At Mobile World Congress last week MasterCard announced a collaboration between Deutsche Telekom, Telefónica Deutschland, Vodafone and TREVICA (a MasterCard owned company) to create a new mobile platform and accelerate the development of mobile payments in Germany. The three mobile operators represent 80% of mobile customers in Germany, which means that banks and financial institutions can hugely accelerate their ability to provide mass- market mobile payment services to consumers. Instead of connecting to individual mobile operators, issuing banks can now connect to TREVICA and have access to a number of mobile operators with one single integration to the TREVICA platform.Details
Paying with “Nod To Pay” is truly frictionless. A Google Glass user activates the service with the command “OK Glass, make a payment”. Glass then scans the QR code of any Bitcoin enabled Point Of Sales (POS) application. The transaction details appear on the display of Glass. The user then only needs to nod twice to confirm the payment, making it a truly handsfree payment solution. To keep it safe, a “Nod To Pay” spending limit can easily be set, just like anyone would do with a normal wallet holding offline cash. Any transaction amount above that limit will require an additional security (PIN) code to confirm the payment.Details
Michael Mueller, co-founder and, for the last nine years, CEO of paysafecard group, has reached the decision to leave the board of the company at the end of February 2014. Udo Mueller will take over the position of CEO. Michael Mueller co-founded paysafecard group in 2000, with the aim of developing a safe and convenient prepaid method of payment for the Internet. The group, headquartered in Austria, became one of only a few leading internet and financial services companies globally, combining innovation with sustainable economic success. The company, whose main product, paysafecard, is available at 450,000 locations in 37 countries, currently employs approximately 200 employees and was acquired by the Skrill Group in 2013.Details
Saudi Investment Bank (SAIB) will better serve customers with a number of new ATMs with video technology from NCR Corporation. NCR APTRA Interactive Teller will allow customers to complete over 95 percent of typical branch transactions right at the ATM, 24 hours a day, with the assistance of a live, remote teller. Configured with ‘scalable cheques processing module’ (SCPM), NCR APTRA Interactive Teller can accept and process cheques, while also enabling the remote teller to immediately cash cheques for customers from anywhere, at any time. As part of the agreement, NCR will provide software application development, system analysis, support services and related training programs.Details
Wave Crest Group Limited, a multi-currency digital payments platform that offers full-service, global solutions, has been selected as program manager and payments technology partner for Commissions2Go’s new commission distribution solution. In the new program, commissionable agents will register with C2Go at C2GoCard.com and receive a personalized C2Go card. C2Go clients can then pay commissions to the account in real time after validation through the C2Go web portal or via a mobile interface using QR codes identifying the recipient. Card recipients can use the C2Go card anywhere major card brands are accepted, or get cash at ATMs. C2Go handles all transaction reporting and 1099s on behalf of their entertainment clients.Details
ARCONTIA INTERNATIONAL AB announced its new embedded contactless smart card reader for the Nautiz eTicket Pro II PDA. The Arcontia reader is fully integrated into Handheld’s new Nautiz eTicket Pro II PDA, offering a compact and ergonomic mobile solution for a range of ticketing applications in public transport. The combination of the contactless smart card reader and the PDA provide customers with a lean and rugged mobile device for ticket control, travel information and support workflow processes.Details
Fiserv, Inc. announced that it has been granted a patent by the United States Patent and Trademark Office for a non-sufficient funds (NSF) optimization process in its Predictive Scores(SM) solution. Predictive Scores allows financial institutions to analyze and identify the customers or members who are most likely to respond to marketing initiatives, optimizing the revenue potential of each customer or member by understanding which products and services they are most likely to buy. Through sophisticated analysis, Predictive Scores delivers highly targeted lists that improve marketing campaign results and increase the return on marketing investment.Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citi is adjusting downward its 4Q/FY/13 financial results, from those earlier reported by an estimated $235 million due to fraudulent activity through its Mexican subsidiary. This will lower Citi’s 2013 net income from $13.9 billion to $13.7 billion. Citi subsequently intends to release a revised 4Q/13 Quarterly Financial Data Supplement. As…Details
InComm, a leading prepaid product and transaction services company, has entered into an exclusive arrangement with Money Online (MOL), one of Asia’s leading online payment service providers, to launch point-of-sale-activated (POSA) gift card mall solutions in Southeast Asia. MOL is majority owned by Tan Sri Dato’ Seri Vincent Tan, founder and majority shareholder of Berjaya Corporation, one of Malaysia’s largest conglomerates, which also owns the local rights to various retail brands such as Starbucks and 7-Eleven.Details
Visa announced that it has completed technical development of a new service aimed at detecting and preventing fraud schemes that target the use of prepaid cards.
Visa’s Prepaid Clearinghouse Service (PCS) is a centralized database that allows financial institutions, processors and prepaid program managers to share prepaid card data such as enrollments, load funding, suspected fraudulent information and previously reported fraud on existing card accounts. PCS will provide critical information sharing to better identify and stop fraudulent enrollments, funding, use and other fraud schemes involving prepaid cards. Value assessments now begin with financial institutions and their program managers providing PCS with information such as enrollments, load funding, provisional credit requests, and fraudulent activity to check the database for risky activity. Reporting information into PCS will be required for all U.S. Visa-issuing financial institutions and program managers, yet PCS is capable of supporting multiple network-branded prepaid cards. All U.S. Visa prepaid issuing financial institutions and their program managers will be required to report into PCS by June 2015.
TSYS announced that it has renewed its payments agreement with Missouri-based Commerce Bank. The multi-year agreement includes renewed processing for Commerce’s consumer, commercial and retail credit card portfolios, as well as its signature debit portfolio. In addition, the agreement allows TSYS to further serve Commerce Bank by providing PIN debit services.Details
Discover card shared the top spot in the credit card category this year on the 2014 Brand Keys Customer Loyalty Engagement Index.® The index measures the degrees of loyalty that consumers exhibit toward their favorite brands. For the 2014 index, Brand Keys surveyed 32,000 consumers, ages 18 to 65, and examined 555 brands in 64 categories. Discover has held or shared the top Brand Keys ranking in its category for the past 18 consecutive years.Details