MEGAMART VISA

ICICI Bank and Megamart have teamed to introduce a co-branded “VISA Gold” credit card. The new card earns six reward points for every Rs 200 spent at any Megamart clothing outlet. Points can be redeemed for Megamart vouchers. New cardholders receive a bonus gift voucher of Rs 200 upon making their first purchase. Other card benefits include 90-days free financing on purchases above Rs 1500, plus free
alteration of garments and access to special promotions. Megamart has 54 outlets in 16 cities across the country.

Details

AmEx Enhances Green/Gold Card Features

American Express Middle East has enhanced features of its “Green”
and “Gold” card for members. On top of the standard features of
charging no interest and no payment limit, AmEx offers travel accident
insurance of up to US$ 350,000 for the Gold Charge Card and
US$ 100,000 for the Green Charge Card, covering travel inconveniences,
such as missed flights and lost luggage, in full. Additionally,
cardmembers can take advantage of the “Selects program”, giving
them access to a wide range of special offers across 50 countries.
Complimentary access is also given to exclusive airport lounges,
assured reservations at hotels, companion tickets and upgrades through the
“International Airline Program”, travel services from 2,200 locations
around
the world, free Emergency Card Replacement 24-hour Customer Care,
Global Emergency Assistance and Express Cash facility.

Details

Bills Seek to Ban Interchange on Sales Tax

A survey of state legislative activity shows that nine states have introduced a total of 15 bills over interchange fees and/or merchant discount fees. The Merchants Payments Coalition says its research showed that most of the bills seek to ban interchange fees on the sales tax portion of transactions. Such bills have been introduced in Florida, Kansas, Nevada, New York and Washington. Kentucky, Nebraska and Texas have introduced bills requiring credit card companies and issuing banks to be more transparent in disclosing rules and fees. A bill in Tennessee would cap interchange rates at 0.75 percent. Some states have multiple bills pending that would address various aspects of interchange.

Details

Bank Negara Launches AKPK Debt Program

In its Kota Kinabalu branch, Bank Negara has introduced Agensi
Kaunselling dan Pengurusan Kredit (AKPK), an agency to provide
credit counseling and money management. The agency provides clients
with financial education and debt management plans using one-to-one
counseling. Representatives give advice to cover financial budgeting, money management and credit issues and provides assistance with analysis of the clients’ financial situation and identification of all possible options. Approximately 3,000 customers have benefited from AKPK’s Debt
Management Program since April 2006, when it was introduced.

Details

ICICI and enStage Deploy Verified by Visa

ICICI Bank and enStage have partnered with VISA for the
deployment of their 3-D secure solution, “ACCOSA 3-D”. The
new solution will provide protection to its cardholders for online
transactions. “ACCOSA 3-D” secure software initiates a verification
software at the bank using ‘Verified by VISA’, the program enables
the bank to intercept transactions to verify identity and requests
the cardholder to enter a PIN. Experts say this will prevent consumer
fraud and theft.

Details

Yucheng & CMB Launch POS Merchant Acquiring

Yucheng Technologies Ltd. has announced a partnership with China
Merchant Bank(CMB) for the introduction of its POS merchant-
acquiring service for banks in China. Yucheng will focus on merchants
of all sizes across different retail markets including restaurants,
shopping
malls, and bars. The company provides outsourced solutions to
Chinese Banks such as POS machines and maintenance, merchant
acquisition, authorization and capture of transactions, merchant billing
and training and has an acquiring team of over 70. Yucheng currently
services more than 550 merchants and, by 2008, expects to be
operational in 8 cities with 7,000 merchants.

Details

Bank of East Asia Unveils FastCash Card

The Bank of East Asia has introduced the “FastCash Card”, an ATM
card that improves accessibility. It was designed with the senior
citizen in mind by simplifying the ATM interface and providing
direct access to account balance information and cash withdrawal
services. Furthermore, the HK$50 annual fee for the “FastCash
Card” is waived for those aged 65 or older. The new service is
to be available at all BEA ATMs and approximately 1,200
additional JETCO ATMs.

Details

WAY Systems Names a New Marketing Manager

Boston-based WAY Systems has hired Cheryl Duszak, formerly with GSSI, First, and Torrent Systems, as Marketing Manager. Duszak joined WAY in March and brings over 15 years of experience in high-tech marketing to the already experienced WAY marketing team. She previously held marketing management and director positions at GSSI, First, and Torrent Systems where she was key in each company’s rapid profit growth. Duszak will be responsible for all WAY marketing communication activities, including advertising, events and public relations. WAY Systems is a provider of wireless transaction processing and global service provider of mobile phone based Point of Sale solutions.

Details

Westpac Cardholders Reward Conservation

In conjunction with Easy Being Green, Westpac has launched
a ‘green’ initiative for its’ “Altitude” cardholders. Cardholders
can redeem points for offsetting greenhouse gas emissions of auto
and plane travel and purchase environment-friendly products for their
home. Westpac is promoting the reduction of CO2 pollutants with
the green card, which is among its other programs including the
green mortgage package – the Economical Living Program – the
e-statements initiative and the Westpac Landcare Term Deposit.

Details

AmEx Offers a Private Charter Prepaid Card

American Express Incentive Services has teamed with JetOne Jets to offer a prepaid card for flying private charter. The new “AccessOne Card” is available in denominations of $100,000, $200,000, $500,000, and $1 million and is loaded with funds worth a specific number of flying hours. JetOne offers rewards and VIP perks such as complimentary in-flight catering, limousine service, a 24-hour concierge team, bonus gifts and free jet upgrades. The “AccessOne Card” is packaged in a custom-made wooden box along with a keepsake signature leather carrier. Additionally, a percent of all “AccessOne’s Card” purchases is donated to the “Corporate Angel Network” in the cardholder’s name.

Details