Collective POS Solutions is pleased to announce the launch of its Payment Processing Articles article series to offer consumers a deeper knowledge of the issues and opportunities surrounding payment processing. The company has begun creating a library of original content that will act as a reference for both current and future Collective POS customers. These articles will include business tips and advice, industry news and trends and other useful information that business owners can put to use every day to positively impact their operations.
An interview with Anas Zaidan, CEO of C3 Card and Rabih Sfeir, its GM revealed the new initiative and the value of C3 Card offered to Wages Protection System in United Arab Emirates. 1. Tell us about C3 Card and your enrollment to Wages Payment System “WPS”. Anas: “C3 Card initiated the operations in UAE…
Anderson Zaks international card payment processing software and services has moved its credit card transaction processing to The Bunker, which will be providing Anderson Zaks with ultra secure managed hosting and co-location services for its “RedCard” managed service. The Bunker offers ISO 27001 accredited and PCI DSS compliant services, so is an ideal match for Anderson Zaks which has over 1,000 merchants using its managed services including supermarkets, High Street chains, airlines, travel companies, theatres, garden centres, pharmacies and corner shops.
MasterCard rebranded its “World Signia” affluent customer solution “World Elite” across Europe. With this, the Company expanded its merchant-supported “World Elite Privileges Program” to include global travel, more than 5,000 luxury hotels, two leading car hire companies, private jets and lifestyle experiences – including spas, golf and fine wine – from major global brands. With this, “World Elite” cardholders can tap exclusive offers from over 40 Privileges partners, including The Savoy London, Mandarin Oriental and Raffles Hotels & Resorts. World Signia cards are currently issued by RBS, NatWest, Coutts and Barclays in the UK.
Mint Technology has formed its “Mint Money” (“M-Money”) subsidiary, established to address the opportunity within Mint’s existing cardholder base for Money remittances within the UAE and internationally. Mint’s core business is in the UAE and is the largest non-bank financial firm servicing over 400,000 foreign labor employees with a payroll card. Mint will first launch its Microfinance program in Q1 2012 followed closely by its Money Remittance and Mobile top up programs.
J&K Bank inaugurated Two ATM’s at Letpora Pulwama and Sarnal Anantnag, growing the number of ATM’s in the Zone to 60 and that of the bank to 442. As a part of its drive to create more awareness about banking products and services besides interaction with its clients, J&K Bank (South Zone) organized a ‘Banking Awareness Program cum Customer Meet’ at Town Hall in District Kulgam. A large number of customers from various Business Units (B/U) functioning in the district participated in the meeting.
Dashen Bank launches electronic banking services for UnionPay Card holders this week using its 90 ATMs and 717 POS terminals. While briefing local media journalists at the Sheraton Addis on the last year’s performance of the bank yesterday evening (October 18, 2011), he stated that Dashen Bank is the first African bank to sign partnership agreement with UnionPay, which at the moment has some two and half billion clients across the world. UnionPay will be the third card for Dashen Bank which has been providing services for Visa and MasterCard users. In order to cut the foreign currency each bank spends to import ATMs separately, all private banks have now established a company called ET Switch, which will enable all to use the same machine which accepts cards of all banks.
MONEY sent home by Filipinos working abroad was up 11.1% to reach $1.7 billion in August to $1.5 billion compared to the year ago period, says Bangko Sentral ng Pilipinas. The August inflows brought the eight-month tally up 6.9 percent to $13 billion, with cash transfers from land- and sea-based workers growing by five and 14.4 percent, respectively. The top 10 sources of remittances include economically troubled nations such as the US, Japan and Italy, as well as Canada, Saudi Arabia, the United Kingdom, the United Arab Emirates, Singapore, Germany and Norway. Combined flows from these countries represented 84.9% of total remittances reported by banks, the BSP said.
Ariba collaborative business commerce solutions closed the acquisition of b-process, a privately-held provider of electronic invoice network. With this, Ariba further expands its global footprint and extends its leadership position in the market for e-invoicing solutions. Certified by an independent accounting firm to handle value-added tax and invoicing regulatory requirements in 24 countries, b-process delivers solutions for e-Invoicing that are used by large buyer customers across industries, which accept invoices in any type of structured format files, including positional, EDI, XML and PDF, allowing buyers and suppliers to quickly and easily connect to the b-process commerce network and begin processing invoices.
Sophisticated criminals are using ‘reverse-engineering’ techniques to gain access to individual bank accounts and to banking software systems, giving rise to a threat of widespread theft and fraud. Highlighted by Automated Teller Machine Industry Association (ATMIA) in its recent report examines the threat of ‘reverse-engineering’ of ATM software by criminal gangs. ATMIA sees evidence that criminals are targeting ATM software as a new frontier of fraud. Software reverse-engineering (RE) will be highlighted as one of the most dangerous threats in ATMIA’s new ‘Best Practice Manual’ to be published on 20 October.
EAST (the European ATM Security Team) posted a 69% increase in ATM related fraud attacks thanks to a surge in reported cash trapping activity across eleven countries. Total incidents increased from 6,649 in the first six months of 2010, to 11,220 for the first six months of 2011 (of which 6,756 were due to cash trapping). During a cash trapping attack criminals prevent cash from a genuine transaction being dispensed – and then remove it when the cardholder has left the ATM. Over the same period incidences of card skimming fell by 33% to the lowest level since 2008.The majority (77%) of ATM related card skimming losses continue to be international (losses outside national borders by criminals using stolen card details) with most occurring in countries outside of Europe.
Al Fardan Exchange UAE launched its promotion campaign 2011 to December 10th, thanking its valued customers. Customers making transaction for Western Union, ICICI Bank and National Bonds will have double chances of winning. The campaign is running in all the branches of Al Fardan Exchange.