Visa announced the opening of a new technology development center in Bangalore, India, that will play a central role in the company’s efforts to accelerate digital commerce globally.
India’s HDFC Bank, has intoduced its one-click payment platform called PayZapp, as part of its ‘GoDigital’ strategy.
India’s Financial Software and Systems has inked a deal with Entrust Datacard for instant, in-branch card issuance solutions to support various social security and financial inclusion initiatives.
CardWeb.com’s CardData Reports today features the The Cards and Payments Industry in India: Emerging Trends and Opportunities to 2019 report. The report provides values and volumes of a number of key performance indicators (KPIs) operating in the industry, including credit transfers, check payments, cash transactions, payment cards and direct debits during the review period (2010-2014).
Xoom Corporation today announced a partnership with HDFC Bank Limited (HDB), by offering instant deposits to INR denominated HDFC Bank accounts in India. This breakthrough service allows Xoom customers to instantly deposit money directly into their recipients’ HDFC Bank accounts in India. The instant service is available 24 hours a day, seven days a week, 365 days a year–even on banking holidays.
Financial Software & Systems key Payment Systems Integrator announced a landmark technology upgrade for the bank, having implemented and integrated ACI’s BASE24 transaction switch application ver 6.10. The bank also upgraded the software to run on the high-end HP NonStop NB54000c Blade System which will help SBI increase its ATM network from 30,000+ to over 60,000+ ATMs in the next two to three years. SBI’s ATM expansion plans will actively support Government of India / Ministry of Finance ambitious mission to increase ATM penetration in the country of which SBI has the largest contribution. FSS has furnished SBI with multiple upgrades to the transaction switch to scale and handle several thousand ATMs and have upgraded their debit card management and reconciliation systems from FSS to process the card lifecycle for over 100 million+ cards.
ACI Worldwide announced the winners of the 2013 ACI Excellence Awards. The fourth-annual ACI Excellence Awards recognizes financial institutions, processors and retailers for innovative and transformative uses of ACI solutions to solve real-world customer and business issues. Judged by a select group of payments experts, winners include Union Bank of India for Overall Excellence, Federal Bank of India for Product Innovation, Mercantile Bank of Michigan for Mobile Banking and Payments, HDFC Bank for Operational Excellence in Self-Service, Bankart d.o.o. for Operational Excellence in Fraud Management and the Palmetto Bank for Customer Experience.
Fundtech global transaction banking solutions announced its “Global CASHplus” won The Asian Banker’s award for Best Corporate Payments Implementation Project. The solution provides a real-time web services-based channel, which enables the bank’s partners to aggregate remittance transactions and send them to HDFC Bank in a secure environment. The Global CASHplus provides a high degree of automation replacing many time-consuming manual processes, automated transaction initiation, automated acknowledgement, rejections where necessary and online transaction status. It provides cash management, financial supply chain and trade, and remittances solution. The platform offers an integrated suite of features with rich functionality and scalability that is deployed on a modular basis.
NCR Corporation and Bank of New Zealand have jointly won the ‘Best ATM Installation and Management Project’ at the Asian Banker 2012 Technology Implementation Awards. This is the third consecutive win for NCR and recognizes Bank of New Zealand’s world-first deployment by a financial institution of NCR Predictive Services, a unique technology that anticipates ATM failures before they occur and proactively schedules fixes to maximize uptime. BNZ has reduced the downtime of its ATMs by a third and is now achieving network availability of nearly 99 percent, translating into an extra 20,000 hours of ATM uptime across the BNZ network.
Discover Financial Services (DFS) and National Payments Corporation of India (NPCI) have entered a strategic alliance resulting to accept Discover cards and Diners Club International (DCI) cards at NPCI ATMs and POS terminals. It also will allow RuPay national card payment network cardholders to use the Discover, Diners Club International and PULSE networks for international purchases and cash access. POS and ATM transactions by RuPay network cardholders within India will be processed on the RuPay network. Outside of India, RuPay Global Card transactions will be processed on the Discover, Diners Club and PULSE ATM networks. The long-term agreement will result in increased transaction volume on NPCI’s ATM and on their soon-to-be implemented POS network in India, as well as increased transaction volume on the Discover, Diners Club and PULSE networks.
Movida m-payments joint with Visa and Monitise inked an agreement with HDFC Bank to introduce its mobile payment service, letting users pay bills, top up prepaid airtime and buy tickets from their mobile phone. Implementing menu-based USSD mobile technology (protocol to communicate mobile phones with service provider computers), cardholders can access the service over Movida’s secure connection. Its secure and encompasses various security measures to maintain account integrity, including a unique PIN number set up on the phone to access the account information. Only the user’s bank-registered phone can be connected to the service.
HDFC Bank and Vodafone India launched HDFC Bank MobileBank Account with Vodafone “m-paisa” nationally from the tehsil of Chomu. HDFC Bank has appointed a Vodafone India subsidiary company as a Corporate Business Correspondent, thereby allowing the telco’s select retailers to represent the bank as sub-agents. By providing banking transactions at such sub-agents, this HDFC Bank-Vodafone India partnership effectively delivers last mile access to remote areas and open HDFC Bank “MobileBank Account” with Vodafone “m-paisa.” This allows customers to perform basic banking transactions on the mobile phone and even deposit and withdraw cash.