ACH Alert granted fraud prevention patent

ACH Alert has been granted a patent for its fraud mitigation system, including its “A.L.E.R.T.,” which goes well beyond a simple process of alerting an organization that an ACH transaction has been attempted. ACH Alert’s patented automated processes provide real-time protection for commercial and individual clients, simplifying the identification of trusted trading partners for the client independent of bank involvement and making the dispute resolution process a “lights out” proposition for the financial institution. The more restrictive ACH “debit block” results in a systematic return of any ACH debit that is presented and provides complete protection against unauthorized ACH debits, but also prevent a business from leveraging the cost-reducing benefits of ACH.

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Spark Response To Enjoy third PCI compliant year

Spark Response has embarked on its third year as a company compliant with PCI DSS, among the first contact centers in the Country to do so. Enhancing payment card data security, which include a framework of specifications, tools, measurements and support resources to help organisations ensure the safe handling of cardholder information at every step, Spark also provides contact center and fulfilment support to organisations including Toys R Us, Cancer Research UK, Straight Plc, Even Greener, Best Direct, Red Direct, FitFlop and Soap & Glory.

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MoneyGram Adds 1,103 South American Agent Locations

MoneyGram International added Bancolombia in Colombia; Banco de Credito in Peru, and Banco Vision in Paraguay for a total of 1,103 new agent locations, equating to 11,305 locations on the Continent. MoneyGram’s service will be offered in each Bancolombia location in Colombia, which accounts for more than 25% of the remittance business in Colombia and expects to gain market share by providing MoneyGram service. Banco de Credito Peru signed a multi-year agreement to provide MoneyGram’s service in its more than 335 locations. Meanwhile, Banco Vision has approximately 70 branches throughout the country and is one of the most recognized financial institutions among Paraguayans.

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Moneystar Appoints Citi Prepaid Services

Citigroup, through its Global Transaction Services unit, signed an agreement with Moneystar, which has subsequently started disbursing micro loans to eligible loan applicants using Citi’s Visa Prepaid Card. Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.

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ReportsnReports Adds ATM Machine Market 2010-2014

TechNavio’s analysts forecast the Brazil ATM market to grow at a CAGR of 16 percent over the period of 2010-2014 thanks in great part to rapidly growing spending capacity. The ATM market has also been witnessing an increase in the preference for refurbished ATMs over newer ATMs, a market dominated by Diebold Inc., NCR Corp., Itautec, and Wincor-Nixdorf. The report focuses on the Brazilian market and covers only the market for ATM machines, excluding the market for solutions, services, and support for ATMs in Brazil.

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GuestLogix Renews PA-DSS Certification

GuestLogix has renewed its Payment Application – Data Security Standards (PA-DSS) compliance certification as part of the company’s investment to provide robust and secure payment processing to its customers. This lets GuestLogix offer payment solutions backed by current certifications that specifically apply to vendors and payment application developers. GuestLogix’ payment processes are validated to ensure consumers’ personal information stays protected from outside sources. Using an approved process to prevent security threats, PCI DSS-approved environments better protect credit card data, including card codes and values (CVC2, CVV2, CAV2, CID), PINs, and stripe data.

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HSBC customers can now donate through ATMs

HSBC and first direct customers can now donate vital funds to the Disasters Emergency Appeal DEC East Africa Crisis Appeal via their 3789 ATM machines nationwide. This brings the number of charities benefitting from this service through the bank’s ATM’s to seven. Last year over GBP341,623 was donated through the HSBC’s machines including GBP121,950 to the DEC Haiti appeal. This year GBP68,539 was donated to the British Red Cross Japan Tsunami Appeal alone. Gift Aid is an easy way for charities to increase the value of gifts of money from UK taxpayers by claiming back the basic rate tax paid by the donor. It costs the donor nothing, but as long as they are a tax payer, they could effectively increase the total amount they are donating to their charity of choice.

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NCR Posts 2Q/11 Revenue Up 12% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NCR Corporation posted a revenue of $1.31 billion for 2Q/11, up 12% from the year ago quarter, with the Financial Services segment generated second-quarter revenue of $729 million, an increase of 15% from the second quarter of 2010. Operating income for Financial Services was $77 million, compared to $75 million in…

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Court Rules in Favor of Visa, MasterCard in “Anti-Steering” Settlement

A federal judge Wednesday in New York approved a settlement between the Justice Department and MasterCard and Visa involving allegations the networks were prohibiting merchants from “steering” consumers toward use of lower-cost payment instruments. These allegedly included having barred discussion with costumers of card transaction fees for merchant. Court papers documenting the settlement process with the U.S. government and 17 states show neither Visa nor MasterCard confirmed or refuted the allegations.

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Card Activation to Pursue Appeal on Delaware Court Ruling

Card Activation Technologies In the action pending in the United States District Court for the District of Delaware (the “Delaware Action”), the Court recently ruled that the ‘859 Patent owned by Card Activation Technologies is invalid. Card Activation disagrees with this and is to continue the process of determining the issues for appeal. The Court’s Order did indeed invalidate claims of the ‘859 Patent based upon a Section 112 defense first raised by the Court. The opinion neither cites the Third Circuit Court of Appeals’ prior contrary position nor does it distinguish that opinion. We believe this to be one of several errors in the Order. The costs of appeal, as well as the cost of maintaining an ongoing entity, are estimated to reach $750,000.00 over the next two years, weighing on the Company’s finances.

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Flagstar & Elan Forge Card-Issuing Partnership

Elan Financial Services credit card issuer & Flagstar Bancorp now offer its customers the Flagstar Bank-branded credit card program. With this, Flagstar Bank cardholders will benefit from a variety of credit card products with a full one percent cash back feature, merchandise, gift certificates or travel rewards. Special features will also be available for small business cardholders, including rewards for every dollar spent and tools to track and manage their expenses. Elan Financial Services, a full-service credit card issuer, is dedicated to serving financial institutions with best-in-class credit card products and rewards that meet the unique needs of every customer.

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BankAtlantic Launches m-Banking App on Android

In partnership with Intuit Financial Services, BankAtlantic deployed its latest Mobile Banking Application for Android platform phones. Following the recent success of BankAtlantic’s iPhone application launch, BankAtlantic is excited to announce its cutting-edge Mobile Banking platform for Android phones will soon be available. The latest Application will allow Android phone customers to view account balances; recent transactions and transaction history; transfer funds between accounts; and get GPS guidance to locate the BankAtlantic branch or ATM location nearest you. Mobile Banking just got a whole lot easier for Android phone users with BankAtlantic’s Android App – just a snapshot of the total convenience our customers experience.

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