September 2011 bankruptcy filings were down 4% to 108,517 total filings from the August 2011 figure of 113,432 filings. This figure is down 17% nationwide from the September 2010 figure of 130,329 consumer filings. Meanwhile, U.S. consumer bankruptcy filings totaled 1,044,722 nationwide during the first nine months of 2011 (Jan. 1-Sept. 30), a 10 percent…
eLayaway layaway processor forged a new business relationship with MoneyGram International money transfer company, allowing it to accept cash payments from its members through MoneyGram’s network of more than 35,000 U.S. agent locations. With MoneyGram “ExpressPayment,” eLayaway Members have added convenience and flexibility. It will support both eLayaway’s online and brick and mortar layaway programs and provide the unbanked and underbanked with the ability to fund their eLayaway account using cash, ultimately extending to an untapped market.
Pier 1 Imports has signed a new, long-term private-label credit card agreement with Alliance Data loyalty and marketing solutions. With this, Alliance Data will provide end-to-end private-label credit card services from account acquisition to multichannel marketing and customer service for Pier 1 Imports and is underway as the current private-label credit card program remains in place until full conversion by 2Q/12. Alliance Data expects the program portfolio to be in the $120 million range by the end of 2012.
eMerchantPay online payment processing appointed Bartek van de Pavert VP, International Sales and Travel and Stéphane Panyasiri EVP, Business Development Global Gaming. Bartek brings a wealth of experience and extensive expertise within the travel sector to help expand eMerchantPay’s success in the travel business, most recently from the Paysafecard group having led the group into the travel and e-retail markets with key partnerships in the digital content sector and coordinated several geographies for the company’s international operations. Stéphane Panyasiri combines a full range of international business development and sales expertise with over 10 years in online industries and has managed global business development for major payment solutions such as 123ticket, BilltoMobile and SponsorPay.
Darryl Clukey has joined FSV Payment Systems branded prepaid debit card products and processing services as Senior Vice President, Client Services. Meanwhile, Timothy Leonard has joined the Company as Controller and Matt Frye has been named the company’s Senior Vice President, Product Development. Darryl Clukey was most recent VP, Client Services with AdvancedMD Software while Tim Leonard was most recently CFO of both GMIS Inc. and DBT Online Inc. Frye will focus on fostering strategic partnerships and developing FSV’s next generation of innovative products and services.
Bank Freedom, a wholly owned subsidiary of PrepaYd announced that for the third quarter 2011, cardholder deposits on the company’s prepaid cards were approximately $50,600,000, a 357% increase from the $14,148,000 in the third quarter of 2010. Third quarter 2011 deposits for July were approximately $8,631,000, August was approximately $12,536,000 and September was approximately $29,442,000. Prepaid card deposits demonstrated steady and consistent growth month over month. September 2011 deposits increased approximately 701% from the same month last year. The company believes the steady increase in cardholder deposits is due to the substantial increase in card orders between June and September 2011. The company also recently announced that it completed a $2,000,000 equity raise in July 2011.
MemberClicks websites and membership management software forged partnership agreements with Moolah payment for non-profits. With this, Moolah will provide a full suite of payment processing services that are built around the specific needs of non-profits, from low-cost credit card processing to wireless terminal rentals for events. The partnership benefits include waived setup, discounts on fees and additional incentives for both new and existing MemberClicks customers. Associations and AMCs signed up through MemberClicks will be able to offer these discounted rates to any of their member or client organizations.
Evolution1 electronic payment is participating in the HR Technology Conference & Expo at Mandalay Bay in Las Vegas. Evolution1 serves more than seven million consumers, 50,000 employers, and 400 administrators, health plans and financial institution Partners. It is the only solution that meets up to 1,200 unique plan designs, provides innovative auto-substantiation technologies, simplifies user experiences, and automates workflow for Partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1™, PayDirect®, the Benny® Prepaid Benefits Card, Lighthouse1 OneCard™ and integrated web portals.
Neba implemented its Short Messaging Systems (SMS) Text Messaging Systems for financial institution credit and debit card issuers. A real time fraud alerts component, based upon Falcon fraud analytics system strategies, allows the card issuer expanded risk management capability. With SMS Text Messaging the issuer’s cardholders access near real-time, personalized, relevant credit card account data. The system works with existing digital voice capabilities allowing a card issuer to communicate via SMS Text Messaging, automated outbound voice messaging or other preferred channel.
The majority of consumers faced with monthly debit card fees are likely to either switch payment methods or debit card providers. This, according to SWACHA not-for-profit regional electronic payments association, shows 93% would either use alternative payment methods or switch providers if charged a debit card fee, of which 36% would switch debit card providers, 21% would use credit cards, 20% would pay with cash and 16% would write checks.
SWIFT’s person-to-person payments solution is launching its “SWIFTRemit” platform to address the needs of the global remittance market. Providing a global platform for person-to-person payments, “SWIFTRemit” connects banks, money transfer operators (MTOs) and other types of supervised payment institutions over the highly secure and stable SWIFT network. The service provides the remittance industry with a business and technical framework that includes ISO 20022 message standards, to support cost-effective implementation and scalability for remittance services worldwide. It ultimately allows money transfers in cash and to accounts, cards and checks.
Krung Thai Bank has selected Fiserv for asset/liability, market risk, interest rate risk, foreign exchange risk and daily bank-wide liquidity risk management. Krung Thai Bank chose Fiserv thanks its Risk and Compliance solutions, which help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include Financial Crime Risk Management, Financial Risk Management, Financial Performance Management and Financial Control Solutions. Fiserv is ranked #1 in North America and #4 overall in the annual Chartis RiskTech 100TM.