J.P. MORGAN Appoints COMMERCIAL CARD BUSINESS Head

Andrew Pilkington will assume leadership responsibilities for JP Morgan’s Commercial Card business, which provides travel and entertainment card, purchasing card and single-use account solutions to thousands of private and public sector organizations around the world. He has also been designated the interim Principal Officer for JPMorgan Chase Bank, N.A.’s Canadian branch and President of J.P. Morgan Bank Canada and will continue to act as the Chairman of the Canada Management Committee. He led the growth of the business as chief executive officer of Chase Card Services Canada, which itself has introduced the Marriott Rewards Platinum Visa Card, the Chase Gold MasterCard, the Best Buy Reward Zone Visa Card, the Best Buy Card and the Future Shop Card.

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MoneyGram now offers remittance direct to BDO account

Beneficiaries with accounts in BDO Unibank can now receive remittances straight to their bank accounts following a recent agreement with MoneyGram. Through its “BDO Remit” remittance service, BDO expanded its credit to BDO account service in selected MoneyGram outlets in the US, Singapore, Brunei and Greece, which will soon be launched in MoneyGram locations worldwide to heighten convenient access and allow beneficiaries to receive remittances the fastest way possible. Apart from offering credit to BDO account in MoneyGram outlets, money senders may also remit online through www.emoneygram.com. Once the money has been credited to a BDO account, the client may claim his/her remittance from any of the more than 1,400 BDO ATMs or from over 10,000 Expressnet, Megalink and Bancnet ATMs nationwide.

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VeriFone Provides Managed Services Pay-At-The-Table

VeriFone Systems forged agreements to supply a managed services pay-at-the-table solution to the Rossopomodoro restaurant chain in Italy with its Wi-Fi enabled VeriFone “Vx 670” mobile payment acceptance systems through its “PAYware Express” gateway service. This allows staff to accept payment at the table, with check amounts automatically generated from the restaurant chain’s existing POS system. VeriFone managed services programs incorporate hardware, software, security and services into one cost-effective, secure and easy-to-budget solution that improves efficiency of servers and counter clerk and enhances the overall customer experience.

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XLN acquires Card Processing Solutions

XLN acquired Card Processing Solutions card processing services for UK small businesses. A significant number of XLN’s 125,000 SME customers currently use card processing services connected via fixed lines, with a growing proportion using GPRS connected terminals. Card Processing Solutions provides low cost card payment terminals and payment solutions to SMEs who need to process credit and debit card transactions – retailers, hotels, restaurants and online merchants. Working in partnership with major banks and card terminal providers, CPS offers a comprehensive range of reliable solutions that meet the card processing needs of most businesses.

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CHARGEOFFS DOWN, BANKRUPTCIES UP

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] While U.S credit card defaults are now at the lowest level since early-2008 while delinquencies are at the lowest level in four years, consumer bankruptcies jumped 4% from the May 2011 consumer bankruptcy total of 114,803 filings to 119,768, 5% greater than the year ago figure of 126,270 filings. The Fitch…

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Citigroup 2Q/11 Net Income Up $.6B Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citigroup reported second quarter 2011 net income of $3.3 billion, or $1.09 per diluted share, on revenues of $20.6 billion. Second quarter net income grew 24% from the prior year period and 11% from the first quarter 2011, while net revenues were 7% lower versus the prior year period and 5%…

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Amalgamated Bank Implements FIS Card Processing, Loyalty & Fraud Prevention

Amalgamated Bank of Chicago has signed a five-year agreement for several FIS card processing and fraud protection solutions, enhancing its customer experience as well as its consumer and commercial card processing and fraud prevention capabilities. With this, Amalgamated Bank selected FIS’ “Base2000,” “ScoreCard,” FIS card personalization and fulfillment, FIS “Secured,” “COMPROMISE MANAGER,” Merchant Processing and Fraud Alert Management to ultimately enhance its ability to provide personalized card services and quickly deliver new financial solutions.. The “ScoreCard” card loyalty solution has proven to increase card acquisition, activation and usage of both credit and debit card programs by members.

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Discover Card Website Tops in Customer Experience

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Discover announced it has been awarded first place in Best Overall Customer Experience for prospects in the 2011 Keynote Competitive Research Industry Study of U.S. credit card marketing websites. “As Discover continues to grow in the direct banking industry, we will continue to pay close attention to the online experience and…

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M&T Bank to buy HSBC data center

M&T Bank is set to purchase a building in Amherst, New York from HSBC, which it will then convert to its primary data center, then retrofit its current data center, located on Commerce Drive in Amherst, into additional office space. M&T said it will invest more than $105 million to improve and equip the two buildings over the next 10 years if the purchase goes through. M&T also would locate approximately 75 new jobs and retain 45 existing jobs in Amherst as a direct result of this investment. Some of those jobs will be located at the new data center, while others will go in the Commerce Drive location. M&T Bank already employs 1,314 people at two major operations centers and nine branch locations in the Town of Amherst. Across Western New York, M&T has approximately 5,000 employees, operates 84 branch office locations and owns and/or occupies nearly two million square feet of commercial real estate.

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Bank of Internet introduces Advances Branch-less Banking

Bank of Internet USA introduced “MyDeposit,” allowing customers to deposit checks from their home or office using a variety of scanning devices. Offered free of charge to Bank of Internet customers, “MyDeposit” requires a personal scanning device and a registered Bank of Internet account. To deposit checks using a scanner, Bank of Internet customers should visit bankofinternet.com and log into their accounts. Choose MyDeposit, select the account into which the deposit should be made, endorse the check, enter the amount and scan both sides of the check.

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InfoTouch adds Age Verification to POS Software

InfoTouch Corporation has deployed its optional add-on module that is compatible with InfoTouch touch screen convenience store POS software, incorporating the new Honeywell’s EasyDL age verification handheld scanners. Honeywell’s Easy DL scanners are now available on InfoTouch’s touch screen convenience store POS software. All merchants currently utilizing InfoTouch’s touch screen convenience store POS software can benefit from hand held scanners integrating Honeywell’s new age verification enhancement by scanning the driver’s license. The InfoTouch touch screen convenience store POS software now is providing this advanced feature available for thousands of our merchants throughout the US and Canada.

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Best Credit Cards in America Announced

Credit.com consumer education and financial resource website announced the winners in the second installment of its best-in-class series, “The Best Credit Cards in America.” This installment features Credit.com’s picks for the “Best Student Credit Card” and the “Best Secured Credit Card.” BEST STUDENT CREDIT CARD goes to the Discover Student More Card, built with Discover’s CardBuilder tool (Harzog used CardBuilder to create a student card with up to 5% rewards and a 12-month 0% intro rate), followed by 1st Runner-up PenFed Visa “Platinum Cash Rewards for Students” and 2nd Runner-up, “Journey Student Rewards” from Capital One. Meanwhile, BEST SECURED CREDIT CARD goes to Orchard Bank Secured Credit Cards, followed by 1st Runner-up, Navy Federal Credit Union “nRewards Secured Credit Card” and 2nd Runner-up, Citi Secured MasterCard.

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