Yooopi! ethno mobile virtual network operators (MVNO) and VoiceCash prepaid twin card have partnered to launch the “Procash Card Austria”. Yooopi! SIM-cards allow cheap-rate national and international calls, without registration, without contract commitment, without minimum charging and without basic fee. The “Procash Card VoiceCash” and Yooopi! are offering two prepaid MasterCard cards to allow cashless payment in stores or online shopping and to assign money worldwide. The Procash Card set consists of a main card and a receiver’s card for easy remittance transmission.
American Benefit Plan Administrators (ABPA) has entered into a multiyear agreement to convert its claims payment operations to FIS’ healthcare claims payment and remittance management system, “Claim Pay/Claim Remit.” ABPA completed implementation of the first phase of the conversion on July 1, 2010 and intends to complete the next phase by early 2011. FIS’ “Claim Pay/Claim Remit” system provides the process, security and technology to help clients such as ABPA efficiently and cost-effectively coordinate both paper and electronic payment and remittance distribution through a single processing and reporting interface.
mopay payment solutions for online merchants is now offering mobile payments for social games published on international social networks. With this, mopay recently closed deals with 16 social games developers and platforms, bringing the seamless mobile payment experience of mopay to more than 100 new social games worldwide. Among the 16 new partners for mopay are such well-known brands as Farbflut Entertainment, Geewa, Plinga, POPMOG and wooga (for their VZ-Networks offer). All of these companies publish their games over various platforms including Facebook, Hi5, MySpace, Orkut and VZ-Networks offering in-game items such as virtual goods and services for purchase.
Hancock Bank has launched its mobile banking through NCR’s multichannel platform. Offering Hancock Bank customers a consistent brand and user experience across mobile, online and ATM channels, NCR “APTRA” Mobile Banking offers mobile access via a web browser or text banking service. The Bank anticipates that most customers will bank on their smart phone using the Hancock Bank-branded application downloaded directly to their phone, 60% of whom bank on an iPhone or Blackberry device. Additionally, 79% of U.S. consumers would choose one financial institution over another based on the ability to better control when and how they bank while 26% globally have changed financial institutions at least once in the past five years in order to gain access to m-banking.
Western Union global payment has partnered to make available to State Bank of India (SBI) account holders cross-border money transfers in their bank accounts using just their mobile phones. This is being made possible through the Western Union “Account-Based Money Transfer” (ABMT) service, giving 110 million SBI account holders an additional option to direct a Western Union Money Transfer into their accounts anytime and anywhere. Western Union’s “Account-Based Money Transfer” service complements SBI’s nationwide network of more than 12,000 branches currently offering the Western Union Money Transfer service.
Credit Sesame online tool that helps control credit and save money with smarter loans has launched to help people make better choices about their own credit and debt. Using technology and analytics previously only available to big banks, Credit Sesame creates 5,000 scenarios to find the best-suited loans for each user and lets people apply directly for those loans online. Credit Sesame finds that the average homeowner can save up to $600 each month by simply optimizing their current loans. Credit Sesame’s easy to use website only takes a couple of minutes to register for and gives a lifetime of benefits. Consumers get a complete picture of their debt and credit in a way they can use and understand. Users learn what is good and bad about their situation, and receive unbiased advice on how to improve their financial picture instantly with pre-qualified, objective and forward looking options online.
On September 30 at the Yonge and Eglinton Centre, thousands of cans will be transformed into a 16-foot replica of the Eiffel Tower to mark the official launch of the American Express “Gold Rewards Card.” The American Express-sponsored installation symbolizes what’s possible with this new concept in travel rewards. With double reward point accumulation on everyday purchases like gas, grocery and drugstore, the American Express Gold Rewards Card can quickly transform cans into vacations. The new Card is also designed to give Cardmembers unprecedented choice and flexibility when redeeming points, and freedom from restrictions associated with other programs.
Two TSYS executives will appear at the upcoming ATM, Debit & Prepaid Forum from October 3-5. Sarah Hartman, senior director, will give a presentation titled, “Meeting the Changing Needs of Consumers” on Monday, October 4 to focus on new innovations in the marketplace that have evolved to meet the ever-changing needs of today’s consumers. Meanwhile, Blake Barker, senior director of card services, will also present on Monday, October 4 at a session titled, “On-Demand Payment Cards and Personalization” to co-present with Gareth Jones, senior vice president, Serverside, addressing the expectations of the digital age where consumers have come to value choice and one-to-one offerings.
The Conference Board Leading Economic Index (LEI) for Australia increased 0.8% in July to 120.0 (2004 = 100), following a 0.6% increase in June, and a 1.0 percent increase in May. Meanwhile, The Conference Board Coincident Economic Index (CEI) for Australia, a measure of current economic activity, increased 0.2% in July to 115.6 (2004 = 100), following a 0.3% increase in June, and a 0.2% increase in May. The Conference Board LEI for Australia remains on a rising trend that began in the middle of 2009, and its six-month growth rate has picked up somewhat in recent months.
The Wall Street Reform and Consumer Protection Act has lead to debit card sales volume outstripping credit cards with an ever-widening gap. The Durbin Amendment to Dodd-Frank gave the Fed 9 months to decide on âreasonable and proportionateâ rates for debit card interchange. With this, Some observers are predicting that the Durbin amendment will mean the end of signature debit, arguing that signature owes its dominant market position to the higher revenues it generates for the issuer (at the retailersâ expense, claim merchant coalitions). Reduce the price gap between the two and PIN should become dominant by virtue of its lower incidence of fraud.
CheckAlt Payment Solutions Check 21 service patent-issued technology can act as credit unions’ sole Check 21 provider for those looking to stand clear of corporate services. Despite recent changes made to the validation of check images and data by the Federal Reserve, CheckAlt Payment Solutions’ expertly designed software never missed a beat. Serving as a direct line to the Federal Reserve, CheckAlt remains up-to-date so institutions can rest easy knowing they are saving time and money. Funds are posted in as little as 12 hours and offer the lowest processing fees.
Monthly Payment Rate performance for the month of August was up .25 percentage points after having plummeted to its lowest in over 2 years last month. The August MPR improvement, compared to the year ago figure of 16.96%, is consistent with seasonal patterns and driven by seasonal factors as well as fundamental changes in cardholder payment trends. The slip is thanks in part to limited collection time, coming off the higher number of collections days during the July collection period. Compared to the July figure of 12.86%, MPR was up 0.25% month over month and looked much better then the year ago figure of 16.96%. Historically, the MPR sees a slight uptick in the summer months, as has been the case since the start of the current recovery, a trend lost last year with the onset of the recession. For complete details on current and historical MPR data, visit CardData.com (www.carddata.com).
MONTHLY PAYMENT RATE
Jul 09: 17.12%
Aug 09: 16.96%
Sep 09: 16.59%
Oct 09: 17.77%
Nov 09: 17.66%
Dec 09: 17.23%
Jan 10: 17.15%
Feb 10: 15.95%
Mar 10: 18.79%
Apr 10: 14.61%
May 10: 13.96%
Jun 10: 14.22%
Jul 10: 12.86%
Aug 10: 13.11%
Source: CardData (www.carddata.com)