MBNA introduces contactless Amex cards

MBNA announced that the first American Express-branded, contactless credit cards in the UK will be issued for use by MBNA’s customers. This is part of a phased initiative by MBNA to issue contactless-enabled cards for new and replacement credit cards for all of its UK customers. Millions of cards will be in the hands of MBNA’s UK customers by the end of 2012. Customers with American Express-branded cards issued by MBNA do not need to do anything as their new or replacement cards will be automatically converted to EMV-enabled contactless credit cards when they are re-issued or replaced. To use their new contactless cards, customers simply touch the card at payment terminals that display the contactless symbol and American Express logo without the need to enter their PIN.

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Diebold to install 1700 ATMs for State Bank of India

The State Bank of India (SBI) has signed an agreement with Diebold for its ATM expansion project for State Bank Group (SBG). With this, Diebold will deploy approximately 1,000 cash dispensers (CDs), more than 600 full-function lobby ATMs and approximately 60 cash recyclers. After this expansion is complete, SBG’s total ATM network will grow to more than 28,000 terminals. This is part of SBG’s plan to support its strategic self-service expansion plan and serve its widespread customer base across India with a significant number of deployments planned in metro, urban, semi-urban, rural and remote areas including Northeast India. The ATMs and CDs are touch screen along with function keys for higher availability of the machines; have voice guidance support and Braille enablement to support the visually challenged; use ard reader with enhanced security features; and an advanced dispenser with a special feature that helps in reducing jams and errors enabling better uptime.

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April Unemployment Edges Upward, COFs Drop Below 8%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While the seasonally adjusted unemployment rate in April was up for the first time since November to 9.0% for a difference of 244,000 jobs since March, the credit card chargeoff rate dropped .43% to 7.88% of outstanding credit card volume. With the number of unemployed persons totaling 13.7 million, credit card…

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MasterCard Launches World Elite MasterCard Ad Campaign

MasterCard Worldwide launched a new marketing campaign to raise awareness of new and enhanced features to “World Elite” MasterCard. In addition to providing affluent consumers elite card benefits, rewards and services they expect, “World Elite” now features a premium MasterCard brand mark to distinguish it from other MasterCard cards. New features of World Elite MasterCard will be highlighted in print and online advertising, and will highlight specific cardholder portfolios, focusing on the benefits of its MasterCard Global Concierge Service, offering World Elite MasterCard cardholders personalized assistance accessible 24 hours a day, 365 days a year; “MasterCard PriceAssure” to help enrolled MasterCard cardholders take advantage of little-known airline credits for savings on future travel; and the “PGA TOUR Player Golf Experience,” offering eligible cardholders exclusive “play like the pros” access to select TPC courses that host PGA TOUR events.

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AmEx OPEN Launches Online Marketing Platform

American Express OPEN launched “AdManager” for helping small businesses create, target and measure the results of their online advertising campaigns. Software tools for managing digital ad campaigns are traditionally too expensive and often too complicated for time-stretched entrepreneurs, but “AdManager” simplifies the process by offering a start-to-finish platform for creating ads and determining where they will be placed. Powered by AdReady, “AdManager” is American Express OPEN’s latest Business App that help small businesses market their products and services.

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Bank of America Launches Small Business Charge Cards

Bank of America kicked off its suite of small business charge cards to give small businesses more choice and control over their payment and expense management, including “Business Charge,” “Business Charge with WorldPoints Rewards” and “Business Preferred World MasterCard.” Offering businesses greater control over expenses without finance charges, the cards will be available through Bank of America banking centers and at bankofamerica.com. “Business Charge” is for small business owners who want a straightforward solution for business purchases and vendor payments with no annual fee. It gives cardholders free employee cards to set individual credit limits; zero liability protection for unauthorized transactions; expense management tools and customized spending reports.

Meanwhile, “Business Charge with WorldPoints” provides all the benefits of “Business Charge”, plus the opportunity to earn one WorldPoints reward point for every $1 spent on purchases; to redeem points for cash, gift cards, travel and brand-name merchandise; charges an annual fee of $49, which is waived the first year; and has no blackout restrictions. Lastly, the “Business Preferred Charge” offers the suite’s most robust rewards options and is designed for businesses with higher monthly spending needs. The card issues 10,000 bonus points after first purchase, 10,000 anniversary points each year and no expiration on points; double points on all airline and hotel purchases for the first 12 months; direct access to a Business Preferred service specialist; and the ability to set employee credit lines and limit employee card purchases to specific merchant categories.

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Paymetric Launches Partner Awards Program

Paymetric integrated and secure enterprise payment acceptance solutions launched its 2011 Cornerstone Awards to recognize the contributions business partners have made to facilitate Paymetric success. Current partners of Paymetric are invited to nominate themselves for the 2011 Cornerstone Awards. A winner will be named in Partner of the Year; Outstanding Partner Collaboration; Technology Partner of the Year; and Implementation Partner of the Year. Reviewed by a Paymetric appointed panel of industry experts and executives, nominations will be accepted at www.paymetric.com until August 30.

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FSV Payment Systems Appoints General Counsel

Stephen T. Middlebrook has joined FSV network branded prepaid debit card products and processing services as General Counsel. Coming to his new role from the U.S. Department of the Treasury as Senior Counsel, Financial Management Service, he provided legal advice for a variety of e-commerce initiatives for the Government, including stored-value, prepaid and debit cards; mobile payments; and internet-based collections and disbursements. He also advised on regulatory compliance, privacy, data security, intellectual property and other legal issues. Middlebrook is a graduate of Georgetown University Law Center.

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Paymetric Releases Data Intercept Solution

Paymetric integrated and secure enterprise payment acceptance solutions has officially released Data Intercept for SAP. Data Intercept for SAP leverages Paymetric’s “XiSecure On-Demand” tokenization technology and captures card number values prior to them entering the SAP landscape. The card number is tokenized and the token is returned to SAP where the original payment card field is populated and can be used for authorization. The user experience is seamless, normal workflow can be resumed and day-to-day business activities can be completed using these secure tokens. The Ponemon Institute estimates that the average cost of a data security breach has increased from $204 over the past year to $214 per customer record.

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VeriFone Announces PAYMEDIA for Secure PumpPAY

VeriFone Systems announced “PAYMEDIA” for its PCI 2.0-approved Secure PumpPAY solution for pay-at-the-pump, designed to deliver content and advertising to enhance the customer’s experience at the gas pump while generating profits for convenience operators. The “PAYMEDIA” for Secure PumpPAY is driven by the VeriFone Digital Network (VNET), currently playing in more than 10,000 taxi cabs throughout the United States and the United Kingdom. VNET provides consumers with an engaging blend of news, weather, and lifestyle programming while also delivering targeted advertisements and promotions. Additionally, VeriFone’s Media sales team will actively sell and market advertising to national ad buyers. VeriFone’s “Secure PumpPAY” supports EMV and chip and PIN payments and provides a rugged and secure pump payment solution that is user-friendly and highly suited to brightly display the dynamic PAYMEDIA content.

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BofA Marks Small Business Week With New Payment Initiatives

Bank of America announced a series of initiatives designed to help small business owners run their businesses more efficiently and effectively. In conjunction with National Small Business Week, Bank of America is offering new payment options to manage cash flow, providing an update on its five-year, $10 billion commitment to spend more with small business suppliers, and investing in opportunities that enable small business growth. Providing more payment options to help small businesses manage cash flow, Bank of America has launched three new small business charge cards designed to give small businesses more choice and control over their payment and expense management needs. This is in addition to the Bank having spent $4.1 billion with small, medium-sized and diverse businesses in 2010, the first year of a five-year, $10 billion commitment. Bank of America is also providing other educational and advisory resources for its small business clients through its Small Business Online Community (SBOC) – www.smallbusinessonlinecommunity.com.

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