Cinterion cellular machine-to-machine (M2M) communication and a Gemalto company partnered with DENSO automotive supplier to unveil their “112” pan-European in-vehicle emergency call (“eCall”) at the second ERTICO – ITS Europe assembly in Brussels. The eCall system aims at promptly alerting emergency services, thus helping to save lives and increase road safety. An emergency call is generated either manually by a person inside the vehicle, or automatically through the activation of in-vehicle sensors if an accident occurs. Upon activation, the in-vehicle system establishes a 112-voice connection directly with the most relevant Public Safety Answering Point. A Minimum Set of Data (MSD), including key information about the accident such as time, location and vehicle description, is sent over the voice channel to the emergency staff at the relevant Public Safety Answering Point (PSAP).Details
U.S. Bancorp has acquired the banking operations of First Community Bank from the FDIC and will receive approximately $2.1 billion of assets and assume approximately $2.1 billion of liabilities. This figure includes $1.8 billion of insured and uninsured deposits. This decision was reached following credit due diligence and an agreed asset discount of approximately $380 million. With this, all First Community Bank branches will continue to operate under their current name and will be re-branded as U.S. Bank branches in the near future. U.S. Bancorp $308 billion in assets, operates 3,031 banking offices in 24 states and 5,310 ATMs.Details
Research shows 22.3% of US consumers chose their card because it offered cash back, compared to only 10.3% of global consumers. Additional findings show online and by post are the two most popular channels for opening a credit card in the US and Wells Fargo have a large number customers with large bills on their cards each month. This according to the Research and Markets “What Consumers Want: Cards in US 2010” report.Details
Chase has awarded a $5 million grant to the Valley Economic Development Center (VEDC) to generate the loans small and medium-sized businesses need to sustain and expand their businesses and to hire more Californians. In doing so, VEDC will launch a statewide Chase Small Business California Loan Program lending program to generate $50 million in new loan capital. Over the next three years, VEDC plans to make direct loans to 200 businesses that could create at least 2,000 jobs. It will lend $50,000 to $500,000 to small businesses generating $500,000-$10 million in annual revenue; employ five to 100 people; operate in low-and moderate-income communities and employ low- and moderate-income residents.Details
The credit card monthly payment rate was up for the month of November for American Express, Capital One, Chase, Citi, Discover and GE Money, averaging 32.01% for the 3 months prior. Without the 96.71% MPR American Express reported, the remaining companies averaged 19.07% for the 3 months. Meanwhile, for the full year ended in November,…Details
December Chargeoffs were the lowest of all months in 2010 with Citibank posting the biggest decline to 8.34%, down from 9.4% in November and well below the 11.55% posted in March. Charge-offs are expected to continue improving- in conjunction with the unemployment rate- after having peaked in 2Q/10 at 10.37%, compared to only 3.82% in…Details
CA and UK-based BilltoMobile has partnered to offer BOKU merchants its “Direct Mobile Billing” (DMB) payment service into the Verizon Wireless billing system.
A mobile payments provider, BOKU will now be processing payment transactions for their merchants through the BilltoMobile payment service on Verizon. BOKU offers merchants and more than 2 billion consumers in 65 countries the ability to transact across 230 carriers and is backed by VCs that include Andreesen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures and Khosla Ventures. Meanwhile, BilltoMobile process eCommerce mobile payments and have processed over $4 Billion in mobile billing transactions. Their service is leading the way globally for financial grade mobile payment standards that are revolutionizing the mobile billing space.
Regions Bank is making available its “IdentityProtect” to help customers guard against identity theft. The “IdentityProtect” Protection Service provides customers a “Triple-Bureau Credit Alert,” providing customers 24-hour credit monitoring of all three credit reporting agencies and notification on certain changes to credit; “Card Patrol,” letting users register up to 10 debit or credit cards for notification of questionable usage within 24 hours; and Insurance and Support Services, providing up to $2,500 in insurance to help cover qualified expenses incurred in the recovery of a stolen identity.Details
Montana-based CUsource credit union service organization and Bluepoint Solutions remote deposit capture, item processing and enterprise content management have partnered to provide modern check processing technology to credit unions. With this development, CUsource will centrally host Bluepoint’s end-to-end item processing suite and capture solutions. CUsource Credit Union Service Organization provides to credit unions data processing and print mail services, among other service ,while Bluepoint’s item processing, branch capture and home capture solutions will initially be implemented in 65 branches across approximately 30 different credit unions.Details
Everything Everywhere and Barclaycard are set to launch their contactless mobile phone payment solution by early summer for greater convenience and control. The new offering from Orange and Barclaycard will let users pay for goods and services with their mobile phones to at more than 40,000 retailers that use contactless technology, by simply waving their mobile phone against a contactless reader. The new contactless mobile payment technology has been developed to ensure customers’ transactions and personal data will be protected and secure. The launch proposition will focus on an industry backed, SIM-based approach to payments ensuring enhanced security for customers, as well as to initially provide a single point of customer care contact. MasterCard will provide the payment capability for the contactless mobile transactions. The move builds on existing contactless payment technology with 11.6m contactless credit and debit cards already in circulation, of which over 10m have been issued by Barclaycard and Barclays.Details
Western Union money-transfer services has signed an agreement with Intesa Sanpaolo banking group to offer Western Union “Money Transfer,” allowing the first time in Italy that remittances can be sent abroad via ATM machines. With 11 million customers and a market capitalization of about EUR30 billion, Intesa Sanpaolo will make available the services beginning in Jung across its network of more than 7,200 ATMs, then the 700 standalone kiosks inside Banca Intesa Sanpaolo branches and via internet and mobile banking.Details
The Semiconductor Industry Association (SIA) U.S. leadership in semiconductor manufacturing and design is encouraged and bolstered by President Obama’s recent State of the Union address. The President’s focus and attention on science and engineering education, basic research investments, visa reform and comprehensive tax reform as the path to lead our economy toward full recovery and long-term growth is admirable and, representing the Country’s top export industry, the SIA pledges to work with Congress and the Administration to achieve these goals. The State of the Union addressed basic research investments helped create and fuel the computer chip industry. The Semiconductor Industry Association subsequently is encouraging Congress and the Administration to work together to provide long-term federal funding commitments for research and education as well as reform of U.S. tax, regulatory, and workforce policies to bolster economic recovery and ensure future American prosperity.Details