VISA Commercial GDV Rises 24% Y/Y

VISA International reports that global gross dollar volume for its four commercial payment solutions was up 24% year-on-year for the four quarters ended June 30th. The record US$317 billion in GDV was driven by business development and government adoption of VISA Commercial. Two years ago VISA hit the US$200 billion milestone in worldwide commercial volume. In 2001, VISA reached the US$100 billion mark. VISA’s commercial payment solutions include “VISA Business,” “VISA Corporate,” “VISA Purchasing,” and “VISA Commerce.” VISA made the announcement at the annual “EuroFinance International Cash and Treasury Management” conference in Florence, Italy.

VISA GLOBAL COMMERCIAL GDV
2001: US$100 billion
2002: US$149 billion
2003: US$178 billion
2004: US$200 billion
2005: US$255 billion
2006: US$317 billion
Source: CardData (www.carddata.com)

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VISA Named World’s Leading Credit Card

The World Travel Awards has named VISA the “World’s Leading Credit Card” for the ninth consecutive year. This enabled over 167,000 travel agents and professionals in over 200 countries worldwide the opportunity to let the world know who they think are the best in the travel industry. The winner was chosen from the following payment cards — American Express, Diner’s Club, JCB, MasterCard and Visa. Visa connects cardholders, merchants and financial institutions through the world’s largest electronic payments network.

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GE Introduces the ShopNBC MasterCard

ValueVision Media and GE Retail Consumer Finance have inked a multi-year deal for a cobranded credit card and for enhancements to its current private label credit card. ValueVision Media operates ShopNBC, an Internet retailer. The new “ShopNBC MasterCard” will offer a rewards program and the “ShopNBC Credit Card” will offer a broader range of credit options. The new credit cards are being marketed across multiple channels — online at ShopNBC.com, on-air via ShopNBC television broadcasts, reaching over 65 million households, and through direct mail marketing promotions. ShopNBC is one of the top three television shopping networks in the U.S.

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Best Buy and HSBC Launch a MasterCard

Consumer electronics giant, Best Buy, has expanded its “Reward Zone” program with the launch of a new credit card. The new “Best Buy Reward Zone MasterCard” offers rewards of 4% on Best Buy purchases and up to 2% on purchases made elsewhere. Best Buy also announced that it has eliminated the membership fee on its “Reward Zone” program. Under the “Reward Zone” loyalty program members earn one point for every dollar of qualifying purchases at Best Buy stores and Best Buy online. The new credit card version of the program is being issued by HSBC. In November 2001, Household, which was acquired by HSBC in 2003, signed a seven-year, exclusive private-label credit card agreement with Best Buy. Household managed part of Best Buy’s branded retail credit card program for nearly eight years prior to the deal. Household also launched a program in 2001 that allows customers to apply for the Best Buy card and a Household Bank MasterCard simultaneously. Best Buy has more than 1,100 retail stores across the U.S., Canada and in China. (CF Library 11/19/01)

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Green Dot Network Passes PCI Audit

Green Dot has successfully completed its first “PCI Data Security Standard” audit. The PCI Data Security Standard is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. Green Dot Corporation is America’s first and largest provider of prepaid cards sold at tens of thousands of locations across the United States, including Rite Aid, CVS Pharmacy, RadioShack, and Walgreens.

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TSYS Signs a Card Issuer Deal in Japan

TSYS has nailed its first processing relationship with a card-issuer in Japan. TSYS will support a new co-branded VISA to be offered by Toyota Finance and Nikko Cordial Securities. Next month, Toyota Finance will issue the “VISA Platinum” cards for customers of Nikko Cordial Securities. The card will be linked to the customer’s brokerage account facilitating the cash access via domestic ATMs and purchase transactions in Japan and overseas. Given the fact that many Nikko Cordial customers hold accounts in more than two currencies, cardholders can settle with yen-based account for domestic transactions and with U.S.-dollar-based account for overseas transactions. TSYS is the only third-party payments processor in Japan that currently offers multi-currency and multi-function support.

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PDS Launches an IVR Card Application

TX-based Payment Data Systems announced the general availability of an IVR application for credit card sales over the phone. The product is an Interactive Voice Response (IVR) application that allows a merchant or service provider to use a telephone to call a special number in order to enter its merchant ID and card number to process a credit card sale. Once the sale is approved, the system provides real time access from the merchant’s accounting department to view the transaction. Payment Data Systems, Inc. is an integrated payment solutions provider to merchants and billers.

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EVO & Cynergy Data Plan to Merge

EVO Merchant Services and Cynergy Data have agreed to merge into one entity to be called EVOcynergy. Combined the new company will service just over 160,000 merchants and will process $16 billion annually, making it one of the largest merchant acquirers in the U.S. today. In addition, EVO will be one of the first to issue credit cards to their merchant base in the late third quarter. EVOcynergy will be headquartered in Melville, NY. Ray Sidhom will head the new organization as its CEO and Marcelo Paladini will be President. EVO currently has an estimated annual credit card transaction volume of over $10 billion and a portfolio of 120,000 merchants. Cynergy Data currently processes over $6 billion annually and provides credit card services to more than 40,000 merchant accounts in the U.S. market.

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VISA COMMERCIAL

VISA International reports that global gross dollar volume for its four
commercial payment solutions was up 24% year-on-year for the four
quarters ended June 30th. The record US$317 billion in GDV was driven by
business development and government adoption of VISA Commercial. Two
years ago VISA hit the US$200 billion milestone in worldwide commercial
volume. In 2001, VISA reached the US$100 billion mark. VISA’s commercial
payment solutions include “VISA Business,” “VISA Corporate,” “VISA
Purchasing,” and “VISA Commerce.” VISA made the announcement at the
annual “EuroFinance International Cash and Treasury Management”
conference in Florence, Italy.

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TSYS Plans Consolidated Discover Servicing

TSYS Acquiring Solutions is integrating Discover Network card acceptance into its offering for merchant acquirers and ISOs. Full support for Discover Network products will be available on the TSYS Acquiring platforms, including integrated merchant billing and reporting, comprehensive merchant statementing and servicing, consolidated settlement processing, and exception and charge-back management. Discover also recently signed merchant acquiring deals with Global Payments and RBS Lynk. Discover Network has more than 4 million merchant and cash access locations in the USA.(CF Library 9/12/06)

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First Data Introduces the FD-100 Terminal

First Data has introduced the “FD-100” proprietary point of sale terminal that utilizes the Microsoft “Windows CE 4.2” operating system. The FD-100 offers enhanced transaction speeds along with ease of use and implementation for small and medium-sized merchants and will replace the company’s currently deployed Linkpoint AIO terminal. Produced in an ISO-9000 certified manufacturing environment, the FD-100 includes an integrated thermal printer, touch-screen technology and is off-the-shelf multi-language capable. First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide.

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