Mitek extends remote deposit

Mitek's ImageNet Mobile Deposit extends remote deposit to 100 million camera-equipped mobile phones, says ThomasNet.

Mitek will demonstrate ImageNet Mobile Deposit at the BAI-TransPay show, beginning 5 February in Dallas, at the Gaylord Grapevine Resort.

Mitek's ImageNet Mobile Deposit supports the payments industry standards for remote cheque deposit, and extends mobile payments and deposit capabilities to millions of consumers who use camera-equipped mobile phones.

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The number of outlets accepting plastic for payments is set to grow more than 150%, with the State Bank of India (SBI) planning to add half-a-million point of sale (POS) terminals in the country in three years, says The Economic Times.

The bank has issued a participation request for a proposed joint venture company that will install these POS terminals. Royal Bank of Scotland, First Data Corporation of the US, and a consortium led by Financial Technologies are understood to be the companies interested in partnering SBI for this venture.

The three potential partners are expected to submit their bids this month. The bank is looking at setting up a subsidiary, as this will enable it to bring in a technology partner that has the expertise for the business.

Yucheng Technologies' POS merchant acquiring team has won The Most Outstanding Performance Award from China Merchants Bank (CMB), for providing POS merchant acquiring services to 8 900 new POS terminals in 2007, says Fox Business.

This result compared favourably with the company's original target of 7 000 POS terminals. Yucheng initiated POS merchant acquiring services with China Merchants Bank in early 2007 and has become China Merchants Bank's largest third-party merchant acquisition provider.

Yucheng's merchant network deployment for CMB in 2007 exceeded the combined deployment of the next three largest third-party providers during the same period. The Most Outstanding Performance Award reflects China Merchants Bank's recognition of Yucheng's superior performance in this important new growth area.