Fundtech and HDFC Bank Win Asian Banker Award

Fundtech global transaction banking solutions announced its “Global CASHplus” won The Asian Banker’s award for Best Corporate Payments Implementation Project. The solution provides a real-time web services-based channel, which enables the bank’s partners to aggregate remittance transactions and send them to HDFC Bank in a secure environment. The Global CASHplus provides a high degree of automation replacing many time-consuming manual processes, automated transaction initiation, automated acknowledgement, rejections where necessary and online transaction status. It provides cash management, financial supply chain and trade, and remittances solution. The platform offers an integrated suite of features with rich functionality and scalability that is deployed on a modular basis.

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Card Chargeoffs & Delinquencies Drop like a Rock

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Despite all the dismal data on consumer behavior lately, U.S. credit card ABS performance saw positive gains in May as late stage delinquencies reached six-year lows to only 2.14%, a nine basis point (bp) improvement for a 27% improvement from the year ago period. Delinquencies more than 30 days past due…

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U.S. Bank Launches Cobranded Card App

U.S. Bank has introduced an app for Android allowing retail partner customers to apply for a credit card while they are shopping, which they can use for purchases before they leave the store. U.S. Bank plans to continue to roll out the U.S. Bank Card App for Android and iPhone to other cobranded partners in 2012. The Android version of the REI app, called the “REI Visa App,” is free and available from REI’s website and at Google Play. The app allows consumers to easily apply for a U.S. Bank REI cobranded credit card and access a secure, virtual credit card via their mobile phone.

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Bank of America Serves 10mm mBanking Customers

Over 10 million Bank of America customers are now using mobile banking, representing growth of nearly 3 million active users over the last 12 months. Bank of America’s mobile banking customers have the ability to check account balances, transfer funds, pay bills and find the closest ATM, all from their mobile device. Bank of America was among the first to launch mobile banking apps for Apple, BlackBerry and Android devices and the only bank that has deployed a tablet‐specific app for all three platforms: Apple, Kindle and Android.

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VeriFone & PayPal Partner on Alternative Payments to Large Retailers

VeriFone Systems and PayPal signed licensing, marketing and implementation agreements for PayPal acceptance at large retailers nationwide. This provides PayPal with unprecedented access to over one million high volume Verifone POS, giving retailers the opportunity to converge e-commerce and retail payments into a new shopping experience for consumers. Shoppers will be able to utilize the existing spectrum of PayPal payment methods at checkout, including using a PayPal Access card and PIN or entering a phone number and PIN. The VeriFone solution is future-proof so that adding new options, such as NFC, will be easy to implement when they become available.

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Wells Fargo Launches P2P Money Transfer Service

Wells Fargo & Company announced the launch of Send & Receive Money, a new service allowing customers’ payments to other Wells Fargo and Bank of America customers through online and mobile banking using an email address or mobile phone number. Wells Fargo customers no longer need to know their recipient’s account number at Wells Fargo or Bank of America. Customers can use their recipient’s mobile phone number or email address to initiate a person-to-person payment via clearXchange, which was formed to facilitate the movement of funds between bank customers to better meet their needs.

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ACI Launches Improved Acquirer Platform

ACI Worldwide payments solutions launched its improved “ACI Acquirer” multi-currency system for managing merchant accounts, histories and settlements. The enhanced ACI Acquirer offers greater support for U.S. taxation requirements, enhanced interchange fee processing and expanded features for merchant settlement delay and deposit reserves. ACI Acquirer enhancements are complimented by the launch of the newest version of ACI Interchange™, the company’s central monetary transaction manager for clearing card transactions. Both solutions ensure that acquiring banks and processors remain current with the latest regulatory developments in the U.S. market. This increases customers’ ability to operate seamlessly in today’s highly competitive merchant acquiring environment. ACI Issuer, ACI Acquirer and ACI Interchange are installed at more than 70 customers in North America, Europe and Asia.

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Equinox Teams PayPal for In-Store Checkout

Equinox Payments payment terminal and secure applications provider partnered PayPal to allow consumers to pay with PayPal at large retailers using Equinox’s next-generation PCI 3.x Certified L5300 and L5200 consumer-facing payment terminals. In doing so, Equinox has integrated the PayPal Card and Card Free payment solution into the code base platform for all L5300 terminals. Those retailers that have already deployed the L5300 can take advantage of the Equinox Remote Key Injection System to update their terminal software and activate the PayPal solutions. Equinox technology securely updates terminal software that requires new symmetric keys without having to take the terminal out of the checkout lane and shipping it to a secure key injection facility.

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WebMediaBrands Announces Final Program for Smartphone & Tablet Games Summit

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] WebMediaBrands announced the completed conference program for its Smartphone & Tablet Games Summit (#smartgames), to be held on June 26, 2012 at the Mission Bay Conference Center in San Francisco. The conference program covers tactical mobile gaming tips, design tactics, successful monetization strategies, and methods for improving customer acquisition and distribution…

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DFC Global to Present at Investor Conferences

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] DFC Global Corp., a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, announced that the Company will participate at the following investor conferences: Jeff Weiss, Chairman and CEO, and Randy Underwood, Executive Vice President, will present at the Stephens 2012 Spring Investment Conference…

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Western Union Highlights Strategic Initiatives

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Western Union Company held its Annual Meeting and reiterated the company’s strategy while emphasizing its commitment to expanding and evolving the business. “I believe Western Union has the assets, capability and drive to be a truly customer-centric organization,” said President and CEO Hikmet Ersek. “I look forward to continuing to…

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