FIS Software Introduces Mobile Application

FIS Software end-to-end policy administration systems launched its “ALIS Mobile Application” (AMA) for its Policy Administration System. This extends ALIS functionality, offering agents, financial advisers, and policyholders real-time iPhone, Android, and Blackberry access to application status, account balances, commission payments, and transaction processing. FIS’s AMA offers maximum flexibility with the ability to configure custom handheld applications for each insurer’s specific needs and to access any data element available through ALIS. AMA is compatible with all versions of ALIS. It ultimately Improves efficiencies in back office operations with a reduced need to manually provide key information to agents, financial advisers, and policyholders and reduces interface required to complete transactions.

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First Data Awarded Business Partner of the Year

First Data electronic commerce and payment processing received the Electronic Transaction Association’s (ETA) Star award for “Business Partner of the Year.” This was thanks to its all around support of the association and its mission during the year, and its participation in multiple ETA committees and programs. The ETA is an international trade association representing more than 500 companies that offer electronic transaction processing products and services.

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Western Union Highlights 2011 Strategic Initiatives

The Western Union Company held its Annual Meeting and reiterated the company’s strategy while emphasizing its commitment to expanding the business. Stockholders representing 88% of shares voted to re-elect Ersek, Jack M. Greenberg and Linda Fayne Levinson as members of the board of directors, all of whom are to serve new three-year terms. They also voted to approve, on an advisory basis, the compensation of the company’s named executive officers; an annual frequency for such stockholder advisory vote on executive compensation; and to approve a non-binding stockholder proposal to eliminate the classification of the board.

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Fime and Barnes launch MasterCard approved card personalization

The MasterCard qualified “PersevalPRO Issuer” test tool that meets its latest card personalisation validation (CPV) requirements has been brought to market by Fime and Barnes International in a joint initiative. The test tool allows issuers to prepare for the MasterCard CPV certification process to reduce time to market. Eliminating costly and time consuming issues arising during the final certification stage, the “PersevalPRO Issuer” is the culmination of FIME integration services for secure chip based applications, tokens and devices and Barnes International’s chip card test tools. The product incorporates card personalisation functionality and security requirements issued by MasterCard and is the first to achieve qualification from the payment system.

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FICO Stats Show Compelling Range

Research is now indicating the average age of the highest-credit-scoring-consumer (850) is 61 years old, having a birth year of 1950 while the oldest person to achieve perfection was born in 1922. The data revealed the average age of the credit file at exactly 30 years, with an average ‘In File Since’ year of 1981, at the national repository while the span of years between the oldest and most recent file was 36 years. This, according to SubscriberWise analytics-driven risk management and issuing credit reporting agency, also shows the oldest file was created more than a half-century ago in 1958, while the youngest file was created 17 years ago in 1994.

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Paymetric Announces Annual Customer Innovation Awards

Paymetric ntegrated and secure enterprise payment acceptance solutions announced the winners of the 2011 Paymetric Customer Innovation Awards. The annual awards honor the most exceptional and innovative achievements made by companies utilizing Paymetric solutions. They include “Best Use of Technology” to LEGO System; “Best Global Use of Technology” to Lenovo Group; “Best Use of Data Intercept Technology” to the Whirlpool Corporation; “Product Innovation” to LTD Commodities; “Client Services Collaboration” to Movado Group; “Solution Extensibility” to McKesson; and “Paymetric Advocate” to Victorinox Swiss Army.

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IDT Launches Clearinghouse for International m-remittance

IDT has established an international remittance clearinghouse (RCH) for mobile network operators. The RCH facilitates connectivity between traditional, cash-based, money transfer operators and mobile wallets utilizing IDT’s economical transaction settlement and foreign currency exchange services. These services will enable mobile network operators to expand their reach particularly into unbanked immigrant populations in developed countries. IDT will launch RCH services with Smart Communications and Globe Telecom in the Philippines. Smart and Globe serve about 69 million subscribers and nearly 10 million mobile wallets in aggregate. Utilizing IDT’s RCH, Smart Money account holders and Globe’s GCASH account holders will be able to receive proceeds from traditional cash based money transfer transactions and be able to use those funds to make payments or withdraw cash in minutes.

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Small Businesses Using ACH Direct Deposit Likely to Use ACH Direct Payment

Small businesses who already use Direct Deposit to pay employees are prime candidates for Direct Payment. Indicating Direct Deposit is a safer, more convenient way to receive a federal benefit payment than by paper check. Revealing strong preferences towards ACH payments and showing the potential for Direct Payment adoption, more than 44% of small business Direct Deposit users currently employ and plan to continue using other ACH services from their financial institution. Additionally, 37% of Direct Deposit users already pay at least a quarter of bills online and made 48 online or preauthorized bill payments in 30 days, two-thirds more than non-users. This, according to NACHA, concluded small business preferred Direct Deposit, many of whom were predisposed to current online bill payment activity, the use of deposit and cash management services, the number of bills paid, use of online banking services, and online banking activity.

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Mastercard Prepaid Fleet Card Focuses on Refuelling Ease

Typical fuel cards are brand-tied to a particular chain, so if a driver’s holding a fuel card for ‘Garage A’, but needs to fill-up in an area where the fuel stations are mainly ‘Garage B’, they could have a big problem. A prepaid card, such as the “Cashplus” prepaid Gold MasterCard, is the answer for many fleet managers and their drivers as these cards provide access to fuel from any petrol station that accepts MasterCard. The increased control should be a significant help in reducing the risk of fraud while the card could be set up to allow out of pocket expenses – such as garage, breakdown and recovery bills or even unexpected hotel bills if a journey has to be extended. The “Cashplus” prepaid Gold MasterCard are topped up with the company’s money, so there’s no interest to pay, no unexpected fees and no late payment penalties.

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InfoVista Unveils New Cloud Service Performance Assurance

InfoVista service performance assurance will introduce its new unified solution for cloud service assurance at TM Forum Management World in Dublin. Extending its flagship VistaInsight for Networks and VistaFoundation to support cloud-based technologies, InfoVista’s best-of-breed carrier grade performance assurance platform offers end-to-end performance assurance, visibility and reporting for Infrastructure as a Service (IaaS) and other private or public cloud-based applications and services. InfoVista’s solution provides comprehensive support for all virtualization technologies, including the Virtual Computing Environment coalition Vblock infrastructure packages, a collaborative development of Cisco, EMC, and VMware in concert with their vendor ecosystems that integrates virtualization, networking, compute, storage, security, and management technologies, accelerating the service provider’s time to market for launching cloud services.

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Commerzbank & Sentenial to Offer Sepa services

Commerzbank has partnered with Sentenial to deliver value added Sepa services to their Financial Institution (FI) customers. This agreement provides Commerzbank customers with a service to operate SEPA in a robust and scalable manner without changing their back office systems. Sentenial have worked in partnership with Commerzbank to create a detailed solution allowing complete SEPA direct debit compliance painlessly. Ease of use and simplicity is achieved through the product’s unique “SEPA Expert” system that protects and insulates FIs from the complexities of the SEPA direct debit scheme. SEPA direct plus offers a high value, low risk SEPA direct debit service.

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Avangate Teams & PayNearMe Penetrate US Market

Avangate eCommerce and partner-management solutions for software vendors integrated its payment application from the PayNearMe cash payment network. Allowing consumers to pay for software purchased online with cash at nearly 6,200 7-Eleven stores across the U.S., Avangate is the first eCommerce provider for the software industry to implement this payment method. This also makes it possible for software companies to provide products and services to a potential market of up to 60 million US households that do not have a debit or credit card or consumers who simply prefer to pay with cash.

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