Prepaid card provider EDebitPay has partnered with ConveniaLoad to bring more card loading options to underbanked customers with prepaid debit cards. EDebitPay cardholders will be provided with access to register for this new feature and order a deposit booklet to their favorite bank. They will be able to use this booklet to go into the bank of their choice and load their prepaid debit card with cash allowing them to use their card at millions of locations around the world. This new feature will allow its customers to add value to their prepaid debit cards at over 10,000 bank locations including Wells Fargo, Bank One, U.S. Bank and Wachovia. ConveniaLoad is managed by Western Financial.Details
Points International and Amtrak Guest Rewards have partnered to offer
loyalty program members the benefits of the “Buy and Gift Points
Program,” which allows users to purchase additional miles/points online.
This development is part the Points International recent growth with
worldwide partners, whom recognize the value-adding features of the
Organization’s website. This website is fully hosted and maintained by
Points.com, linked to the Amtrakguestrewards.com domain and provides
users with convenient access to “Buy and Gift Points”. Amtrak serves over
70,000 passengers, on up to 300 trains, on a daily basis across the U.S.
while Points International Ltd allows consumers to manage their miles and
points through more than 25 reward programs.
Diners Club International has decided to deploy the BPC Banking
Technologies’ “SmartVista” card issuing/acquiring suite based on its
capability of supporting credit products and transaction accounting.
BPC’s “SmartVista” solution provides open modern architecture and
comprehensive functionality to support the Diners Club card business in
New Zealand, subsequently affording an increase in speed to market of
multi-channel delivery. Namely, BPC will be providing the SmartVista
“Front-End” for online processing of financial transactions and local
providers of ATM and POS networks, the SmartVista “Back-Office” for
clearing and settlement, and the SmartVista “CardGen” subsystem for the
preparation of data and personalization of cards.
Through recent agreements with ICICI Bank, Development Credit Bank
has embarked on the credit card industry with its new “DCB Advantage
Credit Card”. Moreover, ICICI Bank will oversee the management of the
newly established card offering, which is targeting India’s rapidly
developing, under-penetrated market. DCB is projecting, of its 4.5 lakh
customers, 50,000 customers will eventually sign up for the “Advantage
Bankrupt retailer Sharper Image will allow redemption of its gift cards for their full value. Per the Bankruptcy Court’s approved new policy, all Gift Cards will be honored for their full value with two conditions: they must be redeemed in full in one transaction (no partial redemptions permitted) and customers must purchase an item that costs double the value of the gift card or merchandise certificate.Details
According to MonetExpert.com, The Nationwide Building Society
“Consumer Confidence Index” has reflected significant loss for
February of 2008, having fallen 3 points. Currently at 78, the index is
reflective of consumers’ spending, their confidence in the economy, and
has been nosediving, consistently, since November of 2007. Additional
findings conclude that consumers’ willingness to spend fell 4 points to 64
on the index and a mere 11% of consumers feel the time is now to make
purchases. The only index not to show loss is that which reflects
consumers’ confidence in the job market.
Security solution provider Symark International has joined the PCI Security Vendor Alliance at the “Platinum” level. Symark is the developer of the “PowerSeries” information security solutions for managing privileged account access. Symark’s solutions help organizations meet the specific requirements laid out in several sections of the PCI standard, including: Section 2 (vendor-supplied system passwords and other security parameters cannot be used as defaults), Section 7 (access to data must be restricted based on role within the business) and Section 8 (a unique ID must be assigned to each employee with access to the network).Details
The Alliance Data’s credit card subsidiary, “World Financial Network
National Bank,” has established financing for $600 million in credit-card-
asset-backed-bonds with the help of Barclays Financing. These afore-
mentioned bonds are set to mature in the spring of 2008, which will be
88% funded by the new facility and 12% by the combination of cash, CDs
and investors, and will be accommodated for by the company’s liquidity.
Alliance Data manages over 120 million consumer relationships
across North America and employs over 9,000 individuals at 60 locations
China Minsheng Bank has bought 5.4 million shares of stock in UCBH
Holdings, at $17.79 per share, for a total transaction worth $95.7 million
and the first phase of 9.9%-20% acquisition. The second phase of the
development will result in a 9.9% acquisition of UCBH at a share
premium of up to 5.0% above the average. Decisions regarding the
possibility of further acquisition will be made thereafter by Minsheng Bank,
which has a market capitalization of $27.6 billion and total assets of
$125.9 billion while UCBH had $11.80 billion in assets with the closing
To support its co-branded “enJoy Card”, Hang Seng Bank has deployed
Verifone Contactless Solutions. Co-branded with Jardine Matheson
retailers, the “enJoy Card” will be utilizing VISA’s “payWave” contactless
payment technology over VeriFone’s EMV-certified “QX110” contactless
reader for contactless payment solutions across a range of retail sectors.
VeriFone Holdings provides secure electronic payment solutions for retail
merchants around the world.
Austin-based Capitol Credit Union has moved its card processing to TNB Card Services to build the portfolio through TNB’s superior products, marketing, and rewards. Capitol CU wants to strengthen its rewards program through TNB’s “Rewards2U” loyalty program, along with stronger promotions than its former processor could provide and variable rate pricing. TNB’s portfolio consulting team is also working with Capitol CU to provide expert guidance on setting up the new program to achieve maximum value to the credit union and its members. Capitol CU has 15,000 members and assets of $90 million.Details
Access to the City of Manchester stadium is expected to take on a
different meaning with the introduction of the reloadable MasterCard
“Tap&Go” PayPass pilot. The recently launched pilot will be available
to 3,500 season ticket holders in the North Stand Level 2 and, in
addition to stadium access, the “Tap&Go” solutions will be accepted
for transaction purchases of under GBP10 at various in-stadium
merchants. When customers’ card devices register with merchants’
“PayPass” reader, transactions are completed requiring reduced
queuing times. The UK reflects a strong market for the “PayPass”
solution with GBP200 billion per annum of transactions less than
GBP10. Moreover, “PayPass” had 23 million devices circulating for
use at over 95,000 merchant locations with the conclusion of 4Q07.