United Thinkers announced Gift and Loyalty Card Features, the addition of Check 21 and pending Digital Currency Processing Integrations.In addition to existing Credit, Debit, Pre-Paid, and EBT Card Processing functionality, UniPay now supports Private Brand Gift, Loyalty and Combo Cards to meet the growing demand for these card types in the Electronic Payment Transaction Processing Market. The UniPay Platform provides a unified processing API for handling of credit cards, debit cards, EBT cards, pre-paid cards, gift, and loyalty cards, including management of points and rewards. This additional functionality makes UniPay the only product available where the structure and format of all basic operations remain the same across all Card Types as well as ACH Processing. The UniPay UniCharge Module is an advanced Processing and Remittance Engine supporting advanced functionality needed for transaction processing through a wide network of Processors and Gateway Partners.
United Thinkers open-source Payment Management Software provider has partnered for expansion. Its UniPay Gateway facilitates transaction processing in Europe, North America and Australia, while in the future the company plans to expand its transaction processing operations to South America and Africa through its Partnership Licensees. The UniPay platform facilitates transaction processing on an open-source nature, affordable cost, and richness of offered feature set, as well as the advanced API’s and wide variety of Code Samples for easy integrations. The UniPay UniCharge Module is an advanced Processing and Remittance Engine supporting advanced functionality needed for transaction processing while the UniPay UniBill Module supports sophisticated Recurring Revenue Management capabilities, including Recurring Billing Support for any Payment Plan, Decline Recycle, Retry, and Recovery, Automated Credit Card Update Services, Automated Reserve Management, as well as Integrated Collections Management.
International Bank of Chicago, the wholly-owned subsidiary of IBC Bancorp, Inc. announced that it has acquired certain assets and liabilities and the banking operations of Premier Bank in an FDIC-assisted transaction. Premier Bank, which currently operates two locations in Illinois – Wilmette and the near west side of Chicago, had approximately $269 million in total…
MasterCard Worldwide and Microsoft partnered to deliver increased technology and payment services to small businesses. With this, MasterCard becomes a member of the partner program for “Office 365” cloud productivity service. Giving small businesses access to e-mail, documents, contacts and calendars from virtually anywhere on almost any device, “Office 365” is backed by robust security, reliability and control. MasterCard will provide a 10 percent savings to eligible small business cardholders when they purchase “Office 365” through the MasterCard Easy Savings Program. The MasterCard Easy Savings Program provides eligible small business cardholders with savings on some of the most popular services that help them run their businesses. For terms and conditions, go to easysavings.com.
VSoft Corporation announced SELCO Community Credit Union selected its check processing solutions, citing the flexibility of its full suite of RDC products. SELCO is implementing back office services with VSoft’s “VServe” global data center, which delivers the solutions as either an ASP or a hosted model. Long-term, the credit union plans to operate check processing functions in-house. With “VServe,” SELCO can expect a smooth transition when it is ready to bring check processing in-house because it will maintain the exact VSoft products. It provides an outsourcing alternative that each can manage directly, easing the transition to RDC.
Selco Community FCU implemented the VSoft check processing solutions. With this, SELCO is implementing back office services with VSoft’s global data center, VServe, which delivers the solutions as either an ASP or a hosted model. Long-term, the credit union plans to operate check processing functions in-house. With VServe, SELCO can expect a smooth transition when it is ready to bring check processing in-house because it will maintain the exact VSoft products. VServe provides SELCO and more than 60 other financial institutions with an outsourcing alternative that each can manage directly, making the transition to RDC an easy one.
Citigroup, through its Global Transaction Services unit, signed an agreement with Moneystar, which has subsequently started disbursing micro loans to eligible loan applicants using Citi’s Visa Prepaid Card. Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.
Bank of America kicked off its suite of small business charge cards to give small businesses more choice and control over their payment and expense management, including “Business Charge,” “Business Charge with WorldPoints Rewards” and “Business Preferred World MasterCard.” Offering businesses greater control over expenses without finance charges, the cards will be available through Bank of America banking centers and at bankofamerica.com. “Business Charge” is for small business owners who want a straightforward solution for business purchases and vendor payments with no annual fee. It gives cardholders free employee cards to set individual credit limits; zero liability protection for unauthorized transactions; expense management tools and customized spending reports.
Meanwhile, “Business Charge with WorldPoints” provides all the benefits of “Business Charge”, plus the opportunity to earn one WorldPoints reward point for every $1 spent on purchases; to redeem points for cash, gift cards, travel and brand-name merchandise; charges an annual fee of $49, which is waived the first year; and has no blackout restrictions. Lastly, the “Business Preferred Charge” offers the suite’s most robust rewards options and is designed for businesses with higher monthly spending needs. The card issues 10,000 bonus points after first purchase, 10,000 anniversary points each year and no expiration on points; double points on all airline and hotel purchases for the first 12 months; direct access to a Business Preferred service specialist; and the ability to set employee credit lines and limit employee card purchases to specific merchant categories.
Metro Bank has enlisted the Trusteer Rapport secure browsing service to ensure its customers are protected and secure in their online transactions with the bank. Having experienced exponential growth since its launch in July, a key consideration in Metro Bank’s selection of Trusteer is that it is a proven security technology that can scale in a rapid growth environment moving from protecting a several thousand customers one day to millions the next. Metro Bank has the perfect opportunity to benefit from the latest technology and business practice. One such area is online banking where it believes it is important not only to secure customers accessing their bank accounts online, but also when they spend online on other websites, with the mindset that providing adequate protection for all of its customers’ online financial transactions is paramount. Trusteer specializes in Secure Web Access services.
ActivIdentity authentication and credential management announced Metro Bank will use its “4TRESS’ authentication server to secure access to the bank’s “Temenos T24” core banking solution. With “4TRESS” Authentication, Metro can significantly reduced the cost and complexity of deploying strong authentication with the bank’s online banking platform, based on “Temenos'” ARC Internet. ActivIdentity provided the “4TRESS” Authentication Server plus professional services to help Metro Bank go live with the solution, which will let the bank respond quickly to new online attacks, evolving business requirements and changing customer needs. Metro Bank gains the flexibility to meet security requirements for a wide range of deployment, end-user, and device options that are scalable to millions of users.
OBRC has partnered with Wincor Nixdorf to offer the Wincor “iCASH 50” to streamline the former’s bottle drop operations. Allowing customers to receive cash immediately for their bottle and can recyclables, Wincor Nixdorf’s “iCASH 50” is a freestanding banknote-distributing terminal that manages all cash handling and reduces costs by completely automating cash processes. The closed cash cycle eliminates the possibility of errors or manipulation when handling cash, saving time, lowering costs, maximizing resources and provides a safe and secure work environment for employees as there is no requirement for them to handle cash.
Metro Bank has implemented teller cash recycling technology from NCR Corporation, cutting the typical 40% of a teller’s time spent counting and re-counting cash significantly. With NCR’s teller “Cash Recycler”, which automate the acceptance, authentication and validation of note deposits and make the cash instantly available for dispensing to customers, the bank plans twelve further outlets in Greater London over the next two years. Running on NCR APTRA Cash Connect software in a unique thin client environment, the “Cash Recycler” give each teller an instant, individual cash drawer balance.