Paymate Adds M-Payments to Merchant Services

Paymate will add mobile payment and prepaid debit card services to its portfolio with the completion of its acquisition of ACT Merchant Services, which offers devices and infrastructure necessary to transact business utilizing smart phones and other mobile devices. Bill Elrick, President, ACT Merchant Services, will head Paymate’s efforts in expanding and enhancing the mobile payment services component of the Paymate product line.

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Datacard Group Expands Operations

Datacard Group secure ID and card personalization solutions appointed several new positions in order to meet the continued international growth and success the company has seen. Rajiv Singh has been appointed as the managing director for its South Asia operations out of the Mumbai office and will have the responsibility to grow the business in that region. Monica Lim has been named director, financial instant issuance, Asia Pacific, where she will be responsible for expanding the instant issuance market with major regional banks in the Asia Pacific region. Henry Chun, the regional director for Korea, will also be expanding his portfolio to include the ASEAN & Taiwan region to continue to manage the Korea market as well as focus on further growing and developing the ASEAN & Taiwan regions.

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ICICI Prudential MF launches Visa debit card payment service

ICICI Prudential Mutual Fund has launched Visa debit card transactions facility for its investors, offering accessibility to investors by facilitating mutual fund purchase on their website through Visa debit cards. ICICI Prudential Mutual Fund plans to introduce Visa PoS terminals in seven cities to offer investors the convenience of purchasing mutual fund schemes by swiping their Visa Debit card, the release said.

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ActivePath Drives Paperless Adoption for Top Card Issuer

ActivePath 2Way Email Banking Systems that enable banking customers to securely communicate and conduct alert-driven financial transactions via email announced that one of the world’s top card issuers has implemented an ActivePath solution in Brazil to deliver monthly card statements via email. In the first ten months since deploying the ActivePath solution, the card issuer has realized an immediate return on its investment and reports that more than 20% of its customer base has opted in to paperless delivery of monthly statements and customer communications sent securely via email through ActivePath’s system.

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Deutsche Telekom Deploys G&D as SIM Card Development Partner

Giesecke & Devrient (G&D) was commissioned by Deutsche Telekom AG to develop a new SIM card solution for mobile phones with contactless NFC technology for its future networks. Using a universal SIM card, the SIM card will also meet Deutsche Telekom’s global integration requirements. Deutsche Telekom intends to offer novel NFC services based on this SIM card solution in various countries in future. By using the latest card technologies, G&D is ensuring that services can be integrated securely both into mobile network operators’ system infrastructure and into the networks of participating payment systems. The SIM card’s security functions make use of the latest cryptographic methods.

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Dutch-Bangla Bank Selects Sybase 365 m-Banking

Sybase 365 mobile messaging and mobile commerce services has been selected by Dutch-Bangla Bank Limited (DBBL) for its mobile banking platform. The Sybase 365 mBanking platform allows DBBL to reach the rural and unbanked in the Country, of which 45% are mobile phone users. With capabilities to conduct local and international money remittance, expatriates will also be able to remit money to the mobile accounts of their families, who can then make a withdrawal at the nearest retailer or cash point. The service will be available on all mobile devices with subscription to any of the six mobile operators of Bangladesh. As mobile banking continues to progress in Bangladesh, DBBL with Sybase 365 will roll out the next phase of services allowing customers to conduct mobile airtime top-up, merchant payment and micro financing from their mobile device.

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Payfirma Issues Company Profile

Payfirma credit, debit and loyalty card processor for businesses of all sizes and industries now offers its iPhone virtual credit card POS terminal in use with card swiper. Payfirma develops integrated and mobile POS solutions such as the iPhone & iPad Virtual Credit Card Terminal, enabling any consumer or business to instantly accept credit and debit payments on their iPhone or iPad. The Company is a private finance organization led by Michael Gokturk as CEO and Sunan Spriggs its COO.

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SmartSoft, Turkcell and Plastkart Launch m-NFC

SmartSoft, Turkcell and Plastkart introduced its MNO (Mobile Network Operator) Trusted Service Manager (TSM) mobile solution for NFC Payments. Approved by MasterCard, the MNO will help accelerate interest and deployment of NFC payment systems in Europe and the Americas, regions in which SmartSoft continues to strengthen its product and technology development and sales and marketing channels. This makes Turkcell the first top mobile operator to successfully launch and commercialize an approved TSM solution by MasterCard. It ensures a secure, fast way to shop using their mobile phones.

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Check Point signs Zhejiang Zhongda Brokerage

Check Point announced Zhejiang Zhongda Futures Brokerage deployed “Check Point Abra” secure virtual workspace to provide its mobile workforce remote access to their corporate desktops anytime, anywhere. With 800 employees across 16 different branch offices in China and a growing mobile workforce, Zhongda required a robust data security and business continuity plan that would enable employees and maintain customer confidence. As a financial institution recognized by the China Securities Regulatory Commission, Zhongda also needed to remain compliant, adhering to strict guidelines for information security, privacy and remote access.

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Discover Posts Astounding Quarterly Net Income of $600mm

Discover posted 2Q/11 net income of $600 million, compared to $258 million the year ago quarter. This was thanks in part to card sales volume experiencing year-over-year growth of 9% with $25 billion in volume in the quarter; total loans having increased 5% from the prior year to $52.5 billion, while credit card loans declined 1%; credit card loan balances having grown $644 million, or 1% from the prior quarter; and the delinquency rate for credit card loans over 30 days past due having reached a 25-year record low of 2.79% and the credit card net charge-off rate declined to 5.01%. Meanwhile, Payment Services saw pretax income of $43 million, up 19% from the prior year, and transaction volume for the segment was $46 billion in the quarter, up 24% from the prior year.

Net interest income increased $46 million from the prior year due in part to increased loan balances related to the student loan acquisition and lower funding related costs while delinquency rate on credit card loans over 30 days past due reached an all-time low of 2.79%. The credit card net charge-off rate decreased to 5.01% for the second quarter of 2011, down 355 basis points from the prior year and 95 basis points from the prior quarter and the provision for loan losses of $176 million decreased $548 million by 76% year-over-year thanks to lower charge-offs. Principal charge-offs decreased $424 million from the prior year. Payment Services dollar volume was a record $45.9 billion for the second quarter, up 24% from the prior year, driven by higher PULSE issuer volume, which experienced transactions up 25%.

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Serverside Alleges patent infringement on 15 parties

Serverside Group commenced a patent infringement suit in United States District Court for the District of Delaware, alleging 15 parties are infringing on its patent right to financial transaction card customization technology. Defendant parties include CPI Card Group, PSCU Financial Services, Inc., The Members Group Inc., Eastern Bank, Dimpledough Inc., JHA Payment Processing Solutions Inc., T8 Webware, Bank Iowa, Anheuser-Busch Employees’ Credit Union, American State Bank, United Solutions Company Inc., Design One Creative, LLC., Neighbors Credit Union and Credit Union 1. The U.S. Patent and Trademark Office (“USPTO”) issued the ‘199 and ‘490 patents to Serverside in April and May 2011, concerning its core card customization technology.

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Global Bay-Guess 2011 Retail TouchPoints Award Winner

Global Bay Mobile Technologies mobile retail software mobile Point of Sale deployment on Apple iPod touch with Guess has been recognized by Retail TouchPoints as the 2011 Channel Innovation Award Winner in the In-Store category. Retail TouchPoints announced the winners of the 2011 Channel Innovation Awards during the Customer LifeCycle Conference. This was based on its sales gains within emerging channels; convenience of shopping options; cross-channel marketing; customer recognition across channels; and integration of systems with promotion, order management and sales history.

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