BluePay to Sponsor Great Plains User Summit

IL-based credit card processor BluePay will be a “Platinum Sponsor at the Great Plains User Group Summit 2009 in September.
BluePay will be highlighting their HQ product’s integration with
Microsoft Great Plains, which allows GP users to streamline their
accounting and payment processes into a single-source solution. Beyond
simply merchant accounts and processing credit cards, HQ provides
customizable payment solutions. The product allows enterprises to
consolidate vendors, become PCI compliant through enhanced data security
and reduce costs through electronic invoicing. The conference, to be held September 14-18 in Chicago, is a forum for Microsoft GP end-users to interact and
learn from Microsoft and other GPUG Partners about news, products and
services surrounding Microsoft GP.

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SCM Microsystems Intros Three New NFC Readers

SCM Microsystems security solutions has launched its “SCR3500 SmartFold”, the “SCT3511” and the “@MAXX lite” smart card reader models. The new compact handheld, USB or NFC connected readers are for use with contact or contactless smart cards regardless of technology or manufacturer. Offering a single small device for all smart card-related needs, the SCM readers solutions secure identities for bank payment cards, employee access badges, government identity cards and healthcare IDs. Available through both OEM and distribution channels, the “SCR3500 SmartFold” smart card reader fits easily on a key ring and provides online services access from anywhere through USB ports; the “SCT3511” USB token offers both ISO 14443 and “MIFARE” contactless capabilities for ID-000 (SIM card format) smart cards and can be used for secure physical access to the buildings; and the “@MAXX lite” token with both contact and contactless smart card-based functionalities adds on-board Flash memory for secure storage of sensitive data using encryption on a hard disk and the onboard Flash memory.

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Dodd Wants Proposed CFPA to Clean-Up Debit Cards

After news began to circulate that American Express and Discover were dropping over-limit fees rather than offer cardholders an opt-in, Senate Banking Committee Chairman Chris Dodd says he is proud the “Credit CARD Act” is working to clean up the credit card industry. However, he cited overdraft fees on checking accounts and debit cards as one reason for establishing a full-time Consumer Financial Protection Agency. Last month, Dodd asked bank regulators to draft new regulations requiring all interest rate increases that have taken place this year to be subject to a mandatory 6-month review. According to CardTrak, over-limit fees entered the credit card market in the late 1980s after the introduction of general purpose credit cards issued by non-banks. Providian largely developed the over-limit fee practice in the early 1990s. Before 1995 most issuers did not impose an over-limit fee unless the account exceeded the credit limit by 5% to 10% or more. The $1 over-limit policy came into the market in 1995-2000 period and then was further developed into an intra-cycle policy, wherein the fee is charged if the account goes over-limit at any time during the billing cycle as opposed to just the balance at the end of the billing cycle. (CF Library 7/10/09)

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Intersections’ Revenues Rise 3.5% Sequentially

Identity risk management specialist Intersections reported revenue for the second quarter of $90.3 million, compared to $87.3 million for the first quarter and $94.2 million for 2Q/08. The 3.5% sequential Q2 growth was driven by the Consumer Products and Service business. Net loss was $2.7 million for 2Q/09, compared to net income of $4.4 million for the quarter ended June 30, 2008. Subscription revenue, net of marketing and commissions associated with subscription revenue, was $42.6 million for the second quarter, compared to $40.6 million for the first quarter. Total subscribers decreased to approximately 4.5 million as of June 30th, compared to approximately 4.7 million subscribers at year-end 2008. Subscriber additions of approximately 813,000 in the second quarter were offset by subscriber cancels of 882,000. During the quarter Intersections announced that the “ID Vault” personal password and online identity protection technology will be updated to provide broader protection against newer, more sophisticated security threats including the ‘Moxie’ man-in-the-middle SSL attack. In July, the Company terminated its joint venture agreement with Control Risks Group and purchased the noncontrolling interest of Screening International. For complete details on Intersections’ latest performance visit CardData (www.carddata.com). (CF Library 4/24/09)

INTERSECTIONS REVENUES
2Q/08: $94.2 million
3Q/08: $93.4 million
4Q/08: $88.1 million
1Q/09: $87.3 million
2Q/09: $90.3 million
Source: CardData (www.carddata.com)

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Small Biz Bankruptcy Doubles in the Recession

Business bankruptcy filings are running 80% above one-year ago and have more than tripled compared to two years ago. During June more than 10,000 bankruptcy filings were made by small businesses, a new record. According to Equifax there were 10,339 business bankruptcy filings in June, up from 5,712 a year ago. According to the Administrative Office of the U.S. Courts total business bankruptcy filings in the first quarter were 14,319, compared to 12,901 in the fourth quarter and 8,712 in 1Q/08. Based on the 81% increase reported by Equifax for June, second quarter 2009 business bankruptcy filings will likely top 17,500 and the third quarter could approach 20,000. Equifax says the latest data show California is the most negatively affected state with 10 MSA’s among the 15 areas with the most commercial bankruptcy filings during June. The other MSA’s with the most bankruptcy filings during the month include: Charlotte-Gastonia-Concord, NC-SC; Atlanta-Sandy Springs-Marietta, GA; Portland-Vancouver-Beaverton, OR-WA; and Dallas-Plano-Irving, TX. The areas with the fewest small-business
bankruptcy filings include: Springfield, MA; Lafayette, LA; Cedar Rapids, IA; Charleston, WV; and Hagerstown-Martinsburg, MD-WV.

BUSINESS BANKRUPTCY FILINGS
2Q/07: 4,858
3Q/07: 7,167
4Q/07: 7,985
1Q/08: 8,712
2Q/08: 9,743
3Q/08: 11,504
4Q/08: 12,901
1Q/09: 14,319
2Q/09: 17,635
Source: CardData (www.carddata.com)

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MINICLIP.COM & GLOBALCOLLECT

Miniclip.com has selected GlobalCollect “WebCollect” as its payment
service provider to process online transactions for online games.
Offering more than 450 titles, ranging from single player to hard-core
massive multiplayer games, to its community of over 50 million online
players, www.miniclip.com is focused on increasing conversion rates and
customer convenience through its GlobalCollect partnership. Connecting
to GlobalCollect’s single-interface payment platform, “WebCollect”
enables Miniclip to process payment transactions in multiple languages
and currencies across the world for payment on national and
international credit and debit cards, eWallets, prepaid cards, real-time
bank transfers, and direct debits. Additionally, “WebCollect” allows
Miniclip to offer popular alternative payment methods to gamers buying
downloadable and subscription based games.

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AMUSE BREACH

Amuse Inc. reports a hacker from China may have hit its servers. Nearly 150,000 accounts containing credit card data and personal information may have been compromised. The Tokyo-based company promotes and manages celebrities, musicians, film directors, scriptwriters, athletes and intellectuals. It is also involved in the production, contracting and performance of music, film, theater and theatrical entertainment and lecture, and management and contracting of these facilities.

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Heartland Payment Systems Unveils ePIN It

Heartland Payment Systems payments processors has launched its “ePIN
It!” prepaid calling services program. Offering wireless and
long-distance services, “ePIN It!” can be downloaded at the POS terminal
to provide domestic and international long-distance products. For use on
VeriFone “Vx500” series and Omni “3740”/”3750″ terminals, as well as
Radiant POS systems, the prepaid service allows merchants to expand
product lines, grow profits, reduce inventory and add Convenience with
more than 110 offerings from most major wireless carriers. When
customers purchase minute allotments, PINs are printed on receipts
generated from the POS terminals, which allow access to their minutes by
calling a toll-free number.

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Consumers Favor Bank Sites Over Biller Sites for EBPP

A new study predicts that 83 million households will bank online by 2014. The new report from Javelin Strategy and Research indicates that more consumers are paying bills directly with banks online, not at individual biller websites. The report, “2009 Online Banking and Bill Payment Forecast” found that eight out of 10 online households now conduct online banking. The credit crisis of 2007 along with the banking collapses of 2008 and the resulting recession have spurred consumers to watch spending more closely. Key findings of the forecast include: Six in ten of online households bank online weekly, a 12% increase from 2008; seven in ten of online households pay bills online monthly, up from 64% in 2008; smaller banks are struggling to keep up with bigger banks online; bank fees are the main reason people switch financial providers and consumer demand is building for online personal finance management tools that consolidate money-monitoring capabilities offered by free web sites with those offered by banks and credit unions.

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DATAMONITOR OVUM

Datamonitor Group has integrated its Butler Group, Datamonitor
Technology and Ovum technology businesses under the ‘Ovum’ brand,
effective September 1, 2009. In conjunction, Ovum is launching its two
new research services; “Ovum Technology and Industries Knowledge Center”
and “Ovum Enterprise IT Knowledge Center.” The “Enterprise IT Knowledge
Center” delivers research to support enterprises to create, select and
manage the technology portfolio that delivers improved business value,
bringing together Ovum and Butler Group’s research and leveraging the
business research of the Datamonitor Group. Meanwhile the”Technology and
Industries Knowledge Center” provides research to help ICT suppliers
identify and address new market opportunities and solve the real
business problems of their clients, leveraging the research strengths of
the Datamonitor Technology and Ovum analyst teams. With this, Ovum is
increasing its focus on customer service and support with streamlined
and more efficient ways to ensure that they can brief Ovum when bringing
new products or services to market thanks to improved analyst access.

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VISANET 2Q/09

Companhia Brasileira de Meios de Pagamento, a/k/a VisaNet, reports that revenues jumped 29% in the second quarter to 862.9 million
million reals. Net profits rose 48% to 364.8 million reals, compared to 2Q/08. The Company recently raised 8.4 billion reals through an IPO on the BMFBovespa. However, VisaNet is now being investigated by the Brazilian Justice Ministry Economic Law Department for alledged anti-competitive practices. Reportedly, the BJM SDE is assessing “the exclusive right of VisaNet to accredit businesses to accept cards carrying the Visa logo.” Visa do Brasil Empreendimentos Ltda. and Visa
International Service Association are also included in the investigation. BJM SDE has suspended VisaNet’s exclusivity for now.

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