BookIt.com and PayPal Consolidate Travelers’ Reservations

BookIt.com online travel company implemented PayPal’s Parallel Payments, allowing guests to use PayPal to book all travel purchases in one easy transaction. Travelers will now be able to pay for flights, hotels, car rentals and vacation packages with one step using the leading global online payment system. PayPal offers a safe, simple way for guests to pay for their travel online without sharing personal financial information. In addition to enhancing guests’ purchasing experience, PayPal exposes BookIt.com to millions of its users who prefer to do business with websites that offer the service. In 2010, PayPal’s net Total Payment Volume for 2010, the total value of transactions, was nearly $92 billion.

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Wells Fargo Completes Conversion of Wachovia in 363 FL Banks

Wachovia banking locations across north and central Florida and the greater Tampa area officially became Wells Fargo stores in the latest phase of the largest bank merger in U.S. history. More than 4.6 million Florida customers can now take advantage of 363 Wells Fargo stores and more than 500 ATMs across that part of the state. Wachovia banking locations in the southern half of Florida will transition to Wells Fargo stores in July, and other eastern states will follow throughout 2011. Meanwhile, the Wells Fargo “ExpressSend” distribution includes over 27,000 remittance payout locations with 26 remittance network companies located in 15 countries.

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ROAM Data Introduces Cloud-Based Mobile Wallet and Checkout API

ROAM Data mCommerce released its “ROAMwallet API” “1-Tap” mobile checkout solution that turns the mobile marketing channel into a mobile sales channel. ROAMwallet enables consumers to quickly and securely purchase products using their own mobile device. It is both a patent pending mobile checkout API designed especially for embedding secure commerce in mobile apps or ads, and a consumer mobile wallet that securely stores payment options, receipts and other data, for consumers to conveniently buy from ROAMwallet-enabled merchants using 1-Tap technology. ROAM also will make available ROAMoffers turn-key solution, integrated with ROAMwallet.

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Fiserv and Dollar Bank Expand Lending Partnership

Fiserv financial services technology solutions and Dollar Bank have expanded its partnership and consolidated all of its consumer loans onto the Fiserv “LoanServ” platform, which Dollar Bank has been using to service its mortgage loans since 2007. Dollar Bank has also begun using the LoanServ functionality that gives many of the bank’s new and existing HELOC customers credit card access to their line of credit. Traditionally, home equity lines have been managed on credit card or consumer loan systems. Because the lines are secured by real estate, they required either mortgage-specific support that was performed manually, or by another system entirely. LoanServ is a single-platform, real-time solution that combines mortgage loans, consumer loans, indirect financing, home equity loans and lines-of-credit and distressed-loan functionality into one core system, creating efficiencies and convenience for financial institutions.

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Monster Offers Payment Solution Partners with Iconosys

Monster Offers mobile banking solutions company and Daily Deal aggregator, has entered into an agreement with Iconosys, a leader in mobile communication application design and related products and services, to integrate the Monster Offers one-click mobile payment solutions with more than 500 popular mobile phone applications like DealBuzzer, DriveReply, Trick or Tracker, and Tell My Geo. Through its collaboration with Iconosys, Monster Offers will be able to offer its mobile payment solutions through the current and future Iconosys distribution network of mobile phone application users.

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Propell to Integrate Moggle Payment System to Online Service

Moggle online payment processing for secure transactions between the youth market and online merchants, announced Propell Corporation has agreed to implement the “Virtual Piggy” payment platform as part of its “instant ecommerce” system for K-12 schools. Propell provides online shops and order fulfillment for thousands of K-12 schools, universities, businesses, nonprofits and the U.S. military nationwide and manufactures product on-demand for each shop, so there is no inventory or risk for the partner.

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SafetyPay Selected By BorderJump as Preferred Payment Solution

SafetyPay, a secure payment facilitator benefiting online shoppers, merchants and banks worldwide, announces its partnership with Tenn.-based BorderJump. BorderJump eliminates the complexities of cross border ecommerce through an integrated platform handling duty calculation, shipping & logistics, international payments and marketing. SafetyPay has been selected as a preferred payment solution by BorderJump to accommodate the local currency and payment preferences of international buyers. BorderJump manages all aspects of an order from tracking, customs, payment and returns. SafetyPay enables merchants working with BorderJump to offer their international customers a way to securely pay through their local bank and currency.

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OKI Enhances Features on Cash-Recycling ATM

OKI announced it will quadruple the number of banknote denominations that can be handled by “ATM-Recycler G7”, enhancing its currency exchange and public utility payment functions and services. The enhanced “ATM-Recycler G7” is now available as efforts to expand product sales will primarily target rapidly growing emerging markets. The enhanced version of the “ATM-Recycler G7” adds coin withdrawals, contactless IC card reader/ writer, and barcode reading functions. In addition to banknote deposits and withdrawals, it provides services such as exchange between multiple currencies and payments for public utilities invoices, including payment services for users who do not have bank accounts. This versatility allows use of one unit across multiple countries, making it ideal for financial institutions planning wider deployments.

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Middle East Travelers Prefer to Carry Less Cash

Travelers from the UAE, Kuwait, Saudi Arabia and Egypt prefer to access local currency through ATMs rather than bringing large amounts of cash from home, withdrawing an average of US$1,531 per overseas trip. This is 42% more than the overall average (US$1,080) from all respondents. These findings, according to the Visa International “Cash Access Study 2010” of eight markets, also shows the main reasons for accessing cash on arrival include convenience (75 percent) was the main consideration, followed by the availability of ATMs and cash access touch-points at destination (50 percent) and safety (48 percent). The most popular payment cards used by travelers from the Middle East for overseas cash access at ATMs are ATM/bank card (64 percent), debit/ salary card (21 percent) and credit card (12 percent).

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Sicoob Selects Panini Check Truncation

Sicoob cooperative bank through BANCOOB’s major check truncation movement in the country, selected Panini’s market-leading “Vision X” check scanner for check image capture. Panini, a global payments processing technology provider, will supply the hardware, service and support necessary to execute the SICOOB/BANCOOB check truncation strategy across a network of more than 1,700 branches. Sicoob installed Panini “Vision X” check scanners at each teller station in their cooperative bank network to capture check and barcode payment images for remote processing. Check truncation legislation established by Febraban (Federação Brasileira de Bancos) recognizes check images as valid replacements for the physical check allowing banks to process the payments electronically.

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FICO Will Protect 1 in 3 German Credit Cards

FICO’s “Falcon” Fraud Manager solution will protect about one in three of the estimated 30 million credit cards in Germany, and a similar share of credit cards in Austria and Switzerland. As of autumn 2011 FICO Falcon Fraud Manager will safeguard 8.8 million German cards against attempted fraud. In spring 2012, this figure will rise to 9.7 million cards profiting from FICO’s exceptional expertise in card fraud detection. FICO “Falcon” Fraud Manager will also protect 1.2 million credit cards in Austria and 2 million cards in Switzerland. Additionally, 17 of the top 20 credit card issuers rely on the FICO Falcon system to protect transactions for more than 2 billion active card accounts.

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KFH launches Master Card promotion campaign

Kuwait Finance House (KFH) launched a promotion campaign to encourage clients to use KFH’s Master Card in Kuwait and overseas from June 8th to September 3rd. The prizes are 4 trips to various countries, where users will enter a draw in September for every KD 10 purchase they make using Master Card. The winners will be offered a fully paid trip for two people. AGM for Banking Sector at KFH Mohammed Al-Fozan stated that the new campaign coincides with the holidays’ season, and that it aims to encourage clients to use KFH’s ATM and credit Master Cards in making purchases in Kuwait and overseas.

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