TeleCheck Services Inks Meijer Supercenters

First Data’s TeleCheck Services has entered into an agreement with Meijer Supercenters to offer “TeleCheck Electronic Check Acceptance Warranty” service. This will enable Meijer to cost-effectively authorize and process check transactions electronically at the point of sale. Meijer customers will benefit from increased security and convenience as they present checks for payment. TeleCheck provides a broad suite of electronic and paper check processing services with a guarantee volume of $25 billion and total electronic check volume of $37 billion.Over 40% of the more than 500 million transactions processed by TeleCheck are ECA transactions processed at the point of purchase.

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FUNDSTECH & YES!MONEY

FundsTech Corp and Yes!Money have signed agreements for the
European distribution of prepaid card programs. Terms of the agreement
require investment by both parties and establish specifics conditions of the
partnership. With this development, FundsTech will be allowed to speed
penetration in the Prepaid European Card market through Trans Ferry
Group’s (Yes!Money’s parent company) existing relations and customer
base. Yes!Money has developed a pan-European network in the European
road haulage industry with a presence in 14 countries, 10 operating
centers,
more than 30 commercial managers and active relationships with 5,000
customers while FundsTech Corp provides prepaid debit cards to the over
1 Billion, allowing the employer to replace payroll checks for their
un-banked
workers.

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Datacard Group Unveils the SP55k Kiosk Printer

Datacard Group has introduced the Datacard SP55k kiosk card printer. The SP55k kiosk card printer issues full-color, personalized cards with magnetic stripes and bar codes as well as contact and contactless smart cards. It utilizes Datacard Certified Supplies featuring Intelligent Supplies Technology. The card printer recognizes these supplies when they are loaded and automatically adjusts settings to optimize print quality. This minimizes operator intervention reducing overall cost per card. Datacard Group is a provider of secure ID and card personalization solutions.

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CHIP MIGRATION

Member issuers of the payment industry have begun a chip card migration
trial
throughout Canada. With the trial, being implemented by over 20
organizations,
the chip-based cards allow participants to monitor awareness, adoption and
ensure interoperability of the respective cards and devices without
total commitment
to the chip solution. The chip solution trial allows acceptance of cards
anywhere
credit and debit cards are accepted because terminals and ABMs will
continue
to recognize both chip and magnetic stripe cards. Chip cards at the
terminal will
authorize the transaction through PIN use rather than a signature. This
migration is
designed to enhance security for use in more than 100 countries around
the world
via the embedded computer chip to prevent counterfeit and fraud.

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Constantine Cannot Securitize Debit Settlement

NYC-based Constantine Cannon says it has been working to effect a securitization of the debit card settlement fund with VISA and MasterCard, but current market conditions have made securitization unsuccessful at this time. Since December 2005, over $950 million has been paid to class members for VISA and MasterCard signature debit and credit card transactions during the period October 1992 to July 2003. Merchants who installed PIN pads and accepted PIN debit transactions during the period October 1992 to July 2003 are also eligible for damages based on their acceptance of PIN debit. However, Constantine Cannon says there are insufficient funds for a PIN debit distribution at this time. Also, payments for online PIN debit overcharges will be made to all or most qualifying class members in 2008 when the “Settlement Fund” is replenished.

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GE Money Expands its National Tour Assc Deal

GE Money and the National Tour Association have established a five-year extension of the GE Money Travel Finance Program available through NTA’s more than 600 tour operators globally. The NTA credit card program launched as a pilot in July 2006 for the purchase of packaged tours, vacations and other travel-related expenses. The first association-based program for the travel industry, the NTA program provides a menu of offers and promotions to fit various tour operator markets. In addition to offering travelers deferred interest and extended payment financing on one-time trips or ongoing travel, NTA tour operators receive point-of-sale and other marketing materials and equipment, as well as training on how to effectively use the finance program. The National Tour Association has a global membership of tourism professionals involved in the growth and development of the packaged travel industry.

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INGENICO 2Q/07

The International Card Manufacturers Association (ICMA) has announced the
winners of the annual “Elan Awards for Card Manufacturing Excellence”,
recognizing
design innovation and technical achievement. Categories included, but
were not
limited to, “The Best Non-Secure Card” awarded to JCPenney, “Best Technical
Achievement” awarded to Credit Card Embedded Authentication Device, “The
Best
Gift Card” awarded to Stained Glass Flower and the “Best ID Card”
awarded to
Laser Pass Access. “The Elan Awards” recognize design innovation and
technical
achievement around the world. ICMA is a non-profit association of
plastic card
manufacturers with over 200 members globally.

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U.S. Consumers Switch Banks Over NSF Fees

A new survey has found that one out of five U.S. consumers switch banks because of fees they consider excessive. Nearly one out of four surveyed consumers were charged an overdraft fee by their bank in the past year, and 63% believe the fee was unfair, mainly because it was too large. The research by Gartner of 5,000 online U.S. adults in August also shows that one out of 25 consumers switch banks because of security concerns. Additionally, consumers complain that banks take too long to process deposits, or fail to alert customers that accounts are in overdraft. Banks charge overdraft fees on debit card purchases they authorize, even if the account balances can’t cover it and even when funds arrive in the account before settlement.

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Simply Brilliant Rewards Card is Unveiled

NV-based Legacy Card Company has signed a deal with Commerce Bank to be the credit card issuer for the “Simply Brilliant Rewards Credit Card.” The new card provides Missouri residents a financial vehicle program that assists parents in saving for their children’s future educational opportunities. The “Simply Brilliant Rewards Credit Card” provides a tax-free educational savings fund that benefits with daily card usage from Legacy’s network of distinguished Missouri businesses and nationally recognized merchants who contribute up to 10% of the purchase to the designated child’s 529 educational account of the cardholder. Additionally, Commerce Bank will contribute 1% of the net purchase sale into the Cardmember’s tax-free 529 education account. As part of the agreement, Legacy Card Company will utilize Denver-based Rainbow Rewards USA to track all “Simply Brilliant Rewards.”

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Mobile Candy Dish & CardMarte Launch a PP MC

CA-based Mobile Candy Dish has formed a joint venture with prepaid card processor CardMarte to expand mobile commerce globally. This will enable consumers around the world to have access to a private-label contactless debit MasterCard which also serves as a FDIC insured account. Consumers will be able to direct deposit their paycheck into their mobile wallet, pay bills, move money between banks in the U.S., share money from card to card in other countries, withdraw cash from ATM machines worldwide, or pick up cash at redemption locations in over 100 countries. Customers can also use the mobile wallet to buy products at participating contactless merchants and receive their transaction history in real time. A private-labeled patent pending NFC payment sticker is also available for consumers who want to utilize their existing cell phone instead of buying a new NFC cell phone.

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