73% of Shoppers Looking at Layway To Make Purchases

Layaway is re-emerging
in popularity with more than 73% of consumers stating that they
believe using layaway more often is a smart financial solution that can
help them better manage their spending. The current economic climate has stimulated consumer interest in
layaway, but today’s shoppers have realized layaway is more than a
recession-inspired tool, with 55.5% of consumers surveyed confirmed
they are interested in learning more about layaway as a year-round
financial planning tool. Consumers are looking for
smarter tools in money-management with 82.2% agreeing
that they would rather forgo the instant gratification of financing
their purchases in favor of using layaway. Retailer Kmart reported that its layaway program has experienced
double-digit growth since 2008 and the layaway program at Kmart
and at its sister company Sears has resulted in more than three million
new customer relationships in 2008 and 2009.

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INSIDE, Sagem Orga and TazTag Test NFC mPayment

Based on TazTag’s “TazCard,” INSIDE Contactless, Sagem Orga and TazTag have partnered for the development of pre-alpha testing for NFC contactless payment with full NFC functionality on other applications. About the size of an ordinary credit card, the “TazCard” Java-based handheld device is capable of supporting a variety of NFC applications and has been facilitated with INSIDE’s Java-based test payment application. This all on a Single Wire Protocol (SWP)-enabled SIM card developed by Sagem Orga, which is connected to the INSIDE MicroRead NFC controller built into the TazCard. The TazCard also utilizes INSIDE’s Open NFC™ protocol stack. With its 3.5-inch color touch screen, the TazCard is able to provide the user with a full NFC experience for payment and other NFC transactions. INSIDE’s third-generation MicroRead NFC chip provides the most mature NFC implementation.

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MOBILE COMMERCE

A new study forecasts that nearly half of all mobile phone users worldwide will pay by mobile for digital and physical goods by 2014, representing growth of nearly a billion users compared to 2010. The new “Mobile Payments for Digital and Physical Goods” by Jupiter Research reports found that segments such as ticketing and payments for physical goods are being spurred by the phenomenal take-up of apps coupled with the availability of multi-lingual versions of platforms such as eBay. Mobile payments are now becoming integrated into a wider mobile web shopping experience that includes browsing, coupons and advertising. The report uses an innovative new quadrant approach to compare the positioning of mobile payments vendors. The forecasts provide detailed five year regional data for mobile payments for digital & physical goods, showing key parameters including subscriber take-up, transaction sizes and volumes.

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Inside Contactless Offers Open NFC Available on SourceForce.net

INSIDE Contactless is making the Open NFC protocol stack more widely
available, placing the full source code and full API documentation on
SourceForge.net for free download. The source code for the core Open NFC
version 3.5 software – including Android, Windows Mobile, Linux and Java
(JSR-257) editions – and API documentation will be available on
SourceForge.net starting May 15. The Open NFC protocol stack brings
proven, high quality, well-documented NFC software into the open source
arena, providing a complete NFC middleware solution for mobile phones,
embedded products and other devices. It benefits device makers, software
developers as well as others in the mobile ecosystem in several ways,
providing greater impetus to implement NFC solutions across a broad
range of consumer products. This move extends INSIDE’s software stack as
the de facto open solution for NFC enablement on mobile devices.

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BANAMEX VISA

Banco Nacional de Mexico and VISA are introducing the Primer Prime National Football Team Debit Card. Combing features of the “Cuenta Perfiles Banamex” account with safe banking access, the Visa Perfiles Card supported by Banamex offers total flexibility. The fees plan: a monthly rent covering every transaction or paying for each one individually; Access to money: by debit card and/or checkbook; The card design: blue, silver or in the colors of the Mexican National Football Team; tax free returns on investments from $1,000 to $100,000 pesos; Safe Debit that protects your account balance from unacknowledged charges for up to $20,000 pesos, 72 hours before reporting the loss or theft of the card; and life insurance of up to $25,000 pesos and travel accident insurance of up to $75,000 dollars.

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HID Global Receives Shingo Operational Excellence Award

HID Global secure identity manufacturing facility has been awarded the Shingo Silver Medallion. The Shingo Prize is recognized as the premier award for operational excellence and articulates the characteristics of a successful world-class lean enterprise. HID Global was recognized for its exceptional business and operational achievements resulting from its customer-centered business process, manufacturing and support initiatives. HID Global’s Connecticut facility has a track record for executing manufacturing principles by fostering a long-term culture of continuous business improvement within its organization. Reduction in lead times, improvement in on-time delivery, reduced scrap and significant increases in shipments with an incremental increase in labor were noted as contributors to the North Haven facility’s award-winning performance.

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TAZCARD

Based on TazTag’s “TazCard,” INSIDE Contactless, Sagem Orga and TazTag have partnered for the development of pre-alpha testing for NFC contactless payment with full NFC functionality on other applications. About the size of an ordinary credit card, the “TazCard” Java-based handheld device is capable of supporting a variety of NFC applications and has been facilitated with INSIDE’s Java-based test payment application. This all on a Single Wire Protocol (SWP)-enabled SIM card developed by Sagem Orga, which is connected to the INSIDE MicroRead NFC controller built into the TazCard. The TazCard also utilizes INSIDE’s Open NFC(TM) protocol stack. With its 3.5-inch color touch screen, the TazCard is able to provide the user with a full NFC experience for payment and other NFC transactions. INSIDE’s third-generation MicroRead NFC chip provides the most mature NFC implementation.

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Regions makes ATM deposits quick and easy

Regions Financial is installing 323 image-enabled “DepositSmart” ATMs in select markets in Alabama, Florida and Tennessee in 2010. The imaging technology gives customers the freedom to make deposits 24 hours a day without envelopes or deposit slips. Customers simply follow the on-screen prompts to deposit checks and cash directly into the ATM, which reads the checks, counts the cash, and totals the transaction. Regions began piloting the technology in several markets in 2009, one of which was Tuscaloosa, Ala. The bank will be the first to deploy the ATMs broadly in Alabama. “DepositSmart” ATMs offer Quick credit for cash deposits; same-day posting of checks deposited before 6 p.m. local time on regular business days; itemized receipt lists the number and denomination of bills deposited and displays images of deposited checks; stacks up to 20 checks or 50 bills at one time for each deposit, or a combination of both with no envelope required; adds up multiple bills and checks and calculates the total deposit amount, no deposit slip needed; and the ATM screen displays a list of bills and images of checks to be deposited for verification and approval.

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AMEX YUAN CHECKS

American Express has made available its “Yuan Travelers Check” for international travelers visiting China. The Bank of China will become the sole encashment bank for this product within China, with which an American Express partnership signals a new era for travelers’ safety to China. Namely, travelers to China from Canada, India, Japan Korea, Malaysia, Singapore, the UK and USA will be able to purchase American Express Chinese Yuan Travelers Cheques in their home markets. The American Express Chinese Yuan Travelers Cheques can be encashed at more than 2,000 Bank of China branches and 1,600 partner hotels in China.

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PayPal Posts 35% Payment Volume Increase

Net total payment volume for the quarter was $21.3 billion, an increase of 35% year-over-year and 0% quarter-over-quarter. Global active registered accounts increased to 84.3 million, representing 15% growth for both year-over-year and quarter-over-quarter. During the first quarter, PayPal handled 337.0 million payments, a 2% increase over the prior quarter and up 33% from 1Q/09. Meanwhile, PayPal’s 1Q/10 transaction revenue rate increased to 3.59% from the prior quarter while the processing expense rate for the third quarter edged down slightly to 1.13% from the year ago rate of 1.16% and previous quarter’s 1.14%. The PayPal 90-day delinquency rate has hit a period low of 3.84% while net charge off rate dropped to 9.49% from the previous quarter’s 11.14%, but is up on the year ago period’s 8.95%. PayPal’s 1Q/10 net total payment volume increased thanks in part to its a deal with Facebook that allows users to select PayPal to buy virtual goods in the Facebook gift shop. Businesses around the world can also launch marketing campaigns on Facebook and pay with PayPal. For complete details on eBay/PayPal’s third quarter performance, visit CardData (www.carddata.com).

PAYPAL HISTORICAL
$VOLUME #ACCOUNTS
3Q/08: $14.8 billion 65.3 million
4Q/08: $16.0 billion 70.4 million
1Q/09: $15.9 billion 73.1 million
2Q/09: $16.7 billion 75.4 million
3Q/09: $17.7 billion 78.0 million
4Q/09: $21.4 billion 81.0 million
1Q/10: $21.3 billion 84.3 million
SOURCE: CardData (www.carddata.com)

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Fiserv Unveils 9 Aspects of Successful New Payment Products

Fiserv has released its research that focuses on nine characteristics that are the hallmarks of a successful new payments product.
Those traits include the following: The product must be completely electronic from initiation, to settlement,
to statements; must work everywhere, all the time; be intuitive, be secure to include two-factor authentication, end-to-end encryption,
firewalls and smart compartmentalization of data; be easy and informative; always be on and customizable.

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