Despite Slow Growth in Jobs, Consumers Rack up the Debt

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.54 trillion in outstanding US consumer debt-up a jaw-dropping 10.2% since February- total outstanding revolving credit was up 7.8% in March for a steep jump from $798.5 billion in February to $803.6 billion. This compares to the year ago figure of 790.6 and comes as unemployment improved marginally…

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GlobalPlatform Names TEE Compliance Work Group Chair

Stephanie El Rhomri, New Services Marketing Manager at GlobalPlatform qualified laboratory and secure chip test tool provider FIME, has been appointed as the Trusted Execution Environment (TEE) Compliance Work Group Chair for industry association GlobalPlatform. The TEE is a secure area that resides in the main processor of a mobile device, such as a smart phone, and ensures that sensitive data is stored, processed and protected in a trusted environment. It will offer greater security to the screen and keyboard of a mobile device, protecting against attacks and offering the secure storage of sensitive information.

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HSBC Appoints Head of U.S. Payments/Cash Management

Michael Cummins has been appointed the HSBC head of Payments and Cash Management in the United States. He will oversee all aspects of the U.S. Payments and Cash Management business, including sales, product strategy and innovation, client and business management and risk and control management. Most recently with J.P. Morgan Chase where he spent 20 years in the treasury and commercial businesses at the bank and its predecessors, he served as a managing director and sales executive in J.P. Morgan Treasury Services with oversight of the Corporate Client Banking segment. In previous roles, Cummins holds a Bachelor of Science degree in business administration and an M.B.A. from Columbia University.

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Euronet Deploys Independent and Shared Auto Deposit Terminal Networks

Euronet Worldwide payments provider has deployed its first Independent and Shared Automated Deposit Terminal (ADT) Networks in Poland and Romania. Euronet’s new Independent ADT Networks in Poland and Romania feature off-site ADTs located in high-traffic retail locations which have extended hours, making access more convenient than traditional bank branches. ADTs allow customers to enjoy real-time access to their funds, reduced wait times at the bank branch and a variety of deposit types including account deposits and deposits for credit card or loan payments, with additional transaction types to be supported in the future.

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U.S. Bank Launches iPad Banking App

U.S. Bank has released a new banking application that is designed specifically for iPad users through the iTunes store. This lets customers deposit checks using the iPad’s camera, just as they can in the iPhone and Android apps, in addition to making person-to-person payments, viewing account balances and transactions, paying bills, making payments to other U.S. Bank accounts such as their mortgage and car loans, and reviewing rewards information. The iPad app was created in partnership with Fiserv using its Mobiliti platform.

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OmniPay Awarded Four Times at US Payments Event

OmniPay,global payments processor has won four awards at the 2012 Card Not Present (CNP) Expo due to its unique ability to provide a single global platform and service supporting the multi-currency processing requirements of many of the world’s leading merchant acquiring banks, payment processors and eCommerce merchants. OmniPay was the only company to win four awards, namely customer choice for best processor, customer choice for best chargeback management solution, first runner up for best CNP program outside the US and first runner up for best chargeback management solution. OmniPay won the best processor awards for a number of reasons highlighted by the CNP judging panel, including; Operating the largest single global end-to-end and fully integrated payments platform; Best-in-class, pioneering multi-currency processing platform and service that is unmatched in the industry; Optimal transaction interchange qualification and economies of scale ensure a low cost, high value payments processing service for each customer; OmniPay employs the most knowledgeable and experienced global payments team, managing more than one billion transactions per year; and OmniPay won the best chargeback program awards in recognition of the highly innovative system it has developed to enable banks to automate otherwise very manually intensive business processes.

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U.S. Bank Implements Fiserv Tablet Banking App

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fiserv, a leading global provider of financial services technology solutions, announced that U.S. Bank’s online banking customers now have access to an iPad® banking application (app) built on the Mobiliti Enterprise™ mobile banking and payments platform from Fiserv. The U.S. Bank app serves consumers’ growing interest in tablet banking. According to…

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L2C Secures Strategic Investment

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] L2C, a consumer scoring and analytics company offering standard and customized analytical solutions for the consumer credit industry, announced today the closing of a strategic investment by Core Innovation Capital, the investment partner of the Center for Financial Services Innovation (CFSI). The financing will be used to build out additional analytical…

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NASA and National Archives to Join American Express on Big Data Strategies

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] On June 12-13 2012, Text Analytics News will host its 8th Annual Text Analytics Summit East at the Revere Hotel (formerly Radisson Boston), to discuss the latest developments in text analytics, social media analytics and big data management strategies. Two months ago, the US Government pledged more than $500 million over…

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Vantiv certifies Ingenico POS EMV Terminals

Ingenico payment solutions and Vantiv payment processing services and related technology solutions for financial institutions partnered to deploy the Ingenico “Telium” POS products coupled with Vantiv point-to-point encryption (P2PE) solution. In a proactive move to facilitate the migration to more secure EMV chip-based and NFC mobile payments in the U.S., the two companies collaborated and completed the Class A certification of the Telium series devices. The certification covers a comprehensive range of Ingenico’s Telium devices including iCT220 & iCT250 countertop terminals, iWL220 & iWL250BT (bluetooth) wireless devices, and iPP220 & iPP320 PIN pads. The Telium range comes with all payment technologies already embedded such as contactless and NFC and ready to activate, with the ability to accept EMV, NFC, contactless and traditional magnetic strip cards.

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ABN AMRO Partners to build Payments System

Temenos banking software plans to develop a new payments system in conjunction with ABN AMRO Bank. Based upon the Temenos Enterprise Frameworks Architecture (TEFA), which provides the platform for Temenos’ market-leading T24 core banking software, the new system will be implemented globally at all of ABN AMRO’s international locations. The payments system will also be available as a standalone solution, operating seamlessly and in real-time with any core banking or checking accounts system. This will provide fully integrated and comprehensive support for all wholesale payments in all international locations. This global 24/7 solution will provide ABN AMRO with the highest levels of straight through processing (STP) for all payment types. The payment gateway will handle different payment schemes, formats and protocols and will allow new payment channels to be linked. Temenos has experience of implementing core banking systems in over 125 countries; this will be leveraged to provide support for a wide range of different domestic payment schemes.

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