MasterCard announced the appointment of Syed Mohammad Kamal as country manager for Bangladesh and Mohammad Anwar Hossain as director, business development to reaffirm its commitment to South Asia. The decision to build a stronger presence locally has come about in part to the rapid development and industrialization the country has been seeing over the last few years and the promise of further growth which could be achieved through a more robust electronic banking and payments system. Kamal will be based in Dhaka and report to Vikas Varma, area head, South Asia, MasterCard Worldwide. He will be tasked with executing MasterCard’s strategy in Bangladesh, working closely with partner financial institutions, merchants and regulators.
Wirecard AG and payleven agreed on a strategic alliance for new mobile payments technologies. payleven’s chip and PIN-card readers are primarily geared to SMEs while this partnership is based on the international expansion of M-POS. Wirecard AG is one of the world’s leading independent providers of outsourcing and white label solutions for electronic payment transactions, and will contribute its core competences to the alliance. This expertise includes both acquiring and also central process stages for mobile card reader technology: from risk and fraud management and processing services as well as certifications and licenses through to hardware development. Wirecard’s white label program for mobile card readers is geared to sales partners who can design the product with their own look and feel.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index (LEI) for the U.S. was up 0.6% in April to 95.0, following a 0.2 percent decline in last month and 3 months of steady increases prior to March. The rebound was mostly due to housing permits and the interest rate spread and, with a 3.5%…
ACI Worldwide announced Desert Schools Federal Credit Union ($3.1 billion in assets) selected its online banking and bill payment services to enhance its technology services to over 321,000 members. The institution selected ACI’s Architect Banking for its flexibility and configurability for delivering online and mobile banking capabilities. By utilizing the Software Developers Kit (SDK), DSFCU will have the tools needed to grow its online banking application to meet the ever-changing needs of its member base, all while providing a user experience that is highly intuitive and personalized. ACI’s Electronic Biller Directory and proprietary Real-time Digital Scanline technology maximizes payment accuracy for both DSFCU and its members, resulting in faster payment delivery and fewer payment errors.
TSYS announced that it has signed a long-term payments agreement with KeyBank to provide payment processing for the bank’s consumer credit card portfolio. KeyBank made the strategic decision to bolster its payments business last year and begin self-issuing credit cards. At that time, Key purchased a $725 million Key-branded credit card portfolio from Elan Financial Services. KeyBank has selected TSYS’ TS2 platform to convert the portfolio and issue new cards going forward. In addition, KeyBank has contracted with TSYS to provide fraud prevention and risk management services to bank clients. TSYS’ past success with KeyBank involved a smaller portfolio acquisition conversion to the TSYS Program Solutions (TPS) platform in 2012.
Gemalto is providing its smart card based solution to Dipon Consultancy Services Limited (DCSL) for their financial inclusion project. DCSL has deployed DG-ePay (Dipon Group-ePay) Service Points at major public places throughout the country. End users can enroll themselves and open an account at any of the DG-ePay Service Points. The Gemalto smart cards contain an embedded software application that securely stores the holder’s facial image and fingerprint data captured upon enrollment. End user transactions are validated using biometric authentication, providing a superior level of convenience and security to all, including illiterate users. The Gemalto solution facilitates daily life financial services, such as account opening, deposit, withdrawal, transfer, loan repayment and remittances. DCSL has already delivered 200,000 cards to end users.
Discover Financial Services, parent company of PULSE Network LLC, announced that U.S. ATM acquirers will soon have the ability to route JCB transactions over the PULSE Network, as PULSE becomes JCB’s preferred choice for global ATM transactions. ATMs in PULSE’s U.S. network will be able to accept JCB transactions beginning in August 2013. The agreement is expected to increase volume on the ATM network for both JCB and Discover, which currently has more than 415,000 U.S. ATMs and more than 1 million ATM and cash access locations around the globe.
WEX corporate payment solutions signed an agreement with Globalia air, hotel and travel related services, to provide the WEX Travel solution. The agreement emphasizes WEX’s commitment to service customers across Europe with its virtual payment technology. The WEX Travel solution allows Globalia to reduce costs, increase efficiencies, and improve security with its pioneering single use virtual card technology. The WEX Travel product provides businesses with the ability to use single use virtual cards for travel booking; reduce costs and increase efficiency; streamline payment reconciliation; earn revenue share on processed payments; and integrate with existing systems to support high volume operational environments.
I-Free launched its full-featured NFC-wallet in CIS embedded in smartphones and TSM (TrustedServiceManager) platform providing the advantages of NFC-technology including remote issue and protected of download MobileMasterCard PayPass cards. Both the NFC-wallet and TSM (Trusted Service Manager) platform were developed by i-Free for mobile contactless technology. Three services are available for NFC-wallet users: MobileMasterCard PayPass payment card of Tinkoff Credit Systems bank, transport cards from some Russian regional centers and geolocation-based coupon service. Nowadays these services are available only for a limited number of users, although we are preparing them for mass commercial use. A package solution including NFC -wallet and TSM platform significantly extends smartphone’s features, thus converting the devices into universal storages of any modern smart-cards and respective applications.
DFC Global financial services company for the unbanked and under-banked acquired Express Credit pawn loan provider. Express Credit Amanet, founded in 1998, operates a chain of 32 stores predominantly in the city of Iasi, Romania. In concert with DFC Global’s European pawn expansion strategy, the acquired stores primarily offer pawn lending on gold jewelry, small-size high-value electronics and automobiles, in addition to gold buying services. This acquisition also represents the Company’s initial foray into pawn lending on items outside of jewelry and fine watches. The trailing twelve months revenue for the acquired stores was approximately $9.0 million at the closing of the transaction and the acquisition is accretive to earnings.
The European Payments Council (EPC) and the Cards Stakeholders Group (CSG) published version 6.5 of the Single Euro Payments Area (SEPA) Cards Standardisation Volume for a six-week public consultation. This document defines a standard set of requirements to ensure an interoperable and scalable card and terminal infrastructure across SEPA, based on open international card standards. All market participants and interested parties are invited to provide feedback by 14 July 2013. The CSG is a multi-stakeholder body representing retailers, vendors, processors, card schemes and the EPC. Created in 2009, the CSG develops and maintains the SEPA Cards Standardisation Volume, and focuses on a cards standardisation programme that will create a better, safer, more cost efficient and functionally richer card services environment, whatever the card product or scheme may be. The CSG improved usability and allows for greater flexibility regarding the maintenance of the documentation.
Agilysys announced that Wet ‘n’ Wild Las Vegas water park selected its “InfoGenesis” POS solution to streamline food and beverage operations and enhance guest service. The park opened Memorial Day weekend. Agilysys “InfoGenesis POS” POS software combines powerful reporting and configuration capabilities in the back office with a fast, intuitive and easy-to-use terminal application. The flexible system is easy to set up, and its scalable architecture enables customers to add workstations without having to build out expensive infrastructure. It also integrates easily with other applications, such as gift card and guest management solutions. The system’s detailed and high-quality reporting capabilities give insight into sales data and guest purchasing trends. Other features include packages and prix fixe menus, signature capture and multi-language capability. InfoGenesis POS is available as an on-premise solution or through a subscription service.