YES BANK Fores Strategic Banking Alliance with Indian Army

YES BANK signed an MoU with the Indian Army for the YES VIJAY Salary Account, designed exclusively to cater to the needs of the Army personnel. YES-VIJAY Salary Account will offer the Lifetime Unique Zero Balance Savings Account, Anywhere Banking at all branches on an online real-time basis, Free Supplementary Shopping-cum-ATM Card for Joint Account holders, Free Additional ATM Card for single account holders, Personal Loans & Salary Overdraft & Education Loans at concessional rates amongst a host of other benefits. Army personnel will also be able to gain from YES BANK’s Wealth Advisory Services through a dedicated Financial Advisor, who will be a one point contact for all financial services needs including banking, investments and insurance and other special needs.

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INSIDE Secure Names VP Applications and Ecosystems

Laurent Sanchez has been named VP, applications and ecosystems with INSIDE Secure semiconductor solutions. Bringing with him a background in chip technologies, electronic payment, and mobile software brings valuable industry relationships to INSIDE’s growing ecosystem of mobile, NFC, and payment partners, Sanchez will open NFC technologies, establish relationships and launch strategic initiatives with key industry partners in the payment and mobile ecosystems, as well as lead business development activities for INSIDE’s applications and services. He most recently directed strategic initiatives, partnerships, and application ecosystems for Audience, a pioneer in intelligent voice processing technology, developing application business and creating a community of third-party developers. Sanchez holds a master of business administration degree from the Graduate School of Management in Aix en Provence, and a master’s degree in electronics and computer science from INSA.

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RBS Implements cash withdrawals at Post Office branch

The Post Office announced that Royal Bank of Scotland Group, or RBS, retail and business current account customers will be able to make cash withdrawals and balance enquiries at any Post Office branch in the UK. Holders of 19 million RBS Group debit cards across the three brands will benefit from this new arrangement. The Post Office will not charge for the transactions now available at all 11,800 Post Office branches nationwide. Withdrawals up to daily individual limits are available and customers only need their debit card and PIN to access their cash. Around 80% of total UK debit cardholders can now access their money at Post Office branches, the company said.

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Consumer Can Absorb Double-Dip Shock

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Traditional U.S. consumer ABS ratings have demonstrated stability in the event of a double-dip recession, following the economic crisis. With this, nearly 99% of all investment grade U.S. credit card ABS either stayed investment grade, were upgraded or paid in full between summer 2007 (viewed by many as the launch of…

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MasterCard Hit $4mm Mark, Benefits Cancer Research

MasterCard Worldwide announced it has reached its goal of raising $4 million for Stand Up To Cancer (SU2C) through its “Eat, Drink and Be Generous” campaign. MasterCard made a donation to SU2C every time cardholders used their MasterCards when dining out. To keep the momentum moving forward with additional support for SU2C, MasterCard has partnered with Rewards Network, who powers the leading dining rewards programs in North America, including “iDine” for which through Oct. 31, 2011, Rewards Network will donate 50 cents to SU2C when diners use a registered MasterCard in qualifying transactions over $15 made at participating iDine restaurants. Diners enroll and register the MasterCard they use when dining out at over 10,000 participating restaurants.

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Discover Ranks Best for Resolving Identity Fraud

Discover ranks best in identity fraud resolution among the top U.S. credit card issuers for the second year running. This, according to the latest Javelin Strategy & Research’s annual assessment of identity safety in the credit card industry, ranks among the top 23 card issuers in the categories of identity fraud prevention, detection and resolution based on research from issuers’ websites and calls to customer service representatives. Pushing it to the top, available security features for Discover cardmembers include a $0 Fraud Liability Guarantee; Proactive account monitoring for suspicious activity; Fraud alerts via phone, e-mail or text; Dedicated fraud specialists; Credit score monitoring; Paperless statements; and Fraud prevention education tips.

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SelectCore launches Iridium MasterCard m-banking app

SelectCore prepaid telecom and financial services transaction processor for the under-banked consumer market launched its mobile banking app for Iridium MasterCard. The Blackberry app is available free of charge to registered Iridium Cardholders on a secure platform and will soon be available to iPhone and Android users. Downloaded instantly from the cardholder’s online account, the new mobile banking app allows cardholders to check their account balance, view recent transaction history and money-share between other Iridium cardholders in real-time.

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Datapipe Unveils PCI Certified Cloud

Datapipe managed services and infrastructure for IT and cloud computing made public its PCI DSS 2.0 Level 1 Service Provider certified cloud computing platform. Coupling a custom PCI certified cloud infrastructure with a suite of managed security services to enable PCI compliance, Datapipe’s PCI Certified Cloud is not a “mixed-mode” deployment. Layering enterprise grade managed security services on top of this elite cloud maintains the integrity of the environment and provides a truly unique offering and is in addition to Datapipe’s recently announced Intrusion Detection Service (IDS) deployed on Amazon Web Services in partnership with Alert Logic.

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Casualty of Durbin?

Laredo, Texas-based International Bancshares will close 55 grocery store branches and lay off 500 people in what the article calls a response to the Durbin Amendment. The Amendment, effective Oct. 1, puts a cap on what banks can charge merchants for debit card transactions. The bank is closing the branches in order to continue offering free checking to its customers after relying on revenue from debit card fees to cover the cost of free products and services for consumers.

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PCI DSS QSA Reveals Top 10 PCI Compliance Challenges

PCI DSS QSA Charles Denyer reveals his top 10 Challenges and Recommendations list regarding PCI compliance, which is a must-read for any merchant, service organization or any other entity involved in the processing, storing, or transmitting of cardholder data. The “Top 10 PCI List” addresses provisioning, hardening, securing and locking-down all in-scope “system components;” anti-virus; two-factor authentication; web application firewall (WAF); audit Trails and Logging; log Server | Syslog; File Integrity Monitoring; Intrusion Detection System; Policies and Procedures; and Operational Commitments from Internal Personnel.

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Debit MasterCard Rewards Program Introduced

The MasterCard “Money On The Go” program offers a Prepaid Debit MasterCard with a 1:1 ratio of reward points, with each point worth a $1.00. Redeemable towards 80,000 brand name products offered at its on-line reward site, the “Money On The Go Network” gives members a one dollar reward point for every dollar loaded onto their Mongo Prepaid MasterCard and members can redeem up to 1,000 reward points every month at their on-line rewards mall. But that’s not all! The “Money On The Go” has also included their LeisureXpress and SaversXpress benefits that save members 20-50% off at over 200,000 national recognized retailers.

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Community & Southern Bank Adds NCR ATMs to Network

Community & Southern Bank, a financial institution with more than forty branch and ATM locations throughout Georgia, will deploy 35 new NCR “SelfServ ATMs” to replace existing units and expand into new sites. Eighteen of the new NCR SelfServ ATMs will include NCR’s Scalable Deposit Module (SDM) technology, the only technology on the market that allows consumers to deposit both cash and checks simultaneously in any orientation through a single slot. The new SDM technology, designed for NCR SelfServ ATMs, delivers a consumer deposit experience that is twice as fast as other ATMs. Community & Southern Bank is using NCR “APTRA” software with “Promote,” “Exchange” and “Edge” to further enhance ATM capabilities.

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