VISA & MASTERCARD FACILITATE IndusInd Bank POS acquiring

IndusInd Bank has signed an agreement with Atos Worldline India (Venture Infotek) for POS acquiring solutions. With this, Atos Worldline India will be setting up MasterCard and Visa PoS acquiring network for IndusInd Bank across India. Atos Worldline India will also help IndusInd Bank to establish a merchant establishment network. Atos Worldline India will help merchants to open accounts with IndusInd Bank. IndusInd Bank will promote PoS acquiring business amongst its existing customer base and newly acquired customers whereas Atos Worldline India will provide the necessary support to the merchants to encourage and improve usage of PoS terminals deployed at merchant establishments of IndusInd Bank.

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Visa Launches Real Time Remittance

Visa has made available its “Personal Payments” remittance platform, allowing UAE customers to send remittances in real time to anyone who has a Visa card, which can be a debit, prepaid, credit, platinum or any other card bearing the Visa logo. UAE Exchange and the Union Bank of the Philippines have just become the latest financial institutions in the world to adopt the service. Any money transfer to the Philippines using this service will now cost Dh25 per transaction and the funds deposited directly to the Visa card accounts can be used immediately at millions of merchant outlets or withdrawn from ATMs in the Philippines. Philippines-issued Visa debit and Visa prepaid cards issued by the Union Bank of the Philippines will receive funds in real time, giving recipients their money in minutes.

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Novo Technologies and Veritape Parnter, Intro PCI DSS Compliance Solutions

Novo Technologies flexible call recording solutions and Veritape recording company accredited as a PCI DSS Participating Organisation have forged their partnership. This will allow Novo to include CallGuard in its NovoPCI solution portfolio. This gives organizations access to a suite of high-performance solutions for PCI DSS compliance. CallGuard ensures that recorded telephone conversations are fully compliant with PCI DSS regulations. Compatible with any call recording system, the solution detects and blocks all “DTMF” tones (the sounds produced when keying in a number on a telephone keypad), thus preventing call center agents or order placement staff from having any exposure to credit card numbers during a phone transaction and ensures they aren’t stored.

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Outstanding Revolving Consumer Debt Posts Largest M/M Drop in 6 mos

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Of the total $2.4 trillion in outstanding US consumer debt, total outstanding revolving credit dropped nearly 1.5% in April to 790.1 billion. This after having edged up for the first time this year in March by 0.1% to $796.1 billion. This puts the figure back on the course it was following…

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Consumer Confidence Flat in May

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Consumer sentiment was pretty flat in May, with spending expectations and economic confidence changing very little from the prior two months on the Discover U.S. Spending Monitor. Up only 0.1 to 89.5 in May from the last month figure, may reflect pressure from high gas prices and continued high unemployment, but…

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Regions Purchases Credit Card Portfolio for $1B

Regions Bank has signed a definitive agreement with FIA Card Services to acquire the Regions-branded credit card portfolio of approximately $1 billion for undisclosed terms. The portfolio of 500,000 existing Regions customer accounts will accelerate Regions’ efforts to improve balance between its consumer and commercial loan portfolios, further diversify revenue streams and better serve its customers. Regions expects the transaction to close during the second quarter. Regions hopes to integrate credit card servicing into its customer service environment by mid 2012.

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Cassis integrates with MasterCard mobile OTA

Cassis International Trusted Service Management (TSM) Services for NFC mobile devices has expanded its TSM Services to support MasterCard’s Mobile Over-the-Air Provisioning Service (MOTAPS), the world’s first enabling platform for NFC programs. With MasterCard MOTAPS, issuing banks have a standardized, easy to use, cost-effective and secure method to transfer and install PayPassTM-enabled payment account information, on demand, in real time, onto Near Field Communication (NFC)-enabled OR capable mobile phones. After account provisioning, consumers can immediately use their mobile phone at more than three hundred thousand merchant locations worldwide where PayPass is accepted. This brings to MasterCard its commercially proven TSM service that specializes in securely provisioning payment and other secure element applications OTA onto mobile phones and then managing them over time.

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Safaricom CEO Kicks off Underbanked Forum

The Center for Financial Services Innovation (CFSI) began its 6th Annual Underbanked Financial Services Forum with Michael Joseph, the former CEO of Safaricom, delivering the keynote address. Joseph spearheaded the development of M-PESA”the only mobile payments system in the world to achieve scale. His keynote address, “Innovation Abroad: An International Mobile Payment Success Story,” shares lessons and insights on providing financial services to the underserved through mobile. Joseph also examines mobile strategies he thinks will ultimately be the most successful in the U.S. marketplace and worldwide. The Underbanked Solutions Exchange is a collaborative group of mid-size banks and credit unions engaged in action-oriented discussions to share thoughts, ideas, questions, and experiences with other institutions all with the ultimate goal of profitably and responsibly serving the underbanked.

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Smart Card Alliance and the NFC Forum to Launch NFC Conference

The Smart Card Alliance and the NFC Forum will co-host an event focused on Near Field Communication (NFC) in spring 2012 called the NFC conference. Focusing on the state of the technology for NFC, NFC devices and add-ons, NFC ecosystem development, use cases for NFC-enabled applications (both payment and non-payment), NFC implementation, and North America and international markets for NFC, the date and location of the 2012 NFC conference will be announced later this year. The Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate adoption, use and widespread application of smart card technology while the NFC Forum seeks to advance the use of Near Field Communication technology by developing specifications, ensuring interoperability among devices and services, and educating the market about NFC technology.

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Q2ebanking gets Texas Bankers Association endorsement

Q2ebanking (Q2) premier electronic banking solutions for community financial institutions has received endorsement for its risk and fraud analytics (RFA) solution from the Texas Bankers Association and its subsidiary. RFA monitors consumer and business transaction activities across all channels in real time and reacts proactively to detect and flag potentially fraudulent transactions. Q2 continuously updates the security solution to meet the latest threats and challenges, and regularly modifies algorithms to enhance overall platform security. The Q2Security solution also includes native out-of-band transaction authentication, multifactor authentication (MFA), real-time alerts and VeriSign® tokens to protect both consumer and commercial transactions.

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Vasco launches USB-based Authentication

Vasco Data Security International software security and authentication products launched its “Digipass Key 101” USB-based PKI solution for strong authentication, digital signatures and data protection. The “DIGIPASS KEY 101” offers secure remote access and digital signatures in a single ‘plug-and-play’ device with an extremely sturdy and portable design and can be used for various purposes such as desktop and application log-on, disk encryption, and transaction signing. It combines the strength of certificate-based authentication with the simplicity and portability of a built-in USB reader. This is part of VASCO’s PKI-based product line and is used in conjunction with DIGIPASS CertiID, a client-based software suite offering digital signing capabilities. DIGIPASS KEY 101 product benefits include enhanced security; reduced costs; and support for operating systems such as Windows, Linux and Mac OS x (without installment of dedicated drivers).

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