[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The payment card processing business continues to heat up as BAMS, the top U.S. payments processor, a joint venture between First Data and Bank of America, sets up operations in Canada. Based in Toronto, the new organization will provide a full suite of products and services – ranging from payments and…
Inside Secure completed the agreement with Intel Corporation. INSIDE Secure extended the pre-existing worldwide perpetual license it had with Intel into a broad, royalty-free and fully paid-up license, with INSIDE Secure retaining ownership of most of the related IP assets and rights. It has also transferred to Intel its MicroRead-v5 next-generation NFC hardware and software modem technology currently under development, together with certain related tangible and intangible assets, including certain IP assets. At closing INSIDE Secure received USD 19.2 million in cash from Intel.
Jordan Kuwait Bank (JKB) launched the ICS Banks from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions. JKB replaced many legacy systems, one of which was an in-house system, and twenty five banking satellite systems. The main requirement for the bank was the application of a fully-fledged bank -in- a- box solution that provides a full range of modules and incorporates a flexible group model. JKB has implemented ICS BANKS to offer modern products through the use of the newly applied suite of applications that cover Core Banking, Remittances, Credit Facilities & Risk Groups, Lending, Trade Finance, Treasury & Investment systems and Wealth Management. The bank also deployed other supporting systems such as, ICS BANKS Retail and Corporate IBS (Internet Banking System), Fixed Assets, Provisioning, in addition to BI (Business Intelligence) and Data Warehousing.
Groupement des Cartes Bancaires CB is currently evaluating the use of biometry in payment transactions and is expected to approve a strong authentication standard, defined by Natural Security for use in the CB system. The objective of the authentication method defined by the Natural Security Alliance is to simplify and secure payments. The cardholder simply has to place his or her finger on a biometric reader in store or at an ATM to validate a payment or cash withdrawal. The first CB approval will involve the association of biometry and a chip integrated into a keyfob. Integration of the chip into a micro-SD card of a mobile phone is also being studied. Highly convenient, the user keeps the keyfob or telephone on his or her person, for example in a pocket or handbag, without needing to present it physically to pay or withdraw cash.
Seamless and The PCMS Group have signed a collaborative agreement to further strengthen SEQR’s presence in the UK and the US. The agreement between PCMS and Seamless is a key component for big retailers in the UK and the US waiting to activate SEQR. PCMS is a key point of sales provider for top tier retailers so this he agreement opens up PCMS large client base on both markets. THis partnership sees payment solutions for all devices across their many sales channels.
BlackBerry Limited today announced a new three-year agreement with EnStream LP, a mobile payments joint venture owned by Canadian wireless carriers Bell, Rogers and TELUS, to provide a secure platform that supports transaction services between leading banks and consumers. EnStream will leverage BlackBerry’s proven and reliable infrastructure to enable financial institutions, including Royal Bank of Canada, TD Bank Group, CIBC and Desjardins, and mobile operators to securely provision sensitive payment card credentials into any smartphone capable of near field communication.
Seamless’ SEQR has nailed Sweden big time in a deal with eight trade organizations representing 4,500 business members. The agreement with Butikerna, an organization for small and middle-sized stores within the retail industry in Sweden, is for a frame agreement with Seamless for the mobile payment solution SEQR.
First Data and Wipro Ltd (WIT) outsourcing company forged a strategic partnership to develop, implement and test the First Data VisionPLUS and AccessPLUS suite of software solutions. VisionPLUS is a payment processing solution for financial institutions that enables the issuance and processing of credit, debit, commercial and prepaid cards, as well as consumer loans, loyalty and merchant accounts on a single platform. AccessPLUS, offered with VisionPLUS, is a suite of business process management solutions that drives operational staff efficiency in servicing customers and supports portfolio parameter management. Wipro joins the international ecosystem that enables First Data to bring application support services and innovation to clients using the VisionPLUS and AccessPLUS licensed software solutions.
Rosetta Stone is currently marketing and selling subscriptions and downloads of its software to consumers from Australia, Brazil, the Netherlands, Poland, South Africa and Thailand via localized online stores powered by Digital River.
Discover Financial Services has announced that Walter H. Morris, Jr. has joined the company’s Board of Directors. Having most recently served as a senior managing director of Brock Capital Group since 2010, he retired from Ernst & Young LLP in 2010 where he was a principal. During his 14-year tenure, he provided consulting and advisory services, including fraud investigations, structured finance and real estate finance, to large financial services clients. Prior to joining Ernst & Young LLP, Mr. Morris held executive leadership positions in corporate and international banking, capital markets, mortgage banking and real estate finance. He has served as president and chief executive officer of a large U.S. mortgage bank and senior vice president of a major commercial bank. In July 2010, Mr. Morris was appointed to serve a four-year term on the Board of the Directors of the Federal Home Loan Banks – Office of Finance and is an Audit Committee member.
Green Dot Corporation has named Joshua Goines General Manager of GoBank, Green Dot’s award-winning, FDIC-insured checking account offering and in this position. Joshua will be responsible for GoBank’s overall strategy and operations. He joins Green Dot from PayPal, where he most recently served as Senior Director, Head of Retail Market Development and played an integral role in overseeing the strategy and execution to grow PayPal’s retail offline business. In this role, Mr. Goines and his team quickly scaled PayPal’s retail acceptance network. He also helped launch and manage a series of key industry partnerships, including Discover Financial Services. Prior to PayPal, Mr. Goines served as Chief Financial Officer of Tempo Payments, Inc., a leading company in the decoupled debit card niche that was named top financial services startup by Fast Company and was acquired by Vantiv. While at Tempo, Mr. Goines developed the strategy for the payment industry’s first SaaS solution that enabled customers to cost-effectively offer co-branded payment cards and which received a CODiE Award for Best Open Source Solution.
PayPal launched PassPort to educate and empower small businesses with free tools to expand their global sales. This provides country-specific guidance on seasonal sales peaks, including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees; and customs procedures and taxes.Becoming a global retailer means looking beyond Valentine’s Day, Mother’s Day and Black Friday as peak selling days and addressing country-specific sales opportunities. Businesses using PassPort will gain insight into the traditions, trends and taboos surrounding Singles Day – the November 11 Chinese holiday that dwarfs Black Friday in ecommerce revenue and is “expected to easily exceed US$10 billion” this year, according to a USDA report. Information on additional top global retail holidays – like Golden Week in Japan and Click Frenzy in Australia – will prepare businesses to expand their sales and reach more potential customers.