AisleBuyer CEO to Present on mPayments

The AisleBuyer Founder and CEO is set to present on the future of mobile payments, highlighting the power of mobile self-checkout, at the 2012 International Consumer Electronics Show (CES) January 10th in Las Vegas. He will participate in the panel discussion: “Mobile Payment Basics: How the Technology Works,” joining executives from Visa, PayPal, Ericcson and the Double Diamond Group to discuss how the wireless ecosystem promises to turn smartphones into credit cards and how this will affect the in-store customer experience.

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G7 Urges Financial Industry to Combat Check Fraud

G7 Productivity Systems (“G7”) enjoins leading financial software publishers, service providers and Internet check printing and delivery platforms to adopt Court-ordered Federal Trade Commission (“FTC”) consumer protection safeguards, as implemented by G7. The Court Order restrains financial service providers and parties acting in concert from creating and delivering checks for “any customer or prospect”, unless specific validation procedures have been performed. These safeguards by far exceed security features only built into check paper, which, although proven useless by fraudsters every day, are promoted by leading financial services providers, in order to create the illusion of check fraud protection, a feature strongly desired by consumers. The Court’s Order bans the commercial offering of assistance in fraudulent check creation and delivery as a choice to customers. The technology to implement these safeguards is in active use presently via the Internet.

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Geezeo Expands Financial Management Platforms

Geezeo online financial management (OFM) tools, personal financial management (PFM), and web-based marketing platforms to financial institutions, has signed five additional credit unions. To implement Geezeo’s integrated, white label PFM solution and engagement banking platform will be the NavyArmy Federal Credit Union, Texas; Chesterfield Federal Credit Union, Virginia; Ascentra Credit Union, Iowa; Kohlr Credit Union, Wisconsin; and Hiway Credit Union, Minnesota.

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VeriFone Acquires Point Payment

VeriFone Systems completed the acquisition of Point payment and gateway services and solutions for retailers. With operations in 11 European countries, Point serves a captive network encompassing almost 475,000 merchant contracts to give retailers a full range of multi-channel services and solutions, including point-of-sale technology and support, gateway services, card encryption services, and e-commerce processing. VeriFone intends to extend the Point platform to create the world’s largest infrastructure for rapid deployment of alternative payments and NFC mobile commerce.

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SmartMetric acquires manufacturing plant

SmartMetric is set to acquire its manufacturing plant in Buenos Aires, which will allow the company to proceed with its Latin American production of advanced electronic fingerprint activated Smart Cards for the Banking, Medical Insurance, Government Identity and many other markets and applications. Manufacturing in South America presents valuable benefits for the company while providing a favorable export base for Europe, Asia Pacific, Latin America and North America.

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SBI drops Visa, Elavon merchant acquiring JV

State Bank of India cancelled a proposed merchant acquiring business joint venture with US-based Elavon Incorporation and Visa International. Negotiations were canceled for establishing a JV entity with Visa Inc and Elavon Inc for conducting the merchant acquiring business, which would involve facilitation of payments through debit or credit cards at retail outlets. The Reserve Bank of India had already approved the setting up of a wholly owned subsidiary by SBI in the name of SBI Payment Services for conducting the merchant acquiring business. The proposed joint venture between SBI Payment Services Pvt Ltd (a wholly owned subsidiary of SBI), Visa Inc and Elavon Inc was first mooted in 2010, it said.

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The New Year Brings New APR Highs

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card APRs for December broke 15% for the first time in 2011, the highest since 2008 before dropping to a rock bottom 12.64% in 2010. Throughout 2011, rates have consistently increased since the June average of 14.83% and now sit at record highs, currently at 15.14%, up .15% from last…

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Citi Introduces Facebook App, Offers Social Rewards

Citi announced the first Facebook application from a loyalty program that is both a rewarding and social experience: the Citi ThankYou® Point Sharing App. This new Facebook app makes it easy for ThankYou® Rewards members who are Facebook friends to pool their points together, and use their points’ collective value towards a shared goal or reward. ThankYou members on Facebook can combine their points to make a charitable donation, or choose from millions of rewards on www.thankyou.com, from travel to electronics. To celebrate the ThankYou Point Sharing App launch, Citi is giving 10 million ThankYou points to qualifying ThankYou members on Facebook. The first 4,000 ThankYou members to link the ThankYou Point Sharing App to their personal Facebook page before 11:59 p.m. ET on February 3, 2012 will receive 2,500 ThankYou points courtesy of Citi. They can use the 2,500 points towards a number of individual rewards, such as digital books and music downloads. To participate, individuals must be a Citi ThankYou Rewards member and link the ThankYou Point Sharing App to their personal Facebook page. ThankYou members who are awarded 2,500 points will see them in their ThankYou account within 72 hours after it has been linked to the Facebook app.

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MOBIbucks Forges MEPS Partnership, Expands Globally

Mobile payment solution company MOBIbucks is launching its cardless/cashless payment service in the Levant region, having forged a deal with Middle East Payment Services (MEPS)- a consortium of seven Arab Banks providing payment processing services in the Middle East. The partnership will bring to the Middle East the MOBIbucks solution, letting customers make purchases using just their cell phone number, without the need for a card, cash, or event the mobile phone to be present.

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Barnes chip personalisation test module Gets Visa Updates

Barnes International announced an updated personalisation test module that complies with the latest Visa Global Personalization Requirements (GPR). The new module complements Barnes’ existing tests for Visa Specifications incorporated in its Card Personalisation Validation Tools (CPT 3000v3 and CAT 3000v3). The test tools offer comprehensive evaluation of a chip product to ensure it will meet industry and payment scheme certification standards. This significantly reduces a product’s time to market as the chip is aligned to Visa Specifications throughout the development lifecycle and before applying for official Visa approval.

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First Data Expands Online Banking Offering With 1st Capital Bank

1st Capital Bank selected First Data electronic commerce and payment processing to power its online banking services. First Data’s Online Banking solution offers 1st Capital Bank’s account holders the ability to manage their finances efficiently and securely, with state-of-the-art security features and financial management tools, through an interface that creates the feeling of a true virtual branch.

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