October defaults are nearing four year lows while the Fitch Credit Card Chargeoff Index broke below the 8% mark during the October. Dropping 89 basis points (bps), retail defaults stood at 7.78%, levels last observed in February 2008 and remaining 33% lower year over year. Meanwhile, late stage delinquencies snapped a seven month improvement streak…
Intel Corporation and MasterCard forged a multi-year strategic collaboration to further enhance the security and consumer payment experience for online shopping. Combining MasterCard payment processing with Intel silicon innovation and chip-based security, the partnership will provide more options for a safer and simpler checkout process for online merchants and consumers using Ultrabook devices and future generations of Intel-based PCs. Together, the Companies will refine MasterCard’s “PayPass” and Intel “Identity Protection Technology (IPT).” Intel “Identity Protection Technology” implements two-factor authentication and hardware-based display protection for online security against malware.
HID Global and Sony jointly developed contactless smart card reader platform that embeds secure access control capabilities and Near Field Communication (NFC) functionality into laptops and other mobile devices. The platform holds a secure element that stores cryptographic keys which secure the authenticity and integrity of user credentials. It supports widely used contactless technologies for applications ranging from physical access control and identity assurance at the desktop to transit-fare, point-of-sale collection and loyalty programs. The jointly developed NFC global reader platform is the result of a strategic partnership that Sony and HID Global announced last year.
CHARGE Anywhere secure mobile payment and payment gateway solutions announced its “CHARGE Anywhere Payment App” for BlackBerry is now available for download. The CHARGE Anywhere Payment App for BlackBerry offers merchants a secure POS terminal to process cash, check, credit and gift/loyalty, merchants can leverage a BlackBerry and turn it into a fully functional point-of-sale terminal for a more mobile and cost effective solution than traditional legacy terminals. The mobile POS solution for iPhone(TM), BlackBerry®, Android(TM), Windows Mobile®, Java® and Brew(TM) Platforms, allow users to securely process payments in real-time reducing risk and decreasing the scope of PCI-DSS.
MoneyGram International global payment services company filed a certificate of amendment to its Amended and Restated Certificate of Incorporation to effect a 1-for-8 reverse stock split and to proportionately decrease the number of authorized shares of common stock. The reverse stock split is effective as of November 14, 2011, and the common stock will begin trading on a split-adjusted basis on the New York Stock Exchange at the opening of trading on November 15, 2011. Beginning on November 15, 2011, the common stock will trade for 20 trading days under the symbol “MGID” to indicate that the reverse stock split has occurred. Thereafter, MoneyGram’s trading symbol will revert to its original symbol, “MGI.”
FinTech Georgia 2011 is an annual symposium that will showcase some of the leading financial and payment industry executives discussing the future of technology, emerging trends in payments and factors shaping the industry, such as the Dodd Frank/Durbin Amendment. The founder and former chairman of CheckFree Corporation (now Fiserv), will provide this year’s keynote address as he accepts FinTech Georgia’s Lifetime Achievement Award on November 16.
Ingenico payment solutions is launching a friendly contractual voluntary tender offer for all the shares of the company Xiring not currently held by Ingenico. A cash offer of EUR17 per share, this offer is in line with Ingenico’s strategy of expanding into services and increasing the contribution of recurring transaction-based revenue. In 2010, XIRING reported revenue of €20.6 million, roughly half of it recurring, and a restated3 EBITDA margin of 23.6%. The offer is for all XIRING shares not currently held by Ingenico and will be open from November 16 to 29, 2011.
Latvian Interior Ministry selected Oberthur Technologies to provide the electronic secure cards, pre-personalization and related software middleware, for both Latvian residence permits and citizen cards. The Interior Ministry of the Latvia Republic will launch their new electronic identity documents on 2nd of January 2012: the electronic EU residence permits for non-EU citizens residing in Latvia and the electronic ID cards for citizens. The cards supplied by Oberthur Technologies will be produced in polycarbonate raw material.
NICE Systems announced that C3/CustomerContactChannels (C3), a global provider of customer management solutions, is enhancing its recording and quality management systems with NICE Interaction Management and NICE Quality Management, recording and quality management solutions of the NICE SmartCenter Workforce Optimization suite. C3/CustomerContactChannels, a global provider of customer management and business processing services, offers solutions for a variety of industries, including the healthcare, telecommunications, travel, and finance sectors.
HSBC Merchant Services independent cards payment processor won a tender to provide Post Office Ltd with card processing services to its approximate 11,500 branches nationwide. With this, It will provide an extensive range of technology, including virtual terminals for the Post Office website, and process payments from all Post Office branches, including the innovative ‘Post and Go’ self-service kiosks and the entire estate of 13,000 paystation™ bill payment terminals.
Experian signed a three year contract to provide Aldermore Bank its range of credit information, software and analytical services from its consumer and commercial banking portfolio. Experian will support Aldermore Bank’s lending, providing consumer and commercial credit reference information for new business and ongoing customer management. Coupled with Experian’s analytics services, this lets the provider manage risk and lend more efficiently to its customers. Specifically, Aldermore Bank will focus on its front office capability through Experian “Transact” application processing system.
Clear2Pay international technology provider of next generation payment solutions for financial institutions agreed to acquire Level Four Software Holdings. Providing development and test automation solutions for all types of ATM networks, enabling banks and processors to maximise their investments in their retail payments network at high profile customer touch points, Level Four covers the entire test spectrum from the ATM terminal via the host to the ATM developer’s PC. This provides banks and payment processors with a comprehensive solution that minimizes error and down-time and allows for considerable savings in testing man hours and the deployment of new functionality. Subsequently, The Level Four team will be integrated in Clear2Pay’s Open Test Solutions unit and will continue to operate from its existing offices.