JULY LEI

The Conference Board Leading Economic Index (LEI) for Germany increased
for the 4th consecutive month by 1.1% while The Conference Board
Coincident Economic Index (CEI) posted no change in July. With the 1.1%
increase in July, the Conference Board LEI for Germany now stands at
89.1 (2004=100), which increased 1.1% in June and increased 0.6% in May
and increased 0.7% over the previous 6 months with five of the seven
components increasing. Meanwhile, the CEI decreased 0.8% throughout the
previous 6 months with none of the four series making a positive
contribution. LEI results for the month were attributed to positive
gains in goods industries, yield spread, consumer confidence, new
residential construction orders, inventory change series and stock
prices while negative contributors include gross enterprises and
properties income.

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Companies Still Struggle with PCI DSS Compliance

A new survey has found that despite “PCI DSS,” companies still struggle with data security, putting consumers at continued risk for identity theft. Seven out of ten companies surveyed admit to not making data security a top strategic initiative, and 55% admit to only securing credit card information and not sensitive information such as Social Security numbers, driver’s license numbers, and bank account details. The research from Imperva and the Ponemon Institute also found that 60% of respondents don’t think they have sufficient resources to comply with PCI and bring about a necessary level of cardholder security. Additionally, the survey found that only 28% of smaller companies (501-1000 employees) comply with PCI as opposed to 70% of larger companies (75,000 or more employees). Imperva says companies can’t articulate their security efforts to consumers, and consumers are not aware of the compliance status of the retailers they do business with. As a consequence, companies cannot leverage their investment in PCI compliance to gain competitive advantage.

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BB&T to Deploy Wincor Nixdorf’s ProCash

NC-based BB&T Bank has signed on Wincor Nixdorf to provide “ProCash” ATMs, software and associated services.
BB&T is purchasing a range of models, including Wincor’s ProCash NDC ATM
terminal software, along with the company’s ongoing first- and
second-line servicing, maintenance and support. Installation of initial
units is scheduled for completion by the end of 2009, with additional
installations planned for 2010. BB&T holds $152.4 billion in assets and operates
more than 1,500 banking offices.

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FIFA & VISA

A “FIFA World Cup” partner since 2007, Visa announced it will roll out its Financial Football game (known as Financial Soccer in the U.S.) in over 12 countries in the months leading up to the “2010 FIFA World Cup.” The game, which went live in Brazil on September 15th, is now available for U.S. players. Visa says the new “FIFA World Cup” branded educational video game is the centerpiece of a commitment to reach 20 million people worldwide with financial literacy information by May 1st, 2013. The new video game was announced at the “Clinton Global Initiative Conference.” Visa also rang the bell of the New York Stock Exchange today. Following the bell ringing, Visa hosted a Financial Football clinic with U.S. national team captain Landon Donovan of the Los Angeles Galaxy, World Cup veteran Brian McBride of the Chicago Fire and Mexican soccer legend Jorge Campos at Martin Luther King Jr. High School in Manhattan.

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FNDS3000 PREPAID

FNDS3000 financial transaction processing services company has announced
an update on the preliminary results of the Market Test Phase of its
operations. Reportedly, 41,000 cards have been distributed to corporate
clients who are in the process of issuing these cards to cardholders
with no significant problems. The number of new corporate clients has
increased to 30 bank approved clients and expectations exceed 50,000
cards during October. Corporate customers have ordered and paid for
141,000 prepaid cards for issuance from which FNDS3000 has raised over
$7 million in capital in an extraordinary credit environment. FNDS3000
financial transaction processing service focuses on the development and
implementation of a variety of prepaid card programs outside the United
States.

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Chase Makes it Debit Cards More Consumer Friendly

As pressure builds on bank overdraft practices, particularly with regard to debit card transactions, Chase announced it will revamp its policies early next year. The plans call for eliminating overdrafts for debit cards unless the customer opts in to overdraft services; modifying the
posting order to recognize debit-card transactions and ATM withdrawals as they occur; eliminating overdraft fees if a customer’s account is $5 or less overdrawn and reducing the maximum number of overdraft fees per day to three from six. Chase says it will continue its current policy of not allowing customers to withdraw more cash from an ATM than they have available in their account. In addition, Chase will continue to offer overdraft protection for customers who link their checking account to a savings account, credit card or home equity line of credit. Earlier this month, Chase introduced “Blueprint,” a new initiative that makes it easier for Chase credit card customers to reduce balances and avoid interest charges.

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FDC EXECS

First Data has hired Kevin Schultz, formerly global head of Visa
Processing Services for Visa, as president of its Financial Services
business segment. Also, John Elkins, formerly a senior advisor to
McKinsey & Company, as chief marketing officer. Schultz responsibilies
include Card Issuing, Debit Services, the STAR Network, Output Services,
Government and Education Markets, and analytic and decision services
products. Elkins will be responsible for global marketing and brand
development. First Data also announced that Henry Kravis and Joe
Forehand were appointed as new members to its board of directors.
Kravis is the co-founder, co-chairman and co-CEO of Kohlberg Kravis
Roberts & Co. Forehand retired as chairman of Accenture in 2006 after
more than 30 years with the firm.

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Costco to Market Jamba Juice Gift Cards

QSR Jamba Juice has partnered with Costco to offer the “Jamba Juice Gift
Cards”.
The two-card Jamba Juice gift pack,
redeemable at participating Jamba Juice locations, will be available for
purchase exclusively at approximately 120 Costco warehouses on the West
Coast during the holiday season and will retail for $39.99, a savings of
$10.00 off of the regular retail price. The Jamba Juice gift cards are
expected to showcase in special displays
at approximately 120 West Coast Costco locations starting October 15,
2009. Each selling unit will contain two twenty-five dollar cards and
retail for $39.99, a savings of twenty percent for consumers over the
regular retail price.

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VERIFYSMART VERIFICATION

Offering a better alternative to Chip and PIN security, VerifySmart’s
latest security solution protects lost or stolen cards from identity
theft and cloned cards. In doing so, transactions control is always in
the hands of the card owner, thanks to authentication segregating the
verification and PIN process from the physical card or transaction
medium for two-part authentication. This authentication requires a
second source for a complete transaction but prevents it from being
forged. The VerifySmart credit and debit card fraud detection and
prevention technology is patent and patent-pending in 29 countries
ranked by strategic importance and wireless penetration rates.
VerifySmart’s debit and credit card processing transmits a payment
card’s debit signal to the bank through the card holder’s mobile phone
by VerifySmart, to which a cell phone message relays a transaction is in
progress. To validate the transaction, the card holder need enters his
unique PIN number for authorization or refusal.

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Dynamic Card Solutions Adds a New Exec

CO-based instant card issuer Dynamic Card Solutions has hired Guy Berg,
previously with Collis America, as
director of advanced payment technologies. Berg is considered an
industry expert in EMV, contactless
cards, mobile NFC payments and the electronic payment ecosystem. Before
joining DCS, he was the president of Collis America, where he provided
EMV implementation consulting and compliance tools for EMV cards,
terminals and authorization host systems. Berg has worked with almost
every aspect of the
payment ecosystem including point of sale (POS) application development
and terminal design, merchant acquiring and card management systems, and
new account fraud prevention products. In addition, he has worked on EMV
migration projects globally over the past 10 years and most recently was
involved with NFC mobile payments. Berg has also contributed to early
GlobalPlatform specification development, Smart Card Alliance card
industry white papers, and speaks regularly at conferences on EMV migration.

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GUESTLOGIX POS

At its annual user group conference in Toronto, GuestLogix inflight
retail solutions has unveiled support for its contactless payment
technology on its POS handhelds and retail transaction platforms.
Available in early 2010, this launch is thanks in part to the company’s
collaboration with payment associations to certify its new devices to
make it the first to market with universal onboard POS handhelds
supporting contactless standards such as Visa “payWave”, MasterCard
“PayPass”, American Express “ExpressPay” and Discover “Network Zip.”
GuestLogix will offer two POS handhelds with contactless support, which
will include advanced very compact and light readers that support all
layers of the ISO 14443 Type A & B communications scheme. Airlines will
be able to easily upgrade their existing onboard GuestLogix POS devices
with a simple plug-in procedure.

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Visa Launches FIFA World Cup Educational Video Game

A “FIFA World Cup” partner since 2007, Visa announced it will roll out its Financial Football game (known as Financial Soccer in the U.S.) in over 12 countries in the months leading up to the “2010 FIFA World Cup.” The game, which went live in Brazil on September 15th, is now available for U.S. players. Visa says the new “FIFA World Cup” branded educational video game is the centerpiece of a commitment to reach 20 million people worldwide with financial literacy information by May 1st, 2013. The new video game was announced at the “Clinton Global Initiative Conference.” Visa also rang the bell of the New York Stock Exchange today. Following the bell ringing, Visa hosted a Financial Football clinic with U.S. national team captain Landon Donovan of the Los Angeles Galaxy, World Cup veteran Brian McBride of the Chicago Fire and Mexican soccer legend Jorge Campos at Martin Luther King Jr. High School in Manhattan.

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