PayLife completes cards migration to SIX platform

SIX Card Solutions, part of SIX Group and a leading European payment processor, and PayLife cashless payments completed its migration of merchant-related systems and debit cards. The project began in April 2008 after PayLife decided to abandon its long-term proprietary processing platform and assigned SIX with the processing of its debit cards, ATMs and POS terminals. SIX and PayLife started a migration project that included extensive customisation to meet the specific requirements of Austrian cashless payments. SIX’s state-of-the-art acquiring and issuing processing platform has been handling all payments made with Austrian Maestro debit cards and transactions conducted at PayLife POS terminals since October 2011. The phased migration spanned three and a half years and a total effort of 180 person years, highlighting the scale of the project. All cash withdrawals and related transactions through the Austrian ATM network (Bankomat), which includes approximately 7,600 cash machines, were already being processed by SIX since March 2011.

Consumers in All 50 States Reduce Credit Card Debt

Since January, average credit card debt has fallen nearly 10% nationally to $6,503, while all 50 states showed reduced credit card debt. The states that decreased their debt the most include Mississippi, down 16% to $5,362; Alabama, down 14% to $5,750; and Kentucky, New Hampshire, Rhode Island and West Virginia, all down 13% to $6,151, $7,464, $6,090 and $5,956, respectively. Nationally, credit scores remain unchanged from last month at 661, but have fallen five points since January. This, according to CreditKarma, also shows the states that had the highest credit scores in November include California (680), New Jersey (679), Massachusetts (678), and Utah (675). Mississippi (621), South Carolina (635) and Arkansas (635) posted the lowest scores.

NFC phones to hit 80mm in 2012

The number of NFC-enabled phones shipped in 2011 totaled 35 million globally while significant market events will drive that number to nearly 80 million by the end of 2012. This, according to a new report by IMS Research, is driven by such developments as the launch of Google Wallet in the US; the French Government funding NFC in France; Orange planning to sell 500,000 NFC-enabled cellular handsets in France by the end of 2011; and Orange UK and Barclaycard’s “Quick Tap” contactless payment solution.

Payvment Support Twitter m-Shopping

Payvment e-commerce platform, launched a new mobile shopping experience optimized to support Twitter’s new design. Shoppers can now click on a tweet in their stream to learn more about a featured product and immediately purchase it – or click “want” to add the product to their Wish List on their Payvment profile, making it easy to shop and share on the go. With this, Twitter becomes a vehicle for Payvment sellers to promote their products and for shoppers to discover and share them.

TSYS Releases White Paper on M-Payments and Prepaid Services

TSYS completed its ‘M-Payments and Prepaid Poised to Define Financial Institutions’ Delivery of Banking & Payment Services to Rural India’ white paper. Addressing key imperatives that will enable m-payments to fulfill their promise in India, the paper offers insights from TSYS-sponsored market research with Evalueserve, and explores how the untapped market opportunity of m-payments can act as both a significant market opportunity for financial institutions (FIs) and a great equalizer for consumers in rural India. It discusses the key market indicators highlighting the sea change underway in electronic payment transactions, specifically m-payments, such as the promise of frugal innovation as an alternative to expensive infrastructure investments and the high and rapidly rising mobile tele-density.

Western Union Shows Spending Worries Consumers

The Western Union Company global payments research now indicates consumers in the United States, Brazil, the United Kingdom, United Arab Emirates and South Africa disclosed overspending as the No. 1 worry this holiday season. For example, in the U.S., 38 percent worry about overspending, and then eating too much (14 percent), finding the perfect gift (11 percent), seeing family (8 percent), and work commitments (5 percent) are also high on the list. In response, Western Union is announcing its “$50 for $5” promotion, allowing consumers to send up to $50 from participating Agent locations to loved ones in the U.S. for five dollars or send a Western Union gift card,* with a personalized greeting card and voice message.

Multicard Implements Neumann Fuel Card Program

Multicard credential solutions, identity management and system integration services implemented a new fuel card program for Neumann Petroleum. With this, Multicard has rolled out the payment system to 130 locations throughout Queensland and New South Wales, Australia. The credit-based fuel cards are used by long-distance trucking fleets and individual consumers alike and can be used to purchase fuel and other items.Customers will be able to apply for the fuel card online, and once an application is approved, a request is sent automatically from Neumann’s ERP system to the Multicard Bureau Service, where a customized transaction card is personalized for the new customer account and each nominated cardholder and mailed out by Multicard. All transactions are batch uploaded from the POS terminal to Multicard Manager.

Heartland Payment Extends ConocoPhillips Contract

Heartland Payment Systems, one of the nation’s largest payments processors, has signed a five-year contract with ConocoPhillips, whereby it will continue to authorize debit and credit card transactions and will now also begin settling Visa and MasterCard credit card transactions at ConocoPhillips-branded locations nationwide. The expanded card processing agreement is being supported by a new partnership between Heartland and Barclays Bank Delaware, the U.S. operation of Barclaycard, which will be delivering the payment network sponsorship services for the ConocoPhillips transactions.

Consumers Consider mPayments Safer Than Credit Cards

Research now shows 4 out of 5 consumers would spend more online if offered an easier and more secure way to pay while, by a margin of almost 4 to 1, consumers believe direct carrier-billed mobile payments are more secure than using credit and debit cards for online digital purchases. Also, online merchants could add aggregated yearly revenue of $109.8 billion, simply by offering an alternative “no-credit-card-required” way to pay at checkout. This, according to Javelin Strategy & Research and PaymentOne, also shows 4 out of 5 would spend more online if given an easier and more secure payment alternative to credit or debit cards.

Citi Renames U.S. Private Label Cards Unit

Citi announced its U.S. retail credit card products and services division, formerly known as Retail Partner Cards, is being renamed Citi Retail Services. The new name best represents the unit’s industry leading breadth of products and services, including private label credit cards, digital, mobile and loyalty solutions and market insights provided to national and regional partners. Citi Retail Services, which offers the largest retail co-brand and loyalty programs in the country, has been an industry leader for nearly three decades with a portfolio of partners that includes some of the largest and most respected retail, automotive, and fuel brands in the country. Citi Retail Services will rejoin Citicorp effective January 1, 2012 as a business unit within North America Consumer Banking.

Chase Clarifies Checking Account Fees

Chase unveiled a revised summary guide for Chase Total Checking that makes its terms and conditions easier to understand for consumers. Chase collaborated with the Pew Health Group’s Safe Checking in the Electronic Age Project to develop a simple disclosure form that uses everyday words in a consumer-friendly format. Consumers can now more plainly see a description of fees and services, how to avoid certain fees, when deposits are available, and the order in which withdrawals and deposits are processed. Chase also is eliminating account closing fees to simplify and enhance the customer experience.