E-Commerce Solutions Integrate with Payment Processors

e-commerce software packages integrate with payment processors. The payment processor will interpret information as-needed, secure the payment from the customer, and then hand the customer off to the e-commerce software back on the seller’s website. Because most of the payment processors attempt to protect their proprietary code, the APIs may not all be as flexible and forthcoming as you would like, but are always freely available since payment processors have a financial interest in making sure developers can easily integrate support for their services.

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RetailMeNot.com Gives $150,000 to Online Couponers

RetailMeNot.com (www.retailmenot.com) announced that it would give people the opportunity to win $250 to help them buy the gift they really wanted, but didn’t get. Over the six-day period from December 26-31, 100 winners a day will be awarded gift cards valued at $250 each. In total, RetailMeNot.com will give $150,000 away to celebrate an end to the holiday shopping season. Participants do need to sign up for the free RetailMeNot.com newsletter that provides consumers a look at the best coupons and deals available in the marketplace each week.

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POS Supply Solutions Expands Product Line

POS Supply Solutions is expanding their line of POS supplies to include parking citation tickets and moving violation ticket paper rolls. The paper is available in roll and fan-folded formats to meet a wide variety of application needs. Paper grades include standard, heavy-duty, long-life, weather-resistant and waterproof. Municipalities, colleges, universities, airports and hospitals issue citation tickets, parking passes or pay and display tickets every day. POS Supply offers custom printed paper rolls as well as special sizes. Quoting a custom job is as simple as sending a sample roll. They will work closely with a customer’s layout and design in order to provide them with a quality end product. Order minimums start at as little as five cases.

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P2P Lending Gives Escape Hatch on Holiday Debt

The average consumer will spend $7041 on holiday related purchases. Debt consolidation loans represent 51% of all loans on Prosper, and have shown consistent growth over the past 5 months. Peer-to-peer (P2P) lending can replace high credit card interest rates and constantly changing monthly payments with lower rates and fixed, predictable payment terms. Data shows that even as consumers were preparing to spend money on gifts for this year, more than 14.1 million of them were still paying off holiday-related spending from last year, up from 13.6 million in 20092. Interest rates on Prosper.com start at 6.59%4 APR for best borrowers. Fixed rates range from 6.59% to 35.84% APR.

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Wright Express Releases Monthly Construction FCI

Wright Express payment processing and information management solutions, in collaboration with IHS, released results of its Construction Fuel Consumption Index (FCI). This showed an increase of 1.8% on an annual basis in November.The construction segment comprises approximately 20% of the Wright Express portfolio of customers. Wright Express worked with IHS to capture and analyze transaction data from its closed loop network of more than 180,000 fuel and vehicle maintenance locations, including over 90 percent of the domestic retail fuel locations and 45,000 vehicle maintenance locations. The Wright Express Construction FCI reported that fuel consumption by U.S. construction companies rose by 1.8% versus November 2010; and increased by 0.6% versus the previous month.

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OrbitalPay Launches New Website

OrbitalPay improved its website-OrbitalPay.com- easing navigation as well as a more user-friendly component in mind, the updated site features essential information about the company’s products and services, including merchant accounts, payment processing, check processing, customer support and call center services. Orbitalpay.com features direct access to the OrbitalPay Merchant Account Administration in addition to the OrbitalPay Agent Portal for the ISO channel at OrbitalPay.

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GE Capital to Acquire MetLife Retail Deposit

GE Capital, the financial services division of GE, announced that its wholly-owned bank affiliate, GE Capital Financial Inc. is acquiring MetLife’s U.S. retail deposit business, consisting of ~$7.5 billion in U.S. deposits and an established online banking platform. Financial terms of the transaction were not disclosed. The transaction is targeted to close in mid-2012, pending regulatory approvals.

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Kobie Marketing Receives PCI-DSS 2.0 and SSAE-16 (SOC-1) Type II

Kobie Marketing loyalty marketing has been recertified PCI-DSS 2.0, having completed an SSAE-16 (SOC-1) Type II, formerly the SAS 70 Type II. Both demonstrate the operational effectiveness of the organizations’ quality controls, operational practices, hosting services and ability to meet the latest regulatory requirements for secure data operations. Kobie Marketing offers end-to-end loyalty marketing solutions for some of the world’s leading financial institutions. Kobie runs credit and debit card reward programs on it’s best-in-class technology platform, Alchemy™ which require it to secure data for millions of credit and debit cardholders each year. Kobie passed the prestigious Type II audit, a more exhaustive process that includes in-depth testing of controls and practices over a minimum six-month period. SSAE-16 (SOC-1) TYPE II is the international standard and demonstrates that Kobie has adequate safeguards in hosting and processing customer data.

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Sberbank and Cetelem Develop Consumer Credit Market

Sberbank and Cetelem, the consumer lending division of the BNP Paribas Group, and the leading provider of consumer loans in France and Europe, have signed on 26 December 2011 a binding partnership agreement to create a joint venture for a Russian POS (Point of Sale) finance bank (hereinafter – the “Partnership”). The Partnership will operate under the Cetelem brand. Sberbank will have a 70% stake in the Partnership, the remaining 30% stake being owned by BNP Paribas Personal Finance France, which owns the Cetelem brand. BNP Paribas Personal Finance has turned its partnership activities into a business line in their own right, using its expertise to develop a comprehensive range of credit solutions and integrated services that are tailored to suit each partner’s own particular business and own commercial strategy.

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Diebold to install advanced-function ATMs With BancaStato

Diebold Incorporated will install and integrate 12 new ATMs, including Opteva 522 and 562 cash dispensers, and Opteva 720 and 760 advanced-function terminals, into Switzerland’s Banca dello Stato del Cantone Ticino fleet of 50 ATMs. BancaStato operates 16 branches in the southernmost Swiss canton of Ticino. It is the largest cantonal bank in southern Switzerland. The ATMs feature enhanced note acceptors, which accept up to 50 mixed-denomination notes at one time, and “Agilis3,” Diebold’s global software platform. which provides integration of solutions and services in both multi-channel and multi-vendor environments.

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Government to Outlaw excessive card surcharges

The Government will take action to tackle excessive card surcharges that are opaque, misleading and prevent consumers getting a good deal. Following the Office of Fair Trading’s recommendations, the Government intends to ban excessive surcharges on all forms of payment, not just debit cards; extend the ban across most retail sectors, not just transport; and Become the first European country to act by implementing forthcoming European legislation early to ban this practice before the end of 2012. With this, businesses will not be able to charge excessive payment surcharges, but can add a small charge to cover their actual costs for using any particular form of payment.

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