Optimized Payments Targets Merchant Fees

GA-based Optimized Payments Consulting has launched a free online
calculator and webinars to help businesses understand and lower their
cost of electronic transactions. The tool will clear up misconceptions about processing
costs and show businesses their true effective cost of processing credit
and debit cards. This realization will cause merchants to take action
and in the process add significant savings to their bottom line
Optimized Payments Consulting has also launched a series of free monthly
webinars that discuss strategies merchants can employ to not only lower
their payment costs, but also to increase sales. The firms’ analysts
will discuss industry best practices and allow attendees to get answers
to their specific payments questions.

Details

HYPERCOM EXEC

Peter Vesco has been appointed Managing Director, Northern Europe, for
Hypercom Corporation to oversee the directing and driving Hypercom’s
business activities throughout the region, effective October 1, 2009.
Peter joins Hypercom from First Data International, where he served for
two years as Regional President, Germany, Italy, Austria and
Switzerland, out of Bad Vilbel, Germany, after having served as COO with
Vesco and Deputy CEO with ATOS Worldline out of Frankfurt. Vesco holds a
Degree from Johann Wolfgang von Goethe University in Frankfurt and a
Postgraduate Diploma in Management from University of Huddersfield in
the UK. Hypercom Corporation offers secure, end-to-end electronic
payment products and services in more than 100 countries around the world.

Details

M&M PAYWAVE

The 470 M&M Meat Shops have joined the network of Visa ‘payWave’
contactless payment merchants, allowing its customers to “wave and go”
when conducting transactions. Thanks to its contactless terminal, Visa
‘payWave’ delivers speed and convenience to participating merchants and
Visa cardholders through the security of chip technology, closely
aligned with Visa’s migration to chip card technology in Canada. Visa’s
layered approach to fraud prevention employs card technology paired with
the company’s processing network. Visa retail electronic payments
network provides processing services and payment product platforms for
local currency in more than 170 countries while M&M Meat Shops was
established in 1980 to provide consumers specialty frozen food.

Details

Economic Recovery Hope Fades Among Consumers

The glimmers of hope found in the spring surveys is quickly fading as another monthly monitor finds that consumer attitudes toward the economy reversed course from the previous three months. Over half, 51%, plan to spend less in the month ahead on discretionary purchases, a two point increase from May. The latest “Discover U.S. Spending Monitor” fell in June for the first time in four months from 86.2 to 85.6. For the third straight month, less than half of consumers have money left over after paying the monthly bills, one point lower than the previous month. Of those who do have money left over, 79% plan on having the same or more money left over than the previous month, a one point increase from the previous month. Fifty-nine percent currently rate the economy as poor and only 8% of consumers feel economic conditions are good or excellent. Compared to a year ago when gas prices were touching $4 per gallon, 15% of consumers still felt the economy was good or excellent while 54% felt it was poor.

Details

Discover’s Public Offering to Net About $480MM

Discover Financial Services priced its public offering of 54.1 million shares at $9.25 per share. The price represents a 12% discount from Monday’s close of $10.50. Discover will receive estimated net proceeds from the offering of approximately $480.3 million. The net proceeds from the offering will be used for general corporate purposes, which may include capital contributions to the company’s subsidiary, Discover Bank, possible investments in the company’s businesses, or possible repurchase of fixed rate cumulative perpetual preferred stock issued by Discover to the U.S. Treasury under its “Capital Purchase Program.” J.P. Morgan Securities Inc. is acting as the sole book-running manager for the common stock offering.

Details

ICMA Schedules MEA Workshops for the Fall

NJ-based International Card Manufacturers Association is set to hold its “Academy Workshop Series”
in the U.S. and Europe this fall. The Workshops will discuss the latest issues affecting professionals
throughout the card manufacturing industry, as well as offer topics that reflect
industry trends in each market. Topics will cover a variety of areas pertinent to each
region including innovations in security, material alternatives, card testing
options, NFC, personalization and print technology. The Workshops are suitable for card manufacturing professionals from
around the world including personalizers, issuers, card manufacturers and other
industry stakeholders. A variety of speakers from JDSU, Oberthur, DataCard, SMARTRAC,
Waytek, Mirel, HID Global, CFC International and Bayer MaterialScience
will also be featured at the Workshops who will share their insight on new industry
processes and applications and offer their perspectives on the future of the
industry. The Workshops are only open to members of the association.

Details

PAY.ON & QUOVA

PAY.ON AG payment and risk management technologies and
online transaction processor has implemented Quova’s IP geolocation data
to assist, detect and prevent fraudulent online payment transactions.
The Quova’s IP geolocation data will allow PAY.ON to establish the real
world location of a Web visitor and break down cardholder details to
country, state or even city level to compare with their registered card
details during the order process, scanning for mismatches. PAY.ON’s
fully PCI-certified online payment platform was founded in 2004 and
enables online payments to occur across numerous sectors for payment
service providers, payment scheme suppliers, acquirers, clearing houses
and risk management providers. UK-based Quova allows online businesses
to instantly identify where a visitor to their web site is
geographically located, with a 99.9% country accuracy rating.

Details

MegaPath Webinar to Offer PCI Advice

IP provider MegaPath is a participant in RIS’ “Future Proof Your
Network with MPLS and PCI Compliance” webinar.The July 14th webinar will
cover optimizing retail applications and future-proofing networks to be
both efficient and flexible; reducing costs by connecting all store
applications over a single
high-speed, PCI compliant network;removing WAN PCI compliance hurdles
through use of MegaPath MPLS VPN; utilizing Managed Security Services to
promote PCI compliance;building scalability and flexibility into a
network to accommodate changing bandwidth and connectivity and enhancing
operational efficiency through prioritization to ensure bandwidth is
available as needed for mission critical applications via use of MPLS to
achieve Quality of Service (QoS). MegaPath is a provider of managed IP
communications services in North America.

Details

NCR Ranks as Top Global Retail Supporter

A new Gartner report reveals NCR is ranked at the top for hardware
maintenance and support category in retail infrastructure support
based on worldwide revenues. Gartner also reported that NCR ranked
number 7 worldwide in financial
services infrastructure support, and number 10 worldwide across all
verticals in infrastructure support, for the same time period.
NCR has been ranked the number 10 global hardware maintenance and
support provider across all the industry segments.
The research places NCR in the number one slot as the global market
share leader in the retail trade segment and in the number 7 position in
the financial services industry. More than 175 service vendors were
evaluated for the latest report.

Details

ABA Reports Record Q1 Credit Card Delinquency

Credit card delinquencies, based on total dollars outstanding, rose to its highest level ever in the first quarter. Sequentially, delinquent dollars increased 108 basis points and based on the number of past-due credit card accounts rose 23 basis points. According to the American Bankers Association’s “Consumer Credit Delinquency Bulletin,” delinquencies based on total dollars outstanding for 1Q/09 were 6.60%, compared to 5.52% in the fourth quarter and 4.59% for 1Q/08. Based on the number of accounts past-due, the figures were 4.75% for 1Q/09, 4.52% for 4Q/08, and 4.51% one-year ago. The ABA also reported the following changes between the fourth quarter and the first quarter: Home equity loan delinquencies increased from 3.03% to 3.52%; property improvement loan delinquencies decreased from 1.75% to 1.46%; indirect auto loan delinquencies decreased from 3.53% to 3.42%; direct auto loan delinquencies increased from 2.03% to 3.01%; marine loan delinquencies decreased from 2.35% to 2.04%; RV loan delinquencies increased from 1.38% to 1.52%; mobile home loan delinquencies increased from 2.96% to 3.70%; and personal loan delinquencies increased from 2.88% to 3.47%.

1Q CREDIT CARD DELINQUENCY HISTORY
(based on total dollars outstanding)
2000: 3.94%
2001: 4.13%
2002: 4.50%
2003: 4.51%
2004: 4.65%
2005: 3.76%
2006: 3.44%
2007: 3.46%
2008: 4.59%
2009: 6.60%
Source: ABA Delinquency Bulletin

Details

Dippin’ Dots Picks CashStar for Cards

Interactive gift card provider CashStar has been selected by KY-based ice cream
retailer Dippin’ Dots to enable customers to order gift cards online.
CashStar will be responsible for the franchise’s gift card-related
offers and incentives and will provide analysis on sales and behavior.
Its virtual gift card
program makes Dippin’ Dots the first national ice cream franchise to
implement a completely Web-based gift card offering. The virtual gift
cards will be available on the company’s website (www.dippindots.com)
and can be purchased the same way plastic gift cards are ordered; only
the virtual gift card can be personalized with different images and text
and is delivered via an e-mail with a link to activate the gift.
Recipients can redeem the virtual gift card at participating Dippin’
Dots locations nationwide. Dippin’ Dots are sold in nearly 250
franchised retail locations in the United States and thousands of
entertainment venues and special events nationwide.

Details