Egyptian Consumers Want More Widespread Digital Payment

Nearly 48% of Egyptians said that as payment card machines are not available in most consumer outlets, this inhibits their use of electronic payment cards. Also, cash withdrawal from ATM machines remains the most common use of payment cards, in spite of the findings showing that 95% of respondents are aware their cards can be used for direct purchases. This, according to Visa, also shows 53% use debit or credit cards at least once a week. While 63% of respondents mentioned that greater availability of POS machines would make using payment cards more convenient for them, 27% suggested that branding at POS machines will make their payment card usage experience more satisfactory in addition to 24% who suggested they would be more satisfied if POS machines would function with no networking problems. Overall, 60% of mainly use credit cards while 39% use debit cards and 1% prepaid cards.

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SelectCore Advanced on Debt Facility

SelectCore prepaid telecom and financial services transaction processor for the under-banked consumer market announced an additional tranche of $500,000 (the “Additional Advance”) has been advanced to the Company pursuant to the terms and conditions of the long-term secured convertible debt facility (the “Facility”) with its senior lender Windsor Bancorp Limited Partnership (“Windsor”). The Additional Advance comes due on the same date as the Facility, which is September 2013, with the option of extending for two additional one-year terms. The Additional Advance will bear an interest rate equal to the prime rate charged by the Royal Bank of Canada plus 9% per annum.

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Payzone Site Offers Discount Card Terminal Rentals

Payzone payments acceptance network launched its new website dedicated to the highest quality, most affordable credit and debit card payment terminals available to rent. Payzone Cards incorporates Visa and Mastercard payment terminals into business services, allowing them to accept VISA and Mastercard credit and debit card payments at the best rates; with support from the highest quality customer service. Payzone boasts the lowest card charges in the industry, up to 50% cheaper than other credit card processing provider, while terminal fees remain capped for 5 years and you won’t pay a joining fee; saving you as much as £150 from the outset. More than 20,000 retailers currently use Payzone terminals.

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Online Holiday Shopping Momentum Going Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With November online holiday sales having grown 26% and transactions up 40% over last year, ecommerce is continuing to expand at rates above and beyond brick and mortar retail. However, this growth has indeed slowed slightly. According to the Chase “Paymentech Holiday Pulse Index,” comprised of 50 of the leading U.S.…

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NFC Forum Welcomes Intel to Board

The NFC Forum announced that Intel Corporation has upgraded from Principal to Sponsor level. Sponsor membership is the highest category, and its privileges include a seat on the NFC Forum Board of Directors, which manages the organization. Sponsor members may designate individuals to run for Forum leadership positions, and each Sponsor member may appoint one voting representative to all NFC Forum Committees and Working Groups. Other privileges include proposing Forum initiatives and participating in the NFC Forum testing and certification program using Sponsors’ own in-house test labs.

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Certified Payment Processing Appoints Senior VP, Sales

Certified Payment Processing (CPP) has appointed Mike Hutchison the new Senior VP, Sales to oversee CPP’s TransTech Merchant Group, Summit Merchant Solutions and ISIS Direct sales divisions. He brings to the role a background that includes 20-plus years of successful sales and sales management. He began his career with Associates First Capital Corporation and has also held positions with Citigroup and Curomax, where he served as National Sales Manager. He earned his BBA in Finance at Austin College in Sherman, Texas. CPP is a direct provider of credit card processing services and also leases point-of-sale terminals that quickly process all forms of payments: debit and credit card transactions, gift cards and checks.

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mBill payment Sees Major Growth

Consumers now use multiple payment channels on an ongoing basis, with nearly one out of every five online consumer households changing the way they pay bills each month. Mobile bill payments are on the rise, with more than six million Americans using smartphones to pay their bills in the past year while interest in electronic bills (e-bills) has also hit an all-time high. These findings, according to the Fiserv “2011 Billing Household Survey,” also shows utilities, telecommunications providers, insurers and other billers are destination websites for billing and payment, particularly when it comes to last minute and one-time payments. Also, Consumers indicate it is important for billers to provide multiple payment options and many report changing the way they pay their bills month-to-month due to timing and funds availability. Moreover, Six million households paid at least one bill via smartphone in the past year and two thirds of consumers visit their billers’ websites, with the majority doing so for billing and payment related activities.

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cMoney’s Updates ATM Platform

cMoney mobile phone-based payment and money transfer service, announced that after receiving additional questions from shareholders regarding the recently announced cPay Core Platform ATM integration, the Company would like to update its shareholders and investors with the structure of the new ATM Platform. As previously announced by the Company, cPAY will be powered by Sirius Computer Solutions’ optimized infrastructure and integrated Cloud solution. This process will incorporate new ATM transactions to simplify and enhance usage by cMoney customers at partner ATM’s. This addition will also allow cMoney to start generating transactional revenue.

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eCashExperts.com Launches Check Scanner

eCashExperts.com, a leading edge payment technology provider of electronic check processing equipment for both merchants and merchant service providers, is pleased to announce their new eC Check Scanner device. The eC Check Scanner provides real time incorporation of Image Capture, Optical Characters Recognition (OCR) and Check 21 or Back Office Conversion (BOC) transactions during the check scanning process. In addition, the software provides access to, and support for, more than one scanner depending on the specific requirements of the client. It Helps Eliminate Bank Deposit Fees for handling paper checks, gives Faster Notification on Non Sufficient Funds (NSF) items and Reduces Expense by spending less time on Account Receivables.

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HyTrust Updates PCI DSS 2.0 Compliant Clouds Reference Architecture

HyTrust published a newly updated reference architecture for Payment Card Industry Data Security Standard (PCI DSS) 2.0 compliant clouds. Industry leaders HyTrust, VMware, Savvis, Trend Micro, Cisco and Coalfire – all core members of the PCI DSS Virtualization Special Interest Group (vSIG), and following months of collaboration – have published a white paper that outlines the new configuration guidelines and provides a comprehensive “best practices” reference architecture. Implemented and tested in a Savvis advanced-technology lab, the reference architecture is optimized to address the unique challenges of virtualization and cloud environments.

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