StarHub Launches NFC App SmartWallet eWallet service

DBS, EZ-Link and MasterCard, StarHub unveils NFC app “SmartWallet” secure digital wallet service. StarHub, DBS and EZ-Link are part of the consortium which received IDA’s NFC Call for Collaboration award in October 2011, to develop an interoperable mobile NFC infrastructure and mobile payment services in Singapore. StarHub’s SmartWallet will allow its mobile customers to enjoy the convenience of using three contactless payment cards on an NFC enabled smartphone – DBS One.Tap, NFC ez-link purse and NFC FEVO Pre-paid MasterCard. SmartWallet will offer users a virtual DBS MasterCard PayPassTM card called One.Tap. With just one tap of the smartphone, customers can pay for goods or services quickly and securely at more than 20,000 DBS and MasterCard PayPass merchant partners in Singapore. Existing DBS cardmembers can apply for One.Tap at any time through DBS Internet or mobile banking.

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Citi to sell UK and Ireland Diners Card businesses to Affiniture

Citi is set to sell its Diners Club card issuing businesses in UK and Republic of Ireland to Affiniture Cards for undisclosed terms. The group will acquire payment card accounts in these countries ensuring continuity and seamless service to cardholders during migration. This marks continued progress in Citi’s strategy to reduce the assets and businesses within Citi Holdings, its portfolio of non-core operating businesses and assets, in an economically rational manner while working to generate long-term profitability and growth from Citicorp, its core franchise.

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Gemalto Deploys NFC Management Service

Gemalto launched its NFC services management, powered by its Allynis Trusted Services Manager (TSM) solution and hosted in Gemalto’s local TSM data center. This brings NFC to Singapore consumers lines up a consortium of local partners including mobile operators, banks and service providers. This is the first time that the mobile operators and a range of other service providers join forces to launch nation-wide NFC services to the general public using a unified, comprehensive TSM solution. With the upcoming commercial rollout, consumers will have the freedom to tap and pay using their NFC-enabled mobile devices at over 20,000 retail points such as convenience stores, fast food outlets, retailers and even a fleet of taxis.

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Planet Payment and Mashreq launch Currency service

Planet Payment multi-currency payment processor, and MashreqBank announced an agreement to provide Planet Payment’s Pay in Your Currency service to Mashreq’s portfolio of merchants in the United Arab Emirates. Pay in Your Currency can offer significant value-added benefits to Mashreq’s merchants and their customers. Customers are offered the convenience of paying in their home currency at the point-of-sale. The customers are handed a receipt, or pointed to an electronic terminal, which show the transaction amounts in the UAE Dirham and their home currency, together with the exchange rate and other service details.

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TNS 2Q/12 Revenue Ebbs Slightly

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TNS data communications services posted 2Q/12 total revenue down 3.3% to $136.9 million from the year ago figure of $141.6 million while GAAP net income was $2.3 million, compared to GAAP net income of $1.1 million in 2Q/11. With this, Revenue from the Telecommunication Services Division decreased $0.8 million by 1.0%…

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Discover Validates First Data NFC Program

First Data electronic commerce and payment processing achieved Discover qualification of the First Data Trusted Service Management (TSM) solution for its readiness in supporting commercial launches of mobile contactless payment programs. With this, First Data can support financial institutions in the deployment of NFC services on mobile devices. First Data built its TSM solution as a managed service model that allows account issuers such as financial institutions to integrate once with a single interface for access to major NFC-enabled mobile wallets.

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BridgePortfolio Extends Contract with Fiserv

BridgePortfolio has signed a five-year contract extension for implementation of the Fiserv suite of Portfolio Management and Trading solutions (formerly known as APLSM). Selected for its leadership and tenure in the industry and the ease of use and scale of its platform, Fiserv technology supports all functions of the wealth management business, from planning, trading, post-trade processing and investor reporting, to fee billing and revenue management. BridgePortfolio is a Back Office Outsource Provider that uses its robust technology solutions for more than 50 advisory firm partners.

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Visa to Answer for Swipe Fees to the European Union

Visa Europe is in some hot water today with the European Union for restricting competition and raising prices for consumers with “swipe” fees. This after the European Union has been fighting Visa and MasterCard for ‘exorbitant’ swipe fees the associations charge merchants. Having brought antitrust charges against Visa Europe in April 2009, less than a week after suing MasterCard, the European Union is now anticipating fee reductions for European consumers, which- by the way- are less than one-third of the fees in the United States.

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MasterCard Net Revenue Up 9% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MasterCard posted its 2Q/12 net income of $713 million, up 17% from the year ago period, and a net revenue of $1.8 billion, up 9% from 2Q/11. Meanwhile, the card issuer reported a 15% increase in gross dollar volume to $890 billion; a 29% increase in processed transactions to 8.5 billion;…

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First Data Revenue Down 2% From 2Q/11, Up on 1Q/12

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data posted its 2Q/12 consolidated revenue down $64 million by 2% to $2.7 billion, compared to a year ago on a $92 million decline in debit network fees partially offset by an increase in merchant acquiring revenue. Revenue is however, up slightly from the first quarter of the year, when…

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MoneyGram in Search of ‘Ultimate Cricket Fan’

Cricket fansnow have the chance to prove their intense love for the sport and compete to win an all-expense-paid trip to this year’s ICC World Twenty20 (T20) in Sri Lanka. That’s because MoneyGram is conducting a search for the “Ultimate Cricket Fan” to serve as ambassador, reporter and blogger during the matches in September and October. The contest is open to cricket fans in Bangladesh, Canada, India, Pakistan, Saudi Arabia, Sri Lanka, United States, United Kingdom, and UAE. To continue the ongoing commitment of bringing the MoneyGram community closer, MoneyGram will select two lucky and committed fans to travel to Sri Lanka as part of the “Ultimate Cricket Fan” contest. The winner will receive an all-expense-paid trip to Sri Lanka for the T20 games, as well as tickets to all events, a laptop, tablet notebook, digital camera, t-shirts and other memorabilia, and a stipend of $100 per day.

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