MiiCard a TRUSTe Sealholder

Online identity verification service miiCard, announced that TRUSTe has certified its Web site to display the TRUSTe Web Privacy Seal, demonstrating miiCard’s commitment to transparency, accountability and consumer choice, the foundations of online privacy. miiCard joins thousands of Web sites in recognising the ability of the TRUSTe privacy seal to accelerate online commerce and information exchange. TRUSTe awards its Web Privacy Seal only to companies that complete TRUSTe certification, submit to ongoing site monitoring, and participate in TRUSTe’s consumer privacy dispute resolution program. Consumers prefer Web sites that demonstrate responsiveness to privacy concerns, set clear expectations for the processing of personal information and offer timely choice should those expectations change.

Details

Target Suspends Efforts to Sell Credit Card Receivables

Target Corporation has temporarily suspended its efforts to sell its credit card receivables portfolio, however remains committed to selling the portfolio on appropriate terms, but based on discussions with potential partners the company has determined that it is not in its best interests to finalize a transaction at this time. Later in 2012, the company expects to re-engage in discussions with a limited number of potential partners, and expects to be well-positioned to streamline those conversations based on the groundwork established in its 2011 efforts. It intends to retire the 2008 receivables financing provided by Chase Card Services, which will allow Target to market the portfolio when the company resumes partner discussions later in 2012. Target will pay Chase approximately $2.8 billion to retire this financing.

Details

Keynote Study Gauges Credit Card Issuer Websites

Keynote Competitive Research Industry Study examining the business and technical effectiveness of U.S. credit card websites concluded U.S. Bank took first place for Overall Customer Experience, while in the Technical Quality portion of the study Citi came in first for Responsiveness (Speed) and U.S. Bank took first place for Reliability. The entire study is available for immediate purchase. Winners of Keynote Competitive Research studies are invited to participate in the company’s Online Excellence Program which recognizes the “best of the best” websites as ranked in the studies. Keynote performed 6,000 total measurements for each site, for a total of 48,000 total measurements, from 12 locations in the U.S. U.S. Bank placed first in Customer Satisfaction and Online Adoption.

Details

Euronet Pakistan Launches EMV Debit Card with MCB

Euronet Pakistan launched the EMV Debit Card in Pakistan with MCB electronic banking services. With this, Euronet Pakistan is the first EMV certified processor and gateway for EMV VISA debit services in the country. With the launch of the first EMV Debit Card in Pakistan, Euronet and MCB have introduced the most secure payment method available today into the Pakistani market. EMV Debit cards use an embedded microprocessor that stores, processes and protects card holder data, including identity and account information. Prior to the launch, MCB performed stringent testing to ensure Euronet’s service center, processing systems and operational procedures met global EMV security and regulatory standards.

Details

Deutsche Bank Appointed as Depositary Bank for BG Group plc

Deutsche Bank announced its appointment as successor depositary bank for the Level I American Depositary Receipt (ADR) program of BG Group plc (BG Group), headquartered in the United Kingdom. BG Group is a world leader in natural gas, with a strategy focused on connecting competitively priced resources to specific, high-value markets. Active in more than 25 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas, transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves.

Details

Allpoint Network and TxVia Partner

Allpoint Network, a Cardtronics affiliate and operator of a surcharge-free ATM network, partnered TxVia. This provides an operating system to enable emerging payments and financial services and allows program managers looking to TxVia for transaction processing to open the Allpoint Network to their cardholders, making surcharge-free cash access a reality at over 43,000 ATMs located at America’s most relevant retailers across the United States and beyond. Systems & Methods, Inc. (SMI) was one of the first TxVia clients to enhance their prepaid card programs with surcharge-free cash access for cardholders at Allpoint Network ATMs.

Details

American Express Partners Lianlian Group

American Express partnered Lianlian Group, allowing it to implement its “Serve” next-generation commerce technology, in products and services it develops for its consumer and business customers in China. The Serve platform, which American Express will license to Lianlian Group, is expected to help power a new Lianlian Group digital wallet that consumers can use to top up mobile phone minutes, pay bills and purchase products or services. American Express has also made an equity investment in Lianlian Pay Inc., an overseas company of the Lianlian group of companies (collectively “Lianlian Group”). This offers a fast and convenient way to handle day-to-day transactions, beginning with mobile top up minutes and over time expanding into other financial products and services.

Details

G4S Awarded YourCash ATM Contract

G4S Cash Solutions (‘G4S’), the largest provider of cash solutions in the UK, has been awarded a multi-million pound contract with independent European ATM provider, YourCash Ltd. The contract will commence in January 2012 and run for a five year period and see G4S provide ATM replenishments and engineering services to 300 ATMs across the UK, 250 of which are located within the country wide network of one of the market leading petrol forecourt providers.

Details

CREDIT CARD INDUSTRY FEES RISING, AS PREDICTED

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Anyone near to the credit card business knows that banks have had their interest income business models decimated since 2008 – prompted by a “perfect storm trilogy” of depression-like recession, an improving yet still painful economic recovery, and legislative/regulatory changes which forever altered what bank cards can and cannot do. So…

Details

MoneyGram International Names New VP

MoneyGram International money transfers appointed Peter J. Caddigan its VP, Global Security and Investigations. Bringing to the role nearly 25 years’ experience working in federal law enforcement, serving in a variety of leading investigative roles, Caddigan most recently was with the Transportation Security Administration as the special agent in charge (SAIC) of the Inspections Division and then as the SAIC of the Special Investigations Unit, both in the Office of Inspection at TSA’s Headquarters.

Details

NCR Store Software Bridges Channels

NCR Corporation launched its Advanced Store software that will help retailers bridge the gap between digital and physical channels and enhance their ability to market to consumers at the POS. This will deliver personalized, preference-based offers and promotions to customers at checkout through native integration with the NCR Advanced Marketing Solution, NCR’s promotions and offer management software. This lets retailers cost-effectively power loyalty programs, create offers and drive cross-selling initiatives directly at the POS. The unification of digital and physical channels is further facilitated through technology integration with inventory management software from VendorNet Inc., which now provides retailers a cost-effective, out-of-the-box solution to link their e-commerce channels with store inventory, enabling consumers to buy on-line and pick up in store.

Details

AJB to Offer PayPal for Retail Payment Processing

AJB Software Design integrated payment solutions announced its relationship with PayPal to offer POS app programming interfaces (APIs). AJB’s Retail Transaction Switch (RTS) will provide the framework to allow the millions of PayPal account numbers to be processed as financial tender by existing and future customers of AJB. PayPal members will have the option of paying for merchandise by swiping a PayPal payment card or by entering the mobile telephone number and PIN associated with their accounts.

Details