TNS & MC Renew Payment Server Software

Transaction Network Services has
renewed its agreement with MasterCard to provide payment server software
for MasterCard’s ecommerce platform, the MasterCard Internet Gateway
Service (MiGS). MiGS provides an outsourced payment gateway service for MasterCard’s
bank acquirers and merchant customers. TNS supports MiGS with payment software for a range of online payments
services commonly used in Card-Not-Present transactions. TNS technology
enables processing of multi-regional card transactions and supports a
secure, reliable and efficient payments environment. It is used worldwide by more
than 70 bank acquirers and over 17,000 merchants.
This renewed agreement cements the relationship between the TNS Payments
Division and MasterCard which began in 2007.

Credit Card Industry in No Danger of Extinction

With outstanding card balances in 2009 up to $80 billion lower and nearly 100 million fewer cardholder accounts, rumors are springing up about the end of the credit card industry as the world knows it. The credit card business, however, is here to stay for a multitude of reasons. Card issuers, for one, which have found an approach to dealing with inactive credit card accounts, have saved over 30% of their potential account closures, according to R.K. Hammer. Also, it is predicted most of the credit card industry will have moved to “value-based” enterprises rather than so called “fear based,” which the early adopters are applying in 2010 and 2011. This requires issuers to really learn what consumers value most about their credit cards. And with the days of double digit charge offs to dwindle over the next 6 months, and return to safe-harbor loan loss levels, cardholders will still have to repay the outstanding $800+ billion in credit card debt.

Microchip Tech Inks Second Amendment to Acquire Silicon Storage

Microchip Technology has entered into a second amendment to acquire
CA-based memory product provider Silicon Storage Technology.
Additionally, in connection with the amendment, Microchip is today
purchasing directly from SST newly issued shares in an amount equal to
19.9% of the current issued and outstanding shares of the common stock
of SST at $3.05 per share in cash. In the event that Microchip’s
acquisition of SST is not consummated, Microchip has agreed that as a
general matter, it will not use its voting rights to block a transaction
that constitutes a superior proposal and the profits on its sales in
such transaction will be limited. Furthermore, Microchip will have an
option to sell its shares back to SST at $3.05 per share. Microchip
Technology is a leading provider of
microcontroller and analog semiconductors, Silicon Storage Technology, Inc.:
SST designs, manufactures and markets a diversified range of memory and
non-memory products for high
volume applications in the digital consumer, networking, wireless
communications and Internet computing markets.

VISA EXEC

Elizabeth Buse has been named Group Executive, International, with Visa effective April 1. She will oversee Visa’s global sales and client service functions across Asia-Pacific and Central Europe, the Middle East and Africa (CEMEA). Previously having served as Visa’s Global Head of Product, Elizabeth will be based in Singapore. This development follows Rupert Keeley decision to leave the company, under who’s leadership Visa’s business in the Asia Pacific region grew significantly. Now positioned for further growth Visa retail electronic payments network offers cash access in local currency in more than 170 countries.

ClearPoint Focuses on Spring Break Spending Pitfalls

ClearPoint Credit Counseling Solutions, a member of the National
Foundation for Credit Counseling (NFCC)is offering tips to college students
to prevent problems while enjoying spring break: increase security; create and follow a spending plan
If you take a credit card, make sure to budget for the trip so that,
when you can get home, you can pay it back immediately to avoid interest
and drawn-out, on-going payments. By monitoring your spending and keep a
running total of your expenditures, you can avoid overspending and decide on a method for spending whether its a card or cash.
Traveling with credit cards is often safer than with debit cards. Credit
cards come with numerous consumer protections such as coverage on stolen
or damaged goods.

Visa Appoints New Group Executive, International

Elizabeth Buse has been named Group Executive, International, with Visa effective April 1. She will oversee Visa’s global sales and client service functions across Asia-Pacific and Central Europe, the Middle East and Africa (CEMEA). Previously having served as Visa’s Global Head of Product, Elizabeth will be based in Singapore. This development follows Rupert Keeley decision to leave the company, under who’s leadership Visa’s business in the Asia Pacific region grew significantly. Now positioned for further growth Visa retail electronic payments network offers cash access in local currency in more than 170 countries.

SIVERGE & ZTE

Siverge Networks’ “Griffin”
flagship product has been selected by telecom provider ZTE for its multi service and wireless backhauling new products.
The Griffin family of chip solutions redefines the cost and performance for networking infrastructure, enabling customers to collapse different systems and line-cards into a single multi-service card, performing all the necessary transport and aggregation functions needed to create a bridge between legacy systems and new services and networks. The project is a joint work of a Siverge Networks partner, Comtech Broadband, a leading distributor and engineering services company in China. This is part of Siverge’s rapid penetration into the Chinese market, strengthening its technical and business presence in this important region. Siverge Networks recently unveiled its low-cost, high-performance Universal Gateway solution for mobile backhauling infrastructure and evolving Carrier networks. The new offering, known as the SivGate, extends the Griffin family of products, enabling cost-efficient multi-service transport and aggregation solutions – starting with low-end wireless cell site collocation and aggregation, up to high speed complete multi-service gateway for the Access and Core. SivGate provides leading-edge capabilities, while reducing R&D effort and time-to-market for customers. Siverge Networks is a leading provider of networking chip solutions.

GEMALTO MASSIM

Gemalto is the recipient of the 2009
SmartGrid Product of the Year Award from Technology Marketing
Corporation (TMC) and Intelligent Communications Partners.
for its MASSIM solution. The MASSIM concept is an M2M specific
solution specifically designed to detect if a machine-to-machine
wireless network subscriber identification module has been removed from
a utility meter and placed illegally within another device. This
detection ensures the essential connectivity element within the smart
grid ecosystem is tamper proof, protecting the utility and wireless
operator from fraud. MASSIM is highly customizable with multiple
environmental sensing parameters and sends a service provider alert in
the event of unexpected change.

PREPAID.COM

Vesta Corporation electronic payment solutions has introduced “Prepaid.com” recharge portal allowing mobile customers to send airtime to friends and family worldwide. Offering immediate, no-fee recharging for prepaid mobile phone accounts, “Prepaid.com” provides mobile operators with a plug and play solution that supports in-country and cross-border recharge for mobile services. These include prepaid airtime, subscriptions, and mobile broadband. This helps mobile operators capitalize on the billions of cross-border payments sent annually, and includes a variety of consumer-friendly features that have been shown to increase the lifetime value of customers. The new portal integrates easily with an operator’s infrastructure for fast time to market.

RushCard Inks Membership Agreements to Join Green Dot

Green Dot prepaid financial services and cash reload network has inked cooperative agreements with UniRush. With this, RushCard customers can add cash to their prepaid cards using Green Dot’s “MoneyPak.” Green Dot sells its cards and offers reload services nationwide at approximately 50,000 retail stores, offering consumers convenient access to its products and services. OH-based UniRush was created to offer the over 48 million Americans without access to a traditional banking relationship an array of basic financial services via the Prepaid Visa RushCard for direct deposit, the ability to withdraw funds at over 850,000 ATMs globally and acceptance wherever Visa debit cards are accepted.

WU NO TRANSFER FEES

To help the victims of Chile’s devastating earthquake, The Western Union Company announced a “No Transfer Fee” money-transfer program, starting Saturday, March 6, 2010, and concluding Friday, March 19, 2010, for money transfers sent to Chile from participating Agent locations in the U.S. The Western Union Foundation, as part of The Western Union Company’s corporate signature program, /Our World, Our Family//,/ announced a $50,000 donation to World Vision towards earthquake relief efforts and has also has activated its Agent Gift Matching Program in support of Chile, matching one-for-one Agent donations from around the world made to the Western Union Foundation, up to a combined match of $100,000. Western Union is encouraging employee donations to be made directly to the Western Union Foundation in support of Chile relief efforts. All employee donations will be matched two-to-one in the U.S. and three-to-one outside the U.S. Additionally, The Western Union Company has set up a special account in the U.S. benefiting World Vision in support of disaster relief efforts in Chile. Consumers in the U.S. can donate to World Vision by sending a no-fee transaction using the Western Union Quick Collect service directed to the World Vision account – CHILERELIEF, CA – for up to $5,000 until April 2, 2010, by visiting a participating Western Union^(R) Agent location or online at www.westernunion.com

Vesta Launches Global Prepay Payment Portal

Vesta Corporation electronic payment solutions has introduced “Prepaid.com” recharge portal allowing mobile customers to send airtime to friends and family worldwide. Offering immediate, no-fee recharging for prepaid mobile phone accounts, “Prepaid.com” provides mobile operators with a plug and play solution that supports in-country and cross-border recharge for mobile services. These include prepaid airtime, subscriptions, and mobile broadband. This helps mobile operators capitalize on the billions of cross-border payments sent annually, and includes a variety of consumer-friendly features that have been shown to increase the lifetime value of customers. The new portal integrates easily with an operator’s infrastructure for fast time to market.