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Venture capital funding for payments on the wane

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Despite a slew of funding rounds for payment industry start-ups over the last few years, venture capital providers are backing away, according to data from CrunchBase. The research firm found that the number of venture-backed payments companies has declined from a high of 59 start-ups in the third quarter of 2013 to just 41 in the second quarter of 2014…. Continue reading >>

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ACI Worldwide acquires anti-fraud specialist ReD

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Global payment solution vendor ACI Worldwide is to acquire UK-based payment fraud prevention outfit Retail Decisions (ReD) for $205 million in cash. ReD’s suite of products includes solutions for merchants and payment service providers, issuers and acquirers, processors and switch networks. According to ACI Worldwide, the ReD acquisition is another step forward in capitalising on the growth in online and… Continue reading >>

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RS2 signs top global payments processor

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RS2 Software, the company behind the comprehensive, high-performance and high-availability card management solution BankWORKS, has announced a major license and services agreement with a global payments processing company. The comprehensive license and services agreement allows the global payments processor access to the full BankWORKS suite of products including its Core, Issuing and Acquiring modules. The total comprehensive value of the… Continue reading >>

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Powa Technologies acquires MPayMe to expand global footprint

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Powa Technologies Group has announced the acquisition of Hong Kong-based mobile expert MPayMe in a move that will vastly increase its global reach and provide a leading payment solution for the retail, telecoms and utility industries. The merger between the two privately held companies will see Powa Technologies and MPayMe operate as a single global entity under the Powa brand… Continue reading >>

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Visa and MasterCard will continue to operate in Russia

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Visa and MasterCard plan to continue to operate in Russia, following compromise agreements with the Russian government in the wake of the sanctions imposed on the country due to the ongoing Ukraine/Crimea tensions in the region. Following the imposition of economic sanctions against Russia in March this year, Visa and MasterCard both stopped processing card transactions for certain Russian banks…. Continue reading >>

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SEB sells card acquiring operations to Nordic Capital

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Swedish bank SEB is to sell its card acquiring business Euroline to private equity player Nordic Capital for SEK 2.2 billion. Euroline, which acquires Visa, MasterCard and Diners Club transactions and is a major e-commerce player in the Nordic region, handled volumes of around SEK 100 billion in 2013. SEB has issued nearly four million cards under brands such as… Continue reading >>

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Austria Card acquires Turkey’s Provus Kart

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Austria Card (Lykos Group), an internationally leading card manufacturer, increased its share in the Turkish personalization specialist Provus Kart Hizmetleri A.Ş. to 100%. Former Provus thereby started to operate under the new company name Austria Card Turkey Kart Operasyonları A.Ş. With the complete acquisition of Provus, Austria Card will play a pivotal role in the industry’s development in Turkey and… Continue reading >>

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MasterCard acquires ElectraCard Services

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MasterCard announced that it has entered into an agreement with Opus Software Solutions Pvt. Ltd.,  (“Opus”) to acquire its subsidiary, ElectraCard Services Private Limited, (“ECS”), a leading global provider of software solutions and processing services for electronic payment and card systems. MasterCard previously had a minority investment in ECS. This transaction is anticipated to close in the second quarter of 2014…. Continue reading >>

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HID Global and Proxama join forces for mobile proximity marketing

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HID Global and Proxama, the global platform provider of mobile proximity marketing, mobile wallet and payment solutions, announced that they have partnered to create a solution enabling rapid deployment of secure mobile web-based coupon and loyalty schemes. The solution combines the loyalty capabilities of Proxama’s TapPoint platform with the security of HID Trusted Tag Services to deliver “a frictionless consumer experience… Continue reading >>

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Eagle Eye customer engagement platform at point of sale

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EPOS specialists, Comtrex Systems have announced a partnership with digital consumer engagement experts Eagle Eye Solutions. Their platform, Eagle Eye AIR, allows merchants to easily connect with potential and existing customers to deliver relevant offers, rewards and services that can be redeemed securely through any point of sale. Following a successful engagement supporting the Tesco Clubcard Boost programme with high… Continue reading >>

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