Hypercom mTerminal Gets PCI PTS 2.1 Security Approval

Hypercom announced that its next generation “M5000” mobile payment terminal has achieved PCI PTS 2.1 certification. The M5000 is the next generation multipurpose mobile payment system whose futureproof features will protect the investments of a broad spectrum of merchants worldwide, ranging from hotels and restaurants to taxis and delivery companies. Building on innovations incorporated in its sought-after “L5000” multilane product family, Hypercom’s new “M5000″ in-hand mobile payment system has a 3.5” color icon-capable touch screen display that enables new ways to interact with the cardholder. It is also powered by a 266 MHz standard, 400 MHz optional processor, and includes up to 500MB of memory.

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MoneyGram & InComm Offer In-Lane Remittance

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MoneyGram International and InComm stored-value gift and prepaid cards forged agreements for the Moneygram “Xpress” in-lane money transfer service. With this, InComm will assist MoneyGram in the distribution and activation of MoneyGram “Xpress” packages throughout InComm’s network of more than 225,000 retail locations, including grocery and convenience stores, pharmacies, and mass…

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Tianjin Electric Implements VeriFone Payment Platform

The VeriFone “Vx 670” mobile payment system has been selected and deployed by China’s Tianjin Electric Power to facilitate residential on-site card payments of electricity bills. Tianjin Electric is a major contributor to the Beijing-Tianjin-Tangshan power grid in Northern China and supplies electricity to 11 million people in more than 4 million households. The “Vx 670” has GPRS to let collectors process bill payments with CUP credit cards at the door of residential customers. Residents in Tianjin can now pay for their electricity bills at home, using their credit cards issued by China UnionPay (CUP).

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Small Issuers Expect Significant Durbin Decline in Interchange Revenue

Small debit card issuers, including community banks and credit unions, on average expect a 73% decrease in debit interchange revenue as a result of pending interchange fee rules. While these issuers with less than $10 billion in assets are exempt from the regulations proposed by the Federal Reserve Board, they are critical of the interchange cap and skeptical that the exemption will be effective.This, according to the 2011 PULSE “Debit Issuer Study,” also shows 54% of regulated institutions and 27% of exempt issuers report they are evaluating additional fees or reducing benefits. Exempt issuers report they are considering reducing rates on high-yield checking accounts, eliminating ATM fee rebates and charging account holders for the service of having a checking account.

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MasterCard Names Group Head, Global P2P Payments

Marcie Verdin has been appointed MasterCard Worldwide group head for Global Person-to-Person (P2P) Payments. Bringing with her more than 20 years’ experience in product development, management and marketing, she will be responsible for implementing MasterCard’s global P2P strategy, including identifying new and innovative P2P payment and money transfer solutions. She joined MasterCard in 2005 and most recently served as group head, global commercial products. Prior to joining MasterCard, Marcie held positions with Galileo International, VeriSign, Visa, American Express and Accenture.

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Global DataGuard Named Finalist in Virtualization Category

Global DataGuard network behavior analysis-based (NBA) Unified Enterprise Security (UES) and Unified Enterprise Cloud Security (UECS) announced Network Products Guide has named the company’s “Cloud Guard” technology suite a finalist in the Virtualization category for the 6th Annual 2011 Hot Companies and Best Products awards. The “Cloud Guard” for private clouds is a customizable, self-contained unified security system that’s designed for customers implementing on-premise virtualization initiatives. It incorporates the company’s adaptive and predictive industrial-strength security portfolio – patented network behavior analysis and correlation technology; intrusion detection and prevention; vulnerability scanning and management; security and event log management, analysis and monitoring; network access and policy monitoring; prioritized threat management for network, global and vendor threats and vulnerabilities; and a unified service-enabled console – and delivers immediate, extensible security within a customer’s private cloud ecosystem.

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2Checkout Launches Online Marketplace 2CO Shopping

2Checkout.com (2CO) online payment platform launched its “2CO Shopping” online global marketplace at Shopping.2CO.com. The “2CO Shopping” provides a flexible turnkey solution for merchants who want to grow their online businesses. Merchants tired of getting lost in traditional multi-merchant marketplaces will find that 2CO Shopping’s buying experience and advanced marketing features, including access to direct marketing campaigns, built-in search engine optimization (SEO) features, and social commerce integrations, help drive more customers to their products.

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VersaCheck.com Launches Consumer Safeguards

VersaCheck.com has made available its “VersaCheck X1 DNA Secure” ultra-secure platform for creation and delivery of safeguarded checks. The system can eliminate the vast majority of losses associated with unauthorized or underfunded check payments in the US. The “VersaCheck X1” solution benefits users by offering a revolutionary level of counterfeit prevention, financial account protection, real-time withdrawal alerts and avoidance of credit card finance charges. Online merchants and users of Quicken, QuickBooks, Peachtree and other finance software can also benefit from DNA Secure™ check safeguards through easy integration with VersaCheck X1 software. VersaCheck X1 replaces prior VersaCheck versions effective immediately. VersaCheck 2008, 2010 and 2012 users are entitled to a free upgrade to the VersaCheck X1 platform.

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Wells Fargo Invests $22.5mm in L.A. Nonprofits

Wells Fargo invested a record $17.3 million in 1,600 schools and nonprofits in Greater Los Angeles in 2010 – up 16 percent from 2009. In addition, Greater Los Angeles Wells Fargo employees contributed more than $5 million and 27,724 volunteer hours to local nonprofits and schools to help their neighborhoods and communities succeed. Total investments in the community by Wells Fargo and its employees exceeded $22 million in 2010. Nationally, the company invested $219 million in grants to 19,000 nonprofits and schools. Employees contributed more than 1.3 million volunteer hours around the country.

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AmEx Vice Chairman to Participate in the Morgan Stanley Summit

American Express Vice Chairman, Ed Gilligan, will participate in the Morgan Stanley IT Services Summit in New York, on May 4. A live audio webcast will be made available to the general public through the American Express Investor Relations website at http://ir.americanexpress.com. An audio replay of the presentation will be available after the event at the same website address.

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MoneyGram Launches “Cricket For Peace” Album

MoneyGram remittance concluded ICC Cricket World Cup 2011, launched a unique music album, “CRICKET FOR PEACE.” The “CRICKET FOR PEACE” album a popular Indian film music singer is the culmination of a three-month-long program from February – April 2011 during the ICC World Cup 2011. MoneyGram’s Cricket For Peace was a multi-country, multi-lingual initiative conducted in Bangladesh, India and Sri Lanka and attracted compositions from more than 100 bands. Cricket For Peace was a theme-based music contest that linked cricket with world peace.

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Advanzia Bank Renews TSYS Agreements

Advanzia Bank credit card issuer has renewed its agreement with TSYS to process its consumer credit card portfolio for undisclosed terms. As part of the new agreement, Advanzia will convert its portfolio from TSYS’ Prime platform to its “TS2” processing platform. Advanzia issues more than 1.5 million MasterCard credit cards to consumers in both Luxembourg and Germany, transacting all of its business online with no physical bank branches. Advanzia was established in 2005 and has been a client of Card Tech Limited, now TSYS Card Tech, since that time.

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