Discover Financial Services and the National Hockey League (NHL) have inked sponsorship partner agreements naming Discover as an Official Partner of the NHL in the U.S. The sponsorship also designates Discover as the Official Card of the NHL, NHL All-Star Weekend, NHL Winter Classic, NHL Awards, and the NHL Entry Draft. This ultimately gives Discover extended opportunities to engage with U.S. hockey fans nationwide and develop exclusive hockey-themed rewards opportunities and experiences across various NHL special events. Not only will this offer Discover cardmembers “Cashback Bonus” reward redemption for discounts to Shop.NHL.com and the NHL Powered by Reebok store in New York City, GameCenter Live subscriptions, autographed NHL merchandise, and more, also one lucky Discover cardmember will have the opportunity to spend a personal day with the Stanley Cup.
The Business Services sector has seen some recovery in Q3 due to an uptick in demand for financial solutions, processing services, and person to person payment systems. After reining in spending during the recession, many financial institutions are starting to expand their budgets. Some of this spending is anticipated to go towards IT which should benefit some companies within the Business Services sector. While this increase in spending is a good sign for the entire sector, weakness in check processing and lending solutions offset some of the sector’s Q3 growth.The payment services and credit card segment of the Business Services sector has experienced a slight recovery as well. After decreased consumer spending limited transaction revenues during the recession, companies are beginning to see an uptick in credit and debit card spending. Emerging markets have been the primary source of strength as burgeoning middle classes around the world begin to shift toward using cards to pay for goods and services instead of cash. Register now at https://stockcall.com/development/stockcall/page.php?name=register.html to have free access to our reports on the business services industry.
Credit card chargeoffs stay on the wrong side of the 10% threshold while delinquencies improved for the ninth straight month. Late stage delinquencies decreased by 6 bps to 3.5% and early stage delinquencies were also down by 1 bps to 4.61%. This, according to the latest Credit Card Index results from Fitch Ratings, also indicated monthly payment rate (MPR) performance continues stability, but slowed slightly in September for a small decrease of 15 bps to 19.65%. MPR still represented a 9% increase compared to the year ago period and is at the third highest level since the beginning of 2008. According to CardData.com, the credit card charge off rate took a steep nosedive from 10.03 in August to 8.9% after having skyrocketed to 10.93% in March of 2010, after having soaring past the 6% mark in December of 2008, the 8% mark that following spring, and finally the 10% mark in September of ’09. This comes as a relief to rampant fear last year credit card-backed securities would realistically near 12% by this time. Also, average charge-offs for the first quarter were an unprecedented 10.93%. Charge-offs are expected to continue declining into 1H/11, thanks to credit card issuers having already written off balances from borrowers with weak credit over the past couple of years and tightening underwriting standards. For complete details on credit card charge-offs visit Carddata.com (www.carddata.com).
PaymentVision and PayNearMe have teamed to make paying for remote transactions with cash as convenient as stopping by a local 7-ElevenÂ® store. The PaymentVision and PayNearMe solution provides consumers with a method of payment that is simpler to use and often far less expensive than current payment alternatives, such as pre-paid debit cards, walk-up bill pay or money orders sent by mail. With PaymentVisionâs universal ACH (electronic checks) and credit card gateway incorporating PayNearMeâs cash-payment technology and the ubiquity of 7-Elevenâs nationwide, billers, financial institutions, commercial customers and municipalities can now better accommodate cash consumers.
American Express OPEN, the small business division of the financial services company, recognized three small business owners. Award winners present at the event are being recognized in the categories of Government Contractor of the Year, Woman Contractor of the Year and Teaming Contractor of the Year. Nominees for the VIP awards were selected in collaboration with partners, Business Matchmaking (www.businessmatchmaking.com), Women Impacting Public Policy (WIPP) (www.giveme5.com) and SCORE “Counselors to America’s Small Business” (www.score.org). The winners are Contractor of the Year awarded to Jennifer Bisceglie of McLean; Woman Contractor of the Year awarded to Charlene Turczyn of Springfield, IL-based CMW and Associates Corporation, a federal consulting firm providing professional services to the federal government in the form of information technology, construction management and e-learnings. Revenues from government contracting in 2010 are estimated at $5.9 million; and Teaming Contractor of the Year awarded to Judy Sheppard of Vienna, WV-based Professional Services of America.
Mint prepaid card products with Carta have completed the non-brokered private placement of 1,600,000 units to Carta Solutions S.A. for proceeds of $200,000. Each unit consisted of one common share and three-quarters of a common share purchase warrant. This private placement was announced on October 5, 2010. Carta had previously invested $550,000 on July 6, 2010 comprising 4,400,000 units consisting of one common share and a half of a common share purchase warrant. In both placements each whole common share purchase warrant is exercisable for $0.15 until April 30, 2012. In addition, Mint also announced today that it has borrowed $500,000 from Carta Worldwide Inc. for working capital purposes. The loan is repayable in 12 equal monthly installments of principal and interest at 10% per annum. Carta Worldwide Inc. is a subsidiary of Carta Solutions S.A.
Keynote Systems Internet and mobile cloud monitoring has launched its “MITE 2” (Mobile Internet Testing Environment) for automated testing and verification of mobile content. This lets mobile content developers test and verify mobile Web content using a built-in library of 1,800 devices and 11,000 devices profiles for free download at mite.keynote.com. Also, “MITE” offers many useful features and functionality that allows mobile content owners, providers and QA professionals to quickly see how well Web sites, content, and applications perform from an end-user’s perspective. With this, an embedded WebKit browser engine lets users interact with any mobile Web site and get the most accurate end user perspective; customize the device library to expand upon the 11,000 profiles that come standard in MITE; automate mobile content testing; and verify that a mobile Web site is optimized for a given device using a score and actionable recommendations.
Global Cash Access cash access solutions and data intelligence for the gaming industry will be showcasing its recent innovations in marketing technology and cash access products at Booths #2221 and #2719 at this yearâs Global Gaming Expo (G2E), being held at the Las Vegas Convention Center from November 16-18. The Company will demonstrate its proprietary marketing and business intelligence tool, Casino Share Intelligence (CSI), which is a Web-based data analysis platform providing fast, detailed access to âshareâ trends in a subscriberâs market through a secure internet dashboard.
The PCI Security Standards Council released the latest version of its compliance standards. Ground Labs subsequently announced the release of Enterprise Recon, a PCI compliance software solution designed to search for the existence of unencrypted cardholder data storage and enable organizations to become compliant with the new PCI DSS v2.0. Payment card schemes and their member financial institutions are placing increased pressure upon corporations of all sizes to improve their cardholder data storage practices and protect consumers from fraud by achieving and maintaining PCI compliance. This newest PCI software solution, Enterprise Recon, is designed to help organizations reduce the likelihood of cardholder data breaches and achieve compliance with the recently revised Data Security Standard, PCI DSS v2.0.
EmbroidMe offers a large variety of personalized gifts which will continue to cultivate goodwill long after the holiday season is over. This facilitates selecting items that are in line with the corporate culture and budget from an assortment of more than 800,000 promotional products. EmbroidMe also carries greeting cards that can be personalized with the company name and logo to get the right message across. Some popular gift choices for clients include personalized desk sets, gift baskets, calendars, mugs filled with goodies, picture frames, sports blankets and personalized apparel.
GuestLogix onboard store technology to airlines has introduced its “OnTouch Concierge,” integrating smartphone usage with onboard retailing. The mobile application enables airlines to provide their customers with access to their Branded Onboard Stores through their smartphones, offering airlines an additional revenue stream. GuestLogix’ onboard store technology and merchandising platform provides passengers with the ability to purchase onboard travel-relevant, destination based products and services that can be consumed in-flight or fulfilled elsewhere to enhance any itinerary. Before flying, travellers are provided the option of loading currency into their application by accessing an internet payment service, obtaining a credit card pre-authorization, using their financial institution, and/or visiting an airport currency exchange operator. Products and services made available for purchase on the chosen airline’s Branded Onboard Store can include transportation to and from the airport; local entertainment and attractions; catalogue sales with convenient delivery; inexpensive communication options to stay connected; other destination offerings; and, of course, items consumed or used onboard such as meals, snacks, beverages, in-flight entertainment, and comfort items.
American Express has introduced its “Small Business Saturday” national movement concept to support the nearly 28 million small businesses in the United States that create jobs, created 65% of net new jobs over the past 20 year, and boost the economy and preserve neighborhoods around the country. To drive shoppers to local merchants across the U.S., which return $68 to the community through taxes, payroll and other expenditures for every $100 spent at their independent stores, the American Express OPEN small business unit has declared the Saturday after Thanksgiving the designated “Small Business Saturday.” Composed of an initial group of more than a dozen advocacy, public and private organizations, national “Small Business Saturday” membership includes The 3/50 Project; Business Matchmaking; Chicago Convention & Tourism Bureau; Count Me In for Women’s Economic Independence; Destination DC; eWomenNetwork; Facebook; Girls Inc.; Greater Boston Convention and Visitors Bureau; LA INC.; The Los Angeles Convention and Visitors Bureau; National Trust for Historic Preservationâs Main Street Center; National Association of Women Business Owners; New York City Department of Small Business Services; NYC & Company; San Francisco Convention & Visitors Bureau; SCORE: Counselors to Americas Small Businesses; Womenâs Leadership Exchange; Women Impacting Public Policy; Women Presidentâs Organization; and Yelp!.