MasterCard settles with
UK to keep time with
BPC shines in Gartner
Migrant remittances under
Lloyds TSB selects
MasterCard settles with Amex
$1.8 billion to settle a claim it had illegally blocked Amex from
the US bank-issued card business. In November 2007 Visa agreed to
pay Amex up to $2.25 billion to settle a similar claim. In exchange
for the settlements, Amex will drop its claims against MasterCard
and Visa. Amex noted the combined anti-competitive settlement is
the largest in US history.
UK to keep time with PayPass
equipped with its PayPass contactless payment technology. The
launch is in partnership with prepaid card and transaction
processing company Altair and watch manufacturer Laks. The first
PayPass equipped watches, also manufactured by Laks, were launched
by Turkish bank Garanti Bank in May 2007.
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BPC shines in Gartner ratings
Russian technology developer BPC Banking Technologies in its latest
MarketScope for Multiregional Card Management Software study
conducted in July. Pitted against 12 international vendors, BPC’s
SmartVista card transaction processing and management software was
rated ‘strong positive’, Gartner’s highest possible rating.
Migrant remittances under pressure
impact on the US to Latin America migrant remittance market,
reveals research by the Inter-American Development Bank (IADB).
According to the IADB only half of Latin American migrant workers
are remitting funds home at present, down from three quarters in
2006. Adding to the impact of the US economic slowdown are tougher
measures on employing migrants and increased federal border
Lloyds TSB selects IdenTrust
verification security company IdenTrust to provide digital identity
and digital signing services for its corporate banking customers
using the BACSTEL-IP payment network. Internet- based, the
BACSTEL-IP system enables businesses to send payment instructions
to Bacs, the UK’s direct credit and direct debit payments