eBay will not be the same without PayPal and most analysts agree they have an uphill battle long-term due to intense competition. However, eBay is expected to divest its Enterprise business in a deal valued at $925 million, according to Forbes.
BillingTree® announced it has once again successfully passed the PCI-DSS audit, this year audited under the new PCI 3.0 standards. The new PCI-DSS is designed with an increased focus on operational standards, security and training to provide greater clarity, flexibility and ease of implementation for vendors. The latest announcement is a continuation of BillingTree’s commitment to remaining at the leading-edge of industry compliance.
Five of the top consumer finance companies made the Stable Rating Outlooks for this year. FitchRatings says the key ingredients are strong franchises and leading market positions, continued strong credit performance, appropriate risk-adjusted capital levels and increasingly diverse funding profiles.
Stung by the loss of the Costco co-branded credit card program, the recent loss of a recent DOJ lawsuit, and the potential of rising consumer interest rates, American Express’ (AXP) Asset-Backed Securities (ABS) credit card program should strong in 2015 given its liquidity profile.
Jordan Kuwait Bank (JKB) launched the ICS Banks from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions. JKB replaced many legacy systems, one of which was an in-house system, and twenty five banking satellite systems. The main requirement for the bank was the application of a fully-fledged bank -in- a- box solution that provides a full range of modules and incorporates a flexible group model. JKB has implemented ICS BANKS to offer modern products through the use of the newly applied suite of applications that cover Core Banking, Remittances, Credit Facilities & Risk Groups, Lending, Trade Finance, Treasury & Investment systems and Wealth Management. The bank also deployed other supporting systems such as, ICS BANKS Retail and Corporate IBS (Internet Banking System), Fixed Assets, Provisioning, in addition to BI (Business Intelligence) and Data Warehousing.
ElectraCard Services has undertaken the end-to-end management of NMB Bank credit and debit cards. ECS will offer these services through their world class PCI DSS certified data centre.
NMB Bank Limited, one of the leading commercial banks in Nepal, has been licensed as ‘A’ class financial institute by Nepal Rastra Bank in May 2008. Over the past fifteen years the bank has been successfully providing banking and financial services in the Nepalese financial market. NMB Bank joins over 9 other banks in Nepal that are already running on the ECS payment platform. ECS will provide the Bank a comprehensive debit and credit processing solution on an EMV compliant card management system. This will provide the Bank complete cards lifecycle management and support all networks, including VISA®, SCT and NPN.
First Data electronic commerce and payment processing announced CEO Jon Judge plans to retire from the company, of which he informed the Board of Directors last week and received full support. Mr. Judge will remain in his position until a transition is effected. First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. The company leverages its product portfolio and expertise to drive customer revenue and profitability for debit, credit card, gift card, check or mobile phone, online or at the checkout counter.
Discover will launch its second annual Day With the Cup social media contest, offering one lucky winner a day with the Stanley Cup. Discover is encouraging hockey fans to submit an original photo that best demonstrates their passion for hockey, along with a 1000 character or less description that answers the question, “I deserve a day with the Stanley Cup because…” Entries can be submitted to Discover’s Facebook fan page by visiting www.discover.com/StanleyCup and following the instructions. The contestant with the most votes by 11:59 p.m. ET on April 21, 2012 will be deemed the official Day With the Cup Winner, and will be awarded a day with the Stanley Cup, celebrating with family and friends, having the experience documented and featured during game one of the Stanley Cup Final, as well as round trip airline fare, hotel and tickets to one of the games of the Stanley Cup Final.
Green Dot Corporation widely distributed, low-cost banking and payment solutions to a broad base of U.S. consumers, is working with AARP Foundation and MasterCard to launch the first prepaid card tailored to older Americans. The AARP Foundation Prepaid MasterCard from Green Dot (the “Card”) is ideal for direct deposit of paychecks and federal benefit payments, especially given new Federal requirements that all Social Security recipients obtain payments electronically as of March 1, 2013. The Card launch online and at Walgreens stores is planned for mid February, with rollouts to more Green Dot retail partners throughout the year. The FDIC insured Card, serviced by Green Dot, has an introductory $0 purchase price and the monthly fee can be waived each billing cycle (regularly $5.95) when (1) at least $250 is direct deposited, or (2) at least $1000 is loaded, or (3) at least 30 qualifying purchases* are posted.
Diebold has signed a purchase agreement for the preferred site of its new global headquarters campus. The agreement includes 55 acres of land in Green, Ohio, on the Union Square site. Diebold’s new corporate campus will house about 1,500 of the company’s employees in its global headquarters. These include research and development operations, hardware and software engineering functions, and sales and marketing areas for the company’s financial self-service, security and integrated services businesses. The company’s corporate financial and administrative operations, customer service and event monitoring centers, and employee training and education functions will also reside in the new facility.
Discover Card unveiled its float design for the 2012 Tournament of Roses Parade to be held on Jan 2. As the 2011 Grand Marshal award-winner for excellence in creative concept and design, Discover hopes to wow audiences once again with a visually stunning float. In keeping with this year’s Rose Parade theme -“Just Imagine…”- Discover is working with Fiesta Parade Floats to design and construct a float entitled “The Dream Believers,” which celebrates the powerful belief that if you can dream it, you can achieve it. The float depicts children peacefully sleeping and dreaming about various professions they aspire to be when they grow up, including a teacher, artist, rock star, doctor, astronaut and firefighter.
Typical fuel cards are brand-tied to a particular chain, so if a driver’s holding a fuel card for ‘Garage A’, but needs to fill-up in an area where the fuel stations are mainly ‘Garage B’, they could have a big problem. A prepaid card, such as the “Cashplus” prepaid Gold MasterCard, is the answer for many fleet managers and their drivers as these cards provide access to fuel from any petrol station that accepts MasterCard. The increased control should be a significant help in reducing the risk of fraud while the card could be set up to allow out of pocket expenses – such as garage, breakdown and recovery bills or even unexpected hotel bills if a journey has to be extended. The “Cashplus” prepaid Gold MasterCard are topped up with the company’s money, so there’s no interest to pay, no unexpected fees and no late payment penalties.