American Express Elect New Board Member

American Express Company announced that Daniel L. Vasella, M.D. has been elected to its Board of Directors. Having served as CEO and executive member of the Board of Directors for 14 years following the merger that created Novartis in 1996, Dr. Vasella was appointed Chairman of Novartis in April 1999. Before the Novartis merger, Dr. Vasella was CEO of Sandoz Pharma Ltd. and a member of the Sandoz Group Executive Committee. From 1988 to 1992, he was with Sandoz Pharmaceuticals Corporation in the United States, prior to which he held a number of medical positions in Switzerland.

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Bank of America Deploys EMV Chip Credit Cards

Bank of America is deploying its chip technology on many of its consumer credit cards to increase acceptance and security of the cards for international travelers. Also known as EMV (EuroPayMastercard Visa), the cards are embedded with a microprocessor chip that encrypts and stores the account information. The cards also include the traditional magnetic stripe, which is used by U.S. merchants. The bank will include the chip technology in all newly issued Merrill Lynch credit cards, U.S. Trust Accolades, BankAmericard Travel Rewards, BankAmericard Privileges, and Virgin Atlantic travel credit cards. Customers will be able to request the chip card options at the banking center or via phone beginning this week and online later this year.

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Citi and Hilton Worldwide Launch New Credit Card

Citi and Hilton HHonors, the loyalty program for Hilton Worldwide’s 10 distinct hotel brands, introduced the Citi Hilton HHonors Reserve Visa Signature Card. This offers multiple ways to earn HHonors Bonus points on everyday purchases and an annual weekend night certificate good at over 3,800 hotels and resorts within the Hilton Worldwide portfolio. Consumers can apply for the new Citi Hilton HHonors Reserve Card online at www.hiltonreserve.com, for an annual fee of $95 and privileges including: Weekend Night Certificates for Stays at Thousands of Hotels in the Hilton Worldwide Portfolio; Two weekend night certificates after spending $2,500 in purchases within the first four months of cardmembership; Anniversary bonus of one weekend night certificate each year after $10,000 in annual purchase spend; and Ten HHonors Bonus Points for every $1 spent on hotels stays within the Hilton Worldwide portfolio of brands, in addition to base points normally earned for stays.

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Schedulicity Launches Online Credit Card Feature

Schedulicity online scheduling for appointment-dependent SMBs, announced the availability of Reliability+, a new feature offering businesses the ability to request a credit card hold from clients when booking high-value services, classes or workshops, eliminating loss of income from unattended appointments. Reliability+ stores credit card information according to PCI-DSS, providing security and privacy of payment information for businesses and their clients.

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TransCard Appoints CFO

TransCard added Richard Anderson as Chief Financial Officer, rounding out TransCard’s executive leadership team. As CFO, Anderson is responsible for helping to shape the strategic direction of the company. He is also responsible for all financial analysis, forecasting, reporting, investor’ communications, and risk management. Anderson was president and CEO of Shoreline Business Solutions, Inc., a leading provider of payment card personalization and fulfillment services to community banks and credit unions. Anderson has more than 25 years’ experience working with middle-market, entrepreneurial companies as an accounting, financial, and operational advisor. TransCard continues to identify talent that profiles excellence and has quickly become one of the fastest growing technology companies in Tennessee.

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Onebip Launches One-Click mPurchasing

Onebip mobile payment business unit of global mobile commerce company Neomobile, launched its single-click purchase feature for its Onebip Mobile Browser. Brands, mobile companies and digital and online merchants can now use Onebip’s new one-click feature to provide the simplest, smoothest and most intuitive way possible to make a payment on a mobile device. The new one-click feature means that mobile consumers worldwide can purchase digital content and services – such as music and video downloads, virtual currency, media subscriptions and games – via the browser on their mobile device, with just a single click of the Onebip icon. Onebip uses an encrypted identification process to immediately recognize the user’s phone number, which provides a secure, automatic authentication so that the user does not have to input any credentials such as a password or PIN. The user only needs to click once on the Onebip icon to confirm their transaction: no further actions are needed.

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Etisalat PCI Certified as a Payment Service Provider

Etisalat has upgraded its PCI DSS certification for the Etisalat Payment Gateway. Etisalat’s Payment Gateway infrastructure was assessed by Paladion, the Qualified Security Assessor (QSA), recognized by PCI Security Standard Council. Paladion certified Etisalat’s compliance with PCI-DSS V2.0 as a payment service provider. Etisalat Payment Gateway is one of the first eCommerce Payment Service Providers in the region to have acquired PCI-DSS 2.0. Paladion worked closely with Etisalat to implement practical and cost effective solutions and processes to ensure 100 per cent compliance to the standard. This achievement clearly distinguishes Etisalat from its competitors and ensures the organization remains the best payment services option for its customers and end-users.

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Bank Machine inks ATM deal with Shell UK

Cardtronics announced its United Kingdom subsidiary, Bank Machine, has made Shell U.K. service stations the newest additions to the company’s roster of premier retail locations. By the end of 2012 Bank Machine will install, own and operate more than 600 free-to-use ATMs at Shell U.K. company-owned sites. All Shell U.K. company-owned sites supported by Bank Machine will receive ATMs outfitted in Shell colors, and complete with on-screen marketing and receipt couponing functionality. Upon completion of the ATM installation project, Bank Machine will have consolidated multiple ATM services relationships for Shell U.K. Additionally, all Bank Machine-owned, Shell U.K.-located ATMs will be folded into Allpoint Network and its ATM locator immediately upon installation.

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CitizenCard & White Eagle Intro Visa pre-paid/ID card

White Eagle deployed its photo ID, proof of age, combined with VISA Prepaid / e-wallet functionally with CitizenCard Limited. The Visa Prepaid CitizenCard offers a re-loadable prepaid card with chip and PIN security which can also be used for instant card to card payments to anyone else with a CitizenCard. The White Eagle platform allows the users of their card to manage their account 24/7 online, by SMS or IVR. The Visa Prepaid CitizenCard will be highly competitiveetitive as a standalone prepaid card, with the added benefits of being a proof of age and ID card, as well as cardholders being able to receive LEALTA discounts at over 20,000 local and national retailers across the UK.

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Visa Showcases ‘Future of Payments’ at 2012 Olympics

Visa announced during the London 2012 Games it will showcase the latest payment innovations, namely payments via mobile phone and chip-enabled payment cards. During the London 2012 Olympic and Paralympic Games, Visa and its partners are enabling Visa sponsored athletes, trialists, and visitors to experience the new solution. To make purchases, consumers select the Visa icon on the Samsung device and hold the phone to a contactless payment terminal to pay. The application also users to manage their spending by checking account history and balances real time. There are around 37 million Visa payWave-enabled credit, debit and prepaid cards in circulation across Europe. Contactless cards will enable visitors to the London 2012 Games to make “wave and pay” purchases at thousands of retailers. PIN or passcode is not required for purchases below £20 (limits vary by country). By the end of 2012, Visa Europe expects to have more than 50 million Visa payWave cards in circulation in Europe.

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Late Card Payments Hit Record Lows

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. credit card performance continues to excel as delinquencies are hitting record lows to an 18-year record low of 1.78%. The June charge off rate of 1.89%- meanwhile- is the second lowest ever recorded and he chargeoff index is down to 5.09%. Given this, charge-offs are not expected to top 6%…

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MasterCard Index Shows Small Business Outperforms Overall Retail Sales

MasterCard Advisors released its SpendingPulse index in partnership with Wells Fargo indicating June spending at small retailers was up 8% from the year ago figure, higher than the overall U.S. retail growth rate of 6.9%. Each MasterCard SpendingPulse for Small Business report includes information about current retail sales (excluding autos and gasoline), year-over-year growth in total retail sales (excluding automotive sales), as well as views with and without food services. The report provides valuable information for all stakeholders who support or work with small businesses, including merchants who sell to small retailers, advertisers, and economists.

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