BPC Banking Technologies Honors Banca Transilvania

BPC Banking Technologies Open System e-payment solutions for the global financial industry announced the winner of its 2011 Transformation Award. BPC conveyed top honors to Banca Transilvania, Romania for an initiative through which the Bank provided a first-of-a-kind customer service by supporting Western Union money transfers through the Bank’s ATM network. BPC’s clients are continually finding new and ever-more innovative ways to leverage BPC technology to yield powerful market advantages for their organizations. The BPC Transformation Awards seek to recognize and honor the creative spirit and remarkable accomplishments of our clients. National Reserve Bank, Russia received its award for an implementation of a complete in house processing system. The project was completed inside five months and has delivered a marked improvement in customer service at a significantly reduced TCO.

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Payfirma Exceeds $1mm Daily Processing

Payfirma mobile payment acceptance is now processing more than $1 million per day across its thousands of merchants accepting credit cards through mobile, ecommerce and in-store payment solutions. The Company first came to market as a technology start-up in 2011 but now is shaping to be an industry leader, revolutionizing payments by leveraging mobile and internet platforms. Payfirma was the first company in Canada to launch a mobile point of sale application and swiper for iPhone & Blackberry in early 2011.

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Banks block cards after hack attack

Several banks have temporarily blocked their clients’ debit and credit cards due to security reasons. The citizens whose cards have been blocked received text messages from their banks, informing them about the situation. It is believed that the banks took the security measures after hackers had breached certain banks’ systems and card skimming equipment was found at gas stations.

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Flintec Expands With Scanner Scale Contract

Load cell manufacturer Flintec has won the contract to design and manufacture a new generation scanner scale for use in POS retail environments across the world. The client – one of the largest suppliers of enterprise solutions – chose Flintec for its innovation and proven high quality POS solutions. Flintec will be designing and manufacturing a custom load cell for the new scanner scale as part of the innovative weighing solution that it is delivering.

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USA Fulfillment Partners PacNet Services for Intl Payment Processing

USA Fulfillment has partnered with PacNet Services, an international payment processing company that specializes in clearing payments in the national currencies of over 130 countries for e-commerce and direct mail companies around the world. PacNet’s suite of multi-currency payment processing services, customizable integration options, and cutting edge online banking interface allows USA Fulfillment clients to optimize and automate the payments process to suit their own specifications, without requiring them to have a presence in the US or even operate a US bank account.

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ID Data and Vincento Launch Contactless Wristwatch Payment

Vincento Payment Solutions partnered ID Data Cards to support the launch of a new high-tech watch that can be used for contactless payments. Having combined to provide a complete payment solution that will enable the “Watch2pay” gadget from watchmaker LAKS, the partnership facilitates payment at 70,000 shops of up to GBP15.00. With this, ID Data will supply a matched pair of cards, one containing an embedded chip in a pop-out, which will be fitted in each watch along with a fully functional Paypass companion card to meet the necessary payment regulations, while Vincento will provide the back-office infrastructure via the company’s Kalixa prepaid payment solution.

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Credit Card MPR Down, Remains Strong in November

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Monthly payment rates (MPRs), which typically range between 15% and 22%, remained strong at 20.71% as consumers continue to pay down their debt quickly. Gross yield at 19.17% has eased off recent highs of almost 23% within the last two years as discount options expire. Fitch had anticipated that gross yield…

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VeriFone Posts Net Revenue Up 51% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] VeriFone Systems electronic payment solutions posted 4Q/11 (3Q/11) net revenues of $416 million, compared to $317 million in the previous quarter and $276 million for the comparable period of 2010 (“Q4 FY10”), a 51% year-over-year increase. This marks the sixth straight quarter that the growth rate exceeded 20% year-over-year. Meanwhile, gross…

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Closed-Loop Prepaid Cards Sees Growth Across All Sectors

First Data Corporation released its “SpendTrend Closed-Loop” Prepaid Cards analysis for the month of November. Tracking U.S. same-merchant activations and redemptions of merchant-branded prepaid cards including spending, gift, incentive and promotional cards. Activation transaction growth led the way in November with year-over-year activation transaction growth at 12.3%. Specialty Retailers saw activation transaction growth of 19.4% growth in November. Casual Dining and Quick Service Restaurants also posted double-digit growth increases in November. Meanwhile, activation dollar volume rebounded in November with an overall growth of 16.7%, reversing a three-month slowdown of growth.

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Consumers in All 50 States Reduce Credit Card Debt

Since January, average credit card debt has fallen nearly 10% nationally to $6,503, while all 50 states showed reduced credit card debt. The states that decreased their debt the most include Mississippi, down 16% to $5,362; Alabama, down 14% to $5,750; and Kentucky, New Hampshire, Rhode Island and West Virginia, all down 13% to $6,151, $7,464, $6,090 and $5,956, respectively. Nationally, credit scores remain unchanged from last month at 661, but have fallen five points since January. This, according to CreditKarma, also shows the states that had the highest credit scores in November include California (680), New Jersey (679), Massachusetts (678), and Utah (675). Mississippi (621), South Carolina (635) and Arkansas (635) posted the lowest scores.

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Payvment Support Twitter m-Shopping

Payvment e-commerce platform, launched a new mobile shopping experience optimized to support Twitter’s new design. Shoppers can now click on a tweet in their stream to learn more about a featured product and immediately purchase it – or click “want” to add the product to their Wish List on their Payvment profile, making it easy to shop and share on the go. With this, Twitter becomes a vehicle for Payvment sellers to promote their products and for shoppers to discover and share them.

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Western Union Shows Spending Worries Consumers

The Western Union Company global payments research now indicates consumers in the United States, Brazil, the United Kingdom, United Arab Emirates and South Africa disclosed overspending as the No. 1 worry this holiday season. For example, in the U.S., 38 percent worry about overspending, and then eating too much (14 percent), finding the perfect gift (11 percent), seeing family (8 percent), and work commitments (5 percent) are also high on the list. In response, Western Union is announcing its “$50 for $5” promotion, allowing consumers to send up to $50 from participating Agent locations to loved ones in the U.S. for five dollars or send a Western Union gift card,* with a personalized greeting card and voice message.

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