Merchants Welcome DOJ Visa Investigation

The U.S. Department of Justice is investigating Visa for violating antitrust law by continuing to stifle competition in the nations credit- and debit-card markets. This after Congress passed legislation to improve the competitiveness among debit networks through the Durbin Amendment to the Dodd-Frank financial reform law. This is welcome news to the Merchants Payments Coalition, as the DOJ antitrust investigators are looking at how Visa runs the part of its debit-card business that routes transactions to banks and a new fee the giant card company is charging. Under Durbin, banks now have to allow more than one company to carry debit card transactions and merchants are supposed to be able to make that choice so that there is competition to keep network fees down.

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FIS Expands Payment Solution Offerings

FIS banking and payments technology, announced that Calhoun County Bank and AccessBank Texas have signed multi-year agreements for FIS’ core banking platforms. AccessBank Texas was founded in 2007 and has $107 million in assets and deploying FIS’ core account processing platform will provide the bank with industry leading functionality and back-office automation, enabling the automation of numerous manual processes. Calhoun County Bank has been serving the people and businesses of Calhoun County, West Virginia and has assets exceeding $116 million. The FIS solution replaces its existing core processing solution with one that provided effective integration for optimizing key processes.

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MobiCore Protects Samsung NFC Phone

The NFC-capable smartphone from Samsung has deployed the MobiCore protected area on its application processor in which security-sensitive applications can be securely run and downloaded dynamically. The MobiCore platform will provide a secure execution environment for mobile payments authentication, emails or corporate VPN access. The first application installed in the Mobicore-protected area on the Samsung GALAXY S III is a digital rights management (DRM) application which provides digital content with effective protection against misuse. G&D’s Trusted Service Management (TSM) solution will also enable organizations such as network operators and banks to install and customize additional security-critical apps in the protected area of the smartphone.

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EVERTEC Amends Consent Solicitation for Senior Notes Due 2018

EVERTEC announced the Issuers are amending the terms of their previously announced consent solicitation (the “Consent Solicitation”) with respect to the $210.5 million aggregate principal amount of the Issuers’ 11% Senior Notes due 2018 outstanding as of the record date of April 27, 2012 (the “Existing Notes”), seeking the consent (“Consents”) of at least a majority of the aggregate principal amount of all outstanding Existing Notes (the “Requisite Consents”) to amend the limitation on restricted payments covenant in the indenture governing the Existing Notes (the “Indenture”) to provide the Issuers with additional dividend capacity of up to $270.0 million (the “Proposed Amendment”), subject to the terms and conditions described in the consent solicitation statement, dated as of April 30, 2012 (the “Consent Solicitation Statement”) and the accompanying consent letter. The Consent Solicitation will expire at 5:00 p.m., New York City time, on May 4, 2012, unless extended or terminated (the “Expiration Date”). The Issuers reserve the right to terminate or extend the Consent Solicitation in their sole discretion.

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Wolfe Achieves PCI Level 1 Service Provider Compliance

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wolfe, LLC, parent company of the world’s largest on-demand provider of gift cards and prepaid cards, GiftCards.com, announced this week that it has been validated as compliant with the Payment Card Industry Data Security Standard (PCI DSS) as a Level 1 service provider and merchant. The PCI DSS is a set…

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IJJ Corporation On-line Shopping Cart Now Using BofA Merchant Processing

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] IJJ Corporation sent the following announcement: the On-line Shopping Cart is using Bank of America for its Merchant Processing Services. Bank of America Merchant Services enables payment solutions where and how our customers want to pay: credit cards, debit cards, electronic checks, gift cards, and other payment options. Becoming a Bank…

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Jack Henry & Associates Announces Regular Quarterly Dividend

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Jack Henry & Associates announced its Board of Directors declared a regular quarterly cash dividend of $.115 per share. The cash dividend on its common stock, par value $.01 per share, is payable on May 31, 2012, to stockholders of record as of May 21, 2012. At May 3, 2012, there…

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Sage Pay launches m-payments system for small businesses

Sage Pay payment processor launched its “Sage Pay Mobile” mobile payment solution aimed at small businesses. This lets businesses accept card payments using their mobile phone to authorise transactions. The “Sage Pay Mobile” solution is a highly-secure, handheld terminal connects to a merchant’s smartphone via Bluetooth, and encrypts the data from a customer’s card at source, so the merchant and their phone never see the card details. It is PCI DSS approved and integrates with the Sage 50 Accounts Mobile service to help retailers effectively manage their entire business flow, end to end and on the move.

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Tibco Provides Software to mPayment Program

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] TIBCO Software announced that PT XL AxiataTbk (XL), Indonesia’s second largest mobile carrier, has chosen TIBCO software to power its new mobile payment solution, expanding its revenue opportunities and bridging economic barriers for the country’s unbanked population. Indonesia ranks among the world’s top users of mobile phones, and it is not…

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Fiserv Adjusted Revenue Up 5% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Fiserv technology solutions posted 1Q/12 revenue of $1.11 billion compared with the year ago figure of $1.05 billion while adjusted revenue was $1.03 billion, up 5% from the year ago figure of $982 million. Meanwhile, adjusted internal revenue growth in the quarter was 4% for the total company, including 3% in…

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Jack Henry Sees Strong Return on 1Q/12

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Jack Henry & Associates technology solutions and payment processing services saw its fiscal 3Q/12 (1Q/12) results with a 7% increase in revenue, an increase of 8% in gross profit and a 11% increase in net income over the third quarter of fiscal 2011. For the quarter, revenue was up 6%, with…

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American Express Appoints New Senior Execs

American Express Company announced Katrina Lane and David Yoo have joined the U.S. Consumer Services leadership team. Katrina Lane will lead the company’s Consumer Cards and Experiences team as Executive Vice President, managing the consumer cards products and services portfolio. As Senior Vice President, David Yoo will lead the Commerce Innovation team where he will pioneer new applications and experiences that help American Express Cardmembers shop smarter. Mr. Yoo joins American Express from Boku global mobile payments network as Senior Vice President of Strategy, Product and Marketing. Yoo was also a Principal Product Manager at PayPal, where he led the $30 billion marketplace payments group and successfully launched eBay express and digital goods payment.

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