Euronet Obtains Access to New Markets and Cost Savings Opportunities by Attaining Payment Acquirer Status

November 23, 2011 02:03 PM Eastern Time 

LEAWOOD, Kan.--(BUSINESS WIRE)--Euronet Worldwide, Inc. (NASDAQ: EEFT), through its wholly owned subsidiary - Euronet Payments & Card Services Ltd. (EPCS), has been authorized by the Financial Service Authority (FSA) in the United Kingdom (UK) to provide payment services. This authorization covers a broad range of services, including ATM and POS transaction acquiring. This authorization allows Euronet to apply for direct membership with the major card schemes. Upon receipt of this authorization, Euronet applied for and received membership with the two major card schemes, Visa and MasterCard, for ATM transaction acquiring. The combination of the authorization by the FSA and membership with the major card schemes allows Euronet to directly process ATM debit and credit card transactions throughout most of Europe, without the requirement of a sponsor bank. Subject to business opportunities, Euronet intends to apply for direct membership with the major card schemes for POS merchant acquiring.

“Moreover, this license enables us to expedite time-to-market entry, increases our flexibility in product development and creates the opportunity to expand cross-selling synergies between our different segments”

EPCS is authorized to issue e-money products and provide payment services in the European Economic Area, which includes European Union member countries plus Iceland, Lichtenstein and Norway. With the target to make cross-border payments easy, efficient and secure, the European payment services regulations seek to improve competition by opening payment markets to new entrants, thus fostering greater efficiency and cost-reduction. This authorization to provide payment services will allow Euronet to provide acquiring services in 29 European countries, including Austria; Belgium; Bulgaria; Cyprus; Czech Republic; Denmark; Estonia; Finland; France; Germany; Greece; Hungary; Iceland; Ireland; Italy; Latvia; Liechtenstein; Lithuania; Luxembourg; Malta; Netherlands; Norway; Poland; Portugal; Romania; Slovak Republic; Slovenia; Spain; Sweden; UK.

Since gaining membership with the major card schemes, Euronet has initiated certification projects in five European countries, which will make Euronet one of the few non-financial institutions with the ability to directly acquire transactions on independently deployed ATMs. In the future, EPCS will extend the membership with the major card schemes to other European Union countries and build direct connections with other large card schemes.

“The significance of this development is monumental as it reflects a paradigm shift in our business. Previously, anytime we deployed ATMs in new markets we had to engage in lengthy negotiations to secure a sponsor bank. Now, with an acquiring license and direct card scheme membership, an acquiring sponsor bank is no longer required, allowing Euronet to directly acquire transactions on our independently deployed ATM networks and settle directly with the card schemes,” stated Nikos Fountas, Senior Vice President and Managing Director of Euronet’s Europe EFT Division. “Moreover, this license enables us to expedite time-to-market entry, increases our flexibility in product development and creates the opportunity to expand cross-selling synergies between our different segments,” added Mr. Fountas.

Under the newly granted license, Euronet, a leading European payment processing and services provider and the largest Independent ATM Deployer (IAD) in Central and Eastern Europe, is able to expand its presence through the offering of ATM and POS merchant acquiring throughout Europe. This will allow Euronet to operate in new and existing European markets without further constraints from additional licensing or sponsor bank requirements.

About Euronet Worldwide, Inc.

Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM (Automated Teller Machines), POS (Point of Sale) and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products.

Euronet's global payment network is extensive - including 12,668 ATMs, approximately 53,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 32 countries; card software solutions; a prepaid processing network of approximately 591,000 POS terminals at approximately 282,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 140,000 locations serving 136 countries. With corporate headquarters in Leawood, Kansas, USA, and 47 worldwide offices, Euronet serves clients in approximately 150 countries. For more information, please visit the Company's website atwww.euronetworldwide.com.

Halls' Out-of-home Campaign Uses NFC Technology

by Karlene Lukovitz, over 1 hour ago

A product-launch campaign for the Halls cough drops brand is the first out-of-home effort to employ near field communications (NFC), according to Kraft Foods.  The campaign, from Halls’s shopper-media planning and buying agency, Horizon Media, is using both NFC technology from Thinaire and QR codes, on posters located at 33 Chicago bus shelters.  The concept: The posters promote Halls’s new Warm-Ups product – which combines the brand’s mentholated cooling properties with a warming sensation – and encourage consumers to use their cell phones, via the NFC function or QR code on the posters, to connect with and like the brand’s Facebook page, then vote for one of the two Warm-Up flavors: Apple Cider or Mocha Mint.  continue reading

Thailand Mobile Payment Market Forecast 2009 - 2015: Gross Transaction Value of Mobile Payments in Thailand to Rise to $6.9 Billion in 2015

Image by FriskoDude via Flickr

November 23, 2011 05:03 AM Eastern Time 

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of IE Market Research Corp.'s new report "3Q.2011 Thailand Mobile Payment Market Forecast 2009 - 2015: Gross transaction value of mobile payments in Thailand to rise to $6.9 billion in 2015" to their offering.

“3Q.2011 Thailand Mobile Payment Market Forecast 2009 - 2015: Gross transaction value of mobile payments in Thailand to rise to $6.9 billion in 2015”

Thailand Mobile Payment Market Forecast provides a comprehensive forecast of Thailand's mobile payment market. We cover annual forecasts of mobile payment users; mobile payment transactions by technology (such as NFC, SMS, WAP, USSD); and mobile payment transactions by type of purchase (such as merchandise, digital products, ticketing, mobile money transfers, bill payments, and pre-paid top-ups).

The report is based on Global Consumer Telecommunications Survey-- which covers 50,000 mobile users in 50 markets globally and is the most extensive country-specific forecasts of its kind.

Together with this comprehensive forecast, you will get a PowerPoint presentation and an audio conference with Menekse Gencer, Independent Contributing Analyst at IEMR, Principal at mPay Connect, and formerly Director of Business Development, Mobile Payments at PayPal. The presentation and the audio conference provides you with an overview of key trends in the global mobile payment market and an overview of exciting developments in the m-payments market globally.

This report will be useful to:

• Strategists and analysts at mobile phone operators and banks/credit card companies responsible for mobile payment strategy development and business analytics
• Developers of mobile payment systems at handset manufacturers
• Device manufacturers in all areas of the telecommunications market that need strategy recommendations on key trends in the global mobile payment industry
• Financial analysts and portfolio managers covering firms in the mobile payment market
• Consultants advising their clients on mobile payment markets
• Researchers who need to gain a better understanding of the global mobile payment market

For more information visit http://www.researchandmarkets.com/research/712c97/3q_2011_thailand_m

South Korea Mobile Payment Market Forecast 2009 - 2015: Gross Transaction Value of Mobile Payments in South Korea to Rise to $39.3 Billion in 2015

Image via Wikipedia

November 23, 2011 04:54 AM Eastern Time 

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of IE Market Research Corp.'s new report "3Q.2011 South Korea Mobile Payment Market Forecast 2009 - 2015: Gross transaction value of mobile payments in South Korea to rise to $39.3 billion in 2015" to their offering.

“3Q.2011 South Korea Mobile Payment Market Forecast 2009 - 2015: Gross transaction value of mobile payments in South Korea to rise to $39.3 billion in 2015”

South Korea Mobile Payment Market Forecast provides a comprehensive forecast of South Korea's mobile payment market. The report is based on Global Consumer Telecommunications Survey-- which covers 50,000 mobile users in 50 markets globally and is the most extensive country-specific forecasts of its kind.

Together with this comprehensive forecast, you will get a PowerPoint presentation and an audio conference with Menekse Gencer, Independent Contributing Analyst at IEMR, Principal at mPay Connect, and formerly Director of Business Development, Mobile Payments at PayPal. The presentation and the audio conference provides you with an overview of key trends in the global mobile payment market and an overview of exciting developments in the m-payments market globally.

Key Topics Covered:

Series Covered in this Country Forecast, 2009 - 2015

Mobile Payment Users (millions)

Mobile Payment Transactions by Technology (millions)

• SMS
• WAP/Web
• USSD
• NFC

Mobile Payment Transactions by User Case (millions)

• Merchandise purchases
• Digital purchases
• Ticketing
• Money transfers
• Bill payment
• Prepaid top-ups
• Others

Gross Transaction Value for Mobile Payments by User Case ($ millions)

• Merchandise purchases
• Digital purchases
• Ticketing
• Money transfers
• Bill payment
• Prepaid top-ups
• Others

Average Transaction Size of Mobile Payments by User Case ($)

• Merchandise purchases
• Digital purchases
• Ticketing
• Money transfers
• Bill payment
• Prepaid top-ups
• Others

Who Will Benefit From This Report:

• Strategists and analysts at mobile phone operators and banks/credit card companies responsible for mobile payment strategy development and business analytics
• Developers of mobile payment systems at handset manufacturers
• Device manufacturers in all areas of the telecommunications market that need strategy recommendations on key trends in the global mobile payment industry
• Financial analysts and portfolio managers covering firms in the mobile payment market
• Consultants advising their clients on mobile payment markets
• Researchers who need to gain a better understanding of the global mobile payment market

For more information visit http://www.researchandmarkets.com/research/a25c9d/3q_2011_south_kore

Clear2Pay gains scale in payments and cards expertise with ISTS Worldwide acquisition (US)

November 22, 2011 03:00 AM Eastern Time 

Indian/US player offers cards domain and onsite/offshore project delivery skills

BRUSSELS & FREMONT, Calif.--(BUSINESS WIRE)--Clear2Pay, the international technology provider of next generation payment solutions for financial institutions announces that it has acquired ISTS Worldwide a US based services organisation, specialised in retail payments technology.

ISTS Worldwide is based in Fremont, California. The company further has a large CMMI Level 3 certified development and project delivery centre in India and an office in France. Its core solutions are focused on the card transaction space and test automation. It serves payment processors such as Blackhawk Network (a subsidiary of Safeway), ATX (a subsidiary of Euronet), Paypal, Commidea, Loyalty One and more. ISTS also works in the payment value chain with clients in retail (Sears and Levis), eCommerce (Intuit Symantec and Marketlive), POS (Verifone, Sequoia Retail Systems, Gilbarco) and Software vendors such as Microsoft and Trustwave.

Michel Akkermans, Chairman and CEO of Clear2Pay states: “In working with large financial institutions we recognise the renewed interest in payments as the prime customer touch point. This leads to a huge demand in payments specific technology and skills in product development and project management. With ISTS we can both offer a pool of card and payments expertise in the US and India, as well as the experience of onsite/off shore project management and delivery. This onsite/offshore delivery model will be leveraged inside the Clear2Pay group and will enable us to support our customers in bringing robust future proof technology, and thus their payment products, to market in a much shorter time frame”.

Viren Rana, CEO of ISTS Worldwide comments: We are excited to be part of Clear2Pay, a global leader in the payments industry with cutting edge solutions. This creates great opportunities for both our employees and customers in merging our offerings with Clear2Pay’s innovative solutions.”

Jürgen Ingels, Co-founder and CFO of Clear2Pay concludes: “This acquisition delivers us a lot of additional card knowledge and builds on our capacity in that field with more than 300 domain and technology professionals, which in turn will strengthen our Open Card Switch offering. Moreover, it gives us an important foot print in the Indian market which will allow us to sell our products in that region. Last but not least it adds customers in the US, whom we will continue to serve with the same dedication as to which they have been accustomed to date.”

About Clear2Pay

Clear2Pay is a payments modernisation company that actively supports many global financial institutions to meet their payments unification goals through its pure SOA Open Payment Framework (OPF). Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services, whether they be Card, ACH, Branch, Bulk, High Care or International payment transactions. Clear2Pay's innovative technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. In addition the company offers a range of value added payment technology solutions and services such as e-Banking, the Open Test Platform, ChargeBack, Strategic Consultancy and Payments Training through a dedicated Academy. Clients include global and major regional financial institutions such as ING, Banco Santander, Crédit Agricole, MasterCard, BNP Paribas, The Federal Reserve, NETS (Denmark), The People Bank of China (PBOC), Bank of East Asia, Rabobank, The Co-operative Financial Services and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, Malaysia and Singapore and currently employs of nearly 800 staff. Recently, the company was awarded the XCelent Customer Base 2010 award for its undisputed largest payment hub customer base, both live and under implementation. The company ranks 81^st in the Global FinTech100 list. For more information, please visit www.clear2pay.com.

About ISTS

About ISTS Worldwide, Inc. (www.istsinc.com): ISTS provides end to end domain driven technology services and solutions in the form of architecture services, custom application development, integration, testing, support and global execution for the retail-payments industry. ISTS enables its customers to address the challenges thrown about by the confluence of multi-channel retail integration initiatives and the need to accept traditional and alternative payments. More information on www.istsinc.com

NRF and Other Groups File Lawsuit: Fed Didn’t Follow Law in Setting Swipe Fee Regulations

November 22, 2011 01:00 PM Eastern Time 

WASHINGTON--(BUSINESS WIRE)--The National Retail Federation, the Food Marketing Institute, the National Association of Convenience Stores and two retailers filed a lawsuit in federal court today saying the Federal Reserve failed to follow key requirements of a 2010 law when it adopted a flawed cap on debit card swipe fees that took effect this fall. NRF and the other groups say the failure has allowed big banks to continue charging unjustifiably high swipe fees and has discouraged price competition among credit card networks.

“The Fed’s regulations have blunted the competition that would have made greater savings possible.”

“The Federal Reserve was required by law to come up with swipe fees that were ‘reasonable’ and ‘proportional’ but what we got were neither,” NRF Senior Vice President and CEO General Counsel Mallory Duncan said. “Instead, the Fed allowed themselves to be influenced by the very banks they are supposed to regulate and raised the originally proposed cap to include expenses the law said were not allowed. In doing so, they literally gave away half the savings that could have been seen by merchants and their customers. We want them to go back and follow the law this time.”

“Rather than following the law, it’s almost as if the banks and the Fed were working hand-in-glove to block the genuine competition and common-sense price reductions Congress directed,” Duncan said. “The Fed’s regulations have blunted the competition that would have made greater savings possible.”

The regulations, which took effect October 1, have also led to an increase in swipe fees for some small-ticket purchases, the lawsuit says. The suit was brought by NRF on behalf of both NRF and its National Council of Chain Restaurants division, which filed comments with the Fed earlier this year warning of the potential impact on small purchases. In addition to FMI and NACS, other plaintiffs include NRF member Boscov’s Department Store, based in Reading, Pa., and NACS member Miller Oil Co., a convenience store/gas station chain based in Norfolk, Va.

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 required the Federal Reserve to set guidelines that would result in debit card swipe fees that are “reasonable” and “proportional” to banks’ costs in processing debit card transactions. Financial institutions with less than $10 billion in assets were exempt.

The Fed said in December 2010 that it had determined that it costs banks an average 4 cents to process a debit transaction, and proposed that the fees be capped at no more than 12 cents per transaction – triple banks’ actual cost. After intense lobbying by banks and the card industry, however, final regulations adopted in July 2011 set the cap at more than five times the actual cost – 21 cents plus 0.05 percent of the transaction and, in most cases, an additional 1 cent for fraud prevention.

While the Dodd-Frank law said the Fed could consider the incremental costs of acquiring, clearing and settling each transaction and specifically prohibited any other expenses from being used to inflate those costs, the lawsuit alleges that the Fed – under pressure from the banks and card industry – included costs that were barred by the law. Doing so has deprived merchants and their customers of the full extent of the swipe fee relief to which they were entitled.

The approximate 21-cent cap would lower swipe fees for most purchases, which averaged 44 cents but could range as high as several dollars under the previous formula of 1-2 percent of the transaction amount. This fall, however, both Visa and MasterCard announced that they would charge the maximum amount even on small-ticket transactions the card industry previously processed profitably for as little as 6 to 8 cents. The move would severely impact many members of NRF’s National Council of Chain Restaurants division, whose transactions often amount to only a few dollars.

“Congress passed this law to cap swipe fees but the banks have turned a ceiling into a floor and raised fees dramatically higher for quick-service restaurants across the nation,” NCCR Executive Director Rob Green said. “This clearly was not the intent of Congress.”

The plaintiffs also said that the Fed’s final rules discourage competition among debit card networks. In order to establish a competitive market between networks such as NYCE, Pulse and Plus as well as the Visa and MasterCard networks, the law required that merchants be given a choice of two networks on every transaction. Under the Fed’s final regulations, however, banks can limit their cards such that merchants may never have a choice of networks. The lack of competition will allow the dominant networks to continue increasing their fees.

The lawsuit was filed in U.S. District Court in Washington, D.C.

As the world’s largest retail trade association and the voice of retail worldwide, NRF’s global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the United States and more than 45 countries abroad. In the United States, NRF represents an industry that includes more than 3.6 million establishments and which directly and indirectly accounts for 42 million jobs – one in four U.S. jobs. The total U.S. GDP impact of retail is $2.5 trillion annually, and retail is a daily barometer of the health of the nation’s economy. www.nrf.com.

Read full complaint

Merchants’ Lawsuit Says Fed Failed to Follow Law on Swipe Fee Reform

November 22, 2011 01:00 PM Eastern Time 

WASHINGTON--(BUSINESS WIRE)--Flawed debit card swipe fee reform regulations issued by the Federal Reserve this year have allowed big banks to continue charging unjustifiably high swipe fees and have discouraged price competition among credit card networks, according to a lawsuit filed in federal court today by three of the retail industry’s largest trade associations and two retail companies.

“Forcing small businesses to pay three times as much to the big banks on small purchases was clearly not the intent of the law and is further evidence that the Fed got it wrong”

The regulations, which took effect October 1, have led to an increase in swipe fees in some cases, the lawsuit brought by the Food Marketing Institute, National Association of Convenience Stores, National Retail Federation, Reading, Pa.-based Boscov’s Department Store and Norfolk-based convenience store/gas station chain Miller Oil Co. says.

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 required the Federal Reserve to set guidelines that would result in debit card swipe fees that are “reasonable” and “proportional” to banks’ costs in processing debit card transactions. Financial institutions with less than $10 billion in assets were exempt.

The Fed said in December 2010 that it had determined that it costs banks an average 4 cents to process a debit transaction, and proposed that the fees be capped at no more than 12 cents per transaction – triple banks’ actual cost. After intense lobbying by banks and the card industry, however, final regulations adopted in July 2011 set the cap at more than five times the actual cost – 21 cents plus 0.05 percent of the transaction and, in most cases, an additional 1 cent for fraud prevention.

While the Dodd-Frank law said the Fed could consider the incremental costs of acquiring, clearing and settling each transaction and specifically prohibited any other expenses from being used to inflate those costs, the lawsuit alleges that the Fed – under pressure from the banks and card industry – included costs that were barred by the law.

“The proposed rules followed the law, but the Federal Reserve Board changed its view of the law midcourse and without justification when issuing the final rules,” said Doug Kantor, a partner at the Washington law firm of Steptoe and Johnson and lead counsel in the lawsuit. “Not only did the final version fail to introduce competition, it provided a loophole for the big banks to exploit and actually increase some fees. The Fed’s job was to implement the law as written and it did not do that.”

The approximate 21-cent cap would lower swipe fees for most purchases, which averaged 44 cents but could range as high as several dollars under the previous formula of 1-2 percent of the transaction amount. This fall, however, both Visa and MasterCard announced that they would charge the maximum amount even on small-ticket transactions that previously cost merchants as little as 6 to 8 cents.

“Forcing small businesses to pay three times as much to the big banks on small purchases was clearly not the intent of the law and is further evidence that the Fed got it wrong,” Kantor said.

The plaintiffs also said that the Fed’s final rules discourage competition among debit card networks. In order to establish a competitive market between networks such as NYCE, Pulse and Plus as well as the Visa and MasterCard networks, the law required that merchants be given a choice of two networks on any transaction. Under the Fed’s final regulations, however, banks can limit their cards such that merchants may never have a choice of network. The lack of competition will allow the dominant networks to continue increasing their fees.

“Reducing swipe fees is good for consumers, good for small businesses and a good way to take unnecessary costs out of the system and invigorate our country’s economic engine,” Kantor said. “By not implementing the letter and the intent of the law, the Federal Reserve Board failed in its duty and missed an opportunity to give consumers and businesses the relief they deserve. This litigation is about correcting those mistakes.”

The lawsuit was filed in U.S. District Court in Washington, D.C.

Infographic Shows 120 Million Shoppers at Risk and in the Dark on Data Breaches and Identity Theft over Upcoming Black Friday Weekend

November 22, 2011 12:16 PM Eastern Time

DENVER--(EON: Enhanced Online News)--ID Watchdog Inc. (TSX.V: IDW) (OTC: IDWAF), provider of identity monitoring and preservation tools, today released an infographic exploring the risk of data breaches and identity theft over the upcoming Black Friday shopping weekend.

“There will be a wealth of consumer data including credit card numbers, email addresses, etc. circulating this weekend which creates a prime opportunity for hackers to strike retailers”

With the shopping “holidays” of Black Friday and Cyber Monday right around the corner, the National Retail Federation predicts that up to 152 million people will be hitting stores looking for deals. Yet, with widespread data breaches and identity theft leading some to call 2011 the “Year of the Hacker”, caution needs to be taken to prevent this from becoming the year that cyber thieves stole Christmas.

“There will be a wealth of consumer data including credit card numbers, email addresses, etc. circulating this weekend which creates a prime opportunity for hackers to strike retailers,” said Mike Greene, CEO, ID Watchdog. “According to industry research, these databases are prone to security risks and it only takes being right once for a hacker to successfully steal the personal data of thousands of customers.”

About ID Watchdog

ID Watchdog and its partners provide consumers with identity monitoring and preservation tools that provide the only real protection against identity theft: active knowledge about your online identity. Using these tools, consumers watch their credit reports and receive warnings about significant changes as first alerts to possible identity theft. ID Watchdog and its partners empower consumers to play a role in defending their online identity by remaining vigilant about changes to and inaccuracies in their credit reports and resolving any issues that do arise with the help of personal information agents.

ID Watchdog (TSX.V: IDW, OTC: IDWAF) was founded in 2005 and is headquartered in Denver, Colorado. All of the Company’s services have been developed with input from industry experts; national consumer advocacy groups; federal, state, and local law enforcement agencies; consumer protection agencies; and adhere to guidelines published by the Consumer Federation of America. For more information, please visit www.IDWatchdog.com.

U.S. Bank Upgrades Mobile Banking

November 21, 2011 12:53 PM Eastern Time 

U.S. Bank Customers Get Mobile Banking Upgrade

New app features check deposit for more devices and easier login

MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank recently released a new mobile banking application that significantly upgrades the mobile banking experience for all customers. The upgrade offers improved features and customer experience for iPhone, Android and BlackBerry. The new app, available in app stores now, begins a series of upgrades planned for U.S. Bank mobile banking over the next several months.

“U.S. Bank is a leader in mobile banking and with this new app, we have made banking even more convenient for our customers by delivering service right to the palms of their hands.”

"Customers are blending all of their business into their smartphones, and in many cases, mobile devices are now the first point of entry for consumers,” said Meheriar Hasan, executive vice president and head of U.S. Bank’s Internet and mobile channels. “U.S. Bank is a leader in mobile banking and with this new app, we have made banking even more convenient for our customers by delivering service right to the palms of their hands.”

Mobile check deposit

The new U.S. Bank mobile banking app has all the features and functionality that customers have come to expect from their mobile device, including mobile check deposit. U.S. Bank was one of the first banks in the nation to introduce mobile check deposit for iPhone when it launched in March 2011, and remains one of only a few banks to offer mobile check deposits today. The new app enables check deposit on iPhone and Android using the device’s camera feature. Customers will be able to deposit checks via iPad in January 2012.

Person-to-person payment

Another innovative mobile feature that U.S. Bank now offers is Pay-A-Person, which allows customers to send money to anyone in the United States simply by using the recipient's mobile number or email address.

Easy access to the app

U.S. Bank has made it much easier for customers to find and download the appropriate app to their smartphones. At www.usbank.com/mobile, customers can get the app by having an SMS message with a link sent to their smartphone, or by scanning the QR code, which will take them to the correct app store for their phone. Customers can also scan the QR codes on U.S. Bank ATM screens, or signs at U.S. Bank branches.

Easy login

U.S. Bank customers will now be able to log in to mobile banking with the same credentials they use for Internet banking, making it easier to login to mobile banking. Customers can also access other features, such as ATM and branch locator or customer service, without logging in to mobile banking. Using the phone's GPS, U.S. Bank now lists the closest U.S. Bank branches and ATMs to the customer’s current or chosen location.

Features that match services available via Internet banking:

• immediate access to account balances and transaction history,
• funds transfer,
• bill payment, and
• payments to other U.S. Bank accounts such as credit cards and car loans.

U.S. Bank is a leader in mobile innovation and has been recognized for its work in the mobile space. The company was the first bank in the United States to offer mobile banking and bill pay services to under-banked customers on reloadable prepaid cards such as U.S. Bank AccelaPay and ReliaCard. The U.S. Bank AccelaPay mobile banking application was honored as the "Best in Category for Virtual or Mobile Prepaid Application" at the 2011 Paybefore Awards. More recently, U.S. Bank was the first to offer a mobile application with instant approval and card access when it launched the REI Visa app for the iPhone in October 2011. Mobile access for businesses got easier with the launch of U.S. Bank SinglePoint Mobile in September 2011 and for health and flexible spending account customers with the launch of the U.S. Bank Healthcare Payments app in April 2011. U.S. Bank is a leader contactless mobile payment technology, being among the first banks to adopt mobile payment technology for contactless readers at the point of sale.

U.S. Bancorp (NYSE: USB), with $330 billion in assets as of Sept. 30, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,089 banking offices in 25 states and 5,092 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

Contacts

U.S. Bank
Teri Charest, Public Relations, 612-303-0732
teri.charest@usbank.com

The Most Disruptive Services Presently Evolving in the Telecoms Industry

November 22, 2011 11:50 AM Eastern Time 

Research and Markets: Mobile Payments 2012-2016 - Most disruptive services presently evolving in the telecoms industry

DUBLIN: Research and Markets has announced the addition of the "Mobile Payments 2012-2016" report to their offering.

Mobile commerce, especially the mobile payments market, is gaining traction among mobile subscribers, and the uptake of mobile payment mechanisms has begun to disrupt the traditional card-based payment market.

Mobile payment services are one of the most disruptive services presently evolving in the telecoms industry, and have now developed to such an extent that some argue the ever more multi-functional mobile handset could replace the wallet altogether, through cashless and cardless payment systems.

The V-SIM Patent is held by NFC Data, Inc.  To learn more, email me

Everyone in the mobile payments ecosystem - mobile network operators, solution vendors, app stores and developers, banks and card issuers, big retailers and other major merchants, handset and device vendors, and consumer associations - are in agreement that the mobile payments space is going to be a big market, but there is currently no consensus on exactly how we are going to get there.

Near Field Communication (NFC) looks strong, but - as with any solution that involves getting the overwhelming majority of the stakeholders within a value chain to work together and cooperate for a major industry change - there are likely to be countless conflicts of interest and endless differing opinions as to how to progress; especially with fantastic opportunities and hundreds of billions of dollars worth of transactions to compete for.

This new market study thoroughly examines the worldwide market for mobile payment services over the following eight fact-filled chapters:

• Introduction
• Mobile Commerce
• Worldwide Mobile Market
• Worldwide Mobile Money Market (includes: Mobile Payments, NFC, Ticketing and Coupons, In-app Payments, Mobile Banking)
• Regional Trends (includes: UK and US Case Studies; and Regional Key Developments)
• Case Studies - Key Players (ViVOtech, Visa, SK Telecom, Square, Ericsson IPX, Bango, and Boku)
• Summary and Conclusions
• Appendices (includes: Business Models)

Read more inside the comprehensive research report Mobile Payments 2012-2016

For more information visit http://www.researchandmarkets.com/research/7652c9/mobile_payments_20

WorldPay and Diners Club International® Expand Partnership to Increase Acceptance in Europe

November 22, 2011 10:48 AM Eastern Time 

LONDON & RIVERWOODS, Ill.--(BUSINESS WIRE)--WorldPay, the largest European acquirer and Diners Club International (DCI), a business unit of Discover Financial Services, today announced the signing of a merchant acquiring agreement that will increase the acceptance of Discover and Diners Club cards in the U.K. WorldPay will build on its current relationship by adding Diners Club and Discover as standard options to its portfolio of payments processing services beginning in early 2012, in time for the summer Olympic Games in London.

“Discover continues to expand acceptance by working with leading acquirers in the U.K. and around the world”

The partnership expands the relationship between WorldPay, a major global leader in payment processing that operates in over 40 countries and Diners Club, a globally recognized payments brand with the world’s first multi-purpose charge card. Currently, WorldPay offers Diners Club acceptance only on request by a merchant and is an E-commerce processor. In future, WorldPay will offer Diners Club and Discover to all merchants and will support D-PAS, Discover’s EMV-compliant payments solution, and will be enabling chip-based terminals throughout its implementation.

Ron Kalifa, WorldPay CEO said “Our expanded partnership with a renowned credit card brand such as Diners Club International reaffirms the WorldPay position as Europe’s leading payment processor. With the anticipated increase in overseas visitors expected to the UK next year, WorldPay customers will be able to offer a wider choice of payment options to their own customers.

“Discover continues to expand acceptance by working with leading acquirers in the U.K. and around the world,” said Gerry Wagner, VP of Global Acceptance for Diners Club International. “WorldPay’s global reach, local knowledge and robust products and services will enable us to increase our merchant presence in the U.K., benefiting our Discover, Diners Club and Network Alliance card members as they travel to Europe.”

About WorldPay

WorldPay is a leading global provider of payment and risk services, processing millions of transactions every day. WorldPay is a unification of seven leading retail payment solutions and offers a range of services including acquiring, gateway, alternative payments, risk management, and mobile payments. WorldPay became an independent company in December 2010.

worldpay.com

About Diners Club International

Diners Club International is owned by Discover Financial Services (NYSE: DFS), a leading credit card issuer and electronic payment services company. Established in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally recognized brand serving the payment needs of select and affluent consumers as well as providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to over 800,000 cash access locations and ATMs, Diners Club is uniquely qualified to serve its cardmembers all over the world. For more information, visit www.dinersclub.com.

About Discover Financial Services

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.

Fiserv Names Bruce Hopkins General Manager of Processing Solutions for its Card Services Division

November 22, 2011 09:00 AM Eastern Time 

New executive post established to manage debit, credit and risk product development, and client service delivery

BROOKFIELD, Wis.--(BUSINESS WIRE)--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has named Bruce Hopkins to the newly created post of general manager of Processing Solutions for its Card Services division. He will report to Kevin Gregoire, president of Card Services at Fiserv. In his new role, Hopkins will lead Card Services in supporting debit, credit and risk products and services, and manage the service delivery and payment processing functions.

“We’ll be fully leveraging his broad background as we pursue several impactful marketplace initiatives.”

“Bruce’s wealth of payments industry experience and knowledge makes him the ideal complement to our very strong Fiserv team,” said Gregoire. “We’ll be fully leveraging his broad background as we pursue several impactful marketplace initiatives.”

Fiserv provides comprehensive debit, credit, prepaid, ATM and ancillary processing services to more than 3,200 financial institutions across the United States. Fiserv also owns the ACCEL/Exchange Payments Network, operates 18,000 ATMs and processes approximately 800 million transactions monthly, making it one of the largest financial transaction processors in the nation.

Hopkins joins Fiserv from FIS where he previously served as senior vice president for the Merchant Solutions division within the Retail Payments Solutions business. During his career at FIS, Hopkins served in a variety of management roles leading payments business lines, including ATM acquiring, gateway processing, payments fraud management, biller direct payments, government payments, merchant solutions and the closed loop gift card business.

Prior to joining FIS, Hopkins was with J.J. Keller & Associates, Inc. and eFunds Corporation, where he held various positions in software development, project management, international software sales and product management.

Hopkins holds a master’s degree in business administration from Marquette University and a Bachelor’s of Business Administration in Management Computer Systems from the University of Wisconsin-Whitewater. He will be based in Brookfield, Wis.

AnywhereCommerce Announces the Creation of a Board of Advisors

AnywhereCommerce

MONTREAL, QUEBEC--(Marketwire - November 2011) - AnywhereCommerce today confirmed the election of four advisors to its newly created Board of Advisory.

The new members are;

OB Rawls IV; SVP at Tasq, has over 30 year's experience in the banking and electronic transaction payments business. During his career, Mr. Rawls, has held senior management position at several industry leading companies and most recently as SVP of Sales globally for Hypercom Corporation.

Des Docherty; has been with Visa for more than 15 years in executive-level business development capacities. With his strategic mind and natural creative ability, Des brings a highly desirable perspective and expertise to the payment industry. His professional philosophy is one dedicated to focusing on the distinct and individual needs of each stakeholder for sustained long-term relationships.

Jesse Adams, Former Executive Vice Chairman at VeriFone the largest POS manufacturer in the world. Jesse brings 30 years of senior executive experience in the payment processing business and became instrumental in the creation and development of the business of automating credit/debit card processing automation at the Point of Sale (POS). He has worked for vendors of hardware, software, & processing services that enable card transactions at the point of sale and on-line.

Najeeb Kahlid, is an Engineer who has founded a number of successful high tech companies. He is frequently cited in the Walls Street Journal and has served on a number of Corporate boards as well as the Montreal Neurological Institute. Najeeb has been awarded patents in fields as diverse as the Internet, lasers, optics, automation, light emitting diodes, system architecture, and software. Najeeb continues his pursuits in addition to lecturing at McGill University, Concordia, Ecole Polytechnique, Pakistan University of Engineering and Technology, Hyderabad University in India, MIT Sloan School and the Pakistan Institute of Publics Administration.

Commenting on the Board's creation, Mitchell Cobrin, President & CEO said, "AnywhereCommerce is humbled and honored with the new slate of Advisors. It's a privilege to have access to such experts, we have already begun to realize value on their contributions."