M-PAYMENTS Primed to Takeoff M-PAYMENT CONSUMERS Consumer credit card spending was down 6.4% by $4.25 billion to $795.5 billion in January after December, which saw an increase for the first time in 27 months to $799.7 billion, while credit dollar volume (CDV) growth in February was higher than signature or PIN debit for the first…
The new bill “to study the market and appropriate regulatory structure for electronic debit card transactions” and to postpone any regulation by the Federal Reserve Board for at least two years after the passage of the “Debit Interchange Fee Study Act of 2011” is now expected to deprive consumers. Conducted by the Federal Reserve Board,…
American Express is kicking off its “Realize the Potential” integrated marketing campaign to showcase the potential behind its “Membership Rewards” program. With this, AmEx is promoting its credit card points as a “Social Currency” allowing ‘Cardmembers’ to connect to the people, experiences and things and to share items or experiences you redeemed Membership Rewards points. Special weekly offers include a “Flip UltraHD” Video Camera at 50% off the regular Membership Rewards redemption rate. Printed promotions will roll-out in national publications starting mid-March and on aired on television and online come April.
MoneyGram International global money transfers expanded agreement with Societe Generale regarding operations in 85 countries. With this Societe Generale will offer its international retail banking network of 3,800 branches in 37 countries the opportunity to provide MoneyGram money transfer services to customers. The global agreement is an extension of the two companies’ partnership in Albania, Ghana, Russia, Mayotte and Reunion. Societe Generale and MoneyGram will offer customers money transfer services at Societe Generale international retail branches. For those subsidiaries that are not yet offering money transfer services, this agreement will allow MoneyGram to assist the Societe Generale locations in opening revenue streams.
Intuit Financial Services has launched a new Web and mobile banking solution to place a consumer’s most important online financial management capabilities within one click on the home page of a financial institution’s website. This lets users use one secure login to their bank or credit union website to see account information and recent transaction history from virtually any source in the U.S.; save money on products and services they already buy without the hassle of coupons by activating targeted merchant discounts; transfer funds, manage and pay all their bills, and access the “FinanceWorks” solution to see where their money is going to gain control over spending; and implement TurboTax for Online Banking to pre-populate certain bank or share account data into their tax return and then get step-by-step guidance to maximize their refund.
NetWorld Alliance online business-to-business publisher and event producer has launched “Mobile Payments Today” portal for mobile payments. This will focus on mobile payments projects and technology for banking, retail, restaurants, remittance, apps, online gaming and mobile POS. The content is designed to assist organizations in understanding the cost savings and operational benefits promised by mobile payments. Mobile Payments Today will provide blogs, news, videos, white papers, webinars, supplier listings, research, product reviews, and event info. With 3% of small and medium businesses already having implemented mobile payments, 7% will do so in the next 12 months while 16% will by the end of 2012, according to The SMB Group.
Credit Union 24 has selected NitroSecurity’s integrated “NitroView” SIEM, Log Management, Database Activity Monitoring and Application Data Monitoring solutions to strengthen its corporate security strategy and demonstrate compliance with PCI DSS. With nearly half a million locations at major retailers and local merchants, it is the largest credit union-owned POS network in the United States. Counting more than 100,000 national and international ATM locations in its network, the company offers access to the greatest number of surcharge-free ATMs in the country. Credit Union 24 identified policy and procedural alternatives that eliminated much of the need to access PCI DSS “in scope” data for normal operations and still provide the highest level of service and security to its participating credit unions.
Cardo is implementing offerings from Ariba “Procure-to-Pay” to create and enforce an efficient procurement process through which it can not only find opportunities for savings, but convert them to hard-dollar results. The software solution is delivered as a service through the Ariba Commerce Cloud, Ariba Procure-to-Pay provides companies with all of the tools necessary to dynamically manage suppliers, processes, budgets, approvals and payments on a global basis. Using the service. This ultimately lets Cardo maximize its purchasing leverage through compliance to contracts; ensure that spend is authorized prior to commitment; reduce and control the risk of error, abuse and fraud; and provide a clear understanding of commitments and liabilities.
dm-drogerie markt GmbH + Co German-based drugstore has selected and began deploying more than 3,700 Hypercom “Artema Hybrid” payment terminals to its nearly 1,200 retail outlets nationwide. The “Artema Hybrid” features a single slot ‘hybrid’ card reader and secure integrated PIN Pad to accept both magnetic stripe and chip card transactions. It was the first terminal to be certified according to the TA 7.0 chip-card specifications, recently introduced by the Zentraler Kreditausschuss (ZKA) German banking association.
MoneyGram International global money transfer intends to extend its market presence in Malaysia thanks in large part to a recent influx of migrant workers and foreign students. This included a 30% increase in transaction volume in 2010, during which time the global remittance business exceeded USD 400 billion for an increase of 6% over 2009. According to the World Bank, Malaysia currently ranks sixth on the list of top 10 send countries with a remittance outflow of about USD 7 billion annually. This reinforces Malaysia’s key position for MoneyGram as a continuously growing send market within the Asia Pacific region. Facilitating this expansion is its partnership with MayBank.
GlobalPlatform secure chip technology has completed maintenance work on its Card Specification, Configurations and supporting guidelines with the introduction of its v1.0.1 of its UICC Configuration. Deploying GlobalPlatform Card Specification v2.2 within the mobile services sector and managing the delivery of over-the-air services. GlobalPlatform has also updated the Mapping Guideline Configuration, which guide card implementations based on Card Specification v2.1.1 to a GlobalPlatform card compliant to v2.2. Updates have also been made to the Java Card and MULTOS API for GlobalPlatform Card Specification v2.1.1, as well as GlobalPlatform Card Specification v2.2 Amendment A 1.0.1. These documents can be downloaded free from the GlobalPlatform website by any interested party.
Vindicia SaaS billing solutions for digital merchants has entered into a partnership with GlobalCollect to give its customers access to its portfolio of local, international, and alternative payment methods. This strategic cooperation offers Vindicia’s merchants in the digital goods space the opportunity to obtain best of breed billing and subscription services, combined with GlobalCollect’s broad range of popular payment options via its single-interface platform WebCollect.