Amazon Payments Expands Through RubyLane.com

RubyLane.com partnered with Amazon Payments to offer buyers an additional payment option on its site. Sellers on the site now pay 2.4% plus $0.30 per transaction (regardless of the sales volume through Amazon Payments), rather than the usual rate of 2.9% plus $0.30 per transaction, until at least October 1, 2013. After the introductory period, rates are subject to change, but will not exceed 2.9% plus $0.30 per transaction (for International Orders there is an additional 1% fee per transaction).

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Net Element Partners Mobile Telecom Provider and CIS

Net Element, a global technology and publishing company that operates in mobile commerce and payment processing, and Mobile TeleSystems OJSC telecommunications provider partnered to provide payment processing services to MTS’ 100 million-plus subscribers. The agreement, effective as of August 1, 2012, calls for MTS to allow Net Element’s mobile payment platform, TOT Money, to facilitate the payment processing for MTS subscribers. In first month of processing for MTS, TOT Money processed about 80 million rubles (approximately $2.5 million) for MTS customers.

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Dynamics Launches Triple-Interface Device at Finovate

Dynamics next-generation payment cards launched its “Triple Interface” next-generation payment device at Finovate, creating a central platform for all three primary payment technologies on a single piece of plastic in a re-writeable format. For magnetic stripe readers, a card-programmable magnetic stripe – Dynamics’ proprietary Electronic Stripe™ – is included, which can re-write any bit of the magnetic stripe at any time. For EMV contact readers, a card-programmable chip – Dynamics’ proprietary Chip and Choice™ product – is included, which can re-write a contact chip profile at any time. A card-programmable contactless chip – Dynamics’ proprietary Chip and Choice™ contactless product – is included, which can re-write a contactless chip profile at any time.

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Virtual Piggy Partners Ty Plush Retailer

Virtual Piggy will integrate its innovative youth payment system into the world’s largest online plush retailer website ty.com. Ty Inc. produces the world renowned Beanie Babies® as well as Beanie Buddies®, Teenie Beanie Bopppers®, Beanie Boppers® and other plush lines recognized the world over by their distinctive red Ty Heart Logo®. When making purchases through Virtual Piggy, kids do not share any personal information making it completely compliant with COPPA and TRUSTe certified.

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Regal Payment Systems Partners ICG Software, Launches POS

Regal Payment payment processing services forged a new partnership with ICG Software software and hardware solutions to launch its “HioPOS Plus” ‘All-In-One POS System.’ Regal Payment Systems has developed a strategy that will reach untapped markets and provide a more suitable and cost effective alternative to Cash Registers and Lower End Point of Sale Solutions with more flexible program options.

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Dynasty Prepaid Visa RushCard Launches New Ad Campaign

RushCard is debuting its first Spanish-language television spot featuring the Dynasty Prepaid Visa RushCard and baseball star Alex Rodriguez. The commercial began airing on Hispanic television networks this week. In the spot, Rodriguez recalls learning from his mother – who worked two jobs to support her family – the value of working hard as a means of achieving financial stability. The Dynasty Prepaid Visa RushCard is a prepaid card that offers budgeting tools, bill payment, mobile features and many other valuable services to individuals looking for alternative banking solutions. RushCard – accepted everywhere Visa debit cards are – provides exceptional service and cardholder benefits that allow cardmembers to get ahead in their financial lives.

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PreCash Launches mWallet for Underbanked

At FinovateFall 2012, PreCash announced and demonstrated FlipMoney, the first viable mobile wallet app for underbanked consumers. This lets people without a bank account or credit card do instant remote check deposits and perform free expedited bill payments with their smartphone. Large scale deployment will begin this fall. During Finovate, PreCash announced the mobile solution can be customized and branded for mobile carriers, prepaid program managers, money service businesses and other merchants. Flip allows a person without a checking account to remotely deposit their checks into a mobile wallet that works with a prepaid debit card. Flip is unique because a user can elect an instant check deposit option that typically makes funds available within minutes. Current remote check deposit solutions take three to six days to process.

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FDIC Shows Large Unbanked and Underbanked Population

The Federal Deposit Insurance Corporation (FDIC) released the results of its 2011 National Survey of Unbanked and Underbanked Households, the most comprehensive survey on the unbanked and underbanked in the United States. The survey indicates that more than one in four U.S. households (28.3%) are either unbanked or underbanked, a slight increase from the findings of the FDIC’s 2009 inaugural survey. As of 2011, 821,000 more U.S. households have become unbanked since the first survey in 2009, representing a 0.6 percentage point increase. More than half of all unbanked households said they do not have an account because they believe they do not have enough money or that they do not need or want an account. In addition, the report shows that three in ten households nationally do not hold a savings account. Additional findings indicate 8.2% of U.S. households are unbanked, or nearly 10 million in total while approximately 17 million adults live in unbanked households; 20.1% of U.S. households are underbanked, or 24 million households, with 51 million adults; and 29.3% of households do not have a savings account, while about 10% do not have a checking account.

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American Express Named “Most Admired Payment System”

American Express has been named “Most Admired Payment System” by readers of The Beat, the BTN Group’s industry-leading business travel newsletter. This is the fifth year in a row American Express has won the award, making it the only company to do so since The Beat’s Readers’ Choice Awards program launched in 2008. The survey named American Express the “Most Admired Payment System” for its “service, policies, and management style.”

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Heartland Recognized as Top Technology Innovator

Heartland Payment Systems payments processor was ranked #112, an increase of 83 spots, in the 2012 InformationWeek 500. This marks the sixth consecutive year that Heartland has made the list for its innovation in payments and information technology. Heartland was honored for atlas, its homegrown sales enablement/hybrid CRM application that streamlines and enhances the sales process. A Software-as-a-Service (SaaS) platform built for all major web browsers and tablets, especially the iPad®, atlas delivers a simplified and improved customer buying experience with on-demand proposal generation, automated underwriting and increased customer security through encrypting all personal identifiable information at the point of collection. Heartland completed the project from inception to delivery in only 12 months, all through internal resources that allowed cross-matrix business owner requirements to be quickly synthesized for accurate feature delivery.

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MoneyGram Launches Payout Service in China

MoneyGram money transfer announced customers in China can now cash out money transfers from Australia in Australian dollars at any Bank of China (BOC), CITIC Bank or Industrial and Commercial Bank of China (ICBC) branch location. The addition of Australian payout service, available at all 9,755 BOC; 1,858 ICBC; and 450 CITIC Bank branch locations offering MoneyGram services, are offered free of currency exchange fees for Australian customers sending money to friends and family in China since the transactions involve Australian dollars at both the sending and receiving location. For customers in Australia, MoneyGram is currently offering a $16 Australian dollar flat fee for any amount up to $10,000 US dollars from now until January 2, 2013.

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