Thoma Bravo private equity investment firm sold its Digital Insight Corporation digital banking to NCR Corporation. With a ticket price of $1.65 billion, the sale is projected to close in 1Q/14. Digital Insight, formerly Intuit Financial Services, a division of Intuit, Inc., was acquired by Thoma Bravo in August of 2013. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.
China Mobile purchased Fime’s EMV contactless analogue test bench, which will also offer consultancy services and carry out pre-certification vendor handset testing. Advanced secure chip testing and tool provider FIME will provide the test equipment to China Mobile and undergo a period of consultancy in order to support the deployment and continued management of the tool. Pre-certification handset testing will take place at FIME Asia’s laboratory where it will also provide near field communication (NFC) handset certification consultancy, expediting the testing cycle and overall time to market.
AIRTAG mobile shopping solutions collaborated with PayPal to bring new seamless features to the KFC Fast Track mobile wallet. Launched by KFC UK & Ireland and AIRTAG earlier this year, Fast Track enables customers to order and pay in advance for their meals before they arrive at the restaurant. Now, Fast Track users can login and check-out with PayPal making the transaction even faster and easier. Customers can create a Fast Track account using their existing PayPal account details by simply entering their username and password bypassing having to enter personal and bank or card details because, like any PayPal transaction, this information is stored securely within their PayPal account. KFC UK & Ireland chose AIRTAG’s AIRSHOP white label mobile wallet solution to launch Fast Track. Fast Track enables KFC customers to order and pay using the website, web app or mobile wallet from anytime and anywhere.
Monitise has deployed and launched, with regulatory approval, its globally recognised Mobile Money platform with full access for Chinese speakers. ‘Easy TopUp’ offers a simple, secure and convenient real-time mobile service to top up PCCW-HKT pre-paid SIM cards with payment taken direct from their bank account, as opposed to purchasing vouchers from convenience stores. The green light to launch the service follows the granting of regulatory approval by the Hong Kong Monetary Authority and comes as Monitise joined more than 100 British companies accompanying Prime Minister David Cameron in China on a trade mission to secure new business opportunities. The service will be supported by JETCO providing access to a real-time guaranteed source of funds through its payments switching capabilities with member banks. It is based on Monitise’s proven technology platform, which accounts for billions of transactions annually and is already used by millions of consumers around the world.
PAYFONT identity protection appointed Ken Howes, ex Executive Director, Edgar, Dunn & Company, the global payments consultancy and also formerly HSBC Head of Payments; Colin Grannell, former Managing Director of Visa UK Limited; John de Lavis, the US-based former Chief Product Officer at MasterCard and former Chief Operating Officer at Netspend and Metapay, and Belgium-based Erik Van Winkel, former Senior Executive at MasterCard to help drive and deliver Payfont’s go to market strategy. Attracting the above industry heavyweights gives significant credence to Payfont’s potential, following on from its successful patent grants and significant security validation by top cybercrime professionals. This validation includes verification of how significant Payfont is in drastically reducing the risk of identity fraud whilst still providing a very easy experience. Banks and credit card companies are potential initial customers for the new system, although the Payfont team also have sights on bringing its trusted identity system to healthcare, child and vulnerable adult online protection, legal, government and business services.
TIS has further expanded its cloud-based payment transaction platform with a solution for mandate management. For companies with high volumes of debiting authorisations, SEPA poses an especially large challenge. In the future, both existing and new debiting authorisations must be supplemented with SEPA-specific information. This may entail resource-intensive and complex restructuring of mandate management. It must be implemented in a heterogeneous ERP landscape, existing mandates must be reviewed regarding validity under SEPA, and future procedures for obtaining new mandates must be specified, as well as many other aspects. That’s why TIS further expanded its cloud-based payment transactions platform to include mandate management. In doing so, mandate management is completely liberated from the ERP system(s) and bundled in a payment transaction solution that runs as a central process. The TIS Cloud Platform thus enables companies to centralise their mandate management in an audit-proof manner and irrespective of the ERP system(s) used.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having increased the past four consecutive months, the Conference Board Leading Economic Index for the U.S. was up 0.2% in October to 97.5 after a 0.9% increase in September and a 0.7% increase in August. This helps lift the six-month annualized growth rate to 5.1% from 3.7% in the previous six…
Polaris Financial Technology announced that its Payments Hub from its iGTB division received a ‘Best in Class’ recognition for Payments Operations in CEB TowerGroup’s annual Payment Hubs Technology Analysis report, 2013. As a real-time payments solution that minimizes operational risk and improves the Straight Through Processing rate to over 90%, Polaris’ Payments Hub provides superior customer experience though a channel agnostic service layer with the flexibility to configure to meet changing customer needs, regulatory reforms and operational arrangements. With a 360° view of corporate activities related to payments, it offers better risk management, supports centralized control of global payments operations and its robust exception handling process and AML and fraud management capability reduce Exception and Investigation and manpower costs.
Western Union and Better Business Bureau launched BBB Scam Stopper to help consumers reduce their chances of becoming a victim of common scams. In conjunction, the partnership is advising consumers It’s best always to donate to a charity directly after confirming its legitimacy – rather than giving in response to a phone call or by clicking an email link. Never send a money transfer to an individual for a charity. Western Union does accept donations for charities, but the money transfer must be sent to the organization, not to an individual. Never share banking or credit card information with a person or business you don’t actually know. Never click on links to charities on unfamiliar websites or in texts or emails. These may take you to a lookalike website where you will be asked to provide personal financial information or to click on something that downloads harmful malware into your computer.
NCR Corporation announced that it has been awarded professional service contracts from Bank of China to develop new automated teller machine (“ATM”) applications running on the bank’s multivendor software platform, NCR APTRA Edge, to support the bank’s initiative in implementing paperless ATM transaction flow and its Financial Integrated Circuit Card (“IC”) 5.0 project. The Bank of China’s ATM network went live with the NCR APTRA Edge platform last year and most applications on its ATM network have completed the initial phase migration process to be compliant with EMV1 (PBOC 2.02) standards. As part of the project, NCR will provide software application development, system analysis, support services and related training programs. In line with the new market demand for smart cards, Bank of China also is kicking off a Financial IC Card 5.0 project to enhance its IC card product features and business process.
Vivo implemented Gemalto digital security to provide the TSM (Trusted Service Manager) platform, allowing it to offer m-payment products with NFC adding mobility, security and convenience for its users. With the solution in place and together with Gemalto’s UpTeq multi-tenant NFC SIM cards, Vivo will be able to expand its product portfolio for m-payments, offering services to mobile customers including contactless payments, transit ticketing and financial transactions between users of the solution. The development and delivery of financial products and services represents the company’s firm commitment to grow and strengthen its operations beyond connectivity, adding a new option for customers as well as for those who want to start or intensify contact with connectivity technologies.
Lycamobile Group prepaid international calling cards selected WorldPay payment processing, risk and alternative payments, to execute its end-to-end payment services including acquiring, gateway, risk, treasury and alternative payments to support its global payment requirements. Previously, Lycamobile Group used a number of payment providers for acquiring, gateway, risk and treasury but the company chose to consolidate and select a payment partner that could offer the full breadth of services and support the company as it expands globally. WorldPay was selected due to its expertise in e-commerce, its global reach and the range of payment services it can provide. Lycamobile Group’s customer base spans across the Asian, African and South American communities that live abroad and the business has ambitious plans to expand globally, offering more services that will benefit its customer base.