WALMART REWARDS

Walmart Canada Bank, a subsidiary of Wal-Mart Canada, has launched its “Walmart Rewards MasterCard.” Walmart Rewards are earned in dollar equivalents – not points – making it easy for cardholders to know how much they have to redeem. Walmart Rewards can be earned on a cardholder’s everyday spending, from groceries to gas. Cardholders earn 1.25 per cent of their purchases in Walmart Rewards for virtually every dollar spent at Walmart Canada and 1 per cent of their purchases in Walmart Rewards when used virtually anywhere else MasterCard is accepted. There are no limits on how many Walmart Rewards cardholders can earn.

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Encore Selects PAX as Preferred PIN pad Provider

TX-based Encore Payment Systems has tapped PAX Technology as a preferred provider of PCI PTS compliant PIN pads. With this, the “SP20” PIN pad will now be included in the Encore “Clear Advantage Secure Payment System” payment system for small to medium-sized businesses, allowing a variety of different payment processing types. The “SP20 PIN” pad is rugged, provides a privacy shield and easy to use PIN pad. It is PCI 2.x compliant, making it a secure and compliant solution into the year 2017 and easily integrates into existing POS terminals allowing merchants to become compliant with as little change as possible.

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VocaLink enhances Euro Clearing and Settlement Mechanism service

VocaLink international payment transactions has enhanced its Euro Clearing and Settlement Mechanism (CSM) service. Banks and their customers will benefit from greater reach and flexibility in submitting SEPA and non-SEPA payments destined for UK Euro or pound sterling accounts. The service currently provides banks and their customers with greater flexibility in submitting payments via VocaLink’s CSM through four daily settlement cycles with same day delivery of Euro, SEPA and non-SEPA payments through one payment file. This will also enhance end-users’ Straight-Through-Processing rates, even if the UK beneficiary account is in pound sterling, providing banks with a fast, cost-effective and reliable way of achieving reach to all UK Bank Identifier Codes.

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mPayment Transactions to Double to $200b by 2012

The value of digital and physical goods that people buy with their mobile smart phones will reach $200billion globally by 2012, compared to the current $100billion annually. Digital goods include entertainment and tickets, whilst physical goods include groceries, gifts and books. The availability of secure, easy-to-use, payment applications and a growing realization of users they can make ecommerce purchases by mobile will drive the market. This, according to a new study by Juniper Research, also showed merchants need to communicate the cost of transactions more clearly to encourage consumers; the frequency of physical goods purchased will be higher than average in North America and Western Europe; and the best potential can be found in highly targeted marketing campaigns with apps and mobile web payments.

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Gold Mobile Launches SaaS mLoyalty Solution

Gold Mobile has launched its “GoMo Wallet” mobile-based Software as a Service (SaaS) customer loyalty solution. Offering a scalable, highly secure and very convenient way for retailers and marketers to utilize the mobile platform to deliver and track loyalty rewards/incentives while processing transactions in real-time, the “GoMo Wallet” seamlessly integrates with businesses’ existing customer relationship management (CRM) systems and loyalty systems and is fully compatible with all major wireless networks and mobile devices. Unlike existing credit card and shopping card transaction methods, the new loyalty solution enables corporate enterprises to initiate “Friends & Family Commerce” to manage spending limits, parental controls, monitor spending habits, transfer balances and request spending approval on-the-fly; “Spending & Payment Policy Management” of consumer or corporate expense accounts; and
“Anywhere Approvals & Transactions” that can be made directly from mobile phones to request approval for extra spending and instant access to account status.

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Mocapay is a Finalist for the 2010 Red Herring Award

Mocapay has been selected as a Finalist for Red Herring’s North America 100 award, a list honoring the year’s most promising private technology ventures from the North American business region. The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across North America. Finalists for the 2010 edition of the Red Herring 100 North America award are selected on both quantitative and qualitative criteria based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. Mocapay offers an integrated marketing and sales solution to enhance the lifetime value of a customer for client companies.

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Ukash Partners to Expand Services into Mexico

Ukash online-cash payments company has partnered with MIT and Citadel to extend its services into Mexico. A mostly cash-orientated economy, Mexico consumers are unable to make transactions online. Through the Ukash partnership with MIT (Mercadotecnia, Ideas y Tecnología), Ukash vouchers are issued at the POS from nearly 400 convenience stores that provide mobile airtime and other payment services through the popular Compra y Paga brand. Ukash vouchers are available in denominations of 200 and 500 Mexican Peso, obtained by simply exchanging cash for a voucher. Ukash vouchers can also be obtained online through a deal with Citadel, where consumers can visit the Citadel payment page and select a voucher from around 150 to 1,500 Mexican Peso.

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U.S. Bancorp Set to Release 2Q/10 Earnings

U.S. Bancorp is set to announces its 2Q/10 earnings before the market opens on Wednesday, July 21. With this, the chairman, president/chief executive officer, and vice chairman/chief financial officer, will host a conference call to review the financial results. The conference call will be available by telephone or on the Internet. A presentation will be used during the call and will be available at www.usbank.com. Minneapolis-based U.S. Bancorp has $282 billion in assets and operates 3,025 banking offices in 24 states and 5,312 ATMs and provides payment services products to consumers, businesses and institutions.

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Fiserv Remittance extends to Beyond 100 Financial Institution

Fiserv financial services technology has announced more than 100 financial institutions have already committed to offer its “ZashPay” person-to-person (P2P) payments service. Banks and credit unions across the United States, ranging in size from small community institutions to top 50 banks, have signed up to offer the service, with continued interest and signings expected throughout the summer. “ZashPay” allows consumers to send or receive money using their existing online bank account, will roll out through this network of financial institutions beginning in early summer and is built into a Fiserv online payment service currently used by more than 3,100 financial institutions and 16 million consumers. It allows users to send money to anyone, regardless of the recipient’s financial institution relationship.

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Cards Grease Economic Engine, Save Taxpayers Millions

Digital currency has the potential to dramatically transform government payments in the next five years, saving U.S. taxpayers hundreds of millions of dollars in the process. Hosted by THE HILL congressional newspaper and sponsored by Visa, the positive impact of digital currency on all aspects of government payments and purchasing was highlighted at a briefing in Washington, D.C., highlighting state, local and federal government agency plans by to launch or expand electronic payment programs to improve efficiency, accountability and transparency. Referenced savings plans include U.S. Department of Treasury plans to switch to electronic payments, eliminating about 136 million paper checks, saving almost $50 million in postage costs and saving U.S. taxpayers about $300 million over the first five years and more beyond; The U.S. Social Security Administration and U.S. Department of Veterans Affairs recently announced the completion of the switch to digital currency for benefits payments; 39 U.S. states currently deliver benefits on Visa prepaid cards to recipients of 71 programs for child support, unemployment insurance and Temporary Assistance for Needy Families (TANF) disbursements; and the U.S. General Services Administration’s SmartPay program provides purchase, travel, fleet and integrated payment card programs to more than 350 federal agencies and departments, saving these agencies $1.7 billion — up to $70 per purchase.

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BankAtlantic Implements DCS Instant Card Issue

BankAtlantic has upgraded instant card issuance technology to offer unembossed debit cards at 99 of its branch locations through Dynamic Card Solutions (DCS) instant issuance and PIN solutions for magnetic stripe, EMV and contactless cards. BankAtlantic first started working with DCS in 2006 to implement an instant issue program for their MasterCard debit card program using embossed technology. With this upgrade, BankAtlantic converted to “DCS’ FCP 20/20” flat card printers and issues personalized unembossed debit cards to customers through the DCS “CardWizard” instant issue software. The “FCP 20/20” flat card printers allows BankAtlantic to offer and produce from “branded white stock” a variety of images that cardholders can select for their card background. DCS’ CardWizard software transfers all personalization data fully encrypted to the “FCP 20/20 printer” before the unembossed debit card is issued to the cardholder.

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Dollar Financial Appoints New Senior VP, eCommerce

Carole Cross has been appointed Senior VP of eCommerce with the Dollar Financial diversified financial services company. Serving unbanked and under-banked consumers for over 30 years, Dollar Financial chose Cross thanks to her wealth of experience, most recently gained at Armstrong World Industries as the GM, eMarketing. Prior to this, Carole was the eChannel Director for IKON Office Solutions, responsible for developing the internet business at IKON from a start-up situation to a significant contributor of IKON’s revenues and sales strategy, and was employed by Dell Computer Corporation as the Online Marketing and Alliance Senior Manager responsible for implementing online commerce solutions.

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