The ABA reports that bank card delinquencies rose 26 basis points to a record 5.01% of all accounts for the second quarter. Delinquency rates hit record quarterly highs in three key loan categories: home equity loans, home equity lines of credit, and bank cards. The composite ratio, which tracks eight closed-end installment loan categories, also hit a record high at 3.35% of all accounts (seasonally adjusted) compared to 3.23% of all accounts in the previous quarter. The ABA report defines a delinquency as a late payment that is 30 days or more overdue.Details
GuestLogix and JETERA have signed strategic agreement to provide
personalized advertising on receipts printed by GuestLogix POS handhelds
and viewed on devices used by travellers. Delivered through the JETERA
targeted content delivery system on GuestLogix’ “Ads by OnTouch,” the
ads are automatically generated whenever a passenger makes a purchase.
“Ads by OnTouch” targets the two million passengers in the air at any
given time, which represent nearly 90% of the world’s wealth, with more
than 20,000 GuestLogix POS handhelds onboard global carriers. Using
unique pricing-model segmentation and combining it with proprietary
analytics, JETERA is able to place each traveler into extremely
well-defined marketing groups, enabling marketers to select the best
prospects and align their messages with the people mostly likely to buy
their products and services.
Payday advance provider FastWire reports an uptick of new customers seeking emergency financial solutions.
The worst hit by the credit card reforms are consumers in the sub-prime market
that are living paycheck to paycheck, who are
struggling to pay their bills on time and are seeing little help from
the banks. Payday loan lenders are regulated, legitimate companies that help
consumers get short-term, emergency financial assistance
Our customers are honest, hard working adults who hit a financial
problem and didn’t have a safety net. Payday loans may be one of the few options left for financially stressed
consumers. While many critics might complain that payday lending has
grown out of the aggressive marketing, the reality is that banks are
pushing away these consumers and payday loan lenders are stepping in to
fill the gap that has been left. The typical fee charged for a payday loan is usually less than a
consumer would have to pay for bounced check fees and or late credit
card payment fees. Depending on state regulations, a payday loan lender
can sometimes extend the repayment period. For some consumers, payday
loans are becoming the economical solution.
Beanstream Internet Commerce has delivered its customized online order
management system for ScotiaMocatta, a division of Scotiabank. A
subsidiary of LML Payment Systems, which provides financial payment
processing solutions for e-Commerce and traditional businesses,
Beanstream hosted webstore solution will provide payment card INTERAC
Online processing for the ScotiaMocatta online precious metals eStore.
Additional Beanstream services such as consumer authentication and
extensive back-office reports are included to provide the Bank with a
robust, secure online solution for the global bullion market. Scotiabank
has close to 69,000 employees and serves approximately 12.8 million
customers in some 50 countries around the world.
Transaction monitoring provider Oversight Systems has surpassed the
$500 billion mark in customer transactions monitored. Oversight’s software works by analyzing every step in the business
process to identify issues costing organizations hundreds of thousands
of dollars, while streamlining and automating “manually intensive”
reconciliation, auditing and quality assurance efforts. Oversight offers
broad out-of-the-box data integration with leading ERP and financial
systems including SAP, Oracle’s E-Business Suite, PeopleSoft, JD
Edwards, QAD’s MFG Pro, American Express, MasterCard, Visa, Concur,
Infor’s Extensity, Mincom Ellipse, Lawson and BMG Seltec. Oversight’s
software optimizes accounting and auditing functions while saving
leading organizations worldwide millions of dollars annually through
detecting errors, identifying policy violations and preventing fraud.
One World Ventures signed agreements with NuPay System to recruit NuPay
Processor, Settlement Bank & POS Terminal Maintenance Company of China
Union Pay (CUP) Cards in Southern California. CUP issues the CUP card,
which has over 1.73 Billion payment cards in circulation after having
grown 18% Y/Y. One World will now recruit the best NuPay processor,
settlement bank & POS terminal maintenance company and profit share with
NuPay for the services of both credit and debit CUP card transactions
through NuPay in Southern California. China Union Pay is the only
national payment network in China, with more than 1 billion cards issued
on its network.
GA-based Radiant Systems has implemented its POS technology
with NJ-based Legends Hospitality. The Radiant solution implemented at the new stadium includes more than
600 POS hardware terminals equipped with customer order displays and
Epson TM-T88IV printers as well as software supporting foodservice
operations for the stadiumâs concession stands, bars, kitchens and
suites. The new three million square-foot Cowboys Stadium has a capacity
of up to 100,000 people and offers fans nearly 850 concession points.
Stadium operators are using inventory management to run a commissary
that provides food to individual outlets throughout the facility. In
addition, foodservice managers have gained timely insight into sales,
costs and efficiency through consolidated, above-store reporting.
Spanish-based Yoigo has chosen Vesta electronic payment solutions to
create and deliver its automated recharge service, allowing Yoigo
prepaid customers to add value to their accounts using a payment card.
This allows recharges in a matter of seconds over the internet, which
are then validated and added to the account. Providing prepaid mobile
recharge services for numerous operators throughout Europe, North
America and Asia, Vesta offers the operator full indemnification from
transaction fraud and manages all operations surrounding the service.
Ireland and US-based Vesta was established in 1995 and has been an Inc.
500 fastest growing private company for five consecutive years.
Chase Card Services has unveiled a new integrated marketing campaign to promote its new business card portfolio. The new “Ink” promotion will be promoted through an integrated marketing campaign that includes television, print, newspaper, online, events, public relations, and direct marketing. New York-based advertising agency mcgarrybowen created the new multimedia television and print campaign, which was previewed during the Inc. “500/5000 Conference and Awards Ceremony” where Chase was a leading sponsor. Themed “This is the Story,” the new advertising campaign airs its first television spot today. The multimedia campaign supports all four distinct cards in the new “Ink” from Chase business card portfolio. The recent launch of “Ink” marked Chaseâs introduction of a pay-in-full charge card. All “Ink” business cards are accepted at twice as many locations worldwide as American Express and supported by Chaseâs 5,200 bank branches.Details
Panasonic and Renesas Technology are set to concentrate their joint
development functions for SoC process technologies at the Renesas Naka
site and will start operation of their 28 to 32 nm process development
line installed at that site on October 1, 2009. Concentrating their
joint development functions at the Naka site with its 300 mm wafer line
and providing a joint development structure, the 2 companies are
developing 28 nm process technologies. They have agreed on joint
development of next-generation SoC technologies in 1998, before Renesas
was formed, and have continued to develop semiconductor process
technologies for the 90 nm, 65 nm, 45 nm, and 32 nm generations at the
Renesas Kitaitami site. In the development line at the Naka site, the
two companies have installed new production equipment in addition to
having transferred part of the development line equipment from the
Renesas Kitaitami site.
Secured Financial Network has officially changed the name of
its wholly owned subsidiary, Virtual Payment Solutions, Inc., to RedFin
Network, Inc. The Payment Gateway specializes in providing (PCI) Certified
Payment Technology for small to enterprise size business and resellers
in need of secure and reliable Wireless, Retail and Internet
credit/debit card and ACH processing services with dedicated customer
service and technical support.
Inteligensa Group and Aveso flexible display technology have signed
agreements to offer Inteligensa customers a one-time password
DisplayCard. Offering intelligent card-based solutions for financial
institutions in Brazil, Mexico, Colombia and Venezuela, Inteligensa
sells 180 million bank cards annually(35% of Latin America total
volume). The Inteligensa’s OTP cards are immediately available to
150-200 financial institutions. The Inteligensa DisplayCard integrates
the security of an OTP token directly into a standard credit or debit
card. At the push of a button on the card, a one-time passcode is shown
on the card’s display. During an online transaction, this number is
entered into a user interface with other informationfor multifactor