Wells Fargo & Visa Introduce Fraud Alert Service

Wells Fargo and Visa have introduced “Rapid Alerts” for Wells Fargo Visa credit cardholders. Enabled by Visa’s transaction alerts platform, the “Rapid Alerts” free service allows consumers to better manage and track their spending while providing them with near real-time detection of potentially fraudulent activity. Sent on behalf of Wells Fargo directly from VisaNet, Visa’s global processing network, the alerts are typically initiated within seconds of a transaction. The “Rapid Alerts” are triggered when the transaction meets certain criteria previously selected by the Wells Fargo Visa account holder and delivered via text message or e-mail. Criteria for transaction alerts that cardholders may choose include transactions that exceed a chosen dollar amount; transactions initiated internationally; CNP transactions; cash withdrawals from an ATM machine; declined transactions; and gasoline transactions. The messages contain the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location.

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Stratus Rewards Visa Named MY YACHT F1 Luxury Card

At this year’s Monaco Grand Prix, Stratus Rewards Visa White Card has been named the Official Premium Credit Card & Rewards Program of the MY YACHT F1 Monaco at this year’s Formula 1 Monaco Grand Prix, May 14th-16th. Stratus Rewards by-invitation-only lifestyle club and credit card rewards system was created expressly to support and enhance the affluent lifestyle. Santa Barbara based Stratus Media Group is an owner, operator and marketer of live entertainment and sporting events and is primarily focused on internal growth and acquisitions within the live entertainment-related market.

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Info Security Products Awards Panoptic PCI Compliance

PCI compliance solution provider Panoptic Security’s “ExpertPCI” has
been awarded by Info Security Products Guide as the
winner of the 2010 Global Product Excellence Award in the compliance
category. “ExpertPCI” is a SaaS solution that helps businesses assess
whether or not they are PCI compliant and assists them through the PCI
SAQ process. Panoptic can support all sizes and types of businesses, but
its online web application was designed specifically for small to
mid-size businesses to make the PCI compliance process easier. Using
“ExpertPCI, merchants can quickly determine the right PCI Self
Assessment Questionnaire (SAQ) appropriate for their business and
receive all the necessary documentation. This includes completed SAQ,
PCI compliance validation and reporting, a custom remediation plan,
custom security policy and an incident response plan. Panoptic Security’s
solution is unique in the industry partly because of
its Vertical Specific POS Templates Program. This customized program
makes it possible for similarly grouped merchants, based on the POS
bundle, to achieve PCI compliance even easier and faster.

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Worldwide Merchant Services Offering Processing Savings Advice

Worldwide Merchant Services
medical pin based debit accounts provider is advising medical practices
seeking to accept payment cards to take advantage of fixed rates. These
rates are found on PIN based debit transactions and set at a flat rate which will be
drastically lower than any percentage based credit card swipe fee. In doing so,
WMS is advising medical merchants to ensure brokers do not raise this fee at any point
during the life of the contract unless the rates are actually raised by
VISA& MasterCard. There is no way for any merchant services
company to avoid raising the pin debit rates proportionally because the
entire industry will have to pay the new rates.

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PAYDAY LOANS

Payday loan company Lending Stream reports that more
people than ever are turning to short-term credit in the form of payday
loans as compared to other forms of bank loans and credit card options.
The value of a real loan can be experienced only when other sources fail
to turn into reality, and just one converts into money. This is an
authentic statement about short-term loans that just need a couple of
hours to transform from a need into hard cash. The range of options from
the initial filling up of the application form to the final transfer
into the bank account, promises customers an easy, reliable transaction. Payday loans are proving to
be the most effective source of credit during tough times.

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PlasmaTech Appoints New VP, Sales & Marketing

Pete Martin has been appointed PlasmaTech VP, sales and marketing. Bringing with him over 20 years’ experience in the card access and RFID industry, Martin offers PlasmaTech secure wireless solutions a wealth of knowledge in his new role. Martin founded Automatic Access Control (AAC) and Access Control Technologies, both of which specialize in RFID applications and both of which he sold by 1998. Then in 2000 Martin founded AAID Security Solutions, which grew to become one of the most prolific integrators of RFID solutions, and he has served as president of 1st Choice Security Systems RFID solutions since 2009 as a stocking distributor to a large reseller base. He has a B.A. from American University and a Master’s Degree in International Affairs from George Washington University. for consumer, industrial and government applications.

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CREDIT CARD FINDER

Credit Card Finder analysed Reserve Bank statistics reports that the average outstanding balance on credit cards stands at a record $3,250.60, up 3.3% on a year ago, and the strongest rate of growth in 13 months. However, while Australian consumers left more outstanding debt on their credit cards in December, they are more likely to pay off credit card debt without incurring interest charges or use debit cards instead. Of credit cards attracting interest charges, the average outstanding balance rose by just $7.40 to $2,303.00, a rise of less than one-third of 1%. The average balance accruing interest is 1.4% higher than a year ago. The smoothed (rolling annual average) measure shows 1.3%
growth in the average balance – the slowest growth on record.
The number of purchases made on credit cards rose by 15.2% in December, to stand 4.1% higher than a year ago. On average, the RBA statistics show that Australian consumers used their credit cards 10.6 times on average in December, slightly less than the record in December 2004. On average each Australian used their debit cards a record 6.4 times in December. The value of purchases made on debit cards (excluding cash-out transactions) totalled a record $11.8 billion in December, up 6.9% from a year ago. The number of debit card purchases was up by 11.1%.

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SunTrust Banks to Deploy Fiserv mBanking

SunTrust Banks has deployed the Fiserv “Mobile Money” mfinancial services. SunTrust will implement “Mobile Money” to enable clients to access their accounts using SMS (text messaging) or mobile browser technology, complementing a separate downloadable application that is already available, and to make available a variety of account alerts. “Mobile Money” supports users on all three mobile access modes, offering online and offline enrollment capabilities and integrating with core banking, online banking and electronic payments systems. The mobile banking offering combines banking and payments capabilities and includes functions such as balance inquiries, transaction history, account transfers, bill payments, one and two-way account alerts and ATM/ branch locating. “Mobile Money” secure application uses data encryption, along with additional risk management safeguards and incorporates technology from Atlanta-based M-Com mbanking and payments solutions.

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GiftCards.com Launches Corporate Prepaid MasterCards

GiftCards.com is offering “Print on Demand” production for Prepaid MasterCard cards to its corporate clients. In addition and to compliment the customized prepaid cards, the company is also offering customizable greeting cards for corporate customers to use when giving the product to recipients. The addition of the MasterCard-branded prepaid card product line gives GiftCards.com a significant advantage in the prepaid industry. The “Print on Demand” solution offers card issuers and program managers more flexibility to produce fully customized cards within days with no inventory costs or minimum commitments. GiftCards.com provides gift cards to consumers and corporations to expend as gifts, rewards, or incentives.

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11% of Banks Initiate New Debit Overdraft Program

A new survey from IL based Moebs reveals more than 1800 banks and
credit unions made changes in how they handle overdrafts since Regulation E,
mandatory opt-in for debit card and ATM overdrafts. Of depositories
surveyed, 11.0% started a new overdraft program,
11.4% either increased price, decreased price, began offering or stopped
offering overdraft service while 13.5% opted out of offering overdrafts. Among financial
institutions that changed their practices, 18.4% did so
by decreasing their OD price. These results come from a nationwide
statistical survey of more than
2,000 banks and credit unions conducted in early March 2010. Moebs Services
has been collecting and analyzing primary empirical data about financial
institutions’ services, pricing, operating expenses and financial
conditions.

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RF IDeas Licenses Genuine HID Technology

RF IDeas proximity and contactless badge reader solutions, has entered into a license agreement with HID Global, the trusted source for solutions for the delivery of secure identity, to use HID proximity technology in RF IDeas’ AFP2 platform of card readers. This extends the strong business relationship that RF IDeas has had with HID Global for more than a decade. It allows RF IDeas to manufacture a wide variety of HID Prox and Indala proximity card readers across several industries and markets. RF IDeas pcProx readers are used with more than 300 million cards and nearly all card manufacturers worldwide. RF IDeas plans to expand HID proximity card reader offerings in multiple form factors including USB dongle, PCMCIA readers and more.

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XceedID and RF IDeas Form Technology Partnership

XceedID contactless cards and readers has partnered with RF IDeas desktop contactless reader solutions to offer customers proximity and secure contactless smart card solutions. For both at the door and desktop, the contactless smart card solution provides users hundreds of applications using their proximity and smart card USB, RS-232, Ethernet desktop and embedded readers. When paired with XceedID’s award winning line of multi-technology readers, customers now have access to complete contactless solutions. IL based RF IDeas designs, develops, and manufactures card readers that support nearly every proximity, contactless smart card and magnetic stripe card technology worldwide. Meanwhile, CO based XceedID is highly experienced with contactless technology applications and combines the expertise of industry leading design, engineering, and product/sales development veterans.

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