ScandiCard Integrates Electron Card and Invoice System

Integrating Visa’s “Electron Debit Card” and invoicing features,
Scandicard is introducing “Easy Invoice”. “Easy Invoice” allows for
invoices to be electronically sent and automatic alerts when the invoice
is read. Furthermore, when those on the receiving end of the invoice
make payment, through whatever means, the sender is alerted once
again. Considering that this is a low cost option for what is usually
an expensive solution, experts believe that before the end of the year,
“Easy Invoice” will attract upwards of 10,000 new customers.

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Late Auto Payments Destroy Credit Scores

While credit card delinquencies impact consumer credit scores, a new analysis has found that the average credit score for U.S. consumers with no late auto payments is nearly 100 points higher than for those who have at least one late payment. The latest “National Score Index” study by Experian Consumer Direct also found that nationwide, 12% of consumers have at least one late auto payment on file; the national average balance on an auto loan is $15,654; the average U.S. monthly auto payment is $495; and 28% of the U.S. population has at least one auto loan or lease on file.

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Global Payments to Provide Processing to STARBANK

Global Payments Europe has signed a payment processing service agreement
with
STARBANK to provide authorization, card management, bank card
personalization,
fraud monitoring, ATM and POS management, e-Commerce, and (SMS) alert.
This development is expected to help with the expansion of the bank’s
credit
card marketing in Russia. Global Payments serves financial institutions
with
indirect payment services, card issuing services and credit bureau
processing
services for consumers, merchants, Independent Sales Organizations (ISOs),
financial institutions, government agencies and multi- national
corporations.

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FoodStuffs Launches a PrePaid Gift Card

FoodStuffs Wellington, in conjunction with Loyalty New Zealand, has
introduced the “New World Gift Card.” The new card is sold in
denominations of $25, $50, and $100 and uses a technology platform
provided by Loyalty New Zealand. The card also incurs points with the
store’s existing shopper’s program, “Fly Buys”, when used and is
available for purchase at 45 of the store’s locations.

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Buy-Now Pay-Later eScore is Introduced

MN-based eBureau has rolled out “Buy-Now Pay-Later eScore”, a new predictive scoring service. Buy-Now Pay-Later eScore provides statistical scores that accurately measure the payment probability associated with individual online consumer sales transactions. This allows direct marketers to confidently make deferred payment and “pre-qualified” marketing offers up front â” techniques proven to increase consumer response rates and boost average order value â” while minimizing the risk of non-payment and subsequent bad debts. Although 2006 online retail sales surpassed $136 billion in the U.S., a significant percentage of Internet users are unwilling to provide credit card information for Internet purchases. eBureau provides a suite of precision marketing, risk management, and fraud prevention information solutions to multichannel marketers, financial services companies, online retailers, and agencies today.

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PPI Enters Dry Cleaning POS Software

Payment Processing has partnered with NC-based Liberty Computers, a developer of dry cleaning point-of-sale software. With the new integrated solution, customers of Liberty Computers can process credit card transactions more quickly and easily, and with fewer manual entry errors. Payment Processing provides integrated payment solutions. In 2006, PPI processed over $3 billion in VISA and MasterCard payments.

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Super Wealthy Prefer AmEx Centurion

A research service says that American Express’ $2500 per year “Centurion” card is the most prestigious credit card among the super affluent. New York-based Luxury Institute says MasterCard’s “World Elite” ranked third while VISA’s “Signature” and “Platinum” cards came in fourth and fifth. The “2007 Luxury Brand Status Index” ranks consumers with a minimum net worth of $5 million and $200,000 in annual income. The national sample of over 500 ultra-wealthy American consumers, with an average income of $775K, and average net worth of $14.4 million, was surveyed online.

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Chase Expands Rapid Cash to NY, NJ & CT

Chase has expanded its consumer money transfer service for Mexicans to the New York Tri-state area of New York, New Jersey and Connecticut. “Rapid Cash” enables Chase checking account customers to make three free transfers, up to $1,500 each, per monthly statement cycle. The money is transferred to Banorte bank, which has more than 1,000 branches and 2,800 ATMs in Mexico, and deposited into a Banorte account or picked up at any Banorte branch in cash for no fee. Customers can use their “Mexican Matricula Card” as a form of identification to open the account. “Rapid Cash” was first introduced to Chase customers in Texas, then rolled out to a larger part of the country. The NY launch is being supported with TV and radio advertising.

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Western Union And Subsidiaries Convene On Issues

Regarding expansion opportunities and challenges, Western Union and its
subsidiaries discussed issues in Istanbul, Turkey recently. Represented by
nearly 450 agents, the subsidiaries addressed increased global economic
migration. This was important communication between the remittance provider
and the agents because they are the presentation of Western Union to
consumers. Western Union concluded the summit in addressing the importance
of customer awareness. Consumer-to-consumer money transfers generate over
60% of Western Union’s total revenue and has a network of more than 305,000
global Agent locations in more than 200 countries and territories.

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UATP Signs US Helicopter for Corp Cards

US Helicopter has joined the Universal Air Travel Plan network, making it the first helicopter service to accept all UATP corporate cards. US Helicopter offers the “Eight-Minute Shuttle Service” operates from 7 in the morning to 8 at night between Manhattan, JFK and Newark Liberty. US Helicopter operates 285 weekly flights to/from the Downtown Manhattan Heliport, Atlantic Metroport at East 34th Street, JFK International Airport and Newark Liberty International Airport, as well as service to/from Downtown Manhattan Heliport. US Helicopter provides scheduled, reliable, fast and affordable helicopter transportation designed to meet the needs of time-sensitive business travelers. UATP accounts are accepted as a form of payment for corporate business travel by airlines and travel agencies worldwide.

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COMMERCE HUBS

A new “Index,” developed by a panel of economists, has identified London as the top commerce hub in the world followed by New York, Tokyo, Chicago and Hong Kong. London offers a flexible operating environment for business, strong global financial connections and exceptionally high levels of international trade, travel and conferences. The MasterCard “Worldwide Centers of Commerce” program, which is designed to provide insights and knowledge on how leading cities influence the global economy, says that New York City, once considered the unchallenged financial capital of the world, cedes the “Financial Flow” category to London primarily because bond market regulations in New York affect the volume of listed sales. New York’s score is also impacted by the less stable US economy and the more volatile US dollar. Complementing the “Worldwide Centers of Commerce Index,” MasterCard also released the “Worldwide Centers of Commerce Insights” report titled, “The Dynamics of Global Cities and Global Commerce.” The report includes additional, in-depth expert commentary on the vital role cities play in connecting networks to enable global commerce and is available at mastercardworldwide.com. In the coming months, subsequent reports will be released as part of this initiative, including a growth index that measures the pace and scope of changes taking place within each city identified in
the “Centers of Commerce Index,” and an additional index that will identify and track emerging Centers of Commerce in the developing world.

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