NY-based Bankrate has released the results of its national poll revealing 80% of 1,006 American adults are concerned about identity theft. Other findings show 34% of Americans are acquainted with someone who has been a victim of identity theft, the total dollar amount in reported fraud loss in 2007 was over $1.2 billion, of the 77% of respondents that have Internet service, 36% avoid Internet shopping, 44% of consumers in the Western United States know an ID theft victim and 19% have used credit freeze services to protect credit. Bankrate.com reviews more than 4,800 financial institutions in 575 markets, had nearly 60 million visitors in 2007 and has a network of more than 75 partners.Details
Oberthur Technologies reported that revenues for its Card Systems unit grew 13% year-on-year to $294.7 million. Card Systems delivered over 115 million microprocessor cards in the first quarter, a 45% increase over 1Q/07. About 35 million payment smart cards were delivered in the first quarter, up 28% from 1Q/07. During the first quarter, the card activity posted a +11.6% strong growth in sales, reaching $238.9 million. At historical currency exchange rates, the growth would have reached 16.9%. For complete details on Oberthur’s latest results visit CardData ([www.carddata.com]).
Western Union reported that revenue for the first quarter was up 12% to $1.3 billion. Consumer-to-consumer revenue and transactions increased 14% while international C2C, which was 67% of total revenue, grew revenue and transactions 19%. The consumer-to-business revenue grew 4%, with transactions up 3%. The Mexico business continued to improve, and the company’s Mexico transaction growth rate continued to outpace the market, based on data released by Banco de Mexico. On the innovation front, Western Union together with two partners Smart Communications and Globe Telecom will enter the market this quarter with its mobile money transfer service to the Philippines. Additionally, Western Union began its micro lending pilot in Hong Kong in the first quarter. For complete details on Western Union’s first quarter performance visit CardData ([www.carddata.com]).
NACHA- The Electronic Payments Association will present “The Payments Institute 2008 to offer attendees a better understanding of payments systems. The Payments Institute’s curriculum is designed to accommodate both the novice and the experienced payments professional. The Institute will cover Automated Clearing House (ACH), card systems, check electronification, international payments, risk management and fraud and emerging issues in the payments arena.Details
ATM provider TRM will have its stocks delisted from the NASDAQ Global Market and will focus on its recent acquisition of Access to Money and resolve its financial issues. TRM expects that the delisting of its shares will become effective on April 23, 2008. TRM’s common stock will then be eligible for quotation on the Pink Sheets. At least one registered broker-deal has indicated an intention to sponsor the Company’s shares on the Pink Sheets and to act as a market maker following delisting.Details
TSYS has signed processing agreements with Target stipulating the continued service to the department store’s VISA “REDcard” portfolio. Target has more than 21.4 million accounts on file and will continue its relationship with TSYS with the processing of its “Target VISA Credit Card”, “Target Credit Card”, “Target Check Card” and the “Target Business Card”. The two organizations first signed processing agreements in 2000 for the Target VISA and in 2005 for the Target Credit Card portfolio. Target has 1,613 stores in 47 states nationwide and gives more than $3 million a week to its local communities through grants and special programs while TSYS provides outsourced payment services for companies around the world.Details
For EUR2 million, including shares and restructuring costs, Keynote
Systems has acquired the Zandan software company, bringing with it
big-name customers such as Telefonica and Bouygues Telecom.
Zandan supplies customer simulation solutions across the mobile service
life cycle, including monitoring, alerting, troubleshooting and SLA
management, while Keynote MAP allows wireless operators to measure
mobile content from 22 geographic locations worldwide through more than
1,000 wireless device profiles. Keynote implements 2,400 measurement
computers and devices in over 240 locations serving 160,000 consumers
through its 2,700 corporate clients.
VA-based AirPlus International has partnered with Wright Express Financial Services to launch its “AirPlus” corporate MasterCard. The new card provides cardholders with insurance, customer service, an online portal, flexible billing and global acceptance at over 22 million outlets and 1 million ATMs. Wright Express provides payment processing and information management services to commercial and government organizations while AirPlus International employs over 770 associates, has more than 32,000 corporate customers worldwide and settles flight tickets from more than 260 airlines around the globe.Details
MasterCard and Altair Financial Services have launched the pay-as-you-go
“BaBee Prepaid Card” targeting British mothers with access to a discount
club and cash-back rewards. Originally introduced by Blueberry Card
Services, the “BaBee Card” has an annual fee of GBP14.95, provides
hundreds of discounts and can be managed through SMS mobile phone
technology 24 hours a day. Also, obtaining the card requires no credit
checks, is accepted everywhere MasterCard is accepted at 25.9 million
locations worldwide and, with every BaBeeCard sold, Blueberry Card
Services will donate GBP1 to BLISS charity for special care babies.
Altair Financial Services International is headquartered in London and
provides card processing to organizations around the world on behalf of
MasterCard, which provides card processing for over 18 billion
transactions annually in 210 countries through MasterCard Worldwide.
CA-based Experian Fraud Prevention has been contributing its products and services to support development for the compliance of Red Flag rules. These rules were effective as of January 2008 and require institutions to implement procedures to detect, prevent and mitigate identity theft as part of the recent provisions to the 2003 Fair and Accurate Transactions Act (FACTA), for which full compliance is required by November 2008. Moreover, these rules are requisite of identity theft prevention procedures in a manner best suited to business operations and affect a wide range of financial institutions providing credit or allowing payments/transactions by consumers.Details
Bank processor DCI has elected DCI client Ron Santarosa, executive vice current EVP and CFO at First California Bank to the company’s board of directors. Santarosa brings 17 years of banking experience to the board, joining fellow DCI customers and noted bankers Kim Capeloto (Bank of Clark County, Vancouver, Wash.), Lloyd Davidson (First Bank Kansas, Salina, Kan.), John Davis (Colorado Capital Bank, Castle Rock, Colo.), R.A. Edwards, (First National Bank, Hutchinson, Kan.), Kenneth Goering (Citizens State Bank, Moundridge, Kan.), Tim Kohart (Valley State Bank, Syracuse, Kan.), Reed Peters (First State Bank and Trust, Larned, Kan.) and Kathleen Steward (Chisolm Trail State Bank, Wichita, Kan.). iCore, DCI’s flagship product, is an integrated, relational core processing and bank management solution used by in-house and outsourced institutions nationwide.Details
WA-based WaMu has launched its “Instant Online Paperless Account” targeting small businesses as part of the organization’s mission to be a small business banking leader. The “Instant Online Paperless Account” allows businesses to open accounts online in less than 10 minutes in response to Barlow Research showing 40% of companies using Internet Banking indicated the ability to open a business checking/savings account(s) online is a top priority and very important. WaMu has assets of nearly $319.67 billion and operates approximately 2,500 consumer and small business banking stores through its subsidiaries across the country.Details