The VersaPay Corporation has acquired control of Positive POS
wireless terminals while Positive Inc. will maintain separate
operations. Positive Inc. is a credit and debit card processor currently
with 1,500 wireless POS terminals deployed to taxi companies across
Canada. VersaPay provides hardware, technology and support
services for credit and debit card acceptance, operating out of
offices in Vancouver, Montreal and Calgary.


MC Launches a Priceless Search Campaign

MasterCard announced a new “Priceless” advertising campaign that will instantly award consumers who find winning envelopes in select Condé Nast publications and Sotheby’s Preview magazine with one of three exceptional and one-of-a-kind experiences. The new “Priceless Search” campaign will award experiences in the categories of art, dining and travel. To encourage consumers to visit to learn about the experiences, MasterCard will debut a new 60-second spot during the “80th Annual Academy Awards” broadcast on February 24th on ABC. Priceless Search is designed to engage consumers at and build the brand’s connection with affluent consumers.


CARDS 2007

Credit card outstandings increased 0.5% last year to GBP56.1 billion for the U.K.’s 31.5 million cardholders. However, during 2007 check and credit clearing volumes declined by 9.3%, coupled with a 1.3% decline in total values. Over the same period, Bacs volumes and values grew by 3.4% and 7.8% respectively and the volume of CHAPS payments increased by 7.0% with a 15.5% rise in values. In the fourth quarter there were 1.9 billion plastic card purchases made in the UK totaling GBP 91.5 billion. The number of purchases was 6.4% higher than in the fourth quarter, and spending was 7.7% higher. Debit cards accounted for 72.1% of all plastic card purchases compared with 70.5% in the fourth quarter of 2006.



According to PayPoint, the company’s terminal sites have increased by 756
since 1/2 2007 from to 23,380, 3,899 of which were deployed in Romania.
Reflective of contemporary market conditions, transactions processed by
PayPoint in 4Q07 were 171 million, up from 152 million in 4Q06, and the
company reported a 27% jump in revenue to GBP72 million. Furthermore,
at the close of 4Q07, the organization reflected a net cash income of GBP20
million, up GBP4 million since the close of 3Q07. The PayPoint payments
company processed over GBP6 billion and more than 470 million transactions
annually for its 5,000 client customers with nearly 19,400 terminals
across the
the UK.


Card Charge-Offs Rise 50BPS in January

Bank credit card charge-offs soared in January by 50 basis points hitting its highest level since January 2006. Charge-offs are now up 122 basis points, compared to one-year ago. According to CardData ([][1]) charge-offs hit 5.55% in January, compared to 5.05% in the prior month and 4.33% one-year ago. Earlier this week Capital One reported that charge-offs for its U.S. Cards business hit 6.65% in January, compared to 5.74% in the prior month and 4.01% one-year ago. About 29% of Capital One’s portfolio is considered sub-prime, likely elevating its charge-off ratio. (CF Library 2/13/08)

Jan 07: 4.33%
Feb 07: 4.39%
Mar 07: 4.44%
Apr 07: 4.60%
May 07: 4.65%
Jun 07: 4.60%
Jul 07: 4.62%
Aug 07: 4.77%
Sep 07: 4.81%
Oct 07: 4.89%
Nov 07: 4.96%
Dec 07: 5.05%
Jan 08: 5.55%
Source: CardData (



Loyalty Credit Card Offers Rise 16%

The number of credit card direct mailings sent to non-customers dropped 11% while credit card offers sent only to current customers increased 16% last year. Mintel Comperemedia says that in 2005, 56% of credit card offers sent to current cardholders advertised balance transfers or convenience checks. But by 2007, these types of offers lost out to direct mail pieces promoting non-card products, such as bonus points or rewards. In 2007, 57% of direct mail sent to current customers advertised such non-card products.


VISA & UAL Launch a Lucky 8 Promotion

In honor of the lucky number “8” and the “Beijing 2008 Olympic Games,” United Airlines and VISA have launched a promotion to award 8,888 fans an $88 “VISA Olympic Games”-themed gift card and eight fans a trip to the “Olympic Games.” The “Grand Prize” is four trips for two. For a chance on the “Grand Prize” consumers have to book a flight at using their VISA card, submit their “Mileage Plus” number and complete their travel by March 31st. “Mileage Plus VISA” cardholders can also enter for a chance to win an $88 VISA gift card, when they book a flight online at United’s Website and complete their travel by March 31st. Both contests are part the “strength in numbers” promotion. The two promotions run through March 31st. United Airlines is the “Official Airline Sponsor” of the “2008 U.S. Olympic Team,” and VISA is the “Worldwide Partner Beijing 2008 Olympic Games.”



The Hong Kong Monetary Authority has released the findings of
its 4Q07 credit card survey showing card receivable increases of
8.8% and total card accounts up by 1.6% for the quarter.
Moreover, the total customers charged on credit cards amounted
to HK$24.6, up .2 billion from 3Q07, while charge-offs decreased
by HK$38million since the previous quarter. Other findings show the
delinquency ratio dropped to 0.35% while rescheduled receivables
remained at HK$52 million for a combined ratio decline of 0.42%.

Details Sponsors 2008 NASCAR

SKI Motorsports has signed TX-based to become an associate sponsor for their 2008 NASCAR campaign. SKI & Company is a boutique marketing communications company servicing the sports and entertainment communities with a large motorsports and high performance automotive industry practice. is a money service provider for payment gateway services for merchants and consumers requiring processing of funds, credit cards and pin debit.


Debt Reduction Firms Settle with FTC

Two debt reduction companies have settled with the FTC over charges alleging that they violated federal law by falsely claiming that they could reduce consumers’ credit card interest rates or the amount of their credit card debt. The settling defendants are Debt-Set and Resolve Credit Counseling. The settlement orders contain suspended monetary relief of $1 million. The defendants have paid $390,000 to-date. The FTC alleged that the defendants falsely promised to obtain lump-sum settlements, such as “fifty cents on the dollar” or “50 to 60 percent” of consumers’ total unsecured debt, or to negotiate with creditors for lower interest rates.


Mobilians and NHN USA Team for M-Payments

Mobile payment provider Mobilians and NHN USA will launch a new payment service that will provide NHN USA’s online gaming customers the ability to make secure online purchases. NHN USA Customers will soon be able to charge online gaming items and subscriptions to their monthly phone bill. The service is targeted at consumers who do not have credit cards and to parents who want peace of mind, allowing secure purchase transactions without the use of a credit card. Mobilians is a mobile payments and e-commerce company while NHN USA is a subsidiary of NHN, a provder of search engine-based portal and multiple game sites.