Citi Sponsors Billing Revolution Payment

Citi is now a major sponsor of the proprietary Billing Revolution “Single-Click Checkout” mobile app service designed to process credit card transactions in-app or on mobile web sites. With “Single-Click Checkout,” users can conduct credit card purchases with their mobile devices from any web- or mobile-based merchant without entering a user name and password. With its ‘pop-over’ design, “Single-Click Checkout” is the first of its kind for mobile credit card transactions using a unique device ID . Once this is established, consumers can simply click on the goods and services they want. It is available to consumers on November 29.

Details

TACKLING NUMBERS

Saracens captain and England rugby star Steve Borthwick has launched “Tackling Numbers” in association with http://www.mbna.co.uk, a ground-breaking campaign teaching basic mathematics to thousands of schoolchildren in England. Borthwick joined Europe’s largest credit card lender MBNA and Premiership Rugby to begin the national roll out of the project, which uses the power of rugby to promote the understanding and learning of numeracy among seven to nine year olds. Delivered by Chester-based MBNA, Premiership Rugby and all Premiership Rugby’s 12 clubs, the program is expected to reach more than 800 primary schools in England over the next three years.

Details

Kinecta Federal CU to Issue MasterCards

Beginning this month, Kinecta Federal Credit Union announced it is set to issue MasterCard “PayPass” contactless payment technology on its credit cards. This will offer cardholders a “Tap N Go” feature, allowing Kinecta members simply tap their PayPass-enabled credit cards on a specially equipped merchant terminal. PayPass allows payments to be completed quickly, securely and easily, without the hassle of swiping a card or fumbling for cash and coins. Signatures are not required for PayPass purchases under $50, further expediting transactions, and include traditional magnetic strips so they can be used anywhere MasterCard cards are accepted. About 94 percent of respondents to a 2008 MasterCard PayPass Benchmark Study were satisfied with their experience, and 77 percent of PayPass consumers said they use PayPass as their primary card for everyday purchases.

Details

OPTIMUM

Hypercom is set to deploy its Optimum payment terminals for Credit Agricole volume payments. Holding a 28% French market share of household accounts and the top bank for businesses, Credit Agricole has begun rolling out an estimated 25,000+ Hypercom “Optimum” card payment terminals to merchants. This mass deployment that will continue into 2011 to further expands the Hypercom footprint and represent a significant endorsement in Europe.

Details

Cardtronics Deploys i-design ATM Advertising

Cardtronics retail ATMs has signed a multi-year agreement with UK-based i-design “atmAd” marketing platform for self-service devices to bring immersive
third-party advertising to its ATMs. Cardtronics will launch advertising on approximately 2,200 of its Vcom financial kiosks in 7-Eleven stores in the
United States after recently offering third-party advertising on about 800 ATMs operated by Bank Machine, Cardtronics’ United Kingdom subsidiary. With this,
i-design will sell ATM advertising space to third-party brands on behalf of Cardtronics allowing them to place their messages on the ATMs equipped with the
“atmAd” software in both the United States and the United Kingdom.

Details

Metro Bank Launches Payment Service

Metro Bank introduced its “Pay Anyone” free feature online bill pay service, allowing people to send personal payments to anyone with a U.S. bank account just by using the recipient’s e-mail or cell phone number. Payments are sent directly from the sender’s bank account to the recipient’s bank account and can be deposited in as fast as one business day. The “Pay Anyone” service includes quickly and easily sending money to children in college, collecting money for group gifts, splitting the bill for dinner or paying the babysitter. Metro Bank’s online banking service enables customers to instantly access their account information; transfer funds between Metro accounts; view 18 months of electronic account statements and bill-pay history; apply for a loan and more. Metro’s online banking customers used free bill pay to pay nearly 730,000 bills in the first ten months of 2010.

Details

Fundtech to Offer AmEx Foreign Exchange

Fundtech global transaction banking is set to implement American Express “FX International Payments” services to provide integrated international
payments capabilities to its “PAYplus USA” clients. The “FX International Payments” offering gives both corporate and financial institutional clients the
ability to send and receive payments in foreign currency. Banks using “PAYplus USA” for domestic wire transfers will have integrated international payments
capabilities with straight through processing (STP), enabling them to benefit from operational efficiency. American Express will offer competitive foreign
exchange (FX) rates and fees, through its service integration with “PAYplus USA” as well as provide clients with access to its dedicated customer service.

Details

Discover Donates to Florida Boys & Girls

Discover Financial Services will be awarding a $100,000 grant benefiting the Boys & Girls Clubs of Miami-Dade and Broward counties to upgrade and enhance their current facilities and to provide scholarships for children to enroll in the Clubs. Some of the Club enhancements include building an imagination career room where young children can act out all sorts of jobs. Funding will also support scholarships for many children to enroll in Boys & Girls Clubs for free. Discover has partnered with local Boys & Girls Clubs across the country providing them with funding for after school programs and other initiatives that keep children off the streets and in a safe learning environment.

Details

O Bee CU & FrontStream Launch Card Charity

O Bee Credit Union and FrontStream Payments have partnered to bring credit card processing of charity donations to a financial institution’s web site. This represents a model for other financial institutions to support non-profits in their communities in similar fashion, in which monies collected are deposited directly into the non-profit accounts, so donations can be tax deductible from any institution’s Visa or MasterCard credit cards or Visa debit cards. The processing system exceeds security requirements set forth by all major credit card companies for safe transaction data security.

Details

Discover Official Partner of the NHL

Discover Financial Services and the National Hockey League (NHL) have inked sponsorship partner agreements naming Discover as an Official Partner of the NHL in the U.S. The sponsorship also designates Discover as the Official Card of the NHL, NHL All-Star Weekend, NHL Winter Classic, NHL Awards, and the NHL Entry Draft. This ultimately gives Discover extended opportunities to engage with U.S. hockey fans nationwide and develop exclusive hockey-themed rewards opportunities and experiences across various NHL special events. Not only will this offer Discover cardmembers “Cashback Bonus” reward redemption for discounts to Shop.NHL.com and the NHL Powered by Reebok store in New York City, GameCenter Live subscriptions, autographed NHL merchandise, and more, also one lucky Discover cardmember will have the opportunity to spend a personal day with the Stanley Cup.

Details

FISERV

The Business Services sector has seen some recovery in Q3 due to an uptick in demand for financial solutions, processing services, and person to person payment systems. After reining in spending during the recession, many financial institutions are starting to expand their budgets. Some of this spending is anticipated to go towards IT which should benefit some companies within the Business Services sector. While this increase in spending is a good sign for the entire sector, weakness in check processing and lending solutions offset some of the sector’s Q3 growth.The payment services and credit card segment of the Business Services sector has experienced a slight recovery as well. After decreased consumer spending limited transaction revenues during the recession, companies are beginning to see an uptick in credit and debit card spending. Emerging markets have been the primary source of strength as burgeoning middle classes around the world begin to shift toward using cards to pay for goods and services instead of cash. Register now at https://stockcall.com/development/stockcall/page.php?name=register.html to have free access to our reports on the business services industry.

Details

Credit Card Chargeoffs Stay Over 10%

Credit card chargeoffs stay on the wrong side of the 10% threshold while delinquencies improved for the ninth straight month. Late stage delinquencies decreased by 6 bps to 3.5% and early stage delinquencies were also down by 1 bps to 4.61%. This, according to the latest Credit Card Index results from Fitch Ratings, also indicated monthly payment rate (MPR) performance continues stability, but slowed slightly in September for a small decrease of 15 bps to 19.65%. MPR still represented a 9% increase compared to the year ago period and is at the third highest level since the beginning of 2008. According to CardData.com, the credit card charge off rate took a steep nosedive from 10.03 in August to 8.9% after having skyrocketed to 10.93% in March of 2010, after having soaring past the 6% mark in December of 2008, the 8% mark that following spring, and finally the 10% mark in September of ’09. This comes as a relief to rampant fear last year credit card-backed securities would realistically near 12% by this time. Also, average charge-offs for the first quarter were an unprecedented 10.93%. Charge-offs are expected to continue declining into 1H/11, thanks to credit card issuers having already written off balances from borrowers with weak credit over the past couple of years and tightening underwriting standards. For complete details on credit card charge-offs visit Carddata.com (www.carddata.com).

COFS HISTORICAL
Jun/08: 5.3%
Sep/08: 5.5%
Dec/08: 6.0%
Mar/09: 8.7%
Jun/09: 9.5%
Sep/09: 10.1%
Dec/09: 10.6%
Mar/10: 10.93%
Jun/10: 10.28%
Sep/20: 10.19%
Source: CardData
(www.carddata.com)

Details