AmEx/MC Cash Passport

American Express agrees to distribute MasterCard’s multi-currency Cash Passport card in South Africa. AmEx says the success of the first multi-currency Cash Passport, a co-branded card that AmEx launched with Absa in 2013, has paved the way for AmEx to make the Cash Passport product available through more outlets across South Africa this year. The MasterCard Cash Passport card can be preloaded with up to four currencies (U.S. Dollars, Pound Sterling, Australian Dollars and Euros) at once.

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Wirecard Deploys mWallet Solution

Wirecard has been supporting the mobile phone brand BASE as it launches the mobile BASE Wallet with prepaid payment card on the market. The Walletcard is a digital Maestro card and when used with a mobile phone, this enables contactless payment via near field communication (NFC) at all MasterCard PayPass acceptance points worldwide. The payment card can be used immediately after registration via the BASE Wallet app, which also provides a real-time overview of all completed transactions and available credit. The top-up function is also conveniently integrated in the Wallet. Wirecard offers another MasterCard digital credit card for payment in online shops. The prepaid card is also available as a plastic card. This enables the use of POS terminals which are not yet equipped with NFC technology.

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CardConnect Intros Merchant Account Management

CardConnect payment processing announced the launch of the CardConnect Merchant Center, an online account for each of its 50,000 merchant customers to view and manage their transactions in real time. The CardConnect Merchant Center – available at no additional charge to all businesses that use CardConnect to process payments – mirrors what consumers receive through their online banking accounts. It offers reporting and reconciliation, transaction management, account alerts, scalability and flexibility.

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UK Payments Council Announces Board Appointments

The Payments Council (15 July 2014) announces the appointment of three new independent directors to its Board. Sarah Chambers, Christine Farnish CBE and Robert Lerwill bring a wide range of experience in consumer policy, financial services and regulation to the Board. They join Clare Spottiswoode CBE as one of the Board’s four independent directors. Sarah is an expert in regulation, competition and consumer policy. Christine has wide experience of financial services, public policy and regulation. Robert Lerwill is a chartered accountant. The Payments Council Board is made up of 15 voting directors, a voting independent chairman and an observer from the Bank of England. In addition to the independents, 11 directors are appointed by the industry to represent a cross section of the Payments Council membership.

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mBank deploys HID Global Authentication Solutions

HID Global announced that mBank has successfully deployed HID Global’s ActivID DisplayCard Tokens.The tokens provide mBank’s corporate banking customers with an advanced, multi-factor authentication solution to securely access their Internet and mobile banking accounts. Headquartered in Warsaw, Poland, mBank is amongst the pioneers for corporate banking services in the country. It was also recognized in 2013 by Efma and Accenture as “The Most Disruptive Innovation” for projects and initiatives in the retail financial services arena that radically change and redefine the way it does business. mBank was seeking a highly secure, convenient and innovative Internet and mobile banking authentication solution that was easy to deploy.

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Chase Q2/14

Chase bank credit card profits were down sharply in the second quarter due to a higher provision for credit losses, higher noninterest expense and lower net revenue. However, card purchase volume was up sharply by 12%, delinquency dropped 28 basis points and charge-offs declined 43 basis points. Card Services net revenue as a percentage of average loans was 12.15%, compared with 12.59% in the prior year and 12.22% in the prior quarter.

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Visa Announces DocuSign Investment

Visa has made a strategic investment in DocuSign to enable customers to prepare, execute and manage digital transactions and integrated payments safely and securely. DocuSign Global Standard for Digital Transaction Management™, automates manual, paper-based processes with the only open, independent, standards-based DTM platform for managing all aspects of documented business transactions. DocuSign helps companies Keep Business Digital™ with industry-leading identity management, authentication, eSignature, forms/data collection, collaboration, workflow automation, payment collection, and document retention. DocuSign accelerates transactions on a secure global network for sending, signing, tracking, and storing documents in the cloud.

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TSYS Appoints NetSpend VP

Chuck Harris has been named senior executive vice president of TSYS and will continue to serve as president of NetSpend. Harris joined NetSpend as president in July, 2010, with responsibility for the partner, direct and corporate paycard lines of business, as well as the company’s products, technology and operations. Harris joined NetSpend from Intuit where he had served as general manager of the company’s payment solutions division. Prior to Intuit, he served as chief executive officer, president and chief operating officer of Electronic Clearing House (ECHO), an electronic payment solutions provider that was acquired by Intuit in 2007. Earlier in his career, Harris also served with Paymentech and its Merchant Link subsidiary.

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MasterPass in South Africa

South Africans will now benefit from a more seamless, speedy and secure online shopping checkout with the launch of the innovative MasterCard digital service, MasterPass™. MasterPass enables consumers to make convenient, simple, fast and secure digital payments. Digital wallets accessible through the MasterPass acceptance network allow consumers to store all their MasterCard or other branded credit, debit or cheque card information, and shipping and billing address details securely in one place. This gives them the ability to make secure online payments without the repeated hassle of entering these details each time.

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First Data Forges Major Partnership at GiGse

First Data has attracted an industry leading team of partners that will collaborate to bring ease and convenience to the complex and growing legalized online and offline gambling and gaming market in the U.S. and abroad. PayLucky Solutions offer an innovative package of comprehensive payment services, all in one place and all from one source. Proven solutions include check, debit and credit processing with emphasis on protecting operators by qualifying players and guaranteeing player funds through third party validation and analysis on individual spending habits. The Global Interactive Gaming Summit and Expo (GiGse), First Data and its partners are poised to deliver the much-needed solutions to the gambling and gaming industry. First Data partnered CAMS (Central Account Management Systems), CrossPay Services, FEXCO, Global Cash Access, NRT Technology and Secure Trading Inc.

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