JULY LEI

The Conference Board Leading Economic Index (LEI) for Korea increased
1.4% while The Conference Board Coincident Economic Index (CEI)
increased 0.1% in July. With the 1.4% increase in July, the Conference
Board LEI for Korea now stands at 106.3 (2004=100), which increased 1.6%
in June and increased 0.3% in May. During the six-month span through
July, the LEI During the six-month span through July, the leading
economic index increased 6.3% with five of the seven components
advancing (diffusion index, six-month span equals 71.4%) while the CEI
increased increased 3.3% with three of the four components advancing
(diffusion index, six-month span equals 75.0%). LEI results for the
month were attributed to positive gains in stock prices, private
construction orders, and real exports while negative contribution came
from value of machinery orders.

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Financial Services Ad Spend Drops 24% in 2009

New tracking data for the first six months of this year shows that advertising for Financial Services nosedived by 24.3% to $3.75 billion. TNS Media Intelligence says credit card companies and loan providers severely curtailed their marketing programs. Overall, total measured advertising expenditures in the first six months of 2009 fell 14.3% versus a year ago to $60.9 billion. Ad spending on Network TV declined 5.5% and Cable TV slipped 3.6% in the first half of 2009. Print media continued to suffer large rollbacks in ad pages from key categories and this resulted in aggregate spending declines of 24.2% for Newspaper media and 20.9% for Magazine media. Internet display (+6.5%) and FSI’s (+4.6%) were the only media to achieve expenditure growth in the first half of 2009. According to Synovate’s “Mail Monitor” direct mail credit card offers declined 67% year-on-year during the second quarter, but only 6% sequentially. U.S. households received 349.1 million offers during the second quarter, compared to 1060.0 million offers received during 2Q/08. Synovate reported that credit card mail volume for Bank of America was up 77% and Citibank was up 65% over 1Q/09. CardWatch.com last month reported that direct mail was off at least 70% in the second quarter, with American Express and Discover dispatching the largest credit card solicitation mailings.

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CUP DATA PCI DSS

China UnionPay Data Services bankcard processor has met PCI DSS
compliance. In doing so, CUP Data demonstrated compliance with 12
security requirements by thoroughly reviewing its IT environment and
information security policies and procedures. Validated by Trustwave
on-demand data security and payment card compliance solutions, the PCI
DSS security requirement ensures organizations which transmit and/or
store cardholder data have secured information. In doing so, payment
service provider compliance requirements are segmented into two levels
based on the number of transactions processed and/or transmitted
annually. To maintain compliance, CUP has enrolled in the Trustwave
“TrustKeeper” on-demand compliance management solution, providing the
necessary tools to support on-going compliance.

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AmEx Offers Destination Family Perk

American Express has launched “Destination Family” that offers travel discounts and tailors offers to families. Exclusively available
to American Express Cardmembers when booking travel through American
Express Travel, the program offers distinct family-focused benefits with
renowned hotel, tour, cruise line and car rental partners, such as kids
stay and/or eat free, up to 50 percent off second hotel rooms, on-board
cruise credits, free car seats, and a host of other amenities.
The Destination Family program includes some of the travel industry’s
best known and family-friendly brands. Participating partners include:
Hyatt Hotels & Resorts, Omni Hotels & Resorts, American Express
Vacations, Royal Caribbean International, Norwegian Cruise Line, Regent
Seven Seas Cruises, Avis, Budget and Hertz. In addition to enjoying
Destination Family deals and discounts, families can tap into American
Express’ roster of Family Travel Specialists to help plan and book their
vacations.

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VISITOR SPEND

International visitor arrivals to South Africa increased 5.5% with 9.5
million visitors, compared to 9.1 million in 2007, while more than 13
million Visa transactions were made by the international visitors, up
11% from 2007 and representing $1.8 billion in tourism revenue. In 2008,
nearly half of transaction volume from international visitors to South
Africa was from U.S. and U.K. cardholders who contributed over $812
million to the South African economy, mostly from Germany, France and
Australia. This, according to Visa’s “Tourism Outlook: South Africa,” is
a continuing trend in 2009 with international Visa cardholders having
spent approximately $500 million in South Africa in 1Q/09 alone. The
Visa International tourism survey demonstrates 14% are likely to attend
the 2010 FIFA World Cup next summer, 61% of whom are interested in going
on a safari, 54% are interested in visiting key landmarks and 45% are
interested in a beach holiday in Cape Town. Among the travelers’ Visa
transaction volume, 49% was thanks to general retail purchases while
lodging represented 13%in 2008 across South Africa.

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NCR APTRA ATM Software PA-DSS Approved

NCR has received PA-DSS certification from the PCI Security Council for the “NCR APTRA Advance NDC”.
“APTRA Advance NDC” makes it possible to drive a single application across
multiple vendors’ hardware in NDC host environments. Providing many
transactions “out of the box” as well as a platform for the rapid
deployment of new functionality, APTRA Advance NDC drives transactions
on more than 150,000 ATMs for more than 2,000 customers, making it the
most popular self-service software in the world. PA-DSS is a comprehensive
standard intended to help organizations proactively protect customer
account data, through requirements for security management, policies,
procedures, network architecture, software design and other critical
protective measures. According to PCI, the goal of PA-DSS is to help software vendors and
others develop secure payment applications that do not store sensitive
data, such as full magnetic stripe, CVV2 or PIN data, and ensure their
payment applications support compliance with the PCI DSS. Payment
applications that are sold, distributed or licensed to third parties are
subject to the PA-DSS requirements.

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SAS & AMEX

SAS Scandinavian Airlines and American Express have signed a deal to launch co-branded cards. The agreement encompass co-operation between SAS’ “EuroBonus” frequent flyer program and American Express’ “Membership Rewards” global loyalty program. The partnership stipulate the launch of two SAS American Express cards, the “SAS American Express Corporate Card” for companies in Sweden, Norway and Denmark and the SAS “EuroBonus” American Express Card for consumers in Sweden. As of today, existing American Express cardholders can redeem their “Membership Rewards” points on all Scandinavian Airlines flights and other rewards from the “SAS EuroBonus” program. SAS currently offers a co-branded MasterCard.

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ADS Charge-Offs Hit 9.7% in August

TX-based loyalty marketer Alliance Data Systems reported that net
charge-offs
as a percentage of average managed receivables for its private label
business hit 9.7% in August.
Averaged managed receivables for the month of August was $4,287,735 with
net charge offs of $34,488,
resulting in the net charge-offs as a percentage of the average managed
receivables to be 9.7%.
Alliance Data is a leading provider of marketing-driven credit
solutions, and is the parent company of Epsilon, a leading provider
of multi-channel, data-driven technologies and marketing services, and
LoyaltyOne, which owns and operates the AIR MILES Reward Program.

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BBVA & VF

BBVA Bancomer has begun deploying the VeriFone “MX ATM” payment kiosk
across Mexico, among which it’s currently installing a customized
version at one of the largest drug store chains in the country. Bancomer
is also planning to invest more than $10 million to expand the
deployment in 2010 to represent 10% of its ATM network footprint. The
“MX ATM” recycles cash deposits from individual consumers and retail
receipts for cash withdrawals on a secure, highly manageable payment and
cash dispensing kiosk, intended for environments such as hotels,
department stores, night clubs, and enterprises. Merchants can install
VeriFone MX ATM to dispense and/or deposit cash and provide a variety of
value-added services including telco top-up, bill payment, money
transfer, couponing, redemption, and reloading of prepaid cards.

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SCORE to Honor American Express OPEN

American Express “OPEN” is being honored tomorrow at the inaugural
“SCORE Awards” gala in Washington, DC. AmEx will receive the “SCORE
Award for Corporate Small Business Supporter of the Year.” AmEx “OPEN”
renewed its alliance with SCORE for third year to provide small business
owners with free business counseling, workshops and networking as part
of the “Small Business Speed Coaching Test Drive Series.” The series of
single-day events delivered face-to-face counseling to more than 2,000
new and emerging small businesses. “OPEN: The Small Business Network”
was launched in 2002 by American Express. (CF Library 2/1/2002)

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CORP BANK & ELECTRACARD

ElectraCard Services (ECS) software solutions for electronic payment
systems is deploying Corporation Bank’s tax payment facility through
ATMs, allowing its customers to pay direct tax through their ATMs on
registering for the facility. The Bank’s ATM to pay tax carries out the
PIN verification and fetches the relative tax template details from the
Bank’s server after due authentication. The system then sends the tax
payment transaction with the tax amount entered by the customer and this
amount will be debited to the customer’s account and the tax payment
account will be credited. On completion, the customer will get a receipt
with the transaction details.

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