Having endured its third recession last year the Finnish payment cards market has gone soft and may remain so for the next few years.
Savantor strategic, business and technical expertise to the payment industry announced its involvement in the successful launch of the innovative new contactless payment method offered by Elisa mobile network operator. To achieve the objective of launching the new product, Elisa recognised their requirement for additional expertise in new payment technologies. Savantor, as experts in the payment cards market, were selected to assist with Elisa’s fast-moving new payment initiatives providing the framework and necessary know-how to successfully undertake the programme. The new service includes an application on the mobile for contactless payments, separate online payment cards, an online and mobile payment application as well as money transfers between users, developed in collaboration with MasterCard and utilise MasterCard PayPass™ technology.
Equens processed its billionth Sepa transaction last week since the launch of the Sepa Credit Transfer (SCT) scheme in January 2008 and the introduction of Sepa Direct Debit (SDD) in November 2009. Equens’ systems has taken five years to reach the mark of 1 billion SEPA transactions, as many market participants have not yet prepared themselves for the SEPA migration. This despite the fact that the vast majority of the European payments market still needs to actually migrate. In 2012 SEPA payments accounted for only 4.3% (446 million out of 10.4 billion) of all payments processed by Equens. Equens processes SEPA transactions for banks and between clearing & settlement parties from sixteen countries, with Belgium, Finland and Germany delivering the highest volumes.
Ingenico launched its “iWL25o 3G” mobile payment terminal. In conjunction with Luottokunta card service provider, which has agreed a deal with Ingenico to install up to 10,000 3G terminals over the next two years, the “iWL25o 3G” will become the first 3G terminal installed in Europe. Built on Ingenico’s industry leading Telium2 architecture, the “iWL25o 3G” offers 3G connectivity and colour screen option, providing merchants the convenience to engage customers anywhere and accept payments on the move, quickly and securely. The device accepts all forms of electronic payments, including magnetic stripe, EMV contact and contactless, and mobile wallet (NFC-based) transactions.
VeriFone Systems Point Group won its largest to date payments-as-a-service (PaaS) contract, with an agreement to supply Finland’s S Group a complete range of payments services in its 1,600 locations. The S Group is a renowned Finnish cooperative retail company group comprised by the SOK Corporation with its subsidiaries and 21 regional and 8 local cooperatives. With more than 2 million members and 40,000 employees, S Group spans market segments for grocery and consumer goods, petro service station and fuel, travel industry and hospitality business, automotive and accessories trade and the agricultural trade. VeriFone will provide software, estate management, maintenance, integration, security and gateway services. Point will provide S Group with a range of stand-alone, portable and unattended payment systems in food market checkout lanes, restaurants, retail gasoline outlets and pumps, and other locations.
Hanse Orga announced its latest version 2.4 for its FinanceSuite Payment Management. With this, functions have been enhanced and new functions have been added, including central control of the group-wide payments having been made much more flexible. Also, all transactions can be viewed more easily in the central worksheet, allowing users to automatically start management reports directly from the central worksheet. Users can also flexibly define the recipients and determine which documents should be attached to the respective e-mail. Then, the e-mails are automatically created and sent with the relevant attachements.
Nordea extended its partnership with Nets for handling payment cards to also include the Finnish market. Now Nets will be responsible for processing all payment transactions completed using payment cards for Nordea’s Nordic customers in Denmark, Norway, Sweden and Finland, which will now cover more than 100,000 merchants with more than 425 million annual transactions. Nordea and Nets will be ready to deliver full-scale at the beginning of 2012 and offer card acquiring on Nets’ global platform.
Mobey Forum released a white paper entitled ‘Business Models for NFC Payments’, which highlights what needs to happen to make NFC contactless mobile payments at the point of sale (POS) a mass market reality. As NFC technology continues to gain momentum, the study demonstrates how stakeholders can assess different implementation options, define the business case and roles that will meet their requirements and establish a clear go to market strategy with essential partnerships. This latest white paper from Mobey Forum aims to ultimately speed up the development and use of NFC technology for payments.
Dollar Financial Corp diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years acquired Risicum Oyj internet loans for approximately $46.0 million. Risicum was established in 2005 to provide loans predominantly in Finland through both internet and mobile phone technology, utilizing multiple brands to target specific customer demographics. Risicum also provides internet and telephony-based loans in Sweden. The trailing twelve months EBITDA for Risicum is approximately $9.2 million and the acquisition is expected to be immediately accretive to earnings. The Company expects to provide its initial earnings outlook for fiscal 2012, including the Risicum business net of acquisition and transition costs, when the Company announces its financial results for the fiscal year ended June 30, 2011.
Blancco data erasure and end-of-lifecycle solutions launched its latest solution for the secure erasure of data within live storage environments. With worldwide revenue from public IT cloud services forecast to reach US$55.5 billion by 2014, data centres will be entrusted with more information than ever before. In this rapidly emerging cloud computing environment, data centres need secure, cost-effective options for reusing enterprise storage systems without rebuilding them. For safe reuse of these costly and complex systems, Blancco offers LUN Eraser, a centralized tool that can erase logical drives like LUNs in a live storage environment where the host computer cannot be rebooted.
Fico analytics and decision management technology announced the Ferratum Group mobile microlending is set to implement “Model Builder 7.1” to develop more than 100 predictive models to support its growth in 15 countries over the next two years. Ferratum provides short-term, unsecured microloans to borrowers across 15 countries, serving up to 1 million customers worldwide. Ferratum’s modelling team will use FICO Model Builder to build different models for different products and countries, and will explore creating models for different sales channels. The demand to build a high volume of models with a small team drove the selection process, in which FICO Model Builder beat products from SAS and other competitors.
Lasse Heinonen has been appointed Tieto Corporation’s Chief Financial Officer, Executive Vice President and member of Tieto’s Leadership Team as of 16 May 2011. He will join Tieto from Finnair Plc where he has worked since 2004, first as CFO of the company and most recently as Deputy CEO as well as Executive Vice President…