PSCU, MasterCard Team Offer Payment Option

PSCU will offer the Mastercard “MasterPass” digital payment service to the CUSO’s nearly 700 Member-Owner credit unions, allowing shoppers to more conveniently and securely perform transactions during checkout. The “MasterPass” provides online shoppers a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase. PSCU’s future implementation phases of MasterPass may allow consumers to go beyond plastic and use an enabled device for in-store purchase transactions. Lake Trust Credit Union (Lansing, MI) has joined PSCU as a participant in testing the new digital solution.

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MasterCard Deploys New Digital Payment Platform

MasterCard launched its “MasterPass” ‘future of digital payments,’ offering consumers a digital service to use any payment card or enabled device to discover enhanced shopping experiences. An expansion of “PayPass Wallet Services,” “MasterPass was announced Spring of 2012 and offers checkout services to provide merchants a consistent way to accept electronic payments regardless of where the consumer may be. For in-store scenarios either at the register or in the aisle, MasterPass will support the use of NFC, QR codes, tags and mobile devices used at points of sale. It provides shoppers a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase. Consumers can securely store card information, address books and more in a secure cloud, hosted by an entity they trust.

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Oberthur and Smart Catch Provide NFC Deployments

Oberthur Technologies security and identification solutions is now collaborating with Smart Catch International digital security service provider to offer its Trusted Service Management (TSM) services with mobile operators. Oberthur Technologies’ complete NFC offer including TSM, NFC SIM cards, mobile applications and more, already boasts several years of extensive research, development, trials and commercial launches. The NFC solutions are already deployed in over 20 countries worldwide with over 30 TSM references. Building on this expertise, Oberthur Technologies will assist Smart Catch International in delivering complete TSM functionalities to Taiwanese mobile operators and services providers, for secure deployment and management of NFC services.

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Monitise Triples Transaction Values

Monitise mobile banking, payments and commerce networks tripled the value of payments and transfers over its technology platform, live transactions and registered users in the last year, reaching an all-time high for the company in each category. The value of payments and transfers initiated via the Monitise Enterprise Platform is now more than $31bn on an annualized basis, compared with $10bn a year ago. The global Mobile Money business is handling 2bn transactions on an annualized basis, compared with 0.48bn in February 2012, underpinned by registered customers climbing to 20m from 6m in January 2012. North America is a significant market for Monitise with 10m direct registered end users. Monitise’s expertise in customizing mobile applications across a broad range of phone models and operating systems enables Visa to virtualize its existing accounts on mobile phones and offer Visa account holders globally a new array of payment types. V.me, Visa’s new wallet service for example, has been designed to take the friction out of commerce and is supported by Monitise.

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Oberthur Technologies Expands NFC Solution

Oberthur Technologies has been selected by Advanced Info Service telecom operator to provide “MIFARE DESFire” secure, contactless technology embedded in an NFC SIM card. The NFC SIM card with embedded MIFARE DESFire™ technology, DragonFly, is being launched for the first time in Asia with AIS, and will enable a mobile phone to be used as an e-purse to pay for public transportation and goods in Bangkok. Service users can also directly top-up credit on their SIM card and check both their balance and transaction history using their mobile phones. This new generation of NFC SIM card, boasts increased speed, security and convenience as well as best-in-class certifications and an integrated anti-virus. The dragonFly also allows rich applications to be embarked on the SIM.

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ONE METRIC CARD ISSUERS JUST DON’T GET RIGHT – “R&D SPEND”

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] R.K. Hammer Founder and CEO Bob Hammer commented “In over three decades in the card business, and having read an estimated 67,000 card financial statements during that period, I have seen very few card financials that displayed R&D spending as a separate line item. That’s a problem, as we see it.”…

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VeriFone and MasterCard Partner, Launch POS Service

VeriFone Systems and MasterCard partnered to implement the MasterCard “MasterPass” service at the POS. As a cloud-based payment option now within VeriFone’s “GlobalBay” mPOS and “GlobalBay Clienteling” applications, “MasterPass” allows shoppers to access their MasterPass wallet accounts to pay from anywhere in the store on mobile devices on GlobalBay software. VeriFone’s “GlobalBay” mPOS application helps retailers improve the overall customer experience by enabling them to arm associates with mobile devices to scan items, apply coupons and discounts, and complete transactions from any location in the store. The GlobalBay Clienteling application helps build more personal and profitable customer relationships by enabling associates to record consumer preferences and buying habits, and leverage customer data for promotions and cross-selling.

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Huntington Bank Launches Spartans Debit Card

Huntington Bank and Michigan State University Athletics launched the Spartans branded debit card, providing fans who sign up for a Huntington Bank checking account debit card to show their loyalty. The Spartans debit card bears Michigan State University’s Spartan helmet graphic and the Michigan State University athletics wordmark. The debit card can be linked to any of Huntington’s consumer checking accounts including the popular Asterisk-Free Checking®, a checking account without a monthly checking maintenance fee that offers 24-Hour Grace® to help customers avoid overdraft fees. The Spartans debit card launches as Huntington expands into the Lansing area via partnership with Meijer, creating eight in-store branches serving greater Lansing by the end of 2013.

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AmEx Announces Board Member

American Express elected Samuel J. Palmisano to its board of directors. Formerly chairman, president and chief executive officer of IBM from 2003 to 2011, Palmisano was also chairman of the board from January through September 2012 and continued as senior adviser to IBM until his retirement, by which IBM achieved record financial performance, transformed itself into a globally integrated enterprise and introduced its Smarter Planet agenda. Palmisano is a member of the board of directors of Exxon Mobil Corporation and a graduate of The Johns Hopkins University. He holds an Honorary Degree of Doctor of Humane Letters from Johns Hopkins University in 2012 and from Rensselaer Polytechnic Institute in 2005. In 2006, he was awarded an Honorary Fellowship from the London Business School. He is also an elected member of the American Academy of Arts and Sciences and served as co-chair of the Council on Competitiveness’s National Innovation Initiative.

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American Express Elects New Board Member

American Express appointed Anne Lauvergeon to its board of directors. Also a partner and managing director of Efficiency Capital, an investment firm that focuses on energy, technologies, and natural resources, and chairman and CEO of A.L.P. SAS, an advisory company, Lauvergeon is a member of the board of directors of Total S.A. and Vodafone Plc. She is a graduate of the École Normale Supérieure and the French National School of Mining Engineer and was awarded an honorary doctorate by London’s Imperial College. She is also a fellow of the Royal Academy of Engineering as well as the Royal Academy of Belgium.

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Higher One Expands Nationwide ATM Access

Higher One partnered Allpoint Network of Cardtronics, allowing OneAccount Premier cardholders free ATM access to 38,000 Allpoint ATMs. This expands Higher One’s national ATM network and will allow OneAccount Premier cardholders to conduct standard ATM transactions, including withdrawals and statement balance inquiries, free of charge at any Allpoint Network ATM in the United States. College students are eligible for the OneAccount Premier checking account, featuring no monthly fee with $300 in monthly direct deposit; reimbursement for one non-Higher One ATM or non-Allpoint ATM transaction per month; upgraded cash back rewards in the OneRewards program; and access to interactive “Bud-jet” budgeting tool.

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FBC Bank Globally Expands MasterCard

FBC Bank Limited announced that they are introducing the MasterCard Prepaid card to members of the Zimbabwean Association of Chartered Certified Accountants (ACCA). The FBC-ACCA MasterCard Prepaid card will provide Zimbabwean accounting professionals with the ability to transact safer, easier and more conveniently, by introducing an innovative electronic payment solution, thus removing the need for cash. ACCA members do not require a bank account to apply for the prepaid card, and will be able to pay tuition and exam fees, monitor their balances, track spending and download statements via the FBC Bank online portal.

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