FDC Processes Chase Online Foreign Currency Payments

First Data has signed a deal to process online foreign currency payments for Chase Paymentech Solutions. Under the five-year agreement First Data, utilizing its “OmniPay” processing solution, will provide payment processing services to Chase Paymentech’s portfolio of global e-Commerce merchants. The Dublin, Ireland-based “OmniPay” merchant processing platform will process transactions for Chase Paymentech’s merchant portfolio, in most major currencies on a single platform in all markets where Chase Paymentech’s merchants are based.

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Diebold Consolidates its EMEA Operations

Diebold is consolidating its EMEA operations in a new
headquarters location in Switzerland and is consolidating its international business operations. James Chen and Joao Abud have been promoted to lead the international business operations for the company. In addition to leading the company’s Asia Pacific operations, Chen will lead all sales and service operations in the Europe, Middle East and Africa (EMEA) region as vice president, EMEA/AP Division. Abud, in addition to his current leadership responsibilities in Brazil, will oversee the sales and service operations throughout all of Latin America as vice president of the company’s expanded Latin America Division.

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TSYS Increases Equity Stake in China UnionPay

China UnionPay Data Services has agreed to let TSYS increased its equity interest to 44.5%. Separately, TSYS announced that David Duncan, has been appointed managing director of TSYS Asia-Pacific. Effective immediately, Duncan has relocated to Shanghai to oversee the company’s relationships with CUP Data and its clients, and to coordinate all TSYS activities in the continental Asia-Pacific. CUP Data is China’s largest bankcard processor, providing transaction processing, disaster recovery and other services for issuing banks in China. Since CUP Data was established in 2003, the company has been providing processing services to 16 of China’s 29 credit card-issuing banks, while 12 of the remaining banks continue these services in house.

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Magex Managed Payments Platform Acquired by BankServ

San Francisco-based BankServ has acquired Magex Managed Payments Platform. The Magex Managed Payments Platform division is the producer of P2P systems that let consumers exchange money over the Internet or using their mobile phones. As a result of the deal, BankServ gained a new client in Zopa, an online lending exchange with more than 90,000 members in the United Kingdom. Zopa’s marketplace allows members to lend money to or borrow from each other directly in a secure online environment.

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Welcome’s XLS Payment Software goes Contactless

Welcome’s “XLS” payment software is now available for contactless cards. The software adds substantial new features to the
basic off-the-shelf card products currently being deployed by banks.
XLS-enabled contactless payment provides merchants with innovative
promotional marketing features, while offering cardholders an
intelligent contactless card that gives instant recognition and a
hassle-free shopping experience. This is achieved through a single
tap-and-pay process, with no loss of speed for the entire transaction.
Welcome plans to showcase XLS-enabled contactless payments during the
Cartes 2006 in Paris in early November.

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OTI Powers Garanti Bank’s PayPass Cards

On Track Innovations it is now providing Garanti Bank “Tap & Go” inlay solutions. Garanti bank is currently reissuing “Tap & Go” cards, which use MasterCard “PayPass” technology, to its “Bonus” cardholders.
Garanti is also looking at the possibility of other form factors such as inlays, key fobs, wristwatches, including reader solutions. Garanti Bank is the third largest private bank in Turkey.

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Barclaycard Introduces a Student MasterCard

Barclaycard has revamped its student credit card. The new “Barclaycard Student” credit card offers a credit limit of GBP 600 at account opening; no fee for accidentally going over the credit limit; free text message reminders when the monthly payment is due; and a minimum monthly repayment of 5%. Other features include: a new, low standard purchase APR of 14.9% and a new rate of 14.9% on cash advances.
Barclaycard Student can also help with university studies with its offer
of a Dell notebook at an exclusive price of GBP 360.

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