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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Gemalto Expands mPayment Software with Western Union

Gemalto digital security expanded its mobile payment software solution to include Western Union Money Transfer service on the “‘LinqUs” mPayment Platform. It has been certified through Western Union’s Mobile Vendor Program to offer end users new options to send and receive money across borders with their mobile phone. This expanded solution is available now to operators and financial institutions worldwide to help them meet the growing demand for mobile remittance services. The expansion of its mobile payment software solution builds on Gemalto’s expertise in mobile security, integration capabilities and strong track record of 70 mobile financial services deployments across the world.

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Average Card APR way Down Year-Over-Year

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having not wavered much, average credit card APRs have demonstrated the greatest discrepancy since its year ago figure in months. After peaking at well over 15% following the holiday shopping season, credit card interest rates have plummeted back to averages not seen since August. Now standing at 14.91%, averages have witnessed…

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VeriFone Brings Finish Line Multimedia mPayment Options

The Finish Line is deploying VeriFone’s mobile checkout and multimedia-driven countertop payment solutions, f ollowing a successful trial, at all of its 638 locations equipped by mid-November when the holiday buying season begins. Finish Line is deploying 1,600 of the countertop multimedia MX 915 systems and 3,200 PAYware Mobile Enterprise secure mobile card acceptance devices for the iPod touch. Finish Line is completing a system-wide upgrade to the MICROS Systems xStore POS and MICROS miStore mobile Point of Sale, which are designed to increase sales associate productivity and build strong customer loyalty, and the new media-enabled VeriFone MX 915 customer-facing payment acceptance solution. The PAYware Mobile Enterprise card encryption reader, with integrated 2-D bar code scanner, works with all forms of electronic payment including magnetic stripe, chip and PIN, and contactless/NFC-enabled cards and phones.

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Discover Appoints Diners Club International President

Eduardo Tobon has been named president of Diners Club International, responsible for the entire Diners Club business, including marketing, product management, operations, client relations and overall business development. Tobon was most recently CEO of the U.S. Cards and Payments Division at Sovereign Bank-Santander, where he held leadership roles for strategy, product, marketing and sales. Prior to this, Tobon provided strategic consulting at two McKinsey legacy firms, Mitchell Madison Group and AT Kearney, as well as worked in production planning for Procter & Gamble.

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Inside Secure Launches EMV-compliant Smart Card Reader

Inside Secure launched its “AT90SCR200” EMV-compliant smart card reader microcontroller, allowing developers to more quickly and easily attain EMV level one type approval for their products, an important symbol of quality throughout the industry. The new INSIDE smart card reader microcontroller complies with the EMV 2000 version 4.3 standard and is also pre-certified to all relevant industry standards, including PC/SC, ISO 7816, GIE-CB, GSM, USB FS 2.0 and WHQL. In addition, the AT90SCR200 delivers superior communications speeds and features 100 per cent byte code compatibility with all current INSIDE AT90SCR-series smart card reader microcontrollers. The INSIDE “AT90SCR200” may be used to create a bridge between a contact or contactless smart card (when used with an RF interface) or USB smart card and the host processor in a variety of card-based systems, including contact USB PC-Link smart card readers, smart keyboard, PinPad, embedded readers and laptop smart card readers and conditional access modules.

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Digital River to Acquire LML Payment Systems

Digital River global cloud commerce is set to acquire LML Payment Systems in an all cash transaction for $3.45 per share. Digital River has traditionally focused on online payment processing for enterprise and mid-sized merchants. LML Payment Systems processes online payments for more than 14,000 small to mid-sized merchants. The combination will enable Digital River to broaden its online payment services to businesses of all sizes. Collectively, the companies will handle more than $20 billion in online transactions for tens of thousands of companies across a broad range of industries, including software, consumer electronics, government, utilities, event registration and mobile payments.

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SAP and Westpac Launch Real-Time Payment

SAP and Westpac Institutional Bank launched a partnership to develop Australia’s first real-time payment solution for large companies and institutions, heralding a new era in corporate banking. SAP’s market leading technology – NetWeaver Process Integration and Westpac, intend to deliver a one-step payment solution that will bring significant cost savings for some of the country’s largest companies. The real-time solution overcomes the normal multi-step process of digital payment instructions and is made possible by connecting the end-to-end payables and receivables data for large companies using Global Data Standards.

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