Cash Systems Signs 2 All-in-1 ATM Deals

Las Vegas-based Cash Systems announced two new multi-year contracts with Northern California-based Gold Bear Casino and New Hampshire-based The Lodge at Belmont for “All-in-1 ATM” services. Cash Systems will provide check cashing, all-in-1 atm services and e-cash systems for cash advance services for Gold Bear Casino. The Lodge at Belmont features year-round harness, thoroughbred and greyhound racing from all major racetracks, live greyhound racing in the summer season, as well as several dining options. Cash Systems is a provider of cash-access and related services to the retail and gaming industries.

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PPI and MacKay Meters Team for Parking

Payment Processing and MacKay Meters have teamed to offer a custom gateway for integrated credit card payment processing. The PPI gateway integration provides MacKay Meters with technology to ensure that all transactions are PCI compliant and provides all necessary data encryption requirements. This credit card payment solution is being implemented in multi-space parking meters across the US and Canada. PPI says it is on track to process in excess of $3 billion in VISA and MasterCard payments.

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Delinquency Rears Its Ugly Head Again

After receding sharply in the fourth and first quarter delinquency is rearing its ugly head again. Last month, 60+ day delinquency neared the 3% mark for the first time in eleven months. According to CardData, delinquency for the May period hit 2.99%, compared to 2.75% in the prior quarter and 3.07% one-year ago. The rise has been attributed to higher minimum payments coupled with rising interest rates on other personal and mortgage loans. It is expected that charge-offs will slowly rise through the rest of this year, significantly impacting credit card profits in the fourth quarter.

60+ DAY DELINQUENCY
Dec 05: 2.91%
Jan 06: 2.81%
Feb 06: 2.77%
Mar 06: 2.74%
Apr 06: 2.75%
May 06: 2.99%
Source: CardData (www.carddata.com)

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Convenience Usage Reverses Course

While monthly payment rates remain at historical highs the number of convenience users has sharply reversed after two years. As of May, only 40% of card account holders pay-off their balances in-full each month compared to 44% two years ago. Over the past decade the number of convenience credit card users or “30-day Wonders” has risen sharply from 29% to more than 40% according to CardData. The recent fall-off is most likely attributed to rising fuel costs and interest rising rates.

CONVENIENCE USAGE
2002: 39%
2003: 38%
2004: 44%
2005: 42%
2006: 40%
Source: CardData (www.carddata.com)

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Regulatory Fees Slow IDT Calling Card Sales

NJ-based IDT reported that calling card revenues increased 3.2% when compared to last year’s first calendar quarter. IDT says the U.S. calling card business recorded a $48.1 million accrual for the potential past liability of various telecom regulatory agency fees. IDT has filed an appeal related to the audit findings, and will vigorously contest the imposition of any of these fees. Due to this accrual, gross margins in its calling card business decreased to 7.7% in the first calendar quarter from 20.4% in the prior quarter. For complete details on IDT’s latest results, visit CardData ([www.carddata.com][1]).

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

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NOVA Picks Hypercom as Preferred Provider

U.S. Bancorp’s NOVA Information Systems has selected Hypercom as a preferred provider of card payment terminals and associated peripheral devices including the “T7Plus” terminal. To wit, NOVA has launched an aggressive POS field upgrade campaign which has resulted in the replacement of legacy payment devices with newer equipment. NOVA will also initiate “Class A” certification of the “VISA PED”-approved PIN Pad version of the “T7Plus” so that it can offer that terminal to merchants requiring an integrated PIN pad.

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NCR Wins 2006 Fraud Prevention Award

“The Banker Technology Awards 2006” has named NCR as the winner of the “Fraud Prevention Innovation in Retail Banking” category. NCR took top honors for its unique security solution for automated teller machine- (ATM) channel software, known as Solidcore for APTRA(TM). This first-of-its-kind approach to controlling the banking-software environment includes countermeasures against potential risks of compromise of the ATM channel, as well as innovative functionality to support regulatory compliance such as Sarbanes-Oxley. Solidcore Systems is a provider of real-time change control solutions for both the enterprise, government and OEM markets.

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MasterCard Tops 20,000 QPS Merchant Locations

MasterCard International has announced that more than 20,000 merchant
locations across Canada are enrolled in the MasterCard “Quick Payment
Service” (QPS) program. “QPS” was developed for use in retail and service environments where speed of payment is critical to the transaction, such as movie theatres, parking garages and quick service restaurants. MasterCard “PayPass” and “QPS” work well together for merchants in quick service environments. Any merchant that accepts MasterCard “PayPass” automatically qualifies for a minimum $30 transaction floor limit. This year, MasterCard “QPS” was
expanded to 12 categories including convenience stores, gas stations and
drug stores.

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ACS Lands the LA Metro Card Contract

Dallas-based Affiliated Computer Services has signed a five-year, up-to $60 million, contract with the Los Angeles County Metropolitan Transportation Authority to implement and operate a regional transit smart card service center. ACS will implement and operate the Regional Transit Access Pass (TAP) service center, providing services such as cardholder registration, card inventory and distribution, and point-of-sale network management. ACS is a provider of integrated revenue collection solutions to public and private sector operators of tolls, transportation systems, fare collection, and parking facilities.

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SoftFob Facilitates Internet Banking

NY-based Intelligent Voice Research has introduced a tool designed specifically to facilitate financial institutions in delivering a secure, multi-factor authentication key code to online consumers anytime, anywhere. The new “SoftFob” tool offers a two-factor authentication system with keys issued in real time, via voice message, email or text message to customers conducting online transactions. “SoftFob” does not require any specialized hardware, works with any operating system and is a totally outsourced solution.

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Cap One Names a New U.S. Card Overseer

Capital One has named a new head of its $47 billion U.S. card business. Jory Berson, a fourteen year company veteran, has been promoted to EVP of U.S. Card Operations, effective immediately. Berson most recently served as head of U.S. Card Operations. Capital One says Berson has been involved in every aspect of the card business including marketing, credit management, and operations. He will replace Catherine West, who has accepted the role of EVP/COO and COO for the TX-based J.C. Penney Company. West began heading U.S. Card in 2004 after having previously served as Capital One’s head of U.S. Card Operations. Capital One has 37 million credit card accounts in the USA.

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