Payment news, November 2

Western Union expands transfer services via mobile, while the Tokyo Stock Exchange chooses Calypso's treasury and risk management platform.

Santos chooses SunGard’s AvantGard

Australia-based oil and gas exploration and production company Santos has chosen to implement SunGard’s treasury solution AvantGard to support treasury and risk management. The solution will provide Santos with a consolidated platform for all treasury, risk and cash management-related operations globally.

“Corporate treasurers are currently challenged by demands to improve efficiencies, while keeping operational and staffing costs down,” said Paul Bramwell, senior vice-president of treasury solutions for SunGard’s AvantGard business unit, in a statement. “AvantGard Treasury helps companies meet these objectives by helping automate common and repeatable treasury processes throughout the front, middle and back office, and helping improve the accuracy of data by bringing together information stored across disparate systems.”

Western Union expands mobile transfers in Philippines

Global money transfer and payment service provider Western Union has announced a partnership with Globe Telecom and Smart Communications in the Philippines to allow its customers to send money through its agent locations to subscribers of the two mobile companies.

“The Western Union mobile money transfer service is a key part of our multi-channel strategy to offer our consumers numerous ways to send and receive money,” said Khalid Fellahi, head of mobile transaction services at Western Union, in a statement. “By continually expanding the number of locations where overseas Filipino workers can send funds to their loved ones’ mobile phones, we believe we are making it more convenient for our consumers in the Philippines to receive funds how, where and when they want.”

Calypso selected for credit default swap clearing platform

The Tokyo Stock Exchange Group (TSE) has chosen Calypso to provide the platform for its new credit default swap (CDS) clearing system. Japanese Securities Clearing Corporation (JSCC) will be providing the CDS clearing system for TSE.

“Throughout the crisis, we saw increased demand from our clients for enhanced risk management capabilities and back office processing services such as settlements and payments,” said Kei Miyazato, head of the IT business department at TSE, in a statement. “Providing central counterparty clearing for CDS and CDS indeed in Japan is a much required service. Our vision is to provide a proficient, advanced market standard solution that achieves the goal of reducing counterparty risk.”

EastNets announces new partnership and new mobile remittance solution

EastNets, a global compliance and payments solutions and services provider, has launched a pilot implementation of its new mobile remittance solution, en.MoRe, in Vietnam. The solution allows Vietnamese expatriates to make money transfers through their mobile phones through VietinBank to recipients.

“The new en.MoRe service is a great value-added offering to people who regularly send money to their home countries,” said Hazem Mulhim, chief executive of EastNets, in a statement. “EastNets is pleased to work with VietinBank for the pilot implementation of en.MoRe as our partnership enables us to reach out to a greater number of consumers.”

EastNets is targeting India, Pakistan and the Philippines next with its new solution.

Additionally, EastNets has announced a new partnership with Bics, a global voice, messaging, roaming, connectivity and mobile financial services provider, to connect en.MoRe to Bic’s HomeSend solution.

“EastNets en.MoRe solution delivers great value to our HomeSend customers who can already send mobile-to-mobile transactions,” said Frederic Schepens, senior vice-president at Bics, in a statement. “With this partnership we essentially bring a mobile hub together with a bank hub to create a unique solution that allows our HomeSend customers to transfer money from their electronic wallet to a bank where it can be collected as cash.”

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