Bottomline Technologies Acquires Direct Debit

Bottomline Technologies collaborative payment solutions has acquired UK-based Direct Debit Limited (DDL) payments automation software for direct debits for corporations, banks, financial institutions and government organizations. This improves inbound cash flow and reduces days sales outstanding. This also expands Bottomline’s transaction banking portfolio and allows banks to offer white-labeled receivables management solutions to their corporate customers. Bottomline helps banks differentiate their portfolio by offering transaction banking solutions to their customers, thereby enhancing relationships, driving transaction revenues and increasing profitability.

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TriZetto Acquires Gateway EDI for Payer-Provider Connectivity

The TriZetto Group has signed an agreement to acquire privately held Gateway EDI revenue cycle management (RCM) for undisclosed terms. Offering payer-provider connectivity to drive enhanced work-flow processes and cost reduction across the industry, the Companies combined platforms to give providers direct real-time access to payment information for almost half of the insured U.S. population. TriZetto will invest significant resources to integrate the two companies’ platforms and develop connectivity solutions that strengthen payment processing and care-collaboration programs.

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MoneyGram Launches Musician Contest in South Asian

MoneyGram International is leveraging its ICC partnership for the ICC World Cup 2011 championship by launching the MoneyGram “Cricket for Peace” program across South Asia. The multi-country, multi-language consumer initiative will be launched across nine cities in Bangladesh, India and Sri Lanka. The “Cricket for Peace” initiative is a theme-based music contest that links cricket with world peace and invites music -and cricket-lovers across the three world cup hosting nations to create music compositions that depict how cricket can foster the spirit of world peace. The MoneyGram “Cricket for Peace” finale will take place a day before world cup final match in Mumbai on April 1, 2011.

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Moneris Releases Statement on Card Code

Having recently informed merchants of a revised pricing structure, in complete compliance with the Code, Moneris introduced an interchange differential fee to better align a merchant’s cost of processing payments with the types of cards they accept. According to Moneris, the introduction of premium cards has increased pricing complexity in the Canadian market place and as such processing costs for merchants may trend higher because premium cards attract a higher interchange rate, as set by the payment networks, such as Visa and MasterCard. This pricing structure is not proprietary to Moneris and is currently used, in Canada, by Chase Paymentech and, most recently, TD Merchant Services.

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Wincor Nixdorf U.K. to Implement Payment Network Testing

Wincor Nixdorf’s United Kingdom office has licensed several of Lexcel Solutions’ software and services for the payment technology applications. This will let the Company more effectively test and manage processing in its hosted transaction processing center. Wincor Nixdorf is a World-leading provider of innovative IT solutions to the retail and retail banking industries. These include the implementation of Lexcel’s “TestSystem” Network, a technology platform providing a complete solution for testing transaction authorizations against regional and global networks, and “TestSystem” POS, software that speeds the process of application development and allows acquiring systems to be exercised without the need for additional hardware.

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NetSecure Technologies Announces New Website

NetSecure Technologies announced a new website to better reflect the company’s strengths and growing product line – developing breakthrough security solutions for online transaction security. NetSecure’s product suite, powered by its patented Dynamic SSL technology, provides complete protection from endpoint security threats by ensuring that sensitive information is never present in the data stream until the point of encryption. The Company’s “SmartSwipe” online purchase security system, enables consumers to swipe their credit cards at home for secure transactions while shopping online. According to a recent survey of 1,000 consumers and small businesses, there is a clear demand for such devices with nearly 70 percent of respondents indicating they would use one if their financial institution or credit card company offered it. Meanwhile, its “PINCheckout” chip and PIN technology solution enables card issuers and financial institutions to offer their customers a secure online shopping environment for their chip and PIN transactions.

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airtel Africa, Standard Chartered Bank and MasterCard mPayments Innovation Recognized

airtel Africa, Standard Chartered Bank and MasterCard were honored for mobile payments innovation at the 16th Annual Global Mobile Awards held during Mobile World Congress (MWC) 2011. The recently launched virtual card product, developed in collaboration between airtel Africa, Standard Chartered and MasterCard, received top honors as the Best Mobile Money Product or Solution. Honored by a panel of mobile industry experts, the virtual card product was recognized as an innovative mobile payments solution that will offer consumers in Kenya, and eventually across Africa, greater participation in the financial system through mobile commerce.

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US Economic Indicators Leveling Off, Still Up

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Leading Economic Index (LEI) for the U.S. stretched upward 0.1% in January to 112.3 (2004 = 100), but is not as high as a 0.8% increase in December nor a 1.1% increase in November. This is in conjunction with recent CardFlash research indicating bankruptcies are way down, credit…

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ICBA & NRF Push for Interchange Reform

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The National Retail Federation is urging Congress not to delay debit card swipe fee reform. The NRF insists the card industry’s push for postponement could cost retailers and their customers more than $1 billion per month. The Independent Community Bankers of America (ICBA) also told Congress to hop to reforming the…

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Card with Mind-Blowing APR Yanked, Citing ‘High Demand’

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The First Premier Bank 59.9% APR MasterCard-yes you read that correctly- has been removed from its offering, claiming it was too popular and has reached some sort of issuing limit for the month. First Premier Bank will instead be offering a secured card with a 19.9% APR, for which if the…

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AmEx Research Shows Consumer Spending Restrained

American Express Business Insights released its series of Q4 2010 Business Insights Spend Sights reports, indicating which sectors of the economy may be on the upswing. Businesses posted notable increases in travel spend while consumers seemed more inclined to exercise restraint, with small businesses having spent 7% more on airfare in Q4 and 38% more on business-class tickets while large businesses posted a 6% increase in spend on airfare and a 38% uptick in business-class tickets. Large businesses led spend growth in corporate spending with a notable 10% increase in entertainment spend. Retail spending activity in Q4 showed businesses and consumers spending more, with department stores posting a 13% increase in spend over the year prior, a signal, perhaps, that time-strapped consumers were on the lookout for “one-stop-shopping” opportunities.

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Intuit Reports Quarterly Revenue up 5% Y/Y

Intuit posted its financial results for its second fiscal quarter, which ended Jan. 31, with revenue up 5% to $878 million since the year-ago quarter. For fiscal year 2011, the company expects revenue of $3.74 billion to $3.84 billion, growth of 8 to 11%. Intuit’s Payments Solutions revenue grew 7% compared to the year-ago quarter, merchants grew 14% compared to the year-ago quarter and transaction volume per merchant grew 1%. Meanwhile, internet banking users increased by 10 percent, while bill pay users grew 23 percent compared to the same quarter last year.Small Business Group revenue increased 15% compared to the year-ago quarter, for which Financial Management Solutions revenue increased 21% compared to the year-ago quarter. Total Small Business Group revenue grew 15% compared to the year-ago quarter. Growth in small business was led by strength in Financial Management Solutions and Employee Management Solutions. With this, the Company is projecting revenue of $1.76 billion to $1.83 billion for the next quarter for growth of 10-14%.

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