Costco Renews Cardtronics ATM Services Contract

Cardtronics announced that Costco Wholesale has renewed the company as a key provider of ATM services in the United States, adding a long-term contract extension to a relationship established in 2005. The world’s largest retail ATM owner, Cardtronics owns and operates more than 450 ATMs located in Costco membership warehouses spread across 39 states today, and has expansion rights for future Costco locations. With the recent expansion of Cardtronics’ ATM branding program to include both Principal Branding and Preferred Branding, all 450 ATMs are once again available to interested financial institutions.

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Lamassu Accepting Pre-orders on Bitcoin ATMs

Lamassu Bitcoin ATMs have opened their website for pre-orders. Preliminary production run had been funded with orders paid in Bitcoin, which expects the preliminary run of 15 units to ship in September and the remainder of the pre-orders to ship by the end of the year. Lamassu’s cash-to-Bitcoin device has garnered substantial media attention over the past months, including pieces in the Wall Street Journal, CNBC, TechCrunch, the BBC, the Financial Times, Mashable and Bloomberg.

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MasterCard Issues Prepaids for Social Grant Beneficiaries

MasterCard and the South African Social Security Agency (SASSA) announced that there are 10 million active SASSA Debit MasterCard cards in South Africa, following the introduction of the new biometric grant payment disbursement system that commenced in March 2012. This milestone marks the conclusion of the re-registration phase of the project, with social grant beneficiaries having received their new Debit MasterCard cards with biometric functionality, issued by Grindrod Bank in association with SASSA and Net1 UEPS Technologies (Net1). Since March 2012, just under 22 million social grant beneficiaries1 have re-registered onto the new system introduced by SASSA to minimise fraudulent grant applications and collections and reduce grant administration costs by distributing all grant payments electronically. A crucial feature of the SASSA card’s biometric functionality is that it positively identifies social grant recipients using unique identifiers such as fingerprints, voice and other personal information, which means that the SASSA cards cannot be used by any person other than the approved beneficiary to collect his/her grant.

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Australian PSPs to Deploy MasterCard MasterPass

At the Online Retailers Conference and E-commerce Expo MasterCard announced a key milestone in the evolution of its digital payment service, with 16 of Australia’s leading payment service providers confirming they will introduce MasterPass across their customer base. A huge step in the evolution of digital payments, this roll-out will grant thousands of Australian merchants across different e-commerce categories the option to opt in for the MasterPass button, giving their customers the ability to purchase items swiftly, easily and securely online. Australian consumers will have the ability to make a payment from wherever, and whenever they want, with leading providers such as; Advam, ANZ, Ashop, BuyReply, Card Access Services, Commonwealth Bank, Ctel, EstarOnline, eWAY, IP Payments, Merchant Warrior, NAB, NoQ, Paycorp, Payment Express and Powerfront agreeing to integrate with the MasterCard scheme. This will enable more online and multi-channel retailers to have the tools to take full advantage of the growing online and mobile commerce market.

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Credit Outstanding Up 7.5% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit up a staggering 7.5% in June from last year to an adjusted $857B, it continued to erase all positive momentum seen in 2013. The second highest outstanding total of the year, June revolving credit outstanding is still not as high as the year…

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TSYS and FICO Integrate Fraud Management

TSYS and FICO software integrated FICO’s latest version of its fraud management solution, “FICO Falcon Fraud Manager 6” with TSYS’ “PRIME” card and merchant management solution. This extension to TSYS’ global strategic alliance with FICO will enable TSYS to offer the Falcon Fraud Manager solution as a hosted service to its licensing clients around the globe. TSYS and FICO’s integrated solution is being successfully utilised by EnterCard, a Nordic-based TSYS PRIME client since 1999. The integrated Falcon solution manages fraud by examining the behavioural aspects of cardholder activity, using advanced analytic models to provide real-time decisions. Combining best-in-class neural network models with merchant profiles, the solution even goes one step further detecting fraud by using adaptive models that change as global fraud patterns migrate.

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Virtual Piggy Increases Gaming Industry Presence

Virtual Piggy youth payments will provide its youth-friendly payment system to Marvelous USA, the US-based publishing operation of MarvelousAQL. Its two divisions, XSEED Games and Marvelous Online, release games that are available on the Xbox 360® games and entertainment system from Microsoft, PlayStation®3computer entertainment system, PlayStation®Vita, Nintendo 3DS™ hand-held system, Wii™ and mobile platforms among others. Marvelous USA’s titles include Ninja Warrior, Cross Horizon, Shin Megami Tensei Imagine and Pandora Saga. Virtual Piggy technology serves as a family wallet that is available online or via mobile, and is always 100% free to use.

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MasterCard Launches New Priceless Campaign

MasterCard is launching Priceless Aruba, in partnership with the Ministry of Tourism and the Tourism Authority of Aruba. Aruba is the fifth city in the Caribbean to join MasterCard’s Priceless Cities program. The program offers MasterCard cardholders extraordinary experiences, exclusive offers and privileged access in their home city and cities around the world to not only make MasterCard their top of wallet choice but also bring a little more priceless to their life. Through MasterCard’s innovative Priceless Aruba program, cardholders will receive offers and discounts on products and services at over 30 participating merchants when making a purchase with their MasterCard®. Cardholders can access the complete list of offers and benefits at www.pricelesscities.com, or through printed guides distributed at high traffic areas like the Aruba airport, as well as at participating shops, restaurants and hotels.

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Sysnet Appoints EVP, Strategy

Sysnet Global Solutions, a leading provider of Payment Card Industry (PCI) compliance management services specialising in PCI DSS and merchant intelligence solutions, announced that it has appointed Branden Williams as EVP Strategy, with ownership of global sales and marketing. Branden has over fifteen years of experience in technology and information security with a formidable background in the majority of the technologies that drive today’s businesses. After spending the first several years of his career working with education institutions and internet service providers to secure their infrastructures, Branden co-founded an IT consulting business that was later sold to a venture capitalist. Branden holds a Masters of Business Administration from the University of Dallas and is a current doctoral candidate in business intelligence at Capella University.

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BPC SmartVista Aces Testing

BPC Banking Technologies, the leading provider of Open System payment solutions for the global financial industry, reports on the successful completion of set of audited performance and availability tests for SmartVista. The tests were conducted at the IBM Systems Solution Centre Labs in Bangalore, and were audited by KPMG. During the test, BPC’s switch solution, delivered peak performance of 2,932 TPS (transactions per second) with 40% server utilization, demonstrating that the configuration had ample capacity for growth. The tests were designed to replicate real-world situations, operating under very high transaction loads. These outstanding results prove that SmartVista can support the volumes generated by extremely large ATM networks, as 2,932 TPS equates to an ATM network with more than 520,000 ATMs carrying out 10.5 million transactions an hour. During the 2 hour stress test, SmartVista sustained an average of 1,875 TPS, which equates to an ATM network with more than 330,000 ATMs operating at full capacity.

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Pay.on Incorporates P4 Solutions Sepa Payment

Pay.on, leading global operator of Web-based, multichannel payment infrastructure services, has integrated the SEPA direct-debit payment process from P4 Solutions into its global payment network. The PAY.ON platforms have supported SEPA payment processing already for some time, but by integrating P4 Solutions, a further SEPA direct debit payment process solution is now available to PAY.ON clients. PAY.ON clients are thus already well positioned for SEPA. This affords their merchants enough time for the technical implementation by 1 February 2014 and to actively prepare their end customers for the SEPA payment process. By means of the PAY.ON API, PSPs, ISOs and financial institutions have access to around 300 payment providers in total, including more than 100 payment types.

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MasterCard Names VP, Global Products & Solutions

MasterCard appointed Ezediashi Ofili VP, Business Leader to drive the growth of its Prepaid Business in sub-Saharan Africa. He will also oversee MasterCard’s Global Products and Solutions team in the region. With more than twenty years’ experience in the banking, energy, Information Technology and credit rating sectors in both Africa and Europe, Mr. Ofili has played a key role in several major projects most recently the launch of the Nigeria National Identity Card project. MasterCard is seeking to expand its prepaid product offering in the region and has partnered with several financial institutions to drive this strategy. Mr. Ofili is a qualified Petroleum Engineer from the University of Ibadan, and is also a Microsoft Certified Engineer and Project Management Professional with PRINCE2® certification. In addition to that he holds a Master’s degree in Business Administration – Strategic Management of Technology – from Cass Business School in London.

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