Visa gathered 25 Olympic and Paralympic hopefuls from around the world for a two-day Team Visa Summit and innovation showcase at the company’s headquarters in San Francisco. The Summit kicked-off Visa’s year-long program which supports Olympic and Paralympic global athletes as they train for the 2016 Games.
The Visa Board of Directors elected Lloyd Carney as a new independent director. Mr. Carney will also serve as a member of the Board’s Audit and Risk Committee.
NetSuite cloud-based financials / ERP software suites established a technology partnership with Stripe next-generation online payment system geared to enable commerce businesses to quickly and easily accept credit card payments for products and services. Stripe is at the forefront of technology innovators to push the boundaries of the next generation of commerce and to lower the bar for merchants of any size to execute transactions over the Web. The Stripe payment processing solution offers a new option to incorporate hassle-free payment functionality into SuiteCommerce, the new NetSuite commerce-aware cloud platform that enables businesses to manage B2B and B2C transactions regardless of current or future touchpoint (website, smartphone, tablet, social media).
Equinox Payments achieved PCI PTS 3.0 compliance for its L5200, L5300 and L5400 multimedia payment terminals. This will expand the scope of compliance by adding three new modules for open protocols, integration, and secure reading and exchange of data. The L5000 series can be used throughout the entire retail store. In-aisle product location, barcode price checking, gift card loading, wedding registry processing at kiosks, and health insurance card processing in the pharmacy are just a few of the options offered by this extremely flexible line of terminals. Equinox’s full X509 public key infrastructure (PKI) security layer is embedded in every model to protect terminal applications from hacking and malware attacks while the L5000 product line incorporates Equinox’s Remote Key Injection System for quick and secure on-site, in-store or in-lane payment terminal key injection at the point of sale.Equinox Payments Achieves PCI PTS 3.x for Next-Generation L5000 Product Family.
Clear2Pay payment solutions for financial institutions is implementing its Corporate Payment Hub Sepa solution for Delta Lloyd’s new group-wide central payments infrastructure. The new Central Payment Facility serves all parts of the Delta Lloyd Group and acts as a multi-label, multi-bank and multi-risk carrier. At a functional level, and as compliance demands, the SOA technology enables the various businesses to operate autonomously in terms of processes and client data, yet use the same single and efficient payment infrastructure and centralize data storage.
Wells Fargo announced that the independent directors of its board appointed Stephen W. Sanger, 65, as lead director effective January 1. Having served as a director since 2003, Sanger previously served as chairman, CEO and director of General Mills, Inc., Minneapolis, Minn., where he utilized his corporate strategy, sales, and marketing skills in leading one of the world’s largest food companies and developing some of its best-known consumer brands. He has extensive corporate governance and executive compensation experience and serves on the governance and audit committees of Pfizer Inc. and on the governance and compensation committees of Target Corporation.
Three nonprofit groups will split nearly $1.75 million in the final distribution in the landmark antitrust settlement over Visa and MasterCard-branded signature debit cards. Fifty percent of approximately $1.75 million remaining in the settlement fund will be donated to the American Antitrust Institute (AAI), while the remaining funds will be split evenly between U.S. PIRG Public Interest Research Group and Consumers Union of the United States. The 2003 settlement stopped Visa and MasterCard from forcing merchants to accept Visa and MasterCard-branded signature debit card products as a condition of accepting Visa and MasterCard credit cards.
In partnership with Intuit Financial Services, BankAtlantic deployed its latest Mobile Banking Application for Android platform phones. Following the recent success of BankAtlantic’s iPhone application launch, BankAtlantic is excited to announce its cutting-edge Mobile Banking platform for Android phones will soon be available. The latest Application will allow Android phone customers to view account balances; recent transactions and transaction history; transfer funds between accounts; and get GPS guidance to locate the BankAtlantic branch or ATM location nearest you. Mobile Banking just got a whole lot easier for Android phone users with BankAtlantic’s Android App – just a snapshot of the total convenience our customers experience.
Travelex foreign exchange specialist sold its Travelex Global Business Payments (“TGBP”) business payments operations to Western Union for GBP606 million to shift focus on its 30 million retail customers with the provision of cash and pre-paid cards. With revenues last year up 17% driven by continuing expansion and contract wins in its prepaid card division, Travelex now has a network of close to 1,000 stores and more than 500 ATMs across 24 countries, as well as a growing online platform. The transaction also represents an attractive opportunity for Western Union, which will benefit from TGBP’s expertise as a leading provider of international business payments.
BankAtlantic is set to launch its newest Mobile Banking Application (“App”) for Android platform phones. Offering users one-touch access to banking information, the new app is the culmination to provide value and convenience to help users manage finances while on-the-go. This latest Application will offer Android phone customers the same free, fast, safe and secure mobile banking medium as iPhone users, allowing them to view account balances and transaction history; to transfer funds between accounts; and automatically locate the nearest BankAtlantic branch or ATM location.
BankAtlantic’s free “Text Message Banking” service combines a secure banking medium and the ease of sending and receiving a text message, allowing users to check account balances, view latest transactions, receive low balance alerts, and make fund transfers to their primary account, using text messages from anywhere, at any time. BankAtlantic’s Text Message Banking functionality offers free 24 hour, 7 day a week Text Message Banking; Text Message Low Balance Alert notifications; and fund transfer. It provides customers a banking medium that can be securely accessed by anyone with the ability to send and receive a text message.
MasterCard has purchased the prepaid Card Program Management (CPM) operations of Travelex for $458 million in cash, with an earn-out of up to an additional US $55 million if certain performance targets are met. The transaction is expected to close in the first half of 2011. MasterCard is acquiring the Travelex operations that manage and deliver consumer and corporate prepaid travel cards to business partners around the world, including financial institutions, retailers, travel agents and foreign exchange bureaus. These operations also manage cross-border payroll, per-diem and expense-management prepaid cards for corporations. MasterCard has no plans to issue cards directly as a result of this transaction. The deal is an extension of a strong and long-term partnership between MasterCard and Travelex. Last year, the two companies expanded their relationship by agreeing to convert the majority of Travelex card programs to the MasterCard brand and by implementing the global prepaid transaction-processing capabilities of MasterCard Integrated Processing Solutions⢠(IPS). MasterCard IPS provides financial institutions world-class debit and prepaid processing solutions that are scalable, reliable, secure and flexible.