sQuid Gives Students New Smart Card

West Cheshire College is providing students an all-in-one contactless sQuid card for a cashless transaction card, an ID card, a shop and leisure discount card and a pay as you go travel card. The new sQuid card has been developed in partnership with sQuid, the eMoney payments network, along with Cheshire West and Chester and Ellesmere Port’s Development Board. Developed by Cheshire West and Chester Council, the Charisma scheme will enable students to receive discounts from businesses across West Cheshire including Chester, Northwich and Neston who have signed up to offer discounts.

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SELECTCORE BUYS INTO PAYMENT PROCESSING

SelectCore telecom and financial services provider and transaction processor for the under-banked consumer market executed a binding Letter of Intent to acquire the assets of an arms-length Canadian payment processor. The assets to be acquired will consist of all merchant contracts, all processing agreements, all hardware and software, all accounts receivables, goodwill and all other assets used in the business of the vendor (the “Assets”).

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WESTERN UNION LAUNCHES E-WALLET

Western Union is set to launch electronic wallet for clients of Western Union Business Solutions. The technology supported by hyperWALLET’s global payment platform will allow clients using Business Solutions’ Online FX platform to add and hold funds on balance for future use and enable them to make simple email payments to international recipients. The technology will help businesses create a closed loop ecosystem enabling the reliable transfer of funds between senders and receivers.

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POS & LOYALTY PROGRAMS HELP RETAIL IT SPENDING

The Retail sector is posing a great opportunity for IT marketers at its transition stage from unorganized to organized format. India spends maximum on business specific application followed by front end customer interaction and back end support function. There has been a rapid expansion of organized retail formats and the concept of shopping is moving in and around hypermarkets, supermarkets, and specialty stores. India is witnessing a changing lifestyle, increased incomes, the demographic variability and vibrant democracy which have helped retail sector to grow and to take the shape of modern retail. The modern retail market is estimated $200 billion in the year 2014-15 which is over 30% of total retail.

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GlobalCollect Appoints Senior Credit and Risk Officer

Stephen M. Buechner has been appointed Senior Credit and Risk Officer with GlobalCollect. As a member of GlobalCollect’s Executive Council, Buechner oversees GlobalCollect’s overall risk and credit governance and manages global compliance schemes such as PCI DSS. Prior to this, he served as the Head of Risk for Global Payments at Barclays PLC, where he was responsible for defining and implementing the risk management framework for Barclays Spain, Italy, Portugal, Germany, and France. He also held broad leadership positions within Barclays overseeing implementing payment risk strategies at Barclays’ Global Payment Operations Processing, and managing the payments principal risk remit across the Global Retail Bank.

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First Data Implements VeriFone POS

VeriFone Systems has been selected by First Data Corporation as the exclusive provider of Class A Point-of-Sale (POS) payment acceptance systems in the Caribbean region. First Data is partnering with VeriFone to develop applications for VeriFone’s “Vx Solutions” and “VX Evolution” countertop, wireless and PIN entry systems. First Data intends to expand its product offering to include the most advanced payment system hardware and software technology throughout the region with a strong focus on security and authentication for Caribbean businesses.

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VISA FORGES ALLIANCE WITH MONTISE

Monitise is further strengthening its alliance with Visa Europe, which is investing GBP24.7 million in Monitise at an issue price of 35p per share for 70.5 million new Monitise shares. With this, Visa Europe President and Chief Executive Peter Ayliffe, will join Monitise’s Board of Directors. Monitise also announces it has agreed to acquire the 51% stake in its US joint venture, Monitise Americas, held by Metavante Corporation, a subsidiary of Fidelity National Information Services Inc. (NYSE: FIS) (“FIS”). FIS is one of the world’s largest global providers dedicated to banking and payments technologies. In consideration for the purchase, Metavante will be issued with a 3.3% stake in Monitise plc. Completion is conditional on shares being admitted to trading on AIM. Monitise’s acquisition of the 51% stake in Monitise Americas values that business at $29.4 million.

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DHASATRA Expands Xpress Money Network

Xpress Money Instant Money Transfer entered into an agreement with DHASATRA Indonesian Remittances, expanding its network by an added 4000 locations to the existing 8000 Xpress Money locations in Indonesia through PT POS Indonesia, as well as offer account credit services to over 130 banks. DHASATRA Indonesian Remittances offers efficient pay-out services that make the money transfer simple. Remittances sent before 3 o’clock on weekdays and before 12 o’clock on Saturday will be credited within an hour on the same day of the transfer. Both XM and DHASATRA are known for their excellent support systems and call centres that ensure a smooth payout process.

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Western Union Assumes Control of Finint S.r.l.

Western Union global payment services acquired Finint S.r.l. Finint manages more than 10,000 subagent locations across Italy, Spain, and the United Kingdom. Western Union previously owned 30 percent of the company prior to acquiring the remaining 70 percent. The transaction complements Western Union’s acquisitions of leading European network agents FEXCO in 2009, and Angelo Costa S.r.l. earlier this year.

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Russian Standard Implements Welcome Real-time

Russian Standard Bank (RSB) launched its RSB+ loyalty platform which is based on technology from Welcome Real-time, the global leader in innovative loyalty solutions. Set to reward RSB’s 23 million cardholders every time they use their card across a range of acquiring partners, the program allows the Bank’s partners to build their own targeted and cost-effective promotions, offering cardholders discounts or the opportunity to earn points and coupons in real-time at the point of sale. RSB will be using Welcome Real-time’s proven Welcome XLS software to run and manage the campaigns and track rewards for all cardholders across all retailers participating in the scheme. Welcome XLS offers real-time integration with any point of sale device used by participating retailers, regardless of the payment application or infrastructure being used.

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Alfa Bank Deploys BPC Contactless Visa Payment

BPC Banking Technologies Open System e-payment solutions completed its certified Visa PayWave launch as Alfa-Bank finishes implementing chip technology. The BPC SmartVista Alfa-Bank offers customers speed and convenience of contactless payments at the POS, namely with the BPC “SmartIssuer” full end-to-end card management including rapid product development, application processing, cardholder servicing and, in conjunction with SmartPro, card personalization and production for all card types, including EMV.

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Heartland Sees Performance Growth in 3Q/11

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Heartland Payment Systems payment processors posted 3Q/11 net earnings of $12.6 million with a net Income of $12.7 million, compared to the year ago figure of $8.0 million. Meanwhile, revenues hit $532 million, up from the year ago figure of $499 million and the $526 million posted in 2Q/11, while merchant…

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