Cards

Efforts to create a common set of requirements for so-called “end-to-end” encryption moved forward last week when the Secure POS Vendor Alliance released its End-To-End Encryption Security Requirements.

Global mobile-payment services provider Mobibucks Pvt. Ltd. has inked a strategic-partnership deal with Emirates Net Systems LLC, an official from the Abu Dhabi-based information-technology provider tells PaymentsSource.

Faulu Kenya has inked a deal to enable its customers to withdraw cash from machines within the PesaPoint ATM network, the Kenya-based financial company announced recently.

Paymate Pvt. Ltd. plans to introduce its Green Money Transfer service to Sri Lanka by the end of this year, an official from the Mumbai-based mobile-payments provider tells PaymentsSource.

Lawmakers will return from their week-long Memorial Day recess this week right in the middle of a human scrum – hundreds of credit union executives crossing hundreds of retailers arguing over a key provision in the bank reform bill that would introduce government oversight of the market for cards interchange.

MasterCard Worldwide on June 3 introduced an application designed to enable cardholders with Apple Inc. iPhones to initiate person-to-person funds transfers between MasterCard accounts. But thus far just one U.S. banking company is supporting the service.

Local governments, universities and charities in the United Kingdom may use First Data Corp. to manage their credit cards issued to employees now that the Atlanta-based company is an approved supplier to these types of organizations, First Data says.

Bus passengers in the United Arab Emirates city of Sharjah now may use smart cards to pay their fares, an official for the Sharjah Public Transport Corp. tells PaymentsSource.

China Mobile reportedly is delaying deployment of an RF-SIM contactless-payment technology based on a standalone 2.4-gighertz frequency and instead is adopting SIMpass, a contactless card that uses a 13.56-megahetz radio frequency and that is fully compatible with the widely accepted Near Field Communication standard.

A growing number of mobile payments companies are promoting systems that charge purchases to users' phone bills rather than credit or debit cards.

The final provisions of the Credit CARD Act take effect in August, but issuers are still in the dark about several key requirements that will affect how they calculate penalty fees.

Despite marketers’ efforts to expand the network-branded gift card market, consumers still prefer to purchase closed-loop prepaid cards as gifts, new research suggests. Fees and poor marketing may be the chief reasons why.

Consumers typically receive rebate payouts through prepaid cards or checks. Soon they also will have the option to have the funds deposited directly into a PayPal Inc. account.

Octopus Cards Ltd. in December will launch a contactless smart card consumers may use in Hong Kong and in the Chinese city of Shenzhen. The card will support separate accounts in Hong Kong dollars and Chinese yuan, an official at the company tells PaymentsSource.

DBS Bank Ltd. plans to expand its ATM network in Singapore by adding 100 ATMs by the end of this year. Once the expansion is complete, the bank’s network will grow to 1,070 ATMs, according to the Singapore-based bank.

Kuwait Finance House has migrated its network of point-of-sale terminals and ATMs to EMV chip-and-PIN technology, an official from the Kuwait City-based bank tells PaymentsSource.

Target Corp. on June 3 announced a new rewards program designed to drive more transactions to its branded payment cards. Customers paying with a Target credit or debit card will receive a 5% everyday discount at the point of sale on all purchases.

The U.S. Securities and Exchange Commission on June 2 filed civil charges against several current and former executives at Diebold Inc. In addition, the agency filed paperwork in federal court finalizing a $25 million settlement the ATM maker reached with SEC staff two years ago to resolve three years of legal issues with the regulator.

Four out of five U.S. households with Internet access now bank online, suggest the results of a Fiserv Inc. survey released May 25.

Four out of five U.S. households with Internet access now bank online, suggest the results of a Fiserv Inc. survey released May 25.