MOBILE PAYMENTS FORECAST

Analysis conducted by Juniper Research through applications and service
case studies has demonstrated the gross transaction value of mobile
phone commerce will exceed $300 billion by 2013. These findings
demonstrate a projected 500% growth in transaction volume during the
next 5 years, 40% of which will be driven by the ticketing segment to
include rail commuters and the like. Additional findings show the Far
East and W. Europe will represent over 60% of the growth, the latter to
see most growth in physical goods purchases while the
former-specifically Japan- is already well established in physical goods
sales over the mobile web. Juniper Research also interviewed 37 senior
executives across a range of vendors/operators to establish these
conclusions.

Details

Fifth Third Offers a World Elite MasterCard

OH-based Fifth Third Private Bank has unveiled the “World Elite MasterCard” offering complimentary airport club access, 24/7 concierge service, as well as a personal travel advisor and other unique travel privileges through MasterCard’s relationship with Virtuoso, a luxury travel network. The new card is targeted at households with incomes greater than $250,000, who spend over $40,000 annually on credit cards. Virtuoso’s network links 6,000 consultants worldwide. It offers two-for-one airline travel from select U.S. cities to international destinations around the world when your air travel is booked through a Virtuoso travel advisor and paid with a “World Elite MasterCard.” The firm also offers “VIP” status, including complimentary daily breakfast for two, room upgrades (if available), preferred rates, and valuable customized offers at more than 700 of the world’s finest hotels, resorts and spas. Additionally, Virtuoso’s hallmark cruise program, “Virtuoso Voyager Club” provides a warm reception on the world’s finest ships, including a dedicated onboard host, a complimentary cocktail reception, a meticulously planned shore event, and more. Fifth Third Bancorp operates 18 affiliates with 1,316 full-service Banking Centers, including 102 “Bank Mart” locations open seven days a week inside select grocery stores and 2,335 ATMs in OH, KY, IN, MI, IL, FL, TN, WV, PA, MO, GA and NC.

Details

BOC & OPTEVA

The Bank of China has designated Diebold as the exclusive ATM provider,
having installed the organization’s “Opteva” teller machines at select
Beijing Olympic facilities. These facilities include key
competition venues and facilities in the Olympic and Media villages in
Beijing and Qingdao. The “Opteva” ATMs will provide banking customers
access to funds in the Chinese, English and French languages while
Diebold will be implementing added service resources, the appropriate
components and extended operation of its customer service centers in the
region during the games to ensure steady operation. Diebold provides
secure self-service delivery systems to organizations around the world
and employs over 17,000 associates in nearly 90 countries.

Details

PaySimple Hires an Engineering Expert Exec

On-demand payment solution provider Pay Simple has hired Sherri Hammons, previously with Abacus, as VP of Engineering. Hammons has over fifteen years of development experience. At Abacus, a cooperative database company for the direct marketing industry she was vice president of data and model performance and oversaw the company’s software development for international markets as it expanded to London, Japan, Germany and France. She was also involved in all the technical integrations and due diligence for Abacus’ acquisitions, including its acquisition by DoubleClick in 1998, and subsequent Abacus/DoubleClick acquisitions such as MessageMedia and CSC Advanced Database Solutions. Hammons has a Bachelor of Business Administration from the University of Oklahoma and a Computer Science degree from Rogers State University. PaySimple provides an on-demand Software as a Service (SaaS) platform that enables small businesses to bill, collect, and manage their customer payments under one user-friendly system.

Details

Pemco Technologies Offers Prepaid Cards

Seattle-based Pemco Technologies has rolled-out a new prepaid card program offering its clients gift cards, reloadable cards, travel cards, and youth cards. The new cards offer more than 30 designs to choose from. “Prepaid Travel Cards” are reloadable up to 23 times. Pemco “Reloadable Cards” can be created in amounts up to $3,000. Pemco’s standard implementation timeframe for this program is 21 days. There is also a live Webinar training for customer staff, cardholder support by phone and Web, and live support 24/7 for lost/stolen cards. Pemco provides credit signature processing, debit signature and PIN-based processing, ATM services, cardholder award programs, portfolio-growth programs, fraud management/detection/prevention, prepaid card services, and personalized photo cards.

Details

Comdata Lands an Information Technology Exec

Payment provider Comdata Corporation has named Todd Joseph, previously vice president of infrastructure services and IT mergers and acquisitions, as senior vice president of information technology. Joseph is responsible for all technology operations at Comdata, including network systems, application development, project management, data management, strategic product development and corporate solutions. As vice president of infrastructure services and IT mergers and acquisitions he was responsible for technology due diligence and post merger integration.

Details

Elavon Processes the New Hard Rock Park

Atlanta-based Elavon, f/k/a NOVA Information Systems, has announced a three-year agreement to provide credit and debit card processing to Hard Rock Park. The new rock n’ roll theme park is located in Myrtle Beach, SC. The agreement provides processing for 80 different service points across the park. HRP Myrtle Beach Operations owns and operates Hard Rock Park, an approximately 140-acre rock nâ™ roll theme park, under a long term license agreement with Hard Rock International. Elavon provides end-to-end payment processing services to more than one million merchants in the U.S., Europe, Canada and Puerto Rico. Elavon represents the former brands of NOVA Information Systems and its affiliates FHMS and euroConex.

Details

FNDS3000 Acquires a Credit/Debit Card Concern

Prepaid card and merchant processing solution provider FNDS3000 Corp has acquired the assets of a U.S. based company that markets credit and debit card programs to merchants and employers throughout the U.S. The company annually processes in excess of $150 million generating approximately $1,000,000.00 in annual revenue. FNDS3000 Corp provides prepaid cards to a market with over 1 billion individuals worldwide who do not have bank accounts, estimated at over $100 billion in annual revenue

Details

NetSpend Expands its Executive Prepaid Wetware

Prepaid debit card provider NetSpend has hired Frank Cotroneo as its new COO and is responsible for NetSpend’s operations, finance and accounting, and business information; Anh Vasquez as EVP responsible for NetSpend’s online channel and Tom Cregan as executive vice president and general manager, responsible for NetSpend’s check cashing, payday loan, and general retail channels. Before joining NetSpend, Cotroneo was founder and principal of Core Business Consulting, LLC, providing strategy, finance and business re-engineering consulting services . Vazquez comes to NetSpend with extensive experience in the online space, working for Intel and Netscape, and as a senior executive, most recently senior vice president, on the core team that built Wal-Mart’s billion dollar online business. Cregan joins NetSpend from PaySpot, Inc., a subsidiary of Euronet Worldwide, where he served as president. Prior to his role with PaySpot, Cregan was chief executive officer of e-pay Australia and New Zealand, a company that Cregan set up and sold to Euronet Worldwide in 2003.

Details

ABS FRAUD SURVEY

According to the “National Personal Fraud Survey,” conducted by the
Australian Bureau of Statistics (ABS), a total of $980 million was lost
by Australians to personal fraud. Conducted in 2007 among Australians
who were aged 15 and over, the survey found an average fraud loss of
$2,160, 806,000 were victims of at least one incident of fraud
throughout the year- of which 77% were victims of credit/bank card
fraud,- 36% were exposed to scams and 329,000 people fell victim to at
least one type of scam by responding to an unsolicited offer. Categories
of these unsolicited scams include lotteries, pyramid schemes and phishing.

Details

JCB to Issue Japan’s First Disney Co-Brand

JCB Card has inked a deal to issue Japan’s first Disney-branded credit card. In an agreement with Walt Disney Japan, JCB will start accepting applications for a co-brand credit card from selected customers in August. Applications from the public will be welcomed beginning November 18th. Walt Disney Japan and JCB will stage exclusive events for JCB cardholders offering chances to experience the world of Disney firsthand, including invitations to live Disney performances and “Meet and Greet” events featuring Disney characters in major cities throughout Japan. JCB will launch via multiple channels, TV commercials and other promotions featuring fun, animated Disney content. Some of the content will be specially designed for the JCB promotions. As of the first quarter, JCB had 59.8 million cardholders and 12.3 million merchants.

Details