TSYS Renews Sage Payment Solutions Contract

TSYS Acquiring Solutions has renewed its merchant-processing service agreement with Sage Payment Solutions. Sage Payment Solutions (formerly Verus Card Services) is a provider of payment-processing services to small- and mid-sized merchants. In 2006, services were provided to more than 100,000 businesses for a combined purchase volume of about $10 billion. TSYS Acquiring Solutions is a supplier of acquiring solutions, related systems and integrated support services to the acquiring industry and its customers. Sage Payment Solutions provides a wide range of merchant services including merchant accounts, equipment, processing solutions for retail, MO/TO and Internet businesses and customer loyalty cards.

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VOCALINK

Payments and clearing network Voca is merging with the operator of the Link cash machine network. The new firm, to be called VocaLink, will support the “Faster Payments” initiative and compete in the “Single Euro Payments Area.” Voca (f/k/a Bacs) processes 15% of Europe’s automated payment volume, while Link operates more than 60,000 cash machines across the UK. The new company will create a European payments
processor that will handle over eight billion transactions a year.
Under the terms of the proposed merger VocaLink will be managed through a new board including independent non-executives, but the business will be headed by current Voca chief executive Marion King, while Peter Presland, Link’s current chairman, will assume the role of non-executive chairman.

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eFunds Migrates to the EFD Brand

AZ-based eFunds has launched its new global corporate brand. Now known simply as EFD, it will transition to the new name, which is also its stock ticker symbol, over the next 18-24 months. The company has more than 35 years of enterprise payments and data & decisioning expertise. Its brands include: EFD ChexSystems; EFD DebitBureau; EFD DataNavigator; EFD CONNEX; and EFD Prepaid Solutions.

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ClickandBuy to Offer P2P Payments for Europe

ClickandBuy will offer a secure person-to-person payment system on the
European market. The company, an ePayment service for digital content,
can deliver over 40 payment types enabling merchants to increase income
and gain access to new markets. Merchants use the service for its hosted
commerce system and ability to provide different types of payment
methods. ClickandBuy ensures secure transactions and multi-currency
capabilities. Over eight million consumers and more than 7,000 online
merchants worldwide are successfully using ClickandBuy worldwide.

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Benny Card Recognized as Most Innovative

CT-based Evolution Benefits was awarded for “Most Innovative CDHC Product or Solution–Payment Card” at the Consumer-Driven Health Care Expo. Prepaid Media, producers of the CDHC Expo, hosted its first annual CDHC Awards during the 2007 Expo, recognizing noteworthy professionals, organizations and programs throughout the consumer-driven health care industry. Evolution Benefits is the provider of the “Benny Prepaid Benefits Card” that applies advanced payment and auto-substantiation technologies to FSAs, HSAs, and HRAs and powers the card programs of more than 140 managed care and administrative services organizations, covering more than 4,100 employers.

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CU Acquisition Campaign Produces Response

TNB Card Services says its “Fall Acquisition Promotion” for credit unions produced strong results for three Texas credit unions. Abilene Teachers FCU reported a 1.54% response rate, pushing its total number of cardholders beyond 3,700. Bashas’ Associates FCU of Tempe generated a 2.39% response rate from the promotion. AMOCO FCU of Texas generated a 1.44% open rate. TNB manages more than 1.6 million cards.

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BofA Launches Emergency Relief Card Line

Bank of America is rolling-out a line of prepaid VISA card products to assist corporations and government agencies to prepare for catastrophic events. The new “Emergency Relief Cards” can be customized to employ merchant code restrictions, cash withdrawals permission/limits and what dollar amount is to be preloaded on the cards. BofA says a new version of the card will be available this summer, allowing clients to pre-order unfunded cards that can be activated and loaded with funds based upon a pre-determined contingency plan. Under this system, intended recipient names and pre-authorized amounts will be kept on file with the bank to be activated if and when needed. This information will be updated monthly by the client. BofA can also activate the cards if the client is unable. BofA provided 200,000 prepaid cards to the Salvation Army following Hurricane Katrina.

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Ahli Bank to Implement Experian-Scorex Solution

Jordan Ahli Bank has announced that it is to implement a managed
application evaluation service from Experian-Scorex. Experian-Scorex
meets the demands of Ahli Bank in establishing automation that responds
to the client within seconds. This application service enables Jordan
Ahli Bank to accurately assess a credit risk and make consistent
decisions about their potential value as a customer. The solution also
enables business-scenario evaluation for calculation of various
potential changes. This also evaluates the effectiveness of lending
strategies. Experian-Scorex maintains connectivity with more than 70
credit bureaus around the world. JAB, in addition to Jordan, has a
presence in Lebanon, Palestine, Cyprus, and a 19% stake in JIB (London).

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Reward Credit Cards Take London by Storm

A new survey has found that 83% of credit cardholders in London have a rewards program attached to their card. The most popular are retail rewards cards (47%) followed by cash back (19%) and travel rewards (17%). The survey by Goldfish also found that between November and January about 39% of Londoners redeemed an average of GBP 349 on their credit cards, in the form of retail vouchers, cash back and travel rewards. Women are slightly more likely to hold a rewards based credit card than men (78% vs. 75%) however, men redeemed two-thirds more over the past three months (GBP 178 vs. GBP 101). Cardholders aged between 30 and 50 redeemed the most over the past three months, gaining GBP 187 compared to GBP 148 redeemed by under 30s and GBP 89 by the over 50s. The survey involved about 2,000 cardholders.

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Euronet Signs its First SEPA Acquiring Agreement

Euronet has announced the company’s first “Single
Euro Payments Area” agreement. Signed with
OMV Refining & Marketing GmbH, the agreement stipulates a “SEPA”
compliant cross-border transaction processing
solution in Central and Eastern Europe. What is referred to as a “SEPA”
is an area in which consumers and companies will be able to make and
receive payments in Euro, regardless whether the transaction is between
or within national boundaries under the same basic conditions, rights
and obligations. The intentions of “SEPA” is to advance European
integration by promoting use of the single currency, a single set of
Euro payment instruments(ie. credit transfers), and efficient processing
infrastructures for Euro payments. The signing of this agreement
signifies a far-reaching change in Europe allowing merchants with
fragmented and expensive operations to achieve significant cost
savings by centralized operations and processing.

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