Fair Isaac to Fight DoD Purchase Card Fraud

Fair Isaac reports that the U.S. Department of Defense will utilize the company’s industry-leading fraud detection technology to deter misuse in its “Purchase Card Program.” The “DoD Purchase Card Program” enables authorized DoD personnel to purchase certain goods and services, such as office supplies and equipment, directly from private sector vendors. It is one of several charge card programs that the DoD operates to streamline business processes and reduce administrative costs. Under terms of the agreement, Fair Isaac will deliver a custom modified “Falcon Fraud Manager” solution in an ASP environment to help the DoD combat misuse of purchase cards. The custom fraud solution will analyze each authorization transaction using DoD-specific risk indicators.

Details

Berman Marketing Enters Prepaid Cards

The Berman Marketing Group has announced its plan to enter the Pre-Paid Debit Card industry and target the unbanked and underserved market . The company’s plan to enter the Pre-Paid Debit Card Market is in the development stage. There are several major obstacles that will have to be overcome for the company to execute their plan. First, an agreement with a card issuer must be reached and secondly, the company will need additional capital to fund the marketing costs associated with this venture. The company plans to obtain the ability to market Pre-Paid Debit cards by leveraging the infrastructure of Merchant Processing International (MPI) on a revenue sharing basis. The Berman Marketing Group is a multi-channel direct market firm specializing in direct response marketing through television, radio, Internet and print media.

Details

Paymetric Unveils a Card SAP Solution

Houston-based Paymetric announced the release of a payment card management and analytics solution for optimizing payment card processing functionality in native SAP. The new “PCMA” provides tools to optimize credit card acceptance and improve transaction visibility through enhanced payment card utilities, expanded reporting and analytics capabilities, and advanced receivables management functionality. “PCMA’s” receivables management tools allow companies to accept credit card payments against an open invoice, a process that in native SAP would require the invoice be canceled and re-issued through the sales system. “PCMA” also allows companies to accommodate deposit and down payment processing in SAP by posting debits and credits directly to customer accounts from a payment card. Benefits of these improvements include reduced risk, improved customer satisfaction, and reduced days sales outstanding.

Details

BofA Q3 Credit Card Profits Slide 25%

Bank of America reported that its Card Services division had Q3 revenue of $6.5 billion, an increase of 6% compared to the third quarter of last year and net income decreased 25% to $1.08 billion. Managed U.S. consumer and business credit card loans at the end of the third quarter increased 6% year-on-year to $173.8 billion. Third quarter Card Services charge-offs were 4.86%, compared to 5.20% in the prior quarter and 4.18% one-year ago. The managed 30+ day delinquency declined to 5.44%, compared to 5.24% in the second quarter and 5.14% for 3Q/06. Purchase volume for U.S. consumer and business cards was $61.4 billion for 3Q/07 compared to $61.4 billion for 2Q/07 and $60.6 billion for 3Q/06. For complete details on Bank of America’s 3Q/07 performance, visit CardData ([www.carddata.com][1]).

BOFA EOP CARD LOAN HISTORICAL
(U.S & International Cards)
3Q/06: $164.5 billion
4Q/06: $170.5 billion
1Q/07: $165.4 billion
2Q/07: $169.9 billion
3Q/07: $173.8 billion
Source: CardData (www.carddata.com)

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

Details

ICB FICO

The Irish Credit Bureau(ICB) will be implementing Fair Isaac’s “Global
FICO” risk score, combining the resources of both companies for
consumer risk assessment. The scoring technology ranks consumers
according to risk allowing lenders to sharpen their evaluation,
automate decisions and, thus, save time and money. Moreover, the
company’s FICO system assigns lower scores to consumers with more
delinquencies, higher scores to those with less delinquencies, has the
capability to separate consumer scores to provide lenders with flexibility
in risk management, and scrutinizes the consumer’s existing debt levels
for additional clarity. ICB provides data and credit bureau solutions to
banks and lenders in Ireland and is privately owned by its members.
Fair Isaac’s client base spans 80 different countries and is focal on
increasing customer loyalty, profitability, elminate fraud loss, manage
credit risk, meet regulatory and competitive demands and building
market share.

Details

Continental and GM Launch Biz MasterCards

Chase, Continental Airlines, General Motors and MasterCard have teamed to launch the first-ever “MasterCard World for Business” credit cards. The new “Continental Airlines World MasterCard for Business” card and the “GM Business Card World MasterCard” offer no limits on rewards. The new “Continental Airlines World MasterCard for Business” awards double “OnePass” miles for ticket purchases made directly from Continental Airlines, as well as on dining, gas and office supply store purchases. In addition, cardholders will earn one “OnePass” mile for every dollar spent on all other card purchases. The new “GM Business Card World MasterCard” offers three percent on fuel at the pump, dining, office supply stores, GM dealers’ parts, GM dealers’ services and one percent for all other card purchases.” Earnings can be applied toward the purchase or lease of more than 80 eligible GM vehicles at any time, and can be used with most other GM incentives. Beginning today and continuing through December 31st, any time “GM Business Card World MasterCard” cardholders use their card to make a purchase, they will be automatically entered for a chance to win a new 2008 Escalade.

Details

SMARTPAY JIEYIN PAYMENT AWARD

SmartPay Jieyin Ltd has been awarded the “Golden Olive” at the 2nd annual
China Mobile Phone Application Conference in recognition of its mobile
payment application. The “Golden Olive Award” is given to the nominee with
the Best Mobile Payment Application regarding technical innovation,
competitive business advantages and growth potential. The decision was
based on the results of online public voting and a panel of 100 industry
experts
and venture capitalists. SmartPay Jieyin is used by the Chinese for
mobile, utility,
and travel-related payments and is funded with investments from RRE
Ventures,
Evolution Capital, Lunar Group Capital and Accel Partners, among others.

Details

Mercury Payment Systems and Datacap Team

CO-based Mercury Payment Systems and Datacap Systems have teamed to release a full suite of plug and play products to help merchants improve payment processing performance. The product suite for Mercury includes Datacap’s “NoLoad IPTran” for high-speed Internet protocol processing, “NoLoad DataTran” for dial-up payment processing, and “NoLoad TwinTran” for IP processing with automatic dial backup in case the Internet connection fails. Mercury’s integrated payment processing solutions enable value-added services for merchants, such as free online transaction reporting with batch and deposit details, free 24/7 live customer and technical support and free “MercuryGift” card transactions.

Details

PBC CARDS

In response to a lacking rural remittance system, The People’s Bank of
China has launched a bank card service that targets the 120 million rural
migrant workers. In 14 provinces, the service connects rural and urban
banks providing safe cash access for the workers. The service allows the
workers to withdraw money from their rural local bank, their funds
deposited in banks near their place of employment, usually in urban
centers. This is a safer and more efficient alternative to the rural
remittance
system which often did not operate properly, did not provide rapid money
transfer and forced many workers to carry cash on their person for the
commute homeward. With a monthly rise of 24.7% since the pilot
introduction in 2005, workers have transferred over 1.02 billion yuan
between banks with the card service.

Details

ORCC and Postilion Renew Bill Payment Deal

VA-based Online Resources has renewed a multi-year reseller agreement with Postilion for bill payment services. Clients that choose Online Resources for bill payment will now benefit from the company’s “Biller Network and Real-Time Digital Scanline” technologies, which together generate the highest electronic and lowest claims rates in the industry. Online Resources powers financial technology services for thousands of financial institutions, billers and credit service providers. Postilion, a division of S1 Corporation, is a provider of integrated solutions for self-service banking and payment processing.

Details

FDC & POSTNET

First Data has announced its acquisition of POSTNET, which
provides merchant acquiring and payment processing for all forms of
payment across Canada. Furthermore, POSTNET provides
merchants with POS solutions, internet payments, emerging payments,
authorization, settlement, reconciliation, chargeback administration,
fraud prevention, reporting management and customer service. First
Data is intent on providing POSTNET with expansion in the
Canadian market with its acquisition of the company. First Data has
operations in 38 countries, serving over 5 million merchant locations for
1,900 card issuers and customers. Also, the commerce service provider
offers PIN-secured debit acceptance at 2 million ATM and retail locations
through its STAR Network.

Details

Springbok Services Hires a MasterCard Exec

Prepaid provider Springbok Services has hired Michael Ross, previously VP of prepaid products North America for MasterCard Worldwide, as SVP of sales. At MasterCard, he was responsible for the U.S. and Canada go-to-market strategy and product commercialization across MasterCard’s portfolio of prepaid products. Ross also held the position of vice president of emerging markets, and led the sales and business development of corporate prepaid solutions at MasterCard, within the corporate prepaid segment. Before joining MasterCard, Ross held sales and marketing positions specializing in branding, customer retention and new product launches, working with global companies including General Motors, Toyota and Harman International.

Details