US NFC Market Primed to Commercialize

The US market has already welcomed the Near Field Communication (NFC) technology which, according to Frost & Sullivan, will be commercialized by the end of 2012 or beginning of 2013. In Frost & Sullivan recent webinar entitled “Smart Cards in the Financial Services – From Chip Bank Cards to Mobile Payments” a Research Analyst for Smart Cards group looked into the smart card solutions dedicated for the payment industry and discussed the major trends on the market. The complimentary recording is available on request. The NFC technology is going to be commercially deployed next year or in the beginning of 2013, as market participants have successfully addressed the majority of challenges. Early adopters will benefit by gaining experience, innovative reputation, and generating new revenue streams.

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ValidSoft names RMS IT Security UK channel partner

ValidSoft fraud prevention, authentication and transaction verification solutions, has announced an agreement with RMS IT Security IT security solutions provider. RMS IT Security will be the first channel partner in the UK to provide ValidSoft’s “VALid” Four-Factor Authentication solutions set. ValidSoft is a wholly-owned subsidiary of Elephant Talk Communications, an international provider of business software to the telecommunications and financial industries. The “VALid” authentication solution addresses risk through an extensible Out-of-Band (OOB) authentication model that can not only vary the authentication strength, but can also implement additional authentication factors through the combination of its own proprietary voice biometric technology coupled with Proximity Correlation Logic (PCL).

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YESpay to unveil payment features in collaboration with ACT Canada

YESpay is set to participate at Cardware 2011 on June 14-15th and is hosting its first North American Annual partner event “Pay the New Way 2011” in collaboration with ACT Canada on June 13th at Niagara Falls. Participants will discover how they can help their customers maximize sales and revenues through current and future payment innovations, as YESpay will be hosting ACT Canada, Chase Paymentech, First Data Merchant Services, and POS vendors like Cardwatch.

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sQuid Recognized as Company of the Month

sQuidcard has been chosen as the recipient of the “Company of the Month Award” by Business and Industry Today thanks to its impressive growth and innovative, state-of-the-art cashless ePayment system that has been incredibly well received by schools, colleges, universities and campus environments across the nation. Payments are made using contactless smart cards or biometric identification, allowing a safer, smarter transaction. With the 10 millionth cashless transaction quickly approaching, sQuidcard has taken the world by storm. The sQuidcard system focuses on providing more reliable and convenient alternative to carrying cash in educational facilities and allows parents to track their child’s spending in a quick and easy manner.

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Ogone Expands payment services to Middle East

Ogone global payment services platform is launching services in the Middle East through a partnership with CashU, a leading local payment method. With this, Ogone create d a colloquial version of its payment gateway, branded CPSP (cashU Payment Service Provider) to operate in Arabic and accept local currencies and payment methods. The move means that Ogone is now able to support payments in virtually any market across the globe. This will also provide local merchants across the Middle East CPSP’s PCI-DSS compliant online payment processing system to subsequently grow their e-Commerce businesses outside their home markets with the ability to securely process payments across the world.

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Visa Europe taps Digital Realty Trust for data center

Digital Realty Trust wholesale data centers, has signed a data center agreement with Visa Europe, whereby it will provide 10,000 square feet of raised floor space. This is the second major financial services organization to sign a lease with Digital Realty Trust in recent months, indicating that the need for data centers, and investment in these critical facilities, continues to grow within the European marketplace. This project will be completed under Digital Realty Trust’s exclusive guaranteed timeframe and budget program.

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Bharti Airtel Commence m-wallet deployment

Bharti Airtel launch its “airtel money” mobile wallet service. Providing customers an efficient alternative to cash transactions, “airtel money” will give access to a convenient and secure way of making payments through the ubiquitous mobile platform. Airtel has already established partnerships with over 2,200 merchants in Delhi NCR who will accept payments via airtel money. Customers using “airtel money” will also be able to avail exclusive discounts and attractive offers at various merchant outlets in the market.

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ID Data Cards Achieves Visa Accreditation

ID Data Cards has achieved Visa card manufacturing and personalization accreditation, allowing it to expand its range of plastic cards and key fobs to include Visa EMV chip and pin card solutions and build on a record period of growth for the company. ID Data can now provide its customers with Visa-accredited magnetic strip, credit, debit, ATM and prepaid cards from its purpose-built, high-security card plant in Petersfield, Hampshire. This includes every aspect of the production and fulfilment process including design, manufacturing, personalisation and mailing. The Petersfield facility has experienced a strong start to 2011, with a sizeable pipeline of new business and recent contract wins that are expected to generate more than 10 million cards. This after ID Data extended its Card Quality Management (CQM) certification from MasterCard to include dual interface cards, subsequent to increasing demand for cards combining both contact and contactless payment.

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Citi Cards Adopts FICO Scoring Analysis

Citi Cards has adopted the FICO’s “8 Score” as a key component of its credit policy function supporting both acquisitions prospecting as well as account management. Citi Cards has been conducting validations on the FICO “8 Score” over the past 18 months and found it improved the prediction of customer risk and is now using the score across many of its lending decisions. The FICO “8 Score” allows lenders to benefit from FICO’s advanced analytics and innovation while maintaining compatibility across their entire value chain, including internal systems, processes and practices as well as those of their business partners.

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DataCard Integrates Software With Instant-Issue Card Printer

Datacard Group secure ID and card personalization solutions’ “CardWizard” software version 5.3.2 is now fully integrated with the Datacard “FP65i” financial card printer, providing financial institutions a cost-effective way to instantly issue payment cards at the branch level. The “CardWizard” platform can support card printers, embossers, PIN entry devices and encoders using a centralized server component while the FP65i financial card printer is among many hardware devices with which it is compatible. Financial institutions can now deploy highly-secure yet cost-effective instant card issuance programs that can easily adapt to their growing needs, minimize deployment costs and maximize efficiency in their card programs.

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Intuit Introduces m-Banking App on Android

Intuit Financial Services has introduced a mobile banking application that makes it easier for Android smartphone users to manage finances from their mobile devices. Using the Android’s built-in features to help bank and credit union customers, it lets users view account balances and account transaction history. transfer funds between eligible accounts, pay bills on the spot, and locate nearby ATMs and Branches using the phone’s GPS capabilities. Financial institutions offering Intuit’s mobile banking solutions are already seeing tremendous growth in mobile interactions with customers. People at more than 300 U.S. banks and credit unions actively use Intuit’s mobile Web, text-message and downloadable application solutions to conduct their critical banking tasks an average of eight times per month.

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