MasterCard has ankled Khalid Elgibaly as Division President for Middle East and North Africa (MENA), effective May 8th. Most recently, he worked for HSBC Middle East (HBME), where he was the Regional Head of Retail Banking & Wealth Management for MENA. Khalid also worked with Standard Chartered Bank (SCB), Barclays and Citigroup, where he held…
Estonia-based m-Payments specialist Fortumo has launched subscription payments using carrier billing for Windows Phone and Windows 8. Developers building apps for Microsoft platforms can now increase their subscription payment coverage by enabling carrier billing for users without credit cards in 83 markets.
Europe’s Worldline and the Mid-East’s United Brands have teamed. The deal will provide payment terminals to the Middle East and African (MEA) market acquirers and telecoms companies.
The Estonia-based mobile payments company Fortumo has introduced a Software Development Kit (SDK) developer program for app developers to help them acquire additional users for their apps. Fortumo in-app payments enable customers to charge digital goods purchases to their mobile operator bill.
Visa’s CEMEA region, dominated by prepaid payment cards, jumped 27% in the second quarter driven by cash advance volume. Visa has an estimated 307 million cards-in-force (CIF) currently in the CEMEA region, compared to 289 million in Q2/13. The total number of accounts rose to an estimated 306 million in Q2/14, compared to 291 million for Q2/13.
MasterCard has racked up more than $4 trillion in global gross payments card volume during 2013. MasterCard reported net revenue for Q4/2013 was $2.1 billion, a 12% increase versus the same period in 2012. Also, a 14% increase in gross dollar volume (GDV), on a local currency basis, to $1.1 trillion; an increase in cross-border volumes of 18%; and an increase in processed transactions of 13%, to 10.4 billion for Q4.
Credit card charge-offs in the Europe, Middle-East, Asia region (EMEA) have declined sharply over the past year, falling 47 basis points and expected to drop another six basis points in the fourth quarter. After peaking in the first quarter at 2.60%, EMEA credit card charge-offs declined to 1.71% in the third quarter of 2013. Citibank reports EMEA credit card charge-offs declined from 2.42% in the third quarter of last year to 1.89% in the third quarter of this year. The drop-off in EMEA credit card charge-offs mirrors the trend in the U.S. market. Citibank’s U.S. credit card charge-offs dropped 61 basis over the past year to 3.54%. According to the Board of Governors of the Federal Reserve, U.S. credit card charge-offs declined for four consecutive quarters to 3.23% in the third quarter of 2013. RAM Research projects EMEA charge-offs will fall to 1.65% in the fourth quarter.
Citi has offered commercial cards in Turkey for some time, but migration onto Citi’s global platform enables both multinational and local clients to benefit from a globally consistent customer experience, unsurpassed global acceptance and digital tools that enable greater visibility of their corporate spend. This development is in line with Citi’s strategy of offering a consistent experience for commercial card clients across all geographies. Citi intends to formally launch the platform in Russia, where certain clients are currently on a pilot programme. Launches are also planned in Ukraine and Kazakhstan before the end of the year.
DBS and Visa have launched Visa Personal Payments (VPP) for quicker, more secure money sending from a bank account to any Visa cardholder around the world. To make a payment a user just needs the recipient’s name and their 16 digit Visa card number. The new service is accessible to all DBS/POSB customers in Singapore and is available through the bank’s iBanking and mBanking channels. DBS/POSB customers can now send money to over 1 billion eligible Visa cards globally, including funds transfers in near real-time (within minutes) to over 200 million Visa Debit, Visa Credit and Visa Prepaid cards. Transfers to a Visa debit card occur as a deposit to the underlying checking or savings account, transfers to an eligible Visa prepaid card occur as a top-up to the balance, and transfers to a Visa credit card will be applied to the outstanding balance with any surplus funds held in credit. For a limited period of time, customers can also enjoy low handling fees starting from S$2.50 and competitive foreign exchange rates.
Visa Inc.’s Personal Payments platform has seen 89% growth in September 2012 since the year ago period in Asia-Pacific, Middle-East, Africa and Eastern Europe.The platform, which enables consumers to send money directly to eligible Visa credit, debit or prepaid cards around the globe, is now available to an estimated 200 million consumers through 74 leading financial institutions in 18 countries. Visa Personal Payments has seen rapid adoption among financial institutions and payment service providers with ICBC Bank in China; Standard Chartered Bank, Maybank and OCBC Bank in Singapore; Alfa Bank, QIWI and Russian Standard Bank in Russia; UAE Exchange in the Middle-East,Taishin International Bank in Taiwan and ICICI Bank and, State Bank of India in India.
Agiliance Security and Operational Risk Management solutions for Governance, Risk, and Compliance (GRC) programs has earned the 2011 Golden Bridge Awards for Information Technology Innovation in the FERC / NERC CIP Compliance and PCI DSS Compliance categories. Agiliance “RiskVision” was also named first runner-up for innovations in Governance, Risk, and Compliance as well as Information and Security Risk Management. A panel of more than 40 judges from a broad spectrum of industries determined the 2011 Golden Bridge Awards winners, which were presented during ceremonies at the Marriott Marquis Hotel in New York City last night. Agiliance also recently won a prestigious Stevie Award for its Agiliance Continuous Compliance Service™ (CCS) for PCI and the company’s Agiliance RiskVision platform recently received a 5-star rating by SC Magazine.
The Orange Cameroon mobile collect call service, “Sicap Pay4Me,” was awarded at the Annual Growth Product Sharing Summit. Features such as the White List option, enabling the recipient of the call to be directly connected without having to always accept the collect call, are considered as assets for they make the service easier to use and more efficient. Our collaboration with Sicap has enabled us to introduce a service which is a first in Cameroon and to be recognized by the Orange Group as pioneers. This allows a prepaid user without credit to make calls that the recipient will be paying for.