U.S. Bank Acquires FSV Payment Systems

U.S. Bank is acquiring Florida-based FSV Payment Systems prepaid card processing company for undisclosed terms. This combines U.S. Bank’s payments strength and prepaid expertise with FSV’s platform which will position the combined entity as one of the few financial institutions in the industry capable of providing efficient end-to-end prepaid programs and services for its clients. The programs and services that FSV clients currently use will continue uninterrupted through the transition, and in the future they will benefit from new developments and innovations that the combined business will provide. With this, FSV will operate under U.S. Bank’s Elan Financial Services brand.

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Precidia Certifies First Data Payments System

Precidia Technologies has certified its integrated payment solution to First Data electronic commerce and payment processing on Canadian POS software developers and vendors using Precidia’s solution to enable EMV (chip and PIN) compliant payments to connect to First Data for transaction processing. Precidia’s integrated payment solution delivers secure PCI PA-DSS compliant, fully managed payment processing for credit, debit, gift and loyalty cards. This solution takes POS software out of scope for PCI PA-DSS. The PIN pad is shipped directly to the site and remotely configured on first power up with minimal effort on the part of the dealer. Alerts are offered that will indicate to the merchant when the batch was settled and for how much.

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Telefónica and MasterCard Partner on mPayment

The Telefónica Group and MasterCard International launched its MFS joint venture to develop mobile payment solutions. MFS’ first product will be a pre-paid account accessed via mobile phones alongside a MasterCard card, which will let consumers transfer cash to other people, make in-store purchases, top-up airtime and carry out other financial transactions. It will primarily focus on the payment requirements of Telefónica Vivo customers who do not have bank accounts, offering them financial inclusion. Cash can be transferred onto pre-paid accounts at mobile phone refill stations, supermarkets and newspaper stands.

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Telecom Italia Implements Gemalto mFinancial Services

Gemalto digital security deployed its complete end-to-end Mobile Financial Services (MFS) software solution by Telecom Italia, the leading mobile operator in Italy with over 30 million subscribers, for the launch of their mobile wallet. The solution includes the LinqUs Trusted Services Management (TSM) platform for the secure management of NFC applications and the LinqUs mobile payment platform for transaction management. Gemalto’s unique integrated solution enables subscribers to manage a complete mobile wallet from their device and use it for retail and transport payments, online and remote payments, loyalty programs, and peer-to-peer money transfers both remotely and in proximity with NFC. The comprehensive service from Gemalto will help extend Telecom Italia’s market reach to offer services to customers in previously untapped demographics such as the under-banked and teenage population.

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National Community Tax Coalition Deploys NetSpend Prepaid Card Services

The National Community Tax Coalition for community-based organizations for low-income working families, has selected NetSpend Holdings reloadable prepaid debit cards and related financial services to provide prepaid card services. NCTC’s 2,300 members provide free tax preparation service to low- and moderate-income, working families through more than 5,700 locations across the U.S. as part of the Volunteer Income Tax Assistance (VITA) program.

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Dickinson Launches Fiserv Multi-Brand mBanking

Dickinson Financial Corporation (“Dickinson”), a $2.1 billion bank holding company based in Kansas City, Mo., has launched mobile banking and bill payment capabilities using Mobiliti from Fiserv. Dickinson is utilizing multi-tenancy deployment, supporting six distinct retail banking brands with a single underlying mobile platform. Customers can now securely access their financial information via a choice of SMS (text messaging), mobile browser and downloadable Android™, iPhone® or Blackberry applications. A complete set of features includes checking balances, locating branches and ATMs, paying bills, transferring funds and depositing checks using camera-equipped smartphones. Mobiliti integrates with each bank’s account processing and online banking platforms, providing a streamlined and consistent cross-channel user experience.

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Transact24 Transfers Prepaid Card Portfolio to CashFlows, Offering Issuing

Transact24 migrated its three unique Visa prepaid card programs in partnership with CashFlows, improving the services that the T24 Prepaid division can offer to its valued customers and partners and widening the geographical area from which applications for our prepaid cards can be accepted. These include the T24 Black prepaid card, offering priority pass and international travel insurance. The T24 BlackShield offers a unique travel protection membership program allowing medical and travel claims can be paid directly to the prepaid card, thereby streamlining procedures for the business to consumer sector. The T24 PayVault – a dedicated corporate pay-out / payroll product with a custom designed and automated back office, offers full integration to corporate clients.

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Visa and NetHope Partner, Modernize Humanitarian Aid Delivery

Visa and NetHope, a consortium of 37 humanitarian organizations, announced the Visa Innovation Grants program to help modernize humanitarian aid payments. Through this, Visa is making available $500,000 in grants to humanitarian and development nongovernmental organizations (NGOs) to increase the speed, security and long-term impact of aid through the innovation and adoption of electronic payments. An Expert Advisory Committee of distinguished leaders with public and private sector experience will assist in the review of applications, which includes Nabeeha Mujeeb Kazi, Managing Director, Humanitas Global Development; Nick Maunder, Humanitarian and Development Consultant; Eric Nee, Managing Editor, Stanford Social Innovation Review; and Sarah Rotman, Financial Sector Specialist, CGAP

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Chase Implements Instant Card Issuance in Branches

In conjunction with Datacard, Chase customers can get debit cards on the spot in 2,000 branches in select regions by year-end and allowed to get a personalized Chase debit card when they open a new checking account or lose or damage their existing card. Chase will install instant-issue technology in 800 additional branches across the United States during 2013 and plans to offer the same convenience for customers with Chase-branded credit cards and the Chase Liquid reloadable card. In conjunction, the bank launched @ChaseSupport, its first customer service Twitter handle and continues to pilot new branch technologies, including self-service banking kiosks that let customers handle many transactions quickly on their own.

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Network International Acquires Majority Stake in TimesofMoney

Network International payment solutions signed a partnership agreement with Times Internet Limited to acquire a majority stake in TimesofMoney for cross-border remittances and domestic payments. TimesofMoney was owned 100 per cent by Times Internet Limited, which is one of the highest remittance receiving countries in the world, estimated at US$64 billion annually, and that the value of the GCC-India remittance corridor is valued at approximately US$25 billion annually. Overall, the cross border remittance market is estimated at approximately US$415 billion globally. TimesofMoney’s flagship brand, Remit2India, is a pioneer in online remittances to India with over a decade of expertise in facilitating money transfers from non-resident Indians (NRIs) across the globe. This acquisition is seen as a major enabler of Network International’s strategy to expand its product offering and geographic coverage.

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MasterCard, Comviva and Tutuka Launch mMoney

MasterCard Worldwide, Comviva Technologies and Tutuka forged a strategic collaboration that combines Comviva’s mobiquity mobile payment platform, Tutuka’s prepaid processing platform and MasterCard’s global electronic payments network to further extend financial inclusion to millions of consumers across Africa. This will enable customers to purchase goods and services at millions of physical and online retailers worldwide where MasterCard is accepted, as well as transfer funds and pay bills. The new solution offered by this collaboration will be available to both Comviva’s existing and new mobile money implementations across Africa, with the potential to benefit over 750 million consumers across the continent. Mobile Money addresses the needs of consumers in developing markets through a readily accessible device, the mobile phone while the partnership is a result of a global initiative called the MasterCard Mobile Money Partnership Program launched by the company in February 2012.

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Standard Bank Deploys Gemalto Contactless Payment

Gemalto digital security is providing Standard Bank a multifunction EMV contactless payment card enabling users to pay for transit fares and other goods and services with one digital wallet. Standard Bank customers can now use the new MasterCard debit card to wave and pay directly at the gates in the public transport stations, without needing to carry cash or a separate travel card. The Muvo card initiative will help cardholders gain greater convenience while at the same time provide competitive advantages to Standard Bank and reduce the burden of managing cash on public transportation in the city of Durban. The Muvo card complies with the exacting requirements of the National Department of Transport (NDoT), which mandates the combination of payment and transport in one single application. This offers considerable potential to acquire new customers. These will include many who previously have been excluded from mainstream banking.

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