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.

Details

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.

Details

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.

Details

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.

Details

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.

Details

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

Details

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.

Details

SKYPASS VISA Launches a Sweepstakes

U.S. Bank and Korean Air are celebrating the fifth anniversary of SKYPASS Visa with a special sweepstakes. The sweepstakes offers a chance to win one of four first prizes of 50,000 SKYPASS miles or the grand prize of two round-trip business class tickets from the United States to a Korean Air destination and a $10,000 U.S. Bank Gift Card. Current SKYPASS Visa cardmembers will be automatically entered once for every $1 they spend on the card in net purchases. U.S. Bank and Korean Air will also offer new cardmembers bonus miles when they make their first purchase using their SKYPASS Visa. The SKYPASS Visa allows customers to earn miles for net purchases charged with no cap on the miles earned and their miles never expire. Korean Air, has a fleet of 122 aircraft and is one of the world’s top 20 airlines, operating almost 400 flights per day to 112 cities in 36 countries. U.S. Bancorp has $221 billion in assets, and is the parent company of U.S. Bank.

Details

31% of Americans to Give Grad Gift Cards

A new survey has found that it is most likely this year’s high school and college graduates will receive cash from most of their older relatives and friends. Overall, 31% of Americans will hand-out gift cards this year, but 43% of those between ages 18 and 24 will do so, compared to 29% of those over age 55. The National Retail Federation’s inaugural Graduation survey, conducted by BIGresearch, found that 59% will give cash, while tangible favorites like apparel (9.1%) and electronics (11.5%) will take a backseat. The survey found that Americans will spend $4.5 billion on graduation gifts this year. Parents and grandparents will spend the most on graduation gifts this year, with the average American over the age of 45 spending over $110 on gifts.

Details

Covera Offers CU’s PCI Compliance

NY-based Covera Card Solutions, a provider of ATM, debit and credit card processing services, announced it will now be offering compliance support to all client credit unions for their ATM, credit and debit programs at no additional cost. Covera decided to introduce the free value-added service after they began receiving a myriad of compliance calls. Many of the calls were received whenever new federal or state changes were made to existing card regulations. Coveraâ™s Compliance Solutions services include: Hotline and e-mail support; webinars; updates/bulletins as needed; and compliance related articles in Covera Solutions, Coveraâ™s quarterly newsletter. Covera Card Solutions, a division of CUC Services Inc., provides credit unions in New York, New Jersey and Connecticut with flexible card programs.

Details

NOVA Offers PCI Compliance to Level 4

NOVA Information Systems has launched a data security compliance program to help “Level 4” merchants comply with the Payment Card Industry Data security Standard. According to the PCI DSS, Level 4 merchants are defined by processing fewer than 20,000 e-commerce transactions and/or fewer than 1 million VISA or MasterCard transactions annually. All of NOVA’s Level 4 merchants will now have access to AmbironTrustWave’s Risk Profiler, an automated risk analysis engine. The tool has primarily been used by acquirers and ISOs to identify and aggregate risk across their entire merchant base. According to an analysis of AmbironTrustWave data compromise investigations, Level 4 merchants account for more than 80 percent of the cases in which credit card data is stolen from merchants. AmbironTrustWave is a global provider of information security and compliance management solutions to businesses and the public sector. NOVA currently processes for more than 850,000 merchants in North America, most of which meet the Level 4 criteria and is a wholly owned subsidiary of U.S. Bancorp.

Details