Economic Index Up .5%, Coincident Down .3%

The Conference Board Leading Economic Index (LEI) for Mexico increased 0.5% and The Conference Board Coincident Economic Index (CEI) decreased 0.3% in April. The six-month change in the leading economic index stands at 3.3% (a 6.8% annual rate) in the period through April 2011, up from -0.1 percent (a -0.2 percent annual rate) for the previous six months. However, the strengths among the leading indicators have become less widespread and the number of components rising has been only slightly more than those falling in recent months. Between October 2010 to April 2011, the coincident economic index increased 1.5 percent (a 3.0 percent annual rate), slightly below the increase of 1.7 percent (3.5 percent annual rate). The Conference Board CEI for Mexico, a measure of current economic activity, fell this month, although it has been on a general upward trend since mid-2009. Positive contributors include US refiners’ acquisition cost of domestic and imported crude oil and the (inverted) real exchange rate.

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Logic Group and Pennies Offer charity donations at POS

The Logic Group payment provider announced through the Pennies electronic charity box, its existing and new clients can offer consumers the opportunity to donate small change at the POS when paying by card. This allows them to significantly magnify their own corporate responsibility impact by choosing the charities to benefit from the majority of the funds raised. With more than 476,000 consumer donations have been made raising over GBP110,000. The Logic Group is providing the payments software within the POS and Pin Entry Device (PED), making the service available to all of its retail customers either on existing or forthcoming PCI DSS compliant payment solutions.

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FICO and Efma Show Changing Relationship Bank-Consumer Relation

FICO and Efma announced the results of the second European Credit Risk Survey, showing changes in the relationship between banks and borrowers, and a growing optimism for credit performance that is muffled by continuing struggles in mortgage markets. Conducted by FICO and Efma in May with risk professionals in Europe, asked participants for their forecast over the next six months, showing customers are more concerned with service, more reluctant to borrow or use credit, and more interested in building their savings; risk manager responses reflect greater optimism with regard to delinquencies than in the prior survey overall, yet still project troubling trends for mortgages and current account overdrafts; credit supply and demand appear to have become more balanced, suggesting both a reduction in credit demand by cautious consumers and an increase in credit supply spurred by stimulus programmes and increased lender optimism; and more than 40% disclosing consumers will pay their credit card ahead of other obligations.

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Optimal Payments improves payment processing

Optimal Payments alternative payments business launched its “NETBANX 6” payment processing service, providing payment processing for many leading eCommerce businesses. The “NETBANX 6” specifically addresses the needs of merchants in the rapidly changing eCommerce market including customer and cardholder data security and protection, as well as shopping cart conversions, multinational cross border payments and reduction of operational costs. This lets businesses completely outsource the holding of private customer data to the PCI-DSS level 1 certified NETBANX service, subsequently reducing risk of holding them on their servers. Other capabilities improve a merchant’s operational flexibility or decrease costs, including new batch processing features, an automated report delivery service, and a new back office user experience.

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Accusol rollsout accurate processing

Accusol Technologies global enterprise solutions’ background in developing business softwares for clients across the globe now allows it to offers wide range of solutions and services catering to Small and Mid-sized Enterprises across diverse industry sectors. These solutions include ERP, CRM, and Payroll, Retail & POS systems besides tailor-made solutions for different industry verticals. This addresses process and reporting requirements in Financial Accounting, Sales and Distribution, Procurement, Inventory Management, Manufacturing and Quality Control and Maintenance. Its “eLitePOS” comes with a wide range of functions from Front-office sales/order booking to complete back-office integration and control which enables you to enhance efficiencies of your staff as well win the heart of your customers leaving competitors far behind.

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Paymotech Partners With Mediamatic Ventures

Paymotech’s Paytoo international mobile platform continues with large-scale ecommerce development by partnering with Mediamatic Ventures. Paytoo service provides mobile customers with access to the latest mobile technology, mobile payment, mobile transfer, NFC, and POS payment through the Paytoo switch. Through its partnership with Mediamatic Ventures, non-banking customers will now be able to rent movies and videos instantly and securely using their Paytoo mobile wallet account at convenient media kiosks. Paytoo’s rapid growth reinforces the company’s commitment to deliver brand innovation to an ever-growing mobile community.

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Euro ATM EMV rollout nears completion

The European ATM Security Team (EAST) has just released a chart showing the impact on ATM related skimming losses of the rollout of EMV (Chip and PIN) at European ATMs, indicating ATM related skimming losses dropped since the 2007 high point. Domestic issuer losses fell by 63 percent from EUR62 million during the first six months of 2006, to a low of EUR23 million during the second six months of 2010. International losses increased by 201% in 2007 from EUR93 million during the first six months of the year, to EUR280 million during the second six months.

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Mass Layoffs Lurch Upward 2% M/M in May

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Mass layoffs sent 143,540 workers packing in May- based on new filings for unemployment insurance benefits- as employers made 1,599 pink slip disbursements. The number of these disbursements was up a total of 35, or 2%, from the April figure of 1,564. Meanwhile, 373 of mass layoff events were in the…

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Chase Upgrades Amazon.com Rewards Visa Card

Chase Card Services and Amazon.com launched a feature on the Amazon.com Rewards Visa Card that provides cardmembers the opportunity to use rewards points to pay on Amazon.com. Cardmembers may now use Amazon Shop with Points to redeem rewards points at checkout. Each point cardmembers earn can be redeemed for one cent, meaning 100 points can be redeemed for one dollar. The Amazon.com Rewards Card from Chase offers cardmembers three points for every $1 spent on Amazon.com purchases; two points for every eligible $1 spent on gas, restaurants, drug stores and office supply stores; and one point for every $1 spent everywhere else. There is no expiration date on points and no cap on the number of points earned.

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Major ATM Networks Certify NCR Deposit TechnologySDM

NCR Corporation furthered the adoption of its “Scalable Deposit Module” (SDM) technology, making automated deposits at the ATM twice as fast, with major ATM networks having completed SDM certification testing. Establishing the new technology as compatible with key software systems, this step confirms banks are gravitating toward SDM because it offers much quicker ATM transactions. Consumers can deposit up to a total of 50 checks and notes in a single bunch with SDM, which works with the NCR SelfServ 30 series of ATMs. Since introducing SDM in the U.S. in October 2010, NCR customers have placed orders for nearly 7,000 units.

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American Express and foursquare Debut Partnership

American Express and foursquare officially partnered, allowing American Express Cardmembers who link their foursquare profiles to their cards to “load” and seamlessly redeem merchant Specials without the need for coupons, special codes, or showing their mobile devices to cashiers. Powered by the American Express Smart Offer APIs, is the first time this technology has been used to allow cardmembers nationwide to take advantage of merchant Specials offered through foursquare in this easy and straightforward way. Cardmembers just visit the secure registration page on the American Express website, link their card to their foursquare profile in order to discover exclusive American Express Specials at foursquare venues, check in to the selected merchant and simply “load” the special to their card. The American Express closed-loop network, which allows the company to directly connect merchants and cardmember spend, lets merchants measure the success of their location-based marketing efforts.

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ABA Joins Push for REASONABLE CREDIT REQUIREMENTS

The American Bankers Association released a statement to the Senate on its position regarding consumer lending. In it, it referenced “The Dodd-Frank Act required regulators to establish a QRM category of loans that would be exempt from risk retention requirements once they are determined to be well-underwritten, low-risk, and high-quality. Unfortunately, the proposal set forth goes far beyond what Congress intended, mandating a minimum 20 percent down payment and severely narrow credit history requirements, restrictions that will shut the door to home ownership for many otherwise qualified buyers. ABA supports sound underwriting and responsible lending practices, and our members work diligently to make responsible credit available to qualified borrowers on fair and reasonable terms. The proposed QRM goes too far in restricting credit, which will harm borrowers and the nation’s fledgling economic recovery.”

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