ID Data Now Vincento Payment Card Supplier

ID Data Cards has been reappointed Vincento Payment Solutions’ preferred card supplier on its “Kalixa” online eAccount and prepaid MasterCard for at least two more years. having first begun supporting the program in 2008, ID Data Cards will support the company’s expansion plans for the Chip & PIN “Kalixa Card” into at least five new European markets, providing a complete plastic card solution for all production and fulfilment requirements such as design, manufacturing, personalization and mailing. The “Kalixa” solution hit the UK in February 2009, followed by subsequent launches in Germany in November 2009 and most recently in Italy earlier this year.

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IPP of America Expands Network, Changes Name

IPP of America (IPP) retail payment services has acquired AmeraCash Solutions bill payment service provider with a network of over 600 locations throughout the Mid-Atlantic region to significantly expand its retail and biller network. Targeting cash-preferred consumers, the network offers domestic and international bill payment processing, pay by phone technology, international mobile phone top-ups, prepaid wireless and debit cards. Additionally, IPP is changing its name to Softgate Systems to more accurately reflect focus on its technology processing platform; “Retail Payments Exchange.” Finally, the Company is launching its “PayXchange” retail brand across it’s 18,000 retail locations throughout the U.S., over half of which provide bill payment, throughout 2011.

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Chase Appoints New CIO

Irene Tse is joining Chase as CIO for North America, bringing with her more than 17 years’ portfolio management experience. Prior to joining J.P. Morgan Chase, she was a managing director and portfolio manager at Duquesne Capital Management, focusing on global macro investing. During her three years at Duquesne, she worked closely with founder Stanley Druckenmiller, focusing on various rates, mortgage, credit, foreign exchange, equity, commodity and structured product offerings. Prior to joining Duquesne in 2008, she was a partner and co-head of U.S. rates at Goldman Sachs.

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MasterCard, Interswitch Launch Debit Card

MasterCard and Interswitch have forged a strategic co-brand debit card agreement in conjunction with Central Bank of Nigeria’s “Financial System Strategy 2020” to advance the efficiency of the country’s e-payment systems. By reducing the reliance on cash and promoting interoperability among financial institutions, the co-brand “Verve” chip and PIN debit card will provide users a wide acceptance network by the end of February with acceptance at over 12,000 POS, 400 online merchants and at 10,000 ATMs throughout Nigeria. Also, as a MasterCard branded-card, it will be accepted at 30.9 million acceptance locations across 210 markets worldwide.

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Ravensburger Implements Omikron Payment Factory

Ravensburger games and books is centralizing corporate workflows through Omikron’s “MultiCash Transfer” to meet its specific requirements to build a Payment Factory that can be used across the group and ensure payments could be authorized from separate locations. This consolidates its multibanking solution, designed for Straight-Through-Processing, has been integrated into Ravensburger’s IT landscape, and is SEPA compliant. The “MultiCash Transfer” option also incorporates bank-proprietary delivery channels, which allows access to banks not, or not yet complying with the latest standards.

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Western Union Extends Network Across Europe

Western Union has forged agreements with PayPoint payment services to extend its network reach into the United Kingdom and Romania. The deal will make Western Union Money Transfer available on PayPoint´s in-store terminals across the UK and will serve as a stepping stone for market expansion for additional services. Meanwhile, the “Money Transfer” service will be rolled out over time in Romania across the PayPoint network of convenience stores in urban and rural areas, where it will be provided via PayPoint´s point of sale terminals. The new service will offer additional convenience to consumers in both countries through customer-friendly opening hours and easier access. PayPoint delivers payments and services through a combination of local shops, internet and mobile distribution channels and handles over GBP10B annually from almost 570 million transactions annually.

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Chase Donates $25mm to Small Business

Chase announced $25 million in grants to Community Development Financial Institutions (CDFIs) serving hard-to-reach communities, part of the Bank’s $100 million commitment to strengthen these institutions. CDFIs lend to low-income persons and businesses in struggling communities for community development purposes with grants from $2 million to $5 million for institutions across the country. Chase has taken additional steps to support small businesses, including lending 40% more in 2010, becoming the #1 Small Business Administration lender in the United States and encouraging economic development through innovative programs such as Chase’s “Loan for Hire,” which reduced the interest rate on a small business loan for every new employee the business hires. These grants will in most cases double the existing capital bases of the organizations and allow them to grow. Chase has partnered with top-tier CDFIs for more than 20 years, having provided more than $1 billion in loans, grants and investments to CDFIs and their affiliates, committing $100 million toward CDFIs just last year.

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NxSystems Launches Web-Based POS System

NxSystems Global Payment Solutions has launched its “NxPOS” web-based POS allowing merchants to issue, activate and manage prepaid debit cards. The “NxPOS” lets merchants deposit or remove funds in multiple government-issued currencies; check current balances; review transactional history; receive payment from prepaid debit cards; and manage reward card programs. Users can also instantly issue an open or closed loop prepaid debit card to their customers. Customers can check their prepaid debit card account balances online by logging into the “NxPay” Payment Platform or ask the merchant

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Skrill Appoints Bob Wigley Non-Executive Chairman

Bob Wigley has been appointed Skrill e-wallet platform, Non-Executive Chairman. Operating its major European online payments systems with over fifteen million account holders, Skrill offers its 80,000 registered online merchants access to over 100 payment options in over 200 countries and territories through just one integration. Wigley is also Chairman of Yell Group PLC, eXpansys PLC, and Stonehaven Associates LLP. Bob also recently Chaired the Green Investment Bank Commission for George Osborne, Chancellor of the Exchequer and was Chairman of Merrill Lynch Europe until January 2009 when it was taken over by Bank of America.

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OXXO Selects NEC POS Solution

OXXO convenience store chain in Latin America is set to implement NEC’s “TWINPOS 4500” POS hardware platform. OXXO is the largest convenience store chain in Latin America, with more than 8,000 stores throughout Mexico and Colombia, providing convenient services and products, 24-hour service in most areas and a fast and comfortable shopping experience. With more than 300,000 POS systems installed worldwide, NEC technologies meet the complex needs of its customers and was established more than 100 years ago.

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CardNET Implements VeriFone Card Encryption

Consorcio de Tarjetas Dominicanas, S.A. (CardNET) card transaction processor has implemented VeriFone Systems’ “VeriShield Total Protect,” secured by RSA. CardNET processes an estimated 80 percent of the total value of card transactions in the country and will utilize “VeriShield Total Protect” to implement end-to-end encryption of card data. RSA, The Security Division of EMC, and VeriFone in 2010 announced a strategic partnership to market their end-to-end encryption and tokenization solutions as an integrated payment security offering. With VeriShield Total Protect, cardholder information is encrypted at the exact instant of acceptance and encrypted throughout the enterprise until it is transmitted to a secure decryption server, eliminating any risk of usable cardholder data being compromised by a data breach.

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Office Depot Intros No Interest Business Card Promo

Office Depot has made available its “No Interest For Six Months” financing offer available to all new and existing Office Depot Business Credit Card holders, now through February 26. Office Depot Business Credit Cardholders can now take advantage of the “no interest for 6 months” offer on all purchases totaling $299 or more if paid in full by the end of the promotional period. As managing budgets and cash flow are so critically important to small businesses, providing options to be able to invest in equipment and supplies is a much needed benefit. In fact, the Office Depot December Small Business Index revealed that 72% of small business owners think interest rates will rise this year.

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