MasterCard Announces Euro-Lab

MasterCard unveiled its MasterCard Labs office as an innovation hub to lead in the development of innovation and technology for MasterCard Worldwide. The MasterCard Labs in Dublin will be the first such office in Europe and joins Purchase, New York, Singapore and St Louis, Missouri, as part of an ever growing global network of innovation excellence. As the first event hosted at MasterCard Labs Dublin, MasterCard’s innovation showcase featured an array of products and services, which demonstrated ways the company uses technology and innovation to grow its business, diversify across geographies and customers, and build new business.

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NAB Partners VeriFone on Payments Innovation

National Australia Bank (NAB) and VeriFone Systems partnered to provide Australian businesses access to payments technology on Apple, Android and BlackBerry devices. VeriFone will be the sole provider of point of sale card acceptance solutions for NAB’s business customers, with stable, efficient and reliable technology for card acceptance and enhanced mobility to NAB’s 130,000 merchant customers. With VeriFone’s mobile payment solutions, merchants are able to use tablets or smart phones as payment acceptance devices that can be used anytime, anywhere.

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Tsys Inks Scotiabank Partnership

Tsys has signed a payments agreement with Scotiabank (BNS) to provide processing services for Scotiabank’s banking cards portfolio for undisclosed terms. The agreement calls for Scotiabank to convert its consumer card portfolio in Mexico to TSYS’ industry leading TS2 platform, which will also provide campaign and data management, and fraud and risk management tools as part of the agreement.

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First Data Releases Payment Card Spending Analysis

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data payment processing released its SpendTrend, tracking same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations for September 2012 compared to September 2011. Overall dollar volume growth was 5.8%, down from August’s 7.2% growth, thanks in great part to to…

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MoneyGram Launches Foundation for Global Giving

MoneyGram money transfer launched its MoneyGram Foundation to demonstrate its passion for educating young minds and focus on funding programs for educational resources and basic school supplies for school-age children around the world. In the past month, MoneyGram’s Global Giving program has given $230,000 to organizations in more than a dozen countries across Africa, Asia, Eastern Europe, Latin America and North America. With its guiding principle, “Inspiring minds. Improving lives.,” the focus of the MoneyGram Foundation is rooted in the belief that education is at the heart of better economic opportunities, healthier families and individual freedom and empowerment.

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VeriFone Partners Valero to Implement POS

VeriFone partnered Valero Retail to implement its “Paymedia for Secure PumpPAY” in an initial pilot at corporate-operated sites. The VeriFone “Secure PumpPAY” solutions allow gasoline retailers and distributors to retrofit gasoline dispensers with EMV-capable, PCI payment systems that meet the latest payment security standards with full-color digital display and audio that elevates the fueling experience to a new level. It also provides a solution for secure payments, targeted advertising, coupons and special offers, and delivering real-time, relevant information such as weather and safety warnings.

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MasterCard Updates Expense Reporting/Management

MasterCard made its latest enhancements to the MasterCard “Smart Data” and its MasterCard “smartdata.gen2” web-based expense management and business intelligence. This allows companies to better manage their business and increase cost savings through unsurpassed visibility and access to comprehensive spend analytics. Included among the enhancements to smartdata.gen2 are improvements to expense reporting functionality; Industry-leading data export capabilities, for the flexibility to serve every kind of customer; and a new analytics module to monitor programs graphically and dynamically with a couple of clicks.

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Visa Sees P2P Payments up 89% Y/Y

Visa Inc.’s Personal Payments platform has seen 89% growth in September 2012 since the year ago period in Asia-Pacific, Middle-East, Africa and Eastern Europe.The platform, which enables consumers to send money directly to eligible Visa credit, debit or prepaid cards around the globe, is now available to an estimated 200 million consumers through 74 leading financial institutions in 18 countries. Visa Personal Payments has seen rapid adoption among financial institutions and payment service providers with ICBC Bank in China; Standard Chartered Bank, Maybank and OCBC Bank in Singapore; Alfa Bank, QIWI and Russian Standard Bank in Russia; UAE Exchange in the Middle-East,Taishin International Bank in Taiwan and ICICI Bank and, State Bank of India in India.

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MasterCard Report Shows Smart Consumers Set Pace in Retail Revolution

Retailers across Europe predict the mobile phone will overtake the physical store, website and call centre, as the single most important communication channel with customers by 2020, according to new research from MasterCard. Only 3% believe the industry is currently keeping pace with consumer demands for multi-channel retail. This research, conducted amongst 300 leading retailers across Europe, forms part of a new industry report sponsored by MasterCard and written by the Economist Intelligence Unit: “The I Factor: how consumer demand is driving retail innovation”. It heralds the era of the “I-Con” – the smart, omnichannel, omnipotent consumer – and looks at how retailers are innovating to retain competitive edge in a rapidly revolutionised market, whilst setting out a vision of how that market will continue to evolve. It concludes the customer is in the driving seat: One in three retailers cited a more empowered customer (32%), alongside increased choice (competition from other retailers – 37%), as amongst the top causes of change in the retail sector in the past five years.

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iwoca Loans Appoints New Director

iwoca working capital loans for marketplace sellers appointed Carl-Olav Scheible Non-Executive Director. Scheible will contribute to the overall development strategy of iwoca, monitoring the company’s fiscal performance and future growth plans. He brings over 20 years leadership experience from the technology and financial services sectors and has held a number of senior positions at PayPal. Scheible successfully launched and was responsible for PayPal’s operations in six European countries and its merchant services business. He currently holds the position as Executive VP of Moneygram and has an MBA from Columbia Business School.

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Unemployment Rate Sees Most Movement in Months

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After sitting at just above the 8% mark for 8 months, the unemployment rate has seen the largest change since February 2012, dropping to 7.8%. Down over a full percentage point from the year ago period, when it was 9.1%, the number of unemployed Americans was down 0.3% since August. The…

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LevelUp Partners Big Name POS Systems

LevelUp is integrating with POS systems, including Micros, POSitouch, and Dinerware, collectively representing 30% of all the POS systems that exist. This is part of the company’s mission to integrate with every existing system out there to make it easier for merchants to accept LevelUp’s unique combination of mobile payments and customer loyalty campaigns. These partnerships allow LevelUp transactions faster, easier, and more seamless for merchants First, LevelUp transactions get logged alongside every other credit card and cash transaction for the day, making it much easier to balance the register at closing. And second, the analytics from LevelUp’s loyalty-driving campaigns get integrated right into the merchant’s existing POS system, making it easier to track all of that amazing data on who’s coming back and how often, as well as what they’re ordering. The LevelUp network offers zero interchange for 0% in processing fees.

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