Billing Revolution raises $6.6mm for M-payments solution

Billing Revolution frictionless mobile payments has been vested $6.6 million in Series B funding, led by global venture capital firm, DCM and SK Telecom Ventures. This will allow mobile users to purchase digital and physical items across all mobile operating systems with a single click, solving an important pain point and adding ease of use for consumers in mobile payments. The PCI compliant platform is in use today and was built by an experienced team that comes from Microsoft, AT&T, T-Mobile, and Nokia to serve the growing demand for Billing Revolution’s Single-Click Checkout.

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WRG updates credit union m-banking

Wescom Resources Group (WRG) technology solutions for credit unions launched its “MemberEdge Mobile Banking 2.0” edition to its suite of mobile applications for credit unions. The “MemberEdge Mobile Banking 2.0” solution expands on the rich feature set of WRG’s Mobile 1.x, adding significant new features, deployed initially on Apple’s iOS operating system. Features include support for integration to a credit union’s social media channels. In addition, the Mobile 2.0 release natively supports Apple’s iPad – taking advantage of the larger screen to provide a more fluid, dynamic navigational flow.

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IronKey Continues Growth in 1Q/11

IronKey data and online access security continued its strong sales, customer, and partner growth leading to a record breaking quarter for the company. During the first quarter of 2011, overall product bookings increased 90% compared to the same period last year. The number of banks using Trusted Access for Banking doubled from the fourth quarter as Gartner reported that crimeware on clients’ computers is now the most alarming threat to online banking executives in the U.S. And to advance IronKey’s strategy of strong growth and address more customers, IronKey added Arrow Electronic in North America and Cohort Technology and Wick Hill Germany in Europe as value added distributors. The first quarter also saw industry veteran Arthur Wong join IronKey as CEO, while Dave Jevans took on the role as IronKey’s chairman of the board of directors.

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TSYS to Host Analyst Presentation in New York

TSYS announced its chairman and chief executive officer and other executives will discuss the company’s operations and business strategy at the upcoming TSYS Analyst Day on May 26 at the Mandarin Oriental New York. TSYS digital commerce connects consumers, merchants, financial institutions, businesses and governments. The Company creates a better experience for buyers and sellers, supporting cross-border payments in more than 85 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.

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Paymetric introduces Data Intercept for SAP customers

Paymetric integrated and secure enterprise payment acceptance solutions has released “Data Intercept for SAP,” leveraging the Company’s “XiSecure On-Demand” tokenization to captures card number from the SAP landscape. The card number is tokenized and the token is returned to SAP where the original payment card field is populated and can be used for authorization. The user experience is seamless, normal workflow can be resumed and day-to-day business activities can be completed using these secure tokens. Data Intercept completely eliminates sensitive cardholder data from being typed directly in a SAP landscape, placing the system in a position to be removed from the scope of PCI DSS.

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Mechanics Bank selects VSoft for check fraud prevention

Mechanics Bank selected VSoft Corporation process improvement solutions for financial institutions to provide fraud prevention. With this, VSoft will deliver the product through its strategic partner, Advanced Software Design Corporation (ASD), which specializes in the design, development and marketing of innovative fraud prevention solutions. Mechanics Bank selected VSoft to deliver a risk mitigation solution to provide Mechanics Bank with a complete positive pay platform, including payee, traditional, reverse and ACH positive pay solutions. The solution enables Mechanics Bank to increase fee income while enhancing customer satisfaction through improved security measures.

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Thales awarded Best Secure Transaction Solution

Thales information systems and communications security announced its “payShield 9000 Hardware Security Module” (HSM) has won SC Magazine’s award for Best Secure Transaction Solution. The magazine’s annual awards for the European information security industry recognise those vendors at the forefront of innovative security technology delivery. The recognition came thanks to its cryptographic performance and resiliency, designed specifically to secure card payment systems. The ‘next generation’ HSM for payment security systems is a high-performance tamper-resistant security platform that protects cryptographic keys and other sensitive information such as customer PINs and cardholder data.

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Kreissparkasse Köln to Outsource ATMs to Wincor Nixdorf

Kreissparkasse Köln will be taking delivery of new ATMs, cash recycling systems and account statement printers from Wincor Nixdorf, and plans to install primarily devices from the new CINEO system generation. The operation of the systems will be outsourced to Wincor Nixdorf’s subsidiary Prosystems IT,which has been responsible for decentral operation of the bank’s information technology since 2004. The installation of 80 automated teller machines, four cash recycling systems, 70 automated teller safes with recycling functionality and ten account statement printers will begin in mid 2011 and continue successively through 2013. All the systems will be integrated in Kreissparkasse Köln’s self-service network.

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FIS to Process Woolworths Prepaid Cards

Woolworths has selected FIS banking and payments technology as its premier provider for prepaid card processing for card acquisition and transaction processing services. Woolworths’ desire to deliver innovative new products quickly and cost effectively was a key factor in its choice to team with FIS for prepaid card processing. The FIS Card Processing Services platform, which supports both consumer and commercial accounts, currently processes more than 250,000 prepaid cards for Woolworths. With real-time access to payment information and the ability to customize the system, FIS provides Woolworths with the resources to provide better service to its customers. A recognized leader in the prepaid industry, FIS processes 180 million prepaid cards annually. FIS supports prepaid cards in 34 countries and 16 currencies, accounting for 775 million transactions annually.

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MBNA introduces contactless Amex cards

MBNA announced that the first American Express-branded, contactless credit cards in the UK will be issued for use by MBNA’s customers. This is part of a phased initiative by MBNA to issue contactless-enabled cards for new and replacement credit cards for all of its UK customers. Millions of cards will be in the hands of MBNA’s UK customers by the end of 2012. Customers with American Express-branded cards issued by MBNA do not need to do anything as their new or replacement cards will be automatically converted to EMV-enabled contactless credit cards when they are re-issued or replaced. To use their new contactless cards, customers simply touch the card at payment terminals that display the contactless symbol and American Express logo without the need to enter their PIN.

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Diebold to install 1700 ATMs for State Bank of India

The State Bank of India (SBI) has signed an agreement with Diebold for its ATM expansion project for State Bank Group (SBG). With this, Diebold will deploy approximately 1,000 cash dispensers (CDs), more than 600 full-function lobby ATMs and approximately 60 cash recyclers. After this expansion is complete, SBG’s total ATM network will grow to more than 28,000 terminals. This is part of SBG’s plan to support its strategic self-service expansion plan and serve its widespread customer base across India with a significant number of deployments planned in metro, urban, semi-urban, rural and remote areas including Northeast India. The ATMs and CDs are touch screen along with function keys for higher availability of the machines; have voice guidance support and Braille enablement to support the visually challenged; use ard reader with enhanced security features; and an advanced dispenser with a special feature that helps in reducing jams and errors enabling better uptime.

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April Unemployment Edges Upward, COFs Drop Below 8%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While the seasonally adjusted unemployment rate in April was up for the first time since November to 9.0% for a difference of 244,000 jobs since March, the credit card chargeoff rate dropped .43% to 7.88% of outstanding credit card volume. With the number of unemployed persons totaling 13.7 million, credit card…

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