Ingenico & MoneyGram Offer Money Transfer

Ingenico payment solutions partnered MoneyGram International money transfer to offer money transfer services throughout the Sepa Europe Region through Ingenico Prepaid Services. With this, Ingenico Prepaid Services expects to implement this Money Transfer service in about 100 of its partner points of sales. The MoneyGram service meets the needs of a population of immigrants and immigrant descendants of more than 6 million people in France who want to transfer money quickly and economically to relatives in their countries of origin.

Details

Cashzone Inks Roadchef ATM

Cashzone independent ATM provider will retain and add to the ATMs it operates at the First Motorways sites newly acquired by Roadchef Motorway Service Area (MSA) operators. Roadchef’s acquisition of First Motorways in August added the Magor MSA, at junction 23A of the M4, and the Symonds Yat trunk road site on the A40 to its portfolio of sites, increasing its motorway service area estate to 20 locations across the UK.

Details

Discover Consumer Confidence Index Nears Record Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor dropped to its lowest level since February 2009, having recorded a 3.5 point drop to 77.0%. Only 1.3 points higher than the record low reported in February 2009, The Monitor also shows 66% of consumers rated the economy as poor, up 2 points from last month…

Details

Heartland Puts Figures to Durbin Impact

There are now solid numbers to fall back on regarding the Durbin Amendment swipe fee reform impact. Confirming it reduces processing cost, Heartland Payment Systems saved its merchants a total $1,779,568 in debit interchange reductions across the U.S. and estimates its average merchant will save more than $1,000 in the first year alone. Additional findings following the October 1 implementation show 65% of Heartland’s signature debit sales volume qualified as regulated; there is a savings of $0.21 per transaction for regulated (vs. non-regulated); the average signature debit non-regulated interchange fee per transaction is $0.44; and the average signature debit regulated interchange fee per transaction is $0.23.

Details

American Express Intros Currency Exchange at Boston Logan

American Express Foreign Exchange Services will provide a range of Currency Exchange services to travelers at Boston Logan International Airport. With this, six permanent Currency Exchange locations and a mobile cart will serve the 4 million annual international travelers throughout the check-in area, landside arrivals, orientation area, and airside departures within the terminals with the seventh permanent location to be open soon. Services will include foreign cash sales and buybacks; prepaid products such as American Express Travelers Cheques sales and encashments, and American Express Gift Cards; and Travel Insurance.

Details

Visa Adds Seasoned Mobile Payment Veteran

Visa appointed Gavin Krugel to its global mobile team to support the activation of mobile money programs for Fundamo customers, where he was previous and which was recently-acquired by Visa. The Fundamo mobile money platform extends Visa products to unbanked consumers in developing economies. The platform specializes in the implementation of mobile money services across developing markets in Asia Pacific, Central Europe, Middle East and Africa. Gavin was also senior director at the GSMA, the global association that represents the worldwide mobile industry, where he led the GSMA’s mobile money efforts in international remittances and in making financial services available to the unbanked through mobile, such as the Mobile Money for the Unbanked and Mobile Money Transfer initiatives.

Details

Dynamics Completes Multi-Volume Launch Agreements

Dynamics next-generation payment cards has executed multiple volume agreements with card issuers to launch its next-generation magnetic stripe products within the United States. The cards feature a card-programmable magnetic stripe. Dynamics has utilized this innovation to create a number of new products capable of meeting consumers’ needs for more choice and flexibility at the point of sale. These include the “MultiAccount” device, which includes two buttons on the face of a card with which a user can select an account by pressing one of the buttons; “Hidden,” which includes five buttons on the face of a card and a paper-thin flexible display and hides a portion of a cardholder’s payment card number, only revealed with PIN entry; and “Redemption,” printed with a single credit account number and includes two buttons with associated light sources and visually indicates the selection by turning ON the light source associated with the selected option.

Details

First Data and Associated Bank Renew Multi-Year Deal

First Data electronic commerce and payment processing resigned Associated Bank to a long-term merchant services renewal agreement, by which First Data will continue to provide merchant processing services to the bank’s business clients nationwide, from large national merchants to local business owners. The bank’s clients will have access to a comprehensive line of electronic payment solutions for acceptance of all major credit cards including PIN and signature-based debit cards, gift cards, customized reporting and electronic check verification services.

Details

Card Payment Direct Posts 3Q/11 Results

Card Payment Direct electronic payment processing saw significant sales growth in 3Q/11, with new merchant acquisition having grown by 137%, overall company revenue grew by 84% and monthly processing volume increased by 821%. Card Payment Direct is also pleased to announce the long awaited release of “Info Central”, a Sales, Marketing and Customer Management tool that will allow company employees and Independent Sales Representatives to continuously provide the highest level of service our customers. Info Central provides a 360-degree view of the customer which will enable each and every department to improve the quality and satisfaction of each customer interaction.

Details

PayPal to Unveil Physical Store in New York

PayPal is planning to open a brick and mortar store in New York Nov. 1 to promote its new mobile payment technologies. PayPal over the next 3.5 months will be looking to lure retailers to the location in order to demo its new POS products. A QR code will also be integrated into the set-up so that passer-byers on the go can learn about PayPal’s new offerings. PayPal will also be highlighting its offering for merchants that incorporate PayPal into both the checkout and mobile payment processes.

Details

3Delta Systems Encourages Fight Against Card Fraud

3Delta Systems online credit card processing solutions observed National Cyber Security Awareness Month by issuing its “10 Business Best Practices for Fighting Credit Card Theft and Fraud,” a set of business best practices for protecting customer credit card account information and minimizing corporate exposure to online payment scams. Entitled 3DSI’s tips consists of tried-and-true tools and techniques for companies to use in detecting and deterring online thieves from stealing sensitive payment data from their computer systems. The best practices are available for download from 3Delta Systems’ site.

Details

Western Union Offers Internet Safety Tips

Western Union is offering the latest information and tips on common Internet scams. For example, the ‘Failure to Deliver Merchandise’ scam reaches an agreement to purchase an item from a seller (the fraudster) via the Internet. The seller requires payment through a money transfer service, such as Western Union, and picks up the funds using a professionally produced fake ID. The promised merchandise is never delivered. Also the ‘Overpayment Using a Fake Check’ scam a seller (the victim) reaches an agreement to sell an item to a buyer (the fraudster). The seller receives what appears to be a legitimate check drawn on a well-known bank for an amount higher than the agreed upon price. The buyer concocts an explanation for the overpayment and instructs the seller to deposit the check into a bank account, withdraw the excess funds and send those funds back using a money transfer service. The fraudster picks up the funds using a fake ID and the victim is left responsible for the bounced check.

Details