Kmart Launches Western Union Walk-in Payments Service

Kmart is now offering Western Union’s enhanced Payments Service with its expanded biller network and a fast transaction completion. Through the more than 1,200 participating new locations, the Western Union Payments Service will let Kmart shoppers pay their bills and conduct remittance. The improved payments service no longer requires forms after the first transaction and enables consumers to find and identify billers more easily (no “code cities”), while offering consumers flexible payment delivery speeds in addition to web-based and text payment options. The expanded network provides consumers the ability to make walk-in bill payments to most billers nation-wide.

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Bluepoint Inks Georgia United FCU

Bluepoint Solutions, a Microsoft Gold Certified Partner and provider of remote deposit capture, item processing and enterprise content management solutions for financial institutions, has forged processing agreements with Georgia United Credit Union. With this, Bluepoint Solutions will furnish its comprehensive content management and check capture and processing solution, which the credit union selected based on its content management suite. This includes the Bluepoint “Receipt Manager” and “Transaction Manager” for enhanced transaction balancing and research. Bluepoint will also provide its end-to-end item processing suite including “ImagePoint Foundation” multi-endpoint image exchange engine, and teller, home, and mobile capture points.

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Dollar Financial to Present at JMP Conference

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Dollar Financial, a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, announced that Jeff Weiss, Chairman and CEO, and Randy Underwood, Executive Vice President and CFO, will present at the Tenth Annual JMP Securities Research Conference on Wednesday, May 11, 2011 at 10:30…

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Bank of America Announces Tornado Relief Support

Bank of America announced a $500,000 commitment to the American Red Cross to aid victims of the tornadoes that swept across the Southern and Eastern United States. This includes a $400,000 grant to support efforts in North Carolina and a $100,000 grant to help with immediate and long-term recovery efforts in Oklahoma, Virginia, Mississippi and Alabama. Some of the hardest hit areas are still inaccessible, and officials are still assessing damage throughout the state. Bank of America has been in contact with the Governor’s office, which is leading the response and has declared a state of emergency.

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Elavon Certifies Precidia Transnet

Precidia Technologies Internet Protocol (IP) payment and networking products announced its “POSLynx220” with “TransNet” integrated payment solution has achieved Level 2 certification from leading global payments provider Elavon. This advanced certification means that merchants using Precidia’s “TransNet” payment application can cost effectively and securely process mail order/telephone order (MOTO) and e-commerce transactions, and can transmit CVV card data. The TransNet payment engine application, housed on Precidia’s secure POSLynx220 payment router, integrates seamlessly with ECRs, POS systems and other retail payment systems. Pre-certified with most credit, debit, gift and loyalty card processors, the complete solution is PCI PA-DSS validated, and features SSL encryption for additional peace of mind. For enhanced reliability, the POSLynx220 features automatic dial back-up in case of network failure.

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Yodlee Partners to Expand Boursorama Banking Platform

Yodlee online personal financial management (PFM) and revenue-generating payments solutions partnered with Boursorama to launch secure, comprehensive personal financial management. Within Boursorama’s Money Center personal financial management, Yodlee is powering the “Money Center” free of charge to Boursorama Bank customers. With this, users can track and analyze spending by category; manage scheduled transactions; and review historical data. Also users can automatically import accounts from any major French bank with only a few clicks to receive a comprehensive and actionable overview of finances and transactions.

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Elavon Certifies Precidia Transnet

Precidia Technologies Internet Protocol (IP) payment and networking products announced its “POSLynx220” with “TransNet” integrated payment solution has achieved Level 2 certification from leading global payments provider Elavon. This advanced certification means that merchants using Precidia’s “TransNet” payment application can cost effectively and securely process mail order/telephone order (MOTO) and e-commerce transactions, and can transmit CVV card data. The TransNet payment engine application, housed on Precidia’s secure POSLynx220 payment router, integrates seamlessly with ECRs, POS systems and other retail payment systems. Pre-certified with most credit, debit, gift and loyalty card processors, the complete solution is PCI PA-DSS validated, and features SSL encryption for additional peace of mind. For enhanced reliability, the POSLynx220 features automatic dial back-up in case of network failure.

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SERVERSIDE GROUP OFFERS PCI DSS-COMPLIANT ZERO INTEGRATION

The Serverside Group is now offering issuers a low cost, hassle-free way to run card customization programs on the PCI DSS-compliant solution from Datapipe managed service provider. Allowing Serverside Group to capture and securely host cardholder data itself, this offers issuers a zero integration system with less cost to implement a card customization program. The Serverside Groupʼs “AllAboutMe” card customization technology focuses on boosting card usage levels, increase average balances and improve both acquisition and retention rates. Datapipe offers a single provider solution for managing and securing mission-critical IT services, including cloud computing, infrastructure as a service, platform as a service, colocation and data centers.

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GlobalPlatform issues trusted service specs for NFC

GlobalPlatform released a standard language which uses web services to facilitate secure and interoperable communication between trusted service managers (TSMs) and the rest of the mobile near field communication (NFC) ecosystem. Free to download from the GlobalPlatform website, two new specifications released by the organization address the communication needs of TSMs, which are independent and trusted third parties that facilitate the provisioning and secure management of mobile contactless services. TSMs must be capable of interacting with all mobile network operators and service providers in an interoperable and secure manner. This will ensure that all parties deploying and managing mobile NFC applications can transport messages efficiently using web services.

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Debit Usage to Grow 50-70%

The debit card market is expected to see a 50% to 70% growth in terms of usage this year as a result of stricter credit card measures aimed at reducing household debts.Introduced in 2005, debit card usage in 2010 has grown by 68% year-on-year to approximately RM4.7bil. At the same time, there was limited awareness among the consumers and merchants about the benefits of debit cards. The minimum annual income requirement for credit card eligibility has been raised to RM24,000 from RM18,000 previously. For cardholders earning RM36,000 per annum and less, they can only hold credit cards from a maximum of two issuers and the maximum credit limit for those earning less than this amount had also been capped to double the monthly income of the card holder from each issuing bank. The average value of annual transaction per card for credit cards in 2010 stood at RM9,338 while that for debit cards was merely RM141. The drop in number of credit and charge cards in 2010 was due to the imposition of the RM50 service tax.

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Costs Up Sharply for New Credit Card Accounts

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] During the first half of the last decade the cost to book new credit card accounts (CPA) rose some each year. Since 2007, however, the more recent annual average CPA has risen dramatically, according to the R.K. Hammer CPA Model just released. In their annual year-end series of card industry metrics…

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USA Technologies Extend Management Employment Agreements

USA Technologies wireless, small-ticket cashless transactions extended employment agreements for the Company’s executive leadership team, including that of George R. Jensen, Jr., Chairman & CEO. Also included are Stephen P. Herbert, President & COO, and David M. DeMedio, CFO through June 2014. The Company will also issue 125,000 shares of Common Stock to Mr. Jensen, 75,000 shares of Common Stock to Mr. Herbert, and 25,000 shares of Common Stock to Mr. DeMedio. USA Technologies is a leader in wireless, small ticket cashless, associated financial/network services and energy management and provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.

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