Signature Bank Implements Amex FX Payments Platform

Signature Bank is using American Express FX International Payments Platform to process online orders for international wire transactions by Signature Bank corporate customers. These customers can place orders from Signature Bank through the online platform of American Express, featuring a secure online platform to send wire payments in USD or foreign currency; file upload with the ability to store repeat wire and beneficiary information saving time; and email notification to beneficiaries when a payment is initiated and complete.

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CHARGE Anywhere PA-DSS App-Certified on Windows Mobile

CHARGE Anywhere secure mobile payment and payment gateway solutions is PCI SSC-certified with the Payment Application Data Security Standard (PA-DSS) program. The CHARGE Anywhere Payment Application for Windows Mobile merchants can turn any Smartphone or Tablet into a fully functional, secure, and intuitive point-of-sale terminal. The Windows based credit card processing solution gives businesses the freedom to securely process and manage credit card transactions from their mobile devices. The exclusive solution allows users to capture and download mission critical business data above and beyond traditional credit card data such as signature, invoice number, employee number, tips, GPS location and more.

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Merchant Warehouse Announces Best Practices for Small Businesses

When the Federal Reserve’s new regulations on interchange fees take effect this month, limiting how much issuing banks can charge merchants for accepting debit card transactions, small businesses will be affected through a number of variables. Merchant Warehouse credit card processing and merchant account services announced some of the best practices merchants can implement in response to the regulation. The recommend merchants examine data and figure out the percentage of credit versus debit card transactions being processed. They also should analyze monthly statement and compare it to a statement from month’s previous for savings.

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MerchantAnywhere Launches Swiping and Receipt Printing Solution

Advanced Merchant Solutions launched a payment solution for Apple’s mobile operating system with its latest software, “Pocket Verifier Professional.” Available as a free download on the Apple App Store and is designed to work with the company’s new iMerchant Card Reader and Thermal Receipt printer, the Pocket Verifier/iMerchant system enables any mobile business user to avoid the high cost of “card-not-present” transactions and eases the concerns of customers by allowing printed receipts. AMSI further integrates this system into a complete solution by packaging it with a combined merchant and gateway account, with e-commerce, and no upfront costs, no term commitments, or cancellation fees.

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BillMyParents Names New Chairman and CEO

Michael R. McCoy has been appointed Chairman of the Board of Directors and Chief Executive Officer with BillMyParents payment solutions. Having most recently served as the President and Head of Wells Fargo Consumer Credit Cards, McCoy’s appointment follows a series of high profile marketing campaigns targeting parents of teens and tweens with particular emphasis on moms. BillMyParents entered into a partnership with Procter & Gamble’s marketing agency Tremor, whose Vocalpoint network of 600,000 interactive moms is expected to give BillMyParents brand exposure to as many as 2.5 million moms in the US. He previously served as Executive Vice President, Human Resources and Communications for the Wells Fargo Home and Consumer Finance Group, where he led major administrative functions for all businesses associated with the 50,000-member organization focused on mortgage banking, credit cards and consumer finance.

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Mobeam Closes $4.9 million of Series A funding from yet2Ventures, Samsung Ventures, Mitsui

mobeam closed a $4.9 million Series A venture round, receiving funding from yet2Ventures, Samsung Ventures and Mitsui, together with other independent investors. mobeam’s patented technology overcomes the technical barrier preventing mobile phones from interacting with the laser scanners used at retail locations around the world. Funds from this multimillion dollar funding round will be used to establish mobeam’s light based communications (LBC) technology as a new industry standard allowing mobile phones to interact with point of sale (POS) technology. mobeam’s patented light based communication (LBC) technology utilizes LED technology already used on the vast majority of handsets to transform barcodes into a beam of light that every laser scanner can read. This technology makes it possible for a phone to present a coupon that can be easily and conveniently scanned and redeemed, without the need for retailers to upgrade their technology.

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JCB International Opens Middle East Branch

JCB international payment opened its first branch office in the Middle East in Dubai, the United Arab Emirates (UAE). From here, JCB will manage card issuing and merchant acquiring, building on its growing market presence since 1987. The first JCB card in the Middle East was issued in Bahrain by Credimax in 2005. To enhance its acceptance network especially in the UAE, JCB had signed merchant acquiring agreements with major partners such as Mashreq Bank in 1996, Network International in December 2006 and National Bank of Abu Dhabi in 2008.

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Experian upgrades pre-screening credit risk

Experian global information services launched a new version of its credit marketing pre-screening tool. Allowing financial services organizations to more easily identify consumers under financial stress and market only to those most likely to be accepted for their products and services, Delphi for Marketing draws on Experian’s extensive data assets and analytical expertise to assess the credit risk status of UK consumers and includes additional data indicating credit card behavioral data, used in line with credit data regulations.

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NRF Berates BofA for Debit Card Fees

In response to Bank of America’s announcement it will impose a $5 monthly fee on debit card users, The National Retail Federation issued a statement expressing displeasure. In a statement, targeting all banks set to implement this practice, the NRF disclosed “Every time Congress takes a step to protect consumers, the banks use it as an excuse to raise fees. We’ve seen it when Congress limited late fees and overdraft fees and now we’re seeing it with swipe fees. Just as merchants and consumers are about to get some relief, they’re doing it again. That doesn’t mean Congress shouldn’t pass consumer protection laws. It speaks more to the nature of the card industry than to whether swipe fee reform should have been passed.” In the United States, NRF represents an industry that includes more than 3.6 million establishments and which directly and indirectly accounts for 42 million jobs.

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Signature Bank to Implement AmEx Payments Platform

Signature Bank is implementing the American Express “FX International Payments Platform” to process online orders for international wire transactions by Signature Bank corporate customers. Those customers who wish to place orders from Signature Bank will log into the secure, online platform of American Express. Features include an easy to use and secure online platform to send wire payments in USD or foreign currency; file upload with the ability to store repeat wire and beneficiary information saving time; email notification to beneficiaries when a payment is initiated and complete.

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