Pan-European CardPay has inked a direct License Agreement to acquire JCB’s e-commerce card transactions across the SEPA region. With this agreement in place, JCB and CardPay will develop connectivity during Q3’17 and target to go live during Q4’17. JCBI’s acquiring strategy is to aggressively increase its acceptance footprint across the SEPA region by expanding its…
Limassol-based FXPRIMUS, has partnered with BitPay to begin accepting funding via bitcoin.
Failsafe Payments launched two payment modules for popular shopping carts, “Cs -Cart” and “Zen Cart de.” These are provided free of charge and allow Internet merchants to safely and easily accept payments by cards and other payment means on secured CertoPay payment page, fully compliant with PCI DSS standards. Installation and configuration settings are easily performed in accordance with provided API and don’t require Internet merchants to possess specific programming skills.
MoneyGram forged agreements with Near East Bank, adding to its network 10 branch locations. This gives consumers 32 convenient regional MoneyGram locations from which to send or receive money. Cyprus sends approximately $2 billion USD annually in remittances to countries such as Pakistan and Bulgaria, which ranks it among the top 25 countries for sending funds as a percentage of its GDP. Near East Bank is a respected financial institution in North Cyprus.
JCC Payment Systems card transaction processor has implemented inteli-scape’s “inteliWare” solution, powered by FMT’s Application Mediation platform, to protect its e-commerce payment gateway from fraud and provide merchant risk management capabilities. In conjunction with its recent growth, JCC deployed “inteliWare” given its ability to pro-actively assess risks and take inline, real-time interventions and decisions based upon the vast analytical data which the business had acquired over the years. It allows JCC to acquire and attract new e-commerce merchants, together with the ability to offer new, innovative products and services from a single platform.
TSYS and Marfin Laiki Bank have launched the “Woman’s Card.” Supported by TSYS’ “PRIME” licensed card management solution, the “Woman’s Card” is a Visa-branded credit card linked with a
loyalty program allowing cardholders to redeem points as vouchers for
free purchases from a range of stores for women. It allows cardholders
to earn free mammography or osteoporosis tests, travel insurance,
purchase protection insurance and home care services. TSYS technologies
enable EMV-compliance, interest-free instalment schemes and secure
e-shopping service, deploying a virtual card to ensure safer
transactions over the Internet. Marfin Popular Bank was formed in 2006 as a result of the triple merger between the Marfin, Egnatia and Laiki banking groups.
Customers in Cyprus and Malta cardholders have experienced no problems with
SEPA technology migration, over a national “clear” MasterCard system,
the alignment efforts led by MasterCard’s Gobal Technology Operations (GTO)
team. This means banks in the respective countries have made the transition
and can now conduct authorization, clearing and settlement processes on
platform, thus, allowing the transmission of payments with the same
rights and obligations as the rest of the countries implementing SEPA. This
development comes on the heels of the 2 countries’ national currency
the Euro, joining the other 29 European countries.
TSYS Card Tech has partnered with three Cyprus banks for the
implementation of EMV cards following the company’s certification
for VISA Smart Debit/Credit card(VSDC) and Mastercard M/Chip.
The EMV cards will replace the traditional magnetic-strip cards as
they reach expiration dates over the next two years. TSYS has
over 190 clients for whom it assists with EMV implementation and
supports the introduction of interest-free installment schemes. TSYS
Card Tech has clients in 75 countries with 13 offices worldwide.
TSYS Card Tech has agreed to supply Universal Bank Public of Cyprus with upgrades to its “PRIME” card management system and online authorization and switching system. The additional functionalities will enable the bank to support EMV, automated collections, installment schemes and SEPA-compliance. Universal Bank offers a full range of
personal and business banking services and operates 18 branches across the island. With its adoption of PRIME’s “Collector” module the bank will benefit from automated collections with reporting for audit requirements. Universal Bank also intends to offer acquiring instalment plans, using “PRIME” installments, to provide online approval at merchant POS terminals.
Hellenic Bank has deployed Card Tech Limited’s “SENTRY Proxy Card” product for e-commerce. The “Proxy Card” powers the bank’s new “Net Secure” product, which protects cardholder data
and secures Internet transactions by generating single use Internet cards with a user-defined line of credit. It is the first “Proxy Card” installation in the country. UK-based Card Tech Limited and Hellenic bank have worked together since 1991. The bank currently uses CTL’s “PRIME” card management system to issue and administer its VISA and MasterCard cards. CTL says “SENTRY” can easily plug in to “PRIME.”
More than 150 banks from 60 countries use CTL software.
The labor strike at JCC Payment Systems has been settled, putting an end
to the three-day freeze on credit and debit card transactions in Cyprus.
Transactions on all payment cards resumed normally this week. Reportedly,
intense pressure from Cypriot merchants forced the labor action to end. The
stoppage on card transactions was prompted by a decision last week by
Cypriot banks to prevent card transactions being processed via JCC Payment
Systems Ltd. Cyprus banks said last week JCC was unable to guarantee a 100%
efficient service as normally expected by the banking community.
The banks in Cyprus decided to stop all card transactions, regardless of
brand, following a labor strike at JCC Payment Systems Ltd. MasterCard
said it does not know when acceptance will resume. MasterCard said the
stoppage is due to a continuing labor strike within the data center of JCC.
MasterCard cardholders only will still be able to access cash at the 19
National Bank of Greece (Cyprus) ATMs that are available throughout the
country since NBG does not have its card transactions processed by JCC.
Cardholders with MasterCard and Maestro cards, issued by Bank of Cyprus,
Popular Bank, Hellenic Bank, National Bank of Greece (Cyprus), Federal Bank
of the Middle East will also be able to withdraw money from the ATMs of