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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Breach Fears Bolster Ukash Business 85% Y/Y

Ukash e-money network found games players and consumers are looking for alternatives to credit card payments, as Ukash has seen its business increase 85% year on year as more people look to play or pay online without having to submit personal financial details to websites. Consumers can exchange their cash for a Ukash payment vouchers of equal value, readily available at over 50,000 outlets in the UK and Ireland and over 420,000 outlets in more than 50 countries worldwide. Since its launch in 2005 Ukash has become a globally-recognised payment method that enables online transactions using cash, providing freedom from credit and debit card fraud, repudiations and charge-backs, and protecting personal identity. Ukash allows participating online games merchants to accept cash at their websites without risk of repudiations and chargebacks – which also means that new cash-focused markets are opened up. Consumers benefit from their financial identity being protected and a secure, convenient and easy to use payment method.

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Only 21% Know What Factors Contribute to Credit Scores

Reportedly, only 21% of Americans 18+ know the factors that contribute to their credit scores. Research is also indicating 11% of consumers spend more than 10 hours a day worrying about debt. This, according to a fourth quarter survey by FreeScore.com, also shows the average consumer spends four hours a day worrying/thinking about debt. FreeScore.com…

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MoneyGram and Mozido Expand Mobile Partnership

MoneyGram International expanded its relationship with Mozido to include its remittance transfer services for approved Mozido mobile wallet applications. The new MoneyGram services are in addition to Mozido’s current gateway services’ arrangement with MoneyGram. Mozido has been a mobile gateway provider for MoneyGram since December 2009, when MoneyGram announced its relationship with SMART in the Philippines to enable cross-border remittances to SMART’s more than 40 million mobile subscribers.

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InspirePay Launches Universal Payments Platform

InspirePay launched its universal payment platform. consolidating online commercial transaction options into a single, streamlined, secure and customizable payments hub. Aggregating all Internet commerce choices – from credit cards to proprietary systems like PayPal, Google Checkout, Dwolla and AmazonPayments – InspirePay provides businesses and consumers with an easy-to-use, flexible and secure protocol to make and receive payments without the complexity of expensive, disconnected, closed systems that dominate the payments industry today.

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LogRhythm Expands Log Management/PCI-DSS Compliance

LogRhythm log management and SIEM 2.0 provider announced Brookstone specialty retailer deployed its “SIEM 2.0” platform to help secure customer data and to meet PCI-DSS compliance requirements. LogRhythm protects Brookstone’s 300 nationwide stores and 100 seasonal shopping locations, maintaining customer payment card information in a secure environment. LogRhythm proactively monitors client information systems and correlates events in real time. The SIEM 2.0 solution generates alerts that provide immediate notification of conditions that are impacting the integrity of an organization’s cardholder data.

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