American Express OPEN announced has expanded its “OPEN Savings” program with OfficeMax, HP and Flextronics RTS’s Firedog tech support and enhanced savings with Hertz. “OPEN Savings” gives small business owners automatic savings virtually every time they use an AmEx Business Card to make purchases at any OPEN Savings partner. Firedog allows Cardmembers to save 10% on all Firedog purchases including end-to-end tech support service for computer installations, repair, PC upgrades, virus removal and all other business technology needs at www.firedog.com or 1-800-FIREDOG. Meanwhile, Hertz offers members 10% off and 5% on purchases when spending between $500 and $2,500 a year and 10% on purchases when spending more than $2,500 a year. The HP Direct partnership allows Cardmembers to receive 5% off all purchases and OfficeMax offers 5% in savings on a $100+single transaction.
Sonja Schindeler has been appointed TransUnion Fraud Solutions VP in the Canadian market. Schindeler is joining TransUnion to manage the development and complete life-cycle of TransUnion’s suite of fraud solutions, which include detection tools, fraud analytics, alerts, monitoring and compliance. In her prior role, Schindeler led Fair Isaac’s Global Fraud Solutions division and further expanded international acceptance of the company’s fraud detection solution. Schindeler previously spent 10 years at TransUnion, where she spearheaded the development of detection and fraud prevention tools. Schindeler graduated from the University of Alberta.
RBS WorldPay has certified the Way Systems’ “way5000” mobile POS terminal. The POS device is a new generation, portable, wireless transaction processing terminal that is fully Class A supported by RBS WorldPay and available immediately. RBS WorldPay will market the way5000 through its multiple sales channels, including its nationwide direct and ISO sales forces. RBS WorldPay is a single-source provider of electronic payment processing services for credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services. WAY Systems offers end-to-end payment solutions for mobile merchants all over the world for the payment transaction needs of mobile merchants and exceed industry security standards.
ALI Solutions Intelligent Decision Automation solutions President and CEO is set to co-present a webinar with the Executive VP, Credit Executive – Consumer, PNC Financial Services Group. The presentation will take place on Tuesday, September 14th, from 1:00 p.m. to 2:00 p.m. central daylight time, via Bank Administration Institute (âBAIâ). Registration can be made at http://www.bai.org/events/webinars/details.aspx?ec=0369&et=webinars. The webinar entitled âManaging the Two Faces of Risk: How Wise Risk Management Can Generate Revenueâ is designed to show the growing sophistication of risk management in todayâs economy, and the pitfalls in marketing campaigns overlook such risk considerations.
With nearly 40% of the consumers indicating personal financial management (PFM) tools would be beneficial to managing their finances, only 15% used a PFM service in the past 90 days, of which 68% did so from online banking sites. With this popular interest in PFM tools, actual usage remains quite low, indicating potential for growth. This, according to Fiserv financial services technology, shows consumers are very interested in tools allowing them to track and analyze their spending and create budgets. Use of PFM services at online banking sites was more than twice as high as the top ranked third-party personal financial management Web site. This indicates consumersâ preference for, and trust in, online banking sites from their financial institution, which provide secure access to detailed financial information and the ability to complete financial transactions in one integrated user experience. These conclusions were drawn from Fiserv’s online survey in December 2009 of 3,000 online banking users.
Based on current growth rates, inflation rates and the impact of new regulations, gross dollar volume for Visa and MasterCard debit cards surpassed credit cards in 2010. Also, the combined GDV for U.S. credit and debit cards will likely exceed $4 trillion in 2010 after having so recently passed the $3 trillion milestone in 2008. According to CardData (www.carddata.com), Visa and MasterCard posted $1.63 trillion in credit card GDV in 2010 so far and $2.11 trillion in debit card GDV. Debit card GDV has been growing an average of 25% quarter over quarter so far this year while credit card GDV has been slowing, having grown only 12% in the first quarter and only 8% in the second. Due to the overall economy and new credit card rules to be implemented over the next two years, issuers will continue to pull back on new account acquisitions, reduce operating costs and focus on credit quality, thereby reducing the capacity for consumers to fuel credit card charge volume. Furthermore, Americans are likely to emerge from the current recession as “credit averse,” as the increase in the savings rate is currently indicating.
CREDIT vs DEBIT
(Visa & Mastercard)
Credit Debit Total
2008: $1583 $1514 $3097
2009: $1630 $1696 $3326
2010: $1700 $2300 $4000
2011: $1800 $2300 $4100
2012: $1900 $2400 $4300
Source: CardData (www.carddata.com)
VersaPay Corporation, merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions has granted an aggregate of 550,000 stock options to Bill McGill in connection with his recent confirmation as CEO and appointment to the Company’s board of directors, as well as certain other employees of the Company, pursuant to VersaPay’s employee stock option plan. Each option is exercisable to acquire one common share at a price of $0.66 per option until August 25, 2015. VersaPay’s financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions.
Discover has been named by the International Quality & Productivity Center (IQPC) as the winner of the âBest Performance Leveraging Customer Service Feedbackâ category in the 2010 Call Center Excellence Awards. The annual awards honoring and promoting the most innovative call center solutions and individuals across all major industries, the IQPC awarded Discoverâs service delivery excellence program. Focusing on customers, Discovery employees at all levels attend call-listening sessions to hear recorded playback of actual customer service calls. The sessions, totaling nearly 8,000 hours annually, include questions and commentary from attendees, and a discussion of the key aspects of the calls.
Ingenico payment solutions has deployed the Fortis Bank Turkiye advertising campaign with its “EFT930G” color screen terminals. In the first phase, the advertisements for Fortis Worldcard will appear periodically on hundreds of Ingenico terminals deployed by the bank. EFT930 series The screen of the EFT930G is divided into two sections displaying the Fortis Bank Turkiye advertisement and a PIN entry screen at the same time, providing specific messages to the credit cardholders during the payment process. In the idle mode, the Fortis Bank Turkiye logo and ads are displayed alternatively.
Motorola has partnered to offer the Mint “PartnerSelect” members a payments service that allows mobility customers to accept payments using their existing Motorola hardware. Developed to be Software as a Service (SaaS), the Mint Managed Payment Service integrates with the Motorola ISV and Solution Partner’s existing Windows Mobile software solution and enables payment acceptance through their application in conjunction with the Motorola DCR7X00-200R. The Motorola DCR7X00-200R is a “snap on” payment device for any Motorola MC70 and MC75 mobile computer out in the field. Mint will provide the payment application for the ISV designed to support the new payment hardware.
Wells Fargo has expanded its “ExpressSend” remittance network in Mexico through an agreement with Houston-based Transnetwork Corporation. Adding more than 4,000 payout locations in Mexico for a total of more than 9,000 locations, the remittance payout network with the expansion includes Soriana, Famsa, BBVA Bancomer, HSBC Mexico, Banorte and Telecomm Telegrafos. This allows more customers to send money directly to their beneficiary for one low transfer fee. Transnetwork provides a turnkey solution to money transfer organizations and banks by offering a large and diversified payment network in Mexico and Latin America.
CRE Secure cloud-based, secure payment solution for online merchants PCI compliant payment acceptance service is now integrated with Payleap electronic payment services. This integration substantially reduces the risks associated with security breaches and the incident of online fraud for online merchants and their customers. With its HTML clone design, online consumers are redirected to CRE Secureâs hosted payment platform through a window seamlessly mirrored from within their trusted merchantâs website. Since visually consumers feel like they never leave the merchantâs site, online merchants are able to maintain greater levels of branding continuity and security for their customers when processing âcard not presentâ transactions.