CardFlash News Briefs: PANGEA (D2D); PAYSWAG (Cloud); SEAMLESS (JYSK); and PERK (ZTE).
Moneris, one of North America’s largest processors of debit and credit card payments has certified all unattended self-serve payment kiosks for Union Pearson Express (UP Express).
Global processing powerhouse First Data had a busy year with nine contract extensions, a new German contract, and expanded nine partnerships. FDC also introduced three new products: Clover Station, VisionPLUS Flex, and Go Daddy Payment Solutions, plus upgraded a number of existing products. FDC also acquired Perka and took 100% ownership of JV. The Company also had three CEO’s during 2013 and received two major awards. Annual revenues also increased slightly in 2013, after two level years.
Thanks to MyBank, the customers of Zurich Connect in Italy can now pay their insurance premiums via online and mobile banking safely and simply through their bank.
MyBank will allow to all the holders of a current account opened within many banks now enabled to acquirer via online their insurance premiums on Zurich Connect site with just a couple of clicks. By offering MyBank on its website, the online insurer provides its customers in Italy with a convenient and secure payment method based on the online banking environment they know and trust. The cooperation between Banca Sella, that offers MyBank payment option throughout GestPay Payment Gateway, and the Italian online company Zuritel, owner of Zurich Connect brand, (http://www.zurich-connect.it/), has made possible for the largest insurance company in Italy to offer payments via MyBank.
CardLinx, which facilitates the interoperability and growth of card-linked offers and Deem cloud commerce announced a new draft protocol. The CardLinx Chameleon Standard, for pro-actively combating fraud resulting from returns of CLO purchases is designed to strengthen the card-linked industry by protecting merchants from offer misuse. The new standard addresses when a rebate reversal should occur and capabilities for automatic reversals. It also establishes data reporting requirements that will enable detection of fraud patterns and fraudsters in real time. The CardLinx™ Chameleon Standard will play a critical role in card-linked commerce at a time when transaction security has become increasingly important.
While the U.K. has done very well in a recovery, expanding by 3% this year, the country is still dealing with a downturn in exports, persistent unemployment and lower productivity. While, the current OECD Composite Leading Indicator (CLI) for the U.K is 1.9% for September, it will likely drop to 1.8% for the fourth quarter according to RAM Research. The Bank of England says it has no plans to make any changes in interest rates or policies anytime so, reflecting the U.S. domestic stance. The CLI is a subset of Main Economic Indicators and comprises a set of component series selected from a wide range of key short-term indicators. The CLI is designed to provide qualitative information on short-term economic movements, especially at the turning points, rather than quantitative measures. Therefore, the main message of CLI movements over time is the increase or decrease, rather than the amplitude of the changes. Rate of change at end of the calendar quarter month compared to the corresponding year-ago month. Not Seasonally Adjusted.
Inflation in Canada is finally slowing down. The latest Canadian Consumer Price Index shows a 0.7% rate, compared to 1.1% In September. Canada’s economy is picking up slowly, at a rate close to the USA, 2.7% for the third quarter compared to 2.8% in the USA. The devastating Alberta flooding and Quebec’s construction strike were definite drags in the third quarter. Statistics Canada reports employee pay rose 80 basis points in Q3, compared to 40 basis points in Q2. RAM Research predicts Canada’s CPI will fall to 0.7% by year’s end.
Australia, the world’s second wealthiest economy, is cracking a bit. The labor market is deteriorating in Australia and consumer spending is softening. Despite cutting the benchmark interest rate to 2.5% Australia’s real gross domestic product (GDP) growth will likely run at 2.4% and stay stuck in the mud for the foreseeable future. According to Reuters, except for just one quarter of negative growth, Australia actually grew by 1.4% in 2009. Last year, growth amounted to 3.3%, whereas unemployment was 5.2%. RAM Research predicts the Consumer Price Index (CPI) will fall to 1.2% for the fourth quarter.
First Data electronic commerce and payment processing renewed its processing contract with DAB Bank AG, a subsidiary of UniCredit Bank AG and part of UniCredit Group, for a further five years. First Data will continue to be responsible for delivering card processing services for DAB Bank AG’s MasterCard Classic, MasterCard Gold, MasterCard Platinum and MasterCard World Signia. First Data will also continue to provide a range of technical services for processing electronic payment transactions including account processing, authorizations, transaction processing, accounting and fraud prevention, as well as operational services such as contact centre services, emergency card replacement services and disputes handling for DAB Bank AG cardholders.
Equens was elected by the Finnish OP-Pohjola Group as new card processing partner. Both parties signed a long-lasting contract for card services.It is highly exceptional that a bank actually acts upon the SEPA European level playing field by switching from processor. With OP-Pohjola as new client for card-related processing services Equens will create a clear footprint in the Northern European cards market. Expectations are that the first card transactions will be processed in Q4 2014. OP-Pohjola already had an agreement with Equens for the processing of SEPA payments as well as their regular cross-border euro payments since 2008. With this new agreement OP-Pohjola Group will also entrust their debit and Visa Electron card processing to Equens. Equens card and payment processor processes 10.4 billion payments and 4.4 billion card transactions, operating over 61 million payment cards, 873,000 payment terminals and 21,000 ATMs.
BPC Banking Technologies Open System e-payment solutions for the global financial industry and Alfa-Bank launched an innovative, contactless payment service based on NFC technology for Russian telecom operator Beeline. This new service, using MasterCard PayPass Mobile, enables customers to quickly and securely pay for purchases with their mobile phone. The new solution is available for use on a wide range of handsets and is currently being pilot-tested for the Bank’s customers. Powered by SmartVista, which underpins the Bank’s entire payment processing operations, this new solution was developed very quickly and is seamlessly integrated for smooth and risk free operation.
EBA CLEARING has issued a call for participation in its MyBank E-mandate Pilot to banks and service providers at the EBAday payments conference to test the MyBank E-mandate solution for SEPA Core Direct Debits with regard to reliability, security and usability. The testing will involve banks, service providers and corporates which will ensure in co-operation that the different components of the MyBank E-mandate solution work together seamlessly before the solution will be rolled out. Service providers can participate in the testing either directly or through a partnership with a participating bank. Banks are invited to join the pilot with a corporate customer to ensure that the end-to-end testing fully meets the requirements and expectations of all stakeholders.