bofa Archives • Page 18 of 58 • CardFlash®

Bank of America Deploys EMV Chip Credit Cards

5, Country, Priority, UNITED STATESBy Robert McKinley 07/23/2012

Bank of America is deploying its chip technology on many of its consumer credit cards to increase acceptance and security of the cards for international travelers. Also known as EMV (EuroPayMastercard Visa), the cards are embedded with a microprocessor chip that encrypts and stores the account information. The cards also include the traditional magnetic stripe, which is used by U.S. merchants. The bank will include the chip technology in all newly issued Merrill Lynch credit cards, U.S. Trust Accolades, BankAmericard Travel Rewards, BankAmericard Privileges, and Virgin Atlantic travel credit cards. Customers will be able to request the chip card options at the banking center or via phone beginning this week and online later this year.

TSYS Inks Multi-year Bank of America Processing Agreement

3, Country, Priority, UNITED STATESBy Robert McKinley 07/19/2012

TSYS completed master services agreement, with a minimum six year term, with Bank of America to provide processing services for its consumer credit card portfolios in the U.S. and will continue to process Bank of America’s commercial credit card portfolios in the U.S. and Internationally. For this, Bank of America will utilize TSYS’ “TS2” core payments engine and its customized processing solutions to include risk and financial management and business intelligence delivered through a dedicated support team. TSYS currently processes Bank of America’s commercial and small business card portfolio on its TS2 platform, and that relationship will continue under the new agreement, and plans to complete the conversion of Bank of America’s consumer card portfolio from its in-house processing system in mid-2014.

Bank of America Launches iPad App

5, Country, Priority, UNITED STATESBy Robert McKinley 06/14/2012

Bank of America Merrill Lynch has introduced its “Paymode-X” iPad application for its clients utilizing the all-digital online payment and invoicing system. This offers real-time access to critical corporate payments information and allows users to stay connected and informed, make decisions, and take the actions needed to ensure that their payment and settlement cycles continue to flow smoothly. The iPad release is the most recent innovation for Paymode-X, and is the first phase of a comprehensive set of mobile capabilities that BofA Merrill, in collaboration with Bottomline Technologies, plans to bring to market. The “Paymode-X” solution combines electronic purchase order submission, invoicing and payment settlement on a single platform.

Bank of America to Sell Remaining Interest in Archstone

8, Country, Priority, UNITED STATESBy Robert McKinley 05/25/2012

Bank of America announced that it and Barclays Bank PLC have entered into an agreement with Equity Residential and Lehman Brothers Holdings Inc. pursuant to which Bank of America and Barclays will sell their remaining 26.5 percent interest in Archstone, a privately-held owner, operator and developer of multifamily apartment properties, for a purchase price of…

Bank of America Serves 10mm mBanking Customers

3, Country, Priority, UNITED STATESBy Robert McKinley 05/24/2012

Over 10 million Bank of America customers are now using mobile banking, representing growth of nearly 3 million active users over the last 12 months. Bank of America’s mobile banking customers have the ability to check account balances, transfer funds, pay bills and find the closest ATM, all from their mobile device. Bank of America was among the first to launch mobile banking apps for Apple, BlackBerry and Android devices and the only bank that has deployed a tablet‐specific app for all three platforms: Apple, Kindle and Android.

Bank of America Small Business Owner Report Shows Boston Biz Confident

8, Country, Priority, UNITED STATESBy Robert McKinley 05/17/2012

Bank of America released its inaugural Small Business Owner Report1, a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country. The survey, which includes an oversampling of small business owners across the Boston market, found almost half (46 percent) of small business owners are confident the Boston economy will…

Bank of America Names Maine State President

8, Country, Priority, UNITED STATESBy Robert McKinley 05/15/2012

Bank of America Enterprise Marketing and Market President Executive Meredith Verdone announced today that Bill Williamson has been named Maine state president. A native who has called Maine home for most of his life, Williamson has been with the company since joining a predecessor institution in 1981. As state president, Williamson will help integrate Bank…

Bank of America Launches Three Travel Rewards Credit Cards

2, Country, Priority, UNITED STATESBy Robert McKinley 05/08/2012

Bank of America is launching three new travel rewards credit cards that give consumers and small businesses the flexibility to use points to pay for a variety of travel expenses, including flights, hotels, vacation packages, cruises and rental cars. They include the BankAmericard Travel Rewards™, BankAmericard Privileges® with Travel Rewards, and WorldPoints® Travel Rewards for Business and charge no foreign transaction fees, no expiration on points and no blackout dates. All three travel credit card programs include no limit on the total number of points earned and no expiration on points; no blackout dates; ability to purchase travel through any website or travel agent; 24 hour travel and emergency assistance; auto rental collision damage waiver; travel accident insurance and lost luggage reimbursement; complimentary access to concierge service.

IJJ Corporation On-line Shopping Cart Now Using BofA Merchant Processing

8, Country, Priority, UNITED STATESBy Robert McKinley 05/04/2012

IJJ Corporation sent the following announcement: the On-line Shopping Cart is using Bank of America for its Merchant Processing Services. Bank of America Merchant Services enables payment solutions where and how our customers want to pay: credit cards, debit cards, electronic checks, gift cards, and other payment options. Becoming a Bank of America Credit Card…

MarcoSolve files patent infringement Against BofA

8, Country, Priority, UNITED STATESBy Robert McKinley 04/25/2012

MacroSolve, Inc., a leading provider of mobile technologies, apps and solutions for business, today announced its latest patent infringement suits filed against AOL, Inc., and Bank of America Corporation. MacroSolve’s suit claims that both companies infringed upon its U.S. Patent No. 7,822,816. “We continue to successfully settle suits,” said MacroSolve Vice Chairman, Jim McGill. “Both…

MoneyGram Announces Closing of Secondary Offering

7, Country, Priority, UNITED STATESBy Robert McKinley 11/28/2011

MoneyGram International global payment services company closed the previously announced underwritten secondary public offering of an aggregate of 9,250,000 shares of MoneyGram’s common stock by affiliates and co-investors of Thomas H. Lee Partners, L.P. and affiliates of Goldman, Sachs & Co. at a public offering price of $16.25 per share. In conjunction, MoneyGram made a partial redemption of its 13.25% Senior Secured Second Lien Notes due in 2018, held by affiliates of Goldman, Sachs & Co, in a principal amount equal to $175 million. The partial redemption was made at a redemption price of 113.25%.

Debit Card Law Forces BofA & Citigroup Casualties

6, Country, Priority, UNITED STATESBy Robert McKinley 11/18/2011

US banks of all sizes are backing off the new monthly fees. Banks began instituting monthly fees in response to last year’s Dodd-Frank legislation that limited the amount of money banks could charge merchants for individual transactions. Banks skirted the legislation by charging a flat monthly fee to use debit cards in order to recoup some of the losses. The move to drop monthly debit card transaction fees will certainly help the public image of regional banks. Bank of America abandoned plans to charge $5 a month for debit cards after a nationwide backlash from consumers and lawmakers. With this, Citigroup is considering plans to cut 3,000 or more workers as part of an ongoing effort to control expenses. About 900 of the cuts would be in the company’s securities and banking division, which serves institutional clients.

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Abdulaziz AIDahmash, Head of Digital Banking & Payments of SABB in Saudi Arabia, will speak at the 10th Annual Middle East Banking Innovation Summit in Dubai on March 1st. pyvnts.com ecommerce payments pic.twitter.com/G2RWUjYnsd

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Dr. Shiva Narayan, CEO of iBank, will speak on "The Next Goldrush: Data and Business Intelligence" at the London-based Artificial Intelligence in Finance Services Virtual Event, February 3rd. ecommerce #payments pyvnts.com pic.twitter.com/DxNvO0kcgH

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