BANQUE ACCORD & PAYPASS

Mastercard Europe has launched a 6-month PayPass trial with Banque
Accord throughout Englos, France. This solution will allow consumers
to conduct contactless transactions that eliminate wait time and the need
for the customer signature when transactions are less than EUR25.
MasterCard PayPass cards have 19 million units currently in worldwide
circulation and are accepted at 73, 000 points of sale. Furthermore,
there are similar trials currently underway in 20 different countries. The
card issuer is planning for further deployment in 2Q08 across France and
full implementation by 2009.

Details

ExaDigm Lands Two Lipman Executives

CA-based ExaDigm has appointed Carmen Paraschiv, former head of Lipman’s Project Management Offices, as VP of Project Management and Andrey Tikhonov, former Lipman Director of Research and Development, as its CTO. Paraschiv will head up the entire project management organization, with direct responsibility for the company’s aggressive drive toward Class A certifications with the nation’s leading payment processors. She brings extensive project management experience in the payments industry having created and managed Lipman USA’s highly successful Project Management Department. Serving as part of the Lipman/Verifone transition team in the US, Paraschiv went on become head of Verifone’s Project Management Office.

Details

Jack Henry Rolls-Out goDough M-Banking

MO-based Jack Henry & Associates has introduced a mobile banking solution. The new “goDough” solution is compatible with any Web-enabled mobile phone and was developed internally by the Company. The new solution enables users to conduct traditional in-branch and online transactions such as balance inquiries, funds transfers between accounts, and transaction viewing; and supports all account types, including checking, certificates-of-deposit, money markets, loans, and lines-of-credit. Jack Henry’& proprietary solution will also enable users to initiate bank-to-bank funds transfers, receive designated alerts, and make mobile payments to entities other than the offering financial institution. “goDough” is fully integrated with the Company’s three functionally distinct core processing systems for banks” “SilverLake,” “CIF 20/20,” and “Core Director” and will be fully integrated with its core processing system for credit unions “Episys.”

Details

VISA and Card Lab Team for Gift Cards

Card Lab and VISA have launched a new, fully customized “VISA Gift card”, issued by Marshall Bank and available online at GiftCardLab.com. The cards are available in various denominations, ranging from $10 to $250. GiftCardLab.com was created by Card Lab Inc. to meet the growing demands for customized gift cards. They have teamed up with UK-based Serverside Group and TX-based PAYjr Inc. Card Lab also works closely with banks, credit unions and major youth brands to help create market differentiation with branded and co-branded GiftCardLab programs.

Details

Prepaid Benefits Cards to Explode in 08

While single-merchant prepaid cards are currently experiencing a heyday, the real growth will come from payroll and benefits applications. In fact, a new study shows that benefit cards have now outstripped single-merchant gift cards in total spending volume, leading the field with $60 billion in total 2006 spending and expected to reach nearly $372 billion in 2011. The report from MA-based Financial Insights predicts there will be more than 1.5 billion prepaid cards in circulation by 2011, compared to 1.1 billion cards at the end of last year. Benefit cards, which includes Social Security payments, food stamps, and other government benefit programs, and health insurance cards such as “Health Savings Account” cards, will produce a CAGR of 44% between 2006 and 2011 in spending. Payroll cards will grow by a spending CAGR of about 19% during the same period. By contrast, single-merchant cards will expand with a CAGR of just 2.7% over the next five years. The Financial Insights study also predicts that financial institutions will play an increasing role in the market from 2007 to 2011.

PREPAID SPENDING PROJECTIONS
PAYROLL BENEFITS
2007: $ 72b $ 70b
2008: $ 95b $205b
2009: $105b $335b
2010: $116b $353b
2011: $128b $372b
Source: Financial Insights

Details

i2c Upgrades C-Envoy Marketing Solution

Transaction processor i2c has released version 2.0 of “C-Envoy” multi channel marketing suite. “C-Envoy” is a multi-channel marketing suite that enables the planning and execution of multiple channel marketing campaigns, using any combination of voice, email, fax, SMS and web. C-Envoy offers the ability to reach cardholders with a personalized interactive message or to simply notify an existing card holder base, of new products or services offered. “C-Envoy” has added increased functionality designed to help Card Program Managers manage their business KPIs such as Average Revenue Per Card, Churn and Card Base. Additional features include integration with text message based registration.

Details

FIS Names a Transaction Process Exec

FL- based core processor Fidelity National Information Services has appointed Gary Norcross as President/COO for Transaction Processing Services and Frank Sanchez as President of TPS’ Strategic Development. Norcross assumes responsibility for global banking operations, including Integrated Financial Solutions, Enterprise Banking Solutions and International. Norcross joined the company in 1988 and has served as President of the Integrated Financial Solutions division since 1996. Sanchez will be responsible for the development of strategic software, processing and integrated financial services. Sanchez joined FIS in 2003 through the company’s acquisition of Sanchez Computer Associates.

Details

CPAs Turn Pessimistic Over U.S. Economy

A new poll shows that the majority of senior-level CPA executives have turned pessimistic about the U.S. economy. According to the latest “Business and Industry Economic Outlook Survey” of the American Institute of Certified Public Accountants, optimism about the economy among executive CPAs plunged in the fourth quarter to its lowest level in three years. About 30% of respondents said in October that they were optimistic about the U.S. economic outlook over the next 12 months compared to 47% in July. More than half of CPAs surveyed cited sub-prime mortgage losses, a slowdown in U.S. housing and tightening credit conditions for their shift in sentiment. Other concerns were rising prices of oil and gas as well as the declining value of the U.S. dollar. Approximately 69% of the respondents in October said the Federal Reserve’s recent cut of 50 basis points in its federal funds target rate was necessary to prevent market turmoil from stalling the economy. One-quarter felt it was unnecessary and may reinforce poor risk decisions.

Details

Barclaycard US Launches REC REWARDS VISA

Barclaycard US has teamed with CA-based Affinity Group to launch three credit card products that will enable cardholders to earn reward points on every purchase through a unified recreation rewards loyalty program. The new cards include the “Good Sam VISA Signature,” the “Coast to Coast VISA Signature,” and the “REC REWARDS VISA Signature.” The “Good Sam” card will be offered to the one million members of the Good Sam Club, the largest RV owner’s association. The “Coast to Coast” will be offered to its members, while the “REC REWARDS” card will be marketed to Woodall’s and Trailer Life Directory buyers, readers and subscribers of magazines published by Affinity. Cardholders receive 2,500 bonus points after their first purchase or balance transfer, then five points per dollar spent when the card is used at participating merchants, RV dealerships, campgrounds, resorts and to purchase club memberships, magazine subscriptions, RV books and directories, as well as financial products and services. Cardholders also earn one point on other everyday purchases made with the card. Barclaycard US has more than 50 affinity/cobranded credit card partnerships.

Details

DIGI & CITI

DiGi Telecommunications and Citi Berhad have combined resources
for the introduction of the “DiGiREMIT” mobile-phone-remittance service
to link Malaysia, Bangladesh, Indonesia and the Philippines. The service
will be made available to those who complete a one-time registration
at any of the 47 “DiGi Centers” or service counters around the country.
Additionally, the service is being provided free of charge for a limited
time
for customer allocation and is offering free personal accident coverage
of up
to RM10,000. After the free trial has ended, “DiGiREMIT” will charge RM8
per remittance. Customers can pre-pay their mobile remittance accounts
to a maximum of RM5,000 and are allowed to conduct any one remittance
up to the same amount. Citi provides nearly 200 million customers with
financial products and services in over 100 countries.

Details

Payment Data Systems Q3 Volume Up; Inks 33

San Antonio, TX-based Payment Data Systems reported that revenues for the third quarter declined about 5%, while its net loss jumped more than 51%. The payment solutions provider posted revenues of $841,171 for the quarter and a net loss of $397,204 for 3Q/07. However, the Company’s credit card transaction dollar volume for the third quarter was up 29% from the second quarter. During the third quarter, PDS closed sales for 33 new payment processing clients and started processing for the “Natalie Gulbis Gift MasterCard” program. The Company holds the exclusive license to market the “Natalie Gulbis Gift MasterCard”, the “Carmen Electra Gift MasterCard” and the “Carmen Electra Prepaid MasterCard.” PDS is a registered ISO/MSP of MetaBank and a registered ISO/MSP and TPS/TPP of Merrick Bank. For more information on Payment Data Systems third quarter performance visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

Details

YEEPAY

YeePay e-payment has launched a merchant competition with the intention
of promoting ecommerce and online payments. The competition will allow
merchants that use the YeePay service to compete for the several
categories including user interface, overall online shopping experience,
selection of merchandise, best prices, payment options, security, delivery
speed and customer service quality. The winning merchant for each category
will be determined by Internet users in conjunction with a Board of Experts
which has been assembled by YeePay. The Board will critique merchants,
guide users, oversee voting and announce the winning merchant in January
2008. Yeepay will award recognition and funding for the
promotion of online payment.

Details