Cielo processing acquires Braspag e-payment

CIELO S.A. merchant acquirer and payment processor acquired 100% of the quotas representing the capital stock of Braspag – Tecnologia em Pagamento through a subsidiary. Braspag specializes in innovation, the development of online payment solutions and payment processing for e-commerce with a market share of approximately 65% in its segment. Operating as a gateway, Braspag’s platform integrates online stores, financial institution sand acquirers, and is responsible for capturing, routing and managing payment transactions with cards, collection slip sand online debit. Cielo will expand its product portfolio with a more comprehensive offering providing financial reconciliation and anti-fraud intelligence tools, further strengthening the relationship with its clients.

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ValidSoft Announces Progress on Privacy, Security to Shareholders

ValidSoft CEO Patrick Carroll has announced a range of new activities and cited several competitive advantages for ValidSoft during a recent conference call for shareholders of its parent company, Elephant Talk Communications. Carroll announced ValidSoft fraud detection, fraud prevention, authentication and transaction verification solutions, is working with a European governmental agency to improve the unemployment benefits systems through recipient Self-Certification. This project is using ValidSoft’s unique four-factor authentication model that uses voice biometrics, with an automated dialer to authenticate the identity of each individual. The self-certification approach generates significant cost savings and efficiencies to the government agency and also helps identify potential fraud in the system.

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United National Bank & FIS inks debit card deal

Fis banking and payments technology has signed a multi-year deal with United National Bank (UNB) for issuing and processing debit cards. This lets UNB to expand its service offering by providing a debit card facility to its customers for the first time. FIS Card Processing Services supports debit, credit and prepaid card-based transactions, providing the necessary messaging and integration with payments industry compliance schemes. Based on flexible technology, FIS Card Processing Services are built on modern, open architecture to ensure long-term scalability, availability and performance and support many of Europe’s leading card issuers and acquirers.

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NatWest adds remittance & geolocation to iPhone app

NatWest updated its banking app allowing customers to transfer money using their mobile phones. Extra features for the app allow users to view all their online accounts on their mobile phone and find ATM’s and branches based on their current location. The new and improved app is also smarter and simpler for customers to use, and still them check balances, view transactions and set text alerts.

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Alipay Obtains e-payments license

The Alipay system affiliated with Jack Ma’s Alibaba Group has received a license from China’s central bank to operate an electronic payment system in the country, allowing it to handle foreign exchange transactions, Internet payments, mobile payments and debit card services. The Alibaba Group restructured Alipay’s ownership structure, giving Ma full ownership control of the payment business, while Yahoo-43% owners in Alibaba-says the transaction flew under their radar.

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The Share Centre Deploys LogRhythm for PCI-DSS

LogRhythm announced The Share Centre retail stockbrokers has deployed its integrated log management and Security Information and Event Management (SIEM) solution in full compliance with the PCI DSS. The Share Centre is also using “LogRhythm” to help implement security best practices and optimise IT operations. The Share Centre previously used an alternative solution to collect log data, however the company was keen to upgrade its infrastructure to ensure it met PCI compliance regulations.

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APS Financial extends MasterCard pre-paid partnership

APS Financial Limited prepaid card issuer extended its MasterCard brand partnership five-years, intent to drive the growth of the prepaid market in Europe. A prepaid account can be set up online in minutes and they know they will not be refused due to credit reasons at the end of the process, unlike many banks. APS prepaid cards gained direct membership to MasterCard in the UK in 2007 and is now an exclusive issuer of MasterCard-branded cards.

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ROAM Data Adopts Visa m-Payment Security Practices

ROAM Data mCommerce platform provider is following the best practices and minimum standards for encryption guidelines for mobile payments released by Visa. Extending both physical POS and eCommerce to the mobile environment, ROAM Data said its solutions meet or exceed all Visa guidelines for mobile payment acceptance solution vendors, from encrypting cardholder data at the time of swipe through authorization to encryption of key management processes. ROAM Data offers “ROAMpay” as its turnkey mobile card acceptance solution that runs on hundreds of phones and is also compatible with the ROAMpay Swipe device.

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VeriFone to Acquire Destiny E-Commerce

VeriFone Systems reached a definitive agreement to acquire South Africa-based Destiny Electronic Commerce electronic payments solutions for undisclosed financial terms. Destiny secure payment technologies supplies and supports payment systems for banking, retail and petroleum, providing value-added services, and end-to-end estate management services and tools while its EFTPOS development team provides a range of robust and reliable software applications that are adapted to ensure ongoing compliance with card industry specifications and standards.

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NetSpend Up For Investigation, Shares Drop 10%

Robbins Umeda shareholder rights litigation firm has announced its investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at NetSpend Holdings reloadable prepaid debit cards. Robbins Umeda LLP’s investigation focuses on whether the directors and officers of NetSpend harmed the company by breaching their fiduciary duties to shareholders by causing or permitting the company to engage in deceptive and unfair practices. On May 19, 2011, the Florida Attorney General announced an investigation of NetSpend for failing to disclose certain prepaid debit card fees to consumers. The announcement stated that in certain instances, every transaction a consumer makes using a prepaid debit card may be subject to a hidden fee. Within twenty-four hours of this announcement, the value of NetSpend shares dropped by over 10%.

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Study to Reveal How Low-Income Americans Use Financial Products

The Financial Access Initiative (FAI) at New York University’s Wagner Graduate School of Public Service study to better understand the financial lives of low-income Americans will track families in four geographic regions in the U.S. over 16 months and collect highly detailed data on household financial activity. In partnership with Bankable Frontier Associates and The Center for Financial Services Innovation, the study promises a timely and independent look at how low-income Americans are managing their financial lives. The $3 million project is supported by a grant from the Citi Foundation and the Ford Foundation. In the U.S., the Federal Deposit Insurance Company (FDIC) found that some 17 million adults live in households without any bank accounts. Another 43 million have accounts but are “underbanked,” relying on non-bank services such as pay-day lenders and pawn shops.

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