U.S. Bank to Issue the Cache VISA

Cache’, a specialty retailer of social-occasion sportswear and dresses, has teamed with U.S. Bank to introduce the “Cache’ VISA” card. Cardmembers will receive 1,000 bonus points with their first purchase, five points for every dollar spent at Cache’, Cache’ Luxe or cache.com and one point for every dollar in net spending where ever Visa is accepted. Once a cardmember reaches 2,500 points, he or she will automatically receive a $25 Cache gift card. Cardmembers will receive quarterly statements where they can track the points that they have earned or redeemed, along with the balance. Cache Accents benefits include: a five percent discount on all purchases, for life; free ground shipping on all online and special orders; exclusive sale events; advanced notice of special private events; a preview of new collections via email; coupon offers exclusively for Accents members and hotline phone alerts about store events.

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Eurobank & Serverside Offer Custom Cards

Using Serverside Technology, Eurobank EFG will offer its customers
the option to customize their VISA Classic or Mastercard. This new
feature is being marketed on the Internet, newspapers, magazines,
public transportation, merchandise and television as “PhotoCard”.
The “PhotoCard” option costs 5 euro and offers themes such as
Greece, sports, travel and nature. The customer can customize the
images of these various themes online and, until June, will be available
free-of-charge.

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TNB Drives Coca-Cola Family FCU Balances

The Coca-Cola Family FCU generated a 3.59% response rate for a “Holiday Convenience Check Promotion” managed by TNB Card Services. The promotion, which ran from October 2006 through January 2007, featured special checks mailed to select cardholders, which they could use during the busiest shopping season. The Atlanta-based Coca-Cola Family FCU average check written was $2,482. Credit cardholders at participating credit unions generated more than $1.36 million in balances. TNB Card Services provides electronic payments processing for more than 475 financial institutions, managing more than 1.6 million cards.

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Global Pay Signs Payroll Card Deal

Liga Municipal Dominicana (LMD) will provide Global Pay Solutions with
payroll cards for 70,000 municipal workers, providing revenues estimated
to be $400,000. With an average transaction fee of $3.00 per card, this
provides an estimated annual transaction revenue of $2,520,000. LMD
is a division responsible for allocating central government transfer
payments
to municipalities, approving municipal budgets, technical support to
municipalities and as the payroll department for all of the municipal
agencies
and their employees. This payroll card program will be directly managed by
GPSI Dominicana to provide workers with access to their funds through
ATMs throughout the world, as well as additional goods and services.

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U.S. Echo Boomers Poised to be Savers

A new study of consumers between the ages of 18 and 28 found that 80% stick to a strict budget when making purchases and 81% describe themselves as trying to cut back on what they spend. Nearly half of the “Echo Boomers” describe themselves as savers and 88% like to buy things for others more often than buying things just for themselves. The VISA USA commissioned study estimates that by the year 2015, the “Echo Boomer” generation will account for approximately $2.45 trillion in annual spending. Overall, the research concluded that “Echo Boomers,” who believe they are facing a difficult economic future, are demonstrating a more practical and mature approach to spending beyond their years. Interestingly, only 25% of “Baby Boomers” describe the “Echo Boomers” as an admirable generation compared to 68% of “Echo Boomers” who admire “Baby Boomers.”

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Alliance & Leicester Intros a PrePaid Visa

Alliance & Leicester Commercial Bank, in conjunction with Money Card
Limited (MCL), have introduced a prepaid card suited for the insurance
industry. In payment disbursement to claimants, the card offers insurance
companies some advantages such as cost savings, financial control, and
fraud reduction. The new solution also offers insurance companies reduced
management and reconciliation times, automated processing (reducing office
administration), claimant spending monitoring and can restrict where funds
can be spent. For security, cards are also available as Chip & PIN and, if
lost, can be blocked and replaced.

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BofA Mobile Banking Goes Nationwide

Bank of America completed the rollout of its secure Mobile Banking service. This will enable more than 20 million Online Banking customers to manage their personal finances ‘on the go.’ Using the Web browser built into most current cell phones or smartphones, consumers can: check balances on their checking, savings and credit card accounts, as well as mortgages and home equity lines held with Bank of America; pay their bills and e-bills; transfer money between accounts and to other Bank of America customers; view transactions for checking and savings accounts, mortgages and home equity lines, including posted and pending transactions.

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DBS Bank Selects Agilis EmPower ATM Software

DBS Bank has chosen Diebold’s “Agilis EmPower” software platform
for the operation of their ATM network. The software offers a self-service
network that allows the banking group to build customized transactions by
designing and integrating features and functionality that respond to
customer
requirements. It also provides future software scalability, through XML and
.NET technology, that integrates into multi-level networks and
enterprise-level
systems. “Agilis(R) EmPower(TM)” provides a platform that is flexible with
change and allows the use of existing codes for new transactions, reducing
cost by reusing current applications.

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MacDill FCU Joins the CO-OP Network

Tampa-based MacDill FCU has joined the CO-OP’s national surcharge-free ATM network operated by CO-OP Financial Services. MacDill’s members gain access to 2,072 CO-OP Network ATMs across Florida and 25,000 ATMs in the U.S. MacDill FCU holds $1.8 billion in assets and 178,000 members. In addition to its military affiliation, membership is now open to the employees of over 1,100 affiliated companies in the Tampa Bay area. CO-OP Financial Services is the nation’s largest credit union service organization.

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ICBC Bank Installs Diebold Solution

ICBC Bank has installed Diebold’s “RemoteTeller System ”
to maximize service and cost efficiency. “RTS” increases productivity by
allowing one teller to serve two or more customers simultaneously and
can be located in less costly and more secure area of the facility. In doing
so, the solution provides closed-circuit televisions (CCTV), allowing
tellers
to assist from remote locations, combining ATM banking and pneumatic
tubes for transactions between the customer and bank representative. Also,
voice communication is allowed with a telephone handset on the console.

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Target’s Credit Card Profits Rise 21%

Target reported that its pre-tax credit card profits for the quarter ending May 5th increased 21% over the year-ago quarter. Credit card outstandings for the quarter increased 11% year-on-year, remaining above $6.5 billion. Target’s first calendar quarter pre-tax credit card profits were $143 million, compared to $187 million in the prior quarter and $118 million one-year ago. Target reported that its total credit card receivables, which include its VISA and “Guest” cards, were $6.510 billion as of May 5th, compared to $6.711 billion for 4Q/06 and $5.844 billion one-year ago. Delinquency (90 days+) for 1Q/07 decreased to 3.2%, compared to 3.5% in the prior quarter and 3.0% one-year ago. Charge-offs rose to 6.0% for 1Q/07 compared to 6.1% in the prior quarter and 4.3% one-year ago. Target’s credit card unit had net revenues of $418 million in 1Q/07, a 13% increase over 1Q/06. For complete details on Target’s latest performance, visit CardData ([www.carddata.com][1]).

TARGET CARD LOAN HISTORICAL
1Q/06: $5.844 billion
2Q/06: $6.041 billion
3Q/06: $6.148 billion
4Q/06: $6.711 billion
1Q/07: $6.510 billion
Source: CardData (www.carddata.com)

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

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Circuit City/Pirates Offer STV/DVD Card

A new hybrid gift card has entered the market that combines a stored value function and DVD interactivity. The new “Pirates of the Caribbean: At World’s End” prepaid card is being offered by Circuit City to coincide with the movie’s opening this week. The card was created by NY-based Serious Digital Publishing. It is the second interactive card created by the firm for Circuit City. The card will play on DVD players, Win/Mac drives as well as the gaming consoles, PS2, Xbox & Xbox 360. The payment card data is held on the top and the DVD side holds 180 MB of content. The DVD gift card looks and feels like a standard gift card with a magnetic stripe on the front that swipes at the point of sale terminal. However, the PET (standard PVC surface) is bonded by a special technique to the DVD part on the underside, which additionally has a protective coating on it to resist scratching.

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