GearGost Partners Host Merchant to Process Cards Securely

GearHost has announced a new partnership agreement with credit card processing firm Host Merchant Services. The new partnership will allow GearHost to provide credit card payment processing services to its customers at ultra-competitive rates and to take advantage of Host Merchant Service’s industry leading customer service. Gear Host has now brought cloud hosting solutions to the masses, at a price that any business can afford. Gear Host cloud hosting is currently the most affordable and most powerful Windows cloud solution on the market. Merchant Services has partnered with a fast growing number of high profile web hosting companies to provide the ability to accept credit cards, affordably, securely, and reliably and the design of payment processing solutions which seamlessly improve profitability.

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MasterCard to Participate in the J.P. Morgan Conference

The president and chief executive officer for MasterCard Incorporated is set to participate in the J.P. Morgan Global Technology, Media and Telecom Conference in Boston on May 17. For this, a listen-only live audio webcast will be accessible through the Investor Relations section of the MasterCard website at www.mastercard.com. An audio replay of the session will also be available for 30 days at the same website location.

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Pivotal Payments Expands Merchant Payment Processing

Pivotal Payments merchant services has officially penetrated the United Kingdom as a payment processing provider. A first as Pivotal Payments’ foray outside of North America, this development is integral to Pivotal Payments’ strategy to enhance its global presence as a merchant services provider. Pivotal Payments has already added over 300 UK merchants to their portfolio since March and is confident of achieving rapid growth in 2011 by providing a comprehensive suite of business solutions such as merchant accounts, debit and credit card processing, point-of-sale hardware and e-commerce services.

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Sinnad Inks connectivity Agreement with Tawasul Telecom

Sinnad third party card processing and ATM services and solutions provider has signed a network telecommunication services agreement with Tawasul Telecom, a regional MPLS services provider in the GCC. Sinnad is a Joint Venture company between Benefit and Network International – the region’s leading card payment solutions provider. Meanwhile, Tawasul Telecom provisioned IP based services across multiple borders in the Middle East Region.

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CredoRax Attending 2011 Internet World Expo

Credorax will present its integrated E-Commerce credit card Acquiring and Payment Processing solutions at the Internet World 2011 Expo in Earls Court in London on May 10. Internet sales make up over GBP100 billion of the UK economy, and credit processing is key to any online business. Credorax offers multi-currency, vertically integrated credit card Acquiring services along with a user-friendly and feature-rich Payment Gateway. CredoRax delivers supreme security with the use of world-class data centers, data encryption, PCI compliance, 3-D security, and a state-of-the-art fraud protection suite. In addition, CredoRax provides real-time reporting with interactive dashboards & mobile capabilities.

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Visa Posts 1Q/11 (FSL 2Q) of $881mm

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s fiscal second quarter 2011 ended March 31, 2011 saw a net income of $881 million and a net operating revenue $2.2 billion for a 15% increase since the year ago period. This was driven by strong double-digit growth in service revenues, data processing revenues and international transaction revenues. Payments volume…

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Visa Posts 1Q/11 (FSL 2Q) of $881mm

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa’s fiscal second quarter 2011 ended March 31, 2011 saw a net income of $881 million and a net operating revenue $2.2 billion for a 15% increase since the year ago period. This was driven by strong double-digit growth in service revenues, data processing revenues and international transaction revenues. Payments volume…

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First Annapolis Merchant Acquiring Appoints Principle

Scott Calliham has joined First Annapolis Consulting Merchant Acquiring as a Principal, bringing with him 15 years’ experience in payments. Most recently with Bank of America for the last seven years, Scott held various positions in both Payments and Strategy and Merchant Services. In Payments and Strategy, he was responsible for several projects focused on payments related initiatives across Bank of America’s Debit, Issuing, and Acquiring businesses. Additionally, Scott spent the last five years in Merchant Services at Bank of America holding multiple roles, including leading Corporate Strategy, Pricing and Portfolio Management, and Product Development and Support. Most recently, Scott was Executive Vice President of Bank of America Merchant Services with responsibility for Emerging Payments and Strategy. Scott was also employed with First Annapolis before Bank of America for the previous seven years. He holds a Bachelor’s Degree from San Jose State University and earned his MBA at Carnegie Mellon University.

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U.S. Bank Lands Amtrak Card Services

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bank has been awarded a contract by Amtrak to provide the national passenger rail service with purchasing and travel card services under the GSA “SmartPay 2” program. The contract is the first awarded under the GSA SmartPay 2 program since the 2008 government-wide re-competition. In that re-competition, U.S. Bank increased…

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CashEdge Launches Quick Prepaid Service

CashEdge Intelligent Money Movement services expanded its “Popmoney” payments with the introduction of its “Popmoney for Prepaid” solution. Giving prepaid card users the ability to reload their cards online, and the ability to easily request money from, or send money to, other people via email or text, “Popmoney for Prepaid” is available to prepaid card issuers, processors and program managers. CashEdge initially announced agreements to integrate “Popmoney for Prepaid” with TxVia’s prepaid card processing platform. TxVia’s program manager and issuer clients will be able to offer their prepaid cardholders the ability to reload funds electronically onto an existing prepaid card using the Popmoney service.

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Fiserv & Natixis Global Launch overlay portfolio management

Investment Services from Fiserv has partnered with Managed Portfolio Advisors (MPA) to offer professional, outsourced overlay portfolio management services for its Unified Managed Account (UMA) programs to its sponsor clients. MPA is a division of Natixis Asset Management Advisors, L.P. and part of Natixis Global Associates (NGA) and can now benefit from the expertise and skills of MPA’s overlay management team while maintaining in-house, the industry-leading portfolio management and trading platform and related suite of Fiserv wealth management solutions.

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Small Business Increasingly Faced With Fraud

Higher rates of fraud confront small business owners (SMBOs) everyday, as they are an attractive target for fraudsters because they conduct a myriad of transactions that often span both business and personal accounts. As small businesses, they are vulnerable in areas that fraudsters can exploit, namely, the lack of a dedicated IT staff to monitor and protect online operations and less formalized processes around security practices and credit card transactions. This creates opportunities for security breaches and risks for inadvertently releasing personal data. Banks, merchants and other providers absorbed at least $5.43 billion of that loss, while the cost to victims was $2.61 billion. These findings, according to a Javelin Strategy & Research report, “2011 Small Business Owners (SMBO) Identity Fraud Report: How SMBO Fraud Rates Impact FI Revenues and Retention,” also show the average SMBO victim cost of fraud is more than double the consumer victim cost of $631.

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