Flint Telecom Expands Prepaid & mPayment Empire

Flint Telecom Group has fully completed the acquisitions of the entire issued capital of Ingedigit International debit cards and Gotham Ingedigit Financial Processing. Power2Process. Each company will operate as separate entities within the Flint Telecom group of companies. Ingedigit International Inc. is a U.S. based independent sales organization (“ISO”) offering International pre-paid debit card services in partnership with international banks and other program sponsors, to offer debit cards and other related products to their customers. Ingedigit International will be rebranded Power2Process in the coming weeks to enhance its international appeal and presence and is a U.S. based advanced financial transaction processing and technology company.

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MoneyPass & MasterCard Ink Referral Agreement

MoneyPass inked agreements with MasterCard to make MoneyPass the preferred surcharge-free ATM solution for MasterCard debit issuers and ATM acquirers, including banks, credit unions, ISO ATM acquirers and ISO card issuers. MoneyPass was chosen based on its open structure, serving the best interests of a wide variety of potential participants in a highly flexible manner. MasterCard customers that choose MoneyPass as their surcharge-free solution will gain access to nearly 20,000 surcharge-free ATMs across the United States and Puerto Rico. MoneyPass growth over the past five years demonstrates the commitment to becoming the surcharge-free ATM solution of choice, as well as the growing interest within the financial institution and ISO community to offer a value-added service desired by consumers, with over 1250 participating bank and credit union members and nearly 40 million cardholders.

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CFOs Look to Improved CashFlow for Recovery

With 69% of CFOs most concerned with the challenge of managing cash flow, only 7% plan to slash expenses in 2011. Meanwhile, 39% expect their capital investments to increase next year, mostly on new technology, and 41% will focus on proper capital allocation and cash flow management. Additional findings, according to a recent TD Bank survey of small and medium sized companies, shows 78% projecting the recovery to take up two years to materialize, with the surest signs of a lasting upturn accredited to falling unemployment rates for 46%; 21% depending on sustained growth in their own organization’s sales; and 9% looking to an influx of new customers as an indication. Also, 45% of financial executives have seen their sales increase in the past year, of which 25% say by 10% or more; 58% project their sales to increase in the next year, of which 25% say by 10% or more; 46% believe the most likely constraints on capital investments will be cash flow; 18% blame unsure levels of funding from clients and government; 13% say the political climate is strangling cash flow.

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TOSHIBA TEC to Demo NCR Label Printer

OSHIBA TEC will unveil its new label printer with NCR two-sided thermal (2ST) technology at the Pack Expo 2010 trade show in Chicago from Oct. 31-Nov. 3. NCR’s 2ST(TM) two-sided printing technology improves the efficiency of the direct thermal printing process by allowing simultaneous printing on both the front and back side of a label or other media. 2ST labeling improves operational throughput which reduces operating costs and environmental impact.

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September Unemployment & COF Drop Steeply

The job loss rate in September hit the brakes and dropped steeply to
a 9.2% unemployment rate, the lowest since 2009. The corresponding
credit card charge off rate, after having skyrocketed to 10.93% in March
of 2010- at which point unemployment was at 10.2%- and lazily meandering
its way back to earth, took a steep nosedive from 10.03 in August to
8.9%. This follows months of soaring past the 6% mark in December of
2008, the 8% mark that following spring, and finally the 10% mark in
September of ’09, comes as sweet relief to rampant fear last year credit
card-backed securities would realistically near 12% by this time.
According to CardData (www.carddata.com), average charge-offs for the
first quarter were an unprecedented 10.93% with an unemployment rate of
10.2%. With this, Moody’s expects charge-offs 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. Meanwhile, with the unemployment
improving, so too are card delinquency rates, down a full percentage
point year-over-year to 4.65%. For complete details on credit card charge-offs visit Carddata.com
(www.carddata.com).

Unemployment Charge-Offs
Jun/08: 5.7% 5.3%
Sep/08: 6.0% 5.5%
Dec/08: 7.1% 6.0%
Mar/09: 9.0% 8.7%
Jun/09: 9.7% 9.5%
Sep/09: 10.4% 10.1%
Dec/09: 9.7% 10.6%
Mar/10: 10.2% 10.93%
Jun/10: 9.6% 10.28%
Sep/20: 9.2% 8.9%
Source: CardData (www.carddata.com)

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ThePOSWarehouse.com Names Top POS Provider

TX-based ThePOSWarehouse.com was named 2010 Intuit Solution Provider
(ISP) Partner of the Year by Intuit from a list of 550 possible ISPs.
ThePOSWarehouse.com offers an online r catalog of discounted POS
software, hardware, and supplies as well as Intuit’s full line of
QuickBooks accounting software. The Company also has certified
specialists on staff to answer questions, assist in the decision making
process, aide in transitions and implementation and train end users in a
variety of software applications. Consultants are certified in
QuickBooks Pro, Premier, and Enterprise including the highly regarded
Advanced Certification, QuickBooks POS and Intuit QuickBase. They also
offer full bookkeeping services to Greater Austin and San Antonio area
businesses.

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Auriemma Consulting Continues Exec Expansion

Eric Marks has been appointed Managing Director, Alliance Development, with Auriemma Consulting Group (ACG) payment industry consultants. Bringing with him nearly 15 years’ experience at BearingPoint/KPMG Consulting, where he built and managed major client relationships across the firm with prominent card companies and lenders, Eric also designed and led the Key Account program for Navigant Consulting’s Financial Services practice, and managed Capgemini’s relationship with one of the world’s largest banks. Additional appointments at the Company include Patricia Sahm having joined the firm in June as Managing Director, Knowledge Management, most recently with TRW Credit Data (now Experian) where she led the initial implementation of automated FICO scores; and John Costa as Managing Director, Financial Strategies, in January 2010, who was formerly the CEO of Promontory Asset Finance Company.

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Blue Bamboo Intros iPhone mPrinter & Payment

Blue Bamboo electronic payment solutions launched its P25-M Printer certified with MFi[Phone]. Manufactured for mobility and POS receipt printing, the P25-M is ideal for payments as well as for ticketing lottery coupons, and receipts. Blue Bamboo releases the MFi certified P25-M Printer, which includes a specialized and secure serial connection to the iPhone, iPad or iPod touch, and facilitates quick swipe and print capabilities for mobile merchants. 3DES DUKPT encryption is applied to P25-M to ensure card data is protected at point of swipe. Many consumers require a physical receipt and the iPhone paired with a P25-M has made paying at the table, car-side, or during home delivery a reality. An MFi authorized partner is able to certify a total solution by integrating a Works with iPhone approved payment application into the Blue Bamboo P25-M.

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Granite State CU Deploys Fiserv Processing

NH-based Granite State Credit Union has chosen to implement “Acumen” account processing from Fiserv financial services technology. To improve technology service for its 25,000-plus members, the credit union chose “Acumen” for its intuitive usability, workflow flexibility, and the broad range of integrated member relationship management (MRM) capabilities. The “Acumen” account processing for credit unions features an open architecture, advanced functionality and ease of use. In addition to Acumen, Granite State will implement Fiserv’s “LynxGate” for switch gateway processing; “Nautilus” for enterprise content management; “AML Manager” for compliance; “CheckFree RXP” for electronic bill payment; debit card processing and fraud detection; and the “UChoose Rewards” loyalty program.

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3D SECURE

First Atlantic Commerce (FAC) online payment gateway and fraud management announced its latest “3D Secure” deployment with Allied Irish Bank Merchant Services (AIBMS), Elavon and Barclaycard. With this, “3D Secure” is now certified to AIBMS, Elavon and Barclaycard for 3-D Secure Verified by Visa and MasterCard SecureCode. This allows FAC merchants to use the simple “3-D Secure only” payer authentication solutions to obtain liability shift for chargebacks on certain reason codes. The “3-D Secure” can be used effectively to determine the enrollment status of the Issuing Bank and the cardholder so merchants can pre-determine the risk profile of new consumers in advance of the first transaction.

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mRemittance Available from Nearly 70,000 WU Agents

Western Union now lets customers send money transfers from nearly 70,000 Western Union Agen locations in 27 countries directly to Globe Telecom and Smart Communications mobile subscribers in the Philippines. In addition, consumers in six countries can visit www.westernunion.com to send funds online using a credit or debit card directly to Smart Communications or the 24 million Globe Telecom subscribers’ “mobile wallets,” of which 1 million are enrolled in the “GCASH” mobile wallet service; Smart Communications has more than 45 million, of which more than 8 million are enrolled in “Smart Money.” To send, consumers need to visit a participating Western Union Agent location in any of the 27 countries or a Western Union website in Australia, Ireland, New Zealand, Switzerland, the United Kingdom or the United States.

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VERSAPAY EFT

VersaPay merchant credit, debit, gift and loyalty card payment processing solutions has signed a five-year contract renewal to provide Brewers Distributor its “EFT” proprietary Electronic Funds Transfer (“EFT”) platform. With this, VersaPay will provide BDL of Labatt Breweries of Canada and Molson Breweries business-to-business EFT payment for its customer base of restaurants, bars and hotels. With the EFT platform, money transfers between any Canadian bank accounts are facilitated to help businesses increase profits, shorten accounts receivable cycles, and improve payment efficiency.

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