Fiserv Announces New Face for APL

Fiserv financial services technology solutions has introduced its “OneView” user interface for APL managed accounts platform. With the “OneView” roles-based design, it brings workflow, exception reporting and simplicity to the APL platform to reduce the learning curve for APL users. It lets sponsors, money managers, overlay managers, advisors, outsourcers, banks and Turnkey Asset Management (TAMP) clients to more quickly and easily locate the information they are seeking as they are serving their investors. The “OneView” features the ribbon menu bar that Microsoft(R) introduced with its 2007 Microsoft Office(R) suite.

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CONSORTEUM MASTERCARD

The second phase of Consorteum Holdings’ MasterCard benefits pilot program is underway following successful deployment. The pilot program was recently doubled in size to include additional community members and is now accepting direct deposit of funds. Consorteum will continue to monitor the valuable data provided by the pilot for the launch of a nationwide initiative. Recently obtaining the capital required for further expansion, Consorteum anticipates having sufficient data for a scheduled multi-location rollout in early 2011.

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Total Sales Up By 3.3% Year-Over-Year

MasterCard Advisors’ macro-economic “SpendingPulse” report tracking national retail and service sales October 2010 summary results show total retail sales grew by 3.3% year-over-year, the strongest year‐to‐year pace since April. Total Retail sales were up 3.3% in October compared to the month prior when they were up 1.4% while seasonally adjusted month-to-month sales were up by 3.1%. Apparel reflected great sales growth for ts third consecutive month of year-over-year growth while department store sales, electronics and appliances, and airlines all posted declines. On a regional basis, with year-over-year growth in the Mid-Atlantic and South Central regions at close to or above 5.5% while in the Northeast, Pacific and Great Plains saw sales growth of between 1-2%.

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VISA INFINITE

Visa is designating its “Infinite” card as the official payment card of the 2011-2013 seasons at the Shaw Festival theater companies. This will provide Visa “Infinite” cardholders exclusive access to the best seats in the house for the upcoming season between December 4 and 23. During this time, cardholders have the opportunity to order tickets before the general public, simply by contacting the Shaw Festival Box Office and using their Visa Infinite card. When they purchase tickets or a Shaw Festival membership will receive 20% off Shaw Festival – ‘The First 50 Years’ commemorative book celebrating the Shaw Festival’s history, which is celebrating its 50th season in 2011.

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MPR Spikes, Third Highest Since October 09

Monthly Payment Rate performance for the month of September was way up to 17.51% after having hit a 2-year low in July. Year-over-year, MPR was up nearly 1% from 16.59% and
is at the third highest level since October of 2009. This is consistent with seasonal patterns and driven by seasonal factors as well as fundamental changes in cardholder payment trends. Historically, the MPR sees a lag in the fall months as the holidays approach, as has been the case since the start of the economic recession. Monthly payment rates have been resilient given the lack of credit availability because the percentage of cardholders who are charging rather than revolving has not changed significantly. For complete details on current and historical MPR data, visit CardData.com (www.carddata.com).

MONTHLY PAYMENT RATE
Jul 09: 17.12%
Aug 09: 16.96%
Sep 09: 16.59%
Oct 09: 17.77%
Nov 09: 17.66%
Dec 09: 17.23%
Jan 10: 17.15%
Feb 10: 15.95%
Mar 10: 18.79%
Apr 10: 14.61%
May 10: 13.96%
Jun 10: 14.22%
Jul 10: 12.86%
Aug 10: 13.11%
Sep 10: 17.51%
Source: CardData (www.carddata.com)
Source: CardData (www.carddata.com)

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2Checkout Online Payment & Znode

2Checkout.com and Znode have partnered to make buying and selling
products online faster, easier, and more secure. With 2Checkout’s
existing International customer base, global online payment solutions
and Znode’s multi-store ecommerce software, the partnership will provide
2Checkout’s merchants with even more ways to reach customers and
increase sales with a safe and easy way to accept payments online. Znode
provides online retailers with unique marketing capabilities through a
multiple-store customer acquisition and retention model. 2Checkout.com
global payments solutions provider services approximately 60,000 online
retailers.

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Upromise Mastercard Helps Holiday Shoppers Budget

Sallie Mae’s “Upromise” is providing tips to save for holiday shoppers.
In addition to looking for sales and coupons, Upromise is recommending
its “World MasterCard” credit card from Bank of America. The card gives
an additional 2% back on eligible online purchases at more than 700
participating online retailers that can be directed towards education
expenses, in addition to the 1-25% members earn from online retailers by
shopping at Upromise.com and on top of the 1% cardholders earn for all
other purchases made with the Upromise credit card. Last year during the
holiday season Upromise members received $12 million in college savings
rewards from eligible holiday spending with hundreds of participating
merchants.

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CardSmart Launches mCredit Processing

CardSmart Merchant Services and the eProcessing Network have teamed to introduce the “ePN Mobile,” allowing merchants on the go to process credit cards from their iPhone, iPad, iPod, Blackberry, Android, or other Java enabled phones. Credit cards can be manually entered or can be swiped using an attached or wireless Bluetooth card reader. With touch-screen enabled phones, signature capture is available in which signatures are sent and stored on the gateway with the receipt. All mobile credit card transactions are secured and stored on line. The software comes with access to the ePN Merchant Support Center that gives access to all transaction logs, phone configurations, and account settings making it easy to manage the mobile credit card processing account from anywhere. CardSmart Merchant Services is currently offing special pricing on the ePN Mobile software to existing merchants.

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First Data Appoints New CFO

Ray E. Winborne has been appointed to the First Data Board of Directors as the company’s CFO. Named Executive VP and Acting CFO in May 2010, he first joined the electronic commerce and payment processing organization in 2009 as Senior VP, Finance and Controller. Since then he has been the company’s principal accounting officer responsible for all corporate accounting activities including SEC and regulatory financial reporting, Sarbanes-Oxley financial compliance, benefits and revenue accounting, procurement and receivable services. Winborne began his career with PricewaterhouseCoopers and was later named corporate controller and chief accounting officer at two Fortune 200 companies – BellSouth Corporation and Delta Air Lines.

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Sheetz Offers Rewards Tempo Debit Card

Sheetz convenience stores is now offering its customers a Tempo-powered rewards debit card that links to consumers’ existing checking accounts. The Sheetz “Rewards Debit Cards” are issued by Tempo partner First Bank & Trust of Brookings, SD, part of Fishback Financial Corporation, and can be used everywhere Discover cards are accepted. Shoppers using the Sheetz Rewards Debit Card for purchases at Sheetz locations will earn discounts on gasoline purchases, as well as cash-back for purchases at millions of other retailers nationwide. Sheetz is using Tempo’s Web-based debit card platform to offer its own branded debit cards and provide a web portal for consumers to apply for and activate cards, as well as track purchases and rewards. Every time customers use the Sheetz Rewards Debit Card at a Sheetz location they will earn a discount of 2 cents per gallon off at the pump on their next gasoline purchase. Tempo-enabled debit cards are affinity partner-branded, generate valuable cardholder rewards, and can be used for online and offline purchases and ATM withdrawals.

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HUDSON BAY

Capital One Canada is set to acquire and service GE Capital’s “Hudson’s Bay Company” credit card portfolio and related assets, with outstanding receivables of approximately $1.3 billion. The acquisition will include the transfer of approximately 400 GE employees directly involved in the Hudson’s Bay Company’s financial services business to Capital One. These employees will continue to work on the Hudson’s Bay Company credit card portfolio at locations in Toronto and Montreal. The transaction was approved by the board of directors of Capital One and GE Capital is subject to customary regulatory approvals and notifications and is expected to close in the first quarter of 2011. GE Capital Retail Consumer Finance offers customized private label credit card programs to more than two dozen partners and has nearly $30 billion in assets and over 40 million account holders.

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Consumers Focused on Reducing Card Debt

Credit card debt amongst consumers with a credit card decreased 7% since January while consumers in seven states have paid down their credit card balances by more than 10% since the beginning of the year. These states include Indiana and Tennessee down by 10%; Oregon by 11%; Nevada by 12%; Hawaii and Idaho by 13%; and Wisconsin credit card debt dropped by 28%. This, according to the CreditKarma.com “U.S. Credit Score Climate Report,” however also average credit scores remain at the beastly number of 666 from September 2010, down three points since January, while an additional eight states have fair to poor credit scores of 650 or lower. These states include Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina and Tennessee while California, Massachusetts and New Jersey have the highest credit scores nationally with an average of 684; Arkansas had the lowest with an average 636; and Louisiana saw the largest credit score change since January 2010, up from639 to 647.

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