PULSE to Test Acculynk’s PaySecure PIN debit

PULSE has signed an agreement with Acculynk under which PULSE will test Acculynk’s “PaySecure” Internet PIN debit technology in a pilot program. The pilot will involve selected PULSE merchant and financial institution participants and is slated to begin in the second quarter of 2009. Acculynk’s PIN-pad technology integrates directly into the merchant checkout process, providing a seamless experience for online shoppers. The consumer will be aware of the PIN entry option only if his or her card is enabled for PIN debit. The consumer will have the choice of entering their PIN or completing the purchase as a signature debit transaction.

Details

M-CUBE & DEMELZA

Prepaid card provider M-Cube has launched the new “Demelza MasterCard”
prepaid card and will back the fundraising effort by donating 100% of the profits generated from every cardholder transaction to Demelza.
Demelza is an organisation providing hospice care for over 570 children
with life-limiting illnesses and their families across Kent, East Sussex
and South London. In addition, M-Cube has pledged to bear the costs incurred by all other
suppliers involved in launching the programme. The prepaid card will be
issued by Newcastle Building Society, which has also agreed to waive its
start-up costs associated with launching the programme. Cardholders will be able to
benefit from a range of additional benefits including premier discounts from including retailers, leisure centres and
theatres; ash back rewards on selected purchases; free day out vouchers, DVD rentals, music downloads and magazines and exclusive competitions.

Details

Allpoint Inks Cardinal Community CU

OH-based Cardinal Community Credit Union has selected surcharge-free Allpoint as its ATM network provider.
Cardinal chose Allpoint due to the Key Bank surcharge-free ATM program
being shuttered, leaving the credit union to find a quick solution that
made sense for Cardinal members. Allpoint was able to provide Cardinal
surcharge-free access before the Key Bank service terminated; ensuring
cardholders have surcharge-free access to their funds despite the
unexpected loss of the Key Bank program.
Cardinal Community Credit Union serves more than 20,000 members and controls more than
$160 million in assets.

Details

Credit Card Mail Reduction Impacts USPS

The US Postal Service is making changes in management and giving thousands of employees early retirement. The Postal Service is set to offer 150,000 workers the option of taking an early retirement, as well as make cuts in management. The Post Office will also be closing offices as part an effort to eliminate over 1,400 management positions, in response to financial losses caused by the troubling economy.

The Postal Service has stated it has had to cut millions of work hours, halted new construction projects, freeze executive salaries, and other activities to adjust to the financial shortfall from dramatic decreases in mail volume.

The Post Office is stated to have reported $384 million in first quarter losses for the fiscal year.

Details

On Track Innovations Slips 30% in 4Q/08

On Track Innovations reported revenues for the fourth quarter were $9.1
million, a decrease of 30% compared to $13.0 million in the same period
last year. Net loss for the year was $17.2 million. The Company says it
has implemented a cost cutting plan and has been able to reduce its
operating expenses on a non-GAAP basis (excluding other operating
expenses) by 17%. The program includes: a 10% executive pay cut,
workforce reduction, reduction in employee benefits, closing certain
development activities for low margin products, and consolidating
production centers. OTI says it is targeting revenues between $45 to $50
million for 2009. For complete details on OTI’s latest performance visit
CardData ([www.carddata.com](http://www.carddata.com)).

Details

Diners Club Intl and SIX Multipay Team

Discover Card’s Diners Club International and SIX Multipay, a Swiss-based payment services provider, announced that they have signed a long-term merchant acquiring agreement. SIX Multipay will provide merchants with single source electronic payment services for the acceptance of Diners Club and Discover Network card products in key European regions including Switzerland, the United Kingdom, France, Germany, Ireland, Belgium, Netherlands and Luxembourg. This is the first multi-country, acquirer agreement to further European acceptance of Diners Club and Discover Network cards.

Details

Metavante and Waterfield Bank Partner

Financial services provider Waterfield has partnered with Metavante for core processing services. This partnership includes a unique solution that allows
Waterfield Bank customers will experience a
more streamlined system through the Metavante partnership by receiving
one statement, one check book and one debit card and be able to
access multiple FDIC-insured institutions. This partnership includes a unique solution that allows
Waterfield Bank customers access to up to $750,000 in FDIC insurance
through a single account.

Details

CASH USE

A new report, “Tapping potential in Europe’s
card market” from Arthur D. Little reveals that cash
payments still constitute 80% of total payments made in Europe. Arthur
D. Little advises that for European card
providers seeking further growth, maximizing the value they derive from
customers and expanding the customer base will be key issues. Card
providers can pursue increased customer value by retaining existing
customers, acquiring new customers and targeting high-value customers
and recommends that card
providers should make customer retention their prime focus. The report
cites a number of examples of reward programs that have
combined with banking services to provide benefits to customers beyond
traditional points schemes. The Bank of America, for instance, has
recruited over 5 million customers since the launch of its ‘Keep the
Change’ card in October 2005, which enables cardholders to automatically
transfer to a savings account the difference between the price of a
purchase and the price rounded up to the nearest dollar. In South Korea,
check cards differ from credit cards
in that payment is drawn directly from the cardholder’s checking account
(like a debit card), but are similar in that they offer benefits such as
discounts, air miles, cash back and monthly bill payment. As a result,
South Korea has seen a rapid growth in the adoption of this type of card.

Details

DEC VOLUME

Growth in credit card debt 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.

Details

Mass Affluent Consumers Not Affected So Far

A new survey has found that “Mass Affluent” consumers (78%) have not
changed their credit card payment behavior in the last 12 months,
despite economic turmoil in the country. Of Mass Affluent respondents
who changed their payment behavior, Chicago-based Mintel found that 11%
formerly paid credit card balances in full each month but now don’t,
while 11% are now making smaller monthly payments. Younger “Mass
Affluent” consumers, especially those under age 45, are more likely to
be making smaller payments each month. Hispanics too have been harder
hit by the economy, and 50% of “Mass Affluent” Hispanics say they’ve
changed their payment behavior. Though most “Mass Affluents” are paying
off their credit card bills each month, Mintel found that many feel
deeply affected by the faltering economy.

Details

VISA SECURITY SURVEY

Reinforcing the need for vigilance on security at the merchant level,
Visa released a new survey showing that many consumers are choosing to
shop only with retailers they trust to protect their personal data. Of
the 800 U.S. credit and debit cardholders surveyed February 3-5, 2009,
59% said they had decided not to make an online purchase at a particular
web site because they did not trust that site. Another 49% said they had
opted not to shop with a merchant they did not recognize, for fear of
having their personal data stolen.

Details