XOOM.COM

Xoom Corporation internet-based global money transfer company has
expended service to South Korea, allowing customers to send money online
directly to any bank account in the country. This expands on Xoom.com’s
initiative to provide immigrant communities fast, easy, convenient and
affordable alternative money transfer options. Founded in 2001, Xoom.com
allows customers to send money to 41 countries around the world, from
any internet-enabled computer using a credit card or checking account.
It’s availability in South Korea is in addition to availability in
China, India, Philippines, United Kingdom, South Africa, Mexico, and
Brazil, among others.

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Credit Card ABS Metrics Improve Tepidly in Oct

Fitch Ratings has published ‘Credit Card Movers & Shakers’ containing October 2009 performance.

Late payments on outstanding U.S. credit card balances rose again in October, falling just shy of record highs as U.S. consumers continue to struggle with debt loads amid the weak employment situation.

Detailed in Fitch’s latest Credit Card Performance Indexes, the results show late payments rising to their highest levels in five months and indicate higher chargeoffs in the months to come.

However, during October, Fitch’s Credit Card Chargeoff Index declined 66 bps to 10.09%, marking the third consecutive improvement. The three-month average excess spread also showed further improvement, increasing by 50 bps to 6.25% for the fourth consecutive month to its highest level since October 2008.

Despite the ongoing unfavorable trends, Fitch expects continued stability for current ratings of senior credit card ABS tranches given available credit enhancement and structural protections afforded to investors. The outlook for subordinate tranches remains negative. Fitch expects U.S. unemployment will peak at 10.3% in second-quarter 2010 and remain above 10% throughout 2010.

‘Credit Card Movers & Shakers’ is available on the Fitch Ratings web site at ‘www.fitchratings.com’ under the following headers:

Structured Finance then ABS then Newsletters

Additional information is available at ‘www.fitchratings.com’.

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RushCard Adds a Prescription Drug Card

RushCard holders are eligible to receive a free prescription drug discount card.
At RushCard.com, cardholders can search for and locate participating
pharmacies and drug prices in order to plan ahead and find their best
price. The prescription drug discount program will be accepted at more
than 56,000 participating pharmacies nationwide, including chains and
independent pharmacies. Interested members can receive discounts of 10 to 85% on their
generic and brand name prescription drugs. Members can enroll in the
free program through their online RushCard account. The discount card
can then be printed and taken to the cardholder’s pharmacy of choice
along with a prescription to receive the discount. OH-based UniRush LLC was created to offer the over
48 million Americans without access to a traditional banking
relationship an array of basic financial services via the Prepaid Visa
RushCard.

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NEOVIA & JAXX

NEOVIA Financial independent global online payments business has made
available its Payment Suite to JAXX gaming companies. Offering
additional payment options across its gaming sites, JAXX offers lottery,
casino, poker and sports betting through its subsidiary companies. The
NEOVIA Payment Suite features the “NETBANX” international payments
gateway, the NETELLER “e-wallet” and “Net+” cards, allowing merchants to
accept card and non-card payments through multiple channels including
online, contact centres, mail order and via automated phone systems. The
NETELLER “e-wallet” allows consumers to spend securely online as well as
allowing merchants to increase customer lifetime value while “Net+”
cards allow merchants to extend customer loyalty and lifetimes.

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TNS Releases a Risk Literacy Survey

Data communications provider TNS has certified the Hypercom “Optimum
M4230 mobile and T4230” countertop terminals for TNS’ Synapse wireless
payment gateway. Synapse is a wireless payment gateway and management solution that
enables ISOs, acquirers, and processors to manage their wireless
terminal portfolios. The “Optimum M4230 and T4230” offer long range GPRS connectivity through
the Synapse payment gateway to processor TSYS. The terminals are PCI PED
and MasterCard PTSP approved, and feature powerful 32-bit
multi-application processing with a fast V.34 modem.
The Synapse solution includes wireless network access, account
activation, fast, reliable and secure transaction delivery to most major
processors, web-based merchant and terminal management, customizable
online reporting, and live 24×7 customer service. Using a PCI DSS
certified processing environment, it offers a broad range of end-to-end
services. Adding the Hypercom Optimum terminals to the
portfolio of certified devices on its Synapse gateway, is part of TNS’
active investment program to enhance the platform and offer its
customers more choice in the way they accept payments.

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FinTech 100 Ranks Diebold #4 for ATMs

Diebold was ranked number four in the 2009 global FinTech 100 ranking of service providers to the financial services industry.
The FinTech 100 ranking, developed in conjunction with American Banker,
Bank Technology News and research firm IDC Financial Insights, seeks to
recognize companies for their overall contributions to the financial
services industry through products, technologies and services, rather
than ranking them by quantity of products shipped. The ranking drew from
two major categories: financial technology companies that derive more
than one-third of their total global revenue from the financial services
industry; and enterprise technology companies, those horizontal
technology companies that sell and support multiple industries.
According to a recent Aite Group report, “Building a Better ATM Channel:
Who Said it Would be Easy”, a survey of 23 of the top 80 U.S. banks
reports Diebold ranks first in number of U.S. deployments among surveyed
banks. In the same study, Diebold also leads for software deployments and ATM
servicing share, among surveyed banks.

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EZIO CLASSIC

Serbian-based Banca Intesa has selected the Gemalto “Ezio Classic”
reader to secure e-commerce services. Customized with Banca Intesa’s
visual corporate identity, the “Ezio Classic” allows users to make
online purchases with the security level guaranteed by the EMV banking
card while protecting them from “card non present” fraud in e-commerce.
Gemalto deploys one of the world’s first smart-card based strong
authentication solutions used for securing e-commerce. By inserting
their banking card into the reader and enter their PIN code on the
keypad, “Ezio Classic” generates a One Time Password they type in to
securely make e-commerce purchases, allowing shoppers to buy a wide
variety of goods with the highest level of security.

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First Data Finds Gift Card Volume Rising 7%

The total dollar value of gift cards have grown 7% while the total dollar value of gift cards activated have grown 4.4% Y/Y. The number of gift cards activated grew modestly by 2.3%, consistent with First Data’s forecast for the holiday season, while the average gift card amount was up 2% Y/Y. Restaurant gift cards, which tend to be purchased in smaller denominations, made up a larger percentage of all cards activated this week compared to last week.

GIFT CARD $ AMOUNTS 08/09 %-/+
ALL CARDS: 31.48/32.10 2.0
BF WEEK: 36.83/39.50 5.7
SPECIALTY: 43.87/45.77 4.3
RESTAURANT: 18.20/18.35 0.8
Source: First Data

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Movitas Acquires PhindMe Tool

PA-based mobile marketer Movitas has acquired web tool provider PhindMe. The PhindMe
platform includes mobile communication and marketing solutions for
marketing agencies, optimized for all browser-based mobile devices, and
a direct-to-business mobile solution, branded “Everywhereigo”. The
acquisition enhances the capabilities of Movitas, a provider of
real-time mobile communication, marketing and commerce solutions for
location-centric businesses.
Movitas solutions include content management,
messaging, commerce, logistics, workflow, and internet based
administrative tools that can integrate into property management (PMS),
central reservation (CRS) and point of sale (POS) systems.

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U.S. Consumers Paying Credit Cards Over Mortgage

After historically disclosing the mortgage as the bill always paid
first, U.S. consumers are now ranking credit cards as a higher repayment
priority. The most recent research demonstrates US consumers are now
placing their mortgage payments as a second-rate priority. The research,
collected from a survey of 430 credit card users conducted in October
2009 conducted by Auriemma Consulting Group’s Cardbeat, ultimately
concludes credit has become tighter. With issuers more willing to cut
credit lines, cardholders are more astute one missed or late payment can
trigger rate increases or account closure. At the same time, ACG
concludes mortgage foreclosures have become common and many consumers
have ‘underwater’ mortgages for more than the current value of their
home, thus it’s more important to be current on credit cards than
worthless mortgages.

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InComm to Offer Western Union GoCash

Western Union has teamed with GA-based prepaid card provider InComm to offer the
“Western Union GoCash” in-lane prepaid money-transfer service.
The InComm agreement builds upon Western Union’s prepaid go-to-market
strategy in the United States, and complements Western Union’s consumer
experience by giving consumers the convenience of being able to pay for
a domestic or global money-transfer while shopping at select locations.
With the GoCash service, consumers will have the option to select any of
three prepaid amounts ranging from $50; $100; and $200. GoCash can be
purchased for both domestic and international money transfers. Once
purchased, the sender will need to complete the transaction over the
phone through a Western Union customer service representative and
provide the money-transfer information to the receiver.
InComm partners with more than 150,000 retail locations. Through its
relationship with InComm, Western Union can offer the convenient GoCash
service to consumers through many of these grocery and convenience
stores, pharmacies, or mass merchandiser locations.

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