Western Union Addresses Common Scams

Western Union is appealing to consumers to use caution when sending money to people who claim to be family members and friends for emergencies without first confirming that the person is actually in trouble. The most common of these scams are the Grandparent Scam and the Social Networking Scam. Grandparents across the country are falling victim to a surprisingly effective scam in which they receive phone calls from people who claim to be their grandchildren and frantically ask for money. The telephone calls often come late at night with the callers saying they’re in an emergency situation from scammers posing as grandchildren to ask them to send money through a money transfer service as quickly as possible. Another version of an emergency scam involves hacking into social networking sites such as Facebook and then targeting friends in the victim’s account.

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Visa Europe Implements Vianet Contactless Vending

Brulines Group subsidiary Vianet secured a contract with Visa Europe to provide contactless payment technology for the vending machines located at its European headquarters. Visa Europe is the driving force behind the growth of contactless payments in Europe. The Vianet project, with its”Touch&Pay” solution, installed on a dozen vending machines across Visa Europe’s three UK offices and subsequently been met with a positive response.

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My Mobile Payments Granted RBI Approval

My Mobile Payments Ltd (MMPL) mobile payment service provider has received the RBI’s go-ahead to launch financial services on mobile phones. “Money on Mobile” (MoM) electronic prepaid payment instrument for the mobile phone is set to offer mobile phone users the flexibility and convenience to top up their talk time, DTH account, buy air, bus or movie tickets anytime, anywhere using the mobile platform. MoM service operates independent of the consumer’s mobile operator or bank, and hence any mobile subscriber can avail of its services.

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Global Payments to Deply Contactless Ingenico Terminals

Global Payments global electronic payment processing announced its Canadian launch of the Ingenico “iCT250” contactless POS terminal built on Ingenico’s Telium 2 platform. Global Payments is the first merchant acquirer in North America to bring the iCT250 to market. It was selected by Global Payments to provide merchants with advanced features for processing cardholder payment transactions and offers built-in contactless processing, color screen and large, back-lit buttons for high visibility.

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Sindh Bank switches to AutoSoft Core Processing

AutoSoft Dynamics bank automation IT solutions signed an agreement with Sindh Bank to provide its “AutoBANKER” software to automate their core banking operations in over 150 branches. The “AutoBANKER” modular architecture and real-time online processing functionalities have allowed banks and other institutions to streamline their core banking services as well as automate more complex banking operations.

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VeriFone NFC mSolution Awarded for Innovation

Awarded the SESAME 2011 award at the e-Transactions CARTES & IDentification trade show, the VeriFone “PAYware Mobile Enterprise” works with magnetic stripe, chip and PIN, and contactless/NFC-enabled cards and phones. This honor recognizes the best technological innovations in terms of digital security and smart technology and are the world reference for the payment industry. The “PAYware Mobile Enterprise” offers a mobile card acceptance solution that integrates existing in-store POS systems. It implements “VeriShield Protect” card data encryption and a bar code scanner to provide retailers with a secure solution for mobile POS and other applications.

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Thales achieves PCI HSM compliance

Thales’ “payShield 9000” Hardware Security Module (HSM) has achieved PCI HSM compliance. Acquirers and issuers can now build systems based on a PCI HSM that meet the requirements of the PCI Security Standards Council (PCI SSC). PCI HSM is the first HSM standard to be introduced to specifically address the security requirements when handling cardholder data and is projected as the default requirement for payments-related HSMs and is already explicitly mandated in recent guidelines and encryption standards issued by the PCI SSC. The “payShield” offers a high-performance tamper-resistant security platform that protects cryptographic keys and other sensitive information such as customer PINs and cardholder data.

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Unemployment Rate Lurches Toward Improvement

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The October unemployment improved to 9.0% from 9.1% in September, the lowest since May, after having shown repeated rates of 9.1% throughout the spring and summer. Given the pre-recession unemployment rate averaged around 5%, the unemployment rate has been relatively high for the past few years. Nevertheless, it has finally shown…

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InteliSpend Prepaid Enhances Discover Prepaid Cards

InteliSpend Prepaid Solutions announced new Discover prepaid card products that will be available at the end of November, the fourth and final major payment card network on which the Company will offer intelligent prepaid solutions for business. The Discover card places a stronger emphasis on a client’s brand and where the card can be spent, particularly important in the prepaid-for-business space. Implementing InteliSpend’s DirectSpend process, the Discover products allow the Restricted Authorization Network (RAN) feature to direct spending to a limited set of merchants and retailers.

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DFC Global Names New President

Ken Schwenke has been appointed President with DFC Global unbanked and under-banked financial services. Schwenke will focus on driving innovation for the Company and assume responsibility for strategic planning and new market development. He has served as a member of the board of directors from 2006, and has served as a member of the audit, governance, and compensation committees. Schwenke earned a bachelor’s degree from Syracuse University, and a Masters of Business Administration from Duke University.

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Citizen’s Bank Deploys Jack Henry Processing

Jack Henry & Associates payment processing services announced Citizens Bank is set to implement its “SilverLake” core processing system. The bank will implement “SilverLake” through Jack Henry Banking’s outsourced offering. The Citizens Bank will initially implement an array of Jack Henry Banking’s complementary solutions including StreamLine Platform Automation-Deposits; OnBoard Loans; InTouch Voice Response; components of the jhaPassPort-ATM and debit card transaction processing platform; Cognos 8 BI business intelligence and enterprise reporting; BIG Rewards customer rewards and loyalty; Yellow Hammer Fraud Detective; Yellow Hammer BSA; Margin Maximizer Suite; Relationship Profitability Management (RPM); PROFITstar® Classic-asset/liability management and budgeting; components of the Synergy Enterprise Content Management (ECM) solution; and jXchange for open connectivity with third-party products.

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City National Bank Implements Fiserv Banking

Fiserv financial services technology solutions announced Miami-based City National Bank of Florida has selected the Premier bank platform from Fiserv to support and enhance the bank’s rapidly expanding regional footprint. The $3.8-billion financial institution cited the scalability, breadth and flexibility of Fiserv products and services as key factors in its decision. City National selected a number of additional solutions from Fiserv to supplement its Premier bank platform, including Business Process Manager, Director for electronic content management, Branch Source Capture for remote deposits, EnAct for enterprise sales management, Prologue Financial Accounting Services, and several card services solutions including the ACCEL/Exchange PIN debit network.

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