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).
Ecobank Transnational Inc. and MasterCard today announced a multi-country licensing agreement which will provide access to MasterCard’s electronic payments solutions for Ecobank’s customers in a further 23 African countries. The agreement is the culmination of a Memorandum of Understanding (“MOU”) originally signed in November 2011, and importantly, enables electronic payments access to more than 60% of Africa’s population. Ecobank subsidiaries in 28 countries across Sub-Saharan Africa are now licensed to issue and accept electronic payments through MasterCard prepaid, debit and credit cards. With this partnership, Ecobank’s customers in this fast-growing region will have access to MasterCard’s credit, debit and prepaid card products, whilst MasterCard will leverage Ecobank’s unrivalled pan-African footprint to provide its electronic payments solutions to a wider customer base.
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.
Onebip mobile payments service from Neomobile launched its subscription payment service for Android devices, having released its first subscription service in 2005 and has successfully managed recurring payments for top global online dating and networking sites since 2008. To celebrate this milestone, Onebip has further enhanced its offering by introducing Onebip Android in-app for subscription payments. Onebip has successfully helped merchants worldwide build their user base and monetize by optimising the opt-in user experience and recurring billing technology. Onebip’s Subscription payments allows online dating, social networking and gaming merchants and is available in more than 70 countries worldwide.
TSYS announced its milestone 15-year partnership with Kenya’s Commercial Bank of Africa (CBA). CBA became a TSYS client in 1997 when it began using the PRIME card management solution to manage issuing, acquiring, collections and rewards for its suite of Visa™ products. It has also deployed TSYS’ fraud and ATM network management solutions, as well as PRIME’s Instalments module in order to be the first financial institution to deliver instalment programmes to the Kenyan market.
Ingenico payment solutions launched its Next Generation Loyalty solution for retailers and quick-service restaurants to interact with digital consumers via smartphone, website or in-store. Ingenico is changing how retailers interact with today’s digital consumers by making social, local and mobile services a reality and accessible to any retailer globally by using Ingenico’s cloud based technology. Ingenico’s Next Generation platform and smartphone application combines loyalty, gifting, promotion management and secure payments across multi-channel retail environments including web, POS, mobile POS and self-service kiosks. Ingenico developed its Next Generation Loyalty platform to combine secure payments, building on over 30 years of payment expertise to deliver a true multi-channel payment experience for the consumer. This solution supports Ingenico’s offering to help retailers and quick-service restaurants extend their consumer’s shopping experience across multi-channel environments.
Tsys has signed a payments agreement with Scotiabank (BNS) to provide processing services for Scotiabank’s banking cards portfolio for undisclosed terms. The agreement calls for Scotiabank to convert its consumer card portfolio in Mexico to TSYS’ industry leading TS2 platform, which will also provide campaign and data management, and fraud and risk management tools as part of the agreement.
Citi is launching its payroll payment solutions, allowing clients to standardize, centralize and automate their payroll payments. They then can access the payroll payment solutions through a range of market-standard and proprietary channels. Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world.
Wolters Kluwer Financial Services announced that Société Générale Bank & Trust has gone live with its FRSGlobal regulatory reporting solution. Société Générale Bank & Trust chose the FRSGlobal Regulatory Reporting solution to help automate, standardize and simplify its Singapore and Hong Kong regulatory returns. Subsequently, the bank will offer automation, standardization and simplification of reports as a result of less reliance on dependencies across the end to end process; strong audit trails of data flows; and consistency across the different reports presented to the regulators. Société Générale Bank & Trust is able to benefit from FRSGlobal’s unique Regulatory Update Service, which gives them access to information to help remain up-to-date and compliant with changes in regulatory requirements.
TSYS announced that Qatar National Bank (QNB) has signed a licensing agreement for its “PRIME 4” card and merchant management solution. QNB has deployed PRIME to manage the issuance of its expanding cards portfolio because of its market-leading flexibility, ease of use and speed-to-market capabilities, to help QNB exceed its growth targets. QNB will leverage the “PRIME 4” upgrade for multiple countries, multiple languages and multiple currencies on a multi-institutional platform to achieve its cross-border expansion policy. It offers a cost-effective single platform licensing solution for issuing and acquiring with built-in, rule-based technology to monitor and detect suspicious transactions in real time.
SIX Card Solutions, part of SIX Group and a leading European payment processor, and PayLife cashless payments completed its migration of merchant-related systems and debit cards. The project began in April 2008 after PayLife decided to abandon its long-term proprietary processing platform and assigned SIX with the processing of its debit cards, ATMs and POS terminals. SIX and PayLife started a migration project that included extensive customisation to meet the specific requirements of Austrian cashless payments. SIX’s state-of-the-art acquiring and issuing processing platform has been handling all payments made with Austrian Maestro debit cards and transactions conducted at PayLife POS terminals since October 2011. The phased migration spanned three and a half years and a total effort of 180 person years, highlighting the scale of the project. All cash withdrawals and related transactions through the Austrian ATM network (Bankomat), which includes approximately 7,600 cash machines, were already being processed by SIX since March 2011.
VeriFone Systems has signed a definitive agreement with Nordic Capital Fund V to acquire Point payment and gateway services and solutions for retailers. With this, VeriFone seeks to extend the Point platform throughout the region for an infrastructure for rapid deployment of alternative payments. For the deal, VeriFone will pay EUR600 million to acquire all of the equity of Point and will also retire at closing existing Point debt of approximately EUR170 million. The acquisition is expected to close by the end of 2011, and is subject to customary closing conditions. Point has operations in 11 Northern European countries and serves a captive network encompassing almost 475,000 merchant contracts.