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Myanmar Mobile Money launches Mobile Money Services to expand financial inclusion

Oberthur Technologies announced on Wednesday that Myanmar Mobile Money Co. and Mobilemate Telecommunication launched Mobile Money Services in Myanmar as part of an effort to expand financial services to the unbanked. Mobile Money is the first national mobile money service in the country, offered in both English and Myanmar. It is based on... Read More...

European Union calls for progress on data protection reforms

The European Commission recently called for reforms that would modernize Europe’s 1995 data protection rules to improve online privacy rights and help the region’s businesses. Under the proposed reforms, a single set of rules would be applicable across the EU, thereby simplifying and standardizing the 1995 regulations that would have been... Read More...

Heartland files suit against Mercury Payment Systems over alleged illegal practices

Heartland Payment Systems filed a lawsuit against Mercury Payment Systems on Thursday, alleging the company is illegally competing against Heartland with false advertising and other deceptive trade practices. According to the suit filed in the U.S. District Court in the Northern District of California, Mercury is allegedly misleading merchant... Read More...

TSYS appoints two new members to board

Payment processing company TSYS announced on Wednesday the election of two new members—William M. Isaac and Connie D. McDaniel—to its board, bringing the total number of directors to 15. Isaac is the senior managing director and global head of financial institutions at FTI Consulting and a former chairman of the FDIC. Before joining FTI, he... Read More...

GAO: Many eligible borrowers do not take advantage of SCRA protections

A new report released by the Government Accountability Office this month found that while some servicemembers benefitted from the six percent interest rate cap under the Servicemembers Civil Relief Act, many eligible borrowers did not take advantage of the protection. The SCRA seeks to protect active eligible servicemembers in the event their... Read More...

Visa to allow companies to make B2B payments through SAP Financial Services Network

Visa announced on Thursday plans to allow client companies to pay through the SAP Financial Services Network, which is expected to help corporations automate and process invoice payments without the need for custom software. “Corporations have long sought to simplify integration with their financial providers and take advantage of new... Read More...

USPS IG: USPS expansion of financial services offerings could generate $9 billion

The U.S. Postal Service’s Office of Inspector General issued a white paper on Monday suggesting that the postal service could earn as much as $9 billion by offering financial services and products to underbanked customers. According to the white paper, more than 25 percent of all U.S. households are underserved—a total of 68 million adults... Read More...

AmEx to participate in KBW Cards, Payments Financial Tech symposium

American Express announced on Tuesday it plans to participate in the fourth annual Keefe, Bruyette & Woods Cards, Payments & Financial Technology Symposium next month. AmEx President Edward Gilligan will participate in the summit, which will be held in New York City on Feb. 10, as part of a question-and-answer session on the company’s... Read More...

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