Cash Passport Offers Added Travel Money Convenience

A new functionality within the Cash Passport will reduce travellers’ exposure to fraud and ensure greater compatibility with a wide range of overseas merchants. The latest chip & PIN technology is now built into all new Cash Passport cards, changing the way travellers pay and providing freedom to use the Cash Passport for every point of sale and ATM transaction. Travelling with a non-chip & PIN card is extremely difficult, especially in Europe where merchants have come to rely heavily on this technology in the seven years since it was first rolled out. So the new Cash Passport now requires a PIN authorisation to complete a transaction and still includes the traditional magnetic strip for those merchants not using the technology.

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Checks Won’t Impact Business Decision to Modernize Payment

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Jonathan Williams, director of strategic development, Experian Identity & Fraud, comments on the Treasury Select Committee’s report on the future of cheques: “The Payments Council has come under criticism from the Treasury Committee’s report for a lack of transparency, when, if anything, it has been more transparent than perhaps it ought…

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Arasan Chip Systems Expands Sales Territory

Arasan Chip Systems Total Semiconductor IP Solutions has increased its International support further by
expanding the sales territory for its Sales Representative Avant Technology. The
company provides Sales and Marketing support for Arasan Chip Systems in greater
China (China-Taiwan), and has now extended its Sales region to also include
Singapore and Vietnam. Arasan Chip Systems is a leading provider of Total IP Solutions for mobile
storage and connectivity applications.

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Cabot Microelectronics Opens Research and Manufacturing

Cabot Microelectronics Corporation, the world’s leading supplier of chemical mechanical planarization (CMP) polishing slurries and a growing CMP pad supplier to the semiconductor industry, held a grand opening ceremony on August 25, 2011 for its new research, development and manufacturing facility located in the Gyeonggi Province of South Korea. The grand opening event was attended by a number of the company’s customers, suppliers, co-suppliers and local dignitaries. Cabot Microelectronics has invested approximately US$13 million to construct the 56,000 square foot (5,213 square meter) facility, which is located approximately 55 kilometers south of Seoul in Gyeonggi Province.

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Xoom.com Offers Fee-Free Money Transfers for Hurricane Relief

Xoom.com online money transfer announced a “Fee-Free Money Transfer” pricing initiative when sending money to the Dominican Republic from the United States. Money transfers can be sent with no fee through August 31, 2011 by going to the Xoom.com website and entering the coupon code IRENE. This is part of an effort to provide relief from the damaged sustained by Hurricane Irene.

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Axis Bank & Bank Albilad Partner to Offer Remittance

Axis Bank partnered with Bank Albilad, Saudi Arabia, for remitting money from Saudi Arabia to recipients in India. Customers can use this service for money transfers to India from nearly 116 dedicated remittance centers across the Kingdom of Saudi Arabia. Such remittances would be processed seamlessly and disbursed to the intended beneficiaries by Axis Bank within 24 hours, irrespective of whether they have a bank account or not. Axis Bank offers inward remittance facility to India through tie-up with various banks, exchange houses, money transfer operators as well as through wire transfer and its online money transfer platform, ‘AxisRemit Online’.

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Gemalto 1H/11 Revenue Up 14% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Gemalto posted its 1H/11 revenue of EUR928 million, up 14% since the year ago period. With this came a 21% growth in Secure Transactions and a profit from ongoing operations of EUR72 million, up 8% from the year ago figure. The Company’s four main segments generated 16% revenue growth and 35%…

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Fifth Third Bank Launches Combined Credit and Debit Card

Fifth Third Bank launched its “Duo Card” credit and debit card. This dual functionality allows customers to make purchases using either a line of credit or funds available in their checking account. To draw funds from their checking account, cardholders would simply select the debit option at the point of sale and enter their PIN, or they can withdraw money from their checking account at an ATM. To draw funds against a line of credit – like a traditional credit card – consumers need only select the credit option at the point of sale and sign to complete the transaction.

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Verizon Wireless and Intuit Make Available m-Card Processing

Verizon Wireless and Intuit partnered to allow businesses to process credit card payments on smartphones and tablets on the Intuit “GoPayment” app and pocket-sized credit card reader. Now available in Verizon Wireless’ 2,300 retail stores and business-to-business sales channels, the “GoPayment” software makes it more affordable for small businesses to process credit cards and to accept credit card payments wirelessly. The card reader plugs into the audio jack of a supported smartphone or tablet and the transaction is processed immediately and funds are automatically deposited into a user’s bank account within a few business days.

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U.S. Bank to Offer Chip Technology in US Corporate Cards

U.S. Bank will begin issuing commercial cards with EMV chip technology for U.S.-based international corporate travelers. U.S. Bank’s international cards will enable users to make card payments via the chip-card readers commonly used overseas or the magnetic stripe readers that still predominate in the United States. The new commercial card offering follows on the heels of a June 10 announcement that U.S. Bank had become the first issuer of such “dual interface” chip technology to the U.S. consumer market with its FlexPerks Travel Rewards Visa(R) card.

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