ACI Worldwide announced the winners of the 2014 ACI Excellence Awards. The fifth annual ACI Excellence Awards celebrate leading financial institutions, processors and retailers for innovative and transformative uses of ACI solutions to solve real-world customer and business issues. ACI Excellence Award and Merit Recognition recipients were selected by a panel of judges comprised of ACI experts and leading global payments analysts from Aite Group, CEB TowerGroup and Celent. Winners were selected across ten categories and are based throughout the Americas, Asia/Pacific and EMEA. This year’s Excellence Award winners include:
2C2P payment solutions and Myanmar Citizens Bank, one of the pioneer private banks in Myanmar, have officially announced the launch of the mPOS solution, iACCEPT, in partnership with Myanmar Hotels International Group, to accept MasterCard and Visa international payment cards. iACCEPT is a 2C2P owned innovative mobile solution that transforms iOS and Android smart phones into a mobile point of sales system. iACCEPT will allow Inya Lake Hotel and The Strand Hotel, both luxury hotels under Myanmar Hotels International Group, to accept payments through MasterCard and Visa inside the guest room, effectively providing in-room express check out facilities for guests. iACCEPT solution runs on the same backbone of 2C2P’s PCIDSS Level 1 payment platform, so it is as secure as a traditional POS terminal.
Transit Link and MasterCard announced a collaboration that will see the start of MasterCard card payment acceptance for transit services. With this agreement, commuters will now have an additional way to pay for transit top ups, card replacements and other services. The use of card payments – including contactless (MasterCard® PayPass™) – will supplement the range of options currently available to commuters in a sector traditionally dominated by cash-based transactions, and reduce the amount of time spent queuing for and processing payments. With over five million trips made on public transit across the island daily, TransitLink’s Ticket Offices, which are located at select MRT stations, bus interchanges, major bus stops and several key locations, are key points at which many commuters add value to their transit cards. This collaboration augments TransitLink’s current online and mobile payment offerings to provide positive customer experiences and enables both organisations to further explore joint projects in the transit payment arena.
The number of Visa cards in the Asia-Pacific region may already have exceeded the number of Visa cards in the U.S.market. Visa’s card-base in Asia-Pacific has been growing at an annual rate of 7.3%, compared to the U.S. growth rate of 3.8%. As of June 30, 2013, there were 692 million Visa cards in the Asia-Pacific region, compared to 708 million in the U.S. market.
ERN announced its partnership with SCCP Group’s mobile payment platform Swiff, to enable merchants in Europe and Asia to analyse behavioral transaction data captured by Swiff platform in real time. Swiff mobile payment platform is designed to help merchants make and receive card payments using mobile devices to allow fast, easy and secure card transactions. With this new partnership with ERN, the transactional data captured by Swiff can be analyzed in real time by ERN’s Looop platform, enabling merchants to create personalized offers for individual customers delivered directly to their smartphone. ERN recently announced a three-year strategic partnership with FICO (NYSE:FICO), a leading predictive analytics and decision management software company.
MoneyGram and CIMB Bank Singapore partnered to offer international money transfer services at the CIMB Bank Currency Exchange outlets at Resorts World Sentosa and the Marina Bay Cruise Centre, bringing increased accessibility of funds transfer services to customers. The addition of the two CIMB Bank Currency Exchange outlets increases the MoneyGram network in Singapore. Customers can easily send or receive money at any of these locations by submitting the relevant ‘send’ or ‘receive’ form and providing photo identification to complete the transfer.
Singapore is currently the fastest growing country in the world for Visa payWave thanks to increased consumer and retailer acceptance with the addition of new merchants in the “everyday” segment, such as cafes, cinemas, fast food chains, pharmacies and convenience stories, as well as increased consumer acceptance. Contactless payment momentum has been greatly supported by major supermarket chains in Singapore and this has increased Visa payWave acceptance across the island. Cold Storage, Market Place, Giant and, most recently, NTUC FairPrice have also adopted Visa payWave as a payment option. There are now more than 1.5 million Visa payWave cards2 issued in Singapore, an increase of half a million cards since the beginning of the year. Locally, cardholders can choose from 17 Visa payWave cards issued by national banks.
Singapore Banking Corporation Ltd. (SBC Bank), a leading commercial bank in the Kingdom of Cambodia, and JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB, the only global payment brand based in Japan, announce that SBC has started JCB merchant acquiring operations in the Cambodia market and has signed a memorandum of understanding for JCB card issuing. SBC Bank will phase in JCB card acceptance at all SBC Bank merchants in Cambodia by the end of 2013 and plans to issue JCB card in the near future. The strong economic growth of the Cambodia market is creating more potential for card issuing business. SBC Bank and JCBI are preparing to launch JCB card issuance in the next few years.
SingTel and Visa have announced a strategic alliance that will enable consumers in Singapore and Australia to pay for goods and services using their smartphones at all Visa payWave acceptance points worldwide. Visa is working with SingTel to link Visa prepaid accounts to mCash, SingTel’s mobile money solution. Planned for launch in early 2014, the service allows mCash customers to wave and pay with their NFC-enabled smartphones for daily necessities such as coffee, fast food, groceries and movie tickets at Visa payWave acceptance points. There are currently more than 12,000 Visa payWave acceptance points in Singapore and over 100,000 across Australia.
DBS and Visa have launched Visa Personal Payments (VPP) for quicker, more secure money sending from a bank account to any Visa cardholder around the world. To make a payment a user just needs the recipient’s name and their 16 digit Visa card number. The new service is accessible to all DBS/POSB customers in Singapore and is available through the bank’s iBanking and mBanking channels. DBS/POSB customers can now send money to over 1 billion eligible Visa cards globally, including funds transfers in near real-time (within minutes) to over 200 million Visa Debit, Visa Credit and Visa Prepaid cards. Transfers to a Visa debit card occur as a deposit to the underlying checking or savings account, transfers to an eligible Visa prepaid card occur as a top-up to the balance, and transfers to a Visa credit card will be applied to the outstanding balance with any surplus funds held in credit. For a limited period of time, customers can also enjoy low handling fees starting from S$2.50 and competitive foreign exchange rates.
Moneythor is announcing its new personal finance service and underlying banking software components at Echelon 2013, Asia’s largest tech conference. The new solution is designed to help consumers better monitor their finances with secure, nonintrusive and proactive financial management functionality straight into their online banking sites. It also enables banks to significantly enhance their existing online services with no disruption. The solution is easily implemented into their infrastructure and will improve their customer insights and open up new revenue streams. Roll-out to other countries in the South-East Asia region as well as availability of additional components built for financial institutions is planned for later in the year.
MasterCard in the APMEA region the appointment of Robert Keenan in the role of Asia/Pacific Region Lead for Debit and Jason Tymms will take over as Prepaid Lead for the Asia/Pacific, Middle East and Africa region. Rob, who has been with MasterCard since March 2005, will be responsible for developing and growing the company’s debit products and innovations in the Asia/Pacific region, effective May 16. Rob was responsible for leading debit in two key divisions – the UK & Ireland and the Eastern European Markets, where he managed a team in charge of driving product strategy and innovation, as well as the development and management of the MasterCard suite of debit products and solutions. He also was with Switch Card Services, the former local debit scheme in the UK, where he was Senior Business Manager, responsible for managing various product propositions and driving the day-to-day business needs of a domestic debit organization. Jason Tymms, who was previously the business leader of Prepaid Product Management for Australasia since 2011, will be relocating to Singapore and taking on the role of Prepaid Lead for the APMEA region.