PayLife completes cards migration to SIX platform

SIX Card Solutions, part of SIX Group and a leading European payment processor, and PayLife cashless payments completed its migration of merchant-related systems and debit cards. The project began in April 2008 after PayLife decided to abandon its long-term proprietary processing platform and assigned SIX with the processing of its debit cards, ATMs and POS terminals. SIX and PayLife started a migration project that included extensive customisation to meet the specific requirements of Austrian cashless payments. SIX’s state-of-the-art acquiring and issuing processing platform has been handling all payments made with Austrian Maestro debit cards and transactions conducted at PayLife POS terminals since October 2011. The phased migration spanned three and a half years and a total effort of 180 person years, highlighting the scale of the project. All cash withdrawals and related transactions through the Austrian ATM network (Bankomat), which includes approximately 7,600 cash machines, were already being processed by SIX since March 2011.

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NFC phones to hit 80mm in 2012

The number of NFC-enabled phones shipped in 2011 totaled 35 million globally while significant market events will drive that number to nearly 80 million by the end of 2012. This, according to a new report by IMS Research, is driven by such developments as the launch of Google Wallet in the US; the French Government funding NFC in France; Orange planning to sell 500,000 NFC-enabled cellular handsets in France by the end of 2011; and Orange UK and Barclaycard’s “Quick Tap” contactless payment solution.

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TSYS Releases White Paper on M-Payments and Prepaid Services

TSYS completed its ‘M-Payments and Prepaid Poised to Define Financial Institutions’ Delivery of Banking & Payment Services to Rural India’ white paper. Addressing key imperatives that will enable m-payments to fulfill their promise in India, the paper offers insights from TSYS-sponsored market research with Evalueserve, and explores how the untapped market opportunity of m-payments can act as both a significant market opportunity for financial institutions (FIs) and a great equalizer for consumers in rural India. It discusses the key market indicators highlighting the sea change underway in electronic payment transactions, specifically m-payments, such as the promise of frugal innovation as an alternative to expensive infrastructure investments and the high and rapidly rising mobile tele-density.

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Multicard Implements Neumann Fuel Card Program

Multicard credential solutions, identity management and system integration services implemented a new fuel card program for Neumann Petroleum. With this, Multicard has rolled out the payment system to 130 locations throughout Queensland and New South Wales, Australia. The credit-based fuel cards are used by long-distance trucking fleets and individual consumers alike and can be used to purchase fuel and other items.Customers will be able to apply for the fuel card online, and once an application is approved, a request is sent automatically from Neumann’s ERP system to the Multicard Bureau Service, where a customized transaction card is personalized for the new customer account and each nominated cardholder and mailed out by Multicard. All transactions are batch uploaded from the POS terminal to Multicard Manager.

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CardWeb Gives Carddata Publication Fresh New Look

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Providing the most relevant and reliable figures in the payment industry, CardData, the CardFlash publication focused on payment industry statistics and trends, has been completely redesigned. Not only does the fully-redesigned site provide more extensive, useful and in-depth data, it does so with better looking graphics and images. Refinements are abundant,…

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2011 U.S. Credit Card Chargeoffs 40% Lower Than ’10

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit card chargeoffs fell to 5.51% through the end of October, much lower than the 9.20% the year ago period, and are projected to finish the year 40% lower than in 2010. At 11.28% it is nearly double the long-term average of about 6% recorded since the inception of the Fitch…

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Heartland Payment Inks Five-Year ConocoPhillips Contract

Heartland Payment Systems payments processor inked a five-year contract with ConocoPhillips, expanding its Network Services group to continue to authorize debit and credit card transactions. With this, it will also begin settling Visa and MasterCard credit card transactions at ConocoPhillips-branded locations nationwide. The expanded card processing agreement is being supported by a new partnership between Heartland and Barclays Bank Delaware, the U.S. operation of Barclaycard, which will be delivering the payment network sponsorship services for the ConocoPhillips transactions.

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First Data Intros New Online Payment Gateway

First Data electronic commerce and payment processing launched its “Global Gateway e4” online payment gateway. Designed to address eCommerce merchants’ business needs, the gateway offers a safe and reliable solution for card-not-present transactions and includes a comprehensive suite of payment services with the ability to expand payment acceptance globally. The First Data “Global Gateway e4” gives merchants a broader set of processing capabilities, a more intuitive user-interface, greater reporting capabilities and simplified integration, documentation and processes to make them more competitive in today’s marketplace. It also delivers multicurrency processing, Level III support for business-to-business procurement cards, fraud tools and an added layer of security with our TransArmor tokenization solution.

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Intel Implements Inside Secure NFC Solution

Inside Secure semiconductor solutions for secure transactions and digital identity entered into an agreement with Intel Corporation to provide the company with Inside’s NFC products and technologies. This gives Intel access to INSIDE’s software, firmware and core hardware technology for development of future Intel products. In addition, INSIDE will provide Intel’s Mobile Wireless Group with access to scalable NFC solutions based on INSIDE’s MicroRead(R), SecuRead(R) and Open NFC(TM) products. A third-generation product that sets a new standard for ease of integration, the MicroRead NFC controller offers a broad range of NFC options and provides the capacity to support multiple secure element types, including SIM, SE or SD card, to support multiple business models.

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ROAM Data Launches Secure mCard Reader

ROAM Data encrypted mobile card readers and mCommerce platform-as-a-service provider has launched its “G3X” secure mobile card reader. The “G3X” is ROAM’s third generation mobile reader and supports hundreds of devices, from iOS, Android and Blackberry, to PCs and Macs. This lets Merchant Service Providers compete with the best technology for a whole new segment of mobile merchants and small merchants previously untapped, a market that companies like Square are aggressively pursuing. ROAM has sold more than 400,000 mobile reader units to Intuit, North American Bankcard, Sage Payments, NPC, Total Merchant Services, First Data, Chase Paymentech, Global Payments and others.

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USA Technologies Provides Preliminary 2Q/12 Revenue

USA Technologies wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retailing industries expects 2Q/12 revenues of between $6.8 and $7.0 million, an increase of 13% – 17% from year ago figures of $6 million. The Company anticipates processing 25 million transactions during the second quarter, representing volume of $41 million in the second quarter, both of which would represent growth of greater than 50% from the fiscal year 2011 second quarter. The Company earns transaction processing fees equal to a percentage of the dollar volume processed by the Company, which are included as licensing and transaction processing revenues in its Consolidated Statements of Operations.

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Mobile Banking Approaches Vary, Slated for Major Growth

Having evaluated the plans of 10 banks and credit unions that in total hold more than one-third of all U.S. deposit accounts, Fiserv research concluded mobile banking is taking off. Remote deposit capture and mobile person-to-person payments will account for the bulk of mobile investment in 2012, which financial institutions are moving to meet with more robust mobile banking and payment solutions. Nine out of ten of the financial institutions already have a mobile banking offering that provides basic account access, and almost all provide ATM/branch locators, transfers between accounts and bill payment. For 2012, financial institutions plan to focus on delivering remote deposit capture, actionable alerts, which allow recipients to initiate an action such as a funds transfer in response to an alert about a low balance, and additional payment capabilities. Eight of ten surveyed institutions plan to invest in some type of mobile payments in the next 12 months.

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