iPhoneSwiper & Impact PaySystem Launch iPhone Terminal

iPhoneSwiper and PaySystem has partnered to offer there wireless credit card processing terminal for free with a merchant account from Impact PaySystem. iPhoneSwiper has an integrated credit card magnetic-stripe reader, Infra-red barcode scanner, and thermal printer. Coupled with the gateway software through iPhoneSwiper powered by Impact PaySystem, it allows merchants to easily view and control all their store’s products through the iPhoneSwiper software for a fully functional POS system which uses the UPC barcode scanner to quickly create an order and accept payment for it and automatically update the database and inventory while orders are being placed.

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Intuit Offers Rides and Grub at SXSW Interactive

In Austin, TX, Intuit “GoPayment” is sponsoring a fleet of 20 Metrocycle pedicabs so anyone can get a ride and pay with plastic during SXSW Interactive 2011. Additionally Passengers can follow @GoPayment on Twitter to obtain a secret password, share it with their driver, and ride for free. Intuit decided to work with local pedicab service Metrocycle to enable easy access to fast and fun transportation for attendees. Each ‘GoCab’ will be using Intuit GoPayment so passengers don’t need to worry about carrying cash and ‘GoCab’ drivers can get paid fast.Intuit is also working with popular mobile food truck, Chi’Lantro. GoPayment offers a free credit card reader, no monthly fee and works on more than 40 mobile devices, including the most popular iOS, Android and Blackberry devices.

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Cadence Receives CBC Investment Round

Community Bancorp completed its acquisition of Cadence Financial Corporation, to which it has invested $144 million to strengthen capital base, develop new products, enhance customer service and expand community investments across Cadence Bank’s five-state market area. With this, Cadence announced Paul B. Murphy, Jr., Frank Cox, Stan Levy and John McWhorter were elected as directors of Cadence Financial Corporation. Mark A. Abernathy will continue as a director of Cadence. Mr. Murphy is President of CBC, Mr. Cox is Chief Information Officer of CBC, Mr. Levy is CBC’s Chief Risk and Credit Officer, and Mr. McWhorter is CBC’s Chief Financial Officer.

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CoCoNet Launches Corporate mBanking App

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CoCoNet has made available its “MULTIVERSA EBICS App” mobile banking app for corporate customers to manage their bank accounts in Germany and France. With many other countries to join the host list throughout Europe, the e-banking app is available for various smart phones and tablet PCs. The European multi-bank communications standard…

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UBA Launches Visa Debit Card

After having assessed its customers’ challenges with accessing money from overseas, the United Bank of Africa has designed its Visa Debit Card. Focusing on the needs of traveling business people, the UBA Visa Debit card allows cardholders to travel to different countries without worrying about changing currencies, as the card can be used in many countries. UBA has footprints in 18 African countries with a vision and objective to be the undisputed, leading and dominant African bank by offering its customers superior quality and efficient customer service and value and by upholding the highest standards of professionalism.

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Ingenico & MRL PosNET Launch Encryption Solution

To offer secure, innovative, efficient and light-weight POS applications, Ingenico payment solutions partnered with MRL PosNET Indian-based merchant services to launch their “SecureNET” Line Encryption solution for POS Terminal. Encrypting POS messages across different communication channels, such as DSL broadband, Cable modem broad band, Data enabled GPRS SIM or Data enabled CMDA fixed wireless phones, the POS terminals will be deployed by around 25,000 throughout 2011. Developed on the Ingenico platform, the “SecureNET” solution ultimately gives the merchant flexibility and lets them transact using any open network infrastructure. It encrypts the entire transaction packet from the POS to the Switch using 3DES encryption as well as Visa recommended best practices for key generation, storage, transportation and injection.

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Tanla Launches Cross Platform Billing Application

Tanla Solutions has launched its “TPAYmobile.com” cross platform on device mobile payment service for mobile applications and games. This allows developers access to billing on over 100 mobile networks as well as the ability to charge through Credit & Debit cards globally and the ability to monetize through in-application billing, try & buy, time bound licensing and subscriptions with absolutely no starter or joining fee. With its try & buy feature, developers can promote their content by providing free time bound trials and converting users to paying customers using on device payments. Its based on a client-server architecture, where the client integrates with the end user application and consumers have the choice of paying either through credit cards or directly on their phone bill.

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GBP 10K+ In PCI Fines Charged to Retailers

With many online retailers failing to meet basic security procedures, mostly thanks to having chose the wrong suppliers, criminals have become more reactive to new technology and have discovered that they can make a vast amount of money by fraudulently obtaining card details from unsecure websites. The payment card industry has up until recent years footed the bill for these compromises in data security, but with increased criminal activity, the PCI requires retailers and strictly enforces compliance. Subsequently, payment card providers such as Visa and Mastercard have imposed stringent fines on retailers, which have already been issued throughout 2011. The Payment Card Industry Security Standards Council (PCI SSC) has set up two sets of rules that online retailers would be wise to follow, the first composed of technical and operational requirements (PCI DSS) and the second composed of 12 PCI Requirements which when implemented in their entirety ensure that software is as secure as possible.

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Consumer Bankruptcy Filings Explode 11% in February

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Nearly halving the improvements seen in January over December-with filings having plummeted a staggering 22% to only 92,669 from 118,146-consumer bankruptcy filings exploded 11% between January and February. This follows the lowest monthly filing total since the two-year ago figure in January 2009 when 88,773 filings were recorded. With this increase,…

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Unemployment Flat M/M in February at 8.9%

Nonfarm payroll employment was 192,000 in February as the unemployment rate was stagnant at 8.9% from 9.0% in January. Those unemployed totaled 13.7 million, having fallen 0.9% since November 2010. Meanwhile, 8.3 million lost jobs a figure which has fallen by 1.2 million over the past 12 months as those jobless for 27 weeks or more totaled 6.0 million, accounting for 43.9% of the unemployed. Involuntary part time workers subsidizing for lost hours totaled 8.3 million in February, while 2.7 million were marginally attached to the labor force, up from the year ago figure of 2.5 million. Among these, 1.0 million are workers having given up job searching, down from the year ago figure of 184,000.

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BillingTree Forecasts Over 20% Growth in 2011

BillingTree on-demand payment processing grew 33% throughout 2010 while in January and February 2011 closed two consecutive record months. Throughout the year, BillingTree increased its staff headcount by 25% and has now established a 1,600 strong base of customers, along with the formation of 63 strategic alliances and its new ISO program, which has already led to considerable opportunities in new verticals. In 2010 BillingTree added key technology developments to its payments processing portfolio to drive its growth, including Pre-funded accounts, “PaynCash” and “Debit Cards Only.” In 2011 it has already added a new mobile payments suite, which includes billing and paying by text. With these developments and additions, the Company is forecasting at least 20% growth for 2011.

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Premier Credit Implements Dwolla Technology

Premier Credit Union is set add online, mobile and social payments platform Dwolla to its existing member services. This no more than 24 hours after Dwolla mobile, supported by The Members Group (TMG), introduced its “Dwolla Spots” location-based payment technology, allowing users to pay for goods or services on-site for a flat transaction fee of 25 cents. Allowing users to exchange money on location from a mobile device, the Dwolla platform lets users download the Dwolla mobile app and begin making mobile transactions immediately. The Dwolla user selects the new Spots tab from within Dwolla’s mobile application to pay merchants on a location-based map and entering the transaction amount. The “Dwolla Spots” solution is exclusive to the Apple iOS and will be released later this month in the Apple App Store (CardFlash Library, 2011-03-03).

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