Thursday, June 30, 2011

Mobile Money Industry Looks Ahead to a Crucial Year

4 hours ago
Representatives from the banks, operators and payments networks closed this year’s Mobile Money Summit, agreeing that the next 12 months could be a crucial period for the evolving mobile payments market. “Over the next 12 months we will see a significant amount of momentum, but we’ll also need to agree on a set of standards and a single standard eco-system,” said MasterCard’s Rajen Prabhu. This was a theme also taken up by the RBS’ Ron Karpovich – representing the banks – who warned that the industry should guard against a fragmented approach. “It’s like we’re all building ATM machines with different functionality,” he said. “Business cases will all work better if they can interact with each other.”
With regards to NFC, the panellists agreed that there is likely to be different implementations of the technology depending on the market. Karpovich also predicted that some “very large consumer merchants” could start accepting NFC payments over the next 12 months.
Representing the operators, KDDI’s Yasuyuki Koide said he was “concerned that so many things are on the table right now; are we confusing customers?”
The issue of trust was also identified as something that needs to be addressed. “What been working so far has been transactions between two people that know each other,” said MasterCard’s Prabhu. “That works because there is trust. But that exact same pipe is not working for other payments. We need a universal payment marque and a security marque.”

China UnionPay and MasterCard Sign Payment Gateway Service Agreement MasterCard Worldwide
SINGAPORE--(BUSINESS WIRE)--Second graph, second sentence of release should read: The areas of cooperation included within the scope of the Addendum and Payment Gateway Service Agreement are related to cross-border transactions and not domestic transactions (sted The areas of cooperation included within the scope of the Addendum and Payment Gateway Service Agreement are related to cross-border transactions and not domestic transaction).
The corrected release reads:
China UnionPay (UnionPay) and MasterCard Worldwide recently signed a Payment Gateway Service Agreement that will enable MasterCard’s e-commerce platform to accept UnionPay Cards. Under the agreement, both UnionPay and MasterCard will cooperate to configure their respective systems to equip the MasterCard Payment Gateway with the ability to process transactions made using UnionPay Cards for e-commerce merchants outside of mainland China. Present at the signing ceremony were Su Ning, Chairman, China UnionPay; and Xu Luode, President and Chief Executive Officer; Ajay Banga, President and Chief Executive Officer, MasterCard Worldwide; and Vicky Bindra, President, Asia/Pacific, Middle East & Africa, MasterCard Worldwide.
Additionally, UnionPay and MasterCard announced that both parties have signed an Addendum to extend the term of their existing Memorandum of Understanding (MOU). The areas of cooperation included within the scope of the Addendum and Payment Gateway Service Agreement are related to cross-border transactions and not domestic transactions. The aim of the MOU is for the establishment of a mutually beneficial relationship to explore future business development. Among other areas, UnionPay and MasterCard will work together towards exploring mutually beneficial solutions to innovative payment businesses.
The Addendum and Payment Gateway Service Agreement reinforces UnionPay and MasterCard’s cooperation to provide more efficient and value-added services for cardholders.
About China UnionPay
As the bankcard association in China, China UnionPay operates the national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay Card as well as other innovative payment solutions, so as to provide quality, efficient and safe payment services to cardholders. To date, the total number of the UnionPay Card issued both at home and aboard has exceeded 2.5 billion. The UnionPay network has been extended to all the cities and rural areas in China. In addition, China UnionPay has enabled the UnionPay Card acceptance over 110 countries and regions through extensive cooperation with about 400 financial institutions around the world. Additional information may be found
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at Follow us on Twitter: @mastercardnews.


China UnionPay Branding and Marketing Department, +86-21-5036 2000
MasterCard Worldwide
Georgette Tan, +65 6390 5971
MasterCard Worldwide
Jennifer Stalzer, 914 249 5325
Weber Shandwick
FangTing Zheng, +65 6825 8031

First Data Comments on Federal Reserve Board’s Final Debit Rules

http://www.firstdata.comATLANTA--(EON: Enhanced Online News)--First Data is now reviewing and analyzing the final rules published today by the Federal Reserve Board regarding debit card interchange, network exclusivity and routing under Section 1075 (“Durbin Amendment”) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“Our company has always advocated for increased competition in the payments marketplace”
“Our company has always advocated for increased competition in the payments marketplace,” said Ed Labry, president, First Data North America. “As a leading acquirer in the payments industry, over the last year we have invested in new programs and technology on behalf of our financial institutions and merchant customers in the United States to comply with the changes resulting from the new regulations. These include reinvesting in the STAR Network; routing programs to negotiate effectively with other payment networks; and near-field communications (NFC) technology for use at the point-of-sale for the future of payments acceptance.”
First Data is in a unique position to bring innovative solutions to the payments market because we serve both merchants and card issuers as well as operate the STAR Network, one of the nation’s leading PIN debit networks. No other company in the payments industry has the kind of scale and breadth of solutions that First Data offers.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.


First Data
Nancy Etheredge, 402-222-6214

Western Union Launches the "Money Transfer Receive Card"

Western Union Launches a New Way to Receive Money Transfers Sent from around the Globe

Money Transfer Receive Card Provides Multiple Benefits to Consumers
ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE:WU), a leader in global payments, announced today a convenient new way to receive Western Union Money Transfer® transactions with the launch of the Western Union Money Transfer Receive Card.“This new Receive Card delivers what consumers need and want: convenient, fast and reliable money-management solutions”
The innovative new card gives consumers a simple way to receive money transfers. All they have to do is pick up a card at a select Western Union® Agent location in the U.S. and complete the transaction to receive a money transfer online or over the phone. The process is seamless and can be completed quickly, with no forms to fill out.
“This new Receive Card delivers what consumers need and want: convenient, fast and reliable money-management solutions,” said David Yates, President, Business Development and Innovation, Western Union. “And for our Agents, it offers an efficient means for handling transactions with minimal effort and expense while driving foot traffic and revenue.”
Western Union will begin offering the cards at select Western Union Agent locations this summer.
Once activated, the Money Transfer Receive Card can be used anywhere Debit MasterCard® is accepted worldwide, including online as well as at ATMs for cash withdrawals. Funds on the card are protected by the MasterCard zero-liability policy, an added convenience for consumers who may not wish to carry cash.
The Money Transfer Receive Card can be upgraded to allow the cardholder to add funds to the card and receive additional money transfers on the card in the future.
The card is now available in the U.S. for money transfers sent from anywhere in the world, including from within the United States. The card can be found at participating Western Union Agent locations, including those offering the Money Transfer By Phone and Western Union goCASHSM services.
When coupled with the innovative Western Union goCASH service, the Money Transfer Receive Card offers retailers who cannot support Western Union’s traditional full-service options new access to Western Union’s network. The goCASH service allows people to purchase a card at checkout at select retailers nationwide and complete a money-transfer transaction later via phone or online.
The Western Union Money Transfer Receive Card
Benefits to Consumers:
  • Simple and convenient way to receive money
  • No forms to complete
  • Cards are accepted anywhere Debit MasterCard® is accepted worldwide including online as well as withdrawing cash at ATMs
  • Card can be upgraded by the consumer to become reloadable
  • Ability to manage the card account both online and over the phone
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of 455,000 Agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit
  • ATM withdrawals limited to $500/day. The combination of ATM transaction fees and currency denominations available at a particular ATM may prevent you from accessing the Card’s entire principal balance in cash.
  • The MasterCard Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by MasterCard, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit /security. Refer to Cardholder Agreement for fees on card use, replacement and card account closure.
  • Common card fees include: $1.95 ATM Withdrawal Fee (plus applicable ATM operator fees), $0.45 ATM Inquiry/Decline Fee, $2.50 monthly Inactivity Fee after 12 months of non-use and a $4.95 Reload Fee. Additional fees could include Re-issue card fee of $5, Bank to card transfer fee of $1, paper statement fee of $3, and currency conversion gains and fees. See Cardholder Agreement for a complete description of fees.


Western Union
Kristin Kelly, 720-332-4751
Mike Salop, 720-332-8276

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