iKaaz Deploys NFC ‘Tap & Pay’ Reader for mPOS

iKaaz mobile payment solutions launched its “Tap & Pay” reader to enable cashless transactions based on NFC technology. iKaaz is making mobile payments faster and has broken this crucial cost barrier and has released a cost effective NFC reader for merchants. iKaaz’s proprietary NFC Reader can be plugged into to any mobile phone to convert it into a mobile POS (point of sale) device and is priced at less than US$ 20 (INR 1000). In order to engage the consumer ecosystem, iKaaz offers consumers an NFC Sticker priced at less than US$2 (INR 75) that convert any mobile phone into an NFC-enabled phone.

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Fiserv Launches Mobile Loading on Prepaids

Fiserv financial services technology launched its mobile loading capability for prepaid cards. Allowing cardholders to safely load immediate, guaranteed funds from a personal or business check using a smartphone’s camera, “Prepaid Source Capture” is made available on the Fiserv “Mobile Source Capture.” This provides prepaid processors the ability to guarantee a check before it is accepted and offer their cardholders a mobile service to increases card load volumes and customer retention. Consumers can make a deposit by downloading their prepaid processor’s app and taking a picture of the front and back of a paper check with a smartphone. They can then securely load the check deposit electronically to a prepaid card – without visiting a bank or ATM. This ultimately reduces risk for prepaid processors by providing real-time verification and instant funding for the consumer. The same report shows growing demand for prepaid cards, especially among unbanked households, which saw usage jump 50 percent in three years.

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Bank of America Names New Market President

Bank of America announced that Adriana Kong Romero has been named market president for Tucson and Southern Arizona. To serve as the enterprise leader in the region, she will work with company leaders to help deliver a wide range of global financial services to more individuals and businesses locally as well as deepen relationships with existing customers. She will also oversee corporate social responsibility activities including philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism. Romero is also a senior client manager for Bank of America Merrill Lynch’s Business Banking Group in Tucson and Southern Arizona, which provides strategic, integrated financial advice and solutions to small and mid-sized businesses. She has also worked on growing and expanding the healthcare industry focus for Arizona and the Business Banking Central Region. She is a graduate of the University of Arizona with a B.S. in finance and holds an M.S. in organizational management from University of Phoenix.

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First Tech Launches Native Windows Phone Banking App

First Tech Federal Credit Union launched its new Windows Phone mobile banking app, making it the first credit union in the United States to introduce a native Windows Phone mobile banking app complete with integrated mobile deposit and bill pay functionality. First Tech members can now bank from their Windows Phone, iPhone or Android smart phone anytime, anywhere. App features include access to First Tech accounts anytime, anywhere; making deposits with mobile e-deposit; paying bills; transfer funds and finding a First Tech branch. First Tech will launch its new Windows phone app on-site at the main Microsoft campus, giving employees of Microsoft an in-depth look at this new platform.

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Helixion Launches mPayments Platform

Helixion NFC mobile payment launched its lok-MPL mobile payments platform, a complete multi-scheme application platform for mobile NFC payments. The lok-MPL platform is the first to enable the creation of mobile payment applications that operate across any digital wallet, any payment scheme, any phone and any secure element. The lok-MPL platform is backed by comprehensive consultancy and support services to ensure banks, mobile network providers and third party solutions providers can maximise their investment in NFC mobile payment applications. After extensive testing and piloting with major European banks and network operators, there will be a series of commercial roll-outs of lok-MPL based mobile payment applications throughout 2013.

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Global Payments Strengthens NFC Foothold

Global Payments strengthened its payment offerings in the UK following the latest roll-out of Intuit Pay integrated m-payment solution. The addition of Intuit to the marketplace is a significant step toward the more widespread adoption of mobile payments among small businesses in the UK. It is fully chip and PIN compliant and allows small businesses and individuals to accept card payments with their mobile phone, using a dedicated reader and downloadable app. Intuit Pay was recently featured as iTunes Editor’s Choice App of the Week and reached number six in the iTunes Business App Store.

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Ukash Deploys Cardless Cash Withdrawals Service

Ukash announced its Cash Withdrawals cash access service offering. Offering consumers a convenient was to access cash at ATMs without a credit or debit card. In partnership with PayPoint, Ukash allows consumers to spend cash securely online, removing the need to reveal personal financial information. Ukash codes are purchased with cash in retail outlets such as shops and petrol stations. The unique 19 digit codes can then be used to pay directly on thousands of websites that accept Ukash transactions worldwide. Established in 2001, Ukash has grown to more than 460,000 physical points of purchase, including 50,000 in the UK, and is available in more than 50 countries around the world.

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NCR, MasterCard and ING Expand Contactless ATM Footprint

NCR Corporation global technology company introduced its contactless ATM environments. Working with MasterCard and ING Bank to bring the new technology to customers in Poland, this pilot program was launched in November, allowing ING customers in Poland to quickly and easily withdraw cash from an ATM without needing to insert their card. Financial institutions and retailers are looking for a variety of methods to deliver flexible payment options for their customers. Beyond NFC-enabled devices, NCR has implemented or introduced proof of concepts using contactless cards, 2D barcode transactions, and one-time PINs for ATM transactions alone. The contactless-card enabled machines permit ING customers with VISA and MasterCard debit contactless cards to initiate fast cash withdrawals by holding their card near the ATM reader. Upon a confirmation of their PIN code, customers will have the choice of a cash dispense in common “fast cash” values.

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Conference Board Consumer Confidence Index Weakens

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Conference Board Consumer Confidence Index- after having improved in February- was down significantly in March to 59.7 from 68.0. Meanwhile, the Present Situation Index hit 57.9 from 61.4 and the Conference Board Expectations Index was down to 60.9 from the February figure of 72.4. This decrease was due in large…

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Virtual Piggy Appoints Mobile Strategist

Virtual Piggy safe youth payments appointed Iain Herd Global Mobile Product Director, bringing with him over thirteen years’ experience in product management, and seven years leading mobile initiatives at major corporations, Iain will be responsible for directing and managing Virtual Piggy’s Mobile First initiative, reporting directly to CEO and Founder, Dr. Jo Webber. Iain, an expert in mobile technology, held the role of Global Head of Mobile Partnerships and Product at PayPal wherein he launched a number of key mobile services including the PayPal Wallet app for Windows Phone in addition to developing Point of Sales solutions and carrier billing and device partnerships, establishing PayPal as a key player in the mobile industry. He also spent 5 years with Vodafone leading the management of global social networking initiatives, working with leading industry partners including Facebook, Skype, Windows Live, Yahoo!, Google and Twitter.

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AmEx & Milwaukee Committee Encourages Local High Growth Ventures

The Greater Milwaukee Committee (GMC) local business coalition announced Milwaukee will be the first community in the U.S. to develop an entrepreneurship program using a model developed by Daniel Isenberg, founding executive director of the Babson Entrepreneurship Ecosystem Projects. As part of a bipartisan effort to grow the economy by stimulating high-growth ventures and encouraging job creation, the OPEN for Enterprise model is based on testing and validating entrepreneurship ecosystems abroad, including successful programs in Colombia, Brazil and Denmark to foster policies, institutions and cultures that stimulate long-term economic growth, development and prosperity through programs and workshops. Coalitions for High-Growth Entrepreneurship is designed to help high potential urban communities connect a diverse group of stakeholders, including city planners, private investors, academics, entrepreneurs and public officials, to help maximize the social and economic value of the community’s entrepreneurship ecosystem. Merging their collective expertise, the coalition can help to develop community programs that identify new ways to stimulate, support and “scale up” new and existing ventures.

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