American Express will acquire Accertify. Providing solutions to help merchants combat fraudulent online and other card-not-present transactions on a hosted software application, Accertify offers merchants the option to outsource their end-to-end fraud management process. This development will allow American Express to broaden its fraud prevention services to merchants for transactions that take place on all networks. This will compliment well the current American Express fraud prevention tools such as Electronic Verification, Enhanced Authorization and Charge Verification, which help merchants evaluate the potential risk of e-commerce and card-not-present transactions on the American Express network.Details
Digital River global e-commerce has introduced a comprehensive stand-alone global e-payments solution for online merchants in markets, including e-retail, travel and entertainment, and online services. Designed to increase revenue and customer lifetime value, Digital River “World Payments” enables online merchants to manage the entire payment lifecycle through a single connection to a payment gateway, merchant account services or fully outsourced payment programs. Digital River World Payments offers relevant payment options in more than 190 countries and over 170 transaction and display currencies. The e-payments solution is built based on a modular approach, with the “Payment Advance” program that combines merchant account services with a customized set of local payment methods, real-time fraud detection, back office solutions and check out optimization services; “Payment Stream” payment gateway service that simplifies global connectivity; and “Payment Source” comprehensive outsourced payments program designed to accelerate global expansion through fully-managed distribution and reseller services as well as local payment acceptance.Details
TNS Smart Network has licensed ACI Worldwide payment systems to provide ATM and POS transaction switching to the Interac Network Debit gateway for its more
than 15,000 white-label ATMs. This will allow TNS to consolidate its position as an ATM provider outside of the traditional banking environment
and allows NRT to become a direct connector to Canadian National Interac ATM and POS Network. NRT will no longer be reliant on third parties for
connectivity to Interac’s Shared Cash Dispensing and Direct Payment services and will see its transaction costs reduced as a result. The ACI team of
experts will be working with NRT to assist them with certification services to ensure the company’s transactions are accepted by Interac and will provide a
future functionality for connection to VISA, MasterCard and American Express as well as new device acquiring.
Advanced Content Services MTP Ventures has entered into a Non-Disclosure Agreement with one of the largest card issuers in the United States toward a strategic collaboration for ServeNation’s “Give While You Live” program featuring a general-purpose, reloadable debit card with multiple applications. The Network provider is accepted in more than 185 countries worldwide with millions of locations for merchant acceptance and cash access for its global base of users. The ServeNation team has submitted materials to the provider for review and expects to announce its next steps in the coming days. Further, the team commits to shareholders to provide several updates in line with ServeNation’s benchmarks toward card launch in 2011. Its original launch date of June 2010 was moved in light of several key benefits which the card will now offer in its inception, along with strategic partnerships and executive attachments which the company feels will seamlessly act to ensure a strong advance to market penetration.Details
Citi announced was cited as “Most Improved Lender” in the 2010 Equity Lending Survey conducted by Global Investor/ISF magazine and rated the number one provider in the “Market Knowledge: Emerging Markets” and the “Operations: Trade Support/Settlement” award categories. Clients that responded to the survey with “Citi has extraordinarily stable portfolios.” “Excellent service and product knowledge.” “Innovative and very willing to work with you.” “Citi continues to improve its platforms year-after-year.” and “Always first into frontier markets and leads the development of the securities lending markets of Brazil and Chile.”Details
ICICI Bank has launched its “I-Express” instant cross-border money transfer option for non-resident Indians (NRIs). Available through the ICICI Bank’s
select partners in the Gulf countries, “I-Express” offers the sender the option of visiting any partner outlet for instant credit into the beneficiary
account maintained with ICICI Bank in India. Funds are instantly remitted and the beneficiary could withdraw the money immediately and are accessible
through the network of over 2,500 branches and 5,600 ATMs, apart from the over 55,000 Visa-enabled ATMs. ICICI Bank provides remittance to customers in 40
American Express will extend its philanthropic commitment to developing emerging leaders within the nonprofit sector with a five-year, $25 million funding commitment. The additional funds will be used to expand the American Express Leadership Academy and build partnerships with well-known leadership organizations including the Center for Creative Leadership. This in response to research showing 71% of Americans trust nonprofits more than they trust government or industry to address some of the most pressing issues of our time while 83% believe nonprofits do not always have the resources they need to invest in the growth and development of their employees, indicating a clear need for increased investment in nonprofit leadership.Details
Nelson and District Credit Union of Nelson, British Columbia has chosen to implement the Fiserv “Acumen” core banking solution through Fiserv Solutions of
Canada. This after a review of competing processors thanks to the “Acumen” transformational technologies that deliver ease of use; positive references
from the growing number of Canadian credit union leaders already having deployed the solution; and its fully integrated loan origination platform,
comprehensive 360-degree view of the member’s relationship with the credit union, and the ability to generate a wide range of reports with speed and ease.
The completely open platform also provides real-time processing and global capabilities which credit unions cannot outgrow.
Cardlytics transaction marketing CEO, Scott Grimes, was named among three other finalists for TiE Atlanta’s 2010 Entrepreneur Award for “Most Significant Deal of the Year,” which recognizes the extraordinary liquidity or financing transaction of a business founded by an Atlanta-area entrepreneur. Grimes’ inclusion as a finalist is based on Cardlytics’ latest round of growth funding, which raised $18 million in new equity from new investors Kinetic Ventures and ITC Holdings, as well as existing shareholders, including Canaan Partners, Polaris Venture Partners and TTV Capital. Finalists were selected from more than 70 nominees by a panel of Atlanta-based entrepreneurs and investors.Details
Oberthur Technologies will supply South Africa-based ABSA Bank’s prepaid MasterCard contactless payment card with PayPass capabilities by early 2011.
Offering dual-interface payment technology, to enable both contact and contactless payment transactions, this card is the first of its kind in Africa and has been
designed for use in retail outlets throughout South Africa with faster POS speed. The Mastercard can also be used as a transport token in South Africa”s
transport system. Money can be loaded onto the users card either using cash or directly from a bank account, via a POS terminal, transit kiosk, Internet
banking or an ATM. The balance on the card will be limited to R1500 (USD$210) at any time and a maximum of R3000 ($420) may be loaded on the card per month.
Flint Telecom Group and Power2Process have partnered to introduce their prepaid debit card program through Alterna Card Services, set to deploy in December. Allowing Alterna prepaid debit cards to be sold, registered and loaded in targeted retail outlets in areas with high immigrant populations across the United States, the partnership is focal on providing financial freedom and security for immigrants, non-banked consumers, and anyone looking for a better way to manage money. Functioning just as a debit card, cardholders can withdraw money from any ATM Worldwide, pay bills online and having payroll direct deposit. It also allows users to send money around the world instantly as a convenient low cost alternative to traditional international money transfer services and will integrate Flint prepaid calling services with special discounts on international calling from the same card.Details
Amex Bank of Canada announced that British Airways has joined the American Express Membership Rewards as one of the Program’s newest points transfer participants. American Express Cardmembers enrolled in Membership Rewards are now able to transfer their points into BA Miles. BA Miles reward options include travel to any destination in British Airways’ worldwide network and with partner and oneworld alliance airlines. Membership Rewards is an American Express loyalty program that offers points on your eligible purchases or points for virtually every dollar in purchases charged to the Card.Details