Total outstanding revolving US consumer credit skyrocketed 11.2% in May since the year ago figure. This is up from the April figure of $862.2 billion and compares to the year ago figure of $793.1 billion. However, U.S. credit card performance continues to excel as delinquencies are hitting record lows to an 18-year record low of…
NCR Corporation posted 2Q/12 revenue of $1.41 billion, up 11% from the year ago period and second-quarter income from continuing operations (attributable to NCR) of $67 million. NCR’s Financial Services segment generated second-quarter revenue of $783 million, an increase of 7% from the second quarter of 2011. The NCR Retail Solutions segment generated revenue of…
Kroger prepaid debit cardholders can now enjoy surcharge-free transactions at all ATMs that offer the MoneyPass Network network of over 23,000 ATM locations. Surcharge-free MoneyPass ATM transactions are an extension of U.S. Bank’s extensive financial services relationship with The Kroger Co retailers. In 2010, U.S. Bank and Kroger formed a strategic alliance that offered Kroger customers and associates a suite of payment products and financial services, including reloadable prepaid debit products that offer rewards with every purchase and can be used to shop and pay bills online.
American Express Company announced that Daniel L. Vasella, M.D. has been elected to its Board of Directors. Having served as CEO and executive member of the Board of Directors for 14 years following the merger that created Novartis in 1996, Dr. Vasella was appointed Chairman of Novartis in April 1999. Before the Novartis merger, Dr. Vasella was CEO of Sandoz Pharma Ltd. and a member of the Sandoz Group Executive Committee. From 1988 to 1992, he was with Sandoz Pharmaceuticals Corporation in the United States, prior to which he held a number of medical positions in Switzerland.
Bank of America is deploying its chip technology on many of its consumer credit cards to increase acceptance and security of the cards for international travelers. Also known as EMV (EuroPayMastercard Visa), the cards are embedded with a microprocessor chip that encrypts and stores the account information. The cards also include the traditional magnetic stripe, which is used by U.S. merchants. The bank will include the chip technology in all newly issued Merrill Lynch credit cards, U.S. Trust Accolades, BankAmericard Travel Rewards, BankAmericard Privileges, and Virgin Atlantic travel credit cards. Customers will be able to request the chip card options at the banking center or via phone beginning this week and online later this year.
Citi and Hilton HHonors, the loyalty program for Hilton Worldwide’s 10 distinct hotel brands, introduced the Citi Hilton HHonors Reserve Visa Signature Card. This offers multiple ways to earn HHonors Bonus points on everyday purchases and an annual weekend night certificate good at over 3,800 hotels and resorts within the Hilton Worldwide portfolio. Consumers can apply for the new Citi Hilton HHonors Reserve Card online at www.hiltonreserve.com, for an annual fee of $95 and privileges including: Weekend Night Certificates for Stays at Thousands of Hotels in the Hilton Worldwide Portfolio; Two weekend night certificates after spending $2,500 in purchases within the first four months of cardmembership; Anniversary bonus of one weekend night certificate each year after $10,000 in annual purchase spend; and Ten HHonors Bonus Points for every $1 spent on hotels stays within the Hilton Worldwide portfolio of brands, in addition to base points normally earned for stays.
Schedulicity online scheduling for appointment-dependent SMBs, announced the availability of Reliability+, a new feature offering businesses the ability to request a credit card hold from clients when booking high-value services, classes or workshops, eliminating loss of income from unattended appointments. Reliability+ stores credit card information according to PCI-DSS, providing security and privacy of payment information for businesses and their clients.
TransCard added Richard Anderson as Chief Financial Officer, rounding out TransCard’s executive leadership team. As CFO, Anderson is responsible for helping to shape the strategic direction of the company. He is also responsible for all financial analysis, forecasting, reporting, investor’ communications, and risk management. Anderson was president and CEO of Shoreline Business Solutions, Inc., a leading provider of payment card personalization and fulfillment services to community banks and credit unions. Anderson has more than 25 years’ experience working with middle-market, entrepreneurial companies as an accounting, financial, and operational advisor. TransCard continues to identify talent that profiles excellence and has quickly become one of the fastest growing technology companies in Tennessee.
Onebip mobile payment business unit of global mobile commerce company Neomobile, launched its single-click purchase feature for its Onebip Mobile Browser. Brands, mobile companies and digital and online merchants can now use Onebip’s new one-click feature to provide the simplest, smoothest and most intuitive way possible to make a payment on a mobile device. The new one-click feature means that mobile consumers worldwide can purchase digital content and services – such as music and video downloads, virtual currency, media subscriptions and games – via the browser on their mobile device, with just a single click of the Onebip icon. Onebip uses an encrypted identification process to immediately recognize the user’s phone number, which provides a secure, automatic authentication so that the user does not have to input any credentials such as a password or PIN. The user only needs to click once on the Onebip icon to confirm their transaction: no further actions are needed.
Etisalat has upgraded its PCI DSS certification for the Etisalat Payment Gateway. Etisalat’s Payment Gateway infrastructure was assessed by Paladion, the Qualified Security Assessor (QSA), recognized by PCI Security Standard Council. Paladion certified Etisalat’s compliance with PCI-DSS V2.0 as a payment service provider. Etisalat Payment Gateway is one of the first eCommerce Payment Service Providers in the region to have acquired PCI-DSS 2.0. Paladion worked closely with Etisalat to implement practical and cost effective solutions and processes to ensure 100 per cent compliance to the standard. This achievement clearly distinguishes Etisalat from its competitors and ensures the organization remains the best payment services option for its customers and end-users.
Cardtronics announced its United Kingdom subsidiary, Bank Machine, has made Shell U.K. service stations the newest additions to the company’s roster of premier retail locations. By the end of 2012 Bank Machine will install, own and operate more than 600 free-to-use ATMs at Shell U.K. company-owned sites. All Shell U.K. company-owned sites supported by Bank Machine will receive ATMs outfitted in Shell colors, and complete with on-screen marketing and receipt couponing functionality. Upon completion of the ATM installation project, Bank Machine will have consolidated multiple ATM services relationships for Shell U.K. Additionally, all Bank Machine-owned, Shell U.K.-located ATMs will be folded into Allpoint Network and its ATM locator immediately upon installation.
White Eagle deployed its photo ID, proof of age, combined with VISA Prepaid / e-wallet functionally with CitizenCard Limited. The Visa Prepaid CitizenCard offers a re-loadable prepaid card with chip and PIN security which can also be used for instant card to card payments to anyone else with a CitizenCard. The White Eagle platform allows the users of their card to manage their account 24/7 online, by SMS or IVR. The Visa Prepaid CitizenCard will be highly competitiveetitive as a standalone prepaid card, with the added benefits of being a proof of age and ID card, as well as cardholders being able to receive LEALTA discounts at over 20,000 local and national retailers across the UK.