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Online News Archive

News Editor: Leslee Mason email Leslee

This page will be updated bi-monthly. For current news, visit our home page

September-October 2010

Verizon Business identifies 10 key trends changing
the face of the financial services industry

October 21, 2010--Technological advances, regulatory changes and blurring lines between professional and personal lifestyles will significantly shape the financial services industry’s landscape throughout the next decade. Verizon has identified 10 emerging trends that are key factors in this transformation, and that will create an even stronger focus on advanced security measures within the industry.

The industry perspective, “Top Ten Trends of the Decade in Financial Services,” written by Chandan Sharma, global managing director of Verizon Business’ financial services practice, identifies the trends that will likely reshape the way financial services firms conduct business in the future. Read the article



Desjardins sees future in mobile banking


By Robin Arnfield, News Editor


October 15, 2010--Lévis, Québec-based Desjardins Group has launched a set of mobile banking and insurance services for smartphone and PDA users. While Desjardins is providing a mobile banking application for Apple iPhone users to download, it says the new services can be used on any web-connected mobile device including as well as on Android-based phones, the iPod Touch and the BlackBerry. Read the article


Xsilva offers mobile POS payments on iPod Touch

By Robin Arnfield, News Editor

October 14, 2010--Montreal, Quebec-based Xsilva Systems has launched LightSpeed Mobile, a wireless version of its Apple Mac-basd LightSpeed point-of-sale system.

LightSpeed Mobile enables retail staff to take customer orders within a store and accept credit card payment by using a specially-adapted Apple iPod Touch. “The solution will also work with an iPhone,” Dax Dasilva, founder and CEO of Xsilva Systems, tells Payments Business. “But from a security viewpoint, it’s better to use an iPod Touch, simply because the only network capability it has is Wi-Fi. By contrast, an iPhone is a 3G phone that can connect to any mobile data network, which poses a greater risk.” Read the article


Datatel, Trustwave to help call centres comply with PCI DSS

October 14, 2010--Datatel Inc., a leader in hosted Interactive Voice Response (IVR) solutions, has partnered with Trustwave to provide Payment Card Industry Data Security Standard (PCI DSS) compliance validation solutions for its call center clients. Trustwave is a leading provider of PCI DSS compliance solutions that service providers of all industries can offer to their clients.

PCI DSS is a requirement for all entities that store, process, or transmit cardholder data and has been endorsed by all of the major card brands, including Visa Inc., MasterCard Worldwide, Discover Network, American Express, and JCB. Read the article


Sobeys teams up with BMO for co-branded cards

By Robin Arnfield, News Editor

Canadian grocery store chain Sobeys has appointed BMO Bank of Montreal as its retail financial services partner, replacing an earlier relationship with Citi. As part of the deal, Sobeys and BMO have launched two co-branded rewards-based MasterCard credit cards, one in Atlantic Canada and the other in Ontario and Western Canada. A third co-branded Air Miles MasterCard will be launched in October in Quebec, David Heatherly, BMO’s VP payments products, personal and small business, tells Payments Business. Read the article.

ING Direct launches no-fee chequing account

By Robin Arnfield, News Editor

September 26, 2010--ING Direct Canada, the Internet- and telephone-only bank owned by ING of the Netherlands, has announced THRiVE, a no-fee chequing account. The bank has sent out emails to 10,000 of its existing customers inviting them to try out the new account. Read the article


Western Union in alliance with EnStream

By Robin Arnfield, News Editor

September 24, 2010--Western Union has announced a strategic alliance with EnStream, the Canadian developer of the Zoompass Mobile Wallet, which will enable Zoompass users to send cross-border and Canadian domestic money transfers directly from their cellphones.EnStream is a mobile-commerce joint venture between Bell Canada, Rogers Communications and Telus, Canada's three largest wireless operators. Zoompass offers Canadians a way to send, receive and request digital currency within Canada using their cellphones. Read the article


One in five Canadian consumers victimized by deceptive marketing, Visa says

By Robin Arnfield, News Editor

September 24, 2010--A survey conducted on behalf of Visa Canada has found that, despite being aware of misleading marketing practices, Canadian consumers are still falling prey to deceitful behaviour. The survey of 1,013 Canadians was conducted by Ipsos Reid between July 8, 2010 and July 15, 2010. It found that 20 percent of credit cardholders have been a victim of unauthorized charges on their credit card as a result of an offer they accepted online or over the phone. Read the article


hyperWALLET launches international prepaid card products

by Robin Arnfield, News Editor

Septemver 20, 2010--hyperWallet has entered the international prepaid card market with offerings in the US and Mexico. “We originally developed our prepaid card technology platform in 2004, and then launched our first Canadian prepaid card with our partner Alterna Bank in 2005,” Bill Crowley, hyperWALLET’s vice president of product development, tells Payments Business. Read the article


Canadian banks need to enhance cash management offerings

By Robin Arnfield, News Editor

September 14, 2010--Canadian banks’ cash management platforms are at a technology crossroads, and need to modernized if foreign entrants are not to dominate the market, says a report from U.S.-based consultancy Aite Group. The ‘Trends in Canadian Cash Management: A Technology Crossroads’ study is based on Aite Group interviews with the six largest Canadian banks as well as with HSBC and Citigroup’s Canadian operations. Read the article.


BMO integrates corporate card data with IBM platform

September 14, 2010--BMO Bank of Montreal has partnered with IBM to enable T&E (travel and entertainment) expense data from BMO and Diners Club corporate cards to feed automatically into IBM’s Global Expense Reporting Solution (IBM GERS).

“BMO has a very large number of corporate cardholders,” says Terry Wellesley, Executive Managing Director & Group Head of BMO Spend and Payment Solutions. “We offer both corporate MasterCards as well as Diners Club corporate cards.” Read the article

VersaPay signs five-year EFT contract renewal with Brewers Distributor Oct 27, 2010

Banorte selects March Networks solution in $1.2 million deal Oct 26, 2010

Equifax expands b2b credit, targeting services Oct 26, 2010

VeriFone, Gemalto forge strategic partnership, in talks to sell POS system Oct 19, 2010

TNS high-speed wireless ATM link goes 3G Oct 19, 2010

Interac ICA program expands to most ABMs in one year Oct 18, 2010

RDM adds new reseller partner Oct 18, 2010

Visa rolls out first debit products in Canada
Oct 18, 2010

Amex Canada offers innovative travel rewards card Oct 15, 2010

Improving working capital widespread European concern Oct 13, 2010

Sage, Ingenico partner on capabilities for SMBs
Oct 12, 2010

March Networks tops 400 global financial customers
Oct 4, 2010

Datacap EMV support for Canadian payment processors Sep 30, 2010

Western Union, Laurentian bank, renew agreement
Sep 28, 2010

More shoppers online, more orders, StatsCan survey shows Sep 27, 2010

New mobile payment gateway from Canadian firm Sep 27, 2010

Visa Canada, issuers, postpone chip liability shift Sep 24, 2010

MasterCard announces extension of chip and pin timeline Sep 24, 2010

Pivotal announces stellar results for mid-2010 Sep 24, 2010

Review shows focus on international outsourced debt collection Sep 22, 2010

ATMIA publishes best practices for preventing card trapping Sep 21, 2010

Moneris signs up for Inetco platform Sep 20, 2010

VeriFone PAYware Mobile for iPhone comes to Canada
Sep 15, 2010

Mastercard appoints new Canadian president Sep 14, 2010

Surcharge-free ATM network migrates to EMV Sep 14, 2010

Metro rolls out new reward program in Quebec
Sep 14, 2010

Ria offers remittances via Cash Store Financial Sep 14, 2010

CIBC completes purchase of Citi's Mastercard assests
Sep 2, 2010



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