SBI & NCR

GA-based NCR Corporation has secured the largest order for ATMs seen in
India through the State Bank of India (SBI). SBI has agreed to purchase
3,800 ATMs and a seven-year ATM services contract from NCR. With more
than 15,000 ATMs deployed across the county, including 10,000 NCR ATMs,
SBI has the highest ATM penetration in the country. NCR will undertake
ATM deployment, site implementation services (SIS), second line
maintenance (SLM) and managed services for SBI. The SLM contract extends
to the next seven years, ensuring that SBI ATM’s are available to its
customers at all times. The order includes ATMs equipped with DVSS
(Digital Video Surveillance Systems) to counter fraud.

CORP BANK & ELECTRACARD

ElectraCard Services (ECS) software solutions for electronic payment
systems is deploying Corporation Bank’s tax payment facility through
ATMs, allowing its customers to pay direct tax through their ATMs on
registering for the facility. The Bank’s ATM to pay tax carries out the
PIN verification and fetches the relative tax template details from the
Bank’s server after due authentication. The system then sends the tax
payment transaction with the tax amount entered by the customer and this
amount will be debited to the customer’s account and the tax payment
account will be credited. On completion, the customer will get a receipt
with the transaction details.

JUL VOL

Growth in debit card volume continued to pick up more momentum in July, surging by an annual rate of about 50%, as “Gross Rupee Volume” (GRV) hit 21.0 billion rupees. Meanwhile, credit card GRV is declining at an annual rate of 11%, dipping in July to 49.7 billion rupees, but up somewhat from the prior month. After peaking at 64.4 billion rupees in October, credit card GRV growth has been declining each month, in tandem with the global recession. Debit card GRV previously peaked in October at 19.6 billion rupees, but has rebounded to a record level in July. According to the Reserve Bank of India, the number of credit card transactions rose to 20.2 billion as the number of debit card transactions rose to 14.2 billion in July. At the end of July there were 22.2 million credit cards and 151.1 million debit cards in circulation.

VENTURE INFOTEK & DISCOVER

Venture Infotek Transaction Management and the Diners Club International
business unit of Discover Financial Services have signed a long-term
merchant acquiring agreement. With these agreements, the partnership is
intent on generating more acceptance opportunities for both Diners Club
and Discover cardmembers, for which Venture Infotek will provide single
source electronic payment services. Cardmembers eventually will be able
to use their cards at Venture Infotek merchants in India. Venture
Infotek Global was incorporated in 1997 and pioneered the introduction
of e-Payments in India through what has reached over 165,000 Merchant
locations across India.

JUN VOL

Debit card volume picked up more momentum in June, now growing by an annual rate of 40%, as “Gross Rupee Volume” (GRV) hit 18.1 billion rupees. Meanwhile, credit card GRV is declining at an annual rate of 8%, dipping in June to 48.6 billion rupees, but up slightly from the prior month. After peaking at 64.4 billion rupees in October, credit card GRV has been declining each month, in tandem with the global recession. Debit card GRV also peaked in October at 19.6 billion rupees, but rebounded significantly in May. According to the Reserve Bank of India, the number of credit card transactions rose to 19.1 billion as the number of debit card transactions rose to 12.6 billion in June. At the end of June there were 23 million credit cards and 146 million debit cards in circulation.

TERRAINCARD

A new card design has entered the market that adds a degree of perspective and dimension to card designs that was previously not possible. The new “TerrainCard” Versatile Card Technology can include one or more raised levels with beveled or sloped edges, with elements of the design showing a combined profile of up to .030″ or more above the base surface of the card front. VCT says the first “TerrainCard” project grew out of a collaborative effort between VCT and Stored Value Solutions. The cards hit retail store shelves in June. VCT is the largest U.S. manufacturer of plastic cards. Stored Value Solutions processes 1 billion transactions for 600 clients and their 580 million cardholders annually.

MAY VOL

Debit card volume is now growing by an annual rate of 38%, as “Gross Rupee Volume” (GRV) hit 18.9 billion rupees in May. Meanwhile, credit card GRV has declined at an annual rate of -14%, dipping in May to 48.2 billion rupees. After peaking at 64.4 billion rupees in October, credit card GRV has declined each month, in tandem with the global recession. Debit card GRV also peaked in October at 19.6 billion rupees, but rebounded significantly for the second month in May. According to the Reserve Bank of India, the number of credit card transactions declined 15% in May to 21.5 billion as the number of debit card transactions rose 38% year-on-year to 12.7 billion. At the end of May there were 24 million credit cards and 142 million debit cards in circulation.

BARCLAYS SMS

Barclays Bank is now offering mobile banking to its credit card
customers through SMS. Free of cost to both existing and new credit card
customers, Barclays Bank SMS allows customers to check their outstanding
balance, mini-statement details and payment details of their credit card
by sending text messages. This is in addition to such bank services as
its “Barclays Online Money Transfer,” which was introduced in December
of 2008 to allow customers in the UK to transfer money securely online
directly to any Barclays account anywhere in India. Barclays Global
Retail and Commercial Banking has operations in more than 50 countries
and employs more than 118,000 people to serve customers around the globe
through a network of more than 4,700 distribution points and more than
13,100 ATMs. (CardFlash International 12/5/2008)

CENT KISAN GOLD CARD

Central Bank of India has implemented its latest credit card scheme,
‘Cent Kisan Gold Card,’ supporting people engaged in farming and allied
activities. Offering credit limits of up to Rs 10 lakh for a period of
five years, the “Cent Kisan Gold Card” credits for such asset purchases
as farm equipments, tools, pumps and tractors and offers lending on
housing loans of up to 8%, on crop loans of up to 7% and agricultural
loans up to 8.5%. The bank will also avail consumption loans of up to Rs
50,000 or mortgages of up to Rs 2.5 lakh for people engaged in
farming-allied activities. India e-payments have seen 60% growth since
2005, while the retail epayments market is likely to grow nearly 70%
before 2011 and retail e-payments value should reach US$150 billion to
$180 billion by 2010. India has 130 million payment cards in
circulation, a figure predicted to hit 210 million by 2010. (CardFlash
International 10/08/2008).

YES BANK & FDC

YES BANK, a private sector bank and First Data electronic commerce payment
processing have reached an ATM deployment program MoU. Under the MoU,
the partnership seeks to jointly establish a widespread network of ATMs
across various cities in India, introducing “Convenience ATMs” to the
market and expanding the YES BANK footprint. In doing so, First Data
will leverage ATM capabilities to support YES BANK in identifying new
ATM locations, delivering installation and field management services
with 24×7 monitoring and vendor management, for which the pilot phase is
to begin August 2009 in Mumbai and Delhi. YES BANK currently has 117
fully operational branches and 93 offsite ATMs at 92 locations across
India while First Data securely processes transactions using data-driven
intelligence and insight for 5.3 million merchant locations and
thousands of card issuers in 37 countries.

HELLO INDIA!

Openbravo, a web-based open source Enterprise Resource Planning (ERP) and
Point of Sale solution has launched its “Hello India!” open
source software campaign. Recognized for its innovation in the
information technology sector and interest in Openbravo solutions, to
pave the way for its next stage in growth, India will play host to the
“Hello India!” initiatives, which include a multi-city 360º Business
Tour and Openbravo Training courses. With this development, the open
source software provider hopes to recruit new business partners System
Integrators, ISVs and VARs with knowledge of the mid-market ERP sector
and share knowledge of the growing opportunity in open source
professional products. Venture backed Openbravo is a developer of
professional open source solutions for businesses and has a presence in over
50 countries.

APR VOLUME

Debit card volume is now growing by an annual rate of 45%, as “Gross Rupee Volume” (GRV) hit 17.8 billion rupees in April. Meanwhile, credit card GRV has declined at an annual rate of -12%, dipping in April to 49.3 billion rupees. After peaking at 64.4 billion rupees in October, credit card GRV has declined each month, in tandem with the global recession. Debit card GRV also peaked in October at 19.6 billion rupees, but rebounded significantly in April. According to the Reserve Bank of India, the number of credit card transactions declined 16% in April to 18.5 billion as the number of debit card transactions rose 43% year-on-year to 12.0 billion. At the end of April there were 24.4 million credit cards and 14.1 million debit cards in circulation.