JCB Mongolia
State Bank, a government-run bank in Mongolia, has inked an agreement to issue JCB-branded debit cards. State Bank plans to launch debit card issuing in the spring of 2015.
Blake Wilson
CardWeb.com’s CardExecs database of card industry movers and shakers today features Blake Wilson, President and Chief Executive Officer of Everbank. The bank specializes in unique banking, lending and investing opportunities.
ACLEDA JCB Card
Phnom Penh-based ACLEDA Bank has inked a License Agreement with JCBI to issue a JCB card. As part of the agreement ACLEDA and JCBI will establish a basis framework for further collaboration and cooperation and offer high-quality payment, travel, and entertainment services to merchants and cardholders.
FIRST DATA 2013
Global processing powerhouse First Data had a busy year with nine contract extensions, a new German contract, and expanded nine partnerships. FDC also introduced three new products: Clover Station, VisionPLUS Flex, and Go Daddy Payment Solutions, plus upgraded a number of existing products. FDC also acquired Perka and took 100% ownership of JV. The Company also had three CEO’s during 2013 and received two major awards. Annual revenues also increased slightly in 2013, after two level years.
FIS Announces New Retail Banking Partner
FIS has been selected by Sainsbury’s Bank as the bank’s technology partner for all its retail banking operations as part of a new strategic multi-year arrangement. With this, FIS will provide real-time core banking and back-office processing support via an outsourced model on behalf of the Bank. FIS will also deliver transition support as the bank moves its back-office services from Lloyds Banking Group to FIS. FIS’ integrated solutions will support the bank’s deposit, savings, loan and credit cards accounts, and deliver seamless channel integration to enable customers to access their accounts through telephone, internet and mobile devices. The entire operation will be hosted and run by FIS in the UK.
Management Buys Out YourCash
The management team of YourCash Holdings Limited has acquired 100% of the business through a refinancing which takes out existing non-management investors. YourCash is an independent ATM provider with c6,000 ATMs deployed throughout the UK, Netherlands and Belgium in a variety of locations including convenience stores, supermarkets, universities, casinos, hospitals, post offices, leisure outlets and petrol forecourts. In the Netherlands, YourCash installed their 800th ATM in December 2012 and currently manages 10percent of the overall in-country ATM market. In 2012 YourCash handled over 73 million ATM transactions, equating to £2 billion cash dispensed through the UK estate and €1.2 billion in Europe.
MediaMath Transactions Through the Roof
MediaMath announced the number of transactions it handles in the Asia Pacific region has increased to more than six billion impressions a day, having expanded its footprint worldwide to more than 20 billion daily impressions. MediaMath’s business received a boost with the recent opening of its data center in Hong Kong. The company processes impressions at more than 350 queries per second. MediaMath now operates a total of six data centers worldwide in North Bergen, N.J.; Chicago; Palo Alto, Calif.; Zurich; Paris; and Hong Kong. In conjunction, MediaMath is also partnering with Tokyo-based CyberAgent, offering their TerminalOne online media buying platform to their clients to optimize the effectiveness and cost of their digital branding and direct response campaigns.
ICICI Prudential MF launches Visa debit card payment service
ICICI Prudential Mutual Fund has launched Visa debit card transactions facility for its investors, offering accessibility to investors by facilitating mutual fund purchase on their website through Visa debit cards. ICICI Prudential Mutual Fund plans to introduce Visa PoS terminals in seven cities to offer investors the convenience of purchasing mutual fund schemes by swiping their Visa Debit card, the release said.
Barclaycard acquires Egg Credit Card Folio
Barclaycard plans to purchase Egg’s customer portfolio, which includes more than one million accounts with a credit value of GBP2.3bn, for which completion is expected by the end of June. Egg customers who carry the green Egg card, qualified for special rewards and interest rates prior to the buyout. Rewards such as 4 percent cash…
Cardtronics Announces Changes to Board of Directors
Cardtronics announced the resignation of Fred R. Lummis as chairman of
the Board, effective November 10, 2010, where he served nine years to
grow the Company to more than 33,000 ATMs in three countries.
Subsequently, Dennis F. Lynch has been appointed as the Board’s new
chairman and will continue to serve as a member of the Board’s Audit
Committee and Chairman of the Company’s Compensation Committee. With
this, Mark Rossi will serve as a new independent director to serve on
the Company’s Board, effective December 1, 2010, and has been appointed
to serve as a member of the Board’s Compensation Committee. Rossi holds
a Masters of Business Administration from the J.L. Kellogg Graduate
School of Management at Northwestern University and a Bachelor of Arts
degree in Economics from Saint Vincent College in Latrobe, Pennsylvania.
BARCLAYS & EGG
British sources have disclosed Egg online savings and credit card provider is in line for acquisition by Barclays. This second round of bidding comes after the Company changed hands to Prudential in 2007 for ã575 million and then to Citi, which is liquidating assets in its lingering financial hangover. Barclays is projected to acquire Egg for between GBP400 million and GBP500 million and will most likely merge with the Barclaycard division. Egg currently has 2 million customers across the United Kingdom.
ABA Issues Call for Financial Regulation
The American Bankers Association has issued a statement regarding its
call for financial regulatory reform. The ABA recommendations for regulatory reform include the creation of a
systemic risk regulatorv to look over the entire economy to identify
potentialsystemic problems and put forth solutions; to be nimble and
focused, not involved in day-to-day regulation; to access information
held by existing regulators and askfor more if needed and to have an
explicit role in oversight of accounting policy. The ABA also seeks to
end “Too-Big-to-Fail” and create a resolution mechanism to unwind
systemically important institutions; narrow the range of circumstances
that might trigger the need for government to step in and resolve
entities viewed as too big or too important to fail; fill the gaps in
the regulation of non-banks to apply bank-like regulation to the
less-regulated and unregulated financial sector; ensure that similar
activities and products are subject to similar regulation and capital
requirements and prevent the so-called âshadow banking systemâ from
undermining the entire system by abusing consumer and investor trust.
The ABA also wants to improve consumer protection to require more focus,
greater coordination and more accountability by regulators to include a stronger focus on, and
authority over, the shadow banking system to avoid conflicts with
prudential regulation, both in creation of rules and in enforcement and examination and to preserve the
role of Congress in setting consumer laws,
together with the flexibility and full authority of UDAP rulemaking.