GLOBALCOLLECT & MAGENTO

GlobalCollect payment service provider for local e-payments and Varien
have partnered to provide retailers global sales initiatives. Developed
by Varien, the “Magento” e-commerce platform is based on open source
technology that provides merchants with high levels of flexibility and
control over the user experience, content, and functionality of their
e-commerce channel and will now have access to a portfolio of local,
alternative, and international payment methods in over 200 countries and
for 170 currencies. The correlation between the number of payment
options and increased customer conversion rates is compelling retailers
to find solutions for accepting multiple types of payment and
international currencies.

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Peregrin Offers CARD Act Services

MD-based consultant Peregrin Services has opened its CARD Act compliant toll-free line for consulting creditors.
Peregrin’s platform offers creditors many choices in implementing their
CARD Act solution. In all applications Peregrin assures full time
availability through multiple site redundancy. Services will be offered
in a variety of ways starting with a Peregrin hosted environment that
will incur a low cost per minute charge and small monthly service fees,
to more enhanced options that will allow creditors to lease ports and
either use Peregrin resources to administer the calls or integrate them
into their own in-house systems. For creditors, the leasing and hosting
options will ensure cost certainty and furthermore makes certain that
callers can always connect. Peregrin urges creditors to have a solution in place by January 15 to
ensure compliance on February 22.

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POCZTOWY & COINSTAR

Coinstar remittance has signed agreements to offer money transfer
services in all Pocztowy Bank (Postal Bank) locations, the largest
banking network in Poland. With this agreement, Coinstar Money Transfer
becomes a key player in the Polish market and a new competitive money
transfer service for the Polish Diaspora. Coinstar Money Transfer
provides an easy to use, reliable and cost effective way to send money
around the world. The services are specially suited for individuals away
from home who need to send money to their family and friends or to
manage their personal finances. Coinstar Money Transfer Ltd. has become
one of the leading money transfer providers, with over 45,000 locations
and operates in 140 countries worldwide.

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RCM & GIVEX

The Royal Conservatory (RCM) and Givex gift card technology have
launched their gift card program. Targeting gift givers offering concert
tickets, the RCM gift cards can be used for any concert of the
recipient’s choice. Givex is innovative stored-value technology that has
driven customer acquisition and retention programs for clients in 35
countries since 1999 while the Royal Conservatory is the largest and
oldest independent arts educator in Canada. It is an
internationally-renowned centre for performance and learning providing
opportunities for personal development through music and arts education
in over 300 communities across and Canada and a dozen countries around
the world.

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XIRING & GEMALTO

Digital security provider Gemalto and XIRING have completed acquisition agreements and signed a banking contract for EUR20MM. XIRING EMV based strong authentication solutions
for e-banking and e-commerce has developed efficient technology and a
competitive range of solutions. With more than 12 millions solutions
already deployed in Europe, XIRING EMV based strong authentication
solutions for e-banking, e-commerce and all
activities of the banking business will be entirely acquired. The
contract includes the transfer of the technical and commercial team and
all the associated products, IP and technologies, on December 31 and has
no impact on XIRING non-banking activities or on other activities of
Gemalto.

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Credit Card Rewards to be a Challenge

A new study says that credit card rewards program profitability will continue to be a problem through 2013. Aite Group found nearly half of all consumers belong to a financial services rewards program, with 70% of all credit cardholders owning at least one rewards-based card. Rewards card ownership increases consumers’ credit card usage and purchase consideration, and even improves marketers’ ability to target customers. Loyalty program success has resulted in financial services firms’ seriously considering adding loyalty programs to other financial products, including debit cards. But, the profitability of debit card rewards programs varies widely depending on penetration rates, activation rates, program costs and increases in spending levels.

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Handset Data Transfer Capability a Concern

A new survey has raised concerns about the impact of handset POS data
loss. About one third of U.S. wireless vendors say they are finding
their customers were increasingly concerned about the potential for data
loss. NJ-based CelleBrite that 97% pointed to phone book data as most
crucial to customers, with camera phone photos prioritized second (42%)
and music and ringtones sharing an equal number of positive replies.
Functionality desired by carriers and retailers in synchronizing data
included the ability to back up users’ mobile data to a PC or online
distribution point (39%), and over-the-air data storage and backup
capabilities (34%). CelleBrite is a wholly owned subsidiary of the Sun
Corporation.

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BofA to End Credit Card Mandatory Arbitration

A four-year old lawsuit over the use of mandatory arbitration to settle credit card and debt collection disputes is heading toward an end. This week, Bank of America reached a tentative settlement to drop the arbitration clause and class action ban from its consumer and small business credit card agreements for at least 3.5 years beginning in 2010. BofA will also immediately stop enforcing the existing arbitration clauses against cardholders. A prior tentative settlement was announced with Chase in November. In June, the case was amended to add the National Arbitration Forum as a defendant. The lawsuit had accused BofA, Cap One, Chase, Citi, Discover, HSBC and others of having secretly met or consulted some 30 times for the purpose of requiring cardholders to arbitrate all disputes with credit card companies in violation of the antitrust laws.

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Trustcash Plans to Offer Direct Debit

Trustcash Holdings has successfully tested the Trustcash money transfer
service.
In the test, two Trustcash member accounts were created, Trustcash
tokens were
purchased by member A, tokens were transferred to member B and member B
was able to unload the tokens to their bank account as a real cash
credit. The system allows Trustcash accounts to be loaded and unloaded
via credit card and ACH. Direct debit options will be added in 2010.
Trustcash
developed a business based on the sale of a virtual stored value card
that can be used by consumers to make secure and anonymous purchases on
the internet. The company markets its Trustcash payment card, which is
sold in denominations ranging from $10 to $200 online. The Trustcash
card is the only “stored value card” produced where no personal data is
stored by or available to a vendor or merchant, providing a unique level
of both security and privacy to the purchaser.

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Adaco Software Tops $5B in Volume

Adaco software has processed $5 billion
worth of food and hotel supply purchases globally since January 12,
2009, a 60% increase over the past three years. It was also announced that Adaco will include an advanced vendor
punch-out interface using CXML and one year free access to a vendor
portal for all companies under $200 million in annual sales, or
educational institutions under 10,000 students, that purchase Eclipse
.NET™ hospitality management software by February 28, 2010. Adaco provides hospitality procurement, management and
optimization. Adaco software improves efficiency and eliminates
labor-intensive manual and paper-based processes. Adaco’s “Eclipse.NET”
supports 160 regions around the world, and the company’s solutions are
used at more than 600 properties in 54 countries.

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