First Data Comments on Fed Debit Rules

First Data is now reviewing and analyzing the final rules published by the Federal Reserve Board regarding debit card interchange, network exclusivity and routing under Section 1075 (“Durbin Amendment”) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Disclosing the “…company has always advocated for increased competition in the payments marketplace,” the acquirer over the last year has invested in new programs and technology on behalf of financial institutions and merchant customers in the United States to comply with the changes resulting from the new regulations. These include reinvesting in the STAR Network; routing programs to negotiate effectively with other payment networks; and NFC technology for use at the POS.

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ABA Comments on FED debit RULE

The American Bankers Association disclosed its take on the Federal Reserve having taken a significant step in reducing the ‘harm that could have resulted from the proposed rule.’ In a statement, the ABA went on to “commend the Board for recognizing that there are a whole range of costs for which banks should receive reimbursement, including fraud losses, network fees, certain fixed costs and fraud prevention costs. We likewise commend the Board for delaying the effective dates for compliance with this complex rule. It is clear that the Board benefited from the input of bankers, policymakers and other commentators…. and it “will continue to aggressively advocate for remedies that will mitigate any harm caused by this regulatory action.”

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IronKey Trusted Access for Banking Meets FFIEC Guidelines

IronKey’s Trusted Access for Banking secure browsing solution meets the new online banking security guidelines from the Federal Financial Institutions Examination Council (FFIEC), the company announced. The FFIEC member agencies have directed examiners to formally assess financial institutions under the authentication supplement beginning in January 2012. The IronKey Trusted Access for Banking approach delivers the capabilities bank examiners will now look for, requires no changes to bank systems, and stops hackers where they are attacking— at the online banking customer’s PC — even if it is infected with the worst possible crimeware such as ZeuS, SpyEye, Sunspot, and OddJob. IronKey Trusted Access for Banking is an intelligent security software and Internet security service that is also easy to use.

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Apigee Launches PCI-Compliant API Management

Apigee API products and services announced Apigee Enterprise Cloud PCI, a new offering that enables organizations to deliver powerful transactional application programming interfaces (APIs) that can be quickly and securely deployed on a public cloud. Apigee Enterprise Cloud PCI is the only cloud-based API management tool on the market that supports full compliance with the PCI-DSS. With Apigee, businesses can, for the first time, easily tap the vast, affordable compute resources of “the cloud” to support their transactional API traffic with the confidence that all sensitive customer data remains protected. Apigee provides an enterprise API management platform to help companies of all sizes open their data and services via APIs and fuel their mobile, multi-channel and innovation strategies. The new Apigee Enterprise Cloud PCI solution is deployed in PCI-compliant data centers, where cardholder information is protected according to PCI DSS.

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Monster Offers, ZalaPayDaily & Deal Media Sponsor Conference

Monster Offers mobile banking solutions company and Daily Deal aggregator in conjunction with ZalaPay announced their Gold and Platinum sponsorships of the Daily Deal Media Conference. ZalaPay provides financial products designed to address unmet needs in the Daily Deal industry. The Daily Deal Media Conference is a two-day industry conference featuring the leading experts in Social Commerce and hundreds of companies involved in the Daily Deal industry.

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Dollar Financial Opens 400th Company Store

Dollar Financial international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, through its subsidiary, The Money Shop, opened its 400th company-operated store. Th tore will offer short-term loans, secured pawn loans, check cashing, gold purchase, Western Union money transfer, foreign exchange, debit cards, and other financial products.

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Diners Club and Russian Standard Meld New Franchise

Diners Club International of Discover Financial and Russian Standard Bank (RSB) forged agreements to form a new Diners Club International franchise in Russia, for which RSB will assume all issuing and acquiring responsibility of the Diners Club brand and business in Russia and Ukraine. Diners Club International is accepted in more than 185 countries and territories, millions of merchant locations and provides access to over 800,000 ATMs. The company offers best-in-class features and benefits and a network of unique customer and merchant services.

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CHINA UNIONPAY AND MASTERCARD Ink Payment GATEWAY AGREEMENT

China UnionPay (UnionPay) and MasterCard Worldwide recently signed a Payment Gateway Service Agreement, allowing MasterCard e-commerce platform to accept UnionPay Cards. Both UnionPay and MasterCard will cooperate to configure their respective systems to equip the MasterCard Payment Gateway with the ability to process transactions made using UnionPay Cards for e-commerce merchants outside of mainland China. UnionPay and MasterCard announced that both parties also signed an Addendum to extend the term of their existing Memorandum of Understanding (MOU) for the establishment of a mutually beneficial relationship to explore future business development. The Addendum and Payment Gateway Service Agreement reinforces UnionPay and MasterCard’s cooperation to provide more efficient and value-added services for cardholders.

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Societe Generale globalizes transfer agency

Societe Generale Securities Services (SGSS) now provides clients with a single platform Transfer Agency solution for investment funds domiciled in Luxembourg or Ireland. This single platform is the latest phase in the development of SGSS’ global Fund Distribution Services offering, providing asset managers with a simpler reporting and follow up with funds domiciled both in Luxembourg and Ireland, where domiciled UCITS funds amount to EUR 2 640 billions and accounted for over 43% of the European UCITS industry total net assets (source EFAMA, 31/12/2010). The platform combines the traditional UCITS strength of the Luxembourg platform with SGSS’ hedge fund specialization in Ireland, providing a powerful service platform for a broad spectrum of funds from alternative funds and alternative UCITS to traditional UCITS products.

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telco Telia Deploys Accumulate m-payments

Accumulate’s mobile security platform “Mobile Everywhere” (ME) is used for securing all mobile transactions and for the enabling of mobile services as a integrated part of the PayEx mobile payment solutions and its Telia branded mobile payment service. With this, the “SMS Premium” solution provided by Accumulate allows payments for ticketing, music and purchase of goods in vending machines and person-to-person money transfer. It can allow more payment options and other mobile services, and this without having the end user to re-download, re-install and reactivate their mobile application. It gives users access to mobile payments; mobile banking; ticketing, coupons, loyalty and membership points; and online card transactions.

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Reserve Bank of Australia Initiates Payment Innovation Consultation

The Reserve Bank of Australia is launching the formal consultation phase of its Strategic Review of Innovation in the Payments System to identify areas in which innovation in the Australian payments system may be improved through more effective co-operation between stakeholders and regulators. It is taking a medium-term perspective, looking at trends and developments overseas in payment systems and at possible gaps in the Australian payments system that might need to be filled through innovation over the next five to ten years. The Bank has since been gathering preliminary input through informal discussions with a wide range of interested parties, conducted a survey of consumer payment patterns and is participating in an international study of retail payments innovation being undertaken by the Bank for International Settlements.

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