With late payments and defaults nearing five- and three-year lows, credit card payment performance is hitting a fever pitch. Charge-offs are down nine basis points in September to 6.32% from 6.41% in August, dropping 5 of the past 6 months. Although 6% has been the average COF rate since the inception of the Fitch index…
Georgia-based LGE Community Credit Union launched its ‘Design Your Own Card’ card customization service through the Serverside Group. The card program is currently available on personal Visa debit and credit cards although will soon be rolled out to the credit union’s business accounts. LGE Credit Union has marketed the card program through multiple channels, from in-branch and out-in-the-field to brochures, email and online, which allows customers to personalize their payment cards with their own electronic photo image or to choose from a preselected image database.
USA Technologies cashless payment and M2M telemetry solutions for self-serve, small ticket retail industries, has been named to Deloitte 2011 Technology FAST 500 list of the fastest growing technology companies in North America. USA Technologies ranked 22 in the Greater Philadelphia area and 480 in North America based on percentage fiscal-year revenue growth during the period from 2006 to 2010. USA Technologies ranked 5th among the leading POS shippers in the United States and 19th in the world in 2010.
Apple Federal Credit Union signed a contract extension for credit card servicing from PSCU Financial Services through 2014. The credit union has $1.4 billion in assets, 120,000 members and has been a member of the CUSO since 1987. The credit union’s portfolio of 24,000 accounts represents $60 million in outstandings. It is leveraging “AdvisorsPlus” experts to design promotional campaigns and has placed responsibility for the credit card program with one management team member. PSCU Financial Services serves more than 1,500 financial institutions, representing 16 million credit, debit, prepaid, electronic banking and online bill payment accounts.
Collective POS Solutions is pleased to announce the launch of its Payment Processing Articles article series to offer consumers a deeper knowledge of the issues and opportunities surrounding payment processing. The company has begun creating a library of original content that will act as a reference for both current and future Collective POS customers. These articles will include business tips and advice, industry news and trends and other useful information that business owners can put to use every day to positively impact their operations.
BMO Bank of Montreal announced the grand opening of its new full-service branch in Vancouver’s Oakridge Center on October 22nd. The new branch is outfitted with a free coin counter; mechanized safety deposit boxes; access to commercial account and deposit services; two ATMs; and barrier-free access.
Xpress Money instant money transfer service has partnered with KwartaGram super agent. Bringing to Xpress Money 180+ flagship locations plus more than 800 sub agent locations operating under them, KwartaGram will ultimately offer Xpress Money’s services from most of its locations in the coming months. Xpress Money is a UK based instant money transfer brand with a thriving presence in more than 95 countries in 5 continents across 85,000 agent locations worldwide. KwartaGram is a trusted money transfer provider that has operated since 2004 and has been one of the fastest growing operator in 2011.
OrderDynamics can now deliver Level 1 PCI compliant solutions thanks to its core platform integration with Hosted PCI. Combining Payment Vault Tokenization technology with the OrderDynamics On-Demand eCommerce Platform, this offers retailers worry-free PCI compliance without compromising front-end flexibility, or backend integration options. OrderDynamics’ merchants will also benefit from 100% credit card breach indemnity as no sensitive card holder data ever enters the merchants environment.
Jacques Erasmus has been appointed chief information security officer with the Webroot Internet security service company. Bringing with him more than a decade of technical expertise, including nine years leading malware detection efforts at Webroot and Prevx, which was acquired by Webroot in 2010, Erasmus has led incident response and PCI-DSS activities for many large companies worldwide and discovered a number of high-profile threats and breaches. His studies in behavior-based threat protection and cloud-based technology systems provide a key source of input across product development and threat research.
Gemalto digital security indicates its 3Q/11 Mobile Communication, Machine-to-Machine, Secure Transactions, and Security business segments represent nearly 100% of its revenue. The Machine-to-Machine segment includes mainly the activity of Cinterion, which was acquired in July 2010 and consolidated as of August 1st 2010. Gemalto revenue for the main segments was up by 7% year-on-year at…
Ðiauliø bankas has joined the joint ATM network of Ûkio bankas, “Citadele” bankas, Nordea and Danske banks. With this, forty ATMs of Ðiauliø bankas will be connected to the joint network of automated teller machines. It is the fourth ATM network in Lithuania by size which soon will cover 270 ATMs in forty seven towns of the country. The network is managed and administrated by the provider of electronic commerce and payment solutions “First Data Lietuva”. The cooperation of banks in this project enables not only improving the accessibility and quality of cash withdrawal by optimal location of ATMs but also assists in rational management of network development costs.
Vivonet is being recognized as one of the top 50 Canadian companies on Deloitte’s Technology Fast 50 for making world-class achievements and evolving the Canadian technology sector. Vivonet is ranked 43 in Canada for the 2011 Fast 50 and 243 in North America on the Technology Fast 500 list, the rating is based on five successive years of growth. Vivonet is well known for “reinventing the cash register” with its innovative, web-based point of sale (POS) software Halo(TM) revolutionizing retail transaction data management in the North American restaurant industry. Over the last five years, Vivonet has experienced 365 per cent growth with over $110 million in customer transactions per month.