SWIFT Launches Global Remittance Platform

SWIFT’s person-to-person payments solution is launching its “SWIFTRemit” platform to address the needs of the global remittance market. Providing a global platform for person-to-person payments, “SWIFTRemit” connects banks, money transfer operators (MTOs) and other types of supervised payment institutions over the highly secure and stable SWIFT network. The service provides the remittance industry with a business and technical framework that includes ISO 20022 message standards, to support cost-effective implementation and scalability for remittance services worldwide. It ultimately allows money transfers in cash and to accounts, cards and checks.

Details

Krung Thai Bank Implements Fiserv Management

Krung Thai Bank has selected Fiserv for asset/liability, market risk, interest rate risk, foreign exchange risk and daily bank-wide liquidity risk management. Krung Thai Bank chose Fiserv thanks its Risk and Compliance solutions, which help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include Financial Crime Risk Management, Financial Risk Management, Financial Performance Management and Financial Control Solutions. Fiserv is ranked #1 in North America and #4 overall in the annual Chartis RiskTech 100TM.

Details

Foregenix Publishes White Paper on End-to-end Encryption

Foregenix Qualified Security Assessor published its white paper outlining the benefits of End-to-End Encryption (E2EE or Point to Point Encryption) for magnetic stripe card transactions and how this can be achieved with CreditCall’s CardEase Ultra service. In it are highlights on how E2EE combats cardholder data theft, where sensitive card information is compromised by computer hackers once the data enters the POS system or while cardholder data is in transit on a Merchant’s network. Moreover, its “CardEase Ultra” uses an encrypting mag-stripe reader to strongly encrypt the card data as soon as it’s read from the magnetic stripe and provides secure card tokenisation allowing future transactions, full or partial refunds without the card needing to be present.

Details

UAE Exchange Kicks-Off Customer Service Week

UAE Exchange global remittance and foreign exchange is celebrating its “Customer Service Week” in UAE, Kuwait, Oman, UK, USA and Canada until October 7. UAE Exchange is expanding its customer base and improvement in customer retention shows that the brand, its offerings, the service levels and its locations are well accepted and preferred in the market. It shows its customers its appreciation with many gifts and surprises as means of recognizing the importance of customer service.

Details

Noble Systems Implements Semafone PCI solution

Noble Systems unified contact center technology solutions partnered Semafone secure voice transactions. This partnership allows contact centres to take voice payments without agents ever having to hear or see card details and ensures that contact centres are totally protected from any type of agent data leak via the secure voice transaction system that allows the agent and the caller to remain in voice communication throughout the call. It enables customers to enter data via their telephone keypad instead of speaking it over the phone to the call centre agent, meaning that the cardholder data does not ever enter the call centre environment. The key advantages of the solution are that the agent only hears a single flat tone on keypad entry and that they are able to stay on the telephone to assist the customer throughout the process if required.

Details

Ingenico & MoneyGram Offer Money Transfer

Ingenico payment solutions partnered MoneyGram International money transfer to offer money transfer services throughout the Sepa Europe Region through Ingenico Prepaid Services. With this, Ingenico Prepaid Services expects to implement this Money Transfer service in about 100 of its partner points of sales. The MoneyGram service meets the needs of a population of immigrants and immigrant descendants of more than 6 million people in France who want to transfer money quickly and economically to relatives in their countries of origin.

Details

Cashzone Inks Roadchef ATM

Cashzone independent ATM provider will retain and add to the ATMs it operates at the First Motorways sites newly acquired by Roadchef Motorway Service Area (MSA) operators. Roadchef’s acquisition of First Motorways in August added the Magor MSA, at junction 23A of the M4, and the Symonds Yat trunk road site on the A40 to its portfolio of sites, increasing its motorway service area estate to 20 locations across the UK.

Details

Discover Consumer Confidence Index Nears Record Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Discover U.S. Spending Monitor dropped to its lowest level since February 2009, having recorded a 3.5 point drop to 77.0%. Only 1.3 points higher than the record low reported in February 2009, The Monitor also shows 66% of consumers rated the economy as poor, up 2 points from last month…

Details

Heartland Puts Figures to Durbin Impact

There are now solid numbers to fall back on regarding the Durbin Amendment swipe fee reform impact. Confirming it reduces processing cost, Heartland Payment Systems saved its merchants a total $1,779,568 in debit interchange reductions across the U.S. and estimates its average merchant will save more than $1,000 in the first year alone. Additional findings following the October 1 implementation show 65% of Heartland’s signature debit sales volume qualified as regulated; there is a savings of $0.21 per transaction for regulated (vs. non-regulated); the average signature debit non-regulated interchange fee per transaction is $0.44; and the average signature debit regulated interchange fee per transaction is $0.23.

Details

American Express Intros Currency Exchange at Boston Logan

American Express Foreign Exchange Services will provide a range of Currency Exchange services to travelers at Boston Logan International Airport. With this, six permanent Currency Exchange locations and a mobile cart will serve the 4 million annual international travelers throughout the check-in area, landside arrivals, orientation area, and airside departures within the terminals with the seventh permanent location to be open soon. Services will include foreign cash sales and buybacks; prepaid products such as American Express Travelers Cheques sales and encashments, and American Express Gift Cards; and Travel Insurance.

Details

Visa Adds Seasoned Mobile Payment Veteran

Visa appointed Gavin Krugel to its global mobile team to support the activation of mobile money programs for Fundamo customers, where he was previous and which was recently-acquired by Visa. The Fundamo mobile money platform extends Visa products to unbanked consumers in developing economies. The platform specializes in the implementation of mobile money services across developing markets in Asia Pacific, Central Europe, Middle East and Africa. Gavin was also senior director at the GSMA, the global association that represents the worldwide mobile industry, where he led the GSMA’s mobile money efforts in international remittances and in making financial services available to the unbanked through mobile, such as the Mobile Money for the Unbanked and Mobile Money Transfer initiatives.

Details