Processing and Systems

Venyon receives MasterCard certification for TSM services

Venyon has completed the compliance process for the MasterCard Mobile Provisioning Security Requirements. As a result the Venyon data centre in Munich, Germany is the first in Europe to receive MasterCard certification, enabling them to provide Trusted Service Manager (TSM) services for MasterCard issuers.

Read more

Elavon enters Mexico

US Bancorp's Elavon division has announced that its acquiring services will be offered to Mexican merchants through an agreement with Banco Santander of Madrid.

Read more

No major PCI DSS revision in 2010

The next revision of the PCI Data Security Standard (DSS) likely will feature clarifications and guidance documents but no major changes, says PCI Security Standards Council (SSC) general manager Bob Russo.

Read more

VocaLink launches consumer bill payment system

VocaLink has launched MyBillsOnline, a service that lets users view bills and statements in one place, regardless of their bank.

Read more

Firethorn meets PCI compliance

Firethorn has announced enhancements to its mobile banking and payments application to adhere to the industry’s most rigorous benchmark for secure credit card transactions – the Payment Card Industry (PCI) Data Security Standard (DSS).

Read more

Equens and VocaLink extend SEPA Credit Transfer interoperability agreement

Equens and VocaLink have extended their bilateral agreement to include SEPA Direct Debit (SDD) payment processing, in addition to the SEPA Credit Transfer (SCT) service already offered. Today at Sibos - the global event for the financial sector - both companies signed a Letter of Intent (LOI) on this matter.

Read more

Volksbank International to centralise European payment card processing with SIA-SSB

SIA-SSB has signed a framework agreement with Volksbank International (VBI), a part of the fourth largest banking group in Austria, to provide issuing and acquiring service for the complete management of payment cards, ATM and POS in nine Central and Eastern European countries.

Read more

First PA-DSS certified card and merchant management solution

WAY4 from OpenWay has become the first card and merchant management solution ever certified for PA-DSS – Payment Application Data Security Standards.

Read more

Planet Payment processing for JCB

Planet Payment has signed an agreement to provide processing support to JCB International, global payment brand holder and leading issuer and acquirer in Japan, for JCB merchants located in Hong Kong.   

Read more

First Data Renews contract with Vanquis Bank

First Data has signed a new seven year card processing agreement with Vanquis Bank, a UK-based card issuer. Under the terms of the agreement, First Data will also begin migration of the bank’s card portfolios to FirstVision, its global issuing and consumer finance processing solution, during the course of the next 18 months. 

Read more

mBlox delivers 2.5 billion mobile transactions

mBlox says it successfully delivered over 2.5 billion application-to-person transactions in 2008, a growth of 30% year-on-year. mBlox cleared and settled for its customers, premium transactions with a retail value of approximately $500 million, a strong result despite significant devaluation in major European currencies.

Read more

Fundtech acquires InterSoftware consolidating Bacs processing market

Fundtech has acquired InterSoftware through its UK-based division Accountis Europe. The acquisition expands the company’s UK corporate payments customer base to 8,500, representing over one-third of all companies processing Bacs payments. These new customers will benefit from having access to Accountis’ extensive range of electronic payment services, including electronic invoice presentment.

Read more

Fidelity National Information Services to acquire Metavante Technologies

Fidelity National Information Services and Metavante Technologies have announced that the boards of directors of both companies have approved a definitive agreement under which FIS will acquire Metavante. Under the terms of the agreement, Metavante shareholders will receive a fixed exchange ratio of 1.35 shares of FIS common stock for each share of Metavante common stock they own. The pro forma enterprise value of the combined company is approximately $10 billion.

Read more

PayLife switches processors

Following its decision earlier this year to award its debit and credit card acquiring processing business to Telekurs Card Solutions (now Six Card Solutions), PayLife Bank says it has also moved its debit issuing processing to Six and its credit card issuing business to SiNSYS for the period 2010-2015.

Read more

First Data’s stake in Trionis

First Data and Eufiserv first announced cooperation plans in May 2008, centred on expansion of Eufiserv’s European interbank processing network (ECR, May/June p4). In September, with the processing function split away from the scheme and renamed Trionis, First Data confirmed it would take a shareholdingof 50% and appoint four directors to the eight-man board.

Read more

How ACHs could evolve

Convergence among European ACHs means that the survivors must offer a wider range of services to keep their place in a post-SEPA marketA previous issue of ECR (July/Aug 2007) discussed the recent trend in the consolidation of processors and automated clearing houses (ACHs), citing the creation of VocaLink and Equens as examples. This article studies ACHs in more detail, focusing on the current turmoil within that market, and highlighting some of the impacts on the wider payments landscape.By Gareth Lodge

Read more

Preserving interchange: from explicit to implicit MIF

A bold concept to resolve the current impasse over interchangeThe collective setting of interchange fees is interpreted by many competition authorities as collective price fixing. It is argued that the collectively set interchange fee is used to set a minimum price on the acquiring side of the market.By Malte Krueger and Christoph Strauch

Read more