Totaldebtrelief.net Recommends Avoiding Bankruptcy

Totaldebtrelief.net is recommending debt settlement as an alternative to bankruptcy.
As has recently been made public by FICO, a bankruptcy filing will cause the consumer’s credit score to drop by up to 260 points and will remain on the consumer’s credit record for 10 full years. During this time it will be virtually impossible to obtain needed credit. Consumers who file bankruptcy can also expect to be required to pay hefty fees when requesting future utilities such as gas, electricity, home phone, cell phone, water, etc. The consumer who files for bankruptcy can also expect to be denied an apartment rental as well as possibly be passed over for a job, as more and more employers these days perform credit checks as part of their routine job applicant screening process. When it comes to debt consolidation/home equity loans, what the consumer in fact is doing is exchanging unsecured for secured debt — thereby risking losing their home if they are unable to make their home equity loan payments. The most effective debt relief program in existence today is known as Debt Settlement. This program achieves debt elimination of 50% or more in almost all cases without the need for a bankruptcy filing.

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FIRSTVISION

First Data electronic commerce and payment processing converted National Bank of Kuwait’s credit card portfolio to “FirstVision” global issuing and consumer finance processing solution, in conjunction with the renewal of First Data’s processing contract with the bank for an additional five years. The contract stipulates First Data will continue to provide a range of processing solutions and fraud management services to the bank for its credit card portfolios. National Bank of Kuwait has been a First Data client since 2001 and conversion to FirstVision has enabled the bank to expand further beyond its domestic market and offer credit cards in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates.

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INSTANT CITI REWARDS

Citi’s “Instant Citi Rewards” program has been introduced to its more than one million credit cardholders in the Philippines. The program allows cardholders
instant reward redemption at many stores and restaurants nationwide when cardholders use Citi Classic Visa and MasterCard, Citi Gold Visa and MasterCard and Citi
Platinum Visa to pay for up to 50% of their purchases. The “Instant Citi Rewards” can be used when the cardholder informs the merchant that partial payment
will be made with Citi Rewards Points. Any portion of the bill can be paid using accumulated points and the rest to their credit card. There are no expiration
dates for Citi Rewards Points and users can enjoy exclusive privileges at partner establishments.

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GEMALTO

Gemalto digital security has provided a secure procedure to customers in Germany to address the card outage on New Years, which was verified and approved by the German banking authorities on January 7. Keeping the concerned EC cards and credit cards fully compliant with the German card banking system, Gemalto is supporting bank customers in resuming full normal operations, creating a strong secure software solution concerning the affected cards to avoid reissuing. Gemalto will book a special provision to cover the potential consequences related to this event, somwhere in the range of 6 to 10 million euros as part of 2009 results, modifying accordingly Gemalto’s expectation of around 180 million euros adjusted EBIT for the year by the same amount.

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Epicor Launches Secure Card Data Manager

Enterprise software solution provider Epicor has released the “Epicor Secure Data Manager” integrated system validation for payment card security. Epicor Secure Data Manager is a comprehensive standalone
payment-handling solution that achieves single Payment Application Data
Security Standard (PA-DSS) validation across multiple retail systems
while also providing authorization and settlement functionality.
With Epicor SDM, payment card information is
securely stored in a central repository where PA-DSS requirements are
consolidated and managed. By handling data from inception through storage, Epicor SDM maintains data privacy by providing
neighboring applications with a token for reference rather than specific
credit card details. Connected systems then pass this token into the
data stream, and Epicor SDM utilizes the token’s data to determine the
credit card information needed for processing each transaction. In addition to integrated system validation, Epicor SDM also includes
Authorization and Settlement features, including Centralized Key
Management, Secure Data Service for encrypting securing data, Secure
Payment Service for storing and retrieving payment records, and Payment
Capture Service for Point-of-Sale transactions.

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Arcot Offers MasterCard Solution to Battle CNP Fraud

Arcot has introduced its “ArcotOTP” EMV authentication solution for cardholders to authenticate “Card Not Present” transactions using their mobile phones to lower the cost of providing EMV authentication. Increasing convenience for cardholders on the go, “ArcotOTP” can be used by the hundreds of millions of EMV cardholders and allows them to use their mobile phones to secure e-banking, e-commerce, and telephone orders, among others. The mobile application combined with the Chip Authentication Program solution from MasterCard, increases security, reduces the risk of fraud and makes it easy for cardholders to shop or bank online. It also extends the range of devices available for MasterCard CAP authentication and provides customers the ability to authenticate with an application on their mobile phones, which now can be used in place of the card reader to generate the single-use password.

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First Data Converts Kuwaiti Credit Card portfolio to FirstVision Solution

First Data Corporation electronic commerce and payment processing has converted the National Bank of Kuwait’s credit card portfolio to its own “FirstVision” global issuing and consumer finance processing solution. With this conversion comes the renewal of First Data’s processing contract with the bank for an additional five years. The contract stipulates First Data will continue to provide a range of processing solutions and fraud management services to the bank for its credit card portfolios, allowing the bank to expand further beyond its domestic market. With this, NBK plans to offer credit cards in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

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NET1

Net1 Universal Electronic Technological Solutions of Net1 UEPS Technologies has secured agreements with the Iraqi government, having enrolled its one millionth beneficiary in January. Net1’s UEPS system was implemented in Iraq in August of 2008 and is currently used for the distribution and payment of government grants to war victims, government pension payments to beneficiaries, salary and wage distribution and payments to employees of the two state banks. Net1 expects to deliver the newly ordered cards over the remainder of fiscal year 2010. Net1 provides its universal electronic payment system (“UEPS”) as an alternative payment system for the unbanked and under-banked populations of developing economies, consisting of an estimated four billion people.

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Stratus Rewards Sponsors The British Academy of Film and TV Arts/LA

Stratus Rewards of Stratus Media Group has partnered with The British Academy of Film and Television Arts / Los Angeles (BAFTA) in which Stratus Rewards will be the official credit card and presenting sponsor for BAFTA/LA for the coming year. Kicking off the annual Tea Party before the Golden Globe Awards on January 16 at the Beverly Hills Hotel, the partnership intends to expand awareness of Stratus Rewards to those who desire luxury, access and exclusivity, while providing members unique BAFTA experiences and exclusive access to key events over the coming year. Stratus Rewards, a by-invitation-only lifestyle club offering a globally accepted credit card, was created to support and enhance the affluent lifestyle and forge new territory through club partnerships.

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Tier One Retailers Adopt ACI On Demand & Server

ACI Worldwide has added a number of “tier one” retailers with its “On Demand”
service and the “ACI Retail Commerce Server” version 4.6. In 2009, ACI’s growing
On-Demand service offer added a top-ten US grocer
and a top-15 quick service restaurant to this market-leading solution.
Additionally, ACI renewed contracts for two of the world’s largest
retailers. Another noteworthy addition to ACI’s retail customer base is
a top-25 US grocer. In September 2009, ACI made Retail Commerce Server version 4.6 available
to the market. Retail Commerce Server provides enterprise payment
acceptance authorization, switching, rewards and loyalty management,
gift and stored value card management, and enhanced loss prevention with
refund and check authorization tools. Retail organizations manage their
electronic payments with an integrated suite of product solutions from
ACI allowing them to execute a comprehensive and strategic electronic
payments and loss prevention program. The new version, responding to customer demands for ever-higher system
availability, delivers dual site processing in a real-time environment
using an active:active configuration. This means that retailers, for
whom Retail Commerce Server is critical to their store systems, can
ensure 100 percent availability of their payment system, gift card,
loyalty and risk management tools. It allows two instances of Retail
Commerce Server and two instances of databases to run as companions and
have the databases replicate data in seconds.

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HP Unveils ap5000 Touch-Enabled POS All-in-One System

HP has introduced the “HP ap5000” touch-enabled POS
system. The “HP ap5000” All-in-One POS System features a
self-contained combination of products that removes the guesswork for
retailers wanting to create a comprehensive POS hardware solution. The
compact system maximizes work space and includes a central processing
unit, touch-enabled display, magnetic stripe reader and either a
two-line customer display or a 10.4-inch LCD customer display to enhance
promotional activities. The high-performance “HP ap5000” is built to handle the rigorous demands
of retail environments. Its space-saving design requires only one power
outlet, reducing cable clutter and making it ideal for retailers
requiring a sleek design for customer-facing areas, such as hospitality
and specialty retail environments.

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Credit Card Debt Up by More Than 30% in Five States

Throughout the second half of 2009, nearly every region in the United States took on more credit card debt, having climbed by more than 30% in five states. This includes Indiana where credit card debt increased by 39%; Michigan where it shot up 30%; Oklahoma up 32%; Pennsylvania by 30%; and Tennessee where debt was up 34%. This, according to CreditKarma, shows the average consumer has $8,079 in credit card debt; $184,940 in home mortgage loans; $53,744 in home equity loans; $14,899 in auto loans; and $26,692 in student loans. Additional findings show credit card debt increased 18% nationally from July amongst cardholders, most felt in the The Philadelphia MSA where credit card debt shot up 40% since July. This increase in debt subsequently had a negative impact on the consumers’ credit scores, having dropped two points throughout the half and six points since the beginning of 2009 to average at 671. The Los Angeles MSA consumers increased their credit score by one point to 693; in the Boston MSA credit scores dropped an unprecedented 15 points to 692; and Ohio consumers have seen the least amount of volatility in credit scores, where they dropped just one point since the beginning of 2009 to average at 661.

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