Electra Card Services Partners Raqmiyat on Expansion

ElectraCard Services software solutions for electronic payment systems, announced its partnership with Raqmiyat systems integrator. With this, Raqmiyat will be authorized to market & provide after sales services for electra™ suite of products & services to banking and financial customers. Raqmiyat has built knowledge bank & expertise to understand the specific need of BFSI markets and its partnership with ECS will enable Raqmiyat to offer a wider product portfolio to its existing customers.

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Steria and Experian Partner on Sepa Services

Steria and Experian partnered to deliver managed solutions in the SEPA compliant payments arena to offer corporate customers an end-to-end service that will take the pain out of managing SEPA, making the process more efficient and cost-effective. The partnership will bring total end-to-end solutions to corporate customers seeking SEPA readiness data conversion services, ongoing SEPA payments validation and compliance support. The partnership brings value added services to Corporate Treasurers and Chief Financial Officers (CFOs) seeking a total off-the-shelf solution to their SEPA data readiness needs.

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ANZ Deploys Bolero Finance

Australia and New Zealand Banking Group (ANZ) has successfully gone live with Bolero’s multi-bank trade finance solution, following a rapid implementation of the technology. ANZ is now live with major corporate customers in Asia, Europe and in North America and has plans to support other known Bolero customers now that this first implementation is complete. The Bolero web-based trade finance solution enables the automation of the end-to-end lifecycle of Documentary Credits, Standby Letters of Credit, Guarantees, Bonds and other traditional trade instruments for both Importers and Exporters as a true multi-bank solution.

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MasterCard Net Income Up 8% Year-Over-Year

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard Incorporated announced its 3Q/12 net income of $772 million, up 8%, and net revenue of $1.9 billion, a 5% increase versus the same period in 2011. Net revenue growth was driven by a 14% increase in gross dollar volume on a local currency basis to $918 billion; an increase in…

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eBay Plans 4Q/12 Restructuring Charge

eBay announced a planned fourth quarter pretax restructuring charge of approximately $15 million related to staff reductions at the company’s PayPal business unit. PayPal also is ending contracts with approximately 120 contractors globally thanks to a redesign of PayPal’s product organization, consolidating nine product groups into a single, more agile organization. The intent is to simplify and speed up how products are developed. PayPal expects to continue its strong global growth momentum and leadership through online merchant expansion and share of checkout, by driving payments innovation at point-of-sale retail for large, medium and small businesses, and by engaging consumers online and offline with payments products and experiences that offer choice, flexibility, simplicity and security.

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ControlScan and Allifide Forge PCI Partnership

ControlScan PCI compliance and security services eases small business PCI compliance through Allifide Merchant Group payment processing firm trusted by a national client base of hundreds of SMBs as well as more than 50 industry partners. Data from ControlScan’s recent survey of merchant acquirers shows that as SMB merchants’ PCI compliance rates increase, the occurrence of a data breach decreases. The partnership between Allifide and ControlScan saves Allifide’s merchants time and hassle”and reduces merchant confusion”with high-impact education and support services that guide them through each step of the PCI compliance process.

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First Data Joins 100,000 Jobs Mission

First Data electronic commerce and payment processing joined the 100,000 Jobs Mission, a coalition of major corporations that have jointly committed to hiring 100,000 transitioning service members and military veterans by 2020. First Data has recently reinvigorated its veterans recruiting strategy by hiring a retired veteran as the Employment Program Manager to develop programs to support and broaden service members and military veterans recruiting efforts. First Data invests in military friendly job boards and is committed to actively participating in veteran-focused career fairs as well as career expos on military installations.

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MasterCard Sees Fertile Ground for mPayments

Japan boasts an overall environment that is favorable for mobile payments. According to the results of the latest MasterCard Mobile Payments Readiness Index (MPRI), Japan earned the number six spot on the Index which analyzed 34 countries and their readiness to use three types of mobile payments: person to person, mobile web commerce and mobile contactless payments at the point of sale. The Index found that while Japan scored well on most of the components measured, consumer readiness is the critical success factor to drive mobile payments adoption in Japan. Meanwhile, 20% of Japanese consumers are familiar with mobile payments at point-of-sale, while only 8% are willing to use the capability. And at 91%, Japanese financial services received exceptional ratings for how well they treat consumers.

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Banco de Chile a Clear2Pay payment hub

Clear2Pay is implementing a payment hub at Banco de Chile, aimed at unifying the bank’s domestic, high value and international payments through one single payment engine. Implementing a payment hub with the ability to handle transactional volume peaks, prioritize payments, handle exceptions with lowest possible level of manual intervention, the generation of information for the operational and product development teams, as well as for customers. This way the bank can reduce costs in the back office through a unifications and rationalization exercise at the processing level by out phasing the various payment silos.

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EMVCo Announces New Program Members

The EMVCo Associate Program is seeing a steady increase in migration to EMV chip technology globally and has subsequently welcomed eight new members since the beginning of the year. The new members include Cubic Transportation Systems Limited, Equinox Payments, FIME, Planet Media and Nationz Technologies at Technical Associate level, with ANZ and Vantiv joining as Business Associates. Carrefour Banque has become both a Business and Technical Associate, while EFTPOS Payments Australia Limited has upgraded its participation from Business Associate to incorporate Technical Associate status as well.

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MasterCard Names New Director

MasterCard Worldwide announced that Irni Palar is to take over as Indonesia Director, responsible for all aspects of MasterCard operations in Indonesia with a focus on corporate positioning and customer advocacy. Palar joins MasterCard from PT Bank Mega as VP, Head of Sales and Marketing in the Credit Card Division, and responsible for developing strategic credit card initiatives and delivering significant growth within all aspects of Card business performance indicators. During her tenure there, Ms. Palar quadrupled the bank’s credit card base in three years, playing a critical role in improving the company’s market share, doubling sales volume and outstanding balance performance to achieve profitability. She graduated with Bachelor of Business Administration from Portland State University.

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Card APRs Skyrockets to Year Ago Average

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After having demonstrated the greatest drop since its 2011 counter-figure in months, average credit card APRs erased any positive difference in October 2012. Now sitting at the exact average measured in October 2011, the average credit card APR has been clocked once again at 15%. This after experiencing a nearly 0.50%…

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