Toronto-based BitGold has swallowed the intellectual property and operating subsidiaries of GoldMoney for $59.4 million and will become GoldMoney. The BitGold payment and savings platform will operate as a separate service focusing on the expansion of a high-growth internet user base, while also developing a global end-to-end payments and international transfer network utilizing BitGold settlement technology.
BlackBerry Limited today announced a new three-year agreement with EnStream LP, a mobile payments joint venture owned by Canadian wireless carriers Bell, Rogers and TELUS, to provide a secure platform that supports transaction services between leading banks and consumers. EnStream will leverage BlackBerry’s proven and reliable infrastructure to enable financial institutions, including Royal Bank of Canada, TD Bank Group, CIBC and Desjardins, and mobile operators to securely provision sensitive payment card credentials into any smartphone capable of near field communication.
MasterCard enhanced cardholders options to redeem, exchange and trade their rewards points. Delivered through a relationship between MasterCard and Points International, the new options are based on the popularity of travel and experiences and expected to drive engagement and value to rewards programs offered by issuing banks participating in the MasterCard Rewards Platform. Following the initial integration, it is anticipated that program functionality will be available later this year.
Monitise announced the early success of BBM Money, the P2P mobile payments service launched through its Joint Venture with Astra International in partnership with PT Bank Permata Tbk (PermataBank) and BlackBerry. Since going live at the end of February 2013, the service has attracted more than 60,000 registered users towards its end of 2013 target of 200,000. BBM Money gives BlackBerry Messenger (BBM) customers in Indonesia the ability to instantly create and access a Mobile Money account from their BlackBerry smartphone and make real-time payments to their BBM contacts who are also signed up to the service, at any time from wherever they are. The simple and secure service also enables users to buy mobile airtime credit and transfer money to bank accounts.
Target sold its entire consumer credit card portfolio to TD Bank Group for $5.7 billion, part of a seven-year program agreement under which TD will also underwrite, fund and own future Target Credit Card and Target Visa receivables. With the agreement, TD will control risk management policies and oversee regulatory compliance and Target will continue to perform account servicing functions. Target will maintain the current deep integration between its financial services operations and its retail operations. The agreement does not have any impact on Target’s 5% REDcard Rewards program and will have minimal impact on Target’s current cardholders.
Gemalto announced that Canadian telecommunications carrier TELUS will use Gemalto’s UpTeq NFC SIM cards to enable consumers to securely store a variety of credentials on their SIM for use with their mobile phones. This fully compliant Europay MasterCard Visa (EMV) technology will enable customers to make secure payments, participate in loyalty programs, validate their transit pass, and redeem coupons using the secure credentials stored on their SIM cards accessed by with TELUS smartphones equipped with tap-and-go Near-Field Communications (NFC) and LTE capabilities. The UpTeq NFC SIM secures credit and other payment card credentials, offering the same security protection as chip payment. Besides the NFC-compatibility, the SIM also has built-in LTE capacities which are fully compatible with existing networks.
Cardlytics is expanding its service to allow consumers to opt-in to receiving offers and rewards via Facebook. This will allow partner banks to deploy a Facebook App that integrates with the Cardlytics reward platform and let consumers privately see their offers and rewards while using Facebook. The Cardlytics software simply uses the Facebook API to create a link from an anonymous token ID at the bank to their individual Facebook ID. Cardlytics specializes in card-linked marketing, partnering with more than 300 banks providing insight into the spending of nearly 70% of households across the U.S.
Home Trust Company has partnered MasterCard Canada to grow Home Trust’s payment card services and merchant acquiring portfolio. Home Trust will expand its payment card portfolio through the development of a prepaid card business with MasterCard. MasterCard and Home Trust will also work together to further grow Home Trust’s merchant acquiring portfolio. Home Trust conducts merchant acquiring through Payment Services Interactive Gateway(PSiGate), with secure and trusted solutions to small and mid-size merchants.
Mint Technology is pleased to announce that its subsidiary, Mint Global Processing LLC (“MGP”) and its banking partner, have passed all required testing to complete both issuing and acquiring certification from the UAE Central Bank for prepaid and ATM debit cards making MGP only the 4th Third Party Processor (“TPP”) in the UAE to be…
Mint Technology has signed a Memorandum of Understanding (“MOU”) with the Principal Bank for Development and Agricultural Credit (“PBDAC”), an Egyptian government owned bank to build and operate a payments infrastructure network to replace the current cash based system of subsidy, loan and payment distributions. The project includes a prepaid/debit card program to manage the bank’s agricultural loan program to be distributed exclusively by and through the PBDAC distribution network in Egypt of 1200 Branches and able to be used at retail point of sale merchant locations and ATMs. Mint’s contract with PBDAC will also include the deployment and management of new ATM and POS equipment and network to support the card program throughout the country.
SelectCore has retained a Financial Advisor to act as an exclusive agent in connection with new potential merger / acquisition targets that have been presented to the Company.Due to the size, sensitivity and confidentiality of ongoing discussions, the Company is not at liberty to disclose the parties at this time.This engagement is not related to the Company’s proposed acquisition of a Canadian payment processor as previously announced on October 31, 2011 and November 21, 2011.
SelectCore prepaid telecom and financial services transaction processor for the under-banked consumer market announced an additional tranche of $500,000 (the “Additional Advance”) has been advanced to the Company pursuant to the terms and conditions of the long-term secured convertible debt facility (the “Facility”) with its senior lender Windsor Bancorp Limited Partnership (“Windsor”). The Additional Advance comes due on the same date as the Facility, which is September 2013, with the option of extending for two additional one-year terms. The Additional Advance will bear an interest rate equal to the prime rate charged by the Royal Bank of Canada plus 9% per annum.