Lusis Payments and HP partner on payments switching. TANGO brings payments systems into line with the broader IT developments and provides a clear edge over systems that were relevant and capable once. The TANGO solution will be deployed across three central hubs with the first instance already installed in HP’s Regional Cards and Payments Utility in Sydney, Australia. It will run on HP NonStop, the platform of choice for critical on-line transaction processing globally. TANGO’s resilient system software coupled with the well-known capabilities of the HP NonStop platform provides a fully fault tolerant system.
MoneyGram money transfer and First National Bank (FNB) launched their first mobile money transfer service, giving FNB account holders a convenient option for sending and receiving international money transfers using their mobile devices. The service features an advanced data encryption system that protects account holder information. Transactions sent from a mobile device are available for collection within 10 minutes, subject to an agent’s hours of operation and local laws and regulations. MoneyGram announced an agreement with First National Bank to solidify MoneyGram’s growing position in South Africa and makes it one of the largest money transfer companies in the region. Adding FNB to its agent network means customers have an additional nearly 1,000 MoneyGram money transfer locations across South Africa from which to send and receive money.
CyberSource eCommerce payment management services opened its French subsidiary in Paris to bring its fraud management solutions to French online retailers. This will be CyberSource’s second expansion into Europe following the opening of its EMEA headquarters in Reading, UK, in 1997. CyberSource is an eCommerce payment and risk management pioneer helping businesses reduce fraud. CyberSource’s ‘Decision Manager’ is an extremely sophisticated fraud management system that provides online retailers with the ability to systematically detect and eliminate fraudulent behaviour sooner, enabling them to optimise the performance of their internal review teams. Vitally, the system can not only help to reduce fraud; it does so while preserving the customer experience by minimising the rejection of valid orders and speeding genuine transactions through. Faced with the growth of online fraud, merchants should take a proactive approach and implement tailor-made solutions to help prevent fraud and and reduce false positives.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up .1% in January to an adjusted $847.5B, it continued growth in February to $848B. Although rather stagnant against recent months, February credit outstanding is way up by and was up 7.75% from on the year ago figure of $798.6B, a super low…
Aconite chip and mobile software first commercial deployment of our mobile EMV scripting solution. Maintaining and updating the settings in mobile applications after being provisioned to handsets is a critical part of the end-to-end management of a mobile payment program, and is not something that is typically provided by an application provisioning system or Trusted Service Manager (TSM). Now a major European processor has selected Aconite’s Mobile Application Manager (MoAM) to support their mobile scripting needs, providing a low-cost, fast-track enhancement of their existing authorization systems to support the broad range of EMV scripts needed to manage EMV applications on a mobile NFC handset. Aconite’s Mobile Application Manager will support counter-resets, passcode changes and other scripts required to fully implement EMV in a mobile environment. The EMV Scripting features delivered by Aconite’s Mobile Application Manager are based on Aconite’s award winning Smart EMV Manager product which provides a wide range of capabilities out-of-the-box, and can be rapidly configured to support new functions, applications and script types without requiring complex integration or expensive customization.
Rakuten.com Shopping recently implemented MasterPass digital wallet service. Allowing users to use any payment card or enabled device to discover enhanced shopping experiences, the new service provides Rakuten.com shoppers a convenient and flexible way to pay via the website or on a mobile device. Shoppers can begin to use MasterPass immediately and will see further promotions on the service throughout the year as MasterPass will be increasingly marketed as an alternative and easy-to-use payment solution.
TransCard and FamZoo partnered to develop Unlimited Family Banking. The prepaid card offering is designed for families, with one predictable flat monthly fee for multiple prepaid cards used collaboratively by individual family members to share funds and develop financial responsibility. The cards are linked together and accessed online through FamZoo’s award-winning family finance software designed specifically to help parents teach kids good money habits. A product of TransCard’s innovative new Premier Select Suite of general reloadable prepaid accounts, Unlimited Family Banking allows financial institutions to offer a fresh new way to address the unique needs of parents who are raising teens and younger children. It focuses on teaching how to Earn Diligently; Spend Wisely; Save Patiently; and Give Thoughtfully.
Green Dot banking and payment solutions partnered UniRush to launch the RushCard Live Reloadable Prepaid Visa Card. The prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide is a cost-effective alternative to a traditional bank account. Available only at retail, it offers early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans. Customers also have access to fee-free transactions at more than 22,000 ATMs via the nationwide MoneyPass ATM network, worldwide merchant acceptance of Visa debit, online bill pay, and a mobile app which includes real-time views of account balances and transaction histories.
Allied Payment Network online bill payment services to the financial industry announced its online and mobile bill payment solutions now seamlessly integrate with Computer Service Professionals (CSPI) Aurora Online Banking platform. Providing financial institutions a full-featured eBanking experience, Allied’s bill payment technology will offer CSPI customers a comprehensive bill pay solution within a single platform, eliminating the need for separate systems. Now, financial institutions’ customers have access to a full-featured online banking platform with tightly integrated bill payment capabilities, achieving a richer customer experience. Allied’s payment routing technology also helps institutions control costs and deliver expedited payment services for a small convenience fee, eliminating costly late fees for customers and generating additional fee revenue for the institution.
MoneyGram money transfer and The Neal & Massy Group opened their first stand-alone money transfer center. The new money transfer center will employ a dedicated staff to offer MoneyGram’s money transfer services and Neal & Massy’s Sure Pay bill payment service. Both product offerings will provide consumers with an additional, convenient location to send and receive cash locally and internationally. Neil & Massy will be offering the development of cross-promotions with the company’s grocery stores, offering incentives to customers to visit the money transfer center.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Nonfarm payroll employment was up in March as the unemployment scratched out marginal improvement, down .1% from the previous month to 7.6%. The number of unemployed persons was 11.7 million while the number of long-term unemployed for 27 weeks or more was little changed at 4.6 million, accounting for 39.6% of…
Bank of America launched its ATM with Teller Assist next-generation banking offering. Combining the technology and convenience of an ATM with the human touch of a teller, this new technology gives customers access to a range of services during extended hours to address their daily banking needs. It also provides convenience, control and flexibility over how, when and where they bank. Using the new ATMs, customers can speak with a Bank of America teller via real-time video and receive the same quality of personal assistance they would if they walked up to a banking center counter. The “ATM with Teller Assist Cash” lets users cash checks for the exact amount, including receiving change; receive cash withdrawals in a variety of denominations ($1, $5, $20 and $100), deposit checks with cash back (future functionality), split a deposit into two or more accounts (future functionality).