Credit card usage in Kuwait grew at a compound annual growth rate (CAGR) of 12.02% between 2009-2013, driven by the increased installation of point of sale (POS) terminals in merchant outlets and Improved banking infrastructure.
Florida-based EverBank has partnered with FIS to provide FIS People Pay to its customers. The P2P payment service eliminates funding risks as all transactions instantly debit funds from a sender’s account.
Outsourcing vault cash services to a third-party provider is a growing trend with ATM ISOs and IADs. Elan adds more ATMs with a new deal.
Nordstrom online opts for 3Delta Systems CardVault tokenization and card processing services. Nordstrom will have capability to further secure customer credit card payments without the sensitive cardholder information entering their systems or databases.
BitPay is moving to a larger office to meet the explosive increase in demand. BitPay has added more expertise to its staff with Timo Dijkstra as Compliance Specialist. Timo previously worked as a Senior Compliance and Risk Consultant for PriceWaterhouseCoopers and has a Corporate Law degree from the University of Utrecht. BitPay has also added Walter Drieënhuizen and Niels Kerstholt as Sales Associates, and Carla Jagger as the Office Manager. Walter has previously worked at DocData, and Niels is a three time Olympian and world shorttrack speed skating 2014 relay champion. Worldwide, BitPay has grown to 75 full-time employees with 5 offices in Atlanta, Amsterdam, San Francisco, Buenos Aires, and St. Petersburg.
Bank Mandiri launched Mandiri Mobile POS, in collaboration with goSwiff and its local partner Indopay. mPOS answers to the needs of Mandiri’s customers for security, convenience and reliability in card transactions with Visa and MasterCard. Leveraging goSwiff’s mobile commerce and marketing experience, the new mPOS solution helps Bank Mandiri to bring more payment alternatives to Indonesian merchants and consumers. Indonesian government is encouraging a cashless society by reducing cash transactions, and Mandiri Mobile POS provides one channel for that. The payment on the spot prevents any card misuse by unauthorized parties. Bank Mandiri’s initial pilot to test the mPOS integration with service ordering system was done with Holycow Steak by Chef Afit.
Gemalto introduces its Allynis Trusted Services Hub turnkey business service that enables financial institutions, enterprises, transport operators and more generally all digital service providers to benefit from a single connection in order to securely deploy their value-added and mobile payment services across a comprehensive portfolio of smartphones and mobile networks around the world. Through Gemalto’s Allynis Trusted Services Hub customers get a one-stop and immediate access to the largest user base using NFC smartphones already equipped with Secure Elements. Over 1.5 billion mobile users worldwide are covered by Gemalto-contracted Trusted Services Management (TSM) platforms, with over a hundred million high-end “multi-tenant” SIM cards already in place to protect and manage sensitive application credentials.
Pre-tax profits among the nation’s top four bank credit card issuers increased 2.2% in the second quarter (Q2/14), compared to one year ago. Sequentially net income rose by 2.7%, according to CardData.
NYC-based ISIS, a joint venture between AT&T Mobility, T-Mobile and Verizon, has decided to change its name to SoftCard to avoid confusion and association with a violent Islamic militant group in the Middle East whose name, when translated into English, is known by the same acronym. The intention to change the name was announced in July and decision to use Softcard was announced this week.
Phishing attacks against the users of Bitcoin sites, notably wallet service Blockchain and the exchange site Coinbase rose in Q2/14. Payoneer’s prepaid MasterCard debit cards have also been heavily attacked.
Google Wallet adds prepaid card functionality by teaming with Blackhawk. Google Wallet users will be able to take a picture of their prepaid cards using their phone’s camera.
The CurrentC Network is a software-based solution that works with most existing point-of-sale and payment terminals. CurrentC will utilize a secure paycode and will not require additional hardware from most customers or merchants.