TOT & GEMALTO

Mobile telephony provider TOT has selected Gemalto to enhanced TOT’s 3G network.
The deployment of the Gemalto Over-The-Air platform provides TOT with multiple benefits. With Gemalto’s OTA platform, TOT subscribers can enjoy more value-added services that are more accessible and easier to download over-the-air, including internet and MMS applications via OTA. With 3G’s broader bandwidth capabilities, TOT will be able to communicate with their subscribers through high-speed data channels while subscribers will enjoy faster access to the network. TOT can stay in touch with its customers while reducing the cost and hassle of frequently replacing USIMs as services evolve. TOT can update the USIMs with both operator and subscriber-centric applications based on subscribers’ needs, such as updates for service subscription, roaming lists and data management.
The complete Gemalto Over-The-Air system was delivered and installed in Bangkok in March 2010. The USIM cards have already been deployed since November 2009, to coincide with TOT’s 3G launch on December 5, 2009.

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CARD DIRECT MAIL

Direct marketing analyst Mintel Comperemedia report Canadian credit card acquisition direct mail volumes drop a staggering 57% from the all time high in 2008, of nearly 350 million pieces, down to barely surpassing 150 million in 2009. One in four Mintel respondents say reward programs with points are most important, while reward programs with miles and wanting to build credit come in at 22% each as the next most mentioned influencers when choosing a card. In just the last year, the share of Canadian mail for rewards cards has increased from 44% to 69%. Mintel Comperemedia expects to see a rebound in marketing direct mail in 2010. With the current low direct mail volumes, there is an open door for credit card institutions to gain a competitive advantage with direct mail.

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VERSAPAY

VersaPay Corporation has granted incentive stock options to one of its Directors to purchase
68,000 common shares in the capital stock of the
Company pursuant to the Company’s approved share option plan. VersaPay’s
proprietary technology enables businesses and consumers to accept and
process credit, debit and gift card
transactions. As a payment services and financial technology company
serving over 3,000 Canadian businesses, VersaPay, in conjunction with
its partners, provides the hardware, technology, infrastructure and
support services that businesses of all types require to accept and
process electronic payments from their consumers and clients.

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C$ cMoney and US Dataworks Announce Strategic Alliance

C$ cMoney and US Dataworks have forged a strategic alliance for shared technology and support of the upcoming product launch of the C$ cMoney mobile payment application. The agreement was negotiated on behalf of C$ cMoney’s by its investment banker of Pythagoras Group. Terms of the strategic alliance agreement were not released other than C$ cMoney agreed to pay an upfront payment for a license and a warrant position. This partnership is also to create vertical synergies. TX-based C$ cMoney allows users to send money and pay for goods and services using a cell phone and the text messaging system while eliminating the risk of identity and credit card theft. It can be used anywhere that cash, checks or credit cards are accepted.

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Moody’s Upgrades BofA $57.8B Credit Card Securities

Moody’s confirms and upgrades ratings on Bank of America’s credit card securities with approximately $57.8 billion of asset-backed securities affected.
These rating actions are driven by the March 31, 2010 execution of amendments to further enhance BAC’s outstanding credit card securities.
Essentially, subordination beneath BACCT’s Class A, B, and C notes would change to approximately 31.75%, 22% and 13% from 22%, 15% and 9%.
Similarly, for Master Trust II transactions, the rated Class A and B bonds will have 31% and 25% subordination, up from 22% and 15%, respectively. Collateral performance, especially with respect to charge-offs and delinquencies, has started to demonstrate early signs of stabilization.
Even so, Moody’s expects the gross charge-off rate will remain elevated for some time and has revised its expected range to 12% -15% from 11% – 14%.

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VeriFone Selects Chase as Preferred Processing Partner

Chase Paymentech has been selected as the VeriFone preferred provider of new merchant accounts for VeriFone’s PAYware Mobile iPhone card buyers. The VeriFone payment solution is to be sold through Apple Retail Stores and the Apple Store online beginning April 6. VeriFone’s sleek and durable card reader slips over iPhone to accommodate card swipes and allow merchants to avoid high-cost CNP fees. It incorporates a stylus for signature capture and a mini-USB port for charging iPhone while the ergonomic reader is attached. The PAYware Mobile card encryption sleeve incorporates VeriFone’s end-to-end encryption technology and ensures secure payment processing. Users also gain access to the “PAYware Connect” gateway, fully
customizable and ideal for small businesses.

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MASTERCARD

MasterCard Canada’s Advice to Canadians Who Purchased Flight Tickets from Skyservice with their MasterCard Credit Card. MasterCard Canada is advising Canadians who purchased flight tickets with their MasterCard credit card and are unable to obtain a refund for cancelled flights, to contact their card issuer by calling the phone number on the back of their credit card. If you do not receive the goods or services you purchased with your MasterCard credit card then you’re entitled to a refund of those funds. It is important to gather all the information – receipts, copies of tickets, etc. – and contact your card issuer as early as possible so your issuer can review your situation on an individual basis.

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Sage North America & Trustwave Help SMBs With PCI DSS Compliance

Sage North America announced it has partnered with Trustwave to implement a comprehensive and cost-effective PCI DSS compliance program for small and midsized businesses. All businesses accepting credit or debit card payments should be validated PCI DSS compliant. The partnership between Sage and Trustwave will provide SMB merchants preferred pricing for the “TrustKeeper 3.0,” Trustwave’s industry-leading PCI DSS compliance web portal. “TrustKeeper 3.0” makes compliance validation efficient for SMB merchants, including non-technical users. Using the dynamic PCI Wizard in conjunction with “TrustKeeper Agent,” SMB merchants work through a personalized, guided interview that reduces the complex terminology of PCI into understandable actions to ensure they aren’t storing unencrypted cardholder data or track data. Trustwave on-demand and subscription-based information security and payment card industry compliance management solutions helps companies manage compliance and secure their network infrastructure, data communications and critical information assets.

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OPEN SOLUTIONS

Payment processing platform provider Open Solutions Canada,
has signed an agreement with Acxsys Corporation, to provide ABM
transaction processing services to Diners Club International(R), Discover
and PULSE cardholders in Canada. Through this agreement, Open Solutions Canada, the acquirer, operates ABMs, accepts the designated cards, and processes the transactions on
its POSHnet(R) network through the Interac(R) network. POSHnet is one of
Canada’s largest white label ABM and POS payments switches and
processing centres, which provides service to more than 35,000 white
label ABM and debit/credit and value-added payment terminals in merchant
locations across Canada. This relationship enables Diners Club, Discover and PULSE cardholders to
withdraw money from ABMs on the Interac network while in Canada.

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Moody’s Rates GE Capital 2010-2 Credit Card Deal

Moody’s has assigned provisional ratings to GE Capital 2010-2 Credit Card Deal with the rating of $250 million in Asset-Backed Securities.
The rating is based on the quality of the underlying pool of credit card
receivables, the expertise of the originator, GE Money Bank, and the servicer, GE Capital Corporation, (Aa2/P-1), the transaction’s legal and structural protections, including early amortization triggers, credit enhancement in the form of a spread account for the primary benefit of the Class C notes, and the Excess Collateral Amount. The Trust consists of private label and co-branded credit card
receivables generated on accounts originated and underwritten by GE Money Bank. Retailers which are currently included in the Trust portfolio are, among others, JCPenney, Lowe’s, Sam’s Club, Wal-Mart, Old Navy, GAP, Banana Republic, Dillard’s, Paypal, and Belk. Approximately 50% of the receivables in the portfolio emanate from accounts with an age greater than 60 months.

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Western Union Offers Remittance at Giant Eagle

Western Union is now offering Money Transfer Services to PA-based retailer Giant Eagle. Western Union services will be available at participating Giant Eagle, Market District, Giant Eagle Express, and GetGo Agent locations starting April 1, 2010. All participating stores will offer Western Union Money Order payment instruments and many locations will allow consumers to send their bill payments using the Western Union Convenience Pay service, all while grocery shopping. The new multi-year agreement between Western Union, a leader in the money-transfer segment of global payments, and Giant Eagle, one of the nation’s largest food retailers and food distributors, will connect consumers to more than 364,000 Western Union Agent locations worldwide.

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MainStream Merchant Launches MainStream Assurance

Payment solution processor MainStream Merchant Services has introduced
“MainStream Assurance” business continuity program that ensures prompt
replacement of POS terminals and automatic reordering of terminal supplies.
Unlike similar programs from other payment processing providers,
MainStream Assurance also includes free terminal supplies, to ensure
full business continuity. In addition to credit card processing, MainStream’s comprehensive suite
of merchant payment solutions includes the latest in POS terminals,
custom gift card processing, PC and Web-based credit card processing and
merchant cash advance and check guarantee and check conversion services.
MainStream Assurance enables merchants to quickly receive a new credit
card terminal should their existing one fail for reasons other that
normal wear-and-tear.

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