TSYS Inks Multi-year Bank of America Processing Agreement

TSYS completed master services agreement, with a minimum six year term, with Bank of America to provide processing services for its consumer credit card portfolios in the U.S. and will continue to process Bank of America’s commercial credit card portfolios in the U.S. and Internationally. For this, Bank of America will utilize TSYS’ “TS2” core payments engine and its customized processing solutions to include risk and financial management and business intelligence delivered through a dedicated support team. TSYS currently processes Bank of America’s commercial and small business card portfolio on its TS2 platform, and that relationship will continue under the new agreement, and plans to complete the conversion of Bank of America’s consumer card portfolio from its in-house processing system in mid-2014.

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Elan Launches Edward Jones MasterCard

Elan Financial Services partnered to deploy the Edward Jones MasterCard personal and business credit card products and services. The “Edward Jones MasterCard” lets cardholders earn Loyalty Points for net dollars spent that can be redeemed for travel, merchandise, gift cards, charitable donations or ChoiceInvest. ChoiceInvest is a new option which allows clients to redeem points for cash that may be directly deposited into their Edward Jones account.

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Dynamics Now MasterCard Certified for Card Production

Dynamics next-generation payment cards has been certified as a payment card production vendor for the MasterCard payment network to offer consumers a battery-powered MasterCard-branded card. This will provide spending, security, and personalization options. Dynamics has pioneered the creation of battery-operated payment applications that integrate full computer architectures, which may include buttons and displays, into the cards to provide new features.

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i2c Payments Platform Serves 216 Countries & Territories

i2c payment processing and emerging commerce solutions issuing processing platform, MCP, now processes payment transactions for consumers in 216 countries and territories. MCP is a global payment processing platform from which companies can launch and manage card-based, virtual and mobile payment products. The company, which is certified with Visa and MasterCard for global processing, most recently helped clients in Latin America & the Caribbean, Africa and Asia go to market with new payment products. Last month i2c announced plans to bring a new data center online in Shanghai, China.

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SunTrust Bank to Deploy NCR Single-Slot ATM Technology

SunTrust Bank is deploying ATMs from NCR Corporation, having already installed more than 1,200 NCR SelfServ ATMs equipped with Scalable Deposit Module (SDM) technology, allowing customers to deposit both cash and checks at the same time through a single deposit slot. SunTrust expects NCR will be the sole provider of deposit automation ATMs at the bank, which the bank began deploying in the Atlanta metro area and has replaced older NCR and non-NCR models at branches in Washington, D.C., Maryland, Florida, Georgia and other major metropolitan markets throughout the past year. ATM users can deposit up to a total of 50 checks and notes in any orientation at the same time.

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NACHA Profiles Business Practices for FFIEC Authentication

NACHA Electronic Payments Association, released a resource to support financial institutions to refine implementation of the provisions of the Federal Financial Institutions Examination Council (FFIEC) Supplement to Authentication in an Internet Banking Environment. Developed by NACHA’s Risk Management Advisory Group, the release identifies sound business practices that financial institutions could use to create internal policies and procedures in response to guidance in the Supplement. The guidance requires financial institutions to complete periodic risk assessments, establish layered security controls, and educate customers on various forms of potential fraud.

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Boardwalk Fresh Burgers and Fries Deploys Cardagin mLoyalty and Rewards

Boardwalk Fresh Burgers and Fries has implemented Cardagin Networks Mobile Relationship Management (MRM) platforms to power the company’s mobile customer loyalty and rewards program. With this agreement, Cardagin will produce the first-to-market customized enterprise version of its highly successful MRM platform for Boardwalk. Boardwalk Ventures, LLC., will lead the program roll out exclusively in Southern California and Texas stores this year to complement the brand’s coast-to-coast expansion beginning at the end of July in Hermosa Beach.

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Orange Joins NFC Patent Licensing Program

Orange is now a strategic licensor for the France Brevets NFC Patent Licensing Program launched with Inside Secure. The operator has been a long-standing leader in the development and now the adoption of NFC technology, and, through their impressive research capabilities, filed many patents. Within the NFC Patent Licensing program, such patents will become available at reasonable and non-discriminatory conditions.

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Neyva Bank Dispenses Pre-paid Cards Through ATMs

NEYVA BANK launched its virtual prepaid Visa card for issuance via its ATM network. The process of card issuing is completely automated and done in an online mode. The customer can choose between three different currencies for their card and activate an SMS notification service to receive instant messages for every transaction. Virtual prepaid Visa cards will become a convenient tool that can be issued in any NEYVA BANK ATM by putting the money on the card in cash (all of the bank’s ATMs are equipped with a cash-in function and accept cash) or by transferring it from an already existing Visa card from any bank.

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Ukash Conducts Executive Appointments

Ukash Global eMoney Network appointed two senior managers to support the next stage of the company’s international growth and development.James Allum has been appointed Commercial Director and will a play a key role in developing Ukash’s international footprint, increasing distribution in both new and existing territories. Formerly Chief Executive Officer of Western Union Payments Service UK Ltd, James has more than 12 years’ global sales and marketing experience and a proven track record in business development across all areas of the payments sector. Jon Fox, who joins Ukash as Sales Director, has over five years senior management experience with WorldPay, formerly part of the Royal Bank of Scotland Group.

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Hattha Kaksekar Implements BPC SmartVista for micro-finance

BPC Banking Technologies Open System e-payment solutions for the global financial industry inked Hattha Kaksekar Limited, for which it will implement a multifunctional in-house financial transaction switch for ATM, POS and mobile payments as well as a fully-fledged card management solution with the installation of the SmartVista suite. SmartVista’s advanced capabilities with widely available channel technologies such as ATMs, POS devices and mobile phones, Hattha will not only be able to reach more customers in more places but also do it more cost-effectively. Previously, collecting loan repayments required Hattha staff to travel door-to-door, now with SmartVista Hattha will automate the process by broadening the services available through an enlarged ATM network. Customers will be able to withdraw microloans at ATMs, enjoy remote access to their accounts as well as making repayments against their microloans. Initially these new and convenient services will only be available through the ATM network but Hattha has plans to offer the same facilities through mobile phones. SmartVista’s “SmartSwitch” solution provides a real-time transaction engine for payments switching to enhance online processing capabilities.

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FIS 2Q/12 Revenue Up 3.1% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] FIS banking and payments technology posted 2Q/12 revenue from continuing operations up 3.1% to $1.46 billion, compared to $1.41 billion in 2Q/11. Net earnings from continuing operations, as adjusted, totaled $198.1 million, or $0.66 per diluted share, compared to $167.7 million, or $0.54 per diluted share, in the second quarter of…

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