MasterCard launched a Reloadable Hajj Prepaid Card Premier Bank Bangladesh Ltd for pilgrims and Hajj Agencies. Premier Bank Ltd is a top issuer of prepaid cards for Hajj pilgrims & Hajj Agencies in the country. It has branches across the country including all major cities like Dhaka, Chittagong, Cox’s Bazar, Sylhet, Comilla, Rajshahi, Rangpur. MasterCard Reloadable Hajj & Travel Prepaid cardholders will enjoy some exclusive benefits while using the card. Present at the event were honorable Secretory, Ministry of Religious Affairs, Chairman, Parliamentary standing committee for Ministry of Religious Affairs, , President & General Secretary of Hajj Agencies Association of Bangladesh (HAAB), Dr. H.B.M. Iqbal, Chairman, Premier Bank, CEO & Managing Director, Independent Director, Additional Managing Directors & Deputy Managing Director of Premier Bank, Vikas Varma, Area Head, South Asia, MasterCard, Syed Mohammad Kamal, Country Manager, Bangladesh and other senior Officials from MasterCard & Premier Bank.
Banks and building societies have put in place standard central processes and defined maximum timescales to help customers recover money. When a customer notifies their bank or building society that they have made an electronic payment to the wrong account, action will commence on the customer’s behalf within a maximum of two working days. If a bank is unable to reclaim funds immediately – for instance if the recipient disputes its return – the customer will be notified of the outcome of their bank’s investigation in a maximum of twenty working days from the point of enquiry and in many cases much sooner. If funds cannot be recovered through the standard central process customers will be given clear and accurate information on the options they have available to them – such as court action against the recipient. Banks and building societies will ensure the design of online, mobile and telephone payment channels reduce the risk of a customer making a mistake. This might involve: customers being asked to input account details twice; extra warnings about using the correct account details; or prompting customers to check payment details that have not been used for some time so that they can be updated or deleted as necessary.
Secure Electrans payment solutions has received Government support for its Chip&PIN home terminal as a practical way to reduce fraud. Secure Electrans’ HomePay™ Chip&PIN system received support from the UK Government’s Communication Electronics Security Group (‘CESG’) working in partnership with the Europe-wide Open Standard for Security and Certification (‘OSeC’). Secure Electrans has been working closely with both regulatory organisations alongside industry competitors in efforts to raise standards via the implementation of an Evaluation and Certification Framework. This aims to implement a single scheme for security in payment terminals and cards, incorporating recognition of multiple security certification card schemes and banking organisations. HomePay™ operates through the multi-billion pound global and trusted Chip&PIN infrastructure, and has the potential to create a standardised payment processing architecture for online transactions.
MasterCard appointed Mohammed Qadadeh VP, Head of Government Services and Solutions (GS&S) in Middle East and North Africa. The announcement is an integral aspect of MasterCard’s ongoing efforts to strengthen its investments in the government sector across Middle East and Africa. Here he will lead the expansion of the company’s government business by leveraging MasterCard capabilities to solve governments’ needs for efficiency, social progress, financial inclusion and overall transparency. Qadadeh held a number of managerial roles in the MasterCard Technologies and Operations division during the past 12 years, where he helped shape technology strategy and vision across various platforms, including the MasterCard Data Warehouse, Global Cardholder Solutions and Rewards, most recently as regional Chief Technology Officer, where he played a key role in driving MasterCard’s technology strategy across Middle East and Africa since 2011, starting with the Africa board’s strategy vision, planning, and execution.
Fiserv financial services technology solutions has launched a payment accuracy and fraud solution to reduce improper payments for U.S. federal government agencies. The professional services engagement will allow government agencies to reduce the overall loss of cash associated with improper disbursement and recovery of funds, thereby enabling that money to instead be used for citizens and tax-payers. Improper payments can include payments to the wrong person, for the wrong amount, or to citizens who are no longer eligible for benefits. An estimated one-third or more of improper payments are due to fraud, while two-thirds are the result of errors or incorrect information. Using a rigorous process and data analysis, the Fiserv solution finds and eliminates process variation, waste and opportunities for error that may result in payment inaccuracy.
Visa shares slipped as U.S. payments volume growth was down 3% in April and flat so far in May over the year ago period thanks to new government regulation limiting card network processing fees. The Dodd-Frank legislation has effectively cut debit-card volume growth 12%. In direct response to the new law, Visa cut its merchants…
Smart card identity and security ID leaders at the federal, state and local levels gathered at the Smart Card Alliance 9th Annual Smart Cards in Government Conference in Washington, D.C. to share status updates and lessons learned for projects underway. Main points touched on include the emerging National Strategy for Trusted Identity in Cyberspace (NSTIC), putting Personal Identity Verification (PIV) credentials to work for physical and logical access and identity management in healthcare. The NSTIC document will be ready for President Obama’s signature this winter to take advantage of the work done on the PIV and PIV-I (PIV-Interoperable) standards, which underlie the two-factor authentication credentials already widely used by the federal government and increasingly adopted by states and commercial organizations. With more than 75 percent of federal employees and contractors now carrying a smart card-based PIV credential, the focus is shifting to putting those cards to use for physical and logical access control. Through education programs, market research, advocacy, industry relations and open forums, the Smart Card Alliance keeps its members connected to industry leaders and innovative thought.
PayStar has inked a deal with Express Payments Solutions to provide over 10,000 branch locations for replenishing funds on its stored value debit ATM cards and prepaid MasterCard accounts. This agreement will provide cardholders with a much-needed convenient venue to replenish funds onto prepaid ATM debit cards and prepaid MasterCard accounts.
London-based Amicus reported this week that Capital One terminated its telemarketing contract with Wipro Spectramind, India’s largest call center operator, after the staff offered US customers unauthorized credit limits. Capital One indicated there were problems with one vendor over its standards. The Financial Times reported that 30 employees were terminated as a result of the contract breach. About 600 Wipro Spectramind employees were reportedly involved with the Capital One contract. Amicus says the move by Capital One is the latest in a line of companies with outsourcing problems. Other include Littlewoods, Dell and Lehman Bros. Amicus says there are increasing fears around the safety of data being processed in India after the Evening Standard reported that criminal gangs are bribing Indian staff with a years wage to steal credit data from UK customers. Amicus says several unions have come recently together to launch an independent commission of inquiry into offshoring work in the financial services sector.
London-based Amicus reports that Capital One has terminated its contract with Wipro Spectramind, India’s largest call center operator, after the staff offered US customers unauthorized credit limits. The Company says the move is the latest in a line of companies deserting India including Littlewoods, Dell and Lehman Bros. There are increasing fears around the safety of data being processed in India after the Evening Standard reported that criminal gangs are bribing Indian staff with a years wage to steal credit data from UK customers. Amicus says several unions have come recently together to launch an independent
commission of inquiry into offshoring.