Deion Sanders to Support eLayaway.com

eLayaway.com has announced that Deion Sanders will be joining the company as Ambassador to help people avoid the pitfalls of credit card debt and promote an alternative to credit. eLayaway.com is similar to traditional layaway allowing shoppers to buy a product online and pay for it in regular automatic installments with ACH processing by HSBC and delivery upon full payment. eLayaway.com does not charge per-sale transactions fees to merchants. eLayaway.com is for customers who are near or behind their credit limit or those who simply want to avoid high interest credit card fees. eLayaway.com lists 3.5 million products and growing, with merchants such as Comp USA, Serta, Shoppers Choice, Diamond Source, Apple, and Intel.

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TotalSource XL Emerging Market is Unveiled

Equifax has launched “TotalSource XL Emerging Market,” a new direct marketing prospecting tool to help lenders target households that are likely in need of financial products and would be receptive to invitation-to-apply offers. TotalSource XL Emerging Market data is refreshed every six weeks, giving financial institution marketers access to prospects before they are flooded with competing offers. Created from a database containing extensive data on the unbanked market, TotalSource XL Emerging Market provides highly responsive consumer selects, including demographics, lifestyles and behavioral attributes to help lenders identify households in need of financial products. Lenders can then leverage these data attributes to align audience segments with the product or service being promoted through ITA offers.

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PSCU PayLynx Tops 500K Monthly Subscribers

FL-based PSCU Financial Services has topped 500,000 subscribers and 2.6 million bill payments per month for its “PayLynx” online bill payment service. PayLynx also boasts a greater percentage of active subscribers and higher rates of acceptance for electronic bill payment by billers than other providers of the CheckFree service. It is also launching online bill payment for small businesses in January. The cooperative was the first to offer “FraudNet”, a bill payment fraud detection and prevention tool and has developed innovative marketing materials that includes an online video designed to build consumer acceptance.

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GE Money to Issue the Closet Tailors Card

GE Money will offer a new private label credit card to U.S. customers of home organizing franchisor Closet Tailors. The “Closet Tailors Credit Card,” managed by GE Money’s Sales Finance unit, will be available through more than 100 franchises across the U.S. and offers a quick and easy application, sales process with promotional financing and deferred interest terms. According to surveys conducted by the National Association of Home Builders (NAHB) in 2005, garage storage alone is a $2.5 billion industry with anticipated growth of 20 % change per year through 2010.

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U.K. Credit Card Stats Show Improvement

Credit card delinquency (60+ days) hit a twelve-month low in August and has dropped for the fifth consecutive month. For August, delinquency in the U.K. dipped to 3.4%, compared to 3.6% in the prior month and 3.8% one-year ago. According to FitchRatings, delinquency reached a historical high in April 2007 of 4.1%. Also, the “Fitch Charge-Off Index” remained relatively stable in August, having dropped 20 basis points from the previous month, to 7.0%. The Fitch monthly payment rate index fell to 17.9% in August, a month-on-month decrease of 60 basis points.

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GAP YEAR CARD

Advanced Payment Solutions has introduced a pre-paid MasterCard for gap year students. The new “Gapyear.com MasterCard” offers a 10% discount at hundreds of travel partners worldwide. It is also a personalized “Chip & PIN” card and offers purchase protection in line with credit based products, but also includes protection for purchases under GBP 100. It can be topped up at over 20,000 outlets throughout the UK, 15,000 of which are free and, conveniently for parents, by standing order. The card is issued by Broadcastle Bank Ltd.

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Affinion Direct Response Group is Launched

CT-based Affinion Group has launched Affinion Direct Response Group, a new direct response marketing division. The group offers an in-house full-service direct marketing agency, marketing strategies, creative development, database modeling, database analysis, telemedia advancements and direct mail strategy & print production. Affinion Group also has a growing loyalty solutions operation which administers points-based loyalty programs.

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DEECAL & FDC

First Data has acquired the payments software provider, Deecal
International, allowing the electronic commerce service company to expand
in the commercial payments industry. Enhancements resulting from the
acquisition include an enhanced global commercial payments offering and
state-of-the-art management information capability for clients. Furthermore,
Deecal provides a commercial card e-payment solution supporting
commercial, business, purchasing, corporate travel and entertainment cards
for domestic and international organizations. With over 200 client banks,
corporations and government agencies, Deecal brings to First Data direct
connections with such companies. 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.

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Electronic Payment Exchange Joins PCI Council

DE-based payment processing provider Electronic Payment Exchange has joined the Payment Card Industry Security Standards Council as a Participating Organization. An independent organization formed in 2006 by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International, the council is designed to help merchants, payment device and service vendors, financial processors and financial institutions safeguard customer payment data. This mission is facilitated through the broad adoption of the Payment Card Industry Data Security Standards (PCI DSS).

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WINCOR NIXDORF & DQS

DQS has awarded Wincor Nixdorf with the certification of its Information
Security Management System. This development recognizes the security
system as compliant with ISO 27001 international standards for
information security management including the introduction, operation,
monitoring and maintenance of systems and processes. The certification
award instills a sense of confidence with Wincor’s clients by ensuring a
corresponding security process is established and is monitored regularly.
Wincor Nixdorf supplies POS and ATM systems in over 90 countries,
has over 7,700 employees and had net sales of $2.5 billion in 2006.

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BofA Resurrects the 50-Year Old BankAmericard

In a bold move Bank of America has re-launched the original “BankAmericard” credit card. The first nationally accepted bank credit card now offers a rewards VISA version. BofA claims its new card is the richest and most flexible rewards programs with no annual fee in the country. The “BankAmericard Rewards VISA” offers 1.25 reward points for every purchase, plus an annual rewards bonus of 25% for maintaining their banking relationship. The card also offers no limit on points and a no-fee concierge service. The “BankAmericard” credit card debuted in Fresno, California, nearly five decades ago.

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