Payza Now Licensed for Inbound Remittance Processing

Payza online payment processor has received the first license issued from Bangladesh Bank for inbound foreign remittances entering Bangladesh via Online Payment Gateway Service Providers (OPGSP). The license allows Payza to facilitate a significant portion of the more than $14 billion USD in remittances that enter the country annually based on Bangladesh Bank’s projected total for 2012. Payza became the first online payment processor to be licensed by Bangladesh Bank to provide Bangladeshis with a convenient and affordable way to receive international bank transfers. The purpose behind Payza’s introduction to Bangladesh was to provide localized bank transfer services to the more than 10,000 freelance software developers, who collectively earn approximately $15 million USD annually.

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Conference Board LEI Gaining Momentum, Positive 2mos Running

[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. increased 0.2% in October to 96.0 (2004 = 100), keeping in conjunction with a 0.5% increase in September, but a 0.4% drop in August. The LEI still indicates modest economic expansion in the near term. Over the last six months, improvements…

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Coastal FCU Intros NCR mCheck Deposit

Coastal Federal Credit Union, a $2 billion not-for-profit member-owned financial cooperative serving North Carolina, has extended its members’ mobile banking experience by enabling them to use their mobile device camera to scan and deposit checks using mobile software from NCR Corporation (NCR). Coastal Federal was one of the first financial institutions to launch mobile check deposit integrated into APTRA Mobile Banking. NCR APTRA Passport Remote Deposit Capture software with the mobile banking app offers a range of core banking functions on their mobile device including balances, transaction history, bill pay, and funds transfers – and now deposit checks without leaving their home. Members just choose a “deposit check” option where they will be prompted to take a photo of the front and back of the check. After confirming the value of the check, the check image will be transmitted for processing.

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AmEx Unveils Receipt Capture App

American Express has launched a new app for Android and iPhones that uses the mobile’s onboard camera to snap and store receipts for later reconciliation with account statements. The “ReceiptMatch” solution can be used by company employees to capture images of receipts on the go and add a note to the transaction. The captured images are automatically matched to the corresponding transaction on account statements.

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INSIDE Secure to Acquire ESS Security Specialist

INSIDE Secure has entered into an agreement to purchase Embedded Security Solutions (ESS) high expertise business which designs and develops encryption-related security hardware intellectual property (IP) and software for a variety of industries, including the mobile and networking markets. This acquisition will enable INSIDE Secure to reinforce its position as a key player in the fast-growing security solutions market. ESS brings to INSIDE Secure complementary offerings for a complete security architecture, as well as additional solutions for securing both content (Digital Rights Management or “DRM”) and data exchange (Virtual Private Network or “VPN”); ESS complements INSIDE Secure’s know-how with a talented team of 79 highly qualified employees located in Europe, Asia and in the US, as well as its extensive and highly regarded security intellectual property and technology portfolio, which aligns with INSIDE’s long-term strategy to generate its own IP licensing revenue; and this will allow INSIDE Secure to access a wider customer base in the mobile, content provider and network industries that serve a variety of application markets.

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Cryptomathic joins SCA and its EMV Forum

Cryptomathic e-security has joined both the industry association Smart Card Alliance (SCA) and SCA’s cross-industry group, the EMV Migration Forum. Cryptomathic will contribute its global knowledge of enhancing the security and integrity of data on secure chip technology and, more specifically, the deployment and management of EMV payments. Similarly, building on decades of IP and effort in the cloud and virtualised chip space, Cryptomathic will concentrate on mobility in payments within the SCA.

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PayAnywhere mPOS Solution Now Available to Retailers

PayAnywhere, the professional grade mobile point of sale solutions provider, announced the launch of its nationwide retail channel with some of the nation’s largest and most well-known retailers, including Wal-Mart® Stores Inc., OfficeMax® Incorporated, Sam’s Club® and The Home Depot®. These retailers will offer the PayAnywhere mobile credit card readers in stores as part of the company’s newly launched channel program and can now find PayAnywhere mobile credit card readers on shelves and pegs at stores where they already shop for their business needs. PayAnywhere also offers readers for contractor’s desks to best serve professional trade customers.

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MPowa Announces Plans for Expansion

mPowa m-payments is expanding due to its growing customer base. New recruits are also being sought for the company’s e-commerce arm Powa, which rolls out SaaS platforms for the like of Electrolux, Robbie Williams, and Barclaycard. The Company is planning a new bout of aggressive growth in the New Year and will look to establish itself in a number of international markets, focussing on banks, telecoms providers and large corporations.

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SIX Payment Services Offers Credit-Debit Card

SIX Payment Services innovative solutions along the entire value chain of cashless payments launched the payments processing technology behind the world’s first dual Maestro (debit) and MasterCard (credit) display card with added contactless payments and secure e-commerce functionalities, which successfully went live last week. The ‘PaschiCombo’ card allows ntegration of both debit and credit card capabilities onto a single card using one single chip; allows NFC transactions via the PayPass contactless payments platform; and provides a built-in passcode display screen, generating individual number sets for 3D secure e-commerce transactions.

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UAE Exchange Partners Western Union

UAE Exchange remittance and foreign exchange brand with a presence in five continents, has strengthened its ties with Western Union, a leader in global payments services to extend joint operations in Morocco. UAE Exchange is already a leading agent for Western Union in the Middle East. The aim of being the trusted neighbourhood brand has motivated UAE Exchange to build the world’s largest network in its class with over 650 direct offices in 30 countries across five continents in a span of over three decades, providing a wide range of financial services under one roof.

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WorldPay Extend Pay-as-you-go Card Acceptance

WorldPay payment processing and alternative payments is extending its pilot Pay As You Go Card Acceptance Service for Micro Merchants. The WorldPay service works by linking a smartphone app to a separate secure chip and PIN device and allows merchants to accept Visa and MasterCard debit and credit card payments. With 700 start up and small businesses already benefiting from the service, WorldPay is opening up the trial service to hundreds more small businesses, including merchants at The Prince’s Trust Christmas Fayre, ahead of a full commercial launch of the service in the new year.

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