Trans-Fast Launches Online Money Transfer Service

Trans-Fast Remittance money transfer made available its online service in the Philippines, letting customers send money online directly to any bank account throughout the country. Trans-Fast also provides home cash delivery within 24 hours to key cities, as well as a cash card that can be credited in real time. All remittances online are automatically entered into a promotional weekly drawing. The company offers users 24×7 customer support over the phone & web chat.

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G&D to Supply Turnkey TSM Solution for mPayment

The Commonwealth Bank of Australia is adding Giesecke & Devrient (G&D) technology to allow secure contactless payments using mobile phones with NFC. The most important of the components to be provided is G&D’s turnkey Trusted Service Manager (TSM) solution. The technology provider will be taking responsibility via the mobile network for services including the personalization of the payment function as well as management of the payment application over its entire lifecycle. Specifically, Commonwealth Bank is giving iPhone 4 and 4S owners the opportunity to transfer their MasterCard PayPass details with a special cover featuring a Secure Element. The iPhone cover, which can be ordered through Commonwealth Bank, is hooked up to the iPhone data interface and automatically communicates with the “Commbank Kaching” app installed on the iPhone.

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Travelex Expands Number of Outlet Locations

Travelex opened its new outlet in Bab Al Bahrain and is now the largest Western Union provider in the Country. The new outlet relocated from the 24-hour supermarket to the opposite side of the road, in the Bahrain Air Office Building, offering more spacious facilities for customers. Travelex will offer more than 30 foreign currencies, a buyback guarantee, Western Union services as well as the Travelex Money Transfer (TMT) service which was launched in December 2011. Travelex Bahrain’s 24 outlets are part of a global network of more than 1,000 stores and over 500 ATMs across 25 countries.

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LML Reports Profitable 4Q/11

LML PAYMENT SYSTEMS payments technology provider of financial payment processing solutions for e-commerce posted its fiscal 3Q/11 (4Q/11) revenue of $5,251,000, down from the year ago figure of $11,060,000. Meanwhile, gross profit was $2,236,000 and net income was $265,000. For the quarter, Transaction Payment Processing (TPP) segment revenue increased 22% year over year and 13% sequentially quarter over quarter; all three of its business segments achieve profitability; and the Company added 873 customers for a base of just over 12,000.

Revenue for the nine month period ended December 31, 2011 was $24,233,000 compared to the year ago figure of $22,010,000, gross profit was $12,286,000 and net income was $4,435,000, compared to last years’ net income of $2,762,000. LML Payment Systems through its Canadian subsidiary Beanstream Internet Commerce and its U.S. subsidiaries Beanstream Internet Commerce and LML Payment Systems provides credit card processing, online debit, electronic funds transfer, automated clearinghouse payment processing and authentication services.

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YESpay Launches Mobile NFC Payment Solution

YESpay International launched its “StoreManager” Mobile Payments App, supporting Magnetic Swipe and NFC Contactless card payments. Available for Android, BlackBerry and iPhone smartphones, “StoreManager” is effectively a mobile version of a POS card payments device for mobile merchants. It also lets merchants make recurring payments using pre-stored card tokens for regular customers. With this, YESpay EMBOSS Payment Service host disseminates alert messages to the StoreManager App when potential fraud events are detected.

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Wirecard Presents Tokenization Server

Wirecard AG payment processing is presenting its latest tokenization solution at ITB 2012. This offers end-users to cut costs and the effort involved in data-conform audits in line with the PCI DSS requirements, while end-to-end integration in the company’s software ensures that data stored locally are only available as a token, unauthorized access to sensitive card data is thus impossible. Wirecard AG’s tokenization modules can also be freely configured and existing systems do not have to be adjusted.

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Western Union Posts Revenue Up 5% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union posted its 4Q/11 revenue of $1.4 billion, up 5% from the year ago figure and up 3%, $35 million of which came from an acquisition of TGBP. Gains in Other income / (expense) of $20 million related to the revaluation of the Company’s previous 30% ownership interest in Finint…

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Heartland Payment 4Q/11 Net Income Up 73%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Heartland Payment Systems payment processor posted its 4Q/11 net income of $11.2 million. This thanks in part to a Small and Mid-Sized Enterprise (SME) quarterly transaction processing volume of $16.8 billion, up 7.1% from 4Q/10; a net revenue of $125.1 million, up 13.3% from 4Q/10; operating margin on net revenue of…

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Corporate One To Implement Fundtech ACH

Fundtech global transaction banking solutions announced an agreement with Corporate One Federal Credit Union for the purchase of its “CASHplus” and “PAYplus-ACH” services. This will furnish its members ACH payment, replacing the APEX-ACH platform offered through U.S. Central Federal Credit Union (the wholesale provider of financial services to the corporate network) with a solution that will offer several enhancements, and have pricing that is more favorable to its members.

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FSS Launches EMV/Smart Chip Program

Financial Software & Systems (FSS) electronic payments announced its “Smart Start” program will let US card issuers implement smart card technology into their operations in less than 4 months. The Smart Start program is a full-function chip life cycle management system which manages the issuance and administration required for successful smart card deployments. Current FSS Card Management customers have already leveraged this technology to manage millions of cards.

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FSS Launches EMV/Smart Chip Program

Financial Software & Systems (FSS) electronic payments announced its “Smart Start” program will let US card issuers implement smart card technology into their operations in less than 4 months. The Smart Start program is a full-function chip life cycle management system which manages the issuance and administration required for successful smart card deployments. Current FSS Card Management customers have already leveraged this technology to manage millions of cards.

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RetailMeNot.com Shows V-day Disconnect in Men and Women

RetailMeNot.com online coupon site released its Shoppers Trend Report via a survey conducted by Ipsos (www.ipsos.com) that while 50% of consumers intend to spend $100 or less on their significant other this Valentine’s Day, another large percentage of consumers don’t intend to spend anything on their significant other this holiday. To those planning to buy, sites that sell candy are experiencing almost 3.5 times their typical traffic relative to overall site activity while sites that sell flowers are experiencing almost 3 times their normal traffic relative to overall site activity. However, RetailMeNot.com’s Valentine’s Day Survey, conducted by Ipsos (www.ipsos.com), found that men just don’t seem to be in tune with the wants and desires of their significant other this holiday. The survey shows 21% of women preferred gifts of jewelry, while only 16% of male respondents said they intended to purchase jewelry for Valentine’s Day.

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