Monday, July 13, 2009

How Many Internet Users Are There in the World?

Internet World Stats is an International website that features up to date world Internet Usage, Population Statistics and Internet Market Research Data, for over 233 individual countries and world regions. See the Big Picture


A useful resource for international market research, containing Internet statistics, broadband penetration, world population data and global markets information. The IWS website is updated frequently.

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Global Payments Doubles Down on $150m Loan

Global Payments Completes $300m Loan

    Global Payments Inc. (NYSE: GPN - News) has announced the completion of a $300 million, 3-year unsecured term loan with a consortium of financial institutions. The electronic transaction services provider said it plans to use the funds to repay its $350 million revolving credit arrangement.

    The revolving facility was deployed for the $307.7 million acquisition of the remaining 49% ownership in the company's U.K. joint venture with HSBC Bank Plc.The loan is structured in 2 tranches, a $230 million and another 44 million British pounds sterling tranche (equivalent to $70 million).

    Global Payments also stated that the original loan amount was $150 million. However, on account of strong investor demand, the amount was boosted to $300 million.  GPN, a Zacks #3 Rank ("Hold") stock, has advanced more than 2% on volume of approximately 266,000, which is well below the average daily volume of about 633,000.

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    Urban Trust and Visa Partner on Prepaid Debit Card Program

    Urban Trust, Visa partner for Success prepaid debit card

    Orlando, Fla., July 13, 2009 -- Urban Trust Bank, a minority-controlled federally chartered thrift, and Visa Inc. (NYSE: V) today announced they have signed a multi-year agreement to offer the Urban Trust Success prepaid debit card. Under the terms of the agreement, Urban Trust Bank will offer Visa branded prepaid debit products to its existing customer base in 24 branches throughout central Florida and Maryland, as well as online and through other channels with the expectation of becoming a nationally recognized leader in the prepaid debit market.

    "Urban Trust Bank's mission is to strengthen communities by expanding access to banking services for families, small businesses, and individuals," said Robert L. Johnson, Chairman of Urban Trust Holdings, Inc. "Through our partnership with Visa, consumers will have the financial freedom to use the Urban Trust Success card everywhere Visa debit cards are accepted. Our offering of an optional Elastic(TM) line of credit will enable consumers with a regular source of income -- banked or unbanked -- to have responsible access to a line of credit, help build their credit histories, and to participate in the financial mainstream," he concluded.

    The Urban Trust Success prepaid debit card provides flexibility, security and a low cost alternative for consumers who now rely on cash or those who face challenges with obtaining traditional bank or credit products. Additionally, Urban Trust Bank will offer an optional Elastic(TM) line of credit to this product offering. Elastic(TM), offered through ThinkCash allows customers to use small lines of credit for emergency cash or to increase their buying power.

    "We look forward to working with Urban Trust Bank to grow Visa Prepaid products, enhance our prepaid services, and expand access to convenient and secure payments, especially for those consumers without traditional banking relationships," said Bill Sheedy, President, North America, Visa Inc. "Visa Prepaid cards provide a much more efficient alternative to a cash and carry lifestyle, empowering consumers with a convenient way to make everyday purchases, pay bills, transact online, and receive deposits. These products also provide consumers greater peace of mind that their funds are protected against loss or theft, a benefit not provided by cash."

    Additionally, cardholders will be able to add funds to their Urban Trust Success cards through Visa ReadyLink -- Visa's prepaid load network -- at nearly 50,000 participating merchant locations nationwide, extending the convenience and security of reload services to Urban Trust Success Visa prepaid cardholders in more convenient, everyday shopping locations.

    About Urban Trust Bank

    Urban Trust Bank (UTB) is a profitable, federally chartered community-oriented bank with a growing network of branches in Florida and Maryland. As the fastest growing minority-controlled bank, Urban Trust Bank, founded by Robert L. Johnson is successfully executing an innovative business model that provides value-oriented, common-sense banking and mortgage services. UTB is designated as well capitalized by the FDIC, the highest possible capital rating. UTB is headquartered in Central Florida, and has offices in the Washington, DC metro area. For more information visit Urban Trust Bank online at: .

    Media Inquiries: Traci Otey Blunt, The RLJ Companies at 240.744.7858 or or Nancy Port Schwalb for Urban Trust Bank at 407.246.1981 or

    About Visa Inc.

    Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit .

    Media Inquiries: Jennifer Doidge, Visa Inc., 415.932.2564, or

    Source: Company press release.
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    OpenCard Deal with CardSwitch

    CardSwitch teams up with OpenCard to battle payment card fraud

    London and Bogota, Colombia, July 13, 2009 -- CardSwitch Technology Limited and OpenCard S.A. recently signed a partnership agreement which will allow OpenCard(R) to market the CardSwitch payment security solutions.

    The CardSwitch system prevents fraud that results from card skimming. CardSwitch Technology offers a system that is the only really effective method to deflect the increase in card fraud while guaranteeing an excellent quality of service to cardholders. The technology enables cardholders to put an electronic lock and key on their card accounts, making it futile for hackers and fraudsters to skim cards. When a cardholder decides that his card will not be used for any ATM transaction abroad, he can lock his card account, making it impossible for fraudulent out of country ATM transactions to occur. The same control can be applied to card-not-present transactions, out of country card payments and local ATM transactions.

    Cardholders can then unlock their card accounts for these types of transactions before they want to use their card and can specify particular limits, such as which countries the card will be used in, period of time, number of transactions, and more. These parameters, called "cardholder user limits" can be set by simply sending an SMS command with a mobile phone, calling an automated voice response system, or via the Internet. Cardholders can lock or unlock their card accounts 24 hours a day, seven days a week.

    OpenCard(R) currently has customers in Colombia, Costa Rica, Puerto Rico, Venezuela, Panama and the United States. "We are excited to bring the CardSwitch Technology solutions to our customers in the Latin America market to enhance the security of their card offering," stated Alvaro Ortega Mejia, Sales and Marketing Manager for OpenCard S.A.

    The rise in instances of card related fraud across the world is a concern. The joint marketing efforts have begun in Colombia this month and will continue into other Latin American countries later in 2009. OpenCard's solutions are the dominant solutions in the Financial Industry in Colombia, encompassing 58% of the total active cards in this market.

    About CardSwitch Technology Limited

    The CardSwitch Technology Limited mission is to provide unique secured payment solutions which result in new revenue and reduced fraud for our clients. CardSwitch Technology provides security solutions for card issuers and acquiring banks. The solutions allow for cardholders to control their cards with precision without interfering with their usage or service available through the cards. The solutions work with all types of payment cards from credit to debit and prepaid cards. .

    About OpenCard S.A.

    OpenCard S.A. is a leader supplier of products and software solutions to process Credit Cards and other revolving credits. The OpenCard(R) system helps financial institutions, retail commerce and services suppliers to manage, operate and process all the credit management cycle in a more efficient way, improving the institution productivity and profitability. .

    Source: Company press release.
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    CHARGE Anywhere(R) Releases the First Mobile Payment Solution for the BlackBerry(R) Tour(TM) Smartphone

    • Press Release
    • Source: CHARGE Anywhere

    SOUTH PLAINFIELD, N.J., July 13 /PRNewswire/ -- CHARGE Anywhere®, a leading provider of secure Point-of-Sale (POS) solutions and electronic payment services and a BlackBerry® ISV Alliance Partner, is proud to announce the release of the latest version of its industry leading mobile card payment software application supporting the new 3G BlackBerry Tour Smartphone. The BlackBerry Tour is feature-packed and offers state-of-the-art communications and multimedia capabilities, and is now available with CHARGE Anywhere's card payment functionality.

    Since 2004, CHARGE Anywhere specializes in secure mobile point of sale solutions that encompass software, hardware, security services, and support for mobile merchants. With many secure PA DSS certified software applications and its top-of-the-line PCI DSS Level 1 secure payment gateway, CHARGE Anywhere provides end-to-end secure solutions that enable merchants to accept credit cards anywhere, any time.

    "With the certification of the BlackBerry Tour, CHARGE Anywhere remains in its leadership position with providing the latest in secure, mobile payment solutions to our valued customers and partners," said Paul Sabella, President and CEO of CHARGE Anywhere.

    "CHARGE Anywhere works tirelessly to provide best-of-breed solutions to the market as evidenced by the recent addition of support for the BlackBerry Tour," said Dmitriy Lerman, Director of Marketing at CHARGE Anywhere.

    The CHARGE Anywhere team strives to be on the leading edge, providing continuous integration with the latest technologies, while maintaining award-winning iron-clad security. The addition of the BlackBerry Tour smartphone to CHARGE Anywhere's portfolio of supported mobile payment platforms extends the benefits of this new and exciting technology to CHARGE Anywhere's customers. CHARGE Anywhere's customers can immediately start boarding mobile merchants on First Data, TSYS, Global Payments, Paymentech, and Elavon payment processing platforms.About CHARGE Anywhere: CHARGE Anywhere is a leading provider of secure Point of Sale solutions and electronic payment services. Our proprietary Payment Card Industry PA-DSS certified CHARGE Anywhere® v2.0.0 Mobile Payment/POS software solution designed for QuickBooks®, Smartphones, and e-commerce environments, and the Web Terminal Payment Solution ensure PCI DSS Level 1 compliance via ComsGate® Payment Gateway. CHARGE Anywhere offers business partners and customers the most secure and robust selection of industry specific and customized POS solutions and services, including; IP/Wireless Payment Gateway, POS software, Encryption and Data Security Services, Custom Card Issuance, and Merchant Billing Services. For more information contact them at

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    Days of FREE Credit Cards "R" Gone

    Credit Cards with Annual Fees Will Be Widespread by End of 2010, Says Auriemma Consulting Group

    LONDON--(BUSINESS WIRE)--Reduced revenues will drive credit card issuers to introduce cards with annual fees to consumers in the near future, according to Auriemma Consulting Group, a management consulting firm that serves the cards and payments industry. Cards without annual fees will not feature rewards and will only offer cardholders basic benefits.

    This shift away from no-fee credit cards will come as a result of the changes in the ways that consumers are using credit cards, which affects the profitability of credit card issuers. Consumers are less likely to carry balances on their credit cards, reducing the amount of revenue card issuers can earn on interest. Data published by Auriemma Consulting Group in Cardbeat® shows that the percentage of consumers carrying balances on their credit cards has decreased 40% in the past year. Additionally, the number of consumers unable to pay their bills (credit cards or otherwise) has increased dramatically over the past 18 months. Since the end of 2008, the percentage of credit card accounts written off by lenders has exceeded 10%; in 2006, the percentage of credit card accounts written off was typically between 3 and 5%. These two factors have resulted in card issuers being forced to seek out alternate commercial models and income streams.

    To maintain profitability, many issuers will aggressively market fee-based cards to customers. Whilst credit card companies will continue to offer no-fee cards, the rewards aspect of these cards will be greatly reduced or removed altogether. Rewards cards, including cards with premium services or benefits, will certainly feature a fee in the near future. Credit card issuers that currently offer cards with annual fees will most likely increase those fees.

    Additionally, card issuers will develop new card offerings, with tiered rewards and benefits. Most likely, these offerings will have several cards under a specific brand. Cardholders can pay a higher fee for richer rewards and benefits, and a lower (or no) fee for a more basic product. There have already been examples of tiered cards in the market. In the UK, the most notable example comes from M&S Money (a subsidiary of HSBC). M&S’s basic no-fee card gives cardholders 1 point per £1 spent in the store. Cardholders enrolled in their Premium Club (with a £10 monthly fee) receive free vouchers for coffees from the in-store cafe, complimentary family travel insurance, and earn 3 loyalty points for every £1 spent in the store.

    Megan Bramlette, a managing associate at Auriemma Consulting Group says, “By the end of 2010, all major credit issuers in the UK will have some sort of fee-based enhancement available to its customers, the most successful of which will offer benefits that are in line with their core value proposition like in-store benefits for a retailer co-brand card, or premium seat selection and baggage fee waivers on airline cards.”

    It is expected that it will be more expensive for consumers to borrow money in the future, whether on a credit card, a mortgage, a personal loan, or any other type of financial product. As the lending industry transitions to a fee-based environment, it is likely that many British consumers will cease using credit cards, particularly the sub-prime and mass-market population. The number of credit card users in the UK will shrink, and the remaining consumers using credit cards will be the more affluent and rewards-seeking population.

    About Auriemma Consulting Group

    Since 1984, ACG has offered comprehensive management consulting, research, industry roundtable and benchmarking services to the financial services industry. ACG clients include credit card issuers and networks, commercial banks, auto and mortgage lenders, merchants, and industry vendors. With offices in London and New York, ACG offers actionable solutions to help clients make important business decisions to maximise their efficiencies and revenues.

    Pulse Extends Debit Relationship with U.S. Bank

    PULSE extends debit network relationship with U.S. Bank

    Houston, July 13, 2009 -- PULSE has extended its relationship with U.S. Bank in a long-term agreement that provides U.S. Bank customers with PIN debit point-of-sale (POS) and ATM services.

    “PULSE has a proven record of providing reliable and high-quality PIN POS and ATM services, which was vital in renewing our long-standing relationship,” said Lynn Heitman, senior vice president in U.S. Bank Retail Payment Solutions. “PULSE has been a strong partner for many years, and we look forward to continuing to provide our cardholders with convenient and accessible debit and ATM services through an industry leader like PULSE.”

    “We strive to provide quality services to all of our participants, and we are proud to work with a valued customer in U.S. Bank,” said Leah Henderson, executive vice president of sales at PULSE. “We look forward to growing our long-term relationship with U.S. Bank, as we continue to provide reliable network access and customer service to our entire network.”

    About PULSE

    PULSE is one of the nation’s leading ATM/debit networks, currently serving more than 4,500 banks, credit unions and savings institutions across the country. PULSE is owned by Discover Financial Services (NYSE:DFS - News). The network links cardholders with more than 289,000 ATMs, as well as POS terminals at retail locations nationwide. The company is also a valued resource for industry research related to electronic payments and is committed to providing its participants with education on evolving products, services and trends in the payments industry. For more information, visit .

    About U.S. Bancorp

    U.S. Bancorp (NYSE:USB - News), with $264 billion in assets, is the parent company of U.S. Bank, the 6th-largest commercial bank in the United States. The company operates 2,847 banking offices and 5,183 ATMs in 24 states and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the Web at .

    Source: Company press release. 

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    The End of Free Credit Cards...

    The end of free credit cards? | Moneywise
    Fee-charging credit cards could soon become the norm, with customers paying a monthly fee in return for features like balance transfers, a low interest rate and cashback.

    Egg has this week become the first major credit card provider to launch a mainstream fee-based card, and experts believe other providers will soon follow suit.

    The new Egg MasterCard costs £1 a month (£12 a year) and in return customers receive 1% cashback on all purchases made at MasterCard outlets, up to £200 a year. This means people only need to spend £100 a month on their card in order to recoup their monthly fee, as long as they pay off the balance in full every month and avoid interest charges of 16.9% APR.

    The Egg MasterCard, which is available via online-only application from 14 July, also comes with a balance transfer rate of just 8.9% for life, and there is no fee to transfer balances from other cards. In comparison, the top balance transfer credit cards offer 0% for up to 16 months (subject to a fee of between 2% and 3%) and then revert to around 17% APR.

    Egg consumers will pay £145 interest on the average balance transfer (£1,846), according to uSwitch.

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    C3 Partners with HSBC on Electronic Payroll Card

    HSBC introduces Electronic Payroll Card Services for low wage earners | HSBC Bank Middle East

    HSBC introduces Electronic Payroll Card Services for low wage earners

    HSBC Bank Middle East Ltd announced the official launch of the new Payroll Card Service, which will allow customers to process salary payments electronically while giving their employees the benefit of security and the convenience of a debit card.

    * United Arab Emirates: * PRESS RELEASE

    The service is being provided in partnership with C3 Card, a company specializing in prepaid card and payroll services.

    With this new service, companies employing a large number of low wage earners can ensure convenient and timely payments of employee salaries. The MasterCard prepaid card can be used at ATMs across the UAE and the world.  Card users can also swipe their card at any enabled point of sale store terminals to make purchases.

    Paul Edgar, Head of Transaction Banking, HSBC Bank Middle East, says:

    'Our new payroll product further enhances our extensive menu of business services. Existing wage payment methods have been fraught with inefficiencies as well as posed security issues. With our new and innovative solution, customers can be assured of making prompt payments in an expedient manner, electronically.'

    'The Ministry of Labour is in the process of implementing the Wage Protection System in order to protect workers' dues. We believe that the use of a robust electronic payroll system will have an essential role to play in delivering this objective,' he added.

    In order to help with usage and overcome first time card user difficulties, HSBC will work with its partners to provide training support. User enquiries will be attended to through a dedicated telephone line available through the C3 support lines in many languages including English and Hindi. Mobile ATM vans may be made available to visit large customer sites, if this is requested as a part of the service proposition.

    The service was piloted in the UAE with Kibsons International, a large local importer of fresh food produce. Since then, more than a dozen other companies have been implemented and more are being signed or under process.

    The payroll card is a PIN protected card and will have the user's name and passport/labour card number imprinted on the card. The user can access the funds anywhere using any ATM connected to the UAE's ATM network.

    Halima Jumani, Operations Manager of Kibsons International said, 'As a company with a large workforce with low income earners, salary disbursements can often be a time consuming procedure involving tedious cash counts and pay slip acknowledgements. With the new Payroll Card Service, HSBC has revolutionized the banking experience of low income earners enabling us to provide our employees with a more efficient and comfortable work environment. Our human resources have also greatly benefited from this solution and we see this as a win-win situation for both Kibson International and our employees.'

    HSBC provides transaction banking services to corporations and financial institutions across the world. HSBC Global Transaction Banking (HSBC GTB) provides products, services and solutions to the clients of HSBC's Global Banking and Markets and Commercial Banking businesses.

    About C3

    C3 Card is a company incorporated in Dubai, with regional Capital. C3 Card has partnered with a Bank in the UAE and has built a capability in the UAE to distribute, activate and top-up Pre-paid cards as well as to provide a comprehensive customer service operation.

    C3 Card is the leader for Pre-paid services including regular Pre-paid products, remittances originating from the Middle East and payroll applications.


    C3 Card offers companies the C3 Payroll card which enables employees to receive their salaries via instant electronic transfer, in accordance with Ministry of Labour legislation which came into effect in January 2008.

    Our Challenge

    • A convenient multi-purpose solution to eliminate cheques, cash, and pay stubs from payroll
    • To eliminate payday fraud
    • To streamline operations
    • To provide a better experience for employees
    • To provide better reporting tools and benefits for the companies
    C3 Card meets the challenge and offers an end to end value proposition.

    The employees receive the funds on a card rather than having to cash a cheque and it gives them access to shopping on the Internet or through the traditional retail environment. Cardholders do not need to carry cash around.

    For the non-banked, this solution removes the inconvenience and cost of exchanging cheques for cash, whilst providing the benefits of a Debit Card such as access to the online world of payments.

    C3 Card enables you to deposit the weekly/monthly payroll cash to a settlement account.

    The card is significantly easier to manage for all in the value chain.

    Benefit to Companies

    • Automate salary with a convenient payroll solution
    • Eliminate the cost and inconvenience of disbursing salaries by cash or cheque to employees
    • Monitor and track salary disbursements through reports on card issuance and funding
    • Auto-report will be sent automatically to the Ministry of Labour
    • Pay employees at off-site locations
    • Pay employees for expense / incentive reimbursement
    • Add value in the social environment
    • Employees can benefit from promotions
    Benefit to Employees

    • Immediate funds (wherever the employee is)
    • No more cheque cashing or long queues
    • Remove the risk of carrying cash
    • Ease of use, safe and convenient
    • Prestige of having a MasterCard Payroll card
    • Shop and pay for goods and services
    • Obtain cash from ATMs 24/7
    • Money transfer capabilities
    • Support via Web/IVR/Call Center
    For more information on the program call our customer service hotline or send an email to

    India ePayment Market to Reach US $180 Billion by 2010

    Indians Fast Turning to E-Payments - BusinessWeek
    PwC estimates India's retail e-payment market will soar to $150 billion by next year thanks to growth among Internet and mobile phone users
    By Swati Prasad
    India's retail e-payment market is likely to grow by nearly 70 percent in the next two years. The value of retail e-payments should reach between US$150 billion and US$180 billion by 2010, according to a report by financial research and consulting firm Celent.

    Prathima Rajan, analyst, Celent, said: "Ever-increasing technological changes, growing Internet access and mobile subscriber base, rising consumer confidence, and convenient delivery and payment models are the prime factors fueling this trend."

    However, despite the high growth, customer adoption of electronic payment channels in India is still at a nascent stage, Rajan told ZDNet Asia in an e-mail interview.

    Growing popularity of e-payments is also reflected in the market for plastic money. According to Celent, the Indian debit and credit card market grew at a compounded annual rate of 128.7 percent between 2004 and 2008 and is expected to reach 210 million cards by 2010.

    The report expects debit card circulation to increase to 169 million by 2010, up from 102.4 million today, while credit cards should increase from 27.5 million to 40 million during the same period.

    Mario Shiliashki, general manager, PayPal South East Asia and India, told ZDNet Asia in an e-mail: "E-payments are growing in popularity across the globe and India is no exception."

    PayPal is increasingly being used in India for cross-border trade through e-commerce sites for the sale of gemstones, jewelry, electronics and household items and for services such as Web design, travel and digital content.

    With 75 percent of its population below the age of 35, e-payments have enormous potential in India...

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    PayEasy Partners with UseMyBank

    Why Debit Cards? Debit is the fastest growing payment method globally | Online Payment Report
    Why Debit Cards? Debit is the fastest growing payment method globally

    70% of the world does not have a credit card (PayPal research 2009), which suggests there is a compelling case for alternative forms of online payment, such as debit and pre-paid cards.

    For example, only 4% of the Philippine population has credit cards.

    To partly address this, a new entrant into the epayments world PayEasy, an Asian online payment provider, has partnered with UseMyBank, a Canadian online payment solutions provider, to accept real-time bank debit payments across Europe, China, and the UK.

    “UseMyBank complements our drive to provide the most comprehensive online payment solution for local merchants,” said Dick Chiang, Mozcom CTO.

    UseMyBank offers an alternative to credit cards. UseMyBank’s Anti-Fraud System (AFS) prevents and claims to ‘detect fraudulent use of bank cards quickly, reducing losses due to fraud, and assuring a good funds model of 99.999999%.’

    “Debit is the fastest growing payment method globally in the ‘brick and mortar’ retail world, with growth rates that have surpassed the rate of credit card growth the past few years,” said Joseph Luso, CEO, UseMyBank, “Any Merchant that offers customers debit online is simply allowing their customers to extend their offline shopping habits to their online purchases.

    It follows the basic tenants of Web 2.0 by allowing the Buyer more options for payment – and to finally use the payment method most used offline.”

    So, how does it work? UseMyBank offers a real-time debit payment option to the existing payment processing market place. Its technology allows clients to pay for goods and services directly over the Internet using their existing financial services provider.  Mozcom PayEasy supports most all credit cards – Visa, MasterCard, American Express, Discover, JCB, Diners Club, BancNet – and MegaLink ATM cards, PayPal, China UnionPay, Globe G-Cash, Smart Money, Western Union, over-the-counter bank deposits, and direct account debit with major banks in China, Malaysia, Thailand, Taiwan, Canada and several European countries.   How to take debit cards online: visit

    , ,

    EVENT: The International Conference on Trusted Systems

    INTRUST 2009
    The International Conference on Trusted Systems

    17th-19th December 2009 Beijing, P.R.China


    TRUST2009 is the first International Conference on the theory, technologiesand applications of trusted systems. It is devoted to all aspects oftrusted computing systems, including trusted modules, platforms,networks, services and applications, from their fundamental featuresand functionalities to design principles,architecture and implementation technologies. The goal of theconference is to bring academic and industrial researchers, designers,and implementers together with end-users of trusted systems, in order to foster the exchange of ideas in this challenging and fruitful area. The conference will be held in Beijing University of Technology & ONETS.
    INTRUST 2009 solicits original papers on any aspect of the theory, advanced development and applications of trustedcomputing, trustworthy systems and general trust issues in moderncomputing systems.

    The conference will have an academic track and anindustrial track.
    This call for papers is for contributions to both of the tracks. Submissionsto the academic track should emphasize theoretical and practicalresearch contributions to general trusted system technologies, whilesubmissions to the industrial track may focus on experiences on theimplementation and deployment of real-world systems.

    Thailand Bank to Use FundTech's Global CASHplus

    Thai Bank Deploys Fundtech' Global CASHplus - Banking Business Review : News
    Offering Integrated Transaction Banking Services to Clients

    Thailand-based United Overseas Bank (UOB) has implemented Global CASHplus (GCP), a new transaction banking system from Fundtech, a provider of global transaction banking solutions. FundTech said that the solution combines comprehensive global cash management with automated financial supply chain features.

    From  FundTech's website: CASHplus® is Fundtech's global cash management solution, leveraging the most advanced technologies, the most efficient system architecture and the most progressive functionality to provide cash management services for an ever widening global marketplace. CASHplus is a multi-lingual, multi-currency product that offers a comprehensive set of Internet banking services through a full range of delivery channels.

    Fundtech said that GCP is equipped with a suite of solutions that manages channel finance & services, collections management, payments processing, receivables management, liquidity management and account reconciliation. The company claimed that GCP offers UOB's corporate clients a secure environment to manage their cash functions online, including payments, collections and balance reporting. Its front-end capabilities, including multi-lingual support, offer a single-window interface for all types of cash management transactions.

    Sanjay Dalmia, Managing Director, Fundtech India, said: “We are delighted that UOB has selected Fundtech's Global CASHplus to provide advanced transaction banking services to its clients. The product's innovative features will enable UOB to offer the industry's most comprehensive and competitive corporate banking service.”

    Fundtech is a provider of software and services to banks around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients.

    , ,

    Credit Card Bailout Introduced in St. Paul, MN

    Credit card fraud alleged in suspect's payment of bail at Ramsey County jail

    A gangster escaped from jail in a way that longtime cops say they've never seen — apparently through credit card fraud.

    The Ramsey County sheriff's office contends that Corey Nathan Hobbs, 24, of St. Paul, posted bail with a credit card number stolen by his sister, a U.S. Bank employee, according to an affidavit for a search warrant.

    The net started closing on Hobbs shortly after he was released from the Ramsey County Jail on Monday.

    A Ramsey County sheriff's analyst was conducting routine monitoring of recordings made from jail phones and heard something potentially incriminating, according to the affidavit.

    Hobbs was talking to his sister, Candace Ann Hobbs, and asked why the first credit card — which Corey Hobbs told a bail bondsman belonged to his grandmother — she used to post bail had been declined.

    "She states that it is probably because they charged so much on it," the affidavit said. The second card she used was accepted. "Candace then goes on to state the credit card she used is OK as the people left for Jamaica the day before."

    Signs posted at the jail phones say conversations are recorded, and inmates and the person they're calling hear a recorded message saying as much before calls are connected, said sheriff's office Director Steve Lydon, who oversees the East Metro Real-time Information Center and the career criminal unit.

    Both credit cards were U.S. Bank accounts and the one used to post bail belongs to a man who lives in Kansas, the affidavit said. Candace Hobbs, who hasn't been arrested but is under investigation, worked in customer service for U.S. Bank and "as part of her job function, would have routine access to credit card information," the affidavit said.

    Candace Hobbs, 25, of St. Paul, has been terminated from her job, U.S. Bank spokesman Steve Dale said Friday. He said the bank is cooperating with police and added, "I can assure you that no customer lost any money as a result of anything."

    The sheriff's analyst heard the conversation between the Hobbs siblings about one hour after Corey Hobbs had posted bail and been released, said Sgt. Joann Springer. How Candace Hobbs knew the credit card holder was in Jamaica and how she selected him is part of the investigation, and Springer declined to talk about them.

    Springer, who has worked at the sheriff's office for more than 28 years, said she had never seen a case like this.

    "They're getting more ingenious, unfortunately," Springer said.

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    Disqus for ePayment News