CUP & CITI

The TSYS and China UnionPay joint venture, China UnionPay Data
Services, has signed a multi-year debit card processing agreement
with Citibank China for undisclosed terms. The Citi China CUP-standard
debit card can be used at all China UnionPay terminals and Citibank ATMs
in more than 30 countries. Citi China has branches in Beijing, Shanghai,
Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou and Dalian, Citi has
operations in more than 100 countries around the world, CUP Data
bankcard processor has over 50 signed credit- and debit-processing
client contracts in which TSYS owns a 44.5% equity stake and to which it
provides outsourced payment services.

Details

Deluxe to Cut Nearly 600 Jobs; Close 3 Plants

With manual check demand softening and an overall weak economy, check printing king Deluxe Corporation reports it will make several cutbacks. The changes will reduce the Company’s workforce by approximately 570 people. The Company plans to close its Greensboro, North Carolina and North Wales, Pennsylvania, manufacturing facilities and its Thorofare, New Jersey, manufacturing facility and call center.
The North Wales and Thorofare closures are expected to be completed in
the first quarter of 2009, while the Greensboro facility will play a
transitional role and is expected to close later in 2009. The other
employee reductions should be complete by the end of the third quarter of 2009. Deluxe reaffirmed its revenue outlook for 2008 with an estimated range of $367 million to $374 million for the third quarter.

Details

Harold’s Extends Loyalty Beyond Cards

TX-based Specialty clothing retailer Harold’s Stores has expanded its
“Style
Points” loyalty rewards program and is now open to all customers. In the
past, the rewards program has been reserved exclusively for purchases
made using the Harold’s Wardrobe
Card. Customers will continue to receive a $25 reward for every 500
Style Points earned. This would allow a customer to use any credit card,
one with airline rewards for example, and also have the same purchase
rewarded by Harold’s. Other changes to the program include distributing
rewards via email instead of the mail, which will ultimately allow
customers to receive and redeem their rewards more quickly. Seasonal and
double Style Points opportunities will still allow valued customers to
earn rewards faster during certain times of the year.

Details

VISA MOBILE

Visa is launching four new mobile payments programs. Two commercial mobile payments programs are being started in Brazil and Korea, along with two mobile offers and transaction notification pilots in the USA. Visa has more than a dozen pilot and commercial programs using its mobile platform underway worldwide. Visa recently announced a partnership with Chase Bank for a pilot program to deliver personalized mobile offers to select consumers in Phoenix, AZ. PNC Bank, SunTrust Bank, U.S. Bank, Wachovia, and Wells Fargo along with RBC, TD Bank, and Vancity in Canada, are testing a transactions notification program that is able to send near real-time information to cardholders. This week, Visa announced the availability of remote mobile payments in Brazil by Banco do Brasil, the first program of its kind in Latin America. As a world first and in partnership with T-Money provider Korea Smart Card Company, card issuer Shinhan Bank and Korea Telecom Freetel, Visa has made it possible for commuters to use their Visa account to top up their T-Money balances automatically on the phone’s SIM card when it falls below a certain level.

Details

PRECISE & GLOBALPLATFORM

Precise Biometrics fingerprint recognition technology and GlobalPlatform
smart card specification body have partnered to develop the
‘match-on-card’ biometrics of the former. Precise Brothers will also be
contributing to the development of a GlobalPlatform white paper
addressing the industry standardization effort for biometrics and the
company’s value proposition for biometric match-on-card applications.
GlobalPlatform member driven association provides smart card
infrastructure development around the world while Precise Biometrics
offers expertise in fingerprint verification for fast, accurate and
secure ID authentication to more than 78 million users on all continents.

Details

MOZCOM & ECAPAY

Mozcom PayEasy Online Payment System has partnered with
Ecapay to extend its online direct debit service to China, Thailand and
Taiwan. Developments such as these prepare the region for the looming
boom in Intra-Asian e-commerce, directly resulting from increased trade,
tourism and the introduction of the ASEAN Free Trade (AFTA) Area
initiative. Ecapay is operated by Wheaton Global Ltd., a privately
funded company grounded in banking and specializing in Asia payment
solutions with a team of Asian-based technical developers. Its payment
network connects all the major banks, carriers and merchants for online
and offline payments.

Details

Springbok Expands its Card Program

CO-based prepaid card provider Springbok Services is now offering private label prepaid cards for its corporate
clients. Springbok’s newest private label offering enables end-users to redeem
the cards only with a specific merchant or group of merchants as
determined by the client. This directs all funds back to the locations
of choice and optimizes the success of a client’s loyalty program.
Springbok’s private label prepaid cards require no changes to a
merchant’s point-of-sale (POS) system and the private label cards solely
reflect the client’s brand. Springbok designed its new private label prepaid cards to be
fully customizable, allowing clients to most effectively promote their
organization and strengthen their brand among their target audiences.

Details

EFTSEC SERVER

Six major Thailand banks have deployed Hypercom’s “EFTSec Server” to
protect cardholder data from wire tapping when the information is
transferred between retail point-of-sale (POS) terminals and the issuing
financial institution. The secure “EFTSec Server” is activated by
plugging it into an existing Hypercom network infrastructure without
causing disruption to data flows. Hypercom provides high security,
end-to-end electronic payment products or services to businesses in more
than 100 countries and is now the second largest provider of electronic
payment solutions and services in Western Europe.

Details

JULY METRICS

The “Monthly Payment Rate” and the “Yield” for credit card-backed securities in the U.K. increased significantly in July.
“Delinquency” remained stable for the third consecutive month and “Charge-Offs” also improved in July. According to FitchRatings the “Monthly Payment Rate” increased to 18.60% in July, compared to 17.00% in the prior month. Fitch also reports that the “Yield” rose to 20.9% in July, compared to 20.2% in June. The Fitch “Charge-Off Index” decreased to 6.5% in July after hitting 6.9% in June, the highest level in nine months. The Fitch “Delinquency Index” was flat at 3.7% for July, its highest level since June 2007. Fitch noted that the buyback of delinquent receivables by Egg has to some extent distorted
the reported performance for the Pillar trust, artificially increasing the MPR and decreasing charge-offs, which has had a slight impact on its indices.

Details

NetSpend and ACE Launch March of Dimes Visa

NetSpend has teamed with ACE Cash Express to launch the first charitable prepaid reloadable debit card product. The new “March of Dimes Prepaid Visa” will support programs of research, community services, education, and advocacy to save babies. ACE will donate a portion of every purchase made with the “Pink” card to the March of
Dimes. ACE Cash Express, the largest owner and operator of check
cashing stores in the U.S. and the second largest owner and
operator of short-term consumer loan stores in the nation, has raised more than $1 million for the March of Dimes over the last five years
through an annual employee fundraising program.

Details

PAPERLESS CONCERTS

Ticketmaster will be introducing its “Paperless Ticket” solution in
Europe at Metallica’s “Death Magnetic” tour-kickoff concert, which will
be held at the O2 in London on September 15. The more than 15,000
attendees will not have to wait at box-offices to collect tickets,
rather need only swipe a Visa payment card for identification after they
have purchased entry online or over the phone and will be allowed entry
to the concert. “Paperless Ticket” speeds access to venues, reduces the
amount of paper used to print tickets and reduces the impact on the
environment. Ticketmaster operates in 20 global markets, providing
ticket sales, ticket resale services, marketing and distribution through
its web portal, 6,700 retail outlets and 21 worldwide call centres for
more than 10,000 clients worldwide.

Details

Zuora Board Adds a PayPal Exec

CA-based subscription billing service Zuora has appointed Scott
Thompson, president of PayPal, to the company’s board of directors.
Thompson has overall responsibility
for PayPal’s global operations, technology and customer adoption.
Scott previously served as PayPal’s senior vice president and chief
technology officer, where he oversaw information technology, product
development, and architecture. Prior to PayPal, he worked for
Inovant, a subsidiary of Visa formed to oversee global technology for
the organization. As executive vice president of technology solutions at
Inovant, he was responsible for all development, support and maintenance
of Visa’s global payment system.

Details