OKI Announces ATM-Recycler with Alfa-Bank

OKI partnered Europeum to launch its ATM-Recycler G7 cash-recycling ATMs to Alfa-Bank. Alfa-Bank currently operates 2,700 ATMs and has been considering a dramatic overhaul of its ATM network. The new ATMs making up this network required various functions to handle not just the Ruble, Russia’s home currency, but multiple key foreign currencies, including US dollars and Euros. In a pilot project running from June to September 2012, Alfa-Bank undertook a trial run involving four ATM-Recycler G7 units. This effort was positioned as part of a strategic plan to improve the bank’s network to maintain Russia’s leading customer service levels.

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MasterCard Canada Inks Home Trust Partnership

Home Trust Company has partnered MasterCard Canada to grow Home Trust’s payment card services and merchant acquiring portfolio. Home Trust will expand its payment card portfolio through the development of a prepaid card business with MasterCard. MasterCard and Home Trust will also work together to further grow Home Trust’s merchant acquiring portfolio. Home Trust conducts merchant acquiring through Payment Services Interactive Gateway(PSiGate), with secure and trusted solutions to small and mid-size merchants.

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Consumer Credit Outstanding Down M/M, Up Q/Q

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit having spiked 5.9% in August, it witnessed a 4.1% decline September. With growth of 5% since the year ago period, outstanding consumer credit has seen growth of 2% since the July figure, according to the Federal Reserve. Down from the August figure of…

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VeriFone Launches Dynamic EMV Platform

VeriFone Systems made available its “Sail EMV” platform allowing banks and acquirers to quickly provide smartphone and tablet-based chip-and-PIN card payments solutions to small and medium-sized merchants. This offers a complete solution to expand their product portfolios with custom-branded services that enable mobile merchants to accept chip-and-PIN payments and payment adapters designed to meet industry security requirements. It also includes mobile phone SDK’s for easy integration with iOS and Android mobile platforms and a secure transaction management system leveraging VeriFone’s Point Gateway payment-as-a-service global infrastructure, adding to VeriFone’s suite of chip-and-PIN enabled smartphone and tablet solutions, including PAYware Mobile Enterprise hardware and VeriFone GlobalBay mobile software that is already being deployed globally with larger retailers. The “SAIL EMV” solution contains all of the building blocks that banks and processors need to build a custom branded experience.

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MasterCard to Host Dialogue on Financial Inclusion

MasterCard research now confirms the economy, health care, and taxes are in the for front for American consumers, 2/3 of whom feel the 88 million Americans lacking access to basic financial services agree it’s an issue to be addressed. When asked how financial inclusion would factor in determining their vote, about one-third of Americans interviewed said it would be important. The vote importance is higher among males ages 18-54 with 41% stating that financial inclusion would be important as well as unmarried Americans with 42% considering the issue important. MasterCard is subsequently hosting a Financial Inclusion Dialogue as part of its Cashless Conversations Series on November 13th, hosting experts across financial services, non-governmental organizations to discuss strategies and share best practices for increasing financial inclusion.

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Western Union Prepaid Cards Available at 7400 Family Dollar Stores

Western Union prepaid cards are now available at more than 7,400 Family Dollar locations in 45 states, offering the award-winning Western Union® Gold Card MasterCard and the Western Union® Telemundo MasterCard to customers. Both of the cards can be used anywhere debit MasterCard is accepted, including at ATMs and for online shopping and can be reloaded at more than 60,000 retail locations, including Family Dollar stores and 46,000 Western Union Agent locations throughout the U.S. Cardholders can also receive funds on their card via payroll or government benefits direct deposit; a Western Union Money Transfer directly onto the card; or transferring money to the card from a bank account.

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MasterCard Appoints Regional Head

MasterCard Worldwide has appointed Kevin Goldmintz as head of Hong Kong & Macau. Goldmintz joined MasterCard in 2004 and was initially based in Hong Kong, where he successfully launched the joint MasterCard-Citi Commercial Card business in more than seven markets in Asia Pacific. He moved to Australia in 2007 to lead the Citi Australia account which includes Citi’s largest commercial card business in Asia Pacific. He was also responsible for signing MasterCard’s first ever airline co-branding deal in Australia with Emirates airline. He worked as a Product Manager for ANZ Bank, one of the largest commercial card issuers in Australia, managing the SME portfolio-the largest SME card portfolio in the country- and led the Qantas-ANZ airline co-branded card project and was responsible for the overall relationship with Qantas.

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Western Union and ChinaPay Partner on Direct Payments

Western Union Business Solutions is planning to expand partnership with ChinaPay online and mobile payments subsidiary of UnionPay. This will enable participating universities and higher education institutions around the world to accept international tuition and student fees in the Chinese Renminbi (RMB). The partnership will also offer an integrated, co-branded platform that will allow universities to give incoming Chinese students and their parents the ability to make foreign tuition payments in their home country and currency. Combining ChinaPay’s online and mobile payment portals with Western Union Business Solutions’ integrated foreign exchange and payment platforms will enable fast and reliable fund reconciliation and will allow payers to have funds deducted from their UnionPay cards in real time.

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MoneyGram Partners Qtel on mMoney Transfer Service

MoneyGram (MGI) global money transfer announced a multi-year agreement with Qtel mobile operator on international mobile money transfer services through customers’ mobile wallets. With this, Qtel customers will be able to register for the Qtel Mobile Money service at any Qtel shop or directly from their mobile phones and send funds that can be picked up at any of MoneyGram’s 284,000 global locations in 197 countries. This also gives thousands of customers in Qatar who do not have a bank account or use traditional banking services the ability to send money using a mobile device internationally in a secure, convenient and reliable method 24 hours a day, 365 days a year.

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BMW Group Financial Relaunches BMW Credit Card program

BMW Bank of North America is re-launching a new, three-tiered BMW Credit Card program with an expanded Visa credit card collection. The BMW Card, the BMW Signature Card and the BMW Ultimate Card – issued by the BMW Bank targets existing cardholders, introducing them to the new program and, where applicable, inviting them to upgrade to another tier, all without changing their account numbers. Cardholders will have access to a range of premium reward redemption options developed from customer feedback and realigned with the BMW brand, including enhanced point earnings and a broader array of redemption levels.

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KashFlow Names New Vice Chairman

KashFlow cloud-based accounting software company has appointed seasoned software CEO Raj Patel as Vice Chairman. Following 5 years as CEO of global business software company, Exact, Raj has been working with KashFlow for the past nine months in an advisory position and bought an equity stake in the accounting software business. The support for the Executive team that Raj will bring will allow Founder and CEO Duane Jackson more time to investment in youth startup projects.

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