Habib Bank licenses Misys Platform

Habib Bank has licensed Misys “BankFusion Equation” to help it improve online banking services and serve its trade finance, treasury and retail customers more effectively. The “BankFusion Equation” core banking solution will ensure Habib Bank maintains its lead in banking in Pakistan. It will enable the bank to enhance operational efficiency and increase its ability to respond quickly to customers’ needs. The bank will be able to bring new products to market more rapidly and improve compliance with local banking policies and regulatory requirements.

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Western Union to Acquire Finint Money Network

Western Union has signed an agreement to acquire Finint money transfer network agents. Finint manages more than 10,000 subagent locations across Italy, Spain, and the United Kingdom. Western Union currently owns 30 percent of the company and will acquire the remaining 70 percent. The transaction complements Western Union’s acquisitions of leading European network agents FEXCO in 2009, and Angelo Costa S.r.l. earlier this year.

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PayPal Embarks on New Market with Digital River

Digital River global e-commerce solutions announced PayPal is leveraging its “Digital River World Payments” solution to support local online payment processing in Brazil and Mexico. This geographic expansion adds to the companies’ existing relationship, which now includes payment services across multiple continents. In addition to offering relevant payment options in more than 190 countries and over 170 transaction and display currencies, the “Digital River World Payments” solution features a wide range of customizable services for managing the complete payment lifecycle. These services include checkout page optimization, real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as advanced back-office reconciliation services and business intelligence tools.

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OTI Gets $6mm Order for National Infrastructure Program

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] On Track Innovations contactless smart card solutions has received a new $6 million order to support of the next stage expansion of a national ID program. This supports an existing ID project announced last year to modernize and improve the security of its electronic ID cards. OTI successfully supplied its end-to-end…

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Star One FCU Implements Tyfone Mobile Banking

Star One Credit Union has signed an agreement with Tyfone mobile financial solutions provider to deliver to its clients mobile banking services. Tyfone’s direct integration to Star One’s Fiserv “XP2” core gives mobile bankers rapid responses and direct access to core data offers flexibility for additional features. Tyfone brings the latest in progressive mobile banking services to Star One members, allowing Star One to offer standard mobile banking features as well as several industry-first features — account aggregation, rate watch, Regulation D counter, mobile remote deposit capture (mRDC), bill pay, and an array of customizable alerts.

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MoreMagic Launches M-Commerce App for Smartphones

MoreMagic has launched its suite of mobile commerce and financial services apps allowing Android, Blackberry, iPhone and Symbian users to pay for prepaid airtime directly from their handsets. This includes its “eTopUpOnline” application for smartphones, now available across all major global mobile platforms, including Blackberry, Android, iPhone and Symbian. The international online prepaid mobile phone top-up service, eTopUpOnline (http://www.etopuponline.com), enables people to instantly top-up their own mobile phone or those of their family and friends anytime.

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Prosper Growth Exponential Over Past Year

Prosper.com peer-to-peer lending marketplace with over one million members and $233 million loans funded announced its monthly loan Market Survey report for April 2011, indicating its compound monthly growth rate of more than 14.5% over the last eight months. The strongest month-over-month growth continues to be in the small business loan category, with a 19% increase in April 2011 and an 85% increase from six months ago. Prosper delivers a new asset class with annual returns averaging 10.4%.

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PNC Launches mobile RDC app

PNC Bank announced a new mobile banking feature that allows customers to deposit checks using an iPhone, iPod Touch or iPad 2. Mobile deposit is now available to all consumer and small business customers of PNC Bank after its introduction to PNC “Virtual Wallet” customers in April. The new mobile deposit feature arrives as more consumers are choosing online and mobile banking services over traditional options. It is estimated that 40 percent of U.S. consumers will be banking on their phones by 2012 compared to almost none just a few years ago. The customer simply selects the deposit account and the amount, photographs the front of the check and then the back.

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Nvinium Games Features Moggle Technology for Social Game Network

Moggle, a technology platform company that provides online payment processing systems for secure transactions between the youth market and online merchants, announced that Nvinium Games has agreed to implement the Virtual Piggy payment platform on its social entertainment game network. Using Virtual Piggy enables children to transact on Nvinium’s social entertainment game network under parental supervision. According to Social Network Gaming, an August 2010 report from The NPD Group, 20%, or 56.8 million Americans ages 6 and older report having played a game on a social network in the past three months. Virtual Piggy allows parents to register their children on the Virtual Piggy website (www.virtualpiggy.com) and create a profile establishing the child’s user name and spending limits on chosen e-commerce sites. Children may then visit the sites and initiate purchases within the parameters and guidelines set by their parents.

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ONLY 10% of Companies Sanction Preferred Apps

AirPlus International, a leading global provider of corporate travel payment and analysis solutions, released May’s “The Wire…from AirPlus” titled: “Mobile Tools Remain an Area of Opportunity for Travel Managers.” With more mobile tools available than ever before, almost two-thirds of travel managers believe that more than half of their travelers carry a smart phone. Only 10% of the companies sanction their preferred apps and tools.

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WorldRemit Offers Interac Online Payment Option

WorldRemit Internet-based money transfer service has added Interac ” Online” to its portfolio of payment options. Allowing customers to transfer money directly from their bank accounts, WorldRemit offering Interac “Online” gives customers access to credit cards and debit cards. Unlike traditional money transfer services that require senders to visit an agent, WorldRemit’s money transfer service is internet-based, allowing customers to send money safely from the comfort of their own home. WorldRemit sends an SMS text message to the recipient’s mobile phone notifying them that the cash is ready for collection, whom can then visit one of the many pay-out locations to collect the cash.

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Meezan Bank and Western Union Introduce Home Remittance payments

Meezan Bank and Western Union have entered into a collaboration under which Meezan Bank will provide the Western Union Money Transfer Service through its network of 223 online branches in 63 cities across Pakistan. Meezan Bank is the first Islamic bank in Pakistan to introduce this cross border inbound remittance service through Western Union, across 200 countries and territories to be exact. This allows Pakistanis to send money to their families without requiring a bank account and without having to pay any charges.

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