American Express and foursquare Debut Partnership

American Express and foursquare officially partnered, allowing American Express Cardmembers who link their foursquare profiles to their cards to “load” and seamlessly redeem merchant Specials without the need for coupons, special codes, or showing their mobile devices to cashiers. Powered by the American Express Smart Offer APIs, is the first time this technology has been used to allow cardmembers nationwide to take advantage of merchant Specials offered through foursquare in this easy and straightforward way. Cardmembers just visit the secure registration page on the American Express website, link their card to their foursquare profile in order to discover exclusive American Express Specials at foursquare venues, check in to the selected merchant and simply “load” the special to their card. The American Express closed-loop network, which allows the company to directly connect merchants and cardmember spend, lets merchants measure the success of their location-based marketing efforts.

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ABA Joins Push for REASONABLE CREDIT REQUIREMENTS

The American Bankers Association released a statement to the Senate on its position regarding consumer lending. In it, it referenced “The Dodd-Frank Act required regulators to establish a QRM category of loans that would be exempt from risk retention requirements once they are determined to be well-underwritten, low-risk, and high-quality. Unfortunately, the proposal set forth goes far beyond what Congress intended, mandating a minimum 20 percent down payment and severely narrow credit history requirements, restrictions that will shut the door to home ownership for many otherwise qualified buyers. ABA supports sound underwriting and responsible lending practices, and our members work diligently to make responsible credit available to qualified borrowers on fair and reasonable terms. The proposed QRM goes too far in restricting credit, which will harm borrowers and the nation’s fledgling economic recovery.”

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SmartMetric vs Visa & MasterCard Patent Infringement Case

SmartMetric will now pursue its infringers of its Patent based on the recent court ruling on definitions handed down one month ago in the United States District Court. Wells Fargo Bank, J P Morgan Chase Bank, US Bank and Silicon Valley Bank have all announced within the past months the issuance of EMV standard “contact” chip Banking Cards. SmartMetric alleges some of the largest Banks along with Visa are directly infringing the SmartMetric Patent that is already subject to Patent Infringement litigation against Visa and MasterCard. SmartMetric has decided to appeal this one definition interpretation in order for it to move forward with its claims of infringement regarding contactless chip cards, but says the rulings of the court on the other disputed definitions leave no doubt that the newly issued “contact” chip cards by some of the biggest Banks in the United States clearly fall within the definitions of its Patent and the company will pursue all infringements by all parties including Visa and MasterCard.

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USA Technologies to Join Russell Microcap Index

USA Technologies wireless, cashless transactions, associated financial/network services and energy management, is set to join the Russell Microcap Index when Russell Investments reconstitutes its family of U.S. indexes on June 24, 2011. Membership in the Russell Microcap Index remains in place for one year and measures the performance of the microcap segment of the U.S. Equity Market. Russell determines membership for its U.S. equity indexes by objective rules, such as market-capitalization rankings.

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Bluepoint Solutions, Corporate One to Host Webinar

Bluepoint Solutions chief marketing officer and CEO, in conjunction with Corporate One Federal Credit Union senior vice president, is set to host an informational presentation. The webinar will cover how current “IMAGEin” branch capture solution users can continue to leverage industry-leading software support, check processing and clearing services with no disruption to operations or member service. Bluepoint delivers proven technology solutions and consulting services designed to achieve the strategic goals of increased employee productivity, reduced operating costs, and improved customer service. Bluepoint’s family of products and services offer a complete, end-to-end, image-based item capture and payment processing solution.

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Isis Primed to Introduce m-Commerce

Isis mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, announced Austin, Texas is among the initial launch markets for the Isis mobile commerce program. Austin merchants and consumers are expected to be among the first in the U.S. to adopt a comprehensive mobile commerce experience in 2012. Starting in the first half of 2012, Austin consumers will be able to use Isis-enabled mobile phones to make POS purchases and redeem offers at participating merchant locations throughout the city.

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First Data Signs New Agency of Record

First Data signed agreements designating SapientNitro its new agency of record. To handle corporate identity and through-the-line advertising for Atlanta-based First Data, including creative, media, and strategy, as part of this new relationship, SapientNitro has been working to develop and relaunch its corporate brand identity. This includes its “Beyond the Transaction” tagline and “Beyond” symbol: a strategic platform from which differentiating, iconic, globally relevant, and flexible creative executions could be derived. Based on the “Beyond” platform, SapientNitro will be rolling out new campaigns for First Data.

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Kiwibank Deploys ACI Fraud Protection

Kiwibank Limited has implemented the ACI “Proactive Risk Manager for Enterprise Risk” to deliver fraud prevention and detection, protecting its 700,000 customers from card fraud. The anti-card fraud solution that can be implemented quickly and can deliver fraud prevention and detection in the future. The “Proactive Risk Manager” gives the bank ability to provide effective fraud prevention and in a matter of months after implementation delivered the savings that had been predicted throughout the first year.

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Intesa Sanpaolo Deploys Gemalto Contactless Card

Intesa Sanpaolo is deploying a Gemalto contactless prepaid card specifically designed for tourists taking part in the celebrations for the 150th anniversary of Italy’s unification this year. The bank is issuing the cards through its service center Setefi. The “Carta Esperienza Italia 150” allows users to enjoy the speed and convenience of contactless payments in shops, as well as the security of EMV for conventional payments and online purchases. Visitors can easily travel in the city area, by loading dedicated offers from the Turin transport company (“Gruppo Torinese Trasporti”) onto their card. They can purchase the card at Intesa Sanpaolo branches, at Gruppo Torinese Trasporti outlets in Turin, as well as in touristic places (such as “Officine Grandi Riparazioni di Torino” and “Reggia della Venaria Reale”).

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Alpine Card Service Starts JCB Merchant Acquiring

Alpine Card Service (ACS) and JCB International (JCBI) global payment brand have partnered on an acquiring license. With this, ACS will provide acquiring services to 1,900 merchants and 800 ATMs operated by SmartChoice Technologies while JCB cards will be phased in with these merchants and ATMs starting this fall. The partnership will also increase convenience to the 69 million JCB cardmembers traveling to Nepal.

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U.S. Bank Facilitates Auto-Payment for Business Customers

U.S. Bank launched its Payment Plus tool, replacing traditional payment methods with cardless accounts that use dynamic credit adjustment, single use accounts or straight-through processing to pay vendor invoices. Operated on the Visa network, Payment Plus enhances payment efficiency by accommodating many transactions that have not been able to be put on purchasing cards, including transactions that need to be tracked against vendor contracts. Payment Plus requires little or no investment in technology infrastructure by the buyer. An organization’s payment processes can stay essentially the same, but instead of cutting a cheque, they send an electronic payment file to U.S. Bank, which then automates the payment and reconciliation process.

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Visa and Federal Bank Launch Near Real-Time International Remittance

Visa signed agreements with Federal Bank allowing its Visa Debit cardholders to receive international remittances almost instantly. Federal Bank is the first bank in India to activate this solution with Visa. It will allow recipients to receive funds in near real-time, deposited directly onto cardholders’ Visa cards. This comes as a result of a major enhancement to the Visa network that enables Visa card accounts to receive funds in near real-time. The enhancement is expected to prompt a new generation of personal payment services on Visa cards – including mobile and cross-border remittances, electronic bill pay, and prepaid reloads. This allows Indians working in the UAE to visit any one of more than 90 branches of UAE Exchange, the leading exchange house in the UAE, where they simply use the Visa card payment service by providing the recipient’s Visa card number to initiate the funds transfer.

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