Fifth Third and Planet Payment ATM Currency Conversion

Fifth Third Processing Solutions full service payment solutions provider announced that its “Pay in Your Currency,” powered by Planet Payment multi-currency and data processor, is being offered to the ATM terminal and to its processing clients. This Dynamic Currency Conversion offering allows international cardholders using eligible cards to see the final amount of a cash withdrawal in their home currency at the time of the transaction. The “Pay in Your Currency” service provides greater clarity and convenience to the cardholder by providing them the option to convert the transaction at the time of the withdrawal. If the cardholder chooses to have the transaction converted, the amount in their local currency that they see on the ATM screen is the exact amount that will appear on their financial institution’s account statement.

Details

American Chartered Implements FIS Processing

FIS banking and payments technology announced that American Chartered Bank will deploy its Integrated Banking Services (IBS) core processing solution. For which, FIS will also deliver several supporting products including, Commercial eBanking, Business eBanking, Sales and Service as well as EFT solutions. The bank will utilize the NYCE Payments Network for point-of-sale and ATM transactions. FIS’ IBS is a highly flexible and integrated core banking solution that provides financial institutions with innovative technology involving minimal disruption to their business operations and customers. IBS is the leading outsourced retail and commercial banking solution among mid-tier U.S. banks.

Details

Wells Fargo Allowing ATM Donations for Japan Recovery

Wells Fargo customers have donated over $1 million through Wells Fargo ATMs to the American Red Cross Japan Earthquake and Pacific Tsunami Fund and is now accepting donations through ATMs. Through more than 9,000 Wells Fargo branded ATMs across the country, customers will not be charged any fees for using the service and 100 percent of the donation is sent to the American Red Cross. Donations may also be made via the American Red Cross website at www.redcross.org. Last week Wells Fargo contributed $500,000 to the American Red Cross to support immediate relief and recovery efforts in Japan and is matching contributions from its team members dollar-for-dollar, up to $500,000, for a potential total of $1.5 million.

Details

Ceridian Sponsors Webcast on Health Care Reform

Ceridian Corporation payroll outsourcing and employee benefits administration is sponsoring Reforming Health Care Reform: New Directions for 2011-2012. The webcast will cover the latest news about health care reform and proposed revisions to the law, particularly how they may impact employers. Some of the health care reform questions will include what provisions of PPACA are causing the most uncertainty for employers; what changes in the law should employers expect and when and what role might the states take in affecting implementation of health care reform, particularly health insurance exchanges.

Details

U.S. Bancorp Foundation to Aid Disaster Relief Efforts in Japan

The U.S. Bancorp Foundation is donating $100,000 to the American Red Cross to assist with disaster relief efforts in Japan to help provide food, water, medical supplies and other services to victims of the recent earthquake and tsunami. The company is coincidentally encouraging all of its employees to make a contribution- which the Bank will match- and is waiving its minimum one-year employment requirement in order for employee donations to be matched by the U.S. Bancorp Foundation for this effort.

Details

FIS Software & WorkLight Launch Mobile Insurance Apps

FIS Software end-to-end policy administration systems has partnered with WorkLight mobile application technology, offering insurance companies smartphone and tablet applications for their agents, brokers and policyholders. FIS will utilize the WorkLight Mobile Platform to develop, run and manage custom and pre-packaged mobile applications to extend the reach of and accessibility to its ALIS policy administration solution. The first phase of ALIS mobile capability development and deployment will provide applications for agents and brokers to support new business and servicing apps. FIS also plans to introduce self-service applications for policyholders to access their policies using popular smartphone or tablet devices, for both personal and group business.

Details

Conference to Examine Impact of Fed’s Interchange Legislation

PYMNTS.com is set to host “What’s the Problem, What’s the Solution, Who Wins, Who Loses,” a half-day conference examining the potential impact of proposed Federal Reserve Board regulations on debit card interchange fees. Starting March 29th in Washington DC, the conference will address how under the proposed regulations, bank debit card fees charged to merchants for debit card transactions would drop by some 80%, and the subsequent massive revenue loss impacting banks. The conference will examine what the rules ultimately could mean for consumers, banks and economic efficiency. A final decision by the Fed is expected on April 21, 2011, unless Congress passes legislation to postpone the deadline to allow for further study.

Details

Ceridian Stored Value Solutions (SVS) Opens at Exhibit

Ceridian Stored Value Solutions (SVS) has officially set-up shop in China and will be exhibiting at the 9th annual China Department Store Summit, at the Hotel Kunlun in Beijing, March 31 through April 2. SVS is a leading provider of card-based programs that influence consumer behavior and increase client value by enabling the effective use of gift cards, incentives, promotional cards, consumer rewards and loyalty programs. It’s a global provider of prepaid solutions, delivering a fully dedicated gift card and promotional platform in 40 countries, 26 languages and 26 currencies.

Details

Shangai Rural Commercial Implements TCS BaNCS Core Banking

Shanghai Rural Commercial Bank or SRCB had selected TCS BaNCS Core Banking solution to introduce new products to market and efficiently manage transformation across its overall business lines. The TCS BaNCS Core banking will cover the organizations core banking, deposits, loans, payments and card modules. TCS closed Thursday’s trading at Rs.1,093.45, up by 2.76% from the previous close at the BSE.

Details

BOKU & O2 Introduce Direct Mobile Billing

Telefónica O2 Germany broadband and mobile services and BOKU online mobile payments have forged their direct carrier billing relationship, allowing O2 customers to use BOKU’s payment platform to purchase virtual and digital goods ranging from EUR.09 to EUR30.00 by entering their mobile number. This will charge the purchase directly to their mobile phone carrier bill. This new partnership integrates the BOKU mobile payments platform into O2 Germany’s operator billing interface, offering support for one-off and subscription payments in Germany; full pricing granularity from .09 Euros to 30.00 Euros; authorization and capture APIs with refund support; In-App Billing support; and Web Billing support.

Details

Visa Shows 12% Increase in Inbound Tourism Y/Y

Spending by international Visa cardholders traveling to Mexico rose by 12% from 2009 to 2010 according Tourism Outlook: Mexico, an annual report released by Visa. Examining Visa cardholder spending over the past two years, the report indicates the tourism industry in Mexico saw international Visa cardholder spending increase from $4 billion in 2009 to $4.4 billion in 2010, proving the resiliency of Mexico’s tourism industry despite global and domestic hurdles. Travelers from the United States remained the strongest contributors to Mexico tourism revenue during 2010, where American travelers spent more than $3.1 billion on their Visa cards while traveling within Mexico in 2010, 7% higher than the the previous year. Visitors from Brazil had the largest year-over-year increase at 85 percent, followed by Colombia (62%) and Argentina (53%). International travelers used their Visa cards on general retail purchases such as clothing and food, which accounted for approximately 51% of all purchases on Visa cards, totaling nearly $2.3 billion. Other major merchant segments included lodging (17%), other travel and entertainment (7%), restaurants (5%), and airlines (4%).

Details