03/15/2011 • CardFlash® - Payment Card Industry News

Mobile Payment Users to Surpass 375 Million by 2015

2, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

With banks such as US Bank and Regions introducing expanded mobile phone
payment and banking options, advancements in this market are
ever-expanding. This year, it is being projected the m-payment audience
will move from that of margin to more mainstream from about 116 million
to over 375 million by 2015. The sector is growing rapidly, with some accounts
indicating the number
of active users of mobile money services predicted to double in the next
two years, exceeding 200 million by
2013. Nearly 40% of active users in 2015 will be in the Africa&
Middle East region.
These findings are according to research
from In-Stat, which discloses the importance of such factors as growing
smartphone penetration; consumer comfort level; a desire to develop
opportunities to generate revenue from mobile based commerce; and
infrastructural developments supporting contactless payments.

U.S. Bank Expands mBanking Features

3, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

U.S. Bank has launched its latest series of mobile banking enhancements, allowing users to use their mobile device to deposit checks, monitor credit card activity and conduct person-to-person payments. To deposit checks into their checking or savings accounts right from their mobile device, users just need to take a photo of the front and back of the check, enter the dollar amount of the deposit, select the checking or savings account into which the money should be deposited and validate the information that was submitted, after which the paper check can be destroyed. Meanwhile, customers can now keep a closer eye on their credit card accounts via their mobile device by taking advantage of free, customizable, real-time text or email alerts, including suspicious activity alerts that warn of possible fraud. This informs customers if their credit card has been used for an ATM cash withdrawal, to make international purchases or for transactions where the card was not present.

Smart Card Alliance Conference Focuses on EMV and Secure ID

4, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

The Smart Card Alliance’ theme of its 2011 Annual Conference will be “The Roadmap to EMV Payments and Secure ID.” Attendees will participate in presentations and discussions on the advancement and growing adoption of smart card technology in EMV, contactless and mobile payments, and secure identification. The conference will be held May 3rd through May 5th, with pre-conference workshops on May 2nd, at the Hyatt Regency McCormick Place in Chicago. The Conference will allow professionals in the payments and security markets to gather together to share use cases and best practices, meet vendors in the large exhibit hall, witness live demonstrations, network with industry peers, and more.

Wells Fargo Reports Remittance Transactions Up 43%

5, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

Wells Fargo & Company announced record growth for its Global Remittance Services business, with transaction volume growth of 43% and dollar value growth of 41% from 2009 to 2010. Total value remitted in 2010 totaled more than $1.41 billion to 15 countries. The number of customers using the service increased 41% from 2009 to 2010. During fourth quarter 2010, overall remittance transaction volume growth was 43% over fourth quarter 2009 and total dollar value remitted growth was 49%. Wachovia financial centers that converted to Wells Fargo stores drove 31% of the total dollar growth during the fourth quarter of 2010. The Wells Fargo distribution includes over 27,000 remittance payout locations with 26 remittance network companies in 15 countries, including: Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic, Colombia, Ecuador, Peru, Bolivia, Argentina, the Philippines, India, Vietnam and China.

PaymentOne Expands Global Coverage

6, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

PaymentOne mobile payments and carrier billing has made available its “AnyPhone” carrier-based billing service in 67 countries. The “AnyPhone Network” now reaches over 3 billion consumers, and allows them to simply charge purchases to their mobile phone, home phone and/or broadband/ISP account. Consumers pay in their own currency and their own language without the need of a credit card, and merchants and publishers can receive their funds in one consolidated settlement without the need to convert currencies, study international tax laws or speak multiple languages. By 2014 mobile payment transactions is projected to exceed $1 trillion.

IronKey Addresses Federal Cyber Security Leaders

7, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

IronKey Founder and Chairman will address federal cyber security leaders and their counterparts in the private sector at a Security Innovation Network (SINET) conference this week. The Company joins other executives from the Department of Defense, The Office of the Director of National Intelligence (DNI) and the Department of Homeland Security (DHS) as a featured presenter at the two-day event taking place March 15 – 16, 2011 at Stanford University. The conference is one way the DHS-supported SINET organization works to forge public/private partnerships that accelerate national security innovation in cyberspace. The use of IronKey’s portable storage devices with strong encryption and cloud-based management allows organizations to achieve safe harbor from fines and mandated notification. Its sales in its banking business unit more than doubled every quarter last year.

JPMorgan Chase Commits $5mm to Japan Earthquake Relief

8, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

JPMorgan Chase will commit $5 million to near-term relief and recovery efforts in Japan in the aftermath of its worst earthquake on record, for which it will also match employee contributions. The $5 million will be used to support charitable and relief organizations helping with for the recovery efforts, in addition to the $1.1 million already pledged by JPMorgan Chase Japan. This commitment will assist with efforts such as setting up temporary shelters, offering medical assistance, helping with sanitation and handling the most pressing issues immediately following the disaster. Exact allocations will be determined in the coming weeks following a full assessment of the earthquake’s damage and the country’s needs.

Caribbean Casino and Gaming Launches New Models

8, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

Caribbean Casino and Gaming “Gamebase” is now available with new looks, models with different designs, hardware, accessories and applications. Models range from a Basic version for lottery betting stands, to a fully loaded version for casinos with a much more elaborate finish and a more esthetic look. The prices for these units range from USD$2,995.00 for the basic, up to USD$9,995.00 for the fully loaded casino version. The model will be built for the needs of each buyer, upgrades in applications and accessories such as bigger screen, credit card acceptor, processor speed, speakers, outer shell, live dealer games, slots, lottery sales and many other features will be available. With this any company purchasing the Gamebase ® for their business will be able to adapt it to the needs they have, and at a price they can afford.

American Express Contributes $100,000 to Japan Earthquake Relief

8, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

American Express Company will donate $100,000 to the Red Cross and Save the Children to support relief efforts, for which the Company will also match employee donations for relief efforts. American Express will rebate the merchant discount rate for charitable contributions made on the American Express Card directly to the U.S. entity of non-profit organizations listed on the USAID website for Japan earthquake and tsunami relief. The rebate is effective retroactively from March 11 through May 15, 2011.

Western Union Donates to Earthquake Relief Efforts

8, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

The Western Union Foundation announced a $50,000 contribution to the Mercy Corps international nonprofit organization in support of Peace Winds Japan.The Western Union Company has also set up a special account to enable consumers in the U.S. to support disaster-relief efforts in Japan. Consumers can donate to Mercy Corps by sending a no- fee money transfer using the Western Union “Quick Collect” service (code city: Japan Relief, CO) through a participating Western Union Agent location. Individuals can send up to $5,000 over the next 30 days, concluding April 14, 2011.

AmEx Kicksoff Second Annual Unstaged Event

9, Country, Priority, UNITED STATESBy Robert McKinley 03/15/2011

Duran Duran will kick-off the second year of “Unstaged: An Original Series from American Express” on March 23rd at the Mayan Theatre in Los Angeles, Calif. The 2011 “Unstaged” kick-off performance will be live-streamed at 10:00PM ET / 7:00PM PT at www.YouTube.com/DuranDuranVEVO. American Express, in partnership with VEVO online premium music video and entertainment service and YouTube will provide Duran Duran fans worldwide with access to their “Unstaged” performance, which coincides with the start of the band’s first official tour since 2008. Award-winning filmmaker David Lynch has been enlisted to capture the performance.

Economic Index Keeps Outlook Positive

10, Country, Priority, UNITED KINGDOMBy Robert McKinley 03/15/2011

The Conference Board Leading Economic Index (LEI) for the U.K. increased 0.4% in January, after increasing 0.6% in December and remaining unchanged in November. Five of the seven components made positive contributions to the index in December to now stand at 103.0 (2004=100). The Conference Board LEI for the UK has been on a rising trend since 2Q/09, but its growth has been moderating in recent months. Meanwhile, The Conference Board Coincident Economic Index (CEI) for the U.K., a measure of current economic activity, increased 0.2% in January after remaining unchanged in December and increasing 0.2% in November to now stand at 102.9 (2004 = 100).

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Abdulaziz AIDahmash, Head of Digital Banking & Payments of SABB in Saudi Arabia, will speak at the 10th Annual Middle East Banking Innovation Summit in Dubai on March 1st. pyvnts.com ecommerce payments pic.twitter.com/G2RWUjYnsd

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