PayLane Officially a Payment Institution

PayLane is officially a Payment Institution. It has been unanimously announced by the Polish Financial Supervision Authority, which is according the Payment Services Directive a competent authority of the host Member State. Obtaining the status of a Payment Institution was possible due to the Payment Services Directive (PSD, 2007/64/EC), a regulatory initiative of the European Commission. The directive regulates payment services and payment providers throughout the European Union and European Economic Area. What is important, this directive increases the competition in the payment industry, making non-banks almost on a par with regular banks. It also harmonizes consumer protection. Payment Institutions can receive deposits and make cash payments from a payment account, execute payment transactions, direct debits and credit transfers, and issue such payment instruments as credit cards.

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Former Misys Execs Intro PFM Service

Moneythor is announcing its new personal finance service and underlying banking software components at Echelon 2013, Asia’s largest tech conference. The new solution is designed to help consumers better monitor their finances with secure, nonintrusive and proactive financial management functionality straight into their online banking sites. It also enables banks to significantly enhance their existing online services with no disruption. The solution is easily implemented into their infrastructure and will improve their customer insights and open up new revenue streams. Roll-out to other countries in the South-East Asia region as well as availability of additional components built for financial institutions is planned for later in the year.

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Citi Commercial Cards Deploys Mobile Account Management

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citi Commercial Cards has rolled-out CitiManager Mobile, a mobile-optimized version of the CitiManager desktop portal, Citi’s state-of-the- art account management tool. With the CitiManager Mobile site, Citi corporate cardholders can easily view their accounts, statements and new transactions from multiple device types, including iPhone, Windows, Android, and Blackberry. CitiManager Mobile is…

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CSR to Present on Credit Card Data Security Protection

CSR data compliance solutions and expert business services that helps organizations turn compliance into revenue, announced that Director of Consulting Services Linda Grimm will speak to attendees of the NorthEast Acquirers Association (NEAA) 2013 Summer Seminar on June 12th about the business threat of mishandling PCI and other personal data. Grimm will provide the latest news affecting merchants and their service providers in “The Future of PCI – Protecting Only Credit Card Data Isn’t Enough: How to Use Personal Data Protection Services to Improve Customer Retention and Boost Your Bottom Line” at the Hilton Hotel in East Brunswick, N.J. The NEAA provides an educational forum for financial institutions and members of the acquiring industry whose attendees will hear Grimm describe the opportunity to provide revenue-generating services their merchants need at a time of mounting pressure for federal legislation that would hold merchants accountable for data security. Class action data breach lawsuits highlight the need for all organizations to protect all personally identifiable (PII) and protected health information. By helping merchants go beyond protecting credit card data, just one type of PII, the payments community can be first to fill a need for security services that binds relationships and generates significant new revenues.

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Conestoga Expands NCR ATM Video Implementation

Conestoga Bank is expanding its interactive video banking program with NCR Corporation. Expanding on its use of interactive video tellers to conduct transactions from uGenius, which NCR purchased in January 2013, the Bank is installing two additional personal teller machines (PTMs) into their new Bankwerx. These PTMs connect bank customers to a live, remote teller via a two-way video/audio conversation over an ATM. The remote tellers have full control of ATM functions, creating an interactive experience in which customers can complete more than 95 percent of typical branch transactions and do them faster – with transaction times typically 33 percent faster than an average teller interaction.

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Virtual Piggy and MWRC Partner on Secure Youth Payments

Virtual Piggy safe youth payments will integrate its youth-friendly payment system into the MWRC ExoVend ecommerce platform.This strategic partnership gives Virtual Piggy the ability to integrate into many global and start-up merchants that fall under the MWRC umbrella, including Body Glove International, Sea Doo SeaScooters, Channel Island Surfboards, and Frankie B. The scope of the partnership spans from action sports (surf, snow, water, moto) to leading fashion brands.

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MasterCard Names Country Manager

MasterCard announced the appointment of Syed Mohammad Kamal as country manager for Bangladesh and Mohammad Anwar Hossain as director, business development to reaffirm its commitment to South Asia. The decision to build a stronger presence locally has come about in part to the rapid development and industrialization the country has been seeing over the last few years and the promise of further growth which could be achieved through a more robust electronic banking and payments system. Kamal will be based in Dhaka and report to Vikas Varma, area head, South Asia, MasterCard Worldwide. He will be tasked with executing MasterCard’s strategy in Bangladesh, working closely with partner financial institutions, merchants and regulators.

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Wirecard and payleven Ink mPayments Alliance

Wirecard AG and payleven agreed on a strategic alliance for new mobile payments technologies. payleven’s chip and PIN-card readers are primarily geared to SMEs while this partnership is based on the international expansion of M-POS. Wirecard AG is one of the world’s leading independent providers of outsourcing and white label solutions for electronic payment transactions, and will contribute its core competences to the alliance. This expertise includes both acquiring and also central process stages for mobile card reader technology: from risk and fraud management and processing services as well as certifications and licenses through to hardware development. Wirecard’s white label program for mobile card readers is geared to sales partners who can design the product with their own look and feel.

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Conference Board Index Shows Growing Confidence

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index (LEI) for the U.S. was up 0.6% in April to 95.0, following a 0.2 percent decline in last month and 3 months of steady increases prior to March. The rebound was mostly due to housing permits and the interest rate spread and, with a 3.5%…

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ACI Worldwide Announces New Banking Services Client

ACI Worldwide announced Desert Schools Federal Credit Union ($3.1 billion in assets) selected its online banking and bill payment services to enhance its technology services to over 321,000 members. The institution selected ACI’s Architect Banking for its flexibility and configurability for delivering online and mobile banking capabilities. By utilizing the Software Developers Kit (SDK), DSFCU will have the tools needed to grow its online banking application to meet the ever-changing needs of its member base, all while providing a user experience that is highly intuitive and personalized. ACI’s Electronic Biller Directory and proprietary Real-time Digital Scanline technology maximizes payment accuracy for both DSFCU and its members, resulting in faster payment delivery and fewer payment errors.

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TSYS Inks Extended Payments Agreement Partner

TSYS announced that it has signed a long-term payments agreement with KeyBank to provide payment processing for the bank’s consumer credit card portfolio. KeyBank made the strategic decision to bolster its payments business last year and begin self-issuing credit cards. At that time, Key purchased a $725 million Key-branded credit card portfolio from Elan Financial Services. KeyBank has selected TSYS’ TS2 platform to convert the portfolio and issue new cards going forward. In addition, KeyBank has contracted with TSYS to provide fraud prevention and risk management services to bank clients. TSYS’ past success with KeyBank involved a smaller portfolio acquisition conversion to the TSYS Program Solutions (TPS) platform in 2012.

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Gemalto Introduces Micro-banking Technology

Gemalto is providing its smart card based solution to Dipon Consultancy Services Limited (DCSL) for their financial inclusion project. DCSL has deployed DG-ePay (Dipon Group-ePay) Service Points at major public places throughout the country. End users can enroll themselves and open an account at any of the DG-ePay Service Points. The Gemalto smart cards contain an embedded software application that securely stores the holder’s facial image and fingerprint data captured upon enrollment. End user transactions are validated using biometric authentication, providing a superior level of convenience and security to all, including illiterate users. The Gemalto solution facilitates daily life financial services, such as account opening, deposit, withdrawal, transfer, loan repayment and remittances. DCSL has already delivered 200,000 cards to end users.

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