NACHA Electronic Payments Association, released a resource to support financial institutions to refine implementation of the provisions of the Federal Financial Institutions Examination Council (FFIEC) Supplement to Authentication in an Internet Banking Environment. Developed by NACHA’s Risk Management Advisory Group, the release identifies sound business practices that financial institutions could use to create internal policies and procedures in response to guidance in the Supplement. The guidance requires financial institutions to complete periodic risk assessments, establish layered security controls, and educate customers on various forms of potential fraud.
NovoPayment prepaid card service provider launched the general purpose reloadable (GPR) program with the “LATODO” MasterCard for the underbanked. NovoPayment’s Platform as a Service (Paas) capabilities fulfill LATODOs technical and financial processes and requirements from card sales to clearing transactions to compliance and customer service. This is the second GPR program NovoPayment has launched in the region, having already introduced the Plata card program in Venezuela in 2005.
payworks and PAY.ON AG have partnered on mobile payment solutions. payworks develops both turnkey white-label products and modular components, making it easy for payment providers, banks and telecommunications providers to enter the emerging mobile payment market and now clients of PAY.ON’s payment processing platform ‘PaySourcing’ can now rely on a professional partner for future mobile payment projects. The ‘payworks.terminal’, for example enables payment providers to release their own mobile POS solution, allowing small retailers to accept card payments easily at the POS, the only requirement being a smartphone with internet access. An optional card reader can be plugged into the phone for faster processing.
Zebra Technologies Corporation, a recognized global leader in technologies that extend real-time visibility into business operations, announced a joint partnership with Hybrid Paytech, one of the world’s first companies to enable PIN/debit transactions over consumer smart phones and tablets, to provide mobile credit and debit payment and printing solutions to their global customers. The companies…
Lloyds Bank Wholesale Banking and Markets has appointed Andrew England as Head of Transaction Banking. The Transaction Banking team will continue to build upon the Bank’s successful transaction banking proposition and evolve the Bank’s product offer which supports the activities of the Bank’s corporate customers. England spent his entire career in banking, which began more than 30 years ago with Lloyds Bank which he joined as a trainee. Primarily working in the Bank’s international divisions, England spent almost ten years with Lloyds Bank before joining Citibank in 1990. England has worked at Unicredit Group, which he joined in 2008. Whilst there he was its Head of CEE Global Transaction Banking.
CardPaymentOptions.com is offering a free step-by-step guide to credit card processing for simply “liking” the company’s Facebook page. The guide, titled “Fee Sweep,” is an in-depth explanation about the merchant services industry, how the rates and fees work, and includes instructions on how to negotiate the best deals when signing up for new services or re-examining current contracts. This contains over 25 pages of easy to understand descriptions about everything from tiered pricing to cancellation fees. It walks merchants and business owners through the typical marketing pitches used by merchant service companies and their sales agents, and explains the different terms they will frequently hear when speaking with representatives.
The UK Point of Sale is now offering a collation service to its customers, allowing businesses to order sets of POS items to any of their stores.UK POS’s collation service now allows retailers to order point of sale items such as sets of double hook wires, hanging buttons and poster holders in bulk, and then have them collated by UK POS and delivered nationwide to a large number of stores, therefore reducing the amount of time spent organising deliveries by the customer. UK POS is continually adapting to changing market trends with its POS services and display systems.
Discover Card unveiled its float design for the 2012 Tournament of Roses Parade to be held on Jan 2. As the 2011 Grand Marshal award-winner for excellence in creative concept and design, Discover hopes to wow audiences once again with a visually stunning float. In keeping with this year’s Rose Parade theme -“Just Imagine…”- Discover is working with Fiesta Parade Floats to design and construct a float entitled “The Dream Believers,” which celebrates the powerful belief that if you can dream it, you can achieve it. The float depicts children peacefully sleeping and dreaming about various professions they aspire to be when they grow up, including a teacher, artist, rock star, doctor, astronaut and firefighter.
My Mobile Payments Ltd (MMPL) mobile payment service provider has received the RBI’s go-ahead to launch financial services on mobile phones. “Money on Mobile” (MoM) electronic prepaid payment instrument for the mobile phone is set to offer mobile phone users the flexibility and convenience to top up their talk time, DTH account, buy air, bus or movie tickets anytime, anywhere using the mobile platform. MoM service operates independent of the consumer’s mobile operator or bank, and hence any mobile subscriber can avail of its services.
Xpress Money unveiled its new look, which comes at a time the money transfer giant can announce record growth. By the end of 2011, Xpress Money will register a 52% increase in its agent network size taking it from 85,000 locations in 95 countries to 135,000 locations in 125 countries. This network comprises of leading banks, NBFCs, Exchange Houses, Postal Unions and Single Agent Locations. Meanwhile, in Europe, the Company will grow to about 1000 locations by the end of 2012.
ASIC released the new ePayments Code which provides a best practice consumer protection regime for electronic payment products. PayPal Australia welcomes the new ePayments Code and has agreed to sign up to the revised code by the end of the transition period which is 20 March 2013. ASIC expects it to be joined by banks, credit unions and building societies who are members of the existing version of the code. ASIC is also in discussion with a number of other providers of new payment services about subscribing to the new code. The ePayments Code provides key consumer protections in cases of fraud and unauthorised transactions and plays an important role in the regulation of electronic payment facilities in Australia. The Code replaces the existing EFT Code and will regulate consumer electronic payments including ATM, EFTPOS, debit and credit card transactions (including contactless transactions), online payments, internet banking and BPAY and designed to deal with recent consumer issues and developments in the electronic payment industry.
Buffalo-based HSBC completed agreement to sell 195 retail branches to Buffalo-based First Niagara Bank for a consideration equal to a premium of 6.67% of the deposits to be transferred on closing, roughly $1.0billion. HSBC Bank USA remains committed to serving and further developing corporate banking relationships in Upstate New York and continue to provide a full suite of international commercial banking offerings, including trade and cash management products and services through its four business centres in the region. The all-cash transaction is expected to close in early 2012.