2000Charge Sees 100% Increase in Interbank Transactions

Alternative payment processor www.2000charge.com has announced a 100% increase in transactions on its “iDEAL” interbank method during 2011. The solution allows shoppers to authorize online payments from their current account through their bank’s online banking site. Available to ABN AMRO, ASN Bank, Friesland Bank, ING, Rabobank, RegioBank, SNS Bank, Triodos Bank or Van Lanschot Bankiers customers, those with online banking can start using “iDEAL” right away, and merchants that use 2000Charge can start offering it.

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DFC Global Expands Internet Loan Offering

DFC Global financial services for the unbanked and under-banked expanded its internet loans offering. The Company is providing these loans by leveraging the scalable technology platform and back-office support capabilities of its Scandinavian internet lending business (Risicum) based in Helsinki, Finland. DFC Global international diversified financial services company serves those whom purchase some or all of their financial services from the Company rather than from banks and other financial institutions.

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BinDataSet Launches Bin Database

BinDataSet, a Bank Identification Numbers (BIN) database service provider, has released the largest BIN database on the Internet. The database contains over 350,000 records of credit and debit card numbers. The database also provides Country, Brand, and Bank. BinDataSet ensures that more fields are available for higher accuracy. This allows verification on all card transactions-by phone if needed-saving retailers millions in lost revenue to charge-backs.

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Hamburger Sparkasse Extends Wincor Nixdorf Portavis contract

The outsourcing contract between Hamburger Sparkasse and Wincor Nixdorf Portavis has been extended, holding over the next five years Wincor Nixdorf Portavis is to oversee Hamburger Sparkasse’s self-service cash management, software applications and IT infrastructure. Additionally, Wincor Nixdorf will take on central operations management for all self-service systems and the technical operation of the Hamburger Sparkasse Web-based portal and various banking applications belonging to the savings bank. Wincor Nixdorf Portavis will also provide remote monitoring and additional monitoring of cash holdings for 370 ATMs, some 500 statement printers and around 140 automated teller safes.

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Ukash Expands Services in South America

Ukash e-commerce cash payment method introduced its services in Argentina through its partnership with More. The entire network of More stores went live this week, bringing over 100 nationwide outlets where the consumer can now purchase Ukash in Argentina. This empowers users to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations, in more than 50 countries.

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SelectCore to buy Conquest Financial Services

SelectCore is set to acquire the assets of Conquest Financial Services for $4.76 million. Strengthening its position in the payment processing market, SelectCore will issue 16.4 million shares to Conquest Financial and another 1.03 million shares will be held in escrow and released quarterly over the next 40 months, contingent on Conquest meeting certain performance metrics. The transaction adds more than 2,200 new POS terminals and merchants to SelectCore’s retail network, however if Conquest fails to meet certain performance metrics, any unreleased shares at the end of the 40-month period will be canceled. Additional cash consideration can be earned by Conquest over the next 40 months based on 75% of incremental net profit realized from two new customers. SelectCore provides transaction processing and POS solutions for the prepaid telecom and prepaid financial market.

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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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