Citi ThankYou Rewards Expands Virtual Products

Citi “ThankYou” Rewards loyalty program has expanded rewards by introducing gift cards and exclusive virtual products from Zynga social game developer. Zynga is producing a line of exclusive items available only to Citi ThankYou Rewards members, starting at just 600 ThankYou Points. Members can also redeem for both physical and virtual gift cards to enhance their gaming experience across popular games like FarmVille, FrontierVille and Café World. The Citi “ThankYou” Rewards offers other virtual rewards that can be redeemed instantly, including digital music downloads and restaurant certificates.

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DCS Awarded Instant Card Issue Patent

Dynamic Card Solutions (DCS) instant issuance and PIN selection solutions for banks, credit unions and retailers that issue magnetic strip, EMV compliant and contactless cards, has been granted a patent for proprietary instant issuance printing technology by the U.S. Patent and Trademark Office. Printing unembossed “flat” financial cards, this patent is entitled ‘Real Time Card Printing Systems and Methods’ and further enhances Datacard Group’s portfolio of end-to-end instant issuance solutions. It describes the ability to produce at the branch level financial cards from blank card stock, including the ability to print unembossed financial cards instantly using reverse retransfer film with inhibitor panels using the CardWizard software platform. It is useful for issuing permanent financial cards, including debit, credit, ATM or prepaid cards, at the branch level.

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2011 Delinquency& COF Rate Poised to Plummet

The 90-day credit card delinquency rate at the end of 2011 is projected
to mark a 50.7% drop from the beginning of 4Q/07, at which point it was
1.36%, and will reach the lowest number since 1995. State-by-state,
Mississippi is expected to lead the drop by -13.67%; then North Carolina
by -13.09% and Kentucky by a -12.88% drop. This, according to
TransUnion, also shows Nevada, Florida and Mississippi will still have
the highest credit card delinquency rates at the end of 2011 while the
Dakotas will have the lowest at only 0.40%. This coincides with
Cardweb.com findings credit card charge offs now sit at
10.19% after having reached an unprecedented 10.93% in 1Q/10. For
complete details on credit card charge-offs and delinquency rates, visit
Carddata.com (www.carddata.com).

COF V DEL RATE
Mar/09: 8.7% 1.29%
Jun/09: 9.5% 1.15%
Sep/09: 10.1% 1.09%
Dec/09: 10.6% 1.18%
Mar/10: 10.93% 1.10%
Jun/10: 10.28% 0.92%
Nov/10: 10.19% 0.83%
Source: CardData (www.carddata.com)

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nFinanSe Launches Prepaid Card mApp

nFinanSe has completed the development, certification and release of its mobile Customer Service Application for the General Purpose Reloadable Prepaid Card Industry. This gives cardholders access to accounts directly from their mobile devices, contact Customer Service or request a return call. Developed in-house and now available for free at the App Store at http://app-store.appspot.com, the nFinanSe Customer Service Application services the reloadable Prepaid Visa and Discover Cards feature. Also, nFinanSe does not charge additional fees for text message alerts regarding purchase and balance information.

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eGift Cards Vital for Online Shoppers this Holiday

If a brand doesn’t offer online shoppers electronic gift cards, they may just lose a few customers. As a matter of fact, with 54% planning gift card purchases this holiday season, 70% of online shoppers would shop a different brand if a retailer or restaurant does not offer an eGift card option. This, according to the CashStar “2010 Pre-Holiday Online Shopper Gift Card Survey,” also shows 71% agree buying personalized digital gift cards online is more convenient than buying plastic cards in a store while 89% would be more likely to purchase a gift card if they were given a purchasing incentive or perk. Additional findings show 41% are planning to shop online this year compared to 33% last year; 60% have used a mobile device to redeem coupons and 20% are interested in purchasing digital gift cards from their mobile phones. This coincides with Cardweb.com findings 39% of females and 30% of males are interested in purchasing gift cards this season. Also, 30% now feel it is nicer to give a gift than a gift card, 38% of whom are female. More 25 to 34 year olds and 55 to 64 year olds, 37 and 40% respectively, said that giving a gift is nicer. This, according to the NPD Group market research organization, also shows 22% say gift card availability is influential while 27% of those older than 65 say their availability is influential (CardFlash Library, 2010/11/22).

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OTI Introduces Contactless mPayment

On Track Innovations, a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, eID Systems and other applications, is introducing a new mobile payment system which enables existing mobile phones to support Near Field Communication (NFC) functionality and contactless payments. OTI is already in advanced discussions with several mobile operators.

OTI’s COPNI™ (Contactless Payment and NFC Insert) brings innovation, creativity and unique know-how to this market with a true post-market mobile payment solution for mobile operators, banks, merchants and subscribers. COPNI is an add-on to mobile phones’ SIM cards with a flexible antenna and is based on OTI’s intellectual property and patents. The mobile payment system is independent of the handset type and model, and enables users to have one device that is both a mobile phone and a mobile wallet. It is compatible with carriers’ current infrastructure.

Mobile phones equipped with COPNI can be used in a broad range of payment applications simply by tapping the phone near a contactless reader. Payments are automatically confirmed and deducted from consumers’ bank accounts, credit cards or pre-paid accounts.

The system will be shown at the international CARTES & IDentification 2010 conference (booth #4 L 092) being held in Paris from Dec. 7-9.

“OTI’s new mobile payment system will allow consumers to easily add NFC functionality to their current mobile phone,” said Oded Bashan, chairman and CEO, OTI. “Our patented technology provides mobile operators and financial institutions/issuers with a quick-to-market NFC solution using the existing infrastructure. It offers them a way to get into the mobile payment market while expanding their customer base and generating increased revenues.”

COPNI supports existing contactless payment applications from major card associations, mass transit ticketing (with MIFARE support) as well as loyalty programs and other proprietary programs. Potential applications include:

Mass transit ticketing – instead of presenting cash or swiping a card at the turnstile, consumers just tap their phone near a contactless reader to proceed through the turnstile
Information retrieval – gives consumers the ability to view the current balance of their mobile wallet, and also allows their mobile handsets to receive and instantly download information from their surroundings (retail store, museum, etc.)
E-coupons – coupons downloaded to their wireless phone can be redeemed in retail stores at checkout
Editor’s Note: An image of OTI’s new mobile payment solution is available online at http://www.otiglobal.com/Form_Factors

About OTI

Established in 1990, OTI (Nasdaq:OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.

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FIS Deploys Prepaid eFinancial Account

FIS banking and payments have kicked off a low-cost, prepaid electronic financial account solution that enables consumers to make electronic deposits and payments as an alternative to a traditional demand deposit account (DDA) or general-purpose reloadable (GPR) prepaid card. FIS’ prepaid electronic financial account offering is funded in advance by deposits and value-loading transactions and provides simplified financial services to a variety of consumer segments, including the unbanked and underbanked. Because it is not tied to a checking account, this FDIC-insurable account can be offered by both financial institutions and non-financial organizations, such as leading retailers. The electronic account exclusively supports all forms of electronic payments and eliminates costly paper documents such as monthly statements and account opening documentation. The prepaid electronic financial account can be accessed via the most common self-service channels including online, POS, ATM, interactive voice response (IVR), call center and mobile.

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Recombo Appoints New Vice President, Payments

Recombo Inc., the global leader in Contract Management Software, announced the appointment of Tony Abruzzio as Vice President, Global Electronic Payments and Banking. In his role, Mr. Abruzzio is responsible for leading all customer facing resources which support Recombo Merchant Card Services and Banking customers.

Prior to Recombo, Mr. Abruzzio was Senior Vice President Emerging Technology / Business Development for Global Payments Inc., one of the largest worldwide electronic payment processors. With more than 30 years of experience developing, implementing, and managing business change, Mr. Abruzzio has held several key executive roles at leading card services organizations including GO Software, Inc., the market leader in POS (point-of-sale) payment processing software. Under Mr. Abruzzio’s leadership, GO increased revenue by an annualized rate of over 20 percent and increased product installations from a few thousand to over 250,000. In addition, he led GO to sustained profitability and facilitated the sale of GO to VeriFone Holdings.

“We are very fortunate to have Tony join our team. To have someone of his extensive knowledge and strong reputation within the card services vertical join Recombo reflects our growth and reputation as global leaders in the banking industry,” said Recombo CEO, Mike Gardner. “Tony is a highly respected executive and well positioned to lead our continued efforts in realizing many future opportunities for Recombo.”

“I am very excited to join Recombo,” said Mr. Abruzzio. “They have already forged impressive success in the electronic payments market with their contract management software platform, Agreement Express, and I look forward to bringing my experience and expertise to Recombo, as we rapidly move forward providing customers in the financial services industry with world-leading technology and robust products to help them achieve their business goals.”

Mr. Abruzzio is an active leader and in demand as a speaker at events, in the electronic payments community. He has led industry association committees. He was Chairman of the Electronic Transaction Association (ETA), Technology and Best Practices Committees. Currently, he sits on the Strategic Networking Forum Planning Committee.

About Recombo

Recombo is a global leader in contract management software that helps organizations streamline business processes, improve productivity, and reduce operational costs by 75% annually by automating their contract workflows. Agreement Express by Recombo is a paperless contract management software platform that materially improves operating margins within days by replacing paper-intensive business processes. Agreement Express is revitalizing the contract management software market with technology that is powerful, affordable and rapid to implement. Agreement Express is built around a document management system that enables users to efficiently manage contracts as they flow through each step of the contract approvals cycle from contract creation, distribution, signing, error-checking, and monitoring through to storing and retrieving. A robust set of built-in workflow automation features enables organizations to rapidly automate even the most complex paper-process. Agreement Express can automate all types of processes that require a number of forms to be completed and various internal and external signatories to sign & approve, in applications such as insurance, wealth management, debt settlement and merchant card service application forms, employee on-boarding, and equipment lease agreements,. Agreement Express’ flexible integration engine enables contract data and completed contracts to be exported and imported to and from any internal or external back-office systems including CRM and websites. Customers include Deloitte, Questrade, Billing Tree, HUB International, M&T Bank.

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INSIDE Forges Managerial Makeover

INSIDE Secure semiconductors announced several promotions designed to strengthen the management team for the next phase of the company’s growth. With this, Charles Walton has been promoted to chief operating officer for INSIDE after serving as executive vice president of payments for several years. Christian Fleutelot, formerly managing director of Atmel’s SMS business (just acquired by INSIDE), is now general manager of INSIDE’s VaultIC-Secure Microcontroller Solutions business unit. Andy Bear, who joined INSIDE as part of the Atmel SMS business acquisition, has been promoted to general manager of INSIDE’s new East Kilbride, UK operations. Bertrand Moussel has been promoted to executive vice president of worldwide sales. Additionally, Lim Boon Heong was appointed to general manager for the Asia-Pacific region.

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NCR Wins Contract for 15K Units in China

NCR Corporation has won a new ATM order contract of 1,500 units from ATMU (China) Technology, extending its presence to the Chinese bank market. The order includes the NCR “SelfServ” ATM family with intelligent cash deposit and recycling functions. Since 2008, NCR has won volume ATM orders from ATMU for three consecutive years totaling more than 3,000 units. Allowing small-to-medium sized banks in China avoid making separate investments in dedicated ATM fleets, the contract features the NCR “SelfServ 22” and “SelfServ 25” models and the NCR “SelfServ 31” and “SelfServ 36” with intelligent cash deposit and recycling capabilities. The Bank committed to the contract citing NCR SelfServ helps drive deposit and revenue growth by delivering broad range of transactions and ensuring higher availability to consumers.

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