BADR Deploys ACI’s BASE24 Software

Banque de l’Agriculture et du Developpement Rural has deployed ACI’s “BASE24” software. “BASE24” will enhance BADR’s ATM and POS network transaction processing. ACI is helping the bank develop dedicated in-branch areas for customers to make transactions via ATMs.
BADR will also leverage “BASE24” to deploy new functionality including support for EMV and multi-currency capability, improving customer service and reducing the risks associated with credit and debit card fraud. The bank is running “BASE24” on a HP “NonStop” platform. BADR manages the country’s largest banking network with 290 agencies and 40 branches.

Details

Consumers – Stable & Cautious with Credit

The latest “Experian-Gallup Personal Credit Index” shows that consumer feelings about credit are stabilizing as they take a wait and see outlook with regard to changes in the economy. Two months ago, the Personal Credit Index stood at 100, but it dropped sharply last month to 82 and has moved slightly upward this month to 86. The Experian-Gallup Personal Credit Index measures four key areas related to credit: level of debt, monthly payment burden, credit rating, and debt extension capability. The Gallup Organization has studied human nature and behavior for more than 70 years.

Details

Interchange Battle Enters Round One

The rhetoric heated up yesterday between merchants and the card networks over interchange in the wake of the “2005 Payments Conference” produced by the Federal Reserve Bank of Kansas City. MasterCard said the attacks on interchange by merchants are disingenuous and misguided considering that their own payment systems, as well as those offered by the three-party networks, are more expensive and inefficient. MasterCard says as a result, merchants are moving away from their own card systems and are offering co-branded general purpose cards. The National Retail Federation says credit and debit card interchange fees account for nearly $2 out of every $100 consumers spend. The NRF says card company rules force retailers to hide these fees in the price of merchandise and effectively prohibit merchants from giving a discount for cash or checks in all but a handful of situations. The NRF has labeled interchange as a “hidden tax.” MasterCard says the real “hidden tax” is the 2% of the nation’s GDP that goes to pay class action lawyers.

Details

Info Touch Signs Maverik Country Stores

Info Touch Technologies has signed Maverik Country Stores to deploy self-serve automated bill payment and financial services touch-screen terminals at 35 select convenience stores in Salt Lake City and Boise. The TIO Network provides patrons with secure and convenient access to financial services, geared towards the under-banked marketplace. Maverik Country Stores, Inc. operates about 170 convenience stores in seven western states and represents the area’s largest independent gasoline marketer. Info Touch Technologies is a strategic investment of Hewlett Packard and builder of the “TIO Network”, the largest national multi-retailer network of self-service financial service kiosks in North America.

Details

FalconOne Fights Fraud Across Data Silos

Fair Isaac has taken fraud management to a new level by offering a unified platform across multiple departments or “data silos” within banks. The new “FalconOne” software system will help financial institutions address every type of customer and account fraud within an organization through a configurable set of detection, case management and analytic capabilities. Within the “Falcon One” infrastructure, Fair Isaac is offering “Falcon Fraud Manager” for credit card and debit card transaction fraud and “Falcon ID” solution for identity fraud protection. Each “Falcon One” solution includes a detection component, which determines the likelihood that a particular activity is fraudulent and provides a fraud score and a case management component, which guides the analyst through a consistent review process to help resolve suspected fraud cases. The “Falcon One” infrastructure offers several additional services, including dynamic data optimization, real-time data sharing and continually updated profiling of customers, merchants and institutions.

Details

Cap One Decorates D.C. with Piggy Banks

Capital One is unveiling today 15 over-sized piggy banks to be placed around the nation’s capital to promote its “Stash Your Cash” financial education program with D.C. middle and junior high schools. The Stash Your Cash program introduces students to basic money management skills, with an emphasis on starting to save money at an early age. Capital One’s subsidiaries collectively had 49.1 million accounts and $81.6 billion in managed loans outstanding as of March 31, 2005.

Details

Chex Systems Buys Natl Check Protection

eFunds’ Chex Systems has inked a deal to acquire the assets of National Check Protection Services for a base purchase price of approximately $20 million. The acquisition will accelerate the delivery of new risk management services to the Northeast market and contribute enhanced bankruptcy and criminal data to DebitBureau. NCPS provides information services for new account verification, employment screening and due diligence investigations. eFunds Corporation offers electronic payments and risk management products and services.

Details

Coast Air Becomes an UATP Merchant

Coast Air recently achieved “UATP Merchant” status. Coast Air will also utilize “UATP Settlement Services,” a low-cost, weekly settlement system that matches fees and air tickets electronically,
allowing for easy reconciliation of accounts for non-clearing house
transactions. While all UATP accounts will be accepted, Scandinavian
Airlines System and AirPlus, which operates British Airways and Lufthansa’s UATP programs, are popular in this market. Coast Air offers
nine scenic destinations in Norway including Haugesund, Oslo, Trondheim,
Fagernes, Bergen, Kristiansund, Sandefjord, Stord and Skien.

Details

Club Rewards Wins its 8th Freddie Award

“Club Rewards” from Diners Club has won the “Best Affinity Charge/Credit Card Program” (Americas) for an eighth consecutive year in the “Freddie Awards.” More than 315 000 of the world’s most frequent travelers from 156 different countries and regions cast ballots. The Freddie Award is named after Sir Freddie Laker in honor of his accomplishments in marketing travel. Diners Club North America is owned by Citigroup and is a key franchise within the Diners Club International network.

Details

NetCert Launches a New Online Shopping Platform

NetCert has introduced a new generation of its “Great Online Shopping” platform, “Treasure Island Mall.” NetCert says that divisions between B2B, B2C, and C2C will gradually disappear, merging into a pan-business, pan-market environment. The core technology and design of NetCert’s credit account and “forced credit” transaction platform fits perfectly with this new trend of development. It is foreseeable that as China’s national limitations on participating in financial institutions are gradually relaxed, the NetCert system can become a new breed of online credit cards. The key features of the “Treasure Island Mall” are designed to create an easy and friendly shopping environment more conforming to real-life shopping habits, while enjoying the flexibility of online shopping with greater efficiency and pleasure.

Details

CASH2GO MAESTRO

The International Currency Exchange and MasterCard Europe have teamed to launch a PIN secured, pre-paid “Maestro” debit card to replace paper travelers cheques. The new “Cash2Go” card can be loaded with sterling, US dollars or euros. The minimum load value is GBP50, US$50 or 50 euros and the maximum is GBP2,500, US$2,500 or 2,500 Euros. The card is currently being piloted at ICE exchange bureaux in the UK, including those at Heathrow Airport, and selected branches of Travelcare, a UK travel agent. Full roll-out is scheduled to take place in the UK over the next three months.

Details