Core credit card interest rates have remained pretty consistent throughout 2011. At the start of the recession average credit card APRs hovered around 16% and dropping to a rock bottom 12.64% back in 2010. Over the past 8 months since the beginning of the year, however, rates increased and plateaued to sit at 14.88% for…
Chase Card Services launched the promotion allowing cardmembers who use their British Airways Visa card at any NYC MICHELIN Guide 2011 star-rated restaurant will receive a $50 statement credit. Cardmembers who use their British Airways Visa card at a second NYC MICHELIN Guide 2011 star-rated restaurant will receive an additional $50 statement credit. Cardmembers will also have access to a private dining consultant and may receive complimentary VIP treatment at select restaurant locations. MICHELIN Guide, the most renowned restaurant selection in the world, is participating in this exclusive program to offer British Airways Visa cardmembers the best-rated dining in New York City.
VeriFone Systems announced that an independent evaluation by Coalfire Systems IT audit and compliance firm, has validated the security compliance of VeriFone’s “PAYware” Mobile Enterprise solution for enabling smartphones, PDA’s and tablets to securely accept payments. The PCI Qualified Security Assessor (QSA) and PCI Qualified Payment Application Security Assessor determined “PAYware Mobile Enterprise” application does not capture, store, process or transmit cardholder data as part of authorization or settlement, and thus “is not within scope of PA-DSS.” Apps which don’t store, process, or transmit cardholder data do not fall under the PA-DSS program. Coalfire determined that VeriFone’s mobile payment solution complies with Visa Best Practices for Mobile Payment Acceptance Solutions v 1.0.
With banks increasingly focusing on consumer mobile banking adoption, research is now showing large retailers may have a more significant impact on mobile payments adoption. Given 79% use their phone to check their balance, 40% conduct online bill payment from their phones, although security is a concern for users across all age groups with 50% very or somewhat uncomfortable with the idea of making purchases with a mobile phone. These findings, according to Auriemma Consulting Group (ACG), also shows the most likely place they would expect to use mobile payments would be in-person at a large retailer, but only 20% would use it to pay a parking meter.
Buffalo-based HSBC completed agreement to sell 195 retail branches to Buffalo-based First Niagara Bank for a consideration equal to a premium of 6.67% of the deposits to be transferred on closing, roughly $1.0billion. HSBC Bank USA remains committed to serving and further developing corporate banking relationships in Upstate New York and continue to provide a full suite of international commercial banking offerings, including trade and cash management products and services through its four business centres in the region. The all-cash transaction is expected to close in early 2012.
eServGlobal introduced a new connection for the HomeSend remittance service between its strategic business partner BICS and Smart Communications, Philippine-based mobile network operator. Smart Communications has over 45 million subscribers in the Philippines and a strong track record in providing domestic mobile money services. Through HomeSend, Smart Communications will be able to offer remittance services to their mobile money users. The Philippines receives over US$20 Billion in international remittance reach year and is one the top remittance receiving countries in the world. For example, in 2010, Qatar and the United Kingdom sent over US$500 million each in remittances to the Philippines.
Les Thwaites has been appointed The Cheque and Credit Clearing Company (C&CCC) Chairman. Having worked for the Co-operative Bank since 1972, where he was involved in all elements of check processing and the management of the check processing operation. He has also served as a Director on the C&CCC Board and is consequently well aware of the current issues including the pressure to improve the cheque product to satisfy customer requirements and meet the wider demands for increased industry efficiency.
Citi and JCB International (JCBI) extended their partnership, adding JCB credit card merchants in nine countries and territories throughout Asia. The agreement covers JCB acceptance in all of Citibank’s acquiring markets in the region, enabling the bank’s merchant base, both physical and ecommerce, to accept JCB cards across the region. Citibank, the global retail and consumer banking business of Citi, will phase in JCB card acceptance for purchases at Citibank merchants in Hong Kong, Vietnam, Thailand, Philippines, Malaysia and Indonesia, together with expanding the existing relationships in Singapore, Taiwan and Guam.
The Bunker delivers ultra secure Managed Hosting, Cloud Computing, Colocation, and Outsourced IT from within Europe’s most secure data centers, and is pleased to announce a partnership to offer CNS’s “COMPLIANCEngine” and payment card industry (PCI QSA) compliance services alongside The Bunker’s ultra-secure data centers. The partnership will enable both companies to offer a range of complimentary services ranging from consultancy and network-auditing processes, accreditation to QSA, CESG, CHECK and CLAS standards, through to colocation, managed hosting and cloud computing in ultra secure, ex-military nuclear bunker data centers. The “COMPLIANCEngine” managed service was built in response to the increasing levels of IT compliance regulation across all industries.
Xpress Money expanded its operations to 95 countries in 5 continents with its 85,000 agent locations. With Thailand having received more than $1.8bn in remittances in 2010, Xpress Money signed Government Savings Bank and Krung Thai Bank, which together have a spread of over 1000 locations across the country. Subsequently, Xpress Money will tap this booming remittance market, which shows $325bn dollars were sent in 2010 to developing countries. Moreover, this figure is projected to hit $404bn in 2013.
BestHotelOnline.com launched its “BHO Rewards “free reward program, giving customers BHO points every time they book a hotel on their website and allowing them redeem points for gift vouchers or up to 8% cash back! The “BHO rewards” lets cardholders earn points at over 125,000 hotels worldwide, but not limited to a single hotel brand. Customers can earn 5 BHO points for every Hong Kong dollar spent on hotels book through BestHotelOnline.com. To celebrate the launch of BHO Rewards, customers will earn double BHO Points for staying at any “Best Buy” hotels booked between now until 15 October 2011.
Epicor Software Corporation is set to further expand its channel in Qatar, taking advantage of aggressive IT expenditure in the country that is expected to sustain a compound annual growth rate (CAGR) of 10% from 2011-2015. Epicor Software Corporation (recently combined with Activant Solutions Inc.) is a global provider of POS business software solutions to the manufacturing, distribution, retail and services industries. With nearly 40 years of experience serving midmarket organizations and divisions of Global 1000 companies, Epicor has more than 33,000 customers in over 150 countries.