U.S. Elders Face Credit Card Abuse

The National Center on Elder Abuse says over two million Americans each year are abused financially including credit and debit card fraud. Signs to watch for include uncharacteristic and unexplained withdrawals of large sums of money by an elder or someone with Power of Attorney for an elder, elders who appear nervous when accompanied by another individual or give far-fetched explanations of why they need money, new signatories added to an elder’s account or newly formed joint accounts between an elder and another individual and abrupt changes in a will or other financial document; transfer of an elder’s assets to a family member or acquaintance without a reasonable explanation.

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SPS Hires an ISO Relationship Manager

San Diego-based Secure Payment Systems has hired Michael Pruitt, former Product Development Manager for First American Payment Systems, as ISO Relationship Manager. In this newly created position, Pruitt will be responsible for maintaining and growing existing ISO relationships as well as heading SPS’ team of agent sales support. Prior to accepting this role, he worked as Product Development Manager for First American Payment Systems overseeing all of new and existing product suites for the company. Before that he spent nine years working for National Data Funding Corp in various management positions encompassing Customer Service, Technical Support, and Operations. Michael brings SPS a wealth of knowledge and experience working with ISO’s and sales agents in all facets of electronic payments.

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CITIC Bank to Deploy NCR’s Personas M Series ATMs

CITIC Bank has inked an ATM deal with NCR. CITIC
currently owns more than 1,000 ATM units nationwide. Under the terms of
the contract, NCR will provide CITIC with maintenance services and NCR’s
latest self-service technology, including NCR “Personas” ATMs and its
newest, multi-function “Personas M Series” ATMs with
NCR’s “APTRA Edge” software. This offers CITIC a solid foundation for the addition of new services and for the future deployment of a single software application environment across its entire ATM channel. CITIC will also migrate high-volume, low-commercial-value customer transactions from its teller counters to the self-service channel and plans to add new service offerings on its ATMs in the future.

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Survey Says ATM Owners Must Add Services

A recent survey published by Level Four Software indicates the need to
offer modern, dynamic services to customers at the ATM was cited as a
key driver by ATM network owners undertaking migrations to the Windows
platform. The survey, which was undertaken worldwide over the last
three months, banks and third party processors responded overwhelmingly
in favor of improving the frequency and diversity of services they can
offer to customers via the ATM. Owing to complexities in the existing,
outdated ATM software model, only 31% of respondents currently change
their ATM information on a monthly or more frequent basis. When asked to
rank out of 10 their desire to provide more dynamic, customer-centric
information at the ATM – such as advertising, improved customer services
and personalized promotions – the mean average of respondents was over 7
(with 10 being the most desirable). 57% of respondents’ ATM networks
will be converted to Windows as the operating system by June 2006 and
53% of respondents believe IFX will be the industry standard protocol
for communications between ATM and host devices within five years.Level
Four is a global provider of test and development tools for the ATM channel.

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TeleCheck Services Acquires ClearCheck

First Data’s TeleCheck Services has acquired the assets of ClearCheck, a full-service provider of return check management systems for major U.S. retailers and supermarkets. The acquisition of ClearCheck will allow for significant enhancements to TeleCheck’s existing check processing and collections technology. The ClearCheck services include web-based products and tools that provide clients easy access to view and analyze their check collection portfolio and a streamlined process to handle returned checks.

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Asia Payment Systems and Global Uplink Team

Asia Payment Systems has signed an agreement with Guangdong-based Global Uplink Communications. With this alliance, Uplink and Asia Pay will cooperate in developing loyalty card programs, initially in Guangdong Province followed by other major Chinese markets and have initiated planning for a joint business development program which will soon get under way. The initial focus of this program will be to grow the existing CRM business to provide a sound foundation for a loyalty card program targeted for 2006. The loyalty card program will provide a stepping stone to the eventual issuance of credit cards. Uplink provides customer relationship management and related services sector.

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BIG TICKET CARD

Dubai-based Emirates Bank has introduced a new credit card that enables cardholders to automatically split all their transactions into installments of either 12 or 24 months. The new “OPTIONS MasterCard Installment Card” is designed for large purchases of at least AED 1000 and up to a maximum of 4 times the cardholder’s monthly salary. The card carries a flat interest rate of just 0.80% per month, lower than most prevailing credit card interest rates in the country. Emirates says the new card is a pre-approved personal loan in your pocket.

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GCA Beefs-Up its Company Web Site

Las Vegas-based Global Cash Access has beefed-up its Web site to make it more visually appealing and easier to navigate. GCA’s Web site has significant content improvements, with new information on some of the company’s newest cash access products for the gaming environment, including the 3-in-1 enabled QuickJack(TM) Plus redemption kiosk and its cashless gaming kiosk, EDITH. More detail about key employees and their involvement with the company also have been added. In an effort to make information more accessible for the growing investor interest in GCA, the Web site features an in-depth investor relations section with company presentations, stock price and financial and corporate governance information.

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ChinaGoHi Launches a Stored-Value Card

PacificNet announced that its ChinaGoHi subsidiary has launched a stored-value point card for its financial content services in China.
The value of a card is measured by points and will be credited to each
customers account when they purchase the points. After successful
transactions, customers will then be given an access code and password
that enables customers to log into ChinaGoHi’s hot-line IVR system or to
its internet portal in order to listen, watch and read audio and video
programs, access research reports that contain stock analysis, market
review, investment recommendation etc. Charges are deducted against the
stored-value points provided by the pre-paid cards/accounts based on the
access times of customers utilizing the services. PacificNet Inc.
through its subsidiaries, invests in and operates companies that provide
outsourcing and Value-Added Telecom Services. ChinaGoHi is an
information content provider of Chinese stock market information,
analysis and investment advisory services.

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Experian Offers a Signaling Service

Experian has unveiled a highly customizable and intelligent solution for credit grantors that analyzes the credit behavior of customers and prospects to make acquisition, portfolio management and collections decisions. “Credit Migration Solutions” signals when consumers meet predetermined thresholds for credit scores and attributes, such as changes in balances, utilization or delinquency behaviors. The suite of products that make up “Credit Migration Solutions” is driven by Experian’s “Customer Prospecting and Portfolio Services” relational database.

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Systech and Switch Team for ATM IP

San Diego-based Systech has teamed with Switch Commerce to convert dial-up ATM transactions to IP-based transactions. Switch Commerce has agreed to integrate and certify Systech’s “IPG/7000” family of dial-to-IP converters for production deployment to merchants transitioning ATM processing to the Internet. The gateways connect both legacy and new ATMs to the Switch Commerce processing host over the public Internet using secure SSL IP protocols. No changes are required to the installed ATM applications. Merchants with existing, private IP networks can also use the Systech solution to convert and re-route dial transactions through existing WAN links.

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