GE Capital Acquires Folios from Citi Retail Partner Cards

For undisclosed financial terms, GE Capital has acquired sales finance portfolios from Citi Retail Partner Cards to offer consumer financing programs and related services to small to mid-sized retailers and dealers in the Home Furnishings; Flooring; Consumer Electronics; and Heating, Ventilation and Air Conditioning (HVAC) segments. The Citi portfolios being acquired include nearly three-dozen retail partner relationships that collectively represent more than 18,000 small to mid-sized Main Street merchant locations across the United States. Citi will provide interim servicing until GE Capital Sales Finance completes the conversion of merchants and cardholder accounts to its own system.

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PREMIERMILES

Citibank has launched the “PremierMiles” Credit Card with frequent flyers as a ‘universal’ mileage platform. This platform allows cardholders the freedom and flexibility to earn miles on their travel on over 50 domestic and international various airlines, setting customers free from the limitations of choosing one loyalty program over another. The feature-rich Card offers a superior earn rate of 10 PremierMiles per Rs.100 on all airline spends and a preferential interest rate. It also lets users enjoy access to over 700 VIP lounges at airports across the world, dining experiences at over 800 restaurants and special offers at PVR Cinemas and access to a dedicated Priority PremierMiles helpline for query resolution. The annual fee is rupees Five Thousand, the Citibank PremierMiles Cardmembers receive a first-year activation bonus of 5,000 PremierMiles. An annual spending of Rs.4 Lakh in a year earns cardholders a bonus 2,500 PremierMiles. All non-airline purchases on the card earn customers 2.5 PremierMiles for every Rs.100 spent.

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Dresser Wayne PCI PIN Transaction Security 3.0 Approved

The Dresser Wayne “iX” Pay Secure Payment solution has been awarded Payment Card Industry PIN Transaction Security (PCI PTS) version 3.0 certification for Encrypting PIN Pad (EPP) keypad devices. While many competitive fuel-retail payment solutions are still approved only to 2004 standards, which were based on payment security attack practices identified more than six years ago, Dresser Wayne’s significant win provides fuel retailers with the most current and advanced payment security available. The PCI PTS 3.0-compliant iX Pay Secure Payment solution helps protect consumers and retailers from increasingly sophisticated data fraud methods. It also provides industry-leading equipment investment protection by offering compliance through 2020, and even longer with upgrades. The iX Pay secure payment solution incorporates a multi-level approach to protecting data, including Triple-DES encryption algorithms, built-in keypad privacy shields, tamper-responsive mechanisms and unauthorized device-removal protection, along with many other innovative security features.

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GEMALTO

Gemalto digital security’s Coesys enrollment solution has been selected to manage the secure biometric registration of voters in the Republic of Benin. Expecting over 6million enrollments by March for presidential elections, Gemalto currently had over 3,200 Coesys mobile enrollment stations. The related software will capture citizens’ demographic data, fingerprints and digital photograph in the field. The Coesys mobile enrollment station is an all-in-one solution which features all biometric data capture devices contained in a robust and easy-to-transport field-case.

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Westpac Banking Orders 15,000 Hypercom Terminals

Westpac Banking ordered and will deploy 15,000 Hypercom Optimum countertop terminals to its merchants in Australia. The new Westpac Hypercom product offering features include a mains-powered, phone line-connected countertop terminal and a battery-powered mobile terminal. The order is the first of several purchases and deployments planned under the terms of a five-year agreement between Westpac and Hypercom announced in November 2009. Additionally, Hypercom, through its wholly owned subsidiary ACG, has in the last two months started providing service and support to Westpac’s entire installed base of more than 80,000 terminals.

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U.S. Bank and Monitise Americas Launch mBanking

U.S. Bank has partnered with Monitise Americas to launch “AccelaPay” mbanking for its “AccelaPay” Visa cardholders. Providing free access to user accounts anywhere and anytime through their mobile phone, “AccelaPay” mbanking, the service will be introduced to the U.S. Bank “ReliaCard” Visa program this month and to other prepaid card products in the coming months. BlackBerry and iPhone users can download the free “AccelaPay” application at accelapay.com, and all other mobile web users can access the AccelaPay mobile website at m.accelapay.com to check their balance, pay bills, receive account alerts and view mini-statements on-the-go.

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Cardlytics & AccountNow Offer Transaction Marketing

Cardlytics banking transaction marketing has partnered with AccountNow prepaid debit card provider to provide highly targeted rewards to customers based on prepaid debit transactions. This partnership represents a substantial addition to the general purpose reloadable prepaid portfolio and will allow merchants to market directly to AccountNow prepaid cardholders with offers based on their own preferred spending habits. AccountNow provides alternative online banking solutions to the more than 40 million people who lack credit or traditional banking relationships. Cardlytics’ offers are presented directly beneath line item transaction records reviewed by AccountNow customers each time they visit their own online prepaid statement. Selecting the offers allows account holders to activate or “accept” rewards before redeeming them at a number of national, local and online retailers which are automatically redeemed when customers use their qualifying cards to make purchases according.

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Mamaloot to Accept mPayy Online Checking Account Payment

Online and mobile payment provider mPayy and Mamaloot daily deals site for Chicagoland moms have partnered for merchant processing. The partnership gives moms shopping for daily deals simple and easy payment options directly from their checking account without leaving Mamaloot.com. mPayy secure online and mobile payments allows merchant processing for businesses, and quick and simple checkout. Introduced last year, Mamaloot brings daily deals to thousands of local moms every day sourced from service providers and retailers throughout Chicagoland.

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VISA, MC Agree on DOJ Decree, AmEx Does Not

Subject to review and approval by the Court, Visa and MasterCard have entered into a Consent Decree with the Department of Justice consistent the Companies’ business practices. The settlement will require the associations to modify its rules to more specifically conform to its business practices after a two-year investigation of their acceptance rules and practices. With this, all ten State Attorneys General who had requested information or opened investigations of MasterCard’s merchant acceptance business practices have closed their investigations while Visa will let U.S. merchants offer discounts or other incentives to steer customers to a particular form of payment and plans to change its relevant rules. The settlement agreement does not address Visa’s rule prohibiting U.S. merchants from surcharging consumers. The NRF is welcoming the settlements ending Visa and MasterCard, which it says block discounts to retail customers. According to the NRF, Interchange fees totaled $48 billion in 2008, three times the amount collected when NRF began tracking them in 2001, and are hidden from most consumers because they are not disclosed on monthly statements. Meanwhile, American Express declined to join the settlement and is challenging its government lawsuit filed against the company on behalf of the DOJ claiming terms of American Express merchant contracts, which protect cardmembers against discrimination and disruption at the point of sale, violate U.S. antitrust laws. AmEx protests the suit is proposing to interfere with consumer choice at the check-out counter by steering American Express cardmembers to another payment network.

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Discover and FNBO Forge Issuing Agreements

Discover Network and First National Bank of Omaha credit card issuer have inked multi-year agreements allowing First National Bank to issue credit cards on the Discover network. This will provide customers a greater choice when selecting a payment method. First National Bank of Omaha has more than 600 financial institution, co-brand, and affinity partners and is a Top 15 issuer of credit cards. First National and its affiliates have $17 billion in managed assets and more than 5,000 employee associates.

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INSIDE

INSIDE Contactless contactless secure transaction chip technologies has completed the acquisition of Atmel Corporation’s Secure Microcontroller Solutions (SMS). INSIDE paid $32 million in cash after an adjustment based on the working capital of the transferred business at the closing on September 30, subject to an additional cash consideration of up to $21 million if certain earn-out targets are met in 2010 and 2011. The agreement also provides INSIDE a royalty-based, intellectual property license agreement to support current and future SMS products. In addition, INSIDE entered into a multi-year supply agreement to continue sourcing wafers from the fabrication facility in Rousset, France that Atmel recently sold to LFoundry GmbH.

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eBillme to offer Amazon.com Gift Cards

In response to gift card sales having reached $23.63 billion in 2009, eBillme online payment service using online banking and walk-in locations has partnered with ACI Gift Cards to provide consumers a cash method for purchasing Amazon.com Gift Cards through their online banking/bill payment provider. With this, customers can purchase virtual gift cards in denominations of $5–$5,000 from eBillme directly, or by accessing eBillme’s site from http://www.amazon.com/cashgcresellers without releasing any financial information. After customers go to eBillme’s website, select their gift card amount, and enter their e-mail address, A bill is sent to the customer via e-mail and can be paid using the bill pay service from one of over 17,000 banks in the eBillme network. The eBillme cash-back rewards through the eBillme Rewards program gives them 1% cash-back on purchases made using eBillme, for a minimum redemption of $10. No financial information is exposed or shared with eBillme or the merchant.

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