Asia Pay 3Q Processing Shows Growth

Asia Payment Systems, Inc announced that third quarter 2005 processing
volume increased by 24% to 130,000 transactions. Q3 showed continued
growth and was fueled in part by the July holiday period. Asia Pay is
developing a credit card processing network that provides clearing
services to merchants, oil companies and financial institutions in
China, Japan and other markets of interest in Asia.

Details

Cap One Oct Charge-Offs Approach 8%

Driven by the recent surge in last minute bankruptcy filings, Capital One’s managed charge-off ratio exploded to nearly 8% in October, almost double its year-ago level and up more than 300 basis over September. Cap One says bankruptcy-related managed charge-offs hit a record $382.4 million in October. Charge-offs came in at 7.93% for October, compared to 4.62% for September, and 3.77% in August. One-year ago charge-offs stood at 4.10%. In June 2003, Cap One’s managed charge-off ratio stood at 6.20%. Delinquency increased slightly to 3.74%, compared to 3.73% in September and 3.69% for August. Delinquency one-year ago stood at 3.94%. At the end of October, Capital One had $85.0 billion in global outstandings. U.S. card outstandings, as of September 30th, were $46.3 billion, flat compared to one-year ago. For complete details on Capital One’s monthly metrics and 3Q/05 performance, visit CardData ([www.carddata.com][1]).

Month Charge-offs Delinquency
Oct 04 4.10% 3.94%
Nov 04 4.35% 3.87%
Dec 04 4.63% 3.92%
Jan 05 4.19% 3.84%
Feb 05 3.96% 3.65%
Mar 05 4.35% 3.45%
Apr 05 4.22% 3.37%
May 05 4.10% 3.43%
Jun 05 3.96% 3.49%
Jul 05 4.02% 3.66%
Aug 05 3.77% 3.69%
Sep 05 4.62% 3.73%
Oct 05 7.93% 3.74%
Source: CardData (www.carddata.com)

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

Details

GlobeTel Announces Alliance with FSS

Chennai-based Financial Software & Systems and GlobeTel Communications
have signed an agreement to establish a commercial relationship to market
stored value and money remittance programs. Electronic funds transfer
solutions and outsourced services of FSS power the majority of ATMs and
POS terminals in India, controlling most of the EFT in the country. FSS
plans to double its ATM
and POS deployment in the next three years. FSS provides online, real
time, electronic transaction processing and switching for financial and
non-financial transactions across multiple delivery channels and payment
systems and co-networks. GlobeTel Communications Corp. is a diversified
telecommunications and financial services company.

Details

BlackRock Buys a Stake in PPI for $20MM

Newark, CA-based Payment Processing has sold a minority stake to BlackRock for $20 million. The transaction will enable PPI to expand through technology development, facility expansion and acquisition. The transaction closed on October 31. Payment Processing provides integrated payment processing solutions, supporting over 500 software developers and more than 10,000 merchants and will process nearly $3 billion in Visa and MasterCard payments. BlackRock is one of the largest publicly traded investment management firms in the United States with approximately $428 billion of assets under management at September 30, 2005.

Details

Seven Banks to Issue VISA Debit Cards

Seven top Vietnamese banks have indicated their intention to offer “VISA Debit” within the coming year. More than 6,000 merchants already accept VISA cards of all types in the country which is undergoing rapid modernization in banking services. VISA is the only international card company with representation in Vietnam. The “VISA Debit” launch event was recently held in Ho Chi Minh City. The seven banks are: Asia Commercial Bank, Vietnam Export-Import Bank, Incombank, Sacombank, Saigon Bank for Industry and Trade, Techcombank and Vietcombank. VISA Asia Pacific projects that “VISA Debit” card spending at point of sale will increase to US$17 billion and the number of cards
will reach 90 million by the year 2007. “VISA Debit” card spending at the point of sale in Asia Pacific for the 12 months ending June 2005 totaled US$12.7 billion. There are more than 60 million “VISA Debit” cards in circulation in Asia Pacific.

Details

GARA Joins the RBS OneLynk Alliance

The Greek American Restaurant Association has joined RBS Lynk’s “OneLynk Alliance” program. The OneLynk Alliance is a relationship program for associations and banks to offer value-added payment processing services to their business members. The Greek American Restaurant Association (GARA) is a not-for-profit corporation established to cultivate and enrich the restaurant operations of its 1,500 restaurant-owner members.

Details

Cards Drive Parking Revenues Up by 40%+

NJ-based Parkeon reports that U.S. cities are seeing on-street parking revenues increase by up to 40% when they replace single space parking meters with solar-powered, multi-space pay and display terminals that accept credit cards as well as cash. Credit card purchases have accounted for nearly half of the five million transactions processed by the City of Seattle’s new multi-space, pay-and-display parking terminals since the first machines were installed in April 2004. Also, one mid-West city said the value of its card transactions is averaging $2.50 against cash payments of just over $1. Parkeon says experience shows that drivers boost parking revenues when using a card, as they are more likely to purchase the maximum time permitted. The Company also noted that carded parking payments are “Card Present” transactions, and therefore no losses are incurred in the unlikely event of card fraud.

Details

VISA Inks its Largest Utility Merchant

DTE Energy, parent company to Detroit Edison and Michigan Consolidated Gas, has joined VISA’s “Utility Program” and will now accept VISA exclusively for automatic recurring power bill payments. More than 700 residential utilities in the USA have joined the program since its launch in late 2004, extending the card option to more than seven million customers. DTE Energy has more than 3.3 million customers. DTE will use NOVA Information Systems as its payment processor. VISA says its volume in the utilities segment is up 43% over one-year ago levels.

Details

Mercury Payment & WPS Offer IP Payments

Mercury Payment Systems and Worldwide Payment Services have entered into
an agreement to provide integrated, Internet protocol payment
processing solutions. The Mercury solution, which is integrated to the
merchants’ point-of-sale systems, enables fast, two-second
Internet protocol processing of credit, debit, check, gift and loyalty
transactions. Mercury’s application includes free Web reporting, 24/7
technical support and free gift card processing. Mercury Payment Systems
is an integrated transaction processing company created to enhance
point-of-sale systems by offering credit, debit, check, gift card and
loyalty processing. Worldwide Payment Services is a provider of
end-to-end, credit/debit/gift/loyalty/store value cards, HIPPA-compliant
transactions, and check acceptance processing systems and services for
banks, merchants, corporations, healthcare providers and government
agencies.

Details

NTT DoCoMo Launches iD Credit Card Brand

NTT DoCoMo has launched “iD” a credit card brand for card issuers,
which will enable DoCoMo customers to make credit card payments with the
“Osaifu-Keitai” mobile phone equipped with wallet functions.
“iD” will enhance existing credit card services by giving credit card
owners the option of making payments via a DoCoMo wallet phone linked to
the card, in addition to conventional payments with their plastic credit
card. Applications for “iD” will be accepted through credit card issuers. Once the application is accepted, the user will download an “i-appli” application into their handset and choose various settings for using the service. In addition, DoCoMo plans to offer services as a credit card issuer using the “iD” brand in the first half of 2006.

Details

One in Five Rethink Online Banking

Dallas-based Entrust this week released an InfoSurv survey which found that 18% of all respondents have decreased their use of online banking or have stopped banking online completely in the past 12 months due to concerns regarding the security of their online identity. One in three respondents indicated that they were worried that the banking Web site they usually visit may not be the legitimate Web site, but rather one set up to steal their identity or account information. However, 81% of respondents indicated that they would not pay any costs for increased security. The FFIEC recently encouraged financial services institutions to move beyond user name and password and implement an authentication methodology aligned to the level of risk associated with the customer, the transaction, and the sensitivity of the information being communicated.

Details

RewardsNOW Intros Full Spectrum Rewards

NH-based RewardsNOW has introduced “Full Spectrum Rewards,” an all-encompassing program that can cover virtually every product and service a bank or credit union offers. Full Spectrum Rewards is a cost-effective program that systematically aggregates all data from the various customer offerings to achieve an accurate accounting of each customer’s rewards points. The program works with multiple processors if, for instance, an institution has different processors for its credit and checking accounts. RewardsNOW offers a variety of options for the types of rewards they can offer to their customers, including a highly flexible travel program, a broad range of appealing consumer goods, hundreds of gift certificate options and a wide range of downloadable content, such as music, mobile phone ringtones, and videos. RewardsNOW is a provider of marketing services for the financial industry.

Details