ACI Completes Acquistion

ACI Worldwide announced it has completed the acquisition of Official Payments Holdings, Inc., a leading provider of electronic bill payment solutions. Under the terms of the agreement, ACI Worldwide acquired Official Payments in an all-cash transaction for $8.35 per share. Official Payments currently has more than 3,000 customers representing access to over 100 million end users. The company processes approximately 20 million payments and over $9 billion in volume annually.

Details

Bank Better Initiative

BS Citizens Financial Group, Inc. announced the launch of Bank Better, a company-wide program to make banking simple, clear and personal for Citizens Bank and Charter One customers. Bank Better launches with a signature approach to overdrafts — no overdraft fee for transactions of $5 or less – and several other significant updates to the bank’s offerings.This feature applies to an unlimited number of transactions of $5 or less. Replacement of a tiered system of overdraft fees with a simple flat fee of $35 per item for overdrafts and returned items greater than $5. There are no changes to Sustained Overdraft Fees, which apply when an account is overdrawn by any amount, for three or more consecutive days. Complete overdraft policies will be available online starting November 8 when the simplified policies take effect.

Details

MultiSIM Smart Card

All in one SIM card released by Oberthur Technologies Friday improves flexibility at warehouses and point-of-sale. The card contains the first classic 2FF, micro 3FF and nano 4FF all in one card. It is a key progress on the telecom market as it dramatically improves the user-friendliness of the SIM card. Concretely, it means that the same SIM card can be used in any mobile phone. If end-users want to change from one form factor to another, they do not need to ask their operator for a new SIM card but can just deplug or replug their MultiSIM.

Details

Post Office Launches SME Card Payment Service

The Post Office has launched a new card payment service to help sole traders and small businesses accept card payments from their customers, in partnership with WorldPay payment processing. This allows small businesses a range of ways to take secure card payments made in-store, online, via mail or telephone order, or on the move – just by visiting their local Post Office. New WorldPay research has revealed that 87% of customers are likely to spend more money per transaction when paying with a debit or credit card, as opposed to cash. And in the last year, one in five (20%) UK consumers has had to abandon a purchase due to a small business or sole trader not accepting cards or because they weren’t carrying enough cash to pay*. Now small business owners will be able to easily sign up to take cards so they never miss a sale again.

Details

PCI Data Security Standard

The PCI Security Standards Council (PCI SSC) published version 3.0 of the PCI Data Security Standard (PCI DSS) and Payment Application Data Security Standard (PA-DSS). Available now on the PCI SSC website, version 3.0 becomes effective on 01 January 2014. Version 2.0 will remain active until 31 December 2014 to ensure adequate time for organizations to make the transition. Changes are made to the standards every three years, based on feedback from the Council’s global constituents per the PCI DSS and PA-DSS development lifecycle and in response to market needs. Proposed changes for version 3.0 were shared publicly in August, and Participating Organizations and assessors had the opportunity to discuss the draft standards at the 2013 Community Meetings prior to final publication.

Details

NFC Reference Guide

The NFC Forum announced the publication of the “NFC Reference Guide for Air Travel.” The new, comprehensive reference guide is available at no charge from the NFC Forum’s website. Potential uses of NFC technology for air travel that save time for passengers and streamline operations for airlines and other businesses include: NFC use for secure provision, storage, and reading of boarding passes on mobile devices; NFC on a mobile device to enable “tap-and-go” access to elite lounges; Airlines and airports using NFC to provide (and cancel) access to secured areas to staff via their mobile devices; NFC tags coded and embedded in luggage tags to quickly access baggage information and better track bags’ progress; Travelers tapping their NFC-enabled devices to enter a parking garage, pay at exit, or store parking details for later reference; NFC’s well-established payment applications for purchases in airport shops, and even on board the aircraft.

Details

American Express Partners Emirates

American Express welcomes Emirates Skywards to the industry-leading Membership Rewards program, letting members transfer points into the Emirates Skywards program and redeem Skywards Miles for travel on one of the world’s leading airlines. To celebrate the relationship, American Express and Emirates will offer a limited time transfer bonus. Eligible Card Members in the U.S, U.K and France who transfer points to Emirates Skywards between November 8 and 21 will receive a 25% bonus. During this promotion, eligible Card Members can transfer as few as 60,000 Membership Rewards points to Emirates Skywards and book an Economy Class return ticket on Emirates between JFK and Dubai.*Reward flights are available to over 136 destinations on the Emirates network.

Details

Fiserv Names Group President, Depository Institution Services

Fiserv named Byron C. Vielehr group president of its Depository Institution Services group to oversee the Company account processing businesses, which serve banks, thrifts and credit unions. Bringing more than 25 years of technology and financial services experience to Fiserv, he most recently served as President of International and Global Operations for Dun & Bradstreet as Chief Information Officer in 2005 and then in leadership of its North American business, Global Risk Management Solutions, and D&B Sales and Marketing Solutions. Vielehr holds a master’s degree from The Wharton School of the University of Pennsylvania and a bachelor’s degree from Drexel University.

Details

The Unique Concept of Shared Branching

With the “credit union movement” offering service to members of individual credit unions nationwide. CO-OP ATM, managed on behalf of 3,500 client credit unions by CO-OP Financial Services, is a network of 30,000 ATMs across the country. members (customers) of participating credit unions to access their accounts without incurring a surcharge fee. At 30,000 ATMs, the credit union network is larger than the biggest dedicated bank network. These ATMs can not only be found on the premises of credit union branches, but in thousands of retail locations such as 7-Eleven, Walgreens and Costco. Credit union members can easily find out if their credit union belongs to CO-OP ATM by visiting www.allco-op.org. Or, if they have a debit card from their institution, they can simply turn over the card, and they will more than likely discover the red triangle logo of the network.

Details

PCI Council Publishes PCI DSS and PA-DSS Version 3.0

The PCI Security Standards Council (PCI SSC), an open, global forum for the development of payment card security standards, published version 3.0 of the PCI Data Security Standard (PCI DSS) and Payment Application Data Security Standard (PA-DSS). Available now on the PCI SSC website, version 3.0 becomes effective on 01 January 2014. Version 2.0 will remain active until 31 December 2014 to ensure adequate time for organizations to make the transition. Changes are made to the standards every three years, based on feedback from the Council’s global constituents per the PCI DSS and PA-DSS development lifecycle and in response to market needs. Proposed changes for version 3.0 were shared publicly in August, and Participating Organizations and assessors had the opportunity to discuss the draft standards at the 2013 Community Meetings prior to final publication.

Details