FleetCor Technologies fuel cards and workforce payment products to businesses, confirmed that it has signed a long term fuel card system processing contract with Chevron covering Asia-Pac and South Africa. Using its Global FleetNet (GFN) fuel card processing platform, FleetCor will process transactions for Chevron’s private label commercial card program fuel card in six Asia-Pac markets plus South Africa. The in-scope geographies are Hong Kong, Philippines, Singapore, Malaysia, Thailand and New Zealand. Chevron has a significant position across Asia-Pac and South Africa and private label commercial fuel cards are a major part of its ongoing development in these markets.
IXcellerate announced that Moscow One Datacentre achieved the Payment Card Industry Data Security Standard (PCI DSS) certification, the most thorough global payment-card security standard within the industry. This worldwide information security standard was set up by the Payment Card Industry Security Standards Council to protect sensitive information and avoid possibilities of a fraud. Verizon, an internationally recognised leader in security and technologies that need to be protected, issued this prestigious certification to Moscow One Datacentre. Since any organisation that handles card data is required to meet PCI DSS, a failure to comply can be costly not only for an organization but also for its clients.
PT JCB International Indonesia, subsidiary of JCB International Co., Ltd., the international operations arm of JCB Co., Ltd. (hereinafter collectively “JCB”), and Bank Negara Indonesia (“BNI”) are pleased to announce the launch of the Kartu Kredit BNI JCB Platinum card. BNI was the first bank in Indonesia, established by the government in 1946, and now has a nationwide network of 1,694 outlets spread throughout 34 provinces and 384 counties in Indonesia and 11,175 ATMs serving the Indonesian people. BNI is one of the top ranked in the credit industry as well, having issued 1.7 million cards to consumers and acquiring credit transactions at 40,000 merchants. JCB cards are today issued in 16 countries with 83 million cardmembers and accepted at 24 million merchants in 190 countries and territories around the world. JCB entered into the Indonesian market in 1983 to expand JCB card acceptance and JCB card issuing to residents of Indonesia was launched in 1996. JCB and BNI signed an issuing and acquiring license agreement in May 2013, culminating in the launch of the new Platinum card.
Responding to the needs of its growing multinational customer base, Wells Fargo & Company (WFC) announced it has expanded its commercial card portfolio to Europe by offering the European Commercial Card, where commercial card transactions in pound sterling or euros will now be easier to process, track, and report. Supported by MasterCard, one of Wells Fargo’s longtime credit card partners in the United States, the Wells Fargo European Commercial Card can be used in 37 million outlets worldwide. The European Commercial Card solution balances enhanced controls and local, regional, and global management oversight with international traveler convenience through a global card expense reporting tool via Wells Fargo’s Commercial Electronic Office® (CEO®) portal. This tool permits company financial officers and their employees the ability to monitor commercial card transactions, such as travel expenditures (e.g. airfare, hotel, rail), use data for local, regional or global strategic sourcing opportunities, and maintain visibility over expenses.
On Track Innovations NFC and cashless payment solutions, has expanded the capabilities of the 84 transit ticket vending machines operated by its electronic ticket systems subsidiary, ASEC S.A. Integrated oti NFC contactless card readers now allow travelers and commuters to easily use any NFC-enabled credit/debit card or mobile device to recharge their pre-paid phone cards issued by Mobile Network Operators (MNO) in Poland. Currently supported pre-paid cards include those issued by T-Mobile, Heyah, Play, Plus, Orange, NJU Mobile and Lycamobile. The machines accept traditional credit/debit card and cash payments and will also support oti’s new WAVE device that makes any mobile device NFC-capable. The ASEC automated ticketing network has enabled more than 62 million trips on the Mazovia Railway. Revenues generated from this new capability for refilling pre-paid phone cards are included in the estimated $4.7 million transaction fees revenues for the Mazovia Railway System over five years as was announced by oti in April 2013.
Monitise announced Tom Houghton has been appointed as a Non-Executive Director. Visa Europe’s new nominated director to the Board of Monitise, Tom heads the Core Payments division of the business. He joined Visa in 2011 as its Head of Processing, which accounts for 35% percent of the business’ overall revenue. Tom has spent a lifetime working in the payments industry, starting out in the retail sector. He worked for a major US merchant retailer running development and deployment for in-store point-of-sale systems, merchandising, inventory, and distribution applications. He then moved to electronic payments group ACI Worldwide, where he spent 21 years in a variety of roles in both North America and Europe, leading product management, product development, customer support, sales and services divisions.
hyperWALLET global payment solutions, announced the availability of new low-cost direct-to-bank payment services in Malaysia and Chile. Many global corporations are active in these rapidly growing economies and need to pay people locally in a cost-effective and timely manner. hyperWALLET has addressed this problem by enabling fully-compliant direct-to-bank transfers in both countries in local currency, within 2-3 business days. Powered by hyperWALLET’s global payment platform and extensive financial networks, corporations can easily make mass payouts while providing payees with flexible in-country payment options. hyperWALLET also enables payees to receive payments on brandable prepaid debit cards, or as cash at any Western Union agent location across both Malaysia and Chile.
Among the nation’s top four Visa and MasterCard (V/M) issuers, bank credit card charge-offs are down 48 basis points year-on-year (Y/Y), but up nine basis points quarter-to-quarter (Q/Q). All credit card metrics are seasonally skewed in the first quarter as well as the fourth quarter by a higher denominator in Q4 and a lower denominator in Q1. Nevertheless, bank credit card charge-offs have been marching south throughout 2013.
PayPal net total payment volume (TPV) grew 27% with Merchant Services volume up 32% and on-eBay volume up 15%. Revenue grew to $1.8 billion. PayPal gained 5.8 million new active registered accounts to end the quarter at 148 million, up 16%. Global on-eBay penetration increased to 78.9%. PayPal continued to invest in its credit offerings,…
Payoneer, a leading online payments company transforming the way technology companies and SMEs globally send and receive cross-border payments, announced today that Lázaro Campos, the former CEO of SWIFT, has joined its Advisory Board. Campos spent 25 years with SWIFT, including five as CEO. Under his leadership the company nearly doubled volume while maintaining a high standard of operational performance. He will work with Payoneer management as it accelerates development of new products and services in support of its growing global customer base. Mr. Campos is joining Payoneer at a critical time: Payoneer recently completed a Series D financing round of $25 million, and was selected by Google as a payment partner for Google Trusted Stores.
Market experts believe real-time ACH payments will become a reality in the U.S. within the next two years, based on a survey of 120 financial industry professionals. Momentum for faster payments has been accelerating with government call to action for the U.S. to adopt a real-time payment system within 10 years. The results of ACI’s latest survey highlight that the majority of industry professional respondents believe this vision can and will be achieved in far less time. ACI’s survey found 27% of respondents have not made a payment through their mobile device, somewhat surprising given that those surveyed are the same professionals pushing forward the ‘mobile revolution.’ Findings also show 70% believe real-time ACH payments will become a reality within the next one to two years and 92 percent within the next five years, 86% believe real-time ACH will add “significant” value to businesses and corporate bank clients and 34% rated social media’s importance to financial institutions as neutral to not important.
Citi and Expedia extended their partnership in a multi-year agreement. Through the new agreement, Citi and Expedia Inc., through the Expedia.com brand, will continue working together to provide more value to travelers and cardmembers. Since 2007, Citi and Expedia have worked together to provide the Citi Premier Pass® / Expedia® card, which has helped hundreds of thousands of travelers connect with the people and places that matter most to them.