All articles by Verdict Staff
Verdict Staff
Wells Fargo converts ATM network to Envelope-Free.
From now on, customers who use the 12,000 machines across the US will no longer need to write on an envelope or key-in a deposit amount Once cash andor cheques are inserted, the machine converts the paper cheques into digital images which appear on the ATM screen and on the receipt
Prepaid Solutions in name change
The prepaid card programme manager and provider said the change reflects the companys strategic direction to be the industry source for smart, innovative prepaid solutions as it continues to expand internationally
Loyalty rewards use on the rise in Canada
Vice president for customer communications and marketing at BMO Bank of Montreal, Su McVey, said, The intention to use rewards as an alternative to cash or credit to purchase holiday gifts increased by 6% to 20% this year from 14% in 2010.
Barclaycard converts UK corporate cards portfolio into contactless cards
From now on, all Barclaycard Global Commercial Payments issued corporate Barclaycards will feature the contactless technology, which Barclaycard said will give businesses of all sizes greater control to track smaller transactions – currently made using cash
Western Union offer prepaid card in UK
The global payment services company is to launch both the Western Union MasterCard Gift Card and the Western Union GoCash Service, aiming to provide consumers with convenient ways to share money anytime of the year
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MasterCard, mFoundry offer banks and credit unions more mobile payment options
MasterCard and mobile banking solutions firm mFoundry are collaborating to offer banks and credit unions more mobile payment options Mastercard has finalised its investment in mFoundry, on 1 December 2011 and is now targeting credit unions in the US to grow its mobile contactless payments distribution network The initiative will combine MasterCards Tap & Go PayPass technology with mFoundrys mobile financial services platform to make mobile contactless payments available to more consumers
Germany passes AML laws – restricts prepaid businesses
The implementation of the laws follows a condemning report by the Financial Action Task Force (FATF) in February 2010, which had found the then-prevalent AML legislation in Germany somewhat lacking in efficiency. In an official document published on 1 December, the German Bundestag argued it had carefully analysed the deficits in the local AML law found by FATF and that a brisk elimination of these was necessary in order to protect Germanys economy from money laundering and the financing of terrorism.
First Data Merchant Solutions to run payment services for Volusion
First Datas merchant acquiring business arm has partnered with Volusion to provide additional options for payment processing to its customers As online sales in the UK continue to rise, First data Merchant Solutions foresees an opportunity to expand its business in Europe in the latter half of 2012.
Italy: Vodafone, CartaSi and MasterCard in contactless payments deal
Vodafone and CartaSi will release a prepaid contactless payment card, called Vodafone Smart Pass, in Italy this month. The Vodafone Smart Pass will both enable payments on smartphones and via cards and will be rolled out in December at about all 900 Vodafone shops, as well as at McDonalds, supermarket chain Esselunga, Decathlon, book shop La Feltrinelli and Autogrill. It will be a debit card that will be issued by the Italian Peoples bank Institute and MasterCard in co-operation with Vodafone and CartaSi.
Recurly launches payment gateway for subscription billing
Recurly, a pay-as-you-go subscription billing service provider, has launched a payment gateway designed to handle the requirements of recurring billing The Recurly Payment Gateway will enable companies that provide subscription-based payment services to benefit from subscriber renewal and management capabilities as well as credit card error optimisation