January 6, 2017
• The Electronic Transactions Association announced its 2017 board of directors and officers, including Jeff Sloan, CEO of merchant processor Global Payments Inc., as chairman and president. An Apple Inc. executive also is serving a two-year term on the board—Eric Hoffman, director of Internet software and services.
• The Federal Trade Commission is challenging the public "to create an innovative tool" for protecting consumers from security vulnerabilities in the software of home devices connected to the Internet of Things. The agency is offering a cash prize of up to $25,000 for the best technical solution, with up to $3,000 available for up to three honorable-mention winners. Payments executives already are worrying about the security of the IoT.
• PAID Inc. and emergeIT announced they have merged to form ShipTime, which offers digital payments and e-commerce shopping carts.
• Processor Fiserv Inc. said Caribbean Integrated Financial Services, the national debit network in Barbados, now uses the latest version of POSH, a payments switch that supports EMV transactions on a PCI-compliant platform.
• Mobile-authentication company Payfone received $23.5 million in a Series E round of venture funding, led by Blue Cross Blue Shield Venture Partners and Andrew Prozes, former global chief executive of LexisNexis. Prozes and Mike Spadafore, an executive with Sandbox Industries who is acting on behalf of Blue Cross Blue Shield Venture Partners, joinied Payfone's board.
• Merchant processor JetPay Corp. appointed Vincent S. Breault president of sales of its payment processing segment. Breault comes to JetPay from processor Elavon, a unit of U.S. Bank.
• The Federal Reserve Bank of San Francisco appointed Steven W. Streit, founder and CEO of prepaid card provider Green Dot Corp., to a three-year term on the board of directors of its Los Angeles branch.
• Virtual Piggy Inc. appointed consultant Bob Marino to the post of senior advisor to help develop partnerships with financial institutions that would promote the company's OINK payment platform, aimed at youngsters 17 and under.
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