All articles by Verdict Staff
Verdict Staff
Out of Omaha
First National Bank of Omaha is one of the largest privately-held credit card issuers in the US. Charles Davis looks at why the bank is shedding its relatively low profile for a much more aggressive play aimed at co-branding its way to a national footprint.
Amex launches corporate online portal
Amex has teamed up with Germany-based business software provider SAP to develop a new electronic payments gateway for the firms corporate customers. Charles Davis looks at the system and how it intends to streamline companies corporate expense processes.
Better to be sure
As online banking and e-commerce continue to rocket in popularity, online card security is becoming a pressing problem for both issuers and networks. Louise Naughton speaks to Visa about its latest solution the CodeSure card.
Changing the game?
Contactless cards, prepaid, e-money and mobile payments all address much the same problem. They are aimed at moving low-value payments from cash into an electronic format. Will Cain looks at Cardis, one business trying to change the way micropayments are processed.
Visa and MasterCard accused of ‘anti-competitive’ practices
Visa and MasterCard impose restrictive and anti-competitive rules on merchants that hurt businesses and consumers, according to Canadas Competition Bureau.The Commissioner of Competition has filed a complaint with the Competition Tribunal alleging these rules have effectively eliminated competition between Visa and MasterCard for merchants acceptance of their credit cards, resulting in increased costs to businesses and ultimately consumers.
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MasterCard acquires Travelex prepaid programme
Travelex has sold its prepaid card programme management (CPM) to MasterCard for £290 million ($458 million) to accelerate investment in Asian and Latin American regions.Under the terms of the transaction, which is expected to close in the second half of 2011, MasterCard has agreed to provide programme management services for the Travelex Cash Passport prepaid card, which is sold throughout Travelexs stores and online channels.
MasterCard develops payment solution for Aadaar
MasterCard has announced the development of a bespoke payment solution for Aadaar holders in India with biometric authentication.The Aadaar government initiative provides Indian residents with a 12-digit Unique Identification Number (UID), which is captured on a Multipurpose National Identity Card (MNIC). The project aims to collate residents basic demographic and biometric information thus enabling them to gain acceptance to Indias formal banking system.
Westminster City Council issues Citi’s prepaid cards
Londons Westminster City Council will begin issuing Citis prepaid cards to its residents to receive benefits and allowances ranging from university maintenance to travel and subsistence payments.Under the pilot scheme the London borough residents will be able to use the prepaid cards at ATMs and for over-the-counter purchases.
Absa Bank deploys FICO’s fraud manager
South Africas Absa Bank will adopt analytics technology provider FICOs Falcon Fraud Manager 6 solution in a bid to control fraud in its debit and credit card portfolios.Due for implementation during 2011, the Falcon Fraud Manager solution is set to support Absa Bank in its goals to improve fraud prevention, detection, investigation, recovery and remediation.
Citi’s Credicard gets back into the acquiring market
Citis credit card issuing arm, Credicard and US Bancorps payment processing arm, Elavon have joined forces in a bid to capitalise on the growth seen in the Brazilian payments market.