Credit Card Interest Average Continues Free Fall

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After peaking at well over 15% following the holiday shopping season, credit card interest rates have plummeted back to averages not seen since August. Now standing at 14.91%, averages have seen a .22% drop over the past month. And if history is any indication, This drop will continue through the winter…

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FIS Posts 4Q/11 Revenue Up 7%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] FIS banking and payments technology posted its 4Q/11 revenue from continuing operations up 7.0% from the year ago figure of $1.4 billion to now sit at $1.5 billion. With this, the Financial Solutions segment revenue was up 5.9% to $533.4 million compared to $503.5 million in the 2010 quarter thanks in…

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Wells Fargo Appoints New Executive VP

Mark Lanspa joined Wells Fargo as an executive VP in the Hospitality Finance Group (HFG). He brings more than 25 years’ experience to his new position and most recently was a managing director in the Commercial Real Estate Finance group at Credit Suisse. He was also a principal at Oasis Real Estate Partners, a real estate debt and advisory platform established in 2009 by Lanspa and various Goldman Sachs alumni. He has also held positions in the Investment Banking division of Goldman Sachs and the Specialized Industries group at GE Capital Real Estate, where he was a managing director and responsible for the hospitality industry group. Lanspa received his M.B.A. from Columbia University and his B.A. from Georgetown University.

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Aptys Payment Processing Corners 16% of Market

More than 1,000 commercial banks- 16% of the market-now use the Aptys “PayLOGICS” platform to process payments. The “PayLOGICS” platform is the first and only unified platform to support all aspects of payment processing, including image exchange, ACH, wires, payment archiving, Federal Reserve messages, least cost routing, in-network exchange (INEX) and mobile payments. It is a multi-client, multi-tenant payment processing and archiving solution built for correspondent banks, bankers’ banks, corporate credit unions, and processors. This lets legacy and emerging systems including all payment transactions to interact with each other and be accessed and managed from one central location.

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Realex Payments Inks HSBC Merchant Partnership

Realex Payments has been selected as the payment gateway partner for HSBC Merchant Services as part of a six year agreement. With this, it will provide a fully managed gateway solution to HSBC Merchant Services new and existing client base on its “Global Iris.” The platform furnishes a fully branded gateway for existing and new online and call centre businesses, the provision of dedicated corporate and SME sales support resources for HSBC Merchant Services teams and finally the provision of a dedicated customer support function.

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Texas Trust CU Partners Allpoint on Surcharge-Free ATMs

Texas Trust Credit Union partnered Allpoint ATM network to offer TTCU members fee-free ATM access, whom can now use any Allpoint ATM, fee-free. Texas Trust members receive unlimited surcharge-free transactions through more than 43,000 Allpoint ATMs in the United States and beyond. These ATMS are located in destination retail outlets that include major discount retailers, and convenience, grocery, and pharmacy stores.

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paythru Gains Level 1 PCI DSS 2.0 Compliance

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] mPayments platform provider paythru has achieved Level 1 PCI DSS 2.0 compliance. The updated standard is tokenisation, requiring primary account numbers, such as credit card details, are completely removed from the transaction process. Full Story mPayments platform provider paythru has achieved Level 1 PCI DSS 2.0 (Payment Card Industry Data Security…

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WePay Sees Prosperous 2011

WePay payments grew nearly ten times in revenue and achieved outstanding growth in user base and total payment volume while headcount doubled in size last year with 20 new employees. WePay plans to at least double again this year to maintain its superior customer service and top tier engineering. WePay also grew revenue generated by its API by 15x in 2011. Partners like GoFundMe, which replaced PayPal with WePay as its primary payment platform, are fueling this growth. WePay is used in all 50 states, and across 900 college campuses in the US for which almost $800,000 was collected from 806 Occupy Wall Street-related accounts.

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Clairmail Deploys Xactly Auto Sales Management

Clairmail mobile banking and payments solutions, is using Xactly Express for its sales team. Clairmail is now the vendor of choice for one-third of the top 50 banks in North America. Clairmail extended its sales team into Europe and South America, and subsequently implemented cloud-based Xactly Express. Used to automate compensation processes and provide sales reps real-time access into their goals and quota attainment, Xactly Express is used in conjunction with the company’s existing Salesforce CRM system.

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Cal Credit Card deploys CA Technologies Security

Cal Credit Card company has deployed the CA Technologies “Safe Shopping” system using CA Arcot TransFort for Issuers. CA Arcot TransFort is an access control server (ACS) that provides 3-D secure authentication and fraud prevention services for card processors and issues. The service is delivered as a cloud-based offering and provides multiple layers of protection and identity verification during cardholder-not-present shopping transactions. The new Safe Shopping system at Cal Credit Card serves 1.7 million customers and enables Cal Credit Card to implement the 3-D Secure program quickly to reduce the risk of fraud in card-not-present transactions.

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