Verifone’s TablePAY Expands Deployments

VeriFone Holdings announced that the Claim Jumper Restaurants chain is
using its “ON THE SPOT” payment system and plans to deploy it along with
VeriFone’s “TablePAY” solution at all 45
restaurants from California to the Midwest. Claim Jumper is using
VeriFone’s “Vx 670” point-of-service payment
solution to improve operations and make card acceptance faster, easier
and safer. The payment system provides protection from credit card
fraud, which the
Federal Trade Commission says is the most common form of identity theft.
Wireless handheld payment systems allow customers to retain control of
their cards at all times, reducing a restaurant’s risk. VeriFone systems
use encryption and other security features to protect all financial data
transacted over a restaurant’s Wi-Fi network.

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Moneris Solutions Acquires ANB Portfolio

Payment processor Moneris Solutions has acquired Alabama
National BanCorporation’s (ANB) merchant payments business,t he existing
merchant processing portfolio and 103 banking centers in the Southeast .
Moneris will now be responsible for all existing and future credit card
processing sales and
servicing functions related to ANB. The
acquisition also increases Moneris’ presence in the Southeast,
strengthens its brand in the region and expands the processor’s bank
network significantly.

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U.S. Economy Shows No Signs of Strength

The latest “Composite Index of Leading Economic Indicators”
is showing no sign of strength in the domestic economy. The Conference Board reports the “Index” dipped 0.1% in June, following a downwardly revised 0.2% decline in May, and a 0.1% increase in April. Real money supply, stock prices and weekly initial claims made very large negative contributions to the index in June, more than offsetting positive contributions from building permits, the interest rate spread and supplier deliveries. Four of the ten indicators that make up the leading index increased in June. The positive contributors include building permits, interest rate spread, index of supplier deliveries (vendor performance), and manufacturers’ new orders for consumer goods and materials.

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Purepay Lands a Former ECHO Executive

Purepay has appointed Jane Keller as VP of Strategy for the Electronic
Payments Division to oversee the growth of payment, manage the company’s
agent network and assist with the integration and organic growth of
companies in the portfolio. Keller comes to Purepay from Electronic
Clearing House bankcard/check processor where she spent seven years,
most recently as the Executive Director of the National Check Network,
providing services to collection agencies, ACH processors, financial
institutions and retail merchants. Purpay processes over one million
return items annually and is a private equity fund focused on the
strategic acquisition and operation of payments and transaction
processing companies.

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MasterCard Payment Gateway Adds E-Invoicing

MasterCard has integrated its “MasterCard Payment Gateway” with iPayables’ electronic invoice delivery capabilities to provide an end-to-end payment solution that supports settlement using a MasterCard payment card account/EFT for corporations and financial institutions. The “Payment Gateway” payment processing platform routes commercial payments between buyers, suppliers and their financial institutions while iPayables is the first non-bank reseller whose functionality is coupled with the “Gateway.” The “Payment Gateway” allows a buyer to initiate payment card and EFT payments directly from its financial system to the banks of its suppliers, no account information is shared and the supplier does not need to use a point of sale device to originate payment. Cardgo specialist Atlas Air Worldwide Holdings is the first company to utilize the integrated capabilities of the MasterCard Payment Gateway and iPayables. iPayables provides Internet invoice delivery and payment services for over 35,000 companies in 150 countries.

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UNITY 10.1

Provider of risk management and compliance, the Trintech Group has
launched its “Unity 10.1” financial governance application suite.
Integrating AssureNET GL with “Unity Financial Close,” “Unity 10.1”
improves management oversight of period-end close processes and Expands
XBRL capabilities to ensure financial reporting accuracy. “Financial
Close” brings to the new solution enterprise management and compliance
framework for the financial close process, such as risk reporting, while
AssureNET GL provides automated review, approval, and status tracking of
account reconciliations. Trintech designed “Unity 10.1” to provide
enterprise risk management, accounting compliance, account
reconciliation, financial close and financial reporting.

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MASS TRANSIT CARDS

Analysis from Frost & Sullivan suggest issuers of both contactless mass
transit smart cards and of contactless banking applications work with
merchant outlets to develop multi-application platforms. However,
Back-end systems and the infrastructure of applications in the different
sectors are often not linked, presenting a short-term issue for the
suggested interoperability. Frost & Sullivan Growth Partnership Company
provides its “TEAM Research”, “Growth Consulting” and “Growth Team
Membership” to its clients to create a growth-focused culture from its
more than 30 offices on six continents.

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FIMA 2008

The dates of the 6th annual FIMA conference, “FIMA 2008,” has been
scheduled for the 11th to the 13th of November 2008 at the London
Olympia. “FIMA 2008” will host over 400 senior financial data
practitioners to touch on key initiatives and future projects with a
focus on enhanced data quality and reduced operational risk. The 2008
conference will especially focus attention on how organizations can
transform long-term data management goals into immediate-term
deliverables. “FIMA 2008,” led by investment banks and asset managers
worldwide, concentrates on contemporary developments in data management
and will be sponsored by such suppliers as CapGemini Consulting India,
SmartCo, Alacra, Counterparty Link, Informatica UK, Xtrakter, Thomson
Reuters, Interactive Data and Goldensource.

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CITI OCTOPUS CARD

Citibank and Octopus Cards have introduced the first credit card in Hong Kong that offers a credit card function, a contactless smartcard payment function, and cashback in addition to the existing “Octopus Rewards” program. The new “Octopus Citibank Credit Card” comes as a “Platinum Card” and a “Gold Card” and features an automatic reload from the credit card for “Octopus” functionalities. At least 0.5% of eligible credit card spending will be offered as a cash rebate to offset the “Octopus Automatic Add Value” amount. There is no annual credit card fee and no HK$50 deposit for Octopus. Launched in 1997, Hong Kong’s Octopus is the world’s leading and most extensive smartcard payment system, with over 2,000 service providers across different businesses including public transport, parking, retail, vending and kiosks, schools and leisure facilities, and access control for residential and commercial buildings, with about 50,000 Octopus readers deployed in the market.

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U.S. Bank Launches Mobile Banking Nationwide

U.S. Bank has launched its mobile bank account access solution for its
internet banking customers. Targeting the 220 million Americans who
currently subscribe to wireless services, the m-banking solution allows
users to check balances, obtain transaction history and transfer money
using any major mobile phone carrier that provides mobile internet
access. The Bank will eventually enhance the solution to allow customers
to pay bills through its Internet Bill Pay and provide text
message-based alerts/services. U.S. Bancorp has $247 billion in assets,
operates 2,542 banking offices and operates 4,895 ATMs throughout the
Unites States.

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CONSUMER PULSE

France’s leading index decreased .5% while the coincident index was
unchanged for the month of May 2008 according to the Conference Board.
The leading index’s decline for the seventh consecutive month is
consistent with a 2.1% decline over the past 6 months. Meanwhile, the
coincident index having not changed for the month is inconsistent with a
.9% increase over the previous 6 months and is a direct result of
negative contribution from industrial production that was offset by
positive contributions from personal consumption of manufactured goods,
employment and wages. Founded in 1916, The Conference Board is a
business membership and research network to help executives build
professional relationships, expand business knowledge and find solutions
to business challenges.

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