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JHA to offer CUs EMV chip for fraud protection

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MONETT, Mo. (7/14/11)--JHA Payment Processing Solutions (PPS), a division of Jack Henry & Associates, will offer Visa-branded Europay, MasterCard, and Visa (EMV) chip-and-signature cards to its credit union customers. The cards, which have gained wide acceptance outside the U.S., contain an embedded microchip that provides enhanced fraud protection. Credit unions serving cardholders who live or travel abroad are the primary market for the EMV chip-and-signature cards. Cardholders will benefit from reduced card-present fraud, and greater convenience and merchant acceptance. The cards also have a magnetic stripe, for use at any traditional card reader in the U.S. The EMV standard was created to define the functional requirements for chip-card and chip-reading terminals. PPS is piloting its first EMV card deployment with Star One CU in Sunnyvale, Calif.

PayLOGICS launches same-day settlement

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ROCKWALL, Texas. (7/14/11)--Users of Aptys Solutions’ PayLOGICS payment platform can now manage and perform same-day settlement (SDS) through the system’s automated clearinghouse (ACH) function, the payments systems network provider announced yesterday. “Financial institutions continue to focus on generating revenue and reducing costs,” said Sean Pennock, president of Aptys Solutions. “In response to industry demand, Aptys developed PayLOGICS from the ground up to include SDS functionality. By continually bridging legacy and emerging payments, we are providing financial institutions a cost-effective and efficient method of managing their payments platforms today and in the future.” In 2010, the Federal Reserve began offering an intraday service for certain debit transaction types, including converted checks, and Internet and telephone transactions. National Automated Clearing House Association is now exploring new options for expanding the SDS functionality within its rules base. Rockwall, Texas-based Aptys Solutions provides financial institutions with a common infrastructure to support payments processing initiatives, including image exchange, ACH processing, wire processing, Federal Reserve messages, in-network exchange payment processing and mobile payments.