Warehouse deploys NCR POS

NCR Corporation announced that Warehouse Marke family-owned grocery chain deployed its “RealPOS 80XRT” POS terminals and “RealPOS High Performance Bi-Optic Scanner/Scale” at 16 locations to improve its point-of-sale operations, making checkout efficient and fast for its customers. The supermarket chain chose NCR to improve transaction speeds, minimize transaction delays and upgrade its POS hardware, enabling the company to take advantage of next-generation POS applications, such as digital promotions and advanced reporting capabilities.

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As Seen on TV Partners Offers PowerPay Mobile App

As Seen on TV partnered with PowerPay merchant account payment processing solutions. This allows As Seen on TV marketers to accept payment utilizing a mobile processing solution through a mobile App. It also provides a convenient method for purchasing these products on any smartphone direct from the manufacturer. The integration between the App platform and PowerPay’s processing solution will provide a seamless transaction for both the consumer and the marketer. This provides clients advanced payment solutions.

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Xpress Money Expands Network

Xpress Money embarked on the Ireland and Denmark markets. Given 19% of Ireland’s population constitutes of immigrants with a number roughly around 900,000, with a major concentration in Dublin and in suburbs like Clondalkin, Tallaght, & Blanchardstown, Ireland is being both a send and receive corridor. Figures show inward remittances are at about USD 618 million and outward remittances at USD 2bn. Meanwhile, in 2009, the inward remittance to Denmark was at USD 926 Million and has gone up to USD 952 Million in 2010. Outward remittances were significantly higher at USD 3417 Million. Xpress Money’s entry into Denmark couldn’t have been at a more opportune time, with the remittance industry picking up pace.

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Credit Card Market Projected to Boom

The number of payment cards, categorized as credit and debit cards, is increasing rapidly in India. With increasing number of credit card holders and rising consumer confidence regarding credit card purchase, the transaction value of credit cards in India is forecasted to increase at a CAGR of around 8% during FY 2011-2013, according to a RNCOS research report, “Indian Payment Card Market Forecast to 2012.” This growth will be largely attributed to the improving credit card payment infrastructure in the country, with most of the merchants accepting credit card payments at POS terminals. Banks have also tightened their rules of issuing credit cards on account of increasing fraud cases, which have also helped in improving the credit card infrastructure in the country. While the Reserve Bank of India has imposed several restrictions on the foreign banks, there are no such restrictions on credit card companies, so these banks dominate the Indian credit card market.

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eServGlobal Subscriber Stimulation Service Deploys 2degrees

eServGlobal announced 2degrees New Zealand operator implemented its Subscriber Stimulation Service. With this, 2degrees becomes the 17th operator around the world to deploy eServGlobal’s Subscriber Stimulation Service. Using eServGlobal’s Software as a Service (SaaS) facilities, the service was operational in just 3 weeks. eServGlobal’s SaaS Subscriber Stimulation Service allows operators to micro-segment customers based on pre-determined parameters in order to implement targeted stimulation campaigns. 2degrees is the fastest growing mobile operator in New Zealand and is consistently focussing on innovative ways to fuel this growth.

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Clear2Pay Facilitates ITSO Certification Center

Clear2Pay next generation payment solutions for financial institutions is supporting ITSO, the government-backed, not-for-profit organisation which defines and develops the UK-wide technical specification for smart ticketing, with the implementation of a Certification Centre in the United Kingdom. Clear2Pay will also provide further consultancy services to ITSO and deliver Integri Test Solutions to their vendor community. ITSO has relied on Clear2Pay’s test technology and knowledge and used the company’s in-house laboratory to certify the ITSO vendor community since 2003. Under the terms of the new contract, Clear2Pay facilitates knowledge transfer so that ITSO can operate its own testing and certification center, allowing members and third party vendors to certify transport smart cards and devices against the prevailing specifications.

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Point Payment Enlists Trustwave Security Training

Trustwave information security and compliance solutions has been selected by Point electronic payment service to provide Security Awareness Education (SAE) training on proper handling of payment card data and compliance validation. Trustwave SAE is a portal-based technology that provides on-demand content offering simple, efficient and easy to track employee training. Trustwave developed a custom security program for Point, which included information on payment transaction security, as well as company security awareness. The contents of the program were translated into Danish, English, Finnish, French, Norwegian, Latvian and Swedish to ensure all employees could complete the courses in their native languages for a more thorough understanding of payment security.

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1H/11 BANKRUPTCIES DOWN 8% Y/Y, 2Q/11 FIGURES UP 4% Q/Q

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] 1H/11 bankruptcies were down 8% from the year ago period in the US with total filings having reached 745,968. This compares to the year ago figure of 810,209. Meanwhile, bankruptcy filings were up 4% in 2Q/11 to 379,790 from 1Q/11 filings of 366,178. Among the first-half figures, filings by households with…

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Bank of America Launches New Cash Rewards Program

Bank of America is launching “BankAmericard” Cash Rewards and Cash Rewards for Business MasterCard credit cards that reward customers with up to 3% cash back on certain purchases. The “BankAmericard” Cash Rewards card includes a 10% bonus when customers deposit their cash rewards into their Bank of America checking or savings account. Both cards have no expiration on rewards. The new “BankAmericard” Cash Rewards credit card includes 1% cash back on all purchases; 2% back on grocery store purchases; and 3% on gas station purchases. Meanwhile, customers earn 2-3% cash back on gas and grocery purchases up to the first $1,500 per quarter. For Business MasterCard credit card offers 1% on all purchases; 3% on all restaurant purchases; and 3% on office supply store, gas station and computer network service purchases.

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USA Technologies Expands to Include Stand-Alone Wireless

USA Technologies wireless, cashless payment and M2M telemetry solutions for self-serve retailing industries expanded its JumpStart program to include a stand-alone wireless telemetry solution. This provides the full array of vending technology solutions under its JumpStart program, enabling customers the flexibility to participate in this program for cashless payments, telemetry, or both. The USA Technologies’ JumpStart program makes it possible to implement the latest in USA Technologies’ cashless payments and wireless telemetry solutions with no capital cost and no long-term commitment. USA Technologies’ ePort wireless telemetry solution for the vending industry is designed to provide customers with maximum flexibility, is VDI-compliant and compatible with the vending industry’s leading providers of vending management software systems, including Crane Merchandising Systems’ Streamware and VendSys, as well as the proprietary systems of several large customers. USA Technologies’ ePort Connect service is the industry’s most flexible and interoperable solution for cashless payments and M2M telemetry services.

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Fiserv Reduces Heartland Reserve Requirements

Fiserv financial services technology solutions announced Heartland Financial USA has signed on to use its ReserveLink deposit reclassification solution. ReserveLink will help Heartland to generate additional investment income by greatly reducing or eliminating the need to maintain balances in accounts at the Federal Reserve. Using ReserveLink from Fiserv, Heartland, a $4 billion multibank holding company, sweeps transaction account balances into non-transaction accounts, converting low-interest bearing Federal Reserve account balances into earning assets. Heartland Financial uses the Signature™ bank platform, debit processing, ACCEL/Exchange® PIN debit network, Prologue™ Accounts Payable, Prologue General Ledger and a variety of solutions from Output Solutions at Fiserv.

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GE Capital Agents $115 Million Evolution1 Credit Facility

GE Capital has closed, as administrative agent, $115 million in senior secured credit facilities for Evolution1. The financing was used to recapitalize Genstar’s acquisition of Evolution Benefits and support the company’s acquisition of Lighthouse1. GE Capital Markets served as sole lead arranger and joint bookrunner. Evolution1 and its partners serve more than seven million consumers, making it the nation’s largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, Wellness and Transit Plans. It meets up to 1,200 unique plan designs, provides innovative auto-substantiation technologies, simplifies user experience, and automates workflow for partners, employers, and consumers.

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