Nordea Expands Card Processing Internationally

Nordea extended its partnership with Nets for handling payment cards to also include the Finnish market. Now Nets will be responsible for processing all payment transactions completed using payment cards for Nordea’s Nordic customers in Denmark, Norway, Sweden and Finland, which will now cover more than 100,000 merchants with more than 425 million annual transactions. Nordea and Nets will be ready to deliver full-scale at the beginning of 2012 and offer card acquiring on Nets’ global platform.

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Turkey and Russia at Cutting Edge of Payment Technology

MasterCard Worldwide ‘Tech Nation’ poll now shows how various European countries are leading the way with new payment technologies such as mobile and contactless. The online research, conducted in November by Ipsos MORI amongst more than 8,000 adults aged 16-64 across Europe concluded Turkey and Russia top the table of tech savvy countries where 31% (Russia) and 13% (Turkey) currently use mobile payment technologies, well above Great Britain at just 6%. Equally, contactless technologies have been adopted by more people in Russia (12%) and Turkey (10%). With this, consumers in Russia and Turkey have the greatest uptake of mobile and contactless payment technologies, although Russia lags behind the other countries surveyed on e-commerce payments (49%) while the use of cheques is still prevalent in France (75%) and GB (56%) whilst in Russia, Turkey and the Netherlands this figure is just 4%. Of those consumers using contactless technology today, those in Russia (44%), the Netherlands (47%) and Germany (44%) use this technology more frequently – on a daily or weekly basis.

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UAE Exchange Expands Global Remittance

Now money can be sent from New Zealand through “Money2anywhere” online money transfer portal from UAE Exchange. With this, UAE Exchange will offer customers its “Xpress Money” global instant money transfer brand; “FLASH” real time account credit; “XPay” secure bill payment through mobile phone; and “Smart Pay” WPS-compliant payroll solution. The remittance major reaches out to its customers and their loved ones through over 555 direct offices in 29 countries.

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Chase Paymentech launches Anti Fraud

Chase Paymentech merchant acquirer and payment processor launched its Safetech Fraud Tools in Europe to help protect merchants from online payment fraud. Available to Chase Paymentech Europe customer-not-present (CNP) retail customers, Safetech Fraud Tools are designed to help online retailers retain legitimate sales while preventing fraudulent transactions. Safetech Fraud Tools are an innovate suite of security solutions designed specifically to combat fraud with real-time and automated fraud screening service. Additionally, Safetech Fraud Tools provide a fraud score with each payment transaction to indicate the level of risk associated with it. It determines the location and device identification of the customer via custom scripts run on the retailer’s online payment page.

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China UnionPay joins Multos Consortium

China UnionPay (UnionPay) has joined the Multos Consortium. China UnionPay payment brand has more than 2 billion cards performing over USD$1.8 trillion in transactions in 2010. As China’s banking card issuers start for PBOC chip migration, there is a growing need to ensure a number of leading chip operating systems are available. China UnionPay has joined the MULTOS Consortium to signal the endorsement of MULTOS as one of the technologies for Chinese chip card issuing.

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G&D Completes MasterCard Certification

Giesecke & Devrient (G&D) has been certified by MasterCard for its Canadian TSM (Trusted Service Manager) hub. Now well positioned to offer commercial TSM services at two sites globally, providing customers with the ability to implement robust and reliable mobile payment solutions, G&D’s TSM new hub is also the first approved by MasterCard’s Mobile Partner Program. G&D’s TSM, banks and service providers have a standardized, easy to use, cost-effective and secure method to transfer and install PayPass™-enabled payment account information, on demand, in real time, onto Near Field Communication (NFC)-enabled mobile phones.

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First Data Corporate Rules Gain UK ICO approval

First Data’s binding corporate rules for data privacy have been authorized by the United Kingdom’s Information Commissioner’s Office. Approved by the data protection authorities in 18 European Union member states, the First Data rules are in response to the European Union’s “Data Protection Directive” for rigorous data privacy protections. First Data’s binding corporate rules are designed to enforce a consistent high standard for protecting personal data throughout the organization, and will allow First Data to transfer personal data from the European Economic Area to its affiliates elsewhere in the world”which is prohibited under the European Union Data Protection Directive unless adequate safeguards are in place.

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Romanian banks to issue MasterCard OTP Cards

Credit Europe Bank and Carpatica Bank are launching the MasterCard “Display Card.” Offering an interactive card which incorporates a display and one or more touch sensitive buttons, addition to all the traditional payment card features, the “Display Card” allows cardholders to use the buttons to generate information – numbers and/or text – in the visual display which can enhance their payment or banking experiences in a number of ways. MasterCard Display Cards can be used to either authenticate online transactions, by generating One-Time-Passwords, or as an “information card” enabling cardholders to access valuable information such as account balance or transaction history quickly and conveniently.

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Samsung to Unveil NFC Payment Chip at CARTES 2011

Samsung advanced semiconductor solutions announced its “SENHRN1” system-in-package (SIP) NFC chip. The Secu-NFC chip combines a NFC controller and a secure element storing personal information and security keys with advanced encryption technologies, a prerequisite for reliable and efficient mobile payment on NFC-enabled mobile devices. The new solution is based on Samsung’s proven in-house expertise and experience in smartcard ICs, which involves advanced RF sensitivity features and enhanced data encryption technologies, and its wealth of package technology, utilizing advanced SIP technology.

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INSIDE Secure Adds NFC With SIM Card

INSIDE Secure announced a major technology innovation that allows an NFC card emulation solution to fit into a standard SIM card form factor and still achieve industry-standard 4cm proximity transaction performance. The INSIDE core technology is part of an initiative that will allow the company to bring multiple new NFC products to market in 2012 and 2013, both directly and with key strategic partners. This core technology creates significant improvements over conventional NFC core technology, enabling 4cm or greater contactless read distance in a mobile device with an antenna footprint of less than 1cm2. For this, a SIM card containing the INSIDE core technology chip is inserted into the SIM slots of selected legacy phones from leading handset makers, making them instant NFC contactless payment devices.

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Retail Card Charge-Offs Post Record Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] October defaults are nearing four year lows while the Fitch Credit Card Chargeoff Index broke below the 8% mark during the October. Dropping 89 basis points (bps), retail defaults stood at 7.78%, levels last observed in February 2008 and remaining 33% lower year over year. Meanwhile, late stage delinquencies snapped a…

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Intel and MasterCard Partner to Secure ePayment

Intel Corporation and MasterCard forged a multi-year strategic collaboration to further enhance the security and consumer payment experience for online shopping. Combining MasterCard payment processing with Intel silicon innovation and chip-based security, the partnership will provide more options for a safer and simpler checkout process for online merchants and consumers using Ultrabook devices and future generations of Intel-based PCs. Together, the Companies will refine MasterCard’s “PayPass” and Intel “Identity Protection Technology (IPT).” Intel “Identity Protection Technology” implements two-factor authentication and hardware-based display protection for online security against malware.

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