Credit Managers Index Rebounds Slightly

The seasonally adjusted “Credit Manager’s Index” rebounded slightly in July at 50.9. For the combined index, six of the 10 components fell and six remain below 50. The CMI survey asks credit managers to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms and filings for bankruptcies.

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Metavante and NPN Into CustomPay

Metavante and auto loan acceleration provider National Payment Network
are now offering National Payment Network’s “CustomPay”.
“CustomPay” is designed to help borrowers customize the timing of
auto loan payments, accelerate loan payoffs and help build equity
faster, deploys a dynamic financial engine composed of multiple
Metavante payment components. Through its use of Metavante prepaid,
ACH and online bill payment solutions,
“CustomPay” differentiates itself from other loan acceleration programs
and delivers added value for dealers, distribution partners and
consumers. The model for many loan acceleration programs includes trust
accounts, which are typically owned by the administrator and co-mingle
consumer funds. Metavante ACH, online
bill payment solutions and prepaid debit accounts are unique to
each individual customer which enables consumer funds to be held
individually as opposed to co-mingled.

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Universal Debit/Credit Names a New President

VA-based ISO Universal Debit & Credit
Corporation announced that co-founder Lonnie D. Gaddy, III is retiring
and CEO Carlos Gavidia will assume the title of President. Gavidia and
Gaddy co-founded the organization in 1994. Together they
led the company to 15 years of continued growth, revenue generation and
development into one of the nation’s leading payment processing
specialists.

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MONEY TRANSFER

Visa has extended its “Money Transfer” service to cardholders in
Indonesia and in Singapore, allowing users to send funds conveniently
and securely to other Visa cardholders around the world. The
organization’s remittance programs are also present in the United Arab
Emirates, at 16 banks in Russia and more than 5,000 ATMs, the Ukraine and
Kazakhstan, where four banks launched the first 24/7
cross-border Visa Money Transfer service at ATMs. Since 2003, 46 Visa
Money Transfer programs have been deployed around the world in 13
different countries while research conducted by the World Bank shows
workers’ remittances around the world totaled US$240 billion in 2007 alone.

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GP & HSBC

Global Payments electronic payment processing solutions has partnered
with HSBC bank to provide payment processing services to merchants in
the Philippines and to expand the current ten-year marketing
alliance agreement among the organizations. Global Payments’ cash
obligation for the acquisition will equate to its 56% ownership in the
joint venture, or approximately $11 million, is subject to customary
closing conditions and is expected to close during Global Payments’
2Q/09. HSBC Group financial services institution has assets of nearly
US$2.4 trillion and over 10,000 offices in 83 countries while Global
Payments electronic transaction processing services provides merchants,
Independent Sales Organizations (ISOs), financial institutions,
government agencies and multi- national corporations around the world
with a line of processing solutions.

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State Card Debt Figures Released

Americans for Fairness in Lending (AFFIL) has conducted research on
median credit card debt per borrower in each of the 50 states and the
District of Columbia demonstrating credit card indebtedness has become
particularly large, especially within Alaska where the median credit
card debt is $3,384 for each borrower- $1,200 higher than any other
state. Other states leading average debt per borrower include New
Hampshire with $2,109, Connecticut with $2,094, Maryland with $2,042 and
Colorado with $2,030. States with the least amount of per capita credit
card debt include Mississippi with $1,098, Iowa with $1,135 and West
Virginia with $1,237. Americans for Fairness in Lending non-profit
organization works to end predatory lending practices, provide
information to help consumers, educate policymakers about the need for
reform and demand action to assist debt-burdened Americans.

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BMO SPEND & PAYMENT

BMO Spend & Payment Solutions North American commercial card solutions
provider has announced further expansion of its global banking
partnerships through Asia’s United Overseas Bank and Europe’s BCC
Corporate NV to enable North American companies to conduct business more
efficiently worldwide. These agreements are part of a BMO effort to
establish a worldwide network with local support banks to service
corporate card accounts virtually anywhere, allowing customers to
conduct business more efficiently. United Overseas Bank has expanded
this relationship to include locations in Hong Kong, China; Singapore;
Thailand; and Indonesia while BCC Corporate has partnered with BMO in
Belgium, The Netherlands, Luxembourg, Germany and France.

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GIVEX CROSSVEIW CERTIFICATION

Givex closed loop card technologies has certified its gift card programs
with CrossView’s solutions “multi-channel retail solutions.” CrossView
is built on the IBM “WebSphere” platform to enable merchants to sell and
redeem Givex gift cards on the web, through call centers and at retail
stores. The partnership provides the centralization of channel data,
processing, Givex’s real-time card transaction processing, support and
currency conversion. Givex card management technology was established in
1999 and has partners in over 35 countries while CrossView empowers
merchants to deliver integrated consumer
experience and optimize transactions.

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MasterCard’s Global GDV Jumps 13% in Q2

MasterCard posted second net income of $276 million on net income of $1.2 billion. MasterCard’s gross dollar volume increased 12.8% to $655 billion. The card payment network also reported a 13.6% increase in the number of transactions processed, to 5.2 billion, plus, an increase in cross-border volumes of 18.9%. Worldwide purchase volume during the quarter rose 14.0% to $493 billion. As of June 30th, the company’s financial-institution customers had issued 951 million MasterCard cards, an increase of 11.0% over the cards one-year ago. During the quarter MasterCard took a $1.65 billion pre-tax charge related to the settlement with American Express, which equates to approximately $1 billion on an after-tax basis. Additionally, a $3.4 million reserve was recorded for a litigation settlement; and $90 million in other income related to a settlement received under
an agreement to discontinue the company’s sponsorship of the 2010 and 2014 World Cup soccer events. For complete details on MasterCard’s second quarter performance visit CardData ([www.carddata.com](http://www.carddata.com)).

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ADS Inks Florida-Based Beall’s Card Deal

Alliance Data Systems will provide private label credit card processing
services to FL-based retailer Beall’s.
ADS will provide private
label credit card services, including account acquisition and activation;
receivables funding; card authorization; private label credit card
issuance; statement generation; remittance processing; customer service
functions; and marketing services to 85 Beall’s Department Stores.
Alliance Data also provides private label credit card services for
the Beall’s, Inc. subsidiaries, Beall’s Outlet Stores and Burke’s Outlet
Stores. Cardholders that have a Beall’s Outlet card or the new Beall’s
Department Stores card may use both branded cards interchangeably across
both chains.

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