Bank of Montreal to Deploy Dovetail Payments Hub

Dovetail payment services hubs announced BMO Financial Group (BMO) signed a contract and started to implement its Payment Services Hub. Dovetail enables organizations to reduce the number of payment platforms they operate, centralize processing of multiple currencies and payment types, increase straight through processing and lower processing costs, and provide better, more holistic real-time information to their clients to help them manage the entire payment process.

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ACI Appoints Payment Industry Pro Head of Operations

ACI Worldwide payment systems appointed Sergey Lukyanov head of its CIS sales and operations. Most recently a 6-year veteran with BPC Group, as deputy CEO for sales and marketing in the region, Lukyanov brings over 20 years’ experience of payment systems working in banks and for software suppliers. He will take a leadership role focused on building and reinforcing relationships with customers, partners and governments in the region, working alongside ACI’s existing team in the region. He also worked as Deputy General Director (Visa and MasterCard projects) for JSC Cardcentre (FC URALSIB), and then at URALSIB Bank.

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Collis Intros Visa mPayment Specification Test Suite

Collis launched its Visa Mobile Payment Specification (VMCPS) Test Suite. Used to perform functional testing of the UICC or Secure Element application based on Visa Mobile Payment Specifications (VMCPS), vendors can use the Collis Suite to perform a pre-certification on their VMCPS payment products. Pre-certification means that the Secure Element application conforms to all requirements in the VMCPS specification, and should not encounter problems during the approval by Visa International. The Collis VMCPS Test Suite shortens the development cycle, allows for pre-certification self-testing and ensures production quality assurance and is part of a larger mobile payment offering.

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Kiwibank Implements Broadridge Reconciliation

Broadridge Financial Solutions announced that Kiwibank will deploy its “PROactive Reconciliation” solution for the automation of reconciliations and investigations. It will support reconciliation requirements across the bank’s cash nostros, POS transactions and its products for ATMs, credit cards, foreign exchange and interbank payments. This will ultimately let Kiwibank reduce operational risk through earlier detection of exceptions and increased efficiency in investigating and resolving outstanding issues while supporting continual growth through the provision of an enterprise reconciliation platform.

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ACG Reports mPayments Report & Usage

The Auriemma Consulting Group (ACG) is set to launch its new Mobile Payments Report (MPR), a market research service that provides comprehensive and trended insight covering mobile as a payments device, means to manage finances, marketing channel, and as a method of engaging with consumers. The MPR is an invaluable source of insight that solves multiple issues in a rapidly evolving market place. Unlike other ‘spot’ research it is trended four times a year, can have customised cross-tabulations based on precise subscriber needs, and will evolve as the industry evolves. Through insight and research, it enables subscribers to understand how consumers think, feel, and behave to craft compelling strategy and propositions. The report is to ensure subscribers can monitor best practices and access timely, up-to-date, tracked and trended consumer insight.

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Gemalto Supports Diners Club EMV Migration

Gemalto launched its approved EMV application which will be deployed by Diners Club Spain during 2012. Gemalto is providing Diners Club Spain with consulting and personalization services, in addition to Dynamic Data Authentication (DDA) payment cards that are compliant with the Discover Financial Services D-Payment Application Specification (D-PAS). DDA is a highly secure authentication technology whereby the smart card chip creates a unique signature for each transaction that allows banks to authorize transactions more securely. With the addition of Diners Club, Gemalto now supplies EMV solutions to all international payment associations, providing a complete portfolio of secure payment applications.

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Monext Merchant Services PCI DSS Certified

Monext’s Payline and Pavavenue services, which are targeted to merchants, have renewed their PCI DSS certification. Monext’s tokenisation service (card identification encryption) has also been certified for the first time. This certification guarantees Monext’s clients that their data will be processed in a highly secure manner during electronic transactions. Monext is one of the first payment service operators in Europe to have their entire line of services PCI DSS-certified and renewed. Monext believes it is a strategic matter to ensure high security standards for its clients’ transactions.

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Credit Card Issuers to Increasingly Compete for Online Payments

Online payment space is what UK credit card issuer are sure to vie for throughout the next couple years. Credit cards are used for 49% of online purchases, but payment methods such as PayPal now account for over 20% of online purchases. But this poses risk because their market share has primarily been taken from credit cards, as both PayPal and emerging payment methods expand into new categories. These findings, according to Auriemma Consulting Group (ACG), also show 36% of consumers find purchases more secure with credit cards; 33% value rewards on purchases; 16% enjoy available credit on the card account; 8% cite convenience; and 7% prefer their credit card because of the good interest rate.

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Capital One Offers Free Credit Score Access and Tools

Capital One Financial Corporation launched its Journey Credit Tracker interactive online credit education tool for “Journey Student Rewards” Credit Card customers. The customized tool powered by Credit Karma offers Journey cardholders free access to their monthly TransUnion credit score and profile in addition to a variety of tools to help them learn about credit. The Journey “Credit Tracker” web site offers students interactive tools that allow them to quickly and easily monitor their credit score and keep tabs on different credit factors impacting their score. Users can also compare their credit score to that of their peers by age or location, and the “Credit Simulator” lets users virtually simulate how certain financial choices will impact their credit score. Journey is designed to help college students build their credit with confidence and reward them for responsible credit use.

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MasterCard Extends KeyBank Debit Card Provision Contract

MasterCard and a KeyBank forged a multi-year contract to deliver industry-leading debit payment solutions and processing capabilities. KeyBank’s Debit MasterCard program will add the capability for PIN transactions to the long-standing signature purchases and ATM withdrawal functionalities. KeyBank will implement the debit and prepaid transaction processing capabilities of MasterCard Integrated Processing Solutions (IPS), which offers a processing solution to create differentiated products and services and quickly expand payments portfolios across business channels efficiently and with minimal infrastructure investment. The platform provides a complete range of processing services for signature and PIN debit, as well as ATM and global prepaid.

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Credit Union 24 Appoints Relationship Manager

Credit Union 24 credit union-owned ATM & POS network appointed James Gukeisen Relationship Manager. Gukeisen served as Senior Card Services Manager and was responsible for the day-to-day operations of all non-credit card products, including debit cards, instant-issue cards, single-load gift cards and Suncoast’s 200 ATMs. Gukeisen also served as ATM manager and check-card manager, and was previously a project manager responsible for introducing new card products, developing rewards programs and assisting with fraud and risk management. Gukeisen is a Certified Credit Union Executive, a Certified Financial Management Specialist and a Certified Financial Services Professional.

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