Emirates NBD enhances security of online card transactions

Emirates NBD has launched its “DoubleSecure” service designed to enhance the security of existing Emirates NBD Credit and Debit Cards. The service, which has been launched in partnership with Visa and MasterCard, lets Emirates NBD Cardholders to use a personal password to further protect online transactions by adding an extra layer of security. The “DoubleSecure” service is available through ‘Verified by Visa’ and MasterCard “SecureCode” global anti-fraud systems of Visa and MasterCard, and is available only on merchant sites supported by these systems. It requires customers to confirm their identity as the authorised cardholder and ensures that the purchase can be completed only with password identification.

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GALAXY S II HITS KOREA WITH NFC PAYMENT SYSTEM

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] KT is deploying its new NFC payment system for user mobile phones. This will allow NFC payments for smart devices and require an app. The factory installed app on Galaxy S II smartphones from Samsung will not be offered for download onto other smartphones right away. The users of the NFC…

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UAE Exchange Opens Branch, enhances Remittance

Enhancement of customer convenience has always been a priority for UAE Exchange, the leading global remittance and foreign exchange brand. As a step towards this goal, the remittance major has opened its seventh branch in Ramli Mall, A’ali, Kingdom of Bahrain on 14th April, 2011. UAE Exchange has a strong presence in the Middle East region, offering services encompassing remittances – bank transfers & instant money transfers, foreign exchange, and various value-added allied products & services. UAE Exchange was the first exchange house in Bahrain to receive the prestigious ISO 9001:2008 certification. The global remittance leader, present in 22 countries across five continents, has more than 500 direct offices offering wide range of popular products and services.

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Workers’ Equity Partners with Al-Bader for Salary Disbursement

Workers’ Equity Holding (WEH) payroll processor currently handling around 100,000 cards in the region, inked a partnership with Al-Bader Exchange, the leading exchange house in the country, to launch a unique payroll service targeting the UAE’s sizable migrant worker population. The solution enables migrant workers to receive their salaries on special ATM cards, issued by Al-Bader Exchange, and access their cash through a ‘private network’ of ATM machines installed by Workers’ Equity at Al-Bader Exchange Houses across the country. The initial phase allows for cash withdrawals and account balance statements and reports. Over the next few months, more services will be rolled out including automated remittance solutions and mobile top ups.

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Conference Board Rounds Out Economic Indicators

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Unemployment was down in March to 8.8% from 8.9% in February, dropping a whole 1% since November, as U.S. consumer late stage delinquencies were still plummeting on the way to a three-year low with 60+ day delinquency index having decreased for the 14th straight month by nine bps to 3.11% in…

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Visa Partners deliver transaction coupons

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Visa has opened its global processing network for marketers to send US consumers offers based on their purchasing history following a successful pilot program with Gap. Companies nationwide now can send consumers offers for discounts triggered when they make an online or offline purchase with an enrolled Visa card. Transactions are…

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FNDS3000 Releases Performance and Objectives

FNDS3000 international prepaid processing company currently introducing electronic payment solutions to the South African market announced its 1Q/11 revenues were $545,951, an increase of $456,537 (or 510.6%) from $89,414 posted a year ago. With this, for the six months ended February 28, revenues were $910,630, an increase of $743,521 (or 444.9%) from $167,109 for the six months ended February 28, 2010. The net loss for the six months ended February 28, 2011 was $(1,844,049) or ($0.02) per share, a decrease of $401,612 (or 17.9%) from $(2,245,661) or ($0.05) per share for the same period in the prior year. Coincidentally, FNDS3000 announced for 2011 it will be implementing direct local sales initiatives in South Africa to attract new customers for prepaid card programs; migrate away from the initial distributor sales model; will add another worldwide retail electronic payment network to its prepaid processing platform and another banking facility; and enhance its prepaid processing platform to provide for greater control, flexibility, productivity and scalability of South African operations.

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Cabelas Credit Card Stable, MPR Avg 41.77%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fitch Ratings has affirmed the long-term ratings, Loss Severity (LS) ratings and Rating Outlooks assigned to Cabelas Credit Card Master Note Trust as stable, thanks in great part to the monthly payment rate (MPR), measuring speed at which consumers are paying off their credit card debts, remaining consistent. Currently the 12-month…

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Card Issuers Posting Big Returns in 1Q/11

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Charge volumes for major payments-industry names have been posting double digit increases in 1Q/11, showing consumer spending is recovering and generating more revenue. American Express showed U.S. card-billed business jumped 15% to $124.1 billion from $108 billion in 2010’s first quarter and processed a total of $187.9 billion in charge volume,…

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AmEx Kicksoff Small Business Facebook Contest

American Express OPEN launched the “Facebook Big Break for Small Business” national contest. Helping transform the way small businesses use Facebook to connect and engage with customers in a more authentic and personalized way, the contest will award five small business owners an all-expense paid trip to Facebook’s Headquarters in Palo Alto, CA for a two-day, in-depth one-on-one business makeover and a $20,000 cash prize to drive their social media strategy to help their business grow with social media. Winners will be tutored on how to maximize the power of Facebook to better market their businesses, products and services to their existing customer base, and target new customer segments. Each will get practical and personal training on best practices for using Facebook Pages, Ads and Social Plugins, and will also receive a consultation about their current use of Facebook. To enter, small business owners need to visit http://www.facebook.com/OPEN and submit answers to a short questionnaire describing how they would utilize the competition’s winnings to better their business, answers to which will then be judged by an expert panel.

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Coalfire Systems Releases PCI DSS Compliance

Coalfire Systems (Coalfire) released its “Navis PCI Complete” online, fixed-price service that bundles together all the testing, documentation and reporting tools needed to achieve PCI DSS Compliance. Encouraging merchants to vigilantly protect against continuously-evolving cyber threats, “Navis PCI Complete” packages its tools and expertise into an online toolkit and support program that provides small and medium-sized merchants with the education, tools, recommendations and assistance they need to de-mystify the PCI DSS and protect their businesses. It is specifically configured for merchants who process fewer than six million credit card transactions annually (PCI Merchant Level 2, 3 or 4) and are seeking to complete an annual test plan to validate PCI compliance. Included is assistance documenting card-processing; technologies and networks, identifying compliance gaps, selecting controls and prioritizing; external vulnerability scans; and internal vulnerability scans.

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AMI Implements USA Technologies Processing

AMI Entertainment Network has chosen the USA Technologies “SDK” software to handle cashless transactions made on “Megatouch” countertop terminals. Developed for USAT’s ePort system, this system provides immediate operator connection to the USA Live Network for card-processing services. The self-serve retail industry is looking beyond just swipe cards to contactless cards and mobile payment using cellular phones. USA Technologies has seen the acceleration to cashless payment in the self-serve market in the past 12 months, having reported it more than doubled its cashless customer base to 1,400 clients in the self-serve retailing space. It now has nearly 110,000 cashless connections to its ePort Connect service, twice the number of connections as one year ago. The company’s annual cashless transaction run-rate is exceeding $100 million a year, with the daily transaction count approaching 250,000.

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