In today’s CardFlash News Que: CYBERSOURCE (LINE); EVED (EvedPay); CHILI’S (mPay); and CUP (spending).
Bank of Mongolia (BOM) and JCB have inked a system network agreement for T-Card JCB credit and debit card issuing. Mongolia’s economy is growing fast and the country is seeing an increase in overseas travel for both business and leisure. In 2013 about 1.35 million Mongolian people traveled to nearby Japan, China, Korea and Russia, where JCB has a strong presence.
National Payments Corporation of India (NPCI) and JCB International (JCBI) have inked a deal for acceptance of JCB card at all NPCI acceptance locations under the NPCI network, which has 1 million card merchants and 200,000 ATMs across India.
The first JCB in Austria is being launched by card complete Service Bank. card complete is the leading Austrian market player with more than 1.3 million Visa and MasterCard cardholders.
Pakistan’s largest payment system by market share has entered into a strategic partnership to introduce JCB debit cards in Pakistan.
This initiative is a valuable addition to 1LINK’s portfolio of international payment programs which include Visa, MasterCard and China-based UnionPay International.
Beijing-based China UnionPay has been added as a payment option for Apple App Store. The total number of UnionPay Cards issued both at home and abroad has exceeded 4.5 billion.
Brussels-based Trionis, the pan-European inter-bank processing network, plans to build a gateway to enable JCB merchant acquirers across Europe to connect with the JCB payment network. The gateway will be operational in Q1 2015.
BPC Bank announced EthSwitch has chosen SmartVista to power its national switching operations. SmartVista was selected because of its comprehensive functionality, advanced technology and proven track record in helping payment businesses worldwide capitalize on opportunities presented by the changing payments landscape. EthSwitch was formed by all the banks in Ethiopia, and with the backing of the Ethiopian Bankers’ Association and the country’s central bank known as the National Bank of Ethiopia. EthSwitch aims to connect all banks to a central transaction switching platform that will provide customers with access to their money and other financial services via any ATM, Point of Sale (POS) device, mobile and Internet channels, regardless of which bank issued their card or in which bank their account is kept.
First Women Bank migrated its ATM switch and Card Management in-house, after staying into an outsourced setup for many years.TPS worked closely with the bank and provided both the technology as well as the technical and business consultancy. Successful migration has not only improved its products and services but also lowered the recurring costs and proved to be more reliable. In-house setup improves control over operations and quality of service; reduces time to market new initiatives, removes the risk of sharing confidential information to an external entity and facilitates enhancements of products and services as per bank’s roadmap.
Polaris Financial Technology LTD iGTB division announced the launch of its NACH-ready India Payments solution. The solution is compliant with major payments systems in the country including National Automated Clearing House (NACH), Next-Generation Real Time Gross Settlement (NG-RTGS) and National Electronic Funds Transfer System (NEFT). With the emergence of NACH, a high rate of adoption is foreseen making it imperative for banks to have a strategic roadmap for the adoption of NACH. This would include product innovation, operational reconstructs and cutting edge technology adoption. NACH-ready India Payments solution contains NACH Mandate Manager, Transaction Processor for NACH, NG-RTGS, NEFT and APBS along with other standard features such as cross-border transactions and host-to-host connectivity. It is a web-based solution to facilitate inter-bank, high volume electronic transactions that are repetitive and periodic in nature. It facilitates centralized mandate management, direct debits and bulk payments processing.
China UnionPay, the national bankcard association in China, reached a number of milestones in 2013 and is now accepted in more than 140 countries and regions and covering more than 10 million POS terminals and 1.1 million ATMs outside of China. Over 24 million UnionPay cards have been issued in about 30 overseas markets. Among major developments last year: The first UnionPay card was issued in Africa; the first time UnionPay has come into cooperation with an international tourism retail group; the first UnionPay credit card is issued in North America; the first time that CUP has cooperated with a local institution in Nigeria to expand the acceptance of UnionPay cards on a large scale; the first UnionPay debit card issued in Australia; and the first UnionPay travel card outside China is issued in Singapore.
WAY4 software from OpenWay Group is chosen as a solid technical foundation for the National Payment Switch of Bangladesh. Its partner Infotech signed a contract with Bangladesh Bank to carry out the implementation of the new infrastructure to increase the transparency of internal and cross-border electronic payments, optimize all regulatory and supervisory procedures, and reduce related costs. Commercial banks having an ATM/POS/e-Payment Gateways/Mobile payment switches or being connected to any other shared switch network will be able to send inter-bank payment instructions to the NPS for clearing and settlement purpose.