The fastest growing region for MasterCard is getting a new payments processing center and new general multi-country manager. The APMEA region’s Gross Dollar Volume (GDV) for the first quarter 2014 (Q1/14) grew nearly 19% year-on-year (Y/Y).
Fiserv announced the International Bank of Qatar (IBQ) selected its Financial Crime Risk Management (FCRM) Platform to manage its money-laundering and fraud prevention strategy. For IBQ, the vast global experience of Fiserv in mitigating risk related to financial crime was a key factor in the selection. With more than 1,000 financial institutions already using the FCRM Platform worldwide, this knowledge and experience is a vital component of the partnership to help the bank achieve the highest standards of anti-money laundering (AML) compliance and fraud prevention. The FCRM Platform provides unique abilities for financial crime professionals to effectively and efficiently model, detect, investigate and resolve risks across crimes, channels and product lines.
Consumers in select countries can buy American products from U.S. retailers and ship them abroad using PayPal and MyUS.com in 13 countries. The company is also offering a discounted membership fee and shipping incentive for ALL new customers that sign up prior to December 20th. MyUS.com already serves global customers in over 220 countries and handles millions of packages annually. MyUS.com makes it easy and secure for consumers worldwide to shop US retailers and save up to 80% on international shipping costs. Consumers pay for shipping using credit card, check, money order, wire transfer and now PayPal. MyUS.com is offering 50% off its premium membership fee for year one and 20% off its first shipment for ALL new members (all countries) that sign up before December 20, 2013. Offer good for new members only; 20% discount does not apply to USPS shipments. To take advantage of this offer, visit www.myus.com/paypalpromo or use coupon code “paypalpromo” when registering.
Seamless is expanding its SEQR mwallet, a collaboration with bpost bank to allow consumers to connect their bank account to SEQR’s versatile and generic mobile payment solution. SEQR enables anyone with a smartphone to pay in stores, online, at restaurants, utility bills and parking lots, transfer money at no charge, store receipts digitally and receive offers and promotions directly – through one mobile app solution. McDonald’s is the first to roll out and will make SEQR available in all of its Belgian restaurants at the time of launch in the spring of 2014. bpost bank will offer its customers the ability to connect SEQR’s mobile payment application to their bank account. This will allow them to make payments in stores and online quickly, securely and without charge. Through the SEQR app, the user simply scans or taps a QR-code/NFC at the check-out of partnering merchants and approves the purchase by entering a PIN code. SEQR is a generic payment method, independent from existing payment structures, that enables merchants to lower their interchange fees significantly compared to those charged by traditional card companies; a win-win-win for all parties.
As part of its massive humanitarian response to the Syrian crisis, the United Nations World Food Programme (WFP) is rolling out an innovative electronic voucher programme in Lebanon that will allow hundreds of thousands of Syrian refugees to meet their food needs and help boost the local economy. By the year’s end, some 800,000 refugees will be using these electronic cards – or “e-cards” – at participating shops in Lebanon under an initiative realized with the technical support of WFP’s private sector partner, MasterCard. The e-card collaboration is part of a larger, multi-year partnership with MasterCard, launched in September 2012. It twins MasterCard’s prowess in electronic payments systems with WFP’s vast experience assisting the planet’s hungriest and most vulnerable people.
Discover Financial Services and Network International payment solutions provider announced a strategic alliance that will allow Mercury Network Card acceptance on Discover, Diners Club International and PULSE networks for international purchases and cash access outside of U.A.E. These agreements focus initially on enabling Mercury Cards on the DFS networks, which include Discover Network, Diners Club International, PULSE and other partner networks, to provide acceptance in more than 185 countries and territories. Network International formally launched the Mercury Network scheme on April 22, 2013, with the introduction of a pre-paid card in the U.A.E. which will allow companies to remunerate employees who do not have access to traditional banking services. The agreement with Discover will allow Network International to support credit and debit cards on a global basis.
Polaris Financial Technology announced Mashreq deployed its revolutionary Intellect Global Transaction Banking (GTB) platform. The integrated cash management platform through portal and backend modules allows the Bank to offer its customers’ transaction banking services on a single platform in multiple countries in the Region. With Polaris’ multi-country and multi-currency enabled Intellect GTB solution, Mashreq can offer new products such as liquidity and trade via a unified portal. The solution facilitates a global transaction banking implementation on a single instance of the application, improving the Bank’s ability to scale up transaction banking operations by three times their current capacity. Through this portal, the Bank offers a single window to their corporate clients for services related to accounts, payments, liquidity, collections and trade.
ACI Worldwide launched its “Money Transfer System 5.0” wholesale banking solution, designed to give financial institutions flexibility in defining and managing their payment processing flows. This was developed as the result of a large scale collaborative effort between ACI and a number of its customers whose design input and suggestions were included in the final version. Money Transfer System is one of many ACI products in the company’s broader payments platform to deliver on this approach. It also provides Repair Reporting to explain to customers how to correctly format transactions in order to reduce expensive repair activity; SWIFT Network Validation Kit validation on messages received through a back-end interface; and Expanded Global Clearing Channels, expanding the suite of global clearing channels available.
mopay payment solutions for online merchants deployed its large-scale network extension initiative in the Middle East & North African (MENA) region. The company’s approach is backed by superior online growth numbers, the absence of alternative payment methods and a lack of customer confidence in conventional payment methods. mopay’s MENA coverage includes Bahrain, Egypt, Jordan, Kuwait, Lebanon, Libya, Morocco, Qatar, Saudi Arabia, Syria, Tunisia, Turkey, the United Arab Emirates and Yemen. Saudi Arabia, the United Arab Emirates and Qatar are the leading MENA countries in terms of online users and online penetration.
UAE Exchange and UNICEF announced their renewed association for the cause of underprivileged children in 2012 to donate USD 100,000 to UNICEF for the cause. The contribution will be sourced from remittance transactions sent through UAE Exchange branches in UAE, Oman, Kuwait, Qatar and Bahrain, during the holy month of Ramadan, without levying any extra charge on the customers. UAE Exchange is a remittance and foreign exchange brand with operations across 30 countries, built over 30 years. The organization has been instrumental in aiding those affected in natural disasters and other social issues. UNICEF, with its strong presence in more than 150 countries and territories, is known for its initiatives to bring good health, education and protection to all underprivileged children across the world.
GuestLogix onboard retail and payment technology solutions to airlines and the passenger travel industry is set to deploy its onboard retailing technology and POS handheld devices to power Jet Airways’ in-flight duty free program, JetBoutique, in conjunction with Inflight Sales Group (“ISG”), a global pioneer of airline concession operations. The Jet Airways implementation represents more than 14 million annual passenger trips for GuestLogix. The Indian carrier will use the integrated solution to manage cash and credit card payments of duty free items onboard.
Boubyan Bank, a leading Islamic bank in Kuwait, has licensed Paragon’s ATM configuration management software ConfigBuilder through Paragon’s partner in the Middle East, International Turnkey Systems. Boubyan Bank required a solution to enable them to edit and manage their ATM configuration load files and to test the ATM configuration flows from a PC. Using ConfigBuilder,…