PAYWARE FUSION

Trintech Group has launched “PayWare Fusion,” a complete framework and
components platform for online payments.The new solution layers together
Trintech’s “Fraud Management,” “Secure Infrastructure,” and “Multi-Channel”
payment technologies. “PayWare Fusion” is targeted at financial
institutions and service providers that want to provide Web-based
statements, bill payment, micropayments, person-to-person payments, and
account management services to their customers by utilizing the highest
security standards and payment technologies. The solution is also targeted
at government institutions that want to provide access to personal
information under the UK’s Data Protection Act and access to government
services, such as driving license applications, benefits entitlements and
applications, and public access to
legislation documents. The bill payment module of “PayWare Fusion” is of
particular interest to operators that want to allow their customers to pay
or top-up their mobile phone charges via credit card or ACH without the
regular re-entry of credit card or bank account details. The EBPP solution
provides ease of use for consumers combined with the back-end data security
and flexibility of integration required by service providers.

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Weatherized ATMs

Dallas-based Fujitsu Transaction Solutions rolled out of new, weatherized island ATM drive-up unit that defies “Mother Nature.” The self-contained “Model 8031” offers banks, credit unions and other financial institutions next-generation features, including a high-contrast color display and a small footprint. FiSource Inc., a Fujitsu business partner and ATM value-added reseller headquartered in Albuquerque, installed the first “Model 8031” unit at the First National Bank of Artesia. The Web-enabled “Model 8031” also offers full ADA compliance, including the industry’s first text-to-speech synthesis for the visually impaired; and the dispensing of cash as well as stamps, coupons, event tickets, and credit card-sized gift cards.

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RBA PROTEST

MasterCard International and VISA International have asked an Australian
Federal Court to review the new credit-card regulations proposed by the
Reserve Bank of Australia. The associations say the Reserve Bank of
Australia hasn’t complied with its obligations under the Payment Systems
Act, and that the proposed changes don’t meet the public-interest test
required under the act. In August, the Reserve Bank of Australia released
its final reforms on credit card programs which include dropping average
interchange fees by 40% and lifting the restriction imposed by credit card
programs which prevent merchants from recovering from cardholders the costs
of accepting credit cards. Under the new RBA rules, interchange fees will
decrease from around 95 basis points to approximately 55-60 basis points by
July 1, 2003. The Reserve Bank’s standard on merchant pricing will come
into force on January 1, 2003. The RBA also announced an end to
restrictions imposed by credit card networks which limit the entry of new
competitors. Specialist credit card institutions authorized and supervised
by the Australian Prudential Regulation Authority will now be eligible to
apply to participate in credit card programs. All the reform measures will
apply to the credit card networks operated in Australia by Bankcard,
MasterCard and VISA, which were formally designated by the Reserve Bank as
payment systems subject to its regulation under the Payment Systems
(Regulation) Act 1998. American Express and Diners Club have each indicated
to the Reserve Bank that they will remove their restrictions on merchant
pricing.

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ICBA Discounted Telecom

The Independent Community Bankers of America has partnered with Profit Technologies to offer ICBA members discounted telecom rates ranging from 20% to 40% off.ICBA members can contract for a telecommunications cost-management audit at reduced pricing. This service provides a detailed analysis of all telecommunications expenses with the objective of recovering past overpayments and reducing future operating expense.

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Australia Fight

MasterCard International has asked an Australian Federal Court to review the new credit-card regulations proposed by the Reserve Bank of Australia. Friday’s action followed VISA International’s action on Thursday. The association say the Reserve Bank of Australia hasn’t complied with its obligations under the Payment Systems Act, and that the proposed changes don’t meet the public-interest test required under the act. In August, the Reserve Bank of Australia released its final reforms on credit card programs which include dropping average interchange fees by 40% and lifting the restriction imposed by credit card programs which prevent merchants from recovering from cardholders the costs of accepting credit cards. Under the new RBA rules, interchange fees will decrease from around 95 basis points to approximately 55-60 basis points by July 1, 2003. The Reserve Bank’s standard on merchant pricing will come into force on January 1, 2003. The RBA also announced an end to restrictions imposed by credit card networks which limit the entry of new competitors. Specialist credit card institutions authorized and supervised by the Australian Prudential Regulation Authority will now be eligible to apply to participate in credit card programs. All the reform measures will apply to the credit card networks operated in Australia by Bankcard, MasterCard and VISA, which were formally designated by the Reserve Bank as payment systems subject to its regulation under the Payment Systems (Regulation) Act 1998. American Express and Diners Club have each indicated to the Reserve Bank that they will remove their restrictions on merchant pricing. (CF Library 8/27/02)

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Amazon Platinum

Bank One and Amazon.com have released the “Amazon.com Platinum VISA” card. As part of an introductory offer, individuals who apply for the new Amazon.com card and use it at Amazon.com before November 15th, will earn a $20 promotional certificate toward a future Amazon.com purchase. Cardholders also earn three points for every dollar spent on Amazon.com purchases and one point for every dollar spent on all other purchases. Each time cardholders accumulate 2,500 points, they will automatically receive a $25 reward certificate to use toward Amazon.com purchases. Go-to interest rates are 8.9% fixed, 10.9% fixed, or 12.9% fixed.

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