NCBP Expands into Chicago Area for NCR

North Country Business Products(NCBP), an NCR retail reseller, is
expanding to provide retailers in the Chicago metro area with NCR retail
technology solutions. Promoting the new development, NCBP and NCR is
inviting retailers from around the area to its reception located in Oak
Brook, Ill, which will feature demonstrations of NCR’s industry-leading
solutions for the food industry on June 9th. NCBP provides such NCR
retail solutions as the “SelfServ Checkout” self-checkout, the “Advanced
Checkout Solution” POS software, the “NCR RealPOS 80XRT” POS workstation
and the “NCR RealPOS” Bi-Optic Scanner/Scale. MN-based NCBP has been
distributing POS products and solutions for 31 years, employs 220 in 11
states and is 100% employee owned. The NCR Corporation offers its ATMs
and self-checkout solutions in over 100 countries.

Details

AmEx and Chase Say No More TARP Funds

American Express and Chase have tapped the equity markets to begin
repaying the funds the received under the “Troubled Asset Relief
Program.” Chase is seeking to raise $5 billion while AmEx is seeking to
raise at least $500 million. AmEx is offering 19.8 million shares of its
common stock at a price to the public of $25.25 per share. AmEx says the
capital raised will be used for general corporate purposes which may
include the partial funding of a repurchase of $3.4 billion of preferred
shares issued to the U.S. Treasury as part of the “Capital Purchase
Program.” Last month, AmEx announced it was seeking permission to repay
the government investment, after receiving a final report from the
Federal Reserve that concluded there would be “no capital need” under
the more adverse assumptions used by the “Supervisory Capital Assessment
Program.” Chase says it is raising the funds in common equity to satisfy
a supervisory condition that the largest bank holding companies
redeeming TARP. While approval has not been granted, the company
believes that upon completion of this capital raise it will have
satisfied the criteria for fully redeeming the TARP preferred capital
and expects to do so before the end of June. Chase expects to have “Tier
One Capital” of approximately $118 billion or 9.3% and “Tier One Common”
of approximately $93 billion or 7.3% at the end of the second quarter,
after the capital raise and the “TARP” preferred capital redemption.

Details

ProPay and Jenkon Introduce ProtectPay

UT-based merchant payment solution provider ProPay has
partnered with enterprise management software developer Jenkon to offer
“ProtectPay” PCI compliant software.
ProPay’s “ProtectPay” can remove the need for customers to handle credit
card data by creating a unique identifier for each credit card, which is
used by the Jenkon system for processing and recurring payments. By
using the unique identifier, rather than the actual credit card data,
merchants eliminate exposing the data unnecessarily. Therefore sensitive
data is not compromised since the identifying number does not hold any
significance to a specific account. Data in ProPay’s system is protected
using industry best practices for security and encryption.

Details

Tetherball Powers DQ Mobile Rewards

Loyalty and rewards provider Tetherball has teamed with RFID developer
ViVOtech and introduced the “Tetherball Tag” RFID chip. Tetherball helps clients “tether” their brand to
target audiences by identifying what their customers want and delivering
mobile campaigns. Upon joining,customers are given a “Tetherball Tag”,
a tiny RFID chip that is easily
affixed to their mobile phones, which uniquely identifies them through
Tetherball’s sophisticated technology platform. Tetherball clients are
then able to send offers to their customers via standard text messaging.
Offers are redeemed electronically using existing in-store RFID point of
sale terminals or stand-alone RFID kiosks provided by Tetherball.
Mobiquitous, a patent-pending real time web-based reporting system,
delivers detailed visibility and analytics into coupon redemption rates
and overall program performance and provides clients with “real time
visibility” so that they can adjust
quickly and leverage the real time nature of mobile marketing.

Details

TD BANK 1Q/09

TD Bank Financial Group reported its 1Q/09 results showing a reported net
income of CAD$618 million and an adjusted net income of CAD$1,089
million, compared with CAD$973 million for the year ago period. During
the quarter, the Bank also recorded a PCL of CAD $656 million, an increase
of CAD $424 million compared with the second quarter last year, mostly
thanks to higher provisions in Personal and Commercial Banking and
Canadian Personal and Commercial Banking with an increase of CAD$110
million in general allowance for credit losses. Overall credit card
loans totaled CAD$500 million for an average expected account life span of
3.2 years while the allowance for credit losses of CAD$2,178 million was
comprised of total specific allowances of $517 million with a general
allowance of CAD$1,661 million. The Toronto-Dominion Bank serves
approximately 17 million customers and has nearly $575 billion in assets.

Details

Costs Vary Widely for the Underbanked

A new research report on how much prepaid cardholders spend each month to conduct essential financial transactions, compared to what they would spend if they used only a checking account or check cashing services has been released. The study found that the range of monthly costs to use prepaid cards is $6.00 to $64.95. Using a check casher is the most expensive with monthly costs ranging from $10.00 to $97.20. Using a bank checking accounts produces monthly costs from $9.89 to $47.01. The research by The Center for Financial Services Innovation also found that each of these services can be used relatively cost effectively, if the individual has access to low cost providers. Instead, consumers of financial services must evaluate their own cash flow needs, behaviors and preferences in order to choose the combination of products and services that is the best fit for them in terms of both price and functionality. CFI notes that individuals who live in underserved markets often pay more for basic goods and services than other Americans. Many factors contribute to this phenomenon. Higher costs to do business in underserved neighborhoods and a lack of competition diminish the supply of appropriately priced goods and services. On the demand side, underserved individuals often face meaningful barriers to seeking out the lowest price option (such as lack of time or a car), or require product features for which they are charged a premium.

Details

Credit CARD Act White Paper Released

CHH has released a new white paper that analyzes the Credit CARD Act.
The report, entitled
“Credit Card Reform: An Analysis of the Credit CARD Act”, examines the
Act, which is designed to provide consumers with access to credit on
terms that are
fair and more easily understood.
Nearly 75% of U.S. households use at least one
general-purpose credit card, and revolving consumer credit in the United
States has more than quadrupled over the past two decades. As usage of
credit cards
has grown, so have the variety of fees and practices.
Wolters Kluwer Law & Business is a provider of research
products and software solutions in key specialty areas for legal and
business
professionals, as well as casebooks and study aids for law students.

Details

Overall U.S. ABS Market Rises 8% in 08

Despite the weakness in the U.S. credit card ABS market the overall U.S. asset-based lending industry grew by 8.3% in 2008
and approached $600 billion in total loans outstanding. According to a new survey from the Commercial Finance Association the top three industries utilizing asset-based lending in 2008 were retail, steel and food. However, these industries collectively represent less than one-third of total outstanding loans. The factoring industry experienced a stable 2008, growing by 0.5% despite the current credit environment.
The textile/apparel industry continued to prevail as the leading
industry utilizing factoring. CFA notes that 2008 marked the seventh consecutive year of growth in the asset-based lending industry.

Details

NCR’s 2ST is Ready for Prime Time

NCR has completed the market building phase of the the 2ST thermal print
technology IP licensing program.
Companies that enter into a 2ST printer IP
license by December 1, 2009 will receive more favorable terms. After
that date,
2ST printer IP licenses will be offered on significantly higher terms,
if they are offered at all. New 2009 2ST printer installations
are on track to more than double the current installed base. In
addition, new products and applications are being developed for
two-sided thermal printing including 2ST label printers, which allow
businesses to maximize the real estate on their shipping labels and
reduce the number of shipping documents that need to be printed.

Details

tekservePOS and Squirrel Systems Partner

Squirrel Systems has appointed tekservePOS its authorized POS hardware,
software and services provider for the Illinois hospitality industry. In
addition, tekservePOS will provide Squirrel Systems its 24 / 7 help desk
support for its software / hardware platforms, repair/maintenance
services and on-site and installation. Squirrel Systems full-service POS
solutions in the foodservice and hospitality industry was established in
1984 while tekservePOS IT solutions aims to help merchants consolidate
vendors and reduce costs with its IT solutions in the Hospitality,
Retail, Convenience and Grocery industries. Additionally, tekservePOS’
recently introduced “tekRETAIL” Suite offers customers 24/7 Help Desk
Support and partnerships with top hardware providers.

Details

ACS Wins an Award for OK Benefits MC

The Oklahoma Department of Human Services and Affiliated Computer
Services have won a “2009 Quality Award” for their debit MasterCard
program for state benefits. The Quality Award recognizes OKDHS
projects that best serve the citizens of Oklahoma. ACS is an operational
partner to OKDHS by administering its electronic
payment card program that provides state benefits to citizens on a debit
MasterCard. OKDHS’ team contacted Oklahomans who are recipients of the
State
Supplemental program to make them aware of their available benefits and
help them receive the funds. The eight-week program reached
out to approximately 800 clients, connecting them with more than
$425,000 in benefits. ACS assisted by providing no-cost services and the
information necessary to help the state make the funds quickly
available. ACS serves
as an operational partner to more than 1,700 government agencies on the
federal, state, county and local level. ACS manages 22 electronic
payment card programs for state and federal clients, disbursing
government payments and benefits.

Details