Citi Cards has teamed with easyJet Airlines to launch the “easyJet MasterCard”, complete with the “easyJet 1-2-3” rewards program. The rewards program allows users to earn “easyJet Miles” on all purchases made using the card at a rate of 1 mile per GBP 1 spent. Travelers can take free flights earned with the credit card from any easyJet U.K. airport to various destinations throughout Europe and Northern Africa. Additional features include an interest-free period of up to 56 days, a free additional card, no annual fee, “easyJet Card” Alerts and a typical 16.9% APR (variable) on purchases. easyJet flys to 89 destinations on 360 routes throughout Europe and Northern Africa.Details
SCM Microsystems’ eHealth100 health card terminal has been certified
as a multifunction terminal by GEMATIK, which runs the German
electronic health card program. With this certification, the card
be used to read health insurance and health care cards,
ensure that personnel are able to read older memory and processor-based
cards, can be used to read the personnel’s own ID cards and as an SICCT
terminal (Secure Interoperable Chip Card Terminal) to ensure data
communication within Germany’s “telematics” infrastructure. SCM
Microsystems develops, markets and sells smart card reader technology
for various facets and has headquarters in Ismaning, Germany.
Credit card delinquency (60+ days) dropped slightly in November and charge-offs among credit card-backed securities also declined. For November, delinquency in the U.K. dipped to 3.3%, compared to 3.4% in the prior month. Charge-offs declined by 50 basis points from October to 6.3% for November. According to FitchRatings, delinquency reached a historical high in April 2007 of 4.1% in the U.K. The Fitch monthly payment rate index fell to 17.9% in November, a month-on-month decrease of 90 basis points. The Bank of England cut the the Bank base rate by 25 basis points to 5.5% in December and decided to maintain the same rate in January.Details
The Royal Bank of Scotland has signed an agreement with i-design
for the deployment of its “ATM:ad” advertising campaign for 2Q08.
With RBS owning the largest volume of ATMs in the UK, this agreement
represents i-design’s largest “ATM:ad” contract and marks 14,800
ATMs software licenses sold, representing 44% of the UK’s ATMs.
Additional financial institutions running the “ATM:ad” campaign
include Nationwide Building Society, HSBC plc and Alliance &
Holiday sales volume among the largest U.S. retail Web sites rose 29% year-on-year. The “Chase Paymentech Pulse Index” found that the December 11th to 14th period was the busiest sustained activity of the 2007 online holiday season. The “Index” also found that the highest single day was December 18th; the highest single-day average ticket order was $62.57 on November 28th; and the busiest online shopping day of the week was Wednesday, with Sunday as the least-busiest day of the week. The “Chase Paymentech Pulse Index” tracks more than one million payment transactions daily at 10 of the top 30 U.S. retail Websites. For the full holiday season the “Index eRetailers” realized $5.482 billion in net sales.Details
Central Credit Union of Florida has selected Pemco Technologies to process its VISA credit and debit transactions. CCUFL also offers its members a Pemco card-loyalty awards program. CCUFL holds assets of more than $106 million and 14.7 thousand members. Pemco Technologies provides innovative payment solutions to the financial industry including credit signature processing; debit signature processing; PIN-based processing; ATM services; cardholder award programs; fraud management, detection, and prevention; and gift card programs.Details
Metavante will acquire CA-based BenSoft and its product, “RepayMe” to integrate into its existing Healthcare Payment Solutions suite of products. RepayMe software provides a Web-based tool for individuals who participate in various benefit programs to easily obtain reimbursement for eligible expenses that are covered by their benefit plans.Details
Web-based gift card service Plastic Jungle has introduced the “PlasticVault” gift card registry. PlasticVault provides an effective and risk-free way for retailers to reach their gift card holders. According to a January poll conducted online by Plastic Jungle, nearly one-third of consumers said they received one or more gift cards over the holidays that they did not want. The same research also indicated that almost three out of every four consumers would be more likely to use an unwanted gift card if there was some sort of incentive. With detailed data on consumers’ gift card history, including the cards they possess as well as those they’ve bought, sold and traded, PlasticVault will enable increasing gift card redemption. Plastic Jungle is a Web site for gift card exchange and services, whether users want to buy gift cards at substantial savings, sell them for cash, or trade pre-owned gift cards with others.Details
Electronic payment software provider ACI Worldwide has entered into a strategic alliance with Simply Retail Solutions to combine and market their retail payment suites. The “SRS Multi-Channel Product Suite” manages a retailer’s entire portfolio of sales transaction solutions and facilitates exposure of information across channels for everything related to customers and inventory. The “ACI Retail Commerce Server” suite of solutions allows merchant retailers to tailor their payment acceptance strategy to maximize profits, manage transaction fees and optimize the customer purchase experience.Details
U.S. Bancorp reported that its fourth quarter merchant acquiring volume grew more than 11% over 4Q/06 to $62.4 billion, produced from 848,241 merchants. Average credit card loans were up more than 7% year-on-year to $10.6 billion. However, credit card charge-offs rose to 3.29% from 3.09% in the third quarter and 3.27% one-year ago. U.S. Bank’s Payment Services contributed $310 million of the Company’s net income in the quarter, a 31% increase over the same period of 2006 and a 12% increase over 3Q/07. Total net revenue was higher due to a 18% increase in net interest income, driven by strong growth in retail credit card balances and favorable loan yields, as well as a 6% increase in total non-interest income, primarily from credit and debit card fees, including the impact of the contract negotiation. Net income in the fourth quarter was lower on a linked quarter basis due primarily to the impact of the $215 million VISA charge, partially offset by a $115 million charge recognized in the third quarter in connection with VISA’s litigation settlement with American Express. For complete details on U.S. Bancorp’s 4Q/07 performance, visit CardData ([www.carddata.com]).
MERCHANT ACQUIRING VOLUME HISTORICAL
Source: CardData (www.carddata.com)
Washington DC-based mobile payment provider Mobilians International, has signed an agreement with online payment provider PaymentOne Corporation to provide PaymentOne’s “PhoneBill” payment service to Mobilians’ merchants. Through this new partnership, Mobilians International’s merchants can reach over 150 million U.S. consumers, providing them the option to conveniently charge digital goods and services to their existing broadband and landline phone accounts.Details