3i Infotech-Framework signs Media Development

Media Development Loan Fund (MDLF) has selected 3i Infotech-“Framework” to support its administration of its global loan portfolio and investors. Framework is a fully integrated, end-to-end software solution for the private equity industry. MDLF is a mission-driven investment fund that provides low-cost capital – loans and equity investments – and technical know-how to independent news outlets in countries without a free press. Working in Africa, Asia, Latin America, Southeast Europe and the CIS, MDLF helps journalists in challenging environments build sustainable businesses around professional, responsible, quality journalism.

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US Saw 2010 mPayment Adoption Up Nearly 100% Y/Y

mopay payment solutions for online merchants saw unprecedented North American mobile adoption rates in 2010 with conversion rates almost doubling within one year, helping bridge the divide between leading regions Asia and Europe. mopay attributes this rapid growth to improved carrier agreements, easier integration, optimized usability and growing general acceptance amongst consumers. The company analyzed significant data from its international mobile payments platform and based this conclusion on conversion rates, transaction values and transaction numbers accumulated in more than 80 countries. Mobile payments work best within a value of USD $2.50 and $10.00. Global merchants have independently established a sweet spot of their mobile payment offers of around $8.00. Only three percent of all offers ranged below a value of $2.50 and two percent exceeded a value of $14.00. The Company’s findings also shows consumers regularly spend up to $50.00 per month using mobile payments.

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Oregon Employee Federal Credit Union Joins doxo Network

Oregon Employees Federal Credit Union (OEFCU) is now on the doxo network, allowing members a way to receive their statements directly from OEFCU paperlessly. This also gives members access to a free digital file cabinet to organize household accounts and securely store copies of their most important documents. doxo provides OEFCU members a secure place to organize and store digital copies of important documents that they would normally keep in a safety deposit box – including tax documents, insurance policies, house or car titles, wills, trusts, birth and marriage certificates.

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Inversiones Platco Deploys Hypercom Encryption

Hypercom announced that Inversiones Platco electronic payment network will immediately make available Hypercom’s EFTSec P2P payment data encryption protection to member banks and more than 46,000 merchant customers. EFTSec encrypts cardholder data during transaction processing, starting at the payment terminal and ending at a trusted point where the data is decrypted. EFTSec is the industry standard for payment terminal initiated link encryption in Asia and is used by major banks with combined assets of nearly US$200 billion, and is licensed to and implemented by several major terminal manufacturers in Asia.

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Clear2Pay Wins Contactless Monkey Award

Clear2Pay international technology provider of next generation payment solutions for financial institutions has won the Contactless Monkey Award in the category “Trailblazing and Innovation”. The “Trailblazing and Innovation” Award is given to companies who have done the most to further the boundaries of contactless technology either through technology introduction or pilot programs. This was in recognition of its South Africa EMV Contactless Payment and Electronic Fare Collection Program, a joint project with South African consultancy firms Keith Smith Consulting and Techso Smart Solutions. This was the first EMV-based eTicketing transport program on the African continent and aims to modernize South-Africa’s public transport.

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CHARGEOFFS & BANKRUPTCIES SHOW POSITIVE CORRESPONDENCE

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] March U.S. credit card ABS chargeoffs increased for the first time in six months to 8.31% from 8.05% in February, coinciding with bankruptcies having reached the highest point since April of 2009. The 144,657 consumer bankruptcies recorded in March- although down overall by 6% nationwide since the year ago period- historically…

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1Q/11 Closed-Loop Prepaid Cards Show Strong Performance

First Data Corporation electronic commerce and payment processing released an overview of its 1Q/11 “SpendTrend Closed-Loop Prepaid Cards” analysis. Tracking year-over-year same-merchant activations, redemptions and reloads of merchant-branded prepaid cards in the U.S. for spending, gift, incentive and promotional cards, January saw year-over-year activations up exponentially. This was subsequent to merchants gift card incentives, but post-holiday redemption rates slowed, likely due to rough weather, but rebounded with double-digit growth in February thanks to those seeking seasonal bargains. Then in March, overall dollar volume growth of activations, redemptions and reloads posted strong double-digit increases.

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ABI Appoints New President

Geoffrey L. Berman will now sit on the American Bankruptcy Institute (ABI) Board of Directors as President for 2011-12 for a one year term, effective at the Company’s Annual Spring Meeting, March 31-April 3. Berman has served as ABI’s Vice President-Publications and chaired a Task Force on General Assignments. A co-Executive Editor of the ABI Journal and a frequent speaker at ABI conferences, Berman is also a member of the Los Angeles, Orange County and Bay Area Bankruptcy Forums and the Association of Insolvency Accountants, and is a frequent lecturer on bankruptcy and insolvency subjects. He received his B.A. in business administration with an emphasis in accounting and finance from the University of the Pacific and his J.D. from Southwestern University School of Law.

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PCI DSS-Compliant Cos See Fewer Breaches, Most Ignore Correlation

While the majority of PCI compliant organizations suffer fewer or no breaches, most practitioners still do not perceive PCI-DSS to have a positive impact on data security. This is based on findings showing, 64% of PCI-DSS compliant organizations reported suffering no data breaches involving credit card data over the past two years while 38% of non-compliant organizations reported suffering no breaches involving credit card data over the same period. Moreover, 63% of compliant organizations suffered no more than a single data breach, compared to 22 percent of non-compliant organizations, and 26% of non-compliant organizations suffered more than five breaches over the same time period. These findings, according to Imperva data security and the Ponemon Institute’s the “2011 PCI DSS Compliance Trends Study,” also shows hypocritical sentiments showing 88% did not support the claim that PCI-DSS compliance has a positive effect on the number of breaches experienced and only 39% mentioned data security improvement as one of the regulation’s value propositions for business. Additionally, only 33% believe that PCI-DSS compliance expenditure is covered by the value it brings to organization.

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JetPay Offers Acculynk Internet PIN Debit

JetPay and Acculynk announced “PaySecure” is now available on the JetPay payment platform. JetPay payment transaction processing suite and Acculynk’s “PaySecure” PIN debit payments on the Internet partnered in 4Q/10 to offer “PaySecure’ to existing JetPay merchants and Ecommerce merchants with other acquirers that do not currently offer PaySecure. Acculynk partners with major merchant acquirers such as these to make the product available to their installed merchant base. In cases where the acquirer does not currently offer PaySecure, the product can be leveraged as a hook product for new business.

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BillFloat and Online Resources Partner for ePayment

BillFloat small-dollar loans for consumer bill payment has entered into an agreement with Online Resources online financial services. With this, Online Resources will extend its biller-direct suite of electronic bill payment, presentment and receivables solutions by marketing BillFloat as a consumer payment option, helping users avoid late fees, bank overdraft charges and expensive loans when paying critical bills. Online Resources will make BillFloat available to its extensive customer base of billers that include financial services, utility, telecommunications, insurance and healthcare organizations. Offering a consumer-centric bill payment solution to the 61% of US workers that live paycheck to paycheck, BillFloat’s lending partners offer consumers short-term loans at a 3% monthly rate of interest, based on the recommendations of the FDIC’s Small-Dollar Loan Template.

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