ideaEDGE’s Socialwise has finalized the production version of the companyâs “BillMyParents” payment system and is ready to go prime time. Launched in December, “BillMyParents” is a secure way for kids to shop online, while enabling parents to track and maintain control of expenditures. To prepare for launch, Socialwise has completed extensive testing of the “BillMyParents” youth payment system and related Application Programming Interfaces that will be integrated into popular social network applications and online e-Commerce environments. The company is launching with several leading social network application publishers/developers and online web-based casual gaming companies that cater to the teen demographic. Socialwise expects that BMP will be fully integrated with these partners within 60 days.Details
AXS, the Singapore-based “Electronic Service Delivery Network” operator has selected Hypercom to provide a high security end-to-end technology upgrade for AXS’ more than 560 automated self-service kiosks. These AXS Stations will for the first time enable ATM card holders to pay for an array of services 24/7 at the hundreds of kiosks
strategically located throughout Singapore. The high speed, high security Hypercom integrated solution consists of the “Optimum T4220” Ethernet terminals embedded in each kiosk working in tandem with Hypercom’s “MegaNAC 180” network access controllers and EFT-Master electronic funds transfer server software at the back-end to
expedite direct debit transactions between the AXS data center, the
cardholder’s financial institution and the AXS Station.
Payment service provider Bling Nation has appointed Luke Helms,
vice-chairman at BoA, to serve on the Board of Directors.
Helms began his career with San Francisco, Calif.-based Bank of
California in 1968. Prior to his advisory role with
Bling Nation, Helms served as vice chairman of Cleveland, Ohio-based
KeyBank and vice chairman of Charlotte, N.C.-based Bank of America Corp.
and Bank of America NT&SA. In 1993, Helms became vice-chairman of Bank
of America with responsibilities that included retail banking in
California and all affiliate banks in 10 Western states.
Through its Community Payments Service, Bling Nation enables financial
institutions to more profitably and securely support payments between
their local demand deposit account (DDA) customers and their merchant
customers by bypassing the current global debit payment model and
replacing it with an efficient, cost-effective and local payment network.
Virgin Atlantic Airways announced the winner of its
“Virgin Atlantic Plastic Galactic Giveaway” which was launched in June
2008 when the airline unveiled the “Virgin Atlantic American Express
Card” from Bank of America. Cardmember Christopher Mohawk will be on of
Virgin Galactic’s early space flights after being
randomly selected from the names of Cardmembers who made at least
$10,000 in purchases on the card from launch through Jan 31. “The Virgin
American Express Card” offers rewards and benefits
that are among the best in the industry. Cardmembers earn 3 miles for
every $1 spent on Virgin Atlantic purchases and up to 1.5 miles for
every $1 spent on everyday purchases, making it one of the most
rewarding major international airline credit cards in the market today.
GiftCards.com has issued the new “NMF Visa” gift cards with no monthly maintenance fees.
The “NMF Visa” giftcard offers customers the ability to personalize the card by adding the
recipient’s name and a personal message. There are dozens of styles to
choose from and cards can be issued in any denomination. Visa gift cards can be
used anywhere Visa is accepted and can even be used to pay bills.
Monthly maintenance fees can range from $1.00 to
$5.00 and are standard in the Open Loop gift card industry.
Gemalto has been commissioned to
carry out the migration to microprocessor EMV credit cards for the Royal Bank of Scotland to new markets in
Indonesia, Taiwan and India. The first project
commenced in October 2008 in Indonesia, with projects in Taiwan and
India to follow, and involved the conversion of the Bank’s traditional
magnetic stripe cards to EMV cards. Gemalto provides RBS with a complete
range of products and services including personalization and project
management. Fraud reduction is the major driving force behind Asia’s commitment to
EMV migration. According to the Indonesian Credit Card Association,
credit card fraud in the country amounted to 35 billion rupiah
(approximately 2.3 million Euro) in 2007. Gemalto has already
successfully completed the migration to EMV cards for 3 in 4 banks in
Indonesia, well ahead of the 2010 migration mandate set by the Bank of
Indonesia.The smooth project implementation resulted in a record
turnaround time of three months, instead of a typical industry average
in Asia of five to six months, translating into tangible operational
savings for RBS.
IL-based tekservePOS has acquired POS provider Restaurants Solutions.
RSIâs solutions include POS hardware, POS software, 24 / 7 help desk
repair center, and on-site and installation services serving over 4,000
quick service restaurants and dining establishments nationwide. In
addition, RSI is the official Squirrel distributor for the Chicagoland area.
In addition to offering its products and services to the hospitality
space, tekservePOS will leverage RSIâs industry-leading capabilities and
staff knowledge in the retail environment. tekservePOS plans to rollout
help-desk capabilities to support tekRETAIL Suite, its new POS software
Gift card provider and loyalty marketer Givex has been awarded
certification to “Vision BeanStore” by the PCMS Group. Vision BeanStore
is a multi-sector PoS product
developed to meet the needs of retailers from many different markets.
Businesses using “BeanStore” will now be able to sell Givex gift cards and
accept them as alternate forms of payment. Givex provides other
solutions for all
aspects of a merchant’s business including: loyalty cards, e-gift
cards,returns cards, employee incentives, expense accounts, promotional
Growth in credit card debt in Australia dipped again in January, declining by A$700 million. Credit card volume also slipped 3% due to the weight of credit card surcharges and the economy at large. Year-on-year credit card debt growth has slowed to 5%, compared to 6% in the prior month and 10% one-year ago. According to the Reserve Bank of Australia credit card balances hit A$44.6 billion in January versus A$42.3 billion one-year ago. Credit limits now stand at A$123.6 billion, compared to A$115.3 billion in January 2008. According to the Reserve Bank of Australia there are currently 14.3 million credit card and charge card accounts in Australia, compared to 14.0 million one-year ago.
CREDIT CARD HISTORICAL
MONTH BALANCES VOLUME
Dec 07: 42.7 19.2
Jan 08: 42.3 17.1
Feb 08: 43.3 17.5
Mar 08: 43.0 17.1
Apr 08: 43.6 17.7
May 08: 44.0 18.3
Jun 08: 44.5 18.3
Jul 08: 44.4 19.0
Aug 08: 44.6 17.8
Sep 08: 44.6 19.2
Oct 08: 44.7 19.4
Nov 08: 45.3 17.6
Dec 08: 45.3 21.5
Jan 09: 44.6 16.6
Source: Reserve Bank of Australia
GlobalPlatform will hold a one day card specifications
technology training session in Vienna, Austria on Thursday
April 23, 2009. The training has been
designed to improve industry knowledge of the smart card specifications
available, their function and capabilities, and the benefits gained from
implementing standardized technology. The session will cover
GlobalPlatform’s role within the industry and its suite of
specifications, provide a thorough training on ‘core’ card
specifications and exclusively outline GlobalPlatform’s forthcoming
American Express has launched a nationwide promotion that will allow all consumer charge cardholders to earn double points on U.S. standalone gas and grocery purchases up to $1,000 dollars of eligible spend each month, starting March 22nd through March 15th, 2010. To take advantage of the offer, cardholders must enroll their existing charge cards online. Consumers who apply and are approved for the AmEx charge card from April 1st, 2009 through June 30th, 2009 will be automatically enrolled in the promotion for the 12-month period beginning the date their card account is created.Details
Western Union and U.S. Bank have inked an agreement for a global money-transfer service in 2,791 U.S. Bank branch offices across 24 states. The agreement will connect consumers to more than 334,000 Western Union Agent locations worldwide. In 2008, Western Union completed more than 188 million consumer-to-consumer transactions worldwide. The Western Union money-transfer service will be available at U.S. Bank locations as soon as May. U.S. Bank walk-in consumers will be able to send domestic or international money transfers for payout in 200 countries and territories. Plans also include expanding Western Union’s services to U.S. Bank online consumers. Western Union operates through a combined network of more than 375,000 Agent locations in 200 countries and territories.Details