VPcard Launches Virtual Network

VPcard deployed its www.VPcard.com free network for facilitating business-to-business (B2B) transactions. The network consists of an interconnected group of customers and their vendors that allows tracking of p-card purchases, improves transaction visibility, increases spend control, and eases monthly credit card statement reconciliation. It allows organizations to avoid the expense and delay of issuing formal PO’s for frequent purchases involving small transaction amounts. The VPcard Network also supports non-PO purchases that are paid by Accounts Payable departments, allowing vendors to avoid transaction fees while their customers gain the efficiency of paperless invoices and automated payment.

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Tuition Express Awarded PCI DSS

Procare Software’s Tuition Express payment processing service has achieved the Payment Card Industry’s Data Security Standard Level 1 for the fifth year in a row as a Level 1 Service Provider. Earning the Certificate for 2012, the audit was conducted by Coalfire. Tuition Express has processed over 12 million credit card and ACH transactions, totaling nearly $4 Billion in payments for its customers. Fully integrated with Procare Software – the nation’s number one selling child care management system – Tuition Express automatically posts payments to customers’ ledger cards and sends customers automated emailed receipts.

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Bank of Georgia implements Jack Henry Social Media Compliance

Jack Henry & Associates’ “ProfitStars” division announced that The Bank of Georgia has implemented its Gladiator Social Media Compliance (SMC) Services. This will assist in proactively managing the risks associated with social media platforms, offering outside counsel on how to develop and launch an effective social media strategy that would comply with all regulatory mandates. The Bank of Georgia uses Gladiator’s security expertise to organize its informational security policies, so it was confident in relying on Gladiator to provide similar guidance on social media compliance.

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Green Dot to Launch Pre-Paid AARP Card

Green Dot banking and payment solutions is working with AARP Foundation and MasterCard to launch the a prepaid card tailored to older Americans. The “AARP Foundation Prepaid MasterCard” from Green Dot is ideal for direct deposit of paychecks and federal benefit payments, especially given new Federal requirements that all Social Security recipients obtain payments electronically as of March 1, 2013. The Card launch online and at Walgreens stores is planned for mid February, with rollouts to more Green Dot retail partners throughout the year. Cardholders also have the option of a linked savings account that allows the transfer of funds directly from the Card.

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MasterCard to Partake in the Goldman Sachs & KBW Cards Expos

MasterCard announced its participation in Goldman Sachs 2012 Technology & Internet Conference in San Francisco, for which its president of APMEA region will present on February 14. Also, on February 16, the chief financial officer, will present at the KBW Cards, Payments & Financial Technology Symposium in New York. MasterCard is a global payments and technology company and operates a payments processing network to connect consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.

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Giesecke & Devrient Launches Compact Banknote Processing

With the BPS C1, Giesecke & Devrient (G&D) has added a further robust, high-performance machine to its range of desktop systems. This two-stacker machine, featuring a sorting tray and a reject compartment, boasts a counting speed of up to 1,500 banknotes per minute – the fastest in its category. It is highly flexible and offers utmost precision for banknote processing applications. The system is able to process up to 10 different currencies. Two people can use the same BPS C1 machine in parallel, making an investment in the system even more cost-effective. The BPS C1 can be equipped to read serial numbers on banknotes and barcodes, for instance on casino tickets. As a further option, banknotes can be sorted into three classes according to the condition they are in, distinguishing between banknotes suitable for automated teller machines, banknotes fit for circulation, and banknotes no longer fit for circulation.

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One-in-six AIB Customers Partake in mBanking

Locating an AIB branch and calculating loan repayments while on the move are some of the features of AIB’s free, Apple App, which is now available for Apple iPhones/iTouch. AIB has just launched its Apple App in Ireland designed specifically for use on the iPhone/iTouch which is in addition to its Android App which was launched in October 2011. It allows users to check their balances, pay bills, transfer funds and top-up their mobile phones. AIB’s mobile banking offerings builds on AIB’s existing Phone & Internet Banking service which is increasing in popularity. The number of active customers in December 2011 was more than 781,000, an increase of 5% on December 2010.

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Comparethemarket.com Launches Credit Card Comparison Site

comparethemarket.com price comparison sites is attracting more credit card and loans customers with its new comparison service. Offering a method of comparing credit cards and loans to find the best product for their own personal requirements, the service lets customers compare exactly how much they could save on interest payments by switching credit cards. Simple and intuitive tools enable credit card customers to enter their own details such as current APR and balance transfer amount to get personalised results. The company is also extending its “Simples Rewards” scheme to credit card and loan customers.

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Net1 to Conclude SASSA SLA Negotiations

Net 1 UEPS Technologies’ subsidiary, Cash Paymaster Services (“CPS”), commenced negotiation of the service level agreement with the South African Social Security Agency in terms of the award of the national payment tender. The parties have agreed to extend the final signature date of the SLA to February 6, 2012. Net1 provides alternative payment systems that leverage its Universal Electronic Payment System, or UEPS, to facilitate biometrically secure real-time electronic transaction processing to unbanked and under-banked populations of developing economies.

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Euronet Inks ATM Installation Deal

Euronet Germany of Euronet Worldwide won contracts with R3 Group and International Currency Exchange for the placement of more than 50 ATMs. Each ATM placement contract is 3-5 years in duration and includes 2-5 years of exclusivity for the provision of actual ATM devices, operations and management services. The new, state-of-the-art ATMs will be Euronet owned and operated, and will be equipped with fully loaded functionality to allow for a full range of value-added service products which provide additional value to Euronet customers.

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IDEALINVENT and FinArch Ink Distribution Agreement

IDEALINVENT has signed a distribution agreement with Financial Architects (FinArch), the market leading vendor for integrated Finance, Risk and Compliance software solutions. IDEALINVENT will sell and implement Financial Studio, the Finance, Risk and Compliance flagship solution from FinArch. Included in the non-exclusive agreement are the Nordics, Baltics, Poland, CIS and Russia. The complimentary solutions and knowledge of the financial market brought together by both companies provides an exciting value proposition to the market.

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Card APRs Settle After New Year Scare

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card APRs in late January settled way down to pre-fall levels to now sit at 14.95%. This after having broke 15% for the first time in 2011 last month, the highest since 2008 before dropping to a rock bottom 12.64% in 2010. Throughout 2011, rates have consistently increased since the…

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