Ingenico to facilitate Visa contactless in black cabs

Ingenico launched its contactless payment solution for London ‘s ‘Black Cab’ taxis as part of a Visa Europe-led initiative to increase card acceptance. The contactless payment technology is based on the Ingenico “iCT250” device with GPRS, contactless and colour screen. Offering contactless payments alongside traditional Chip and PIN and magstripe technology, “iCT250” gives drivers the potential for increased fares, reduction in ATM stops, improved tip acceptance process and reduced cash handling.

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MasterCard names marketing head, UK and Ireland

MasterCard has announced the appointment of Paul Trueman as Head of Marketing for the UK and Ireland Division. Most recently Group Marketing Director UK and Ireland for LG Electronics, overseeing corporate brand and product marketing across five divisions, Trueman previously spent 14 years in the FMCG sector working for Cadbury Schweppes and Mars for marketing and innovation. He holds a B.S. in Mechanical Engineering.

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State Bank of Mysore Inks CCAvenue.com for Direct Debit

Avenues ecommerce company has signed a direct debit agreement with State Bank of Mysore for online shopping. CCAvenue.com neutral payment gateway used by 85% of India’s retailers allow affiliated merchants to sell products and services from clothing and books to computer repair and video rentals. This arrangement with CCAvenue.com will enable State Bank of Mysore account holders to pay for any product or service sold on any CCAvenue.com affiliated merchant website directly through their State Bank of Mysore bank account. The addition of State Bank of Mysore to Avenues ever growing direct debit payment option list means that CCAvenue.com affiliated merchants will be able to reach and sell to a wider audience.

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Grupo Aeroportuario del Pacifico Discloses Details of Credit Agreements

Grupo Aeroportuario del Pacífico has contracted an additional line of credit for the Guadalajara, Puerto Vallarta, Los Cabos, Hermosillo and Guanajuato airports, for a total of Ps. 1,023.98 million. GAP has selected HSBC as the financial institution for this line of credit. HSBC has authorized a line of credit for up to Ps. 1,575.36 million, demonstrating the confidence that global financial institutions such as HSBC have in the Company’s management. The funds corresponding to the abovementioned Ps. 1,023.98 million will be used to finance capital investments previously committed pursuant to the Master Development Programs of these airports for the years 2011 and 2012.

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CASHRUN OFFICIAL PARTNER OF PAYSAFECARD

CashRun e‐commerce fraud management and global payment solutions is now an official partner of paysafecard internet payments. The official accreditation to offer paysafecard to CashRun clients allows them to integrate and display this payment method into their web ‘shops’ and approach an incrementing customer network. Therefore, they can tap the underbanked customer market, lacking a credit card or a bank account, for an increase in site visits.

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Tieto becomes strategic IT partner for EnterCard

Tieto and EnterCard are expanding their cooperation. With this, Tieto becomes a strategic IT partner that will help the credit card group develop and improve their digital customer interface and mobile services. The e-banking and mobile bank services are some of the new features that EnterCard’s customers can look forward to in the near future. In addition to the development of EnterCard’s e-banking services, the agreement also stipulates Tieto will provide operating services to manage the entire IT-infrastructure. EnterCard has had a significant need for stability in its production environment and will have access to Tieto’s IT experts and development teams.

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Fitch Affirms American Express Issuance Trust

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Based on customer monthly payment rate having remained consistent over the past year at 95.73%, down slightly from 96.26% at the April 2010 distribution date, Fitch Affirmed American Express Issuance Trust. Given all accounts in the trust are charge cards, the balance is meant to be paid in full by next…

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VeriFone Partners with Google to Power NFC m-Payments

VeriFone global payment solutions is partnering with Google to deploy “Google Wallet” Android app that allows consumers to use virtual versions of their existing plastic cards stored on their phones. Consumers will simply tap their phones to VeriFone’s NFC-enabled payment systems at the point of sale (POS) to pay, take advantage of promotions and redeem coupons, for which trials are occurring at major retailers including American Eagle Outfitters, Bloomingdales, Champs Sports, Foot Locker, GUESS, Macy’s, Radio Shack, The Container Store and Toys”R”Us. VeriFone provides merchants with flexibility and easy migration to Google Wallet and the ability to leverage NFC to increase sales and customer loyalty through multi-application, interactive systems.

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Sprint Partners with Google to NFC Wallet

Sprint has partnered with Google to launch the “Google Wallet” application with NFC, allowing Sprint customers to tap and pay at retailers worldwide. Initially on the Nexus S 4G, the “Google Wallet” will work on the MasterCard “PayPass” network and allow users to redeem offers and even scan loyalty cards. Sprint is a charter member of the Open Handset Alliance and launched the first 4G Android smartphone. In April, Sprint launched the Nexus S 4G and launched Google Voice integrated with Sprint for Sprint CDMA phones. Sprint is actively working with others in the mobile payment ecosystem and sees this as enabling choices for customers that best meet their needs.

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59% of Parents Financially Helping Adult Children

Accordingly, 59% of parents are providing, or have in the past provided, financial support to their adult children when they are no longer in school. Conjunctivly, 65% of adult children between the ages 18-39 who are not in school believe the financial pressures faced by their generation are tougher than those experienced by previous generations. These findings, according to an online poll commissioned by the National Endowment for Financial Education, also show 32% of parents agree their own generation had it easier than their children’s generation while 43% are providing financial support because they are “legitimately concerned” with their child’s financial well-being, while 37% do so because they do not want to see their children struggle. Among those helping their kids, 50% are providing housing; 48% are helping with living expenses; 41% are aiding with transportation costs; 35% are providing insurance coverage; 29% are handing out spending money; and 28% are helping with medical bills.

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Aite Group Explores Merchant Acquiring

Aite Group examined the future of the merchant acquiring industry, as viewed by those within the space, implementing its survey of 20 senior-level, acquiring-industry stakeholders. The report explores select issues and trends facing the industry including legislative changes, and how EMV adoption in the United States and mobile payments will impact the industry. The research determined the merchant acquiring industry is on the rebound. While many merchant acquirers have seen an increase in their volume compared to a year ago, they are trying to determine the direction the industry will take in order to position themselves to compete in years to come. Debit interchange regulation is a concern, but not one that is expected to impact the merchant acquiring industry materially. Mobile payments are seen as having a great impact (either capturing new transactions or signing up new merchants) but the winning solutions have yet to be identified.

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Alliant Credit Union selects Hyland Software for ECM

Leveraging enterprise content management (ECM) solutions, Alliant Credit Union of Chicago has implemented Hyland Software’s “OnBase” solution for an organization-wide ECM implementation. Alliant needed true ECM capabilities to integrate with its core system, as well as other line of business applications, so it integrated “OnBase” to leverage functionality such as imaging and workflow across the enterprise, including in administrative functions. Additionally, OnBase “Workflow” will be used to automate wire transfers, from the request form to the evaluation of the request and member verification.

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