CUP & Greece

Although Greece is in the debt dumpster and China’s UnionPay (CUP) is afraid of Visa’s and MasterCard’s entry into China next year, CUP has accelerated cooperation with multiple mainstream institutions and acceptance coverage of UnionPay cards reached 60% and 40% for ATMs and merchants respectively, basically encompassing places frequently visited by tourists.

EACHA & SEPA

Six members of the European Automated Clearing House Association (EACHA) have joined forces to deliver centralized and optimized processing services for SEPA transactions. For this purpose they have set up a new company called European Clearing Cooperative (ECC).

Aconite Facilitates mPayment Solution

Aconite EMV transaction processing has interfaced its Smart EMV Manager technolog to the Visa Mobile Gateway to enable remote management of the EMV application at the heart of the Tap n Pay service – the first mobile phone application for contactless payments. Introduced in partnership with Visa Europe and First Data, First Data Hellas selected Aconite’s Smart EMV Manager, which includes an EMV Scripting engine, to enable remote over-the-air management of the settings within the Visa mobile payWave EMV application installed in a custom SIM. The Aconite solution has been deployed alongside the First Data host system and linked into the Visa Mobile Gateway in order to provide this remote management capability.Aconite’s flexible and configurable scripting capability makes it an obvious choice for issuers and processors who need to ensure that their systems are capable of quickly changing to meet new and future scripting requirements.

Vodafone Announces mPayment Pilot

Alpha Bank and Vodafone, in partnership with Visa Europe and First Data, introduce “Tap n Pay” NFC mphone app for contactless payments. With a Vodafone mobile SIM card, on which the Alpha Bank Enter Visa debit card, is stored. The Tap ‘n Pay application enables contactless transactions in shops where contactless card acceptance terminals are in use, by debiting the bank account that is linked to the debit card. In order to complete the transaction, users must hold their mobile phone within five centimeters of the contactless terminal, and the transaction will be completed securely in a split second, without requiring either a signature on a transaction receipt or the entry of a PIN number.

Eurobank Deploys Mellon Technologies for Contactless Cards

Mellon Technologies IT integrator deployed its large-scale contactless EMV project in conjunction with Eurobank. The first contactless credit cards now available to bank customers, the EMV project allows cardholders to pay for goods of up to EUR25 with no need to enter a PIN or sign the payment slip. The biggest advantage of contactless payments is the transaction speed -by simply holding a contactless-enabled card over a reader, without entering a pin or signing a slip. While a typical card payment needs approximately 12 seconds to conclude, the contactless payment takes less than a second. Mellon Technologies cooperated with Gemalto , which Mellon represented for over 15 years.

DIAS implements SmartVista domestic transaction processing

BPC Banking Technologies Open System e-payment solutions announced Interbanking Systems, Greece has implemented its “SmartSwitch” switching and routing solution within the SmartVista suite. The “SmartSwitch” legacy solution was selected after a competitive bid process including a number of other international software vendors and met DIAS’ demanding expectations for functionality, performance, scalability and low TCO. DIAS provides processing services to the great majority of Greek banks and has 20 clients running 7,400 ATMs throughout Greece, and supports and processes for a network of POS devices located across the 180 Ministry of Finance tax offices in Greece.

NIRVANA

Eurobank has deployed Nirvana to process consumer loans and credit card applications.
Nirvana is a single, low-latency product that fulfills an organisation’s
external real-time middleware needs, and which was developed from the
outset to bridge the divide between internal data and external clients.
The solution provides advanced transactional and flow
control semantics between the online application website, the back
office and the Altamira core banking system. Additionally, applications
in need of credit reference checks are transmitted in real time to
Tiresias, the Greek inter-bank credit reference authority and results
are asynchronously added to the back office.

MOBICLEAR AGREEMENTS

MobiClear has signed licensing agreements with both Lakonian
Bank and Cooperative Bank of Lakonia to provide bank customers
with transaction security. With these developments, the banks will deploy
MobiClear’s “Card Security,” “Internet Banking Security”, “On/Off
Card Security”, and “3G Video Banking” to protect consumer account
information when conducting transactions, including mobile phone
banking. This agreement will be for at least 3 years and is projected to
generate revenue of nearly $1,200,000 for MobiClear, which specializes
in credit/debit card transaction security. MobiClear provides secure
Internet to, subsequently, promote online solutions while Lakonian Trust is
structured to provide Greek consumers with banking solutions in
conjunction with Cooperative Bank of Lakonia & Peloponnisos.