Chase celebrates Small Business Week with incentives & solutions

To celebrate Small Business Week, Chase is offering small business customers $1,000 in incentives to expand their relationship during the week – and two exclusive eCommerce solutions to help run their businesses more effectively over the long run. These programs continue the momentum of Chase’s recent commitment to lend $12 billion to small businesses in 2011. Part of Chase’s strategy is to expand both its lending and deposit businesses through Small Business Week promotions such as the following $1,000 in savings, rebates and refunds:

New Business Checking account customers will receive $100 when they deposit $500 or more in their new account
Up to $250 off the origination fee for new loans/and annual fee for new loans/lines of credit originated this week
$200 cash back bonus for new Ink Rewards or Ink Bold credit card customers
$100 off cash bonus on Instant Storefront
Waived closing costs on owner occupied real estate loans, up to $250
$100 in credit for Google Adwords

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China Economic Index Up Full 1% in March

The Conference Board Leading Economic Index(LEI) for China increased 1.0% in March to 157.0 (2004 = 100), following a 0.3 percent increase in both February and January. Four of the six components contributed positively to the index in March. Meanwhile, the Conference Board Coincident Economic Index (CEI) for China was up 1.6% in March to 199.6 (2004 = 100), following a 0.3 percent increase in both February and January. Three of the five components contributed positively to the index in March. The Conference Board LEI for China aggregates six economic indicators that measure economic activity in China.

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Anoteros Announces Financial Institution Agreement to Expand Rural Banking E-Commerce

Anoteros announced an agreement with Infoserve of the Philippines to establish systems services and branding for ATMs, electronic funds transfers, point-of-sale systems and debit cards primarily in the provinces, which largely do not enjoy the electronic banking/e-commerce services available in urban areas. Work will be performed through the Anoteros wholly-owned subsidiary, Antero Payment Solutions, Inc. Duties include system hosting, system upgrades, personnel training, 24/7/365 service maintenance and systems backup nightly. Infoserve may contract for additional services of ATM Assure for check/debit verification, Antero Check Verification for bad check historical experience and ID Assure for personal identification.

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ICICI BANK & SAMPATH BANK Implement Remittance

ICICI Bank Limited (“ICICI Bank”), India’s largest private sector bank, announced the launch of Money2SriLanka (M2SL), an online remittance tracking facility in collaboration with Sampath Bank PLC. ICICI Bank has a presence in Sri Lanka through its branch office in Colombo. M2SL is a web-based online remittance tracking platform which facilitates remittances from various geographies to beneficiaries in Sri Lanka in a convenient, speedy and economical manner. This service will be piloted in Canada and the United Kingdom and will shortly be rolled out in Australia, USA, South East Asia and the Euro Zone in the second phase. ICICI Bank has been one of the leading players in the Indian remittance market and its proprietary online portal, Money2India.com is a popular service used by Non Resident Indians.

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Chargeoffs & Delinquencies Fall to Two-Year Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] April delinquencies and chargeoffs have plummeted since last month figures and the free fall is showing no signs of slowing. Fitch Ratings’ Credit Card Performance Indix’ 60+ day delinquency dropped below 3% for the first time in three years to 2.93% after declining 18 basis points from the prior month. Delinquencies…

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Consumers Step Up Monthly Payment Rate

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In tandem with plummeting chargeoffs and delinquencies, the Monthly payment rate (MPR) accelerated for the third straight month in April by nearly 2% from 19.21% to 21.72%. The Index shows consumers are paying back their cards more quickly, which Fitch expects to remain high as more consumers transact and make on…

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Hypercom Launches Next Generation Network Technology

Hypercom Corporation has made available its “IntelliNAC” high-density, multifunction POS network access controller. Speeding transactions for financial institutions, merchants and other entities whose businesses benefit from processing large volumes of payment transactions securely, “IntelliNAC” builds on Hypercom’s secure networking technology, which benefits high-performance transaction networks, routing billions of transactions daily for hundreds of financial institutions worldwide. The “IntelliNAC” system authenticates transactions via Public Key Infrastructure standards required for PCI-DSS compliance and does so in multiple secure zones, meaning that the public key or certificate is never exposed. It also lets acquirers and processors control end-to-end transaction transport on their own, thus eliminating the need to employ multiple third-party vendors and allowing ISOs to deploy quickly and securely their terminals and services to the field.

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Aptys Solutions Launches Mobile Payment Solution

Aptys Solutions payments network provider announced at FinovateSpring 2011 its “Aptys Mobile” (aMobile). Allowing banks’ business customers to create invoices, accept payments and process invoices directly through a mobile phone or tablet device. In tandem with Aptys’ “PayLOGICS” payment hub, “aMobile” provides financial institutions access to a full payment integration solution allowing businesses to electronically manage the entire supply chain process from point of sale through posting in their accounts receivable system via a mobile phone or tablet device. In doing so, it creates an end-to-end payment process to support mobile receivables from invoice creation, payment processing and back-end accounting, allowing the business to manage payments from any location.

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Mocapay Unveils mWallet Payment Card Integration

Mocapay announced the integration of association branded cards into its mobile wallet through VeriFone “PAYMEDIA.” Mocapay merchants will benefit from an additional payment type, the ability to learn critical demographic information about their target consumer, and the ability to engage one-on-one with their customers through Mocapay’s integrated mobile marketing database. Customers using a Mocapay mobile wallet at participating Mocapay enabled merchants will have the ability to connect their association branded payment card to their existing mobile gift and mobile loyalty accounts. This not only creates an additional tender to transact with at a merchant’s point-of-sale, but now allows customers to use their preferred tender while continuing to participate in merchant specific loyalty programs – all through thei mobile phone.

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Visa to Deploy New Digital Wallet in Fall 2011

Visa electronic payments kicked off its new payments solutions to replicate Visa POS payments within traditional and digital eCommerce, mobile commerce and social networking commerce environments. These will include a secure cross-channel digital wallet and a range of customized mobile payments services that address the specific requirements of geographic markets around the world, namely on the Association’s digital wallet and services platform. This platform will store Visa and non-Visa payments accounts, support NFC payments through the innovative Visa payWave application and deliver a wide range of transaction services for eCommerce, mobile commerce, micropayments, social networks and person-to-person payments. It is already slated to serve customers of Barclaycard US; BB&T Corporation; Card Services for Credit Unions (CSCU); ICBA Bancard; Nordstrom fsb; Pentagon Federal Credit Union; Scotiabank; TD Bank Group (US and Canada); and US Bank, to name a few. Visa expects to launch the digital wallet in the U.S. and Canada in fall 2011.

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Mobile NFC Patent Granted to DeviceFidelity

DeviceFidelity plug and play mobile payment and contactless technologies NFC mobile device accessory patent has been granted by the US Patent and Trademark Office (USPTO). U.S. Patent No. 7,941,197 covers a unique approach for bringing secure NFC functionality to highly coveted mobile devices such as the iPhone. DeviceFidelity continues to spearhead the availability of certified NFC mobile devices with implementations globally at top tier financial institutions, payment networks and mobile carriers. DeviceFidelity’s solution is consumer centric and is the only mobile contactless payment technology to be commercial approved by Visa, Inc.

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