accesso to Power MasterCard Golf Event

Ticketing and e-commerce provider accesso will provide MasterCard and
the Arnold Palmer Invitational comprehensive online and onsite
ticketing, access control and real-time reporting. The 2010 tournament
website offers ticket sales via the award-winning accesso “SHOPLAND”
eCommerce solution,
delivering an intuitive retail environment consistent with the
tournament’s visual
identity and branding priorities. The entire platform integrates the
sponsor into the
Arnold Palmer Invitational presented by MasterCard’s sales and marketing
efforts,
creating a consistent message as well as a simplified transaction
process. The powerful accesso on-site ticketing
platform will be paired with state-of-the-art wireless technology to
deliver real time
attendance reports and statistics for key tournament management.
MasterCard will be prominently featured in the online retail environment
and offered as the
preferred payment option.

Details

JULY ABS

Charge-offs amongst credit card-backed securities broke into double digits for the first time in July. However, delinquency eased for the second straight month after surging to a record 5.5% in May. Charge-offs leapt 40 basis points while 60-to-180 day delinquency nudged down by 10 basis points. The Fitch “Charge-off Index” increased for the sixth straight month in July to 10.2%, compared to 9.8% in the prior month and 6.5% one-year ago. Fitch says it is particularly concerned about the change in the make-up of charge-offs in the first half of 2009, with increasing amounts of chargeoffs originating from accounts rolling through the delinquency buckets, as cardholders experience more difficulties in making their monthly payments. Also, the increase in the use of debt management programs has also been a major concern; cardholders who have already displayed difficulties in servicing their debts continue to be exposed to increasing economic stress, which is likely to lead to an acceleration in reported charge-off increases in the longer term. In July, the Fitch “Delinquency Index” decreased, after rising for nine consecutive months, moving to 5.3% from 5.4% in June and 3.7% in July 2008. As the economic downturn continues to hit the U.K., Fitch expects that further rises in unemployment, together with high levels of borrowing for U.K. consumers, will continue to exert stress on cardholders, resulting in increasing delinquencies as they struggle to meet their debt obligations.

Details

Future Expectations Lift Consumer Confidence

A monthly consumer tracking poll reveals consumer confidence gained ground in September for the third consecutive month. However, the composite index was driven by future expectations as the current conditions component fell again. The “RBC CASH” (Consumer Attitudes and Spending by Household) Index for September stands at 40.0, a 2.5 point increase from August’s reading. The “Expectations Index” for September rose to 41.5, up 12.4 points from August, setting a new high. The “Current Conditions Index” for September dropped to 33.2, down 3.4 points from the August reading. The “Investment Index” decreased to 36.9, a 7-point drop from August’s level. The “Jobs Index” for September held steady at 53.5. RBC noted that while the “Composite Index” reached its highest level since May, a close reading of the results finds consumers remaining cautious about economic recovery.

RBC CASH INDEX
Sep 08: 69.2
Oct 08: 37.0
Nov 08: 34.7
Dec 08: 15.3
Jan 09: 13.3
Feb 09: 1.6
Mar 09: 8.2
Apr 09: 38.3
May 09: 43.0
Jun 09: 34.3
Jul 09: 22.4
Aug 09: 37.5
Sep 09: 40.0
Source: RBC CASH

Details

GetFugu Debit Card Promotion is Set

GetFugu has launched its next generation mobile search tool, providing a
new method of accessing the Internet through mobile phones, and will
conjunctively be giving the first 100,000 users a free customizable
debit card on September 9th. “FuelLinks” ‘Cash-for-Gas’ fuel-based rewards
program, allows the cardholders to buy products at major grocery chains,
local merchants and retailers and redeem points earned through their
purchases at over 23,000 gas stations. These gas stations include BP,
CITGO, Arco, and Marathon. Cardholders are also offered rewards
incentives from consumer-focused industries and Fortune 500/1000
companies, as well as over 700 online retailers, 70 big-box brick &
mortar retail stores, and more than 25,000 local community merchants and
retailers. GetFugu provides smartphone users a carrier agnostic,
platform agnostic mobile search platform.

Details

Open Solutions Unveils Veri-Fast

CT-based Open Solutions has introduced “Veri-Fast” to help bank tellers
identify account holders.
The Veri-Fast solution uses two-factor authentication to
identify the accountholder at the teller line. The member/customer
swipes their ATM/debit card, enters their PIN number and once verified,
the software instantly retrieves the relationship profile. In addition
to reducing fraud, Veri-Fast improves service and efficiencies by
automating the retrieval of accountholder files and eliminating teller
keystrokes. Open Solutions Inc. is a provider of integrated enabling
technologies for financial
services providers.

Details

Acculynk Releases PIN Debit White Paper

Acculynk has released its white paper entitled “PaySecure: Tracking to
Become a Leading Online Payment Method.” Detailing preliminary pilot
results of its Internet PIN debit payment method, “PaySecure,” the white
paper discusses consumer usage of the product to date, which was
commercially introduced in March in a pilot program with several online
merchants, issuers and EFT networks. “PaySecure” is presented as a
payment option at the merchant checkout, for which Acculynk has seen a
steady increase in new partnerships over the past two months. These new
partnerships include the addition of AirTran and Ace Hardware Outlet as
merchants, 3 more of which are to be announced within the next 90 days,
and Credit Union 24 and SHAZAM as participating EFT networks.

Details

CITI & VIRGIN

Citibank and Virgin Megastore have partnered to offer Citibank
“Lifestyle Credit” cardholders rewards and promotions for concerts,
gaming tournaments and shopping sprees. Virgin will launch the
partnership giving Citibank “Lifestyle Credit ” customers a 10% discount
on all purchases at Virgin Megastores in the UAE excluding electronics.
Additionally, Citibank will be present at Virgin stores across the UAE
offering easy access to credit card applications and immediate gift
incentives for those who are approved. Targeting youthful, progressive
professionals through discounts and rewards, the “Lifestyle Credit” card
offers a credit limit of up to AED 150,000; exclusive discounts on
video, music, books, gifts and merchandise; access to free golf at
prominent golf courses across the country; and a new rewards catalogue
to now include Zara, Aldo, Adidas, N.Bar, Etisalat, Cinestar, Apple,
Sony, Hyper Panda and Carrefour as redemption partners.

Details

Utah Transit Deploys In Motion Gateway

The Utah Transit Authority has deployed the “onBoard Mobile Gateway” from mobile networking provider In Motion Technology
to enable in-vehicle credit card payments.
In Motion’s onBoard Mobile Gateway creates a wired and wireless local
area network aboard transit vehicles, enabling multiple devices and
systems to have reliable connectivity over a variety of networks.
The onBoard Mobile Gateway provides real-time communication enabling
authorization of credit cards, ski passes and other electronic fare
media used by UTA passengers as they board, providing a convenience for
passengers and increasing efficiency for the agency. Wide-area and
garage area communications are also provided for systems, managing
vehicle location, route, schedule and service information. Using the
onBoard Mobile Gateway as a Wi-Fi hotspot, passengers will also have
access to email and the Internet from their laptops, PDAs or smart
phones. UTA’s IT team will also be able to monitor and troubleshoot its
wireless network and devices in real time.

Details

Coinstar to Offer SVS MasterCards

Stored Value Solutions custom gift card solutions for prepaid cards has
signed agreements to provide MasterCard prepaid gift cards to Coinstar
E-Payment Services. With this agreement MasterCard prepaid gift cards
will be available at retail outlets across the country where Coinstar is
present. The Card’s SVS prepaid solution allows customers to load cash
onto their MasterCard prepaid card, who are given the freedom to shop
anywhere Debit MasterCard is accepted. Coinstar automated retail
solutions offers products and services through supermarkets, drug
stores, mass merchants, financial institutions, convenience stores,
restaurants and money transfer agents while Stored Value Solutions
custom gift card solutions are available for prepaid cards, loyalty and
B2B applications. Stored Value Solutions serves six of the top ten U.S.
retailers and annually processes over 1 billion transactions for 600
clients.

Details

UK Charge-Offs Hit Double Digits for 1st Time

CardFlash International reports that charge-offs amongst credit card-backed securities in the U.K. broke into double digits for the first time in July. However, delinquency eased for the second straight month after surging to a record 5.5% in May. Charge-offs leapt 40 basis points while 60-to-180 day delinquency nudged down by 10 basis points. The Fitch “Charge-off Index” increased for the sixth straight month in July to 10.2%, compared to 9.8% in the prior month and 6.5% one-year ago. Fitch says it is particularly concerned about the change in the make-up of charge-offs in the first half of 2009, with increasing amounts of chargeoffs originating from accounts rolling through the delinquency buckets, as cardholders experience more difficulties in making their monthly payments. Also, the increase in the use of debt management programs has also been a major concern; cardholders who have already displayed difficulties in servicing their debts continue to be exposed to increasing economic stress, which is likely to lead to an acceleration in reported charge-off increases in the longer term. In July, the Fitch “Delinquency Index” decreased, after rising for nine consecutive months, moving to 5.3% from 5.4% in June and 3.7% in July 2008. As the economic downturn continues to hit the U.K., Fitch expects that further rises in unemployment, together with high levels of borrowing for U.K. consumers, will continue to exert stress on cardholders, resulting in increasing delinquencies as they struggle to meet their debt obligations.

U.K. CREDIT CARD ABS
Delinquency Charge-Offs
Jul 08: 3.7% 6.5%
Aug 08: 3.7% 6.3%
Sep 08: 3.8% 6.6%
Oct 08: 3.9% 6.6%
Nov 08: 4.1% 6.4%
Dec 08: 4.3% 7.2%
Jan 09: 4.5% 6.8%
Feb 09: 4.8% 7.5%
Mar 09: 5.0% 8.4%
Apr 09: 5.3% 8.6%
May 09: 5.5% 9.1%
Jun 09: 5.4% 9.8%
Jul 09: 5.3% 10.2%
Source: FitchRatings

Details

EM & CRI

Cryptography Research has signed patent agreements with EM
Microelectronic – Marin semiconductors concerning, allowing the latter
to implement the formers patents. For its flash-based smart card chips
in the telecom market, EM will be implementing CRI’s patent to enhance
tamper-resistant smart card security against Differential Power Analysis
(DPA) and related attacks. DPA is a form of attack consisting of the
monitoring of fluctuating electrical power consumption of a target
device and channeling advanced statistical methods to derive
cryptographic keys and data. With this patent agreement, EM will be
implementing its freedom to use the CRI patents to develop and enhance
its security chips used in its smart card security applications for
banking and electronic identification. This will allow its customers to
develop their own security countermeasures without a separate license
from CRI.

Details