GSA SmartPay 2 Cards Coming in November

The U.S. GSA has announced that the DOD has chosen the GSA “SmartPay 2” program to serve 1.2 million DOD travel cardholders. The estimated value of DOD’s travel card order from “SmartPay 2” contractor Citibank South Dakota is $40 billion over 10 years, based on projected travel card spending. DOD’s Defense Travel Management Office’s (DTMO) order with “SmartPay 2” contractor Citibank signed January 14th, starts immediately. The goal is to activate the new DOD travel cards by November 30th. DTMO provides program management and oversight for DOD’s travel card users.

Details

PAYZONE & BLACKHAWK

The Payzone payments network and Blackhawk prepaid solutions have
signed collaborative agreements. With these developments, the
organizations plan to tap the European gift card market for the distribution
of Payzone products through the Blackhawk network and Blackhawk
products through Payzone retail outlets. This will support Blackhawk’s
European expansion of its prepaid and payments network to nearly
170,000 Payzone retail locations across the continent. The Blackhawk
Network is composed of 80,000 store fronts, targeting 165 million
consumers weekly while Payzone has operations in 21 countries across
Europe, processes over 630 million per annum with a value of
approximately EUR13 billion and operates a total of 240,000 points of
service.

Details

Attitude POSitive Releases a New AccuPOS

CA-based Attitude POSitive has launched its latest version of AccuPOS retail point of sale software. AccuPOS Retail gives small-to-medium retailers more control over their business with the only solution that separates the front-end POS functions with the back-end accounting functions, providing a much cleaner, secure and more detailed accounting process. Unlike other POS software, AccuPOS is a pure POS solution, protecting critical financial information more effectively. AccuPOS only collects sales data and populates the accounting program ensuring that all inventory, sales and customer data are rightfully located in the accounting program. This eliminates the many common accounting duplication errors. AccuPOS is easy to implement with all popular accounting programs i.e. QuickBooks, Peachtree, MAS. Attitude POSitive is a provider of POS, inventory management and time clock software for the retail and hospitality industries.

Details

FRAUD SCIENCES & PAYPAL

eBay’s PayPal has signed a deal to acquire Fraud Sciences for about $165 million. Fraud Sciences is a specialist in online risk tools. The acquisition is expected to enhance eBay and PayPal’s proprietary fraud management systems and accelerate the development of next generation fraud detection tools. Key personnel from Fraud Sciences, including Yossi Barak, Fraud Sciences’ COO, and founders Shvat Shaked and Saar Wilf, will join the company’s technology and fraud management teams. Gadi Maier, Fraud Sciences’ President and CEO, will provide strategic and operational support to the company during the integration period.

Details

Wachovia Promotes Pope to Head Retail Credit

Wachovia has promoted David Pope to president of its Mortgage and Retail Credit division. Pope will be responsible for leading the daily sales, fulfillment, retention, service and operational aspects of the mortgage and retail credit businesses. He has served in a variety of roles over the course of a 20-year career with Wachovia. Prior to his most recent role, Pope was head of Wachovia’s Business Banking group for three years. He has also held roles as co-head of the Retail Bank, region executive for Metro Washington, D.C., and retail executive for Virginia.

Details

SYSCOM INVESTMENTS

Sagem Orga subsidiary, Syscom Ltd, will be investing significantly in the
Indian smart-card market over the duration of the next 2 years. The
Syscom organization provides SIM card solutions to Indian companies
and merchants with a nearly 45% market share. Across the country, the
number mobile telecommunication subscribers is growing at nearly 70%
annually, are expected to require nearly 250 million smartcards for 2008
and 500 million for 2010. In response to these statistics, Syscom is
investing in the establishment of a new, 8,000 sq meter, smart card
manufacturing facility to generate 200 million SIM cards annually with
capacities of up to 256 KB. Syscom Corporation provides SIM cards
and solutions for most of the regional mobile operators.

Details

Debt Resolve Names a New CEO & President

NY-based collections solution provider Debt Resolve has appointed Kenneth Montgomery, previously with Pentegra, as its new CEO and promoted CFO David Rainey to President. Montgomery has over 25 years in the financial services industry. From March 2003 to March 2006, he held the position of President and Chief Executive Officer of Pentegra Retirement Services, where he managed assets totaling over $4B and successfully transformed the culture to accelerate growth. From April 2001 to January 2003, Mr. Montgomery was Head of Sales and Business Development at CIGNA Retirement Services. Rainey has been Chief Financial Officer at the company since March 2007. He has over 19 years of experience in public company accounting and finance roles, corporate governance, Sarbanes-Oxley issues, and mergers and acquisitions. Before joining Debt Resolve, Mr. Rainey served as the Chief Financial Officer and Treasurer of Hudson Scenic Studio, where he was responsible for finance and accounting. Debt Resolve provides lenders, collection agencies, debt buyers and utilities with a patent-based online bidding system for the resolution and settlement of consumer debt.

Details

CREDITZ DIGI CURRENCY

Creditz will be providing its customers with a Radio Frequency
Identification (RFID) payment card application. The new RFID
application is set for introduction at the Electronic Transaction
Association
(ETA) annual convention in April of this year to provides account holders
with a convenient payment solution at participating CREDITZ retailers.
The new solution is supported with IBM “Series I Technology” and is free
to account holders.

Details

PSCU Names a New Chief Debit Officer

PSCU Financial Services has hired Tom Gandre, previously SVP at First Data, to serve as Chief Debit Officer. Gandre was First Data Corporation’s Senior Vice President of Product Development and Management, responsible for new development product management for the Debit Services division. This division encompasses PIN and signature debit products, prepaid products, fraud and risk solutions, ATM products and the STAR Network. Gandre oversees the organization’s debit services unit, which continues to report strong year-over-year growth in transactions, ATM placements and the participation of new credit unions. PSCU Financial Services’ debit group currently services over 200 credit unions, 700 ATMs, and processes more than 7 million accounts that generate over 500 million transactions annually.

Details

VISA EUROPE

VISA Europe has reported 2007 as a year of significant growth,
having posted an 11% increase over 2006. This expansion was seen in
individual cardholder spending per transaction and the overall number
of retail transactions. This is credited to over half of all the payments
organization’s cards and terminals having implemented chip and PIN
technology, providing security and speed, and its network of more than
4,600 member banks. Moreover, the organization credits this growth to
the recent launch of its new “V PAY” chip and PIN-only debit card,
currently issued by 22 banks in eight countries, and HSBC’s recent
switch to VISA for its 10 million UK debit cards. There are over 348
million VISA debit, credit and commercial cards issued in Europe, used
to conduct over EUR1.3 trillion in transactions during 2007, and provide
products and services in more than 170 countries worldwide.

Details

NCR and uMonitor Team for Online Banking

uMonitor has entered into a sales referral agreement with NCR to offer uMonitor’s online banking applications. These uMonitor applications include “uOpen & uFund”, an online account opening, funding solution and “uSwitch” online switch kit. With the uMonitor uOpen & uFund application, the financial institution can open Health Savings Accounts online, open loan accounts integrated with loan origination systems such as APPRO or Open Solutions’ IA Systems, and automate the account opening for commercial accounts, such as Business Checking or Business Savings. The uOpen & uFund application helps financial institutions adhere to Section 326 of the USA PATRIOT Act, with its Customer Identification Program. Using uOpen & uFund, banks can easily perform online customer ID verification, ID authentication and OFAC checks; generate credit score and credit reports; develop risk matrixes; and implement cross-sell/up-sell processes. uMonitor financial technologies offers a wide range of online solutions specifically designed to help financial institutions provide the most up-to-date services.

Details

BUSCAPE & PAGAMENTO

BuscaPe has acquired the Pagamento Digital payment management
platform with the intention of providing electronic commerce security.
Providing over 500 clients with access to operational payment methods,
Pagamento Digital is projecting revenues of more than R$ 20 million for
2008. The company provides integral payment methods for online sales
promotion needs and cash-flow management. BucsaPe’s website,
“BuscaPe.com”, gets 30 million hits monthly and across 28 countries,
providing product search and price research while Pagamento Digital
develops electronic commerce solutions and online payment platforms.

Details