MasterCard Partners For African Expansion

MasterCard has announced its first collaborative relationship with a local Nigerian retailer, Flying Dove Limited – authorized distributors for Sony Corporation and owners and operators of Sony Centers in Nigeria. MasterCard will incentivize its cardholders to make use of electronic payment solutions, thus supporting the Central Bank of Nigeria’s (CBN) move towards a cashless economy. This JV is the first cashless initiative of its nature in Nigeria for MasterCard.

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Hanse Orga Develops SEPA Management

Hanse Orga is developing a new add-on that will enable the central management of Sepa mandates in SAP. SEPA brings in its wake new requirements to the management of mandates which will be particularly challenging for corporates with a high workload of direct debits: the existing direct debit mandates can be maintained, however, they have to be enriched by SEPA-specific data in the future. Customers have to be informed that in future, direct debits will be carried out by using the new SEPA mandate data. The new Hanse Orga solution offers templates for sending pre-notifications that will become obligatory under SEPA. All mandates are centrally visible and controllable. Moreover, the existing DTAUS files can be simply enriched by further information required under the new SEPA rules and with the information they can be automatically converted into new SEPA formats for direct debits (SDD).

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Conference Board Shows Luffing Economic Growth

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index was down 0.1% in last month to 95.7 (2004 = 100). This indicates flat economic growth as strengths and weaknesses in our economy remain balanced. This after a promising 0.5% increase in July, but a 0.5% drop in June. Showing positive current economic activity in…

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ACE Software Launches New Payment Service

ACE Software intelligent products and solutions for financial institutions launched its “PelicanPay” service for corporates. This offers a global payments hub that allows corporates operating in a multi-bank and/or multi-ERP environment to control and manage payments securely through a single, SEPA-compliant channel. The “PelicanPay” platform reduces risks and exceptions, designed with best practice in payments in mind to give users visibility and control over both cash and risk management.

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GiftCardLab.com Acquires 1-800-GIFTCARD.com

GiftCardLab.com online provider of gift cards acquired 1-800-GIFTCARD.com. GiftCardLab.com was the first company to offer a customized Visa Gift Card and to ship gift cards with a customized greeting card. Now the company is continuing to blaze a trail in the gift card industry by being the first online gift card store to offer local merchants gift cards branded with their own logos and images. Additionally, the convenience of online ordering protects consumers from gift card tampering. Since the gift cards and card numbers are protected, GiftCardLab.com customers know their gift cards will arrive to the recipient untouched and fully loaded with the requested amount of funds.

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RBS Launches Remittance Exchange

The Royal Bank of Scotland (RBS) plc announced the launch of RBS GlobalXChange (GXC) which brings together its capabilities in cash management and foreign exchange focused on transactional FX. GXC provides RBS Groups’ institutional, corporate and public sector clients, with a flexible integrated solution suite for international cross-currency cash flows – whether they are payments or receivables, single or multiple, automated or bespoke.

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MoneyGram Adds Soneri Bank as Remittance Agent

MoneyGram has added Soneri Bank and Habib Metropolitan Bank to its list of agents offering international money transfer services. The addition of Soneri Bank’s more than 200 locations and Habib Metropolitan Bank’s more than 150 locations to MoneyGram’s Pakistani network comes on the heels of a previous announcement that added four agent banks to MoneyGram’s Pakistani presence”a 30 percent agent network growth. In 2012, Pakistan received more than $13 billion in remittances, according to the State Bank of Pakistan, second only to India in the region.

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Visa Approves G&D Centers For NFC Apps

Visa has approved the TSM (Trusted Service Manager) centers operated by Giesecke & Devrient (G&D) in Munich and Toronto for commercial NFC applications. After previously receiving MasterCard certification for its two TSM hubs last year, the technology group can now offer worldwide TSM services for contactless payment applications based on Visa’s payWave and MasterCard’s PayPass™ technology. This places G&D in an excellent position to roll out commercial NFC services such as payment and ticketing applications for mobile phones. Visa issued its approval after a series of tests had been carried out on critical security features and functions.

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OpenWay and Infotech Secure National Payment Switch

WAY4 software from OpenWay Group is chosen as a solid technical foundation for the National Payment Switch of Bangladesh. Its partner Infotech signed a contract with Bangladesh Bank to carry out the implementation of the new infrastructure to increase the transparency of internal and cross-border electronic payments, optimize all regulatory and supervisory procedures, and reduce related costs. Commercial banks having an ATM/POS/e-Payment Gateways/Mobile payment switches or being connected to any other shared switch network will be able to send inter-bank payment instructions to the NPS for clearing and settlement purpose.

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Ingenico Emabarks on New Market with 3G Payments Terminals

Ingenico launched its “iWL25o 3G” mobile payment terminal. In conjunction with Luottokunta card service provider, which has agreed a deal with Ingenico to install up to 10,000 3G terminals over the next two years, the “iWL25o 3G” will become the first 3G terminal installed in Europe. Built on Ingenico’s industry leading Telium2 architecture, the “iWL25o 3G” offers 3G connectivity and colour screen option, providing merchants the convenience to engage customers anywhere and accept payments on the move, quickly and securely. The device accepts all forms of electronic payments, including magnetic stripe, EMV contact and contactless, and mobile wallet (NFC-based) transactions.

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ANZ Sells Off Visa shares

ANZ has sold its remaining shareholding in Visa, in which its 3.5 million shares have been liquidated for an after tax profit of $224 million. ANZ says this will be reflected as a non-core item in ANZ’s 2012 financial results. ANZ also advised it is undertaking a review of asset valuations including software. It is expected that the outcome of this review together with certain costs associated with completion of the New Zealand Simplification Program will involve a non-core adjustment as part of ANZ’s 2012 full year results that will offset the gain on Visa shares.

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