MoneyGram International Expands Executive Team

MoneyGram International global money transfer has appointed Phyllis Skene-Stimac as SVP and chief compliance officer and Patricia Sullivan SVP, communications. Stimac brings to the roll 20 years’ experience running compliance programs for financial services institutions, most recently as Deputy Chief Compliance Officer at Western Union, and specializes in anti-money laundering and regulatory programs. She will focus on advancing MoneyGram’s Global Compliance efforts. Meanwhile, Sullivan brings to her new role more than 20 years’ marketing and public relations experience in consumer brands and financial services, most recently as senior director of communications for Blockbuster and will be responsible for reputation management and building brand awareness.

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Half of Can-Do-Cash ATMs EMV compliant

Over 50% of Canada-based Can-Do-Cash ATMs are now EMV compliant and have met The Interac Association’s deadline for ATM networks to do so by Dec. 31. This was thanks to its transaction processor, TNS Smart Network The Interac Association will require Can-Do-Cash and other Canada-based ATM operators have their entire fleet of machines EMV complaint by Dec. 31, 2012. Can-Do-Cash owns and operates around 800 white-label ATMs in Ontario and Quebec provinces and is expanding to Manitoba.

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First Data to Provide Kohl’s Card Processing

First Data electronic commerce and payment processing has entered into an agreement with Kohl’s Department Stores to provide payment processing services for the company’s private brand credit card accounts. The multi-year agreement calls for First Data to provide Kohl’s with credit card processing, customer analytics, risk management services and automated customer service workflow tools. Financial terms of the agreement were not disclosed. Kohl’s partnership with First Data will not affect Kohl’s current credit card arrangement with Chase or the company’s previously announced agreement with Capital One.

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VantageScore Scoring Made Available to Lenders

VantageScore Solutions has launched its “VantageScore 2.0” credit scoring model. Now available to financial institutions in a production environment from Equifax, Experian and TransUnion, “VantageScore 2.0” is fully implemented at each CRC and was redesigned in response to a recent profound change in consumer credit repayment behavior. This recent update is to ensure scoring remains as accurate and predictive as possible and was built using a development sample compiled from the 2006 – 2008 and 2007 – 2009 performance timeframes to reflect more recent credit conditions. It captures both a broad and recent set of consumer behaviors across the full spectrum of economic events, reducing algorithm sensitivity to highly volatile behavior that can be found in a single timeframe and extending performance stability over time.

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SCA Launches Open Bank Card Payments Workshop

The Smart Card Alliance Transportation Council is kicking off its full-day educational workshop on open bank card payments for transit. The workshop will offer a comprehensive view of open bank card contactless payments and how they pertain to transit. Industry expert speakers will discuss alternative architectures for open transit fare payment and provide practical planning and implementation guidance for developing the business case and procurement strategy for open bank card payments.

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NEOVIA Acquires Optimal Payments Online Payments

NEOVIA has entered into of a definitive agreement to acquire the Optimal Payments online payments business and and all its assets for consideration of up to US$50 million in cash, shares, vendor debt financing and warrants. This development will allow NEOVIA to offer straight through processing solutions to merchants in North America and Europe, with Optimal processing more than US$ 2.5 billion in transactions every year. This Dramatically diversifies and broadens NEOVIA’s merchant base; provides a strong North American presence and fuller exposure to rapidly growing e-commerce markets.

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FICO Launches Debt Recovery Solution

FICO analytics and decision management technology has released its “PlacementsPlus” service 6.0 collections agency management service. The FICO “PlacementsPlus 6.0” includes enhanced analytics and more sophisticated reporting tools for optimized operational results and increased debt recovery. The service ultimately gives creditors new tools to optimize the distribution of their debt among collections agencies, matching specific debt attributes with the agencies best suited to that type of debt. The service also now enables creditors to set multiple and customized debt recovery thresholds and to track and evaluate progress and adjust as needed.

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Views Changing on Data PCI Compliance

Currently, 70% feel their organization is more secure than it would be if PCI compliance were not required while 87% believe that the PCI requirements are necessary for protecting cardholder data. Meanwhile, 67% anticipate their spending on PCI compliance will increase in the next year. This, according to Cisco research, also shows 60% suggested PCI-compliance projects can drive other network or network security projects and 43% were most perplexed with the challenge of educating employees on the proper handling of cardholder data while updating antiquated systems was the most encumbering to 32%. Additional findings show government respondents fared better than all other sectors analyzed, with 85% passing their initial assessment while health care organizations only achieved a 72% pass rate and over 85% were aware of the clarifications and recommendations associated with the newly announced PCI DSS 2.0 standards.

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ABN AMRO Clearing joins LCH.Clearnet

ABN AMRO Clearing has successfully commenced clearing its interbank interest rate swap (IRS) trades through SwapClear, LCH., Clearnet Ltd’s (LCH.Clearnet) market leading over-the-counter (OTC) IRS clearing service, thereby significantly reducing counterparty, credit and operational risk. The total number of SwapClear clearing members now stands at 37. ABN AMRO Clearing is a leading global securities services provider, covering 85 of the world’s leading exchanges across Europe, the Americas and Asia-Pacific. It has 12 offices across the globe and consistently ranks among the top 3 clearers in every time zone, based on the amount of turnover and market share.

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PaymentOne Announces mPayment Solution

PaymentOne phone-enabled payments has made available its “AnyPhone” for dating and is the Payment Industry Sponsor for “iDate 2011” business dating trade show. The “AnyPhone” carrier-based payment solution provides the online dating industry payment with an effective way to increase the paying customer base for subscriptions and one-time payments. In doing, so it allows users to charge to their mobile, landline or broadband bills. PaymentOne Corporation is the global leader in phone-enabled payments for landline and mobile carrier billing, and one of the world’s fastest growing and profitable Payment Services Providers.

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19% to Spend More on Valentine’s Y/Y

This year, 32% are planning to do their Valentine’s Day shopping online, 9% greater than last year, while 19% plan to spend more money on their sweetheart, 7% greater than those who intended to spend more than the prior year in 2010. Additionally, 60% plan to purchase something other than chocolates or flowers this year and 18% plan to purchase a gift card for their Valentine. This, according to the eBillme “Online Spending Index,” also shows 47% remain uncertain about what to purchase for Valentine’s Day representing an opportunity for retailers to win these sales.

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