Mobile Payments Market to Almost Triple in value by 2015

A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred. The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. Digital goods payments will account for nearly 40% of the market in 2015.

Details

AirPlus International Deploys Global Card Network

AirPlus International expense analysis and payment solutions partnered with Santander, BNP Paribas, UBS and Nordea to provide companies the optimal solution to worldwide travel cost management challenges with its “NextGen” system. Offering an all-in-one tool for professional business travel management that integrates the corporate cards, lodge cards and management information system (MIS) solutions, “NextGen” focuses on professional travel management globally. For users, it circumnavigates excessive locally provided tools that might fail to meet the needs of their modern global travel management.

Details

Bank of Georgia offers Serverside card customization

Bank of Georgia made available its ‘Love Card’ card customization service through the Serverside Group. Available across the bank’s debit and credit portfolios and costs GEL 15, ‘Love Card’ card customization is currently applicable to Visa Electron, Visa Classic, Cirrus Maestro and MasterCard cardholders. Being marketed through multiple channels, from adverts and editorial slots on the major TV stations, articles in the country’s leading magazines and newspapers, to web banners on Facebook and videos on YouTube, it allows cardholders to design their own images or choose an image from one of a number of galleries, including Nature, Dessert and Drinks, National Symbols, Sports and Animals.

Details

Ingenico Affiliate acquires BTG assets to Grow

Ingenico payment solutions’ easycash affiliate is expanding its footprint and acquiring parts of the assets from BTG ISO. With this, easycash purchases a terminal POS estate while a sales force joins the Group to deploy its one-stop-shop and bank agnostic offer. In addition to POS related services, the commercial bundle offer will also include Mastercard and Visa acquiring services from easycash to the merchant. With this, it enters a new market and debuts its know-how outside of Germany to its access to over 2,000 merchants in Belgium, allowing it to deploy the Ingenico “Telium” and NFC based terminals in a country where its presence was limited.

Details

99Bill signs eight major Chinese banks

99Bill independent third-party payment service provider signed strategic partnership agreements with eight major banks to facilitate secure and reliable payments transactions. 99Bill’s e-payment solutions is confirmed with the six of the seven business scopes approved by the PBOC, the most of any e-payment company in the industry and plans to use its unique advantages to work in conjunction with banking partners to develop innovative financial solutions for enterprise and business customers. 99Bill’s scope of cooperation with its eight strategic banking partners includes information management and security, payment and settlement, fund collection, card acquiring, as well as international payment and settlements.

Details

GlobalCollect Appoints New CTO

GlobalCollect announced the appointment of Peter Knight to the role of CTO, wherein he will coordinate with the Company’s Executive Council to develop a single-interface payment platform WebCollect and related technology solutions. Most recently CIO with ING Direct UK, Knight is an accomplished technology executive who previously held senior management positions at Capital One, Goldman Sachs, and the Financial Services Authority in the UK. He has extensive experience in leading large technology teams and a strong international business background having previously worked in the US, Asia, and Europe.

Details

NBPCA Concerned Over Interchange Loophole

While the Network Branded Prepaid Card Association (NBPCA) applauds the decisions of the Federal Reserve Board to adopt the new interchange fee cap, the Board also has issued a final debit interchange rule that will disqualify many general purpose prepaid cards and payroll cards from receiving an exemption from the new interchange rate. Under the new rule, effective October 1, 2011, a bank issuer may charge an interchange fee of 21 cents per transaction plus 1 cent for fraud prevention and an additional 5 basis points on the transaction amount to account for fraud losses. The Durbin amendment carved out an exemption from the lower interchange rate for prepaid debit cards and government benefit cards because millions of unbanked and underbanked consumers rely on these cards for basic needs. Ergo, any prepaid debit card issued by a bank with assets over $10 billion that allows cardholders to use the cards for services other than point-of-sale debit or ATM access such as check writing, bill pay, or electronic remittances would not qualify for the exemption.

Details

TCU Outsources ATM Service to Diebold

Teachers Credit Union (TCU) is set to implement Diebold technologies and services to enhance its operational efficiencies and improve member convenience, which will manage upgrades to its fleet of 85 “Opteva” ATMs. Upgrading the ATMs will consist of adding monitoring services to enhance security and ATM uptime and incorporating deposit automation technology to improve convenience. These measures are designed to improve the security and reliability of TCU’s self-service channel, especially with the added Diebold “Advisor” automated monitoring service, which alerts on detailed ATM status messages, such as paper jams and dispenser faults for subsequent remote fix or to dispatch repair service. TCU currently has 14 ATMs capable of deposit automation through Diebold, with more than 30 additional machines planned in the near future.

Details

Interchange Law Boosts eBay Stock

Shares of eBay rose 4% hours after the Fed voted to cut fees retailers pay to accept debit-card payments, which is expected to benefit eBay’s “PayPal” electronic payment service. With this, eBay shares now stand at $32.22. The Fed rule will shift billions of dollars in revenue from financial institutions to merchants. The fees that retailers are charged to accept debit-card payments would be trimmed to 21 cents plus a conditional charge of a penny and 0.05% of the transaction value for fraud prevention. eBay posted 1Q/11 net earnings of $476 million from the year previous figure of $398 million and revenue up 16% to $2.55 billion.

Details

TCF Requests Durbin Lawsuit Dismissal

The Eighth Circuit Court of Appeals affirmed a U.S. District Court ruling to deny TCF National Bank’s (“TCF”) motion for a preliminary injunction against the implementation of the Durbin Amendment. The decision was based mostly on the lacking clarity on the exemption effectiveness. This in conjunction with the Fed’s final rule on debit interchange led TCF to request the U.S. District Court in South Dakota dismiss the case without prejudice. TCF National Bank is a subsidiary of TCF Financial Corporation and has 442 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.

Details

NEC Strengthens Retail and Service Solutions

NEC Corporation announced the global launch of its new “TWINPOS G Series” in addition to its “TWINPOS Series” POS terminal products to reduce total cost of ownership for customers through its exceptional serviceability, reliability and power conservation. The “TWINPOS G5″ touch screen POS terminal and the “TWINPOS G7″ compact POS console begin today throughout markets worldwide, including China, Southeast Asia, India, the Middle East, Central and North America and Europe. Shipment of the “TWINPOS G7″ and the “TWINPOS G5″ are scheduled to begin in July 2011 and October 2011 respectively. The “G Series” lineup of products is designed to meet an ever expanding range of market needs. The “TWINPOS G Series” that contribute to reducing TCO reduce maintenance costs through serviceability, high quality and high reliability.

Details