MasterCard in Africa Advances Financial Inclusion

Ajay Banga, President and CEO of MasterCard Worldwide affirmed the company’s commitment to extending financial inclusion across Africa. Collaborating with local government officials, financial institutions, businesses and citizens, he shared his thoughts on a cashless society and vision of a world beyond cash. Banga addressed Central Bank of Nigeria (CBN) officials and other business leaders, acknowledging CBN’s Cashless Policy as the driving force behind the reform in the country’s electronic payments sector over the past two years. He also attended a signing ceremony in Nairobi, Kenya to announce an agreement between MasterCard and Equity Bank of Kenya to issue five million MasterCard-branded debit and prepaid cards. By 2013, 15 million grants will be given to 10 million recipients, mostly those who are unbanked, Resulting in $375 million savings by SASSA on operational costs alone.

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Azimo Secures Expansion Funding

Azimo remittance announced angel investment of GBP300,000 to expand its operations from a number of high net worth individuals. Serial banking disruptor Cooper played a key part in revolutionising how credit cards are issued in the UK at Capital One, where he led the UK section of the business from start-up to two million customers, generating revenues of over £275m and employing over 2,000 people. Azimo’s service lets users transfer money to more than 125 territories around the world for a minimal charge – usually around 1-2% of the transaction. Users will see exactly how much the recipient will actually receive before the money is sent.

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American Express Q4 Net Income Down 47% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express reported 4Q net income of $637 million, down 47% from the year ago figure of $1.2 billion. Net income from the quarter included the restructuring charge, rewards expense and cardmember reimbursements that were announced last week. Consolidated total revenues net of interest expense were $8.1 billion, up 5% from…

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Onebip Intros Recurring Payment Android Platform

Onebip mobile payments service from Neomobile launched its subscription payment service for Android devices, having released its first subscription service in 2005 and has successfully managed recurring payments for top global online dating and networking sites since 2008. To celebrate this milestone, Onebip has further enhanced its offering by introducing Onebip Android in-app for subscription payments. Onebip has successfully helped merchants worldwide build their user base and monetize by optimising the opt-in user experience and recurring billing technology. Onebip’s Subscription payments allows online dating, social networking and gaming merchants and is available in more than 70 countries worldwide.

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EVO Payments Appoints New CFO

EVO Payments International announced Kevin M. Hodges is new its CFO, where he will be responsible for the company’s expanding global financial operations. He will oversee Finance, Accounting, Treasury, Tax, Human Resources, and Corporate Communications. He previously held various senior financial leadership positions at Global Payments Inc. and worked at Deloitte & Touche. Hodges holds the Chartered Financial Analyst designation and is a CPA.

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VocaLink Announces Senior Appointments

VocaLink payment provider announced Nick Millar joins as Strategy and Customer Insight Director, Jim Wadsworth as Product Development Director and Phil Harrison as Commercial Director, Alternative Payments. With 20 years’ experience, Millar joins VocaLink from Visa Europe, where he was Head of Strategy. In his new role, Nick will lead the Strategy and Customer Insight team, developing VocaLink’s corporate strategy to maximise the value of core infrastructure capabilities and support emerging payment models. Wadsworth brings over twenty years’ experience working with market leaders in the payments sector and joins VocaLink from Accourt, where he led its mobile and digital payments practice and advised a wide range of international clients. Harrison joins the company from Clairmail Mobile Solutions where he was Managing Director for EMEA, bringing with him more than 25 years’ experience in retail banking and payment technologies.

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SelectCore Introduces Online Bill Payment Solution

SelectCore prepaid payment solutions launched its new online bill payment service, designed to allow consumers to pay their bills quickly and easily with their prepaid stored-value card account. SelectCore is now opening up a new market for online bill payment, bringing this valuable financial tool to underbanked consumers who do not have access to traditional banking. Cardholders including government beneficiaries will be able to safely and conveniently pay their bills any time of day from anywhere online. The service supports online payments to thousands of payees including utility companies, cable providers, telecom carriers, landlords and more.

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Credit Agricole Deploys Ingenico Contactless Technology

Crédit Agricole is the first bank in Portugal to use contactless payment technology, having incorporated Ingenico technology into its cards and is in the process of renewing its payment terminals. Some 200,000 contactless cards have been issued and 1,500 Ingenico payment terminals have been installed as part of the first phase of the project to reach 600,000 contactless cards and 5,500 terminals by the end of 1Q/13. Users will now be able to perform small transaction by holding the card up close to the payment terminal.

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FIS and ANZ Complete Core Bank Migration

FIS banking and payments technology migrated ANZ New Zealand’s core bank system onto a single FIS core platform. In 2003, ANZ acquired National Bank of New Zealand and has been running the two organisations on separate platforms since the acquisition, for which it was required to migrate away from the acquired brand and decided to consolidate onto the FIS platform in use within the National Bank of New Zealand. AU$46 billion of funds were moved, along with nearly three million customer records accounting for current deposit accounts, credit card and loan accounts.

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Card APRs Buck the Trend in January

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Average credit card APRs have held the course for the shopping season and into January at a steady 14.98% average. Slightly higher than the 14.95% average measured the year ago period, the average credit card APR has settled just below 15%. This after a nearly 0.50% jump in October and hardly…

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NCR and PayPal Partner on mPOS

NCR and PayPal partnered to integrate PayPal mobile payment options into the recently announced NCR Mobile Pay application and NCR Aloha Online Ordering. NCR Mobile Pay enables restaurant patrons with a smartphone to browse their bill, re-order menu items, alert their server, complete surveys and pay. PayPal appears as a payment option and allows consumers greater choice for secure payments alongside credit or debit card options. Consumers will also be able to use the PayPal mobile application to locate and “check in” at participating NCR Mobile Pay merchants to access the same functionality. Also PayPal integration gives C-Go users another easy option for paying at the pump or inside stores with their smartphone while also providing stores with valuable opportunities for targeted up selling and promotions. NCR and PayPal plan to enhance NCR’s Netkey Endless Aisle application with PayPal integration to speed up the consumer checkout process for consumers using the solution for online shopping and to integrate NCR’s Advanced Marketing Solution (AMS) loyalty and offer management system with the PayPal digital wallet.

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