PCI m-payments guidance updates standards

The PCI Security Standards Council (PCI SSC) offered some clarity on what type of payment applications are eligible for PA-DSS validation and listing, including an update on the applicability of PA-DSS to mobile payment acceptance applications. With its “Which Applications are Eligible for PA-DSS Validation? A Guiding Checklist,” merchant retailers can streamline the understanding and process of identifying payment applications that fall under the PA-DSS program. One of the major risk factors determined is the environment the application operates within and the ability of that environment to support the merchant in achieving PCI DSS compliance. The Council has classified mobile payment acceptance applications into three separate categories based on the type of underlying platform and its ability to support PCI DSS compliance, and identified which can now be considered for review and listing as PA-DSS validated applications.

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VocaLink appoints transaction services director

Marc Terry has been appointed VocaLink Managing Director for the Transaction Services Division. Responsible for the leadership and development of Transaction Services business and is in charge of managing the company’s core contracts for Bacs, Faster Payments and the UK Government, Marc brings with him over 20 years’ experience in both the Cards and Payments Industry holding positions in sales, marketing and business development. Prior to joining VocaLink Marc spent 17 years working at ACI Worldwide international payment systems for both EMEA and the Americas. He was also Managing Director of EMEA for Clear2Pay, leading the company through growth and securing contracts with organisations such as Standard Bank SA, PBS, Santander and CEDICAM in France.

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InteliSpend Motivates Employees to Get Healthy

InteliSpend Prepaid Solutions is teaming with Virgin HealthMiles employee wellness program to provide wellness expertise, program design and program delivery for InteliSpend clients. Both companies are focused on helping lower health care costs for employers and employees. This at a time a recent MasterCard survey concludes for every dollar spent on wellness, medical costs fall by about $3.27 and absenteeism costs fall by about $2.73. Wellness programs work to improve the health of employees, reducing healthcare costs for both employers and employees. InteliSpend Prepaid Solutions is an issuer and reseller of American Express- and Discover-branded prepaid products, and a program manager for MasterCard and Visa. InteliSpend provides businesses with prepaid solutions, including stored-value cards, online reward management technology, and program management.

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ViVOtech closes series c funding round extension

ViVOtech NFC software and systems has closed $24 million in a multi-stage extension to its Series C round of funding to drive its growth and accelerate expansion into more countries. The extension featured notable new investors Singapore’s EDBI, SingTel Innov8, and Motorola Solutions Venture Capital, which were joined in the round by ViVOtech’s current financial and strategic investors Alloy Ventures, Citi Ventures, Draper Fisher Jurveston, DFJ Gotham, First Data Corporation, Miven Ventures, Motorola Mobility, Nokia Growth Partners and NCR.

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Intuit Buys Mobile Money Ventures Platform

Intuit has acquired mobile Web banking technology assets from Mobile Money Ventures, or MMV, next-generation mobile financial solutions. This transaction bolsters Intuit Financial Services’ position as a leading online and mobile technology provider to financial institutions. The acquired assets will also help the company bring new innovations to financial institution customers faster. Intuit also provides text message and downloadable application solutions to enable financial institution customers to conduct their critical banking tasks from virtually any mobile phone. Intuit also gains a small team of employees with significant mobile expertise and a strong history of deploying mobile banking solutions to financial institutions to continue to help existing and new customers on the mobile web banking platform.

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Silver Bullet to Ship with Canon Check Scanner

Silver Bullet Technology announced that Ranger is now available for Canon’s imageFORMULA CR-80 and CR-50 Compact Check Transports. Ranger will ship worldwide with every scanner. The CR-80 and CR-50 provides a flexible, high-performance, production-level check processing platform that delivers Canon’s extraordinary image quality in an efficient, countertop design. Ranger is a universal check scanner interface which allows banks to use virtually any item processing software with virtually any check scanning hardware. Ranger offers financial institutions maximum control over their system configurations with minimal integration efforts.

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Bankwest extends 7-Eleven ATM partnership

Bankwest extended its partnership agreement with 7-Eleven, adding an additional 250 ATMs to the existing 403 already in place in 7-Eleven stores, enhancing its broader ATM network. Bankwest has been in partnership with 7-Eleven since 2006, providing bank-branded, ATMs that allow the withdrawal of cash at any time, day or night, in safe and secure locations, throughout the entire 7-Eleven store network along the east coast. This grants access to a total of 650 ATMs in all of 7-Eleven’s locations, allowing Bankwest and Commonwealth Bank customers to conduct transactions without incurring a fee.

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Mobibucks Presents on MENA Success

MENA Managing Director of Mobibucks mobile marketing and payment solutions presented at the MPD Payments Innovation Institute on June 23 and 24 at Harvard University in Cambridge, MA. The focus of this year’s Institute, one of the leading forums in the payments industry, was on the role of mobile and social commerce in driving innovation in payments. For this, Mobibucks showcased its next-generation mobile payments, marketing and rewards solutions. The company also showcased its recent mobile payments service launch at Abu Dhabi Commercial Bank (ADCB) in Abu Dhabi, UAE. ADCB is the first bank to offer this unique mobile payment service.

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IndusInd Bank to add 400 branches by March 2014

IndusInd Bank plans to open about 400 branches over a period of three years to expand its presence in the country. With this, the branch network should go up to 425 by the end of March 2012 and the bank is expecting credit growth of about 25% and deposit growth in the same range. IndusInd Bank also signed a Memorandum of Understanding for issuing salary accounts to personnel of all ranks of the Army with host of benefits. The salary account is tailor-made and provides various concessions on fee and interest to army personnel while inward remittance would be free and users are issued a lifetime free credit card.

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Euro Area Economic Index Drops

The Conference Board Leading Economic Index (LEI) for the Euro Area decreased 0.2% in May to 108.8 (2004 = 100), following a 0.2% increase in April and a 0.5% decline in March. The Conference Board Coincident Economic Index (CEI) for the Euro Area, which measures current economic activity, declined 0.1%t in May and now stands at 103.0 (2004 = 100), up 0.3% in April, following a 0.2% decline in March. The eight components of the Euro Area Conference Board Leading Economic Index include Economic Sentiment Index; Index of Residential Building Permits Granted; Index of Capital Goods New Orders; the EURO STOXX Index; Money Supply; Interest Rate Spread; Eurozone Manufacturing Purchasing Managers’ Index; and the Eurozone Service Sector Future Business Activity Expectations Index.

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First Data and Alior Bank Extend Processing Agreement

First Data electronic commerce and payment processing furthered its cooperation with Polish financial institution Alior Bank in a five-year agreement. Having begun when Alior Bank was established in 2008, its agreements with First Data will continue to provide card personalisation and issuing services, manage the bank’s card database and perform transaction authorisations and settlement. Meanwhile, First Data will additionally implement its Proactive Risk Manager fraud management system to meet the bank’s demand for effective fraud management to identify and alert on card transaction irregularities for preventing fraudulent transactions for increased credit card security.

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CashPlus Prepaid MasterCard Allows Councils Save

Prepaid MasterCard cards can help save money, improve accountability and transparency, yet actually make life easier for both council employees and customers who receive benefits. There are many reasons why councils over here in the UK may find prepaid cards attractive – as well as being a cost-efficient way of disbursing Direct Payments and Personal Benefits, prepaid cards are more secure and convenient than cash or cheques. Prepaid cards are an excellent replacement for cheque payments and cash disbursements for council expenses, as they make reconciling everything from travel to office supplies so much more efficient. Cashplus prepaid Gold MasterCard cards can also help councils to meet their commitment to the ‘Putting People First’ vision of finding new ways to improve social care in England.

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