Banco Popular de Puerto Rico Deploys Logica Payment

Banco Popular de Puerto Rico (BPPR) will be implementing the Logica “All Payment Solution” (LAPS) to deliver central payments processing for its US Federal Reserve and SWIFT-based payments, anti-money laundering detection and financial messaging. The “LAPS'” scalability enables compliance with new regulations and addresses the changing needs of customers. The payment services hub increases automation levels, enabling real-time and more streamlined payments processing to improve customer service level and drive down operational costs. Logica will work with Banco Popular’s local IT implementation partner, EVERTEC to provide solution deployment support.

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GlobalPlatform Implements Compliance Program Trademark

GlobalPlatform has officially launched its compliance program trademark. With the appointment of a dedicated program secretariat, established testing infrastructure and qualified test tool providers and laboratories, the program is set to ensure the creation and maintenance of an interoperable, sustainable and trusted end-to-end environment for managing applications on secure chip technology. This will manage all qualification processes for products, test tools and laboratories and issue the GlobalPlatform qualified trademark to vendors.

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FleetCor Acquires Fuel Card Company

FleetCor Technologies specialized payment products and services to businesses acquired a prepaid fuel card company in Mexico for undisclosed terms and will subsequently provide fuel and food card/voucher services to businesses and governmental entities. The acquired company serves over 10,000 businesses with over 800,000 cardholders and beneficiaries. Purchases are predominately pre-paid, and revenues are earned both from customers and merchants.

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Visa Payments Volume Up 26.2% Y/Y

Visa reported a total payments volume in Latin America and the Caribbean of US$ 313 billion, representing a year to date 26.2% growth during the 12 months closing on June 30, 2011. Quarterly results confirm this trend with US$ 86 billion in total payments volume, for a 28.7% growth. This approach is achieving results with credit and debit payments in Latin America and the Caribbean growing at 23.9% and 29.3% respectively, in the 12 months closing on June 30, 2011.

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Economic Index Shows 4th Straight Month of Improvement

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index (LEI) for the U.S. was up 0.2% in August to 115.8 (2004 = 100) after increasing 0.5% the month prior and 0.6 in June. August performance was mostly thanks to money supply, interest rate spread and average weekly initial claims for unemployment insurance (inverted). Meanwhile,…

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Sprint Launches Google Wallet for Nexus Users

Sprint and Google deployed the Google Wallet to all Nexus S 4G customers – an app that enables consumers to transform their phones into their wallets and make purchases with a simple tap. Sprint is the first carrier and Nexus S 4G is the first phone in the United States to deliver this convenient, innovative service that lets shoppers tap-to-pay at hundreds of thousands of participating retailers, including American Eagle Outfitters, the Container Store, Macy’s, Foot Locker and Subway. Google Wallet Android app stores virtual versions of a customer’s credit cards, offers and loyalty cards right on the one their phone. It requires users to set up a Google Wallet PIN that must be entered before making a purchase to prevent unauthorized access and payments.

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Fiserv and Wells Fargo Launch Foreign Currency Exchange

Fiserv financial services technology solutions and Wells Fargo partnered to advance foreign currency exchange capabilities through the “WireXchange” automated solution from Fiserv. Providing users end-to-end wire transfers, the interface with Wells Fargo provides financial institutions with the added convenience to seamlessly initiate foreign exchange transactions. The “WireXchange” platform also further eliminates manual processes and enables users to experience a one-time data entry and end-to-end wire transfer processing and automated OFAC compliance.

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Calpian Completes Acquisition from First Alliance Payment Processing

Calpian electronic payments processing closed phase two of a residual acquisition from First Alliance Payment Processing, the first phase of which was completed by the parties on January 7, 2011. In the second phase of this two-part acquisition, Calpian (The Company) acquired additional residuals from FAPP that will generate new recurring revenues to the Company in exchange for $140,000.00 in cash and 10,000 shares of the Company’s Common Stock. Details of the residual acquisitions by Calpian from FAPP are disclosed by Calpian in its Current Reports on Form 8-K filed with the SEC on January 12, 2011 and August 4, 2011.

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Bank of America Merrill Lynch Expands eBanking Platform

Bank of America Merrill Lynch announced that its electronic bank account management (eBAM) service is now available to a wide range of corporate and commercial clients in the United States and Europe. The extension of service follows a successful yearlong pilot with several early adopter clients. The “eBAM” integrated global application helps automate and standardize the opening, closing and maintenance of bank accounts, treasury services and bank record of legal entities. It facilitates the addition and deletion of authorized signatories and the digital execution of documents using e-signature technology, virtually eliminating the need for ink signatures. In addition, reporting capabilities provide an audit trail of account management activities as well as a view into account signatories. Clients gain control by checking the status online and receiving email notifications regarding eBAM activity.

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IronKey Partners Imation, Secures Cloud Services

IronKey partnered Imation technology company dedicated to helping people and organizations store, protect and connect their digital world. Imation will acquire the security hardware component of IronKey’s business, and the two companies will partner to offer IronKey online security services to enterprises, financial institutions, governments and consumers. Founded in 2005, IronKey’s online security services protect the data, passwords and transactions of over 3,000 government agencies, enterprises and their employees and customers. As part of this strategy, IronKey and Imation announced that they have entered into a definitive agreement under which Imation will purchase the assets of IronKey’s secure data storage hardware business.

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Union Plus Launches Prepaid Visa Card

Union Privilege AFL-CIO member benefits arm launched its Union Plus Prepaid Visa Card. For union members who are unbanked, the Union Plus Prepaid Card offers the lowest-cost, feature-rich prepaid card available, while for union members with a checking or savings account, the Union Plus Prepaid Card offers an alternative to traditional checking accounts and the high-cost of overdraft fees. Additionally, the Union Plus Prepaid Card offers a seamlessly attached savings account that pays cardholders an Annual Percentage Yield (APY) of 5.10% on account balances. Cardholders can add funds to their Union Plus Prepaid Card via direct deposit, or at over 50,000 retail locations nationwide and is distributed and processed by Rev Worldwide.

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CashStar Selected to Debut FinTech Innovation

CashStar digital gifting and incentives announced its CEO has been selected to speak at FinovateFall 2011 September 21 in New York City. The event is designed to showcase the newest financial and banking technology innovations from hot young startups, leading established companies and everyone in between. FinovateFall features a mix of short, fast-paced demos from handpicked companies, as well as intimate networking time with each demoing company’s top executives. During his seven-minute demo, Stone will unveil a first-of-its-kind location-based iPhone application that enables consumers to instantly turn credit card points into digital currency while they are in a participating retailer’s store.

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