UnionPay Beats Out Visa as Largest Card Association

China’s UnionPay is now the largest payment card scheme in the world, its brand appearing on three in every ten cards worldwide. Visa cards are still well ahead in terms of usage and spending, and the fact that most UnionPay cards are found in China. The global market is projected to expand from 8.0 billion in 2010 to 10.1 billion by 2015, as a slowdown in card issuance in the mature North American and western European regions is more than offset by rapid growth elsewhere. The prepaid and debit card sectors each grew by more than 10% in 2010, whilst the credit card sector contracted by 6%. Although debit cards make up 62% of the card base worldwide – a share that has risen by four percentage points since 2009 – there is still considerable potential for further growth.

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Vend POS provider raises funding, Set to Expand

Vend online pos software has secured a significant injection of capital from a European investment consortium led by Point Nine Capital to accelerate its international growth, expansion of its development team and opening a California sales office. Vend provides an intuitive and powerful web-based POS software that lets retailers process sales, track inventory, and manage customers. Vend now has thousands of users in more than 80 countries, less than a year after it was launched.

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Chargeoffs & Bankruptcy Improve Without Outstanding Balances

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] As consumers continue using credit cautiously, charging less and increasingly paying down balances this summer, total outstanding revolving credit edged up 7.9% to total $798.3 billion, reflecting a second consecutive month of increase. With credit card defaults having registered the second largest monthly decline since 2005 and now on par with…

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Citi Commercial Cards to Issue Chip & PIN Card

Citi launched its “Citi Corporate Chip and PIN” compliant smart card designed for U.S. corporate cardholders traveling abroad. The card includes an embedded microprocessor and was developed in direct response to clients’ needs to use their U.S. commercial cards while traveling to regions where merchants are more familiar with chip cards and for use at un-manned kiosks where an agent is not always available to run the transaction through a POS device. Citi has achieved its rapid expansion around the globe by providing clients with the consistent business experience that only a common unified technology platform and lack of reliance on bank partners can provide. As a result, Citi clients around the world benefit from consistent customer service, functionality, reporting, and innovative products such as the Citi Corporate chip and PIN card.

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MasterCard Names Managing Director, Access Prepaid Worldwide

MasterCard Worldwide announced Debra Janssen has been appointed managing director of MasterCard’s Access Prepaid Worldwide subsidiary. Janssen will oversee operations and continue to advance the Access Prepaid Worldwide business, which is focused on the management and delivery of consumer and corporate prepaid travel cards to business partners around the world, including financial institutions, retailers, travel agents and foreign exchange bureaus. She will add this position’s roles and responsibilities to her current purview as group executive, Integrated Processing Solutions (IPS) at MasterCard, given her experience as executive vice president of EFT Processing Services for Fidelity Information Services and president of Debit Services Group and the STAR Network at First Data Corporation.

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USA Payment Systems’ Director Granted Gaming License

USA Payment Systems processor of financial electronic transactions for Casinos, Community Banks, Credit Unions, and ISOs, announced that Robert Cucinotta, Director and President of the company, received his gaming certification for a full gaming license from the Arizona Department of Gaming. Cucinotta has been an innovator of financial transaction processing systems since 1995, having founded both Global Cash Access (NYSE) and MCA Processing, LLC, based in Las Vegas, NV.

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New iPhone/iPad/iPod touch app Offers full POS

effortlessE’s webPOS Mobile iOS app and an optional iPhone/iPod touch webPOS Cradle lets merchants create sales, scan bar codes, swipe credit cards and have the customer sign on the screen with their finger. Once the sale is complete, you can even email the receipt with the captured signature on it, all from an iPhone or iPod touch. effortlessE has almost 10 years of experience in providing web based point of sale, in fact we were the first to offer a web based POS in 2003. At the request of clients, prospective clients and business partners alike we have created the first publicly available app to provide the full point of sale terminal in the palm of your hand. The app provides full sales functionality including product search, customer search, payments (including credit card processing), email receipts and signature capture accomplished by the customer signing on the device screen with their finger.

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APG Cash Drawer Recognized by POS Reseller Community

APG Cash Drawer has recently been chosen for two awards by the Point of Sale community, including RSPA’s Outstanding Hardware Provider Silver award and Business Solutions Magazine’s Best Channel Product award. Both awards reinforce APG’s commitment to support the reseller channel, while also confirming the durability and reliability of APG’s products and services. The Retail Solution Provider Association’s (RSPA) Vendor Award of Excellence is voted on by members of the association and recognizes APG as a Vendor of Excellence for Outstanding Provider of Hardware for 2011. The Best Channel Product Award is given by Business Solutions Magazine to acknowledge best of breed channel products.

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Lecere Completes Upgrades to Its Software

Lecere Corporation software development has completed a series of upgrades to its FIRMS software, including an improved interface to the iPay POS app for credit card processing that preserves our unique operating system and device independence, an optional fast-food operations mode, fast-food bulk pricing and discount schedules, and a ten-fold increase in FIRMS performance and scalability. The company also announced its intentions to focus on major food distribution companies to sell their FIRMS software solution.

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Prolexic DDoS Mitigation Provider Awarded PCI DSS Certification

Prolexic Technologies Distributed Denial of Service (DDoS) mitigation services has gained PCI DSS level 2 certification. Prolexic has observed an increase in the number of encrypted attacks against web properties. Typically, these attacks use Secure Socket Layer (SSL) to start an application layer (Layer 7) attack. To monitor and mitigate these encrypted attacks effectively, Prolexic requires that a customer provide their data decrypting private keys. While PCI DSS certification is not required because Prolexic does not store or process any credit card data, certification makes it much easier for a compliant organization to onboard with Prolexic.

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Grant Victor Appoints New CEO, Poises to Expand

Grant Victor (www.GrantVictor.com) ATM services and solutions is poised for further growth and expansion with the appointment of a new CEO and by successfully acquiring capital investment. The company appointed David D. Charles as Chief Executive Officer. Mr. Charles has over 30 years of management and executive level experience. In 1999, Mr. Charles founded Red Hawk Industries, a national provider of equipment and services to financial institutions. During 2006, Red Hawk Industries was sold to United Technologies Corporation.

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