American Benefit Plan Administrators Deploys FIS Payment

American Benefit Plan Administrators (ABPA) has entered into a multiyear agreement to convert its claims payment operations to FIS’ healthcare claims payment and remittance management system, “Claim Pay/Claim Remit.” ABPA completed implementation of the first phase of the conversion on July 1, 2010 and intends to complete the next phase by early 2011. FIS’ “Claim Pay/Claim Remit” system provides the process, security and technology to help clients such as ABPA efficiently and cost-effectively coordinate both paper and electronic payment and remittance distribution through a single processing and reporting interface.

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MOPAY

mopay payment solutions for online merchants is now offering mobile payments for social games published on international social networks. With this, mopay recently closed deals with 16 social games developers and platforms, bringing the seamless mobile payment experience of mopay to more than 100 new social games worldwide. Among the 16 new partners for mopay are such well-known brands as Farbflut Entertainment, Geewa, Plinga, POPMOG and wooga (for their VZ-Networks offer). All of these companies publish their games over various platforms including Facebook, Hi5, MySpace, Orkut and VZ-Networks offering in-game items such as virtual goods and services for purchase.

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Hancock Bank Deploys NCR Hosted mBanking

Hancock Bank has launched its mobile banking through NCR’s multichannel platform. Offering Hancock Bank customers a consistent brand and user experience across mobile, online and ATM channels, NCR “APTRA” Mobile Banking offers mobile access via a web browser or text banking service. The Bank anticipates that most customers will bank on their smart phone using the Hancock Bank-branded application downloaded directly to their phone, 60% of whom bank on an iPhone or Blackberry device. Additionally, 79% of U.S. consumers would choose one financial institution over another based on the ability to better control when and how they bank while 26% globally have changed financial institutions at least once in the past five years in order to gain access to m-banking.

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GOLD REWARDS

On September 30 at the Yonge and Eglinton Centre, thousands of cans will be transformed into a 16-foot replica of the Eiffel Tower to mark the official launch of the American Express “Gold Rewards Card.” The American Express-sponsored installation symbolizes what’s possible with this new concept in travel rewards. With double reward point accumulation on everyday purchases like gas, grocery and drugstore, the American Express Gold Rewards Card can quickly transform cans into vacations. The new Card is also designed to give Cardmembers unprecedented choice and flexibility when redeeming points, and freedom from restrictions associated with other programs.

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ATM, Debit & Prepaid Forum Features TSYS Execs

Two TSYS executives will appear at the upcoming ATM, Debit & Prepaid Forum from October 3-5. Sarah Hartman, senior director, will give a presentation titled, “Meeting the Changing Needs of Consumers” on Monday, October 4 to focus on new innovations in the marketplace that have evolved to meet the ever-changing needs of today’s consumers. Meanwhile, Blake Barker, senior director of card services, will also present on Monday, October 4 at a session titled, “On-Demand Payment Cards and Personalization” to co-present with Gareth Jones, senior vice president, Serverside, addressing the expectations of the digital age where consumers have come to value choice and one-to-one offerings.

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CB LEI

The Conference Board Leading Economic Index (LEI) for Australia increased 0.8% in July to 120.0 (2004 = 100), following a 0.6% increase in June, and a 1.0 percent increase in May. Meanwhile, The Conference Board Coincident Economic Index (CEI) for Australia, a measure of current economic activity, increased 0.2% in July to 115.6 (2004 = 100), following a 0.3% increase in June, and a 0.2% increase in May. The Conference Board LEI for Australia remains on a rising trend that began in the middle of 2009, and its six-month growth rate has picked up somewhat in recent months.

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Signature Debit Here to Stay

The Wall Street Reform and Consumer Protection Act has lead to debit card sales volume outstripping credit cards with an ever-widening gap. The Durbin Amendment to Dodd-Frank gave the Fed 9 months to decide on “reasonable and proportionate” rates for debit card interchange. With this, Some observers are predicting that the Durbin amendment will mean the end of signature debit, arguing that signature owes its dominant market position to the higher revenues it generates for the issuer (at the retailers’ expense, claim merchant coalitions). Reduce the price gap between the two and PIN should become dominant by virtue of its lower incidence of fraud.

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CheckAlt Gears it Check21 Service Toward CUs

CheckAlt Payment Solutions Check 21 service patent-issued technology can act as credit unions’ sole Check 21 provider for those looking to stand clear of corporate services. Despite recent changes made to the validation of check images and data by the Federal Reserve, CheckAlt Payment Solutions’ expertly designed software never missed a beat. Serving as a direct line to the Federal Reserve, CheckAlt remains up-to-date so institutions can rest easy knowing they are saving time and money. Funds are posted in as little as 12 hours and offer the lowest processing fees.

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August Monthly Payment Rate Slips to 13.11%

Monthly Payment Rate performance for the month of August was up .25 percentage points after having plummeted to its lowest in over 2 years last month. The August MPR improvement, compared to the year ago figure of 16.96%, is consistent with seasonal patterns and driven by seasonal factors as well as fundamental changes in cardholder payment trends. The slip is thanks in part to limited collection time, coming off the higher number of collections days during the July collection period. Compared to the July figure of 12.86%, MPR was up 0.25% month over month and looked much better then the year ago figure of 16.96%. Historically, the MPR sees a slight uptick in the summer months, as has been the case since the start of the current recovery, a trend lost last year with the onset of the recession. 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%
Source: CardData (www.carddata.com)

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Four Texas Banks Implement Fifth Third Processing

Four Texas-based financial institutions have inked agreements with Fifth Third Processing Solutions to implement single-sourced comprehensive processing services for ATM and debit card transaction processing, ATM driving, card production and gateway services. These banks include Granger National Bank, locally owned and operated with more than $25 million in assets; AimBank featuring delivery channels on debit cards, online bill payment, and Internet banking with more than $190 million in assets; Spur Security Bank, with more than $35 million is assets; and First State Bank of Bedias with more than $120 million is assets with two locations and two ATM’s. Fifth Third Processing provides innovative payment transaction processing and acceptance solutions for card and electronic payment. It processes over 33.3 billion ATM and point of sale transactions and over $315.5 billion in debit and credit card sales volume annually for more than180,000 merchant and financial institution locations.

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