TSYS Promotes Account Executive VP

Allen Pettis has been promoted to Executive VP, Major Account Relationship Management with TSYS. In his new role, he will oversee major client relations and TSYS Loyalty and Prepaid value-added products and debit. Having first joined the company 24 years ago, he was previously responsible for the commercial card division as well as all production areas of support, card services and authorizations. He is on the Board of Junior Achievement of the Chattahoochee Valley and is actively involved with the Children’s Miracle Network. Pettis holds a bachelor’s degree in business administration with a concentration in production management from Columbus State University, and graduated from the University of Oklahoma’s Bank Card School.

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National Credit Score Drops 2 Points Q/Q

For 3Q/10, national credit scores average 666, down two points since 2Q/10 and three points since January 2010, but several MSAs have seen a credit score decline greater than the national average since 2Q/10. These MSAs include Chicago, down three points from 679 to 676; San Diego, down four points from 690 to 686; and Houston , down five points from 667 to 662. These findings, from CreditKarma.com’s “U.S. Credit Score Climate Report,” also showed consumers with an account have paid down their credit card debt by four percent since 2Q/10, and five percent since January 2010, with consumers in Wisconsin and Idaho lowering their credit card balances the most. Credit card debt in Wisconsin is down 21 percent and Idaho is down 10 percent since Q2 2010. The average consumer with an account in September had $7,526 in credit card debt; $174,456 in home mortgage loans; $51,223 in home equity; $15,122 in auto loans; and $28,425 in student loans.

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NCR Launches ATM Deposit Technology

NCR Corporation is now making no-envelope deposits twice as fas with its “Scalable Deposit Module (SDM)” technology for NCR SelfServ ATMs. Allowing users to deposit a total of 50 notes of cash and checks through a single transaction and deposit slot, “SDM” cuts ATM deposit transactions in half. The technology works with the NCR “SelfServ 30” series of ATMs and is available immediately to U.S. financial institutions. Further, “SDM” ATMs truncate checks and store them in the safe, eliminating the need for daily pick up, and use a simple media path that reduces jams and features intuitive LED indicators to make it easier for bank staff to service the module without a maintenance call.

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Orange County CU Deploys Tyfone mBanking

Orange County’s Credit Union (OCCU) has
made mobile banking available to its 79,000 members using
Tyfone
mobile banking, mobile contactless payment and its secure mobility
solutions through the “u4ia”
platform. The “u4ia” mobile banking platform was designed to increase profitability
by making banking possible from any place, any time, and subsequently grow the number of transactions.
Tyfone enabled mobile application store
presence by making OCCU’s mobile applications available in the Android
Marketplace and iPhone App Store.
Within the first two weeks of the launch almost 3% of the member
base have already signed up for this mobile service with over 55%
of the active mobile banking members using at least two out of the three
modes (SMS, App, and mobile web).

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FIS to Provide Rockland Trust Item Processing

FIS banking and payments technology announced
Rockland Trust Company will
convert its entire item processing and statement printing operation to
its platform to offer remote deposit capture for commercial and consumer
clients. FIS will also provide its mobile remote deposit capture
solution enabling the bank to offer a new self-service product to its
customers. Rockland Trust was
already using several other solutions from FIS including ATM/debit card
processing and eBanking.

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Ingenico & Sage Hits US Market

Ingenico payment solutions and Sage Payment Solutions have partnered to
offer the US market a new integrated payments offering for small and
mid-sized businesses. This will allow Sage customers to use Ingenico’s
credit card terminals with Sage Exchange connectivity to securely
process payments. The Ingenico terminals will seamlessly integrate with
the “Sage Exchange” PA-DSS payment platform. Ingenico will also
integrate “Incendo Online” terminal application with “Sage Exchange” to
give businesses centralized control of their Ingenico payment devices.
The “Sage Exchange” accepts credit and debit cards, gift/loyalty cards,
electronic bank accounts (ACH), and paper and e-checks including
electronic check conversion.

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paysafecard Prepaid Online Payment Embarks on US

paysafecard prepaid voucher for online payments is now available in
the United States, offering consumers a
secure prepaid solution to make purchases in online games. paysafecard
vouchers are already available at more than 12,000 outlets in the U.S.
in denominations of $10, $25, $50 and $100. The vouchers are redeemable
in any game that offers paysafecard as a payment method. paysafecard
vouchers are the only prepaid solution of its kind issued and secured by
a U.S. bank. This allows gamers’ financial privacy thanks to secure 16 digit pin
codes which can be redeemed to buy in-game items and virtual goods in
online games across the US that accept it as a
payment method. Additionally, paysafecard vouchers do not charge any
additional fees to the consumer.

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Fiserv Expands Online Banking Features

Fiserv financial services technology has enhanced its “Virtual Branch” online banking suite for credit unions. The Fiserv “Virtual Branch” features an enhanced user interface and integrated capabilities that maximize the online delivery channel through account origination, bill payment, lending, mobile banking, and other convenience tools for members. It is currently deployed at more than 1,000 credit unions to offer more member-friendly capabilities for credit unions’ online channels. These include “Bill Payment” e-bill payment services; “Check Image Archives” to offer members the convenience of viewing their checks online; “Cross-Sell” for implementing cross-sell strategies and new integration between “Virtual Branch” and “Next Multi-Channel Marketing” and enable credit unions to target online members with the right products and services to drive wallet share; “Home Deposits” through “Consumer Source Capture” to improve funds availability for the credit union; “Lending Platforms” to support growth strategies; and m-banking with integration with the hosted version of “Mobile Money” from Fiserv.

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RF IDeas Launches Contactless Smart Card Reader

RF IDeas contactless smart card reader solutions has introduced its “pcProx Plus” reader for customer clients in both 125
kHz and 13.56 MHz environments to use the same reader, independent of
card technology. This is the first product in a new family of
products from RF IDeas that combine 125 kHz and 13.56 MHz technologies. RF IDeas will be giving technology demonstrations of this new product at
the ASIS show from October 12-14 in Dallas, Texas.

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TCF Bank Files Lawsuit Challenging Durbin Amendment

TCF National Bank is filing a lawsuit challenging the constitutionality of the Durbin Amendment, which includes the Wall Street Reform and Consumer Financial Protection Act of 2010 and is also known as the Dodd-Frank Act. Ordering regulations that strictly limit the amount of interchange fees the bank can charge retailers on debit card transactions, the Amendment directs the Federal Reserve Board to measure the processing costs of authorizing, clearing and settling debit card transactions, which amount to only a fraction of the total costs required to manage the debit card system and deliver the product. Because Congress never enacted any regulatory statute like the Durbin Amendment before, requiring an administrative agency to order sellers of a product or service to cut their rates to a rate far below their actual cost of delivering the product or service and exempting 99% of the sellers from the new confiscatory rate AND because it was a last minute addition to the Dodd-Frank Act’s comprehensive overhaul of the financial services industry, which neither the Senate nor the House held any hearings on the provision, few people in Congress grasped its revolutionary implications and its punitive impact on the few banks subject to its restrictions. TCF will therefore host a teleconference to elaborate further on the reasons it chose to file this suit, at which time it will further explain the legal basis for the complaint. This runs counter to the small business advocacy group “Reform Swipe Fees NOW!,” which pushed for Congress to pass commonsense swipe fee reform and to ensure the Durbin amendment was part of the final bill. The U.S. swipe fees are still higher than any other industrialized nation and has seen rates triple in less than a decade. These fees totaled $48 billion in 2008 Visa and MasterCard banks charged retailers and other business, equating to an average $427 charged annually to the average household. The Durbin Legislation was designed to reduce interchange costs between $35 million and $42 million annually (Cardflash Library 2010/06/17).

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Planet Payment Reports End of DCC Moratorium

Visa has put an end to the Planet Payment multi-currency payment and data processor moratorium on offering Dynamic Currency Conversion (“DCC”) by new merchants and acquirers, with immediate effect. With this, Planet Payment acquirer customers can now activate new accounts and new merchant locations for DCC on both Visa and MasterCard in all regions. This after Visa issued new rules which limited the addition of new DCC participants in April 2010, which included additional receipt disclosure requirements, as well as new registration and certification programs.

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TSYS & Simmons First Ink Payments Agreement

Simmons First National Bank has inked agreements to convert its consumer credit card portfolio to TSYS in 2011 to offer core account and transaction processing services, card and statement production, fraud detection, on-line customer service technology and risk management support. Financial terms went undisclosed. Earlier this year, Simmons First also signed a merchant processing services agreement with TSYS, and has extended their existing agreement with TSYS for comprehensive cardholder loyalty and rewards program management. TSYS outsourced payment services makes available processing technologies for consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies around the world.

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