SABEResPODER, Wells Fargo Offer Underbanked Financial Education

SABEResPODER and Wells Fargo have partnered to provide financial education to the underbanked in 13 cities through July 1, 2011. The educational campaign includes the introduction to financial literacy and to banking products and services that will help the underbanked succeed financially, ranging from opening a bank account to remitting money overseas to family and friends. The campaign will run in Anchorage, Phoenix, Tucson, Denver, Atlanta, Boise, Saint Paul, Albuquerque, Las Vegas, New York, Portland, Salt Lake City and Seattle. Conjunctively, Wells Fargo is including an “ExpressSend” remittance rebate offer in the financial education guide that will be good throughout the campaign.

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MerchantService.com Releases PCIDSS Compliance Video

MerchantService.com merchant account services has released a new video and article on their website titled “PCI DSS Compliance Mandatory for Credit Card Merchant Accounts.” The article focuses on the required compliance to Payment Card Industry Data Security Standards (PCIDSS) for all merchant account holders, the potential penalties and fines caused by non-compliant credit card processing, and some important guidelines for meeting PCIDSS regulations. Many vendors don’t realize that owning a merchant account means abiding by the regulations set forth by the Payment Card Industry Security Standards Council, or PCISSC. Penalties ranging from $10,000 to $600,000 await those who are not in compliance with the PCIDSS regulations. Credit card processing privileges may also be suspended permanently.

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Monster Offers Kicksoff End-to-End mBanking for Daily Deal Industry

Monster Offers mBanking solutions announced its vision to help local consumers find relevant daily deals, make those deals easy-to-buy and provide accurate and detailed data analytics to the Daily Deal industry. Leveraging its recent exclusive worldwide agreement with Zala, Monster Offers will deploy a series of consumer and business banking solutions under a newly formed subsidiary this quarter. These solutions will be available on more than 150 approved handsets including iPhone, Android, Blackberry, and Nokia. Users will also be issued a Visa or MasterCard integrated with their deal redemption account.

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Discover Awarded Bankrate Strength/Stability Rating

Discover Bank has been awarded five stars-the highest rating- by the Bankrate.com “Safe & Sound Ratings Service” of relative financial strength and stability in the financial services industry. The service has provided consumers information on the strength and soundness of U.S. commercial banks, savings institutions and credit unions for more than 13 years. The Bankrate “Safe & Sound” ratings are comparisons to both industry peer norms and standards. Individual performance levels are determined from publicly available regulatory filings and are compared to asset-size peer norms, industry standards and key absolute benchmarks.

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ES TELER 77 & VOLANTE POS Forge Partnership

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Indonesian restaurant chain Es Teler 77 and point of sale software developer Volante Systems have partnered in a 180 store enterprise POS rollout. Starting from humble beginnings with one stall in the parking garage of a Jakarta Indonesia shopping mall, Es Teler 77 now boasts of 180 stores in four countries.…

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BPC Banking Technologies to supply national processing center

BPC Banking Technologies Open System e-payment solutions for the global financial industry has won a competitive tender to build a new national switch and processing platform for Uzbekistan. UZKART, Uzbekistan’s national payment system includes 28 participating banks issuing more than 8,5 million cards. UZKART needed to replace its DUET based legacy payments processing infrastructure to cope with the rapid growth in the country’s payments business. Card and POS numbers have been increasing at 25-30% per annum, while transaction volumes have been doubling each year. Additionally UZKART wished to broaden its business offering by being able to issue and acquire internationally branded cards, while meeting the highest standards for data security and fraud management. BPC’s award winning SmartVista suite was chosen after a competitive bid process as it was able to support the significant demands inherent in running a nationwide payments infrastructure. SmartVista’s broad range of capabilities effectively support and manage payments across all channels, including POS, branch, Internet, and mobile applications.

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Diebold to Deliver More Than 200 ATMs to Sovcombank

Sovcombank has chosen Diebold to provide more than 200 Opteva automated teller machines (ATMs) for its ATM network. The installation process is expected to be completed within the next few months. As a result of this most recent deal, there will be more than 450 Diebold ATMs within Sovcombank’s network.The Opteva 522 interior ATMs will help Sovcombank extend its self-service network as a part of the bank’s retail loan services development program throughout Russia. The ATMs’ broad functionality and reliability will provide a high level of remote service, which will fully meet the global standards for quality and safety. With its compact footprint, the Opteva 522 interior ATM is ideal for lobby and off-premise retail locations.

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Eckoh Achieves Contract Renewal with O2

Eckoh developer of speech recognition solutions for customer contact centers, announces the award of a three-year renewal of its contract with O2, the communications company, for the provision of services using a web-based solution and speech recognition technology. The initial contract, announced in December 2004, was for an automated telephone-based service, which was extended to include an equivalent web offering in 2007. Under the current contract, Eckoh has enhanced its solution by deploying its PCI DSS compliant, EckohPAY product. Since its launch of the service in December 2004, the Company has handled over one million transactions on behalf of O2.

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Ukash Partners for e-cash option at 2012 Olympic tickets

Ukash eMoney network has partnered with 3V Transaction Services, allowing consumers to buy 2012 Olympic Games tickets with e-cash before the looming deadline of April 26th. The Olympic Games tickets can only be purchased with Visa, which includes3V prepaid Visa vouchers. As of today, consumers can purchase Ukash at thousands of points of sale across the country and convert it into a 3V voucher online at www.3Vprepaid.comto spend anywhere Visa is accepted, including the official ticketing website of the London 2012 Olympic and Paralympic Games. Ukash vouchers can be converted into 3V Visa Numbers in amounts from £30 to £150, with small surcharges ranging from £2 to £5 pounds.

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Citigroup 1Q/11 Revenues Up 7% Sequentially

Citigroup posted a 1Q/11 net income of $3.0 billion from $1.3 billion in 4Q/10 while revenue totaled $19.7 billion, up 7% from 4Q/10 but down 22% from 1Q/10 revenues of $16.5 billion. This was thanks in part to continued credit improvement as Citigroup net credit losses declined for the seventh consecutive quarter to $6.3 billion. With this, March, gross yield reached 26.73%, the highest point since April 2010, as the 12-month average gross yield was 25.43% compared to the 12-month average of 25.04% at the March 2010 reporting period. Meanwhile, the Monthly payment rate (MPR) posted a 12-month average of 12.80%, up slightly from 12.06% at the March 2010 reporting period, indicating consumers are paying off their credit card debts slightly more quickly. Moreover, net chargeoffs declined to a 12-month average of 12.27%, down from 13.22% at the March 2010 reporting period, according to Fitch ratings, as the 12-month average 60+ day delinquencies were 5.40% compared to the year ago average of 6.15%.

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M&T Bank Announces 1Q/11 Profit

M&T Bank reported its results of operations for 1Q/11, demonstrating loans past due 90 days or more accrued interest of $264 million at the end of the recently completed quarter, including loans guaranteed by government-related entities of $215 million. Such past due loans were $270 million and $203 million at December 31, 2010 and March 31, 2010, respectively, including $214 million and $195 million of government guaranteed loans at those respective dates. Noninterest income totaled $314 million in the first quarter of 2011, compared with $258 million and $287 million in the first and fourth quarters of 2010, respectively. M&T had total assets of $67.9 billion at March 31, 2011, compared with $68.4 billion a year earlier while loans and leases were $52.1 billion at the recent quarter-end, up $675 million from $51.4 billion at March 31, 2010 and $128 million higher than $52.0 billion at December 31, 2010. Total deposits rose 6% to $50.5 billion at March 31, 2011 from $47.5 billion a year earlier and were up 1% from $49.8 billion at December 31, 2010.

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Datacard Group Launches New Card Encoder for Banks

Datacard Group secure ID and card personalization solutions has made available the “SuperC.A.T.” II card encoder, allowing financial institutions to offer their cardholders PIN, re-PIN or activate their financial cards at branch locations instantly. The “SuperC.A.T.” II card encoder fits easily into branch operations and can encode printed or pre-embossed magnetic stripe, contact, contactless or EMV(R)-compliant debit, credit or ATM cards. If a customer receives a newly issued card, forgets their PIN, or their card gets lost, compromised or blocked, they can choose their own PIN, re-PIN their card or receive a newly activated card at any time.

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