RAK Airways Partners with Al Fardan Exchange

RAK Airways has partnered with Al Fardan Exchange global remittance to offer a convenient option to pay for their airline tickets. RAK Airways passengers can pay for tickets booked through the airline’s call centre at any Al Fardan Exchange branch across the emirates. After making a booking through RAK Airways call centre, customers will receive a reservation number. Upon presentation of the reservation number at any Al Fardan Exchange branch, the customer will be able to pay for the ticket and confirm their booking. Customers can also book tickets online at www.rakairways.com; through sales offices in Ras Al Khaimah, Dubai, Abu Dhabi, Sharjah, Ajman and Umm Al-Quwain as well as Calicut, Jeddah, Dhaka, Chittagong and Cairo; and through appointed travel agents.

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Point payment acquires TS3 Transaction

Point electronic payment solutions has acquired TS3 Services secure transaction solutions. TS3 provides of secure transaction solutions for electronic payment and other electronic transactions of value to a wide range of clients from multi-national card payment acquirers, retailers and payment network operators through to individual retail and mobile traders. The merger with Point will provide TS3 with the backing to enhance its existing development and investment capabilities. For Point, the acquisition further strengthens its market leading UK position and TS3’s solutions and expertise will complement those of its existing UK business, Commidea.

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Al Ansari Exchange & Federal Bank Streamline Remittances

Al Ansari Exchange network exchange house that provides worldwide remittance and foreign exchange services partnered with Federal Bank in India. Al Ansari Exchange is the UAE’s largest network exchange house that provides worldwide remittance and foreign exchange services. The company has more than 100 branches located across strategic locations in the UAE which provides key services like Foreign Exchange, Remittances, Bill Payments, Credit Card Encashment, Mobile Top-up, Investment & Saving Schemes, Payroll Solution and Corporate Cash Collection.

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Mobile Payments Market to Almost Triple in value by 2015

A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred. The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. Digital goods payments will account for nearly 40% of the market in 2015.

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AirPlus International Deploys Global Card Network

AirPlus International expense analysis and payment solutions partnered with Santander, BNP Paribas, UBS and Nordea to provide companies the optimal solution to worldwide travel cost management challenges with its “NextGen” system. Offering an all-in-one tool for professional business travel management that integrates the corporate cards, lodge cards and management information system (MIS) solutions, “NextGen” focuses on professional travel management globally. For users, it circumnavigates excessive locally provided tools that might fail to meet the needs of their modern global travel management.

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Bank of Georgia offers Serverside card customization

Bank of Georgia made available its ‘Love Card’ card customization service through the Serverside Group. Available across the bank’s debit and credit portfolios and costs GEL 15, ‘Love Card’ card customization is currently applicable to Visa Electron, Visa Classic, Cirrus Maestro and MasterCard cardholders. Being marketed through multiple channels, from adverts and editorial slots on the major TV stations, articles in the country’s leading magazines and newspapers, to web banners on Facebook and videos on YouTube, it allows cardholders to design their own images or choose an image from one of a number of galleries, including Nature, Dessert and Drinks, National Symbols, Sports and Animals.

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Ingenico Affiliate acquires BTG assets to Grow

Ingenico payment solutions’ easycash affiliate is expanding its footprint and acquiring parts of the assets from BTG ISO. With this, easycash purchases a terminal POS estate while a sales force joins the Group to deploy its one-stop-shop and bank agnostic offer. In addition to POS related services, the commercial bundle offer will also include Mastercard and Visa acquiring services from easycash to the merchant. With this, it enters a new market and debuts its know-how outside of Germany to its access to over 2,000 merchants in Belgium, allowing it to deploy the Ingenico “Telium” and NFC based terminals in a country where its presence was limited.

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99Bill signs eight major Chinese banks

99Bill independent third-party payment service provider signed strategic partnership agreements with eight major banks to facilitate secure and reliable payments transactions. 99Bill’s e-payment solutions is confirmed with the six of the seven business scopes approved by the PBOC, the most of any e-payment company in the industry and plans to use its unique advantages to work in conjunction with banking partners to develop innovative financial solutions for enterprise and business customers. 99Bill’s scope of cooperation with its eight strategic banking partners includes information management and security, payment and settlement, fund collection, card acquiring, as well as international payment and settlements.

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GlobalCollect Appoints New CTO

GlobalCollect announced the appointment of Peter Knight to the role of CTO, wherein he will coordinate with the Company’s Executive Council to develop a single-interface payment platform WebCollect and related technology solutions. Most recently CIO with ING Direct UK, Knight is an accomplished technology executive who previously held senior management positions at Capital One, Goldman Sachs, and the Financial Services Authority in the UK. He has extensive experience in leading large technology teams and a strong international business background having previously worked in the US, Asia, and Europe.

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NBPCA Concerned Over Interchange Loophole

While the Network Branded Prepaid Card Association (NBPCA) applauds the decisions of the Federal Reserve Board to adopt the new interchange fee cap, the Board also has issued a final debit interchange rule that will disqualify many general purpose prepaid cards and payroll cards from receiving an exemption from the new interchange rate. Under the new rule, effective October 1, 2011, a bank issuer may charge an interchange fee of 21 cents per transaction plus 1 cent for fraud prevention and an additional 5 basis points on the transaction amount to account for fraud losses. The Durbin amendment carved out an exemption from the lower interchange rate for prepaid debit cards and government benefit cards because millions of unbanked and underbanked consumers rely on these cards for basic needs. Ergo, any prepaid debit card issued by a bank with assets over $10 billion that allows cardholders to use the cards for services other than point-of-sale debit or ATM access such as check writing, bill pay, or electronic remittances would not qualify for the exemption.

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TCU Outsources ATM Service to Diebold

Teachers Credit Union (TCU) is set to implement Diebold technologies and services to enhance its operational efficiencies and improve member convenience, which will manage upgrades to its fleet of 85 “Opteva” ATMs. Upgrading the ATMs will consist of adding monitoring services to enhance security and ATM uptime and incorporating deposit automation technology to improve convenience. These measures are designed to improve the security and reliability of TCU’s self-service channel, especially with the added Diebold “Advisor” automated monitoring service, which alerts on detailed ATM status messages, such as paper jams and dispenser faults for subsequent remote fix or to dispatch repair service. TCU currently has 14 ATMs capable of deposit automation through Diebold, with more than 30 additional machines planned in the near future.

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