The Conference Board Leading Economic Index (LEI) for the U.S. was up for the third consecutive month in July by 0.5% to now sit at 115.8 (2004 = 100), after a 0.3 % increase in June and a 0.7% increase in May. This was mostly thanks to increased money supply, interest rate spread, and average…
American Express, Mercedes-Benz Financial Services USA LLC and Mercedes-Benz USA partnered to introduce two co-brand Cards designed for Mercedes-Benz drivers and enthusiasts. They include the “Mercedes-Benz Credit Card from American Express” and the “Platinum Card from American Express Exclusively for Mercedes-Benz.” The Cards combine the Membership Rewards program from American Express and exclusive annual benefits…
American Express Global Business Travel launched its “Mobile Communications Management (MCM),” a dynamic, visual traveler tracking and integrated two-way messaging solution. This is designed to assist companies in promptly locating employee travelers and communicating to them on the spot to offer direct assistance in times of travel disruption. The “MCM” continuously monitors major travel disruptions such as weather systems, strikes or other events to help with contingency planning before events take place and ultimately receives key traveler trip information, which then populate on the user’s visual with continuous updates. Additionally, “MOBILEXTEND,” launched by American Express Global Business Travel last year, provides travelers support and relevant information based on a traveler’s destination while on-trip including maps, currency conversions, tips on preferred ground transportation and negotiated hotel amenities and other useful information.
Chase Card Services enhanced its “Chase Sapphire Preferred” premier affluent rewards card, giving cardmembers two points per dollar spent on travel and dining purchases in addition to existing benefits, including no foreign transaction fees and dedicated, immediate customer service. The card now offers two points per dollar on travel purchases; two points per dollar on dining purchases; no foreign transaction fees on purchases outside the United States; dedicated customer service; 20% fewer points to redeem for travel through Ultimate Rewards; the ability to redeem points at leading hotels and airlines at a 1:1 Ultimate Rewards Points to Partner Points/Miles value; and the ability to collect 7 percent Annual Points Dividend each calendar year, even on points already redeemed.
The organizers of a national boycott against Bank of America Corp, that has been ongoing since February of 2007 in response to BofA’s plan to offer credit cards to illegal aliens, has offered to end the boycott if BofA will end the credit card program. Over 132,000 Americans have signed the boycott online petition found at http://www.bankofamericaboycott.com/ to “demand that all companies and corporations operating within the territory of the USA cease and desist any financial or political support for illegal aliens.” It is a violation of federal law to aid and abet illegal aliens inside the United States and numerous certified polls show that over 80% of Americans oppose benefits knowingly offered to illegal aliens. Reportedly, Bank of America is experiencing financial woes and the group is offering to publicly drop the boycott efforts if the bank will publicly ends their program designed to issue credit cards and mortgages to illegal immigrants.
Dynamics next-generation payment cards purchased a state-of-the art facility in the Pittsburgh, PA region to serve as its new world headquarters. Dynamics worked closely with the Regional Industrial Development Corporation of Southwestern Pennsylvania (RIDC) to purchase the facility, which will house Dynamics’ administrative, engineering, manufacturing, secure payment card personalization, and R&D departments. Dynamics is currently in the process of moving its proprietary high-volume production equipment into the approximately 115,000 square foot facility, of which nearly 100,000 square feet is conditioned “clean room” engineering and manufacturing space.
Palisade Systems Data Loss Prevention (DLP) solutions for mid-size businesses introduced its “PacketSure” SaaS DLP low-cost Software as a Service (SaaS) solution. The “PacketSure” SaaS DLP offers complete DLP functionality to end-users of all sizes and industries and is available exclusively through Managed Service Providers (MSPs). All healthcare and financial services firms are held to the same regulatory compliance issues, regardless of size or available resources. To make full DLP more accessible to a broader market, Palisade has delivered PacketSure SaaS DLP, providing virtual images of their full PacketSure DLP solution available for MSPs to turn on in their data centers for client use.
VSoft Corporation announced SELCO Community Credit Union selected its check processing solutions, citing the flexibility of its full suite of RDC products. SELCO is implementing back office services with VSoft’s “VServe” global data center, which delivers the solutions as either an ASP or a hosted model. Long-term, the credit union plans to operate check processing functions in-house. With “VServe,” SELCO can expect a smooth transition when it is ready to bring check processing in-house because it will maintain the exact VSoft products. It provides an outsourcing alternative that each can manage directly, easing the transition to RDC.
Spansion NOR Flash memory appointed Jay Legenhausen SVP, worldwide sales. Bringing with him over 20 years’ experience in the semiconductor industry, Legenhausen will oversee distribution, direct sales to OEMS and the field application engineering organization. He most recently managed worldwide sales for Actel/Microsemi for rapid design win and revenue growth for new products after having spent 17 years working at Cypress Semiconductor in various sales and marketing positions.
S1 Corporation payments and financial services software solutions has filed with the SEC and will commence mailing of definitive proxy materials for its Stockholders’ meeting to vote on proposals related to the combination of S1 Corporation and Fundtech. Included in the proxy materials is a letter to S1 stockholders outlining the significant value creation opportunities for S1 stockholders as a result of the continued execution of S1’s long-term strategic plan, which includes the business combination with Fundtech. In it, S1 highlights that the S1/Fundtech combination is expected to enhance S1’s results of operations; offers the potential for significant stock price appreciation; and is a strategic transaction designed to create a formidable market competitor.
4G chipmaker Sequans Communications has entered into an exclusive licensing agreement with NetComm to supply an advanced semiconductor solution for TD-LTE connectivity. NetComm selected Sequans to provide the TDD-LTE semiconductor technology required for the development of LTE access devices designed to support the rise in LTE TDD operator trials, commitments and deployments. Subsequently, Sequans’ technology will be used in the LTE devices built by NetComm for Australia’s National Broadband Network, as recently announced by NetComm.
The PCI Security Standards Council open industry standards body and manager of PCI DSS, officially hosts more than 100 European companies as PCI Participating Organizations. The Council is made up of more than 600 global Participating Organizations (POs) worldwide. Continual global involvement not only benefits stakeholder organizations but also the larger payment security community, by ensuring the diverse and unique industry and geographic perspectives of those across the payment chain are represented in the work of the Council. European participation – including merchants, financial institutions and processors from around the continent – has been a key factor in the Council’s analysis and guidance on technologies in the payment environment, such as call center recording technologies and EMV, as well as the development of critical resources like the Prioritized Approach framework.