Visa and WageWorks on-demand provider of tax-advantaged programs for consumer-directed health, commuter, and other employee spending account benefits, announced a new, multi-year agreement naming Visa as WageWorks’ preferred brand for prepaid employee benefit and health spending cards. Spanning a myriad of consumer directed benefit accounts, the relationship provides employers and their employees with the convenience, security, and reliability of a Visa prepaid card when accessing tax deferred money for qualified purchases. WageWorks provides nearly 10,000 employers with a broad array of consumer-directed benefit accounts, representing 24 percent of Fortune 500 companies and 40 percent of Fortune 100 companies across the U.S.
Ingenico payment solutions selected its solution for the acceptance of Visa cards in “Auchan Russia” hypermarkets, in cooperation with Visa and Bank VTB24. The first hypermarket to accept Visa cards is Auchan Sokolniki in Moscow, with 138 lanes equipped with Ingenico’s iSC250 terminal. At the end of December 2011, already 1.700 Ingenico terminals were deployed throughout the country in 22 hypermarkets. By the end of 2012, Visa cards should be accepted in all Auchan hypermarkets in Russia. The deployment of the Ingenico terminals will thus continue. The iSC250 provides proven high performance signature capture for multi-lane retail environments, boasting a large screen area and easy-access stylus. It eliminates the need to print receipts, which are sent with the signature samples directly to the host server, and is much faster and more convenient than a paper check.
Mako Networks released a new model of its award-winning Mako 6500 network appliance incorporating a 3G mobile data connection to keep business flowing during ADSL or Ethernet network outages, or offer connectivity in areas not served by fixed-line networks. The new Mako 6500 features a failover option, so that in the event of a fixed-line network outage the appliance will automatically switch over to a wireless 3G connection. When the primary connection becomes available again, the Mako 6500 will fall back to its original connection method. Mako 6500 3G units continuously check the health of their wireless connection to ensure a mobile network is available and on standby in case it is needed. The Mako 6500 is compatible with all 3G networks, including Telecom, Vodafone and 2degrees.
Of the total $2.48 trillion in outstanding US consumer debt, total outstanding revolving credit was up 8.5% in November from $794.5 billion in October to $807.9 billion. This compares to the year ago figure of 797.0. Meanwhile, delinquencies and chargeoffs remained low and have shown losses reduced by half and now stand at 5.64%, down…
The Conference Board Leading Economic Index (LEI) for Germany declined 0.2% and The Conference Board Coincident Economic Index (CEI) decreased 0.2% in November. The Conference Board LEI for Germany fell in November, the third decrease in the last four months, with new orders in investment goods industries making the largest negative contribution. In the six-month period ending November 2011, the leading economic index decreased by 2.9 percent (about a -5.7 percent annual rate), a reversal from the 2.5 percent increase (about a 5.1 percent annual rate) during the previous six months. In addition, weaknesses among the leading indicators have remained widespread in recent months. With the 0.2 percent increase in November, The Conference Board LEI for Germany now stands at 103.4 (2004=100). Based on revised data, this index increased 0.4 percent in October and declined 1.2 percent in September. During the six-month span through November, the index decreased 2.9 percent, with two of the seven components increasing (diffusion index, six-month span equals 28.6 percent).
OpenLink Financial cross-asset trading, risk management and operations processing software solutions, announced initiatives focused on accelerating compliance with Dodd-Frank regulatory milestones scheduled for 2012. With this, OpenLink is committed to staying at the forefront of Dodd-Frank regulatory reform, working closely with clients, regulatory agencies, clearing houses, clearing members, service providers and trade data repositories to keep pace with the rapidly evolving derivatives landscape. OpenLink continues to provide leading technology solutions for the energy and financial services markets with its suite of Dodd-Frank regulatory compliance solutions.
Freescale Semiconductor and INSIDE Secure announced a secure prepaid utility meter reference design with NFC connectivity that OEMs can use to quickly and cost-effectively bring to market electricity meter products. The reference design, based on the Freescale Kinetis MK30 microcontroller (MCU), provides the first NFC-based, prepaid meter with the ability to securely reload energy credit balances. Utilities in many countries require a sophisticated payment infrastructure to facilitate the utility payment process while preventing fraud. Secure prepaid meters, such as this reference design developed by Freescale and INSIDE Secure, address this need by adding sophisticated smart card security mechanisms that have been proven in the banking industry.
O2 Secure Wireless is pleased to announce that February 1, 2012, will be the “official” launch date for the roll out of its new prepaid MasterCard that aims to provide services to the world’s growing unbanked and underbanked population. The prepaid Master Cards featured will be made available to all clients domestic and abroad and will serve to additionally benefit to the Company by way of facilitating ease of payment for services. The O2USA MasterCard differs from traditional MasterCard functionality in that it guarantees approval for all applicants over the age of 18. With low fees, notably lower than that of other providers such as Wal-Mart, the O2USA MasterCard will make it possible for those without a bank account and or low credit score to shop without restriction on a global scale.
Eckoh the UK’s leading provider of customer service solutions using speech recognition, is pleased to announce the award of a three year contract with VFS Global (“VFS”) in collaboration with its partner BT. VFS provide a range of administration services on behalf of Embassies in relation to Visa applications, including checking applications and collecting Visa fees, through to submitting applications directly to the Embassy. To support VFS, Eckoh has provided a PCI DSS compliant payment solution to collect payments from callers as part of the Embassy Visa appointment booking process.
PayLane is now a certified partner of American Express. This development makes it possible to process payments without other parties’ involvement, offering PayLane clients lower fees and simpler account opening procedures. The partnership allows clients who want to accept payments with AmEx cards to do so without applying for a merchant account with another acquiring bank. Apart from a simpler process of opening an account, PayLane clients now pay less for processing payments. Direct collaboration between PayLane and American Express eliminates any additional fees charged by acquiring banks.
3V Transaction Services extended its mobile financial services platform to its franchise partner, 3V Netherlands. This marks a further international expansion for 3V’s mobile money technology services and a further step in the execution of the company’s strategy of providing business technology solutions to operators in the mobile consumer payments sector. The 3V “Visa Prepay” service in the Netherlands now provides customers with a secure VISA debit card linked to their mobile phone which can be topped up with cash or via bank accounts. The service is designed to offer Dutch consumers a convenient and globally accepted payment service linked to their mobile phone to allow universal spend and money management.
SITA IT solutions achieved PCI DSS certification as a service provider of its common-use platform “AirportConnect Open.” SITA’s “AirportConnect Open” is used by more than 300 airlines to process millions of passengers every day in more than 400 airports around the world. It supports workstations and CUSS kiosk applications that is compliant with the latest security standard PCI DSS Version 2.0.