KDDI & MFIC

KDDI telecom has invested US$22 million in Microfinance International Corporation (MFIC) to support its global expansion, namely to develop an open mobile payment platform worldwide. KDDI’s global relationship with over 600 carriers and MFIC’s innovative money transfer solution will allow mobile network operators (MNOs) to offer financial services and integrate unbanked customers with a mobile phone into the formal financial system. This market is projected to reach 1.7 billion in 2012. With this, KDDI is initially launching its US remittance service allowing customers to send money overseas with a multi-purpose calling card.

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Bank of America Web Site Tops Keynote Ranking

Keynote Competitive Research announced its 4Q/10 “Scorecard” ranked Bank of America the Overall Score winner with a score of 89 points out of 100. Bank of America also placed first in the Functionality and Privacy & Security categories and swept first place in all five required tasks, including: Open Accounts, Look-Up Information, Transact, Get Service and Learn and Plan. BB&T took first place in the Ease of Use category, while Citibank repeated as winner for Quality and Availability, a category that covers such best practices as bill pay guarantees, the availability of customer support for online banking, and Spanish-language online banking, where Citibank stands out among its peers.

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PAYPAL

Reportedly, 55% would prefer receiving money over other gifts this holiday season- up seven points since 2009- while only 15% would be offended. This, according to PayPal research, is in conjunction with PayPal Canada having partnered with CanadaHelps.org. Representing 83,000 Canadian nonprofit organizations, CanadaHelps.org offers Charity Gift Card, recipients of which can choose to donate their gift to any of the applicable organizations.

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nFinanSe Visa Reloadables at Dollar General

nFinanSe prepaid cards has begun deploying its Visa Reloadable Prepaid Debit Cards at approximately 9,000 Dollar General stores nationwide. Consumers can purchase the nFinanSe Visa Reloadable Prepaid Debit Card for only $3 and load additional funds at Dollar General locations for $2.95. Of the 19 card issuers mentioned in the Consumers Union 2010 Report on the prepaid industry, nFinanSe was noted for the lowest card sales price of $3 along with Walmart® and singled out for the lowest monthly maintenance fee of $2.95 and lowest ATM withdrawal fee of $0.99. The debit card is issued by Palm Desert National Bank pursuant to a license from Visa U.S.A.

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Global Axcess Provide ATMs Across Southeast US

Global Axcess’ “Nationwide Money Services” has signed a new, five-year agreement with a southeastern-based supermarket chain to provide ATMs. The contract initially covers 40 locations, with plans for up to 80 locations total in the future. Global Axcess expects to begin deploying the ATMs in January 2011 and expects to begin generating revenue from these services in the 1st quarter of 2011. The value of the current agreement over the five-year term for the initial 40 ATMs is approximately $250,000-$300,000 per year for a total of up to $1.5 million over the course of the five-year term.

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Infoblox Joins PCI Security Standards Council

Infoblox advanced network infrastructure control has joined the PCI Security Standards Council as a Participating Organization. With this, it will work with the Council to evolve the PCI DSS and other payment card data protection standards and is adding its voice to the process and delivering advanced PCI management and reporting products. Infoblox will also have access to the latest payment card security standards from the Council, be able to update its PCI compliance, report products based on the latest guidelines, provide feedback on the standards and become part of a growing community that now includes more than 500 organizations.

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Prepaid Card Holdings Pushes for Debit Fee Waiver

Prepaid Card Holdings launched two new web pages aimed at educating underbanked consumers on ways to use prepaid debit cards and avoid fees while explaining the reasons why prepaid card companies need to charge certain fees. The company is also challenging its competitors to follow the company’s policy of waiving monthly fees when deposit minimums are reached, as well as matching its policy of not charging for card issuance / fulfillment, card activation / set up or customer service.

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MOPAY PERFORMANCE

mopay payment solutions for online merchants posted record global growth in 2010, having added 150 new merchants in 20 countries globally, which brings the total to 80, with the U.S. accounting for 15% of all new merchant signups. This is thanks in part to extending its existing mobile payment solutions portfolio to landline payments with the launch of “mopay call” solution that enables social networking and gaming providers to offer even more payment options to their customers. Thanks also goes to the introduction of “mopay 2go” for mobile apps in Europe, the U.S. and APAC.

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S1 & PayPal Ink P2P Payments Processing

S1 Corporation payments and financial services software solutions has signed agreements with PayPal to develop and deploy payment solutions directly integrated into online and mobile banking platforms. Ten financial institutions so far have signed with S1’s “PM Systems” to offer Person-to-Person Payments powered by PayPal. The PayPal service allows consumers and businesses to make easy, fast and secure payments directly from their bank accounts to almost anyone with a mobile number or email address around the globe. The integration with the PayPal solution allows consumers to quickly send money to almost anyone with a mobile phone or email address by leveraging the PayPal network. If the recipient is one of the 90 million PayPal users, the funds will be deposited instantly for verified accounts, or they can create an account.

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VISA & MONTISE

Developed in partnership with Monitise, Visa is kicking off its “Visa Mobile” application for the iPhone to allow users access to more than 50 unique merchant offers through their iPhone. Available as a free download from the iTunes app store, “Visa Mobile” targets budget-conscious Visa account holders with its list of popular merchants to deliver exclusive offers. Offers are automatically delivered and stored in the application, can be tailored to consumers’ life styles and preferences, and can be redeemed either online or at physical retail locations. The application uses location-based technology to provide consumers with a map and directions to a nearby retailer where they can redeem merchant offers. Visa signed a global alliance with Monitise in June 2009 to custom-develop mobile services for Visa across a spectrum of handsets to ensure Visa account holders have a consistent, user-friendly, and secure mobile payment experience. Moreover, the application shows users nearby merchant locations and provides directions to locations where they can redeem offers and allows them to find the nearest ATM.

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MasterCard Foundation Appoints New Board Member

President Festus G. Mogae of Botswana has been appointed to the
MasterCard Foundation Board of Directors. President Mogae’s career is
distinguished by achievements that advanced economic and social progress
in Sub-Saharan Africa. President Mogae led the Republic of Botswana from
1998 to 2008. In 2009 President Mogae accepted the position of Special
Envoy of the United Nations Secretary-General on Climate Change, a role that
culminated with his participation in the UN Climate Change Conference in
Copenhagen. President Mogae spent the past year as the African
President-in-Residence at Boston University’s African Presidential
Archives and Research Center. He also served as Vice President, Minister
of Finance and Development Planning, and Permanent Secretary to the
President and was the Alternate Governor for Botswana at The
International Monetary Fund, The World Bank and The African Development
Bank.

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