GlobalCollect Offers BOKU mPayment Checkout

BOKU and GlobalCollect online payment services in the eCommerce market, announced today GlobalCollect has selected BOKU as its global mobile payments partner. The partnership integrates BOKU’s payments platform into GlobalCollect’s international payment network, allowing online merchants to accept mobile payments at checkout. Using BOKU’s bank-grade mobile payments technology, GlobalCollect merchants can enable their customers to make purchases online via their mobile phone number; charges appear on their operator bill. The partnership with GlobalCollect reinforces mobile payments as a mainstream payment vehicle helping merchants to acquire new customers, and provides consumers with a simple and seamless checkout experience.

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Brightwell Payments Adds EMV Euro Card

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Brightwell Payments, Inc., a payments company offering comprehensive prepaid debit card solutions, announces the addition of an EMV Euro card to its maritime payroll program, OceanPay. The new OceanPay Prepaid MasterCard settles in Euros and was implemented onboard Crystal Cruises in April. The OceanPay Prepaid MasterCard compliments the program’s existing USD…

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Paysafecard Expands Internationally

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Europe’s leading prepaid payment method, paysafecard, is now available in Turkey. paysafecard group’s main product allows fast and secure payments for online games and other Internet services. Personal data, credit card or bank account details are not required. More than 3,500 online shops accept paysafecard worldwide. “The market launch in Turkey…

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April Credit Card Direct Mail Volume at 2+ Year Low, Experts Say Temporary

In April 2012, 260 million offers for new credit cards were received by US households, down 33% from the 390 million offers US households received during April 2011 to the lowest volume recorded in over two years and a continued decline from the winter of 2011. Credit card direct mail is cyclical, with volume trends reflecting the peaks and troughs of the Dow as a barometer for the health of the US economy. Considered a ‘pause’ by experts, once the long term outlook for the economy gains more solid footing, confidence will return and direct mail will witness growth in volume.

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CFSI Tool Guide Seeks to Improve Prepaid Card Quality

Center for Financial Services Innovation (CFSI) aims to help financial service providers improve the design and delivery of prepaid cards with the Compass “Guide to Prepaid,” the first of a series of tools and resources CFSI plans to issue on how to apply the Compass Principles- a set of guidelines finalized in a white paper by CFSI in April 2012- across various financial service products. In 2011, prepaid card use increased by 18 percent.[1] By 2013, the amount consumers load onto prepaid cards is expected to jump 44 percent.[2] Prepaid cards account for a large portion of the financial services industry”particularly among the underbanked population. Because of the revenue potential, many larger financial institutions are entering the prepaid market, increasing the need for guidance around developing high-quality products. The practices outlined by the Guide cover all aspects of a prepaid account, including Marketing and Communications, Customer Service and Account Information, Pricing Design and Distribution Channels and Product Acquisition.

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CloudLock Launches PII and PCI Compliance Scan for Google

CloudLock, the cloud data loss prevention (DLP) company, announced its industry-first pattern matching engine that identifies, classifies, and secures sensitive information, including Personally Identifiable Information (PII), Payment Card Industry (PCI) data and custom regular expressions, allowing Google Apps customers to address auditing and compliance requirements in Google Drive (Docs). PII is data that can be used to uniquely identify, contact, or locate a single individual. CloudLock’s PII and PCI Compliance Scan allows customers to identify files containing Social Security Numbers, Credit Card information as well as any custom patterns/regex that they can define such as Product SKUs, postal codes or any other pattern.

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Square Appoints New CFO

Square, the company revolutionizing everyday transactions between buyers and sellers, has hired Sarah Friar to be the company’s Chief Financial Officer. Friar was most recently the Senior Vice President, Finance & Strategy, for enterprise cloud computing leader salesforce.com. Sarah holds a Masters of Engineering from Oxford and a Masters of Business Administration from Stanford. Over 1 million individuals and businesses are able to accept credit cards with Square, which is now processing over $6 billion in payments on an annualized basis.

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Acquirer Systems testing platform gets Diners Club qualification

Acquirer Systems test and validation solutions that provides Card Issuers and Acquirers test environment to simulate end-to-end payments ecosystem announced its “ASTREX” acquirer and issuer host testing platform is now qualified for “D-PAS” Diners Club International’s EMV-compliant payment specification. The Diners Club EMV specification is being rolled out internationally, affording issuers, acquirers, merchants and cardholders the additional security and functional benefits that EMV offers over magnetic stripe cards. EMV’s inherent security and enhanced configurability presents an unprecedented opportunity for card product innovation to meet the growing demands of cardholders in a competitive market. ASTREX now supports the deployment of D-PAS by offering a real-time end-to-end EMV payment emulation environment allowing Issuers, Acquirers and Payment Service Providers to independently simulate, test and validate the full range of payment transactions for card-scheme EMV compliance.

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U.S. Agency for International Development & Citi to Accelerate mMoney Adoption

The U.S. Agency for International Development (USAID) and Citi announced a global partnership to broaden financial inclusion by fostering the rapid adoption of “mobile money” technology in developing countries. The announcement was made at USAID’s Frontiers in Development Forum at Georgetown University. Of the five billion mobile phone users worldwide, nearly two billion lack access to banking services, instead relying on cash transactions that expose them to potential theft, fraud or loss, and high-cost lending and remittance providers that leave them vulnerable to endless debt and high fees. USAID and Citi will work with governments, donors, industry and other participants in the payments system. USAID expects to continue to support local mobile money platforms with over $23 million, and Citi will integrate its core banking services with mobile money platforms to provide seamless integration between banking and last-mile, mobile-based payments services.

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Intuit Launches mBanking Purchase Rewards

Intuit Financial Services “Mobile Purchase Rewards” feature for mobile phones now lets customers save with customized merchant-funded discounts or rewards that are based on their personal buying habits. Customers then simply swipe their bank- or credit union-provided ATM/debit card to redeem and save money. The savings are then automatically deposited back in the customer’s checking account at the end of each month. Users can earn unlimited cash back through “Purchase Rewards” and complete end-to-end security so no personally identifiable information is shared with outside parties. The new Mobile Purchase Rewards capability adds to the robust set of mobile banking tools Intuit offers to banks and credit unions.

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4sight releases corporate action processing modules

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] 4sight Financial Software, a leading provider of software and consultancy to the Securities Finance and Collateral Management markets, has developed a new suite of corporate action processing modules for its 4sight Securities Finance and Collateral Management solution. The new modules provide a greater level of automation and workflow processing, with the…

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