Spirit Airlines Launches New Credit Card

Spirit Airlines is introducing its “Spirit” credit card. Cardholders will earn 2 miles for every $1 spent on all purchases; 15,000 bonus miles after the first qualifying purchase; a 5,000 mile anniversary bonus with at least $10,000 in purchases and the annual fee; and are allowed to redeem miles at reduced levels for off-peak round-trip tickets – starting at 5,000 miles. Benefits also include domestic priority check-in, priority boarding, and miles that never expire as long as at least one purchase is made on the card each month.

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Commerce Bancshares Announces 1Q/10 Earnings

Commerce Bancshares announced earnings of $.69 per share for the three months ended March 31, 2011 compared to $.50 per share in the first quarter of 2010, an increase of 38.0%. Net income for the first quarter amounted to $60.5 million compared to $44.2 million in the same quarter last year while the return on average assets totaled 1.32%, the return on average equity was 11.9% and the efficiency ratio was 59.6%. Total assets at March 31, 2011 were $19.0 billion, total loans were $9.4 billion, and total deposits were $15.5 billion.

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Nets to handle Nordea Payment Card Transactions

Nets has forged agreements to handle Nordea Payment card transactions, covering more than 100,000 merchants with more than 425 million transactions a year. The main aspect of the agreement is card acquiring, which includes processing and related services. The agreement includes the development, implementation and migration of Nordea’s card acquiring for Sweden and Norway as well as taking over Nordea’s systems and work processes in the run-up to migration of Nordea’s data to CAPS, which is Nets’ Card Acquiring Processing System for handling merchant agreements in connection with card acquiring.

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Online merchants Show Growing Confidence

Almost 50% of online merchants have reported that their sales are up on last year so far, despite the VAT increase in January, according to research by SecureTrading independent payment processor. Approximately 10% of merchants have reported that sales are higher than expected, while 55% claim that sales are in line with their expectations. Meanwhile, half of the merchants surveyed have taken on the increased VAT cost internally rather than pass this onto the customers. However, 20% have said they do plan to pass these costs on in the next three months, while 52% have no plans to pass these costs on in the future whatsoever.

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Sybase and IBM Further Global mCommerce Opportunity

Sybase enterprise and mobile software has entered into a global agreement with IBM to target the mobile commerce opportunity with both hosted and on-premise solutions in developed and emerging markets. Sybase and IBM are already trusted and proven business partners for hundreds of the world’s enterprises, mobile operators and financial institutions. Under this agreement, IBM Global Business Services and Sybase 365 mCommerce team (Sybase 365 is a subsidiary of Sybase Inc.) will work together to extend their reach and meet the needs of even more clients.

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HID Global Introduces ID Card Personalization Software

HID Global secure identity has released its “Asure ID 7” card personalization suite of software. Building on the popular Asure ID 2009 software, Asure ID 7 features new navigational enhancements and advanced printing capabilities designed to simplify the entire process of card issuance from entry-level uses to more sophisticated secure credential applications. HID Global’s “Asure ID 7” is a complete line of card personalization software that is simple to learn and incorporates features to improve the issuance and management of photo IDs for any type or size of organization. The “Asure ID Solo” is loaded with useful features to improve the issuance and basic management of photo IDs; “Asure ID Express” offers affordable photo ID card software with advanced card design and batch printing capabilities; and Asure “ID Enterprise” workstations allow users to share a common database over a network in real time.

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USA Tech Processing Volume Up Exponentially 93% Y/Y

For the month of March 2011 USA Technologies processed 7.5 million small-ticket transactions worth $12.2 million for a 17% increase over February 2011 and a 93% increase over the year ago figure. The current processing volume rate is now approaching $150 million in annualized volume, a significant increase from the $100 million annualized run rate announced in September 2010, since which time processing volume has exploded to account for nearly half the processing volume of that entire quarter. The 3Q/10 processing volume itself was up by 89% to $24.5 million. This is thanks in large part to USA Technologies’ “JumpStart” program, allowing customers to implement the ePort cashless solution with no upfront investment. Slated to continue into the 2011 calendar year, “JumpStart” offers customers the “ePort G8” for contactless payments or “ePort EDGE” one-piece cashless reader and controller combo designed for quick installation.

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AmEx & Payfone Launch mCheckout Partnership

American Express has forged an alliance with Payfone mobile payment processing to create and power global mobile checkout. For it, Payfone will combine its mobile authorization and payment services with American Express’ “Serve” digital payments platform, allowing users to make purchases from online merchants using their mobile phone number at checkout. Consumers will be able…

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Visa Adds Compliance Management Tool

As part of its “IntelliLink” product suite, “Visa has launched its “IntelliLink Compliance Management” web-based solution for enhanced control, compliance and cost-savings for businesses using commercial card programs. The “IntelliLink Compliance Management” converts commercial card transaction data into information that card program managers at government agencies and private sector enterprises can use to minimize and…

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Bremer Bank Implements MasterCard Debit

Bremer Bank has converted its signature debit portfolio to MasterCard and will subsequently issue Platinum Debit MasterCard cards to its general banking customers, Debit MasterCard BusinessCard for business clients and World Debit MasterCardcards for private banking clients. With this, Bremer business clients now have access to increased purchasing flexibility, convenience and safety for all their business-related expenses, as compared to cash or checks. Meanwhile, the World Debit MasterCard cardholders now have access to World.MasterCard.com and MasterCard MarketPlace Plus with enhanced built-in security features and MasterCard Purchase Assurance(R) coverage against theft protection for greater peace of mind when shopping.

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Digital River E-commerce Fraud Patent

Digital River global e-commerce solutions has been issued U.S. Patent “Electronic Commerce System and Method for Detecting Fraud,” No. 7,881,972, for fraud detection technology for purchase order transactions processed by online stores. This compliments the Company’s fraud prevention solutions, such as the “Transaction Defender” fraud prevention service. The new technology uses transaction information given by customers during the online checkout process to make instantaneous fraud detection decisions, which it continually scans data points delivered from more than 150,000 Digital River hosted global online stores to reveal new risk patterns and trends in real-time and quickly identify and stop fraud attacks through one central action.

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