Lafayette Dept Store Deploys VeriFone Payment Solution

VeriFone Systems announced a 5 year comprehensive payment solutions and services contract with Galeries Lafayette department store chain. With this, Verifone will provide managed services, software, helpdesk and 3,200 “VX 820” advanced PIN acceptance devices that support credit, debit and EMV transactions to the chain store. Centric on Verifone “PAYware Wynid” end-to-end managed services platform, the partnership furnishes cross-border payments from the retailer’s international operation, along with encryption and tokenization services for a secure payments environment.

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SwiftReady Commends Fundtech Service Bureau

Fundtech global transaction banking solutions announced its service bureau has been awarded the SwiftReady Connectivity (Best Practice) Label by SWIFT. This recognizes the company as ‘best-in-class’ shared connectivity providers after having demonstrated its proficiency to meet operational requirements by undergoing a detailed on-site inspection and audit of their SWIFT infrastructure and premises by qualified SWIFT personnel. Moreover, its “SWIFTReady” connectivity label recognizes providers that meet higher standards of resiliency and security.

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Outstanding Revolving Quarterly Credit Stagnates

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit having jumped 1.1% in November- its first decrease in two months- it was down 5.1% in December thanks in great part to the busy holiday shopping season. However, when compared with 4Q/11, consumer credit was up 6.5% in 4Q/12 and was up 6.25%…

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Fiserv Fraud Prevention Solution Awarded Top Rating

Fiserv financial services technology announced that its Financial Crime Risk Management (FCRM) platform has been awarded a “Best-in-Class” rating in the Enterprise Support category in the CEB TowerGroup 2012 Anti-Money Laundering Technology Review. The FCRM platform also received high marks for front-end usability and back-end configurability. The report highlighted that CEB TowerGroup analysts were impressed by the layout of the interface, which facilitates streamlined workflow management. Fiserv was also highly ranked in the Detection Tools category, where the combination of behavioral profiling and analytics-based approaches in combination with flexible rules to identify potential money laundering behavior were highlighted as key strengths.

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Renters can Now Improve Credit Score with Payment History

Tenants who rent their homes can now get financing credit for their on-time rental payments, including millions in a variety of lending opportunities, with Rental Kharma. Rental Kharma furnishes data to large credit bureaus and launched this new service to make it possible for renters to overcome this barrier. There are more than 100 million renters in the U.S., and Rental Kharma has developed its comprehensive, online platform for renters, letting them build their credit score by self-reporting the last two years of their payment history. The data is then provided to the large credit bureaus.

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Wells Fargo Intros Redesigned ATM Interface & Features

Wells Fargo redesigned its ATMs with a layout featuring ease of use and a modern design. With the upgrades now available on more than 500 machines across several states, the new interface will launch at all the more than 12,000 Wells Fargo ATMs by May. A “Balance Dashboard” features balances at-a-glance, if the customer chooses, for their most used accounts while the ATM “Cash Tracker” tool helps customers manage their finances and automatically appears on the main ATM screen. This feature allows customers to visually track their monthly Wells Fargo ATM withdrawals. Customers can also set a monthly withdrawal target and can view details about how much they withdrew the prior month and their average over the past 12 months.

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Inside Secure Launches Secure NFC Solution

Inside Secure launched the all-in-one “ComboPulse” secure NFC system-in-package (SiP). This makes it easy to add NFC functionality into smart mobile devices. Combining INSIDE “PicoPulse” NFC RF front end “booster” chip, an INSIDE “VaultSEcure” secure element with Java Card OS, an antenna and all passive components in a tiny DFN8 package, the “ComboPulse” SiP requires no additional hardware, no external antenna and no tuning to add best-in-class NFC card emulation and peer-to-peer functions to mobile products at a fraction of the cost and time of traditional NFC solutions. The NFC card emulation capability provided by the ComboPulse SiP allows the mobile device to be used like a contactless smart card to communicate with standard contactless POS and other terminals to make purchases, validate tickets and coupons, accumulate loyalty points and perform banking and other secure transactions.

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VocaLink Draws Attention to ePayment Methods

VocaLink indicates a growing consumer appetite for alternative ways to pay on mobile devices. With 81% of those interested in new digital payment more likely to adopt such services if they are provided by their bank, independent research undertaken by Accord on behalf of VocaLink also shows 33% of smartphone owners in the UK have used them to shop online. Additional findings indicate 42% of smartphone owners have used them for online banking; 43% of tablet owners in the UK have used them to shop online; and 33% of tablet owners have used them for online banking.

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Visa, Gemalto Partner to Launch Payment App

CaixaBank, Gemalto, Telefónica and Visa Europe are set to deliver a payments application which will be offered to 3,500 delegates at Mobile World Congress on February 25-28th. The app, developed by Telefónica Digital, will allow delegates to make mobile contactless payments using a pre-paid card especially developed for mobile payments, which has been enabled to work with Visa’s contactless payment technology. The card is issued by MoneyToPay, the new subsidiary for the prepaid business created by CaixaBank.

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China Debit Card Circulation Growth Slows in 2012

Debit card in circulation growth rates slowed down in 2012 after years of rapid expansion over the review period. Posting a circulation growth of 12% in 2012, debit cards showed a significantly lower rate of growth than the 22% recorded in 2011. Euromonitor International’s Debit Transactions in China report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

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ITPS Gets Stake in Intelligent Payments

Intelligent Payments Group gateway services for EU merchants, announced that International Transaction Payment Solutions (ITPS) payment and consulting group, together with the Executive Management of Intelligent Payments, have acquired a majority interest in the company from existing shareholders, Newcote International (Newcote). Newcote is the founder shareholder of Intelligent Payments and owner of Victor Chandler International, internationally known and respected leader in the gaming sector.

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Agent Card Programs – 2012 Performance

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] One of the ways for card issuers to augment their organic/branch card sales growth is to offer agent card programs to other, usually smaller, financial institutions. The sponsoring organization provides the card expertise and management and card member service while the agent institution generates new applicant/card accounts. Agents are often selected…

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