Acculynk Acquires PayLeap, Forges New Division

Acculynk has acquired PayLeap e-commerce payment gateway platform and merchant services ISO to form Acculynk “Direct.” Providing an acquirer with the ability to offer Internet PIN debit to small and mid-market merchants, Acculynk Direct will provide full service payment processing and payment gateway solutions to small and mid-size merchants, and a full affiliate program to partners and resellers. Additionally, Acculynk Direct plans to provide a full suite of developer-oriented tools to provide simple integration of the service into mobile merchant applications and e-commerce sites. PayLeap brings to the table fraud management tools, tokenized cardholder data vault, hosted payments page, online secure checkout, recurring payments, and a co-branded virtual terminal.

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EMVCo and NFC Forum Synchronise Contactless Standards

EMVCo and the NFC Forum will optimise the development and testing process of NFC mobile devices for vendors, aligning specifications and cross-recognition. This will offer benefits to stakeholders involved in EMV-related NFC use cases and products in the contactless payments industry by reducing product time-to-market and decreasing certification costs. Activity will focus on Level 1 functionality, which covers contactless communication protocol. Initial efforts will centre on outlining the scope of work and the specifications to be covered. These efforts will be followed by a gap analysis to identify and examine specification differences, agree on specification updates where necessary and how agreed amendments will be collectively managed.

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Invapay Implements Earthport Remittance

Invapay payment aggregator selected Earthport cross-border payments service provider to deliver a fully automated cross-border international payments service. With this, Invapay will leverage Earthport’s payment platform to provide an end-to-end solution that enables a ‘one-stop shop’ for international supplier payments offering greater efficiencies and cost savings. Invapay is a regulated provider of procurement and electronic payment services connecting corporate buyers and vendors worldwide to settle cross-border payments without having to develop individual relationships with overseas banks. With Earthport’s international reach and payment automation capabilities Invapay can now provide an end-to-end automated procure-and-pay solution.

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Virtual Piggy Sees Growth in-Step With Payments Industry

Virtual Piggy’s safe e-commerce solution for youth under 18 is attractively positioned to benefit from increasing interest in payment platforms. This is as E-commerce continues to see a healthy level of growth, particularly with increasing innovations in mobile payments and growth in mobile-commerce projected to be $10 billion (Internet Retailer). It also due in part to parents having initiated lawsuits against industry leaders, such as Apple and Facebook, contesting payment transactions entered into by children, exposing potential liabilities in delivering products and services to children. Virtual Piggy- rather than displace existing payment systems- enhances many current commerce platforms to leverage an attractive Under 18 segment and should therefore see quick adoption.

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MasterCard Licenses Branded Cards Internationally

MasterCard Worldwide issued a license to a Myanmar bank, paving the way for branded cards to be issued and accepted in the country for the first time, following a historic agreement signed this month. The license agreement with Myanmar’s Co-Operative Bank Limited will see the issuing of MasterCard branded cards and the acceptance of MasterCard/ Maestro/ Cirrus cards by ATMs within the country. The agreement also enables merchants in Myanmar to accept MasterCard payment cards, giving them access to commerce and the ability to participate in the open, global payments system that MasterCard enables. Merchants will also benefit from being part of a network of thousands of issuing and acquiring financial institutions and their suppliers and partners.

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ANZ Banking App Now on Android

ANZ announced its “ANZ goMoney” banking app is now available on Android. The mobile bank app allows users to securely transfer money between friends and businesses using mobile phone details. The busiest times for “ANZ goMoney” are from 5-7pm on weekdays suggesting the commute home and ‘just after work’ hours are popular for completing online transactions while women are also five times more likely than men to transfer money using Pay to Mobile for food. Men are five times more likely to use the app to pay for entertainment.

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Sacombank Partners CyberSource e-Commerce

CyberSource eCommerce payment management service from Visa partnered Sacombank to provide payment and fraud prevention solutions for its merchant customers. This allows Sacombank to extend its service portfolio by enabling its merchant customers to adopt eCommerce best practices and market-leading technology. For CyberSource, the deal follows several recent agreements to provide transaction and fraud prevention solutions to businesses in the region. At the end of 2010, there were 26.8 million internet users in Vietnam, of whom 42% were online shoppers.

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Crealogix Launches Two-Factor mAuthentication

CREALOGIX comprehensive e-banking solutions launched its CLX.MobileSecurity for secure authentication on smartphones for new mobile services. Based on the “two-factor authentication” principle, CLX.MobileSecurity uses a USB token or smartphone as a second channel and is currently being used with desktop devices. The multi-platform solution provided by CREALOGIX enables barrier-free access via the audio interface or NFC functionality of the mobile device, without losing any of the required security. The “CLX.MobileSecurity” token is inserted into the audio port of the mobile device for identification or to confirm a transaction. A small, integrated LCD screen enables the additional confirmation of the transaction, making it almost impossible to carry out fraudulent transactions. The audio token can be used with all smartphones, tablets and even desktops.

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Economic Confidence Lowest 2012 Level

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor hit its lowest 2012 level in August, down 0.7 points from July to 88.6, showing the third consecutive monthly increase in those convinced the economy is getting worse. Those perceiving the U.S. economy as poor having leveled out from June to July, 56% ranked the economy…

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ORCC Opens New Office to Tap Payments Industry Recruits

Online Resources Corporation financial technology services opened its Metro Atlanta office with the focus to gain the capacity to recruit local payments professionals. This as ORCC announced its one-year anniversary of its India office and the addition of 80 new employees. Both new offices will increase the capabilities and delivery options of its banking and bill pay solutions, further solidifying the company as a technology leader in the digital financial space within the U.S. and global markets.

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TSYS JV Recognized for Top Growth

TSYS JV partner, Central Payment Co., has been named one of the fastest growing private companies in the United States by Inc. magazine for the third consecutive year. Inc. ranked Central Payment as number 1,562 in its annual list of the 5,000 fastest-growing private companies in the U.S. This ranking places Central Payment in the top third of all companies ranked and positions it as the 89th-fastest growing company within the financial services industry. TSYS announced its JV with Central Payment, in which its holds 60%. Its focus is on payment processing for merchants in the restaurant, personal services and retail sectors through TSYS technology.

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Newly Launched PaidThx Set to go Live

The newly-established PaidThx social payment network is set to make its public debut. Allowing users to replace their cash and checkbooks with their smartphones on Android and iOS smartphone applications, the PaidThx social payment network also lets customers transfer money with friends, family, and their favorite organizations quickly and easily. It lets users can send and receive money with all of their contacts, no matter where they bank using a smartphone, computer, or popular social media sites.

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