SCM Microsystems Delivers China Unicom Smart Card Readers

SCM Microsystems solutions for secure access, secure identity and secure exchange and a business unit of Identive Group announced its second delivery of high speed “SCR3310v2” reader/writers to China Unicom mobile service. China Unicom has deployed more than 90,000 SCM reader/writers to facilitate SIM card issuance to its mobile phone customers across China and is using the SCM reader/writers in point of sales kiosks, stores and retail shops to quickly personalize a SIM phone card for each subscriber on the spot. Responding to the increasing demand for instant personalization of SIM cards at issuance, China Unicom has recently expanded its RPS (remote personalization system) program to its partners’ retail shops and point of sales, which are now also enabled with SCM readers.

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Consult Hyperion Unveils Role in TfL Contactless Scheme

Consult Hyperion independent consultancy contactless smart cards and mobile devices is unveiling in its partnership with Transport for London (TfL) its role to allow transport network passengers access with just a tap of their contactless payment card. Consult Hyperion is helping to bring together the disparate systems of payment scheme providers in transit and retail, as well as card issuers and terminal technologies, in order to ensure that the new scheme will be viable for TfL in terms of the technology and identifying and meeting the security requirements. With this, customers can ‘touch in’ with their contactless credit and debit cards on TfL’s public transport network of tube and buses, just as they already can when making low value purchases in many coffee shops and other retail outlets.

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Card Chargeoffs Decline, Bankrupcties Explode

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In keeping with more than year-long improvements, U.S. consumer credit quality held steady with the Fitch Chargeoff Index declining in February for the fifth consecutive month of improvement by another 32 basis points (bps) to 8.05%. Meanwhile, defaults are at the lowest levels since February 2009, down 29% since the year…

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Credit Card MPR Declines 44bps to 20.37%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The credit card monthly payment rate (MPR) went against the grain in February, indicating signs of decline by 44 bps to 20.37%. Although this is 26% higher than the historical average of 16.20%, it shows the second straight month of decline after hitting 14.66% in December and follows a 31 month…

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eWise Creates SVP Marketing Advisory Council

eWise payments and online financial management solutions provider is proposing executive nominations to its “Secure Vault Payments” Marketing Advisory Council with support and participation from NACHA Electronic Payments Association. Secure Vault Payments is an alternative payment option that offers convenience and security for consumers, allows institutions to receive money faster, and helps keep costly and wasteful paper out of the system. Its Council will work to share industry insights and experience to maximize awareness for Secure Vault Payments and ensure the effectiveness of the payment type. Those selected will become the founding members of the Council, which will be comprised of up to 20 members representing financial institutions, merchants, billers and gateway service companies.

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USA Technologies To Raise $10.7mm In Common Stock

USA Technologies wireless, non-cash transaction network has signed a securities purchase agreement with institutional investors to purchase $10.7 million of common stock in a private placement. Under the terms of the transaction, the Company has agreed to sell an aggregate of 5,200,000 shares of its common stock at $2.064 per share and warrants to purchase up to 3,900,000 additional shares in the aggregate of its common stock. The warrants will be exercisable commencing on the 6 month and 1 day anniversary of the closing date at an exercise price of $2.6058 per share and will have a five-year term commencing on the initial exercisability date. The completion of the offering is subject to the satisfaction of customary closing conditions and is expected to close on or before March 24, 2011.

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8 Million Credit Card Accounts Inactive

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] There are currently eight million inactive credit card accounts in the U.S. today thanks to a 24.6% slide in U.S. credit card delinquency rates, mostly in the “high risk” category. However, consumers with higher incomes were just as likely as consumers with lower incomes to suspend their use of this payment…

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Card Rates headed Upward Once Again

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Lately, rate reductions are mostly only seen by consumers who have a higher than normal interest rate on the card, but have built a better credit history. As time goes on and cardholders remain in a positive credit position, subsequent decreases are rare. But any losses that banks may sustain in…

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2Checkout Expands International Reach, Adds 13 Currencies

2Checkout.com has added an additional 13 international currencies, for a total of 30 supported currencies, to its safe, secure, and convenient hosted payments platform.The newly added currencies include the Singapore Dollar, Russian Ruble, and Ukrainian Hryvnia. This expansion will help provide merchants with greater access to well-established and developing markets while consumers in these markets will now be able to pay comfortably and secure in the knowledge that the final price they see will be the price they pay.

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Amazon.com Tops Millward Brown Ranking Globally and in the U.S.

Millward Brown brand, media and communications research, released a report entitled “Value-D: Balancing Desire and Price for Brand Success,” revealing that only seven percent of consumers truly buy based on price alone. The report ranked the top global brands. led by Amazon.com, based on how consumers perceive the value of the brand and the cost associated with it and found that Amazon.com led the Value-D ranking both globally and in the U.S. The Value-D report also found that 81 percent of consumers regard brand as an important reason to purchase. The Top 10 Global Value-D Brands are dominated by those that are categorized as “Great Value” and “Justified Premium.” “Great Value” brands combine high desirability scores with price scores that indicate consumers feel the brand is priced less expensively or reasonably.

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WorldPay & RSA Supports Cardholder Verification

WorldPay payment service providers is collaborating with RSA to support the cardholder verification processes in the US and UK when RSA provides RSA Adaptive Authentication for eCommerce authentication services for major card associations. RSA is planning to incorporate technology from WorldPay to help verify hundreds of thousands of online payment card transactions on a daily basis. RSA now incorporates the WorldPay Risk Guardian platform, one of the leading ecommerce platforms in the industry, to help it process card owner verification checks. The WorldPay Risk Guardian platform is also assisting RSA during registration of cardholders in the Adaptive Authentication for eCommerce Secure program, allowing consumers to register their payment card details in a secure environment before cardholder identity is checked with the individual’s bank.

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