MoneyGram International, a leading global payment services company, announced that it has successfully expanded its global network to 200,000 agent locations. This significant milestone was reached with the addition of SRD MP and its partner Bimedia, a value-added services provider for tobacco and news retailers throughout France, which will bring MoneyGram money transfer services to 2,500 tobacco shops across the country. SRD MP, which has signed a five-year contract, will serve as a super-agent and will sign additional retail agents across the country. This partnership â MoneyGramâs first in France with a non-bank agent â will create a new channel for distribution, enable key retail network growth opportunities, and dramatically expand MoneyGramâs presence in France. The relationship is a positive example of the European Union’s Payment Services Directive (PSD) instituted in 2009, which allows for retailers and other non-bank organizations to provide payment services that were previously offered only by financial institutions in the EU. In celebration of opening of its 200,000th agent location and in recognition of the events taking place in different regions across the world, MoneyGram is donating a total of $200,000 to non-profit organizations working in El Salvador, China and organizations working in Ivory Coast and Senegal, parts of Africa that rely on remittances from France. Among the agencies receiving funds are the Pan American Development Foundation in El Salvador, ChinaSource in China, Friends of Therese Haury in Ivory Coast, and Grameen Foundation for microfinance programs in Senegal.Details
SmartMetric has announced on June 2 the US District Court for the Central District of California entered an Order Denying the Motion to Dismiss filed by defendants VISA and MasterCard. This is the latest development to the March 15 SmartMetric complaint for patent infringement against VISA and MasterCard. In response, on May 6 VISA and on May 14 MasterCard filed motions to dismiss. On May 28, 2010 plaintiff SMME filed a first amended complaint. SmartMetric representatives were please with the decision to deny dismissal and look forward to stating its case alleging infringements through VISA’s “PAYWAVE” and MasterCard’s “PAYPASS” card infringe on the Company’s various patentsDetails
TrustCash has implemented the device management specifications in its proprietary database for the Apple iPhone. Using the previously developed proprietary TrustCash JAVA device management web application, all versions and variations of the iPhone shall be fully supported as part of the mobile payments product strategy. The TrustCash Device Manager shall support all future versions of the iPhone globally with an automated real-time update process to any hardware, software and firmware upgrades done by Apple. Future sales projections for the iPhone shows they will reach 142.5 million in 2019 from 37.2 million this year, assuming the global smart phone market grows from 170.2 million units in 2009 to 569.8 million in 2019, and that Apple’s market share grows from 15% to 25%.Details
Fitch Ratings published its U.S. Credit Card ABS Issuance Trust
Updates for American Express Issuance Trust; BA Credit Card Trust;Capital One
Multi-asset Execution Trust;Chase Issuance Trust; Citibank Credit Card Issuance Trust;
Citibank Omni Master Trust;Discover Card Execution Note Trust and Washington Mutual Master Note Trust.
The “Credit Card ABS Issuance Trust Updates” offer a wide array of
performance data and trust detail. Fitch designed these comprehensive
reports to provide investors with timely and innovative research on
credit card issuance trusts updated monthly. The “Issuance Trust
Updates” link will access a compilation of parent company and trust
descriptions, collateral performance measures, trust capital structures
and maturity schedules, and break-even stress scenarios.
Gordon Caldwell has joined the Cardlytics transaction marketing team as southeastern regional account executive in Nashville. He will oversee managing Cardlyticsâ customer accounts throughout the Southeast region. Caldwell was a project manager and sales and marketing consultant for Piscataway, NJ-based D2M Solutions, an engineering solutions provider that specializes in prepaid and debit card development where he designed and launched two of the companyâs card programs. Prior to this, he was a product development, marketing and sales consultant for Nashville-based edo Interactive/Facecard prepaid card and mobile direct marketing firm. Additionally, he was director of sales and marketing for Nolensville, Tenn.-based NBPâs card marketing services department.Details
Among Northeasterners, 43% see the economy already having hit bottom while 53% say there is still a ways to go. This compared to the 36% of Americans nationwide who feel we have hit bottom and the 59% who believe the country has a ways to go. This, according to a nationwide survey issued by Citi and conducted by Hart Research, reflects the 62% of northeastern investors with more than $100,000 of investible asset whom believe the investment climate is better than it was a year ago while only 32% think it is worse than a year ago. This compared to the only 50% of investors nationally who feel the investment climate is better than a year ago while 41% think its worse. Additional findings show 77% in the Northeast are somewhat (63%) or very (14%) optimistic the investment climate will get better compared to 62%, 52% and 10%, respectively; 65% of Northeasterners ages 18-39 say things will get better compared to 57% over 40; and 60% believe that this is only a fair (28%) or poor (32%) time to make a major household purchase, compares to the national average of 61%, 27% and 34%, respectively.Details
Viet Nam Bank Card Joint-Stock Co (VNBC) reports that the number of Smartlink cardholders withdrawing
money at the ATMs of Dong A Bank soared to 80,000.
The company has connected with three banks belonging to the Viet Nam
National Financial Switching Joint-Stock Co (Banknetvn).
The number of Banknetvn cardholders withdrawing money from ATMs climbed
to 40,000 last month and the amount of money Dong A Bank has put into its ATMs
has increased gradually every month. The latest co-operation between the VNBC, which has nine bank members,
and Banknetvn, with 15 bank members, was the first step to connect the
ATM network of Dong A Bank with Agribank, VietinBank and the BIDV.
The VNBC has also connected its ATMs with two banks, Vietcombank and
Techcombank, via the Smartlink Card Service Joint-Stock Co, which has a
total of 29 bank members. Cardholders of any bank belonging to these
bank-card companies can make transactions at ATM machines of the member
banks, and use ATMs at the bank-card companies. Currently, cardholders can use only the POS machines of their bank-card
company. VNBC was expected to connect with every member of
Smartlink and with at least 60-70% of Banknetvn’s members by the
end of the year. Cardholders now can make only four basic transactions: checking account
balances, withdrawing cash, printing transaction histories, and
transferring money between accounts of the bank.
Global payment provider Elavon has chosen to extend its comprehensive security solutions suite by adapting
technologies from Semtek and Voltage Security to include end-to-end
encryption capabilities for its acquiring and gateway solutions.
Additionally, Elavon has developed advanced tokenization schemes that
will allow merchants to securely access card data for future transactions.
Elavon’s suite of security solutions supports multiple configurations
that are mapped to the business needs, point-of-sale infrastructure and
processing environment for merchants from a variety of industries. The
adaptation of Semtek’s and Voltage Securityâs encryption technologies
further complements Elavonâs delivery of secure solutions while
providing a single source for all payment solutions â from security to
processing, funding and support. Semtek is focused on resolving the security
vulnerabilities of magnetic stripe, contactless, and EMV based payment
systems. Voltage Security solutions are based on next generation cryptography,
provide end-to-end encryption, tokenization, masking and simplified key
management for protecting sensitive information such as card holder
Micro-processor smart card solution provider On Track Innovations has signed a contract to supply part of its “Magna” platform in order to assist the efforts for the harmonization and modernization of a certain developing country’s ID system. The expected revenues from the contract are close to $2 million, with deliveries expected to commence in the second half of the year. The new project comes after successful implementations of multiple ID projects in the same country. OTI designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking and loyalty programs.Details
NCR Corporation has announced that Boeing Employeesâ Credit Union (BECU)has deployed the NCR APTRA Vision, the companyâs latest enterprise software solution for self-service system management. NCR APTRA Vision provides BECU with a comprehensive view of their ATM network, by analyzing operational information, business performance and consumer experience. BECU initiated the first phase of NCR APTRA Vision deployment in May 2009. NCR APTRA Vision correlates data from multiple sources into one easily accessible web interface. The web interface provides management with a single location to observe trending information that helps operators assess overall system performance. The solution helps management make informed decisions and set strategic planning goals to increase service availability, enhance the customer experience and improve performance.
BECU is a not-for-profit credit union owned by the members. Profits are returned to the members in the form of better rates and fewer fees. With more than 600,000 members and more than $8 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country.
E-payment provider GlobalCollect has hosted another successful perspectives industry event. The Art of Payments took place in Prague and was designed exclusively for top eMerchants from around the world and dedicated to international online payment trends and fraud prevention. GlobalCollect is aPayment Service Provider of local e-payment solutions for international Customer Not-Present (CNP) channels such as internet, mail and telephone orders, and specialized in a wide range of industries such as travel, ticketing, telecommunications, retail, publishing, portals, online gaming, and digital content. While most providers limit their services to a technical link with payment acquirers, GlobalCollect is a full service partner consulting clients on how to increase transaction volumes, expand distribution channels, and reduce costs by streamlining back office processes. Through a single-interface online payment platform, we offer access to an unrivalled portfolio of local and international payment methods in over 200 countries, including all major credit and debit cards, direct debits, bank transfers, real-time bank transfers, eWallets, cash at outlets, prepaid methods, checks, and invoices.Details
Wincor Nixdorf is expanding its software expertise for mobile banking to use apps in combination with the
PC/E Mobile Banking solution. The use of apps is now possible in combination with Wincor Nixdorf’s
modular software portfolio PC/E Suite, which focuses on the sales and
service processes of retail banks. In 2009, Wincor Nixdorf initiated its business with
browser-based solutions for mobile banking with the introduction of PC/E
Mobile Banking. At the time, the offer focused on taking existing
content from a bank’s Internet banking offer and transforming it for use
via a mobile phone browser. Wincor Nixdorf has now expanded its PC/E Mobile Banking solution to
support both variants of mobile banking. The solution’s components are
already in use in more than 400 browser-based mobile portals and as the
basis for numerous smart phone clients.