Wells Fargo and JP Morgan Tap New Revenue Streams

US banks are backing off the new monthly fees implemented over the proceeding weeks subsequent to the Dodd-Frank Laws. In addition to charging fees to use debit cards, many banks added or increased fees for checking accounts and raised amounts customers must have in those accounts to avoid such fees. Namely, JPMorgan’s Chase decided it won’t charge customers who use their debit cards to make purchases nor will Wells Fargo.

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MoneyGram Announces Closing of Secondary Offering

MoneyGram International global payment services company closed the previously announced underwritten secondary public offering of an aggregate of 9,250,000 shares of MoneyGram’s common stock by affiliates and co-investors of Thomas H. Lee Partners, L.P. and affiliates of Goldman, Sachs & Co. at a public offering price of $16.25 per share. In conjunction, MoneyGram made a partial redemption of its 13.25% Senior Secured Second Lien Notes due in 2018, held by affiliates of Goldman, Sachs & Co, in a principal amount equal to $175 million. The partial redemption was made at a redemption price of 113.25%.

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Visa teams Shopkick, Offers Customer Rewards

Visa teamed up with the Shopkick company to offer shoppers rewards for using their Visa card to make purchases in time for ‘Black Friday.’ This lets Visa cardholders who choose to use their card online to receive Shopkick reward points. Visa cardholders will have to register their cards with the service however in order to be able to quality for the rewards. The reward points that are offered can then be used at a range of well known stores including Toys R Us, Old Navy and many others.

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Geezeo Adds four credit unions to Network

Geezeo US FinTech firm providing online financial management (OFM) tools, personal financial management (PFM), and web-based marketing platforms to financial institutions, announced that it has signed four additional credit unions, including the Fulda Area Credit Union, Minnesota; Northeast Alliance Federal Credit Union, New York; Finance Center Credit Union, Indiana; Premier Federal Credit Union, North Carolina. Each of these will be provided with Geezeo’s integrated, white label PFM solution and unique engagement banking platform.

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BPC SmartVista earns HP AllianceONE certification

BPC Banking Technologies, provider of Open System e-payment solutions for the global financial industry, with its award winning “SmartVista” e-payments solution earned the HP AllianceONE ‘Converged Infrastructure Ready’ certification. The ‘Converged Infrastructure Ready’ with NonStop verification process followed the successful porting of SmartVista to HP Integrity NonStop platform, helping ensure its e-payment business delivers continuous application availability. From simple credit and debit cards to sophisticated loyalty programs and multi application smart cards, SmartVista supports all aspects of card management.

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CenPOS Illustrates the Benefits of Invoicing Platform

CenPOS payment processing technology provider published its online infographic, “Who Killed the Paper Bill.” Illustrating the benefits that CenPOS “EBPP” provides its clients and their customers, “Who Killed the Paper Bill” touches on how it allows merchants to send invoices electronically via email allowing consumers to pay instantly through their computer or mobile device. Through the “Pay now” option found within the email consumers are redirected to a payment portal unique to that invoice. Because consumers can pay instantly, CenPOS “EBPP” reduces invoice aging and improves your cash flow. CenPOS provides customers and partners an intelligent payment-processing network that streamlines the payment experience for businesses and consumers.

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Green Dot Granted Fed Approval to Acquire Bonneville

Green Dot prepaid financial services company announced its application to acquire Bonneville Bancorp (“Bonneville”) and thereby become a bank holding company under the Bank Holding Company Act of 1956 has been approved by the Board of Governors of the Federal Reserve System. Subject to the terms and conditions of Green Dot’s merger agreement with Bonneville, Green Dot expects to close the merger with Bonneville promptly upon expiration of the statutory 15-day waiting period following the Federal Reserve Board’s approval.

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ANZ Dumps m-payments venture

Australia and New Zealand Banking Group Limited (ANZ) announced that it has sold its Cambodian mobile payments company “WING” to Inter Logistics for undisclosed terms. The “WING” mpayment solution has operated in Cambodia since it was launched by ANZ in January 2009. WING is Cambodia’s most comprehensive mobile payments company offering transactions in both USD and KHR and accessible through a nationwide service across six mobile network operators.

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Network International launches instant credit card issuance

Network International (NI) independent payment solutions launched instant credit card issuance services in the region and forged a partnership agreement with The Group to provide third-party processing of credit card products to The Group and its clients. The Group has more than 20 years experience in financial activities and its annual transaction volume exceeds 62 billion Qatari Riyals. NI will also provide The Group with an instant card issuing solution, allowing The Group to approve and issue credit cards instantly for its high net worth individual clients in less than five minutes. NI’s state-of-the-art instant credit card issuance solution is integrated with The Group’s front end system and the instant issuance can be performed with the highest standards of security.

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Standard Chartered Bank Deploys Wincor Nixdorf ATMs

Standard Chartered Bank Hong Kong is relying exclusively on Wincor Nixdorf ATM technology to provide transactional banking services at offsite locations and branches in Hong Kong. This latest deployment of 37 ATMs replaced another vendor’s systems making Wincor Nixdorf the only ATM technology provider to the bank in Hong Kong. All self-service systems are now linked to the bank’s data center via Wincor Nixdorf’s online monitoring software ProView, which is designed to ensure systems operate 24/7.

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Collective POS Named Among Best Regional Employers

Collective Point of Sale Solutions has been named to the 2012 Aon Hewitt / Queen’s School of Business list of the Best Employers in the Greater Toronto Area. Collective POS supports employee engagement through promoting exceptional structures for its workers and encourages a hands-on interaction and a dynamic working environment at every level of the organization.

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Pivotal Payments expands Canadian Call Center

Pivotal Payments payment processing expanded its contact centre in Saint John, New Brunswick to provide current and new clients specialized services on an inbound and outbound basis. Business solutions and information pertaining to merchant services, with an emphasis on the acceptance of debit and credit card payments at the point of sale and online will all be offered through this location. Pivotal Payments held the grand opening on Thursday, November 17.

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