brand in Texas.



Heartland is one of the largest payments processors in the convenience store and petroleum industry, offering a comprehensive suite of products and services including card processing, gift marketing, prepaid services, check management, payroll services and more. For more information about SmartLink, visit SmartLinkPro.com, call 866.976.1359 or email SmartLinkPro@e-hps.com.





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