San Diego-based BenSoft reports it has topped 100,000 participants of its “RepayMe.com” automated reimbursement plan software for flexible spending accounts which includes a personalized debit card. RepayMe is the 100% Web-based software solution that provides an integrated real-time debit card option, online participant claim entry, employee self service, employer self service, and a business processing outsource (BPO) option for FSA/HRA/HSA management.
Global Cash Access recently signed 26 gaming establishments for its “Casino Cash Plus 3-in-1 ATM” and “QuikCash” cash advance terminals. The Casino Cash Plus 3-in-1 ATM offers patrons a quick way to access cash through ATM cash withdrawals, point-of-sale (POS) debit card transactions and credit card cash advances with patented 3-in-1 rollover functionality. One of GCA’s most popular ATMs, the Casino Cash Plus 3-in-1 ATM, provides convenience to casino patrons and revenue potential to casino operators. Available in kiosk, countertop, wall-mount, free-standing and handheld models, QuikCash terminals can be installed virtually anywhere in a gaming establishment.
A new study reveals that 22% of the 10.2 million Americans that do not have a bank account have used a credit card in the past three months. The research showed that VISA is the most widely used card among the unbanked and that store credit cards were more popular than Discover or American Express. NY-based Scarborough Research says its study also showed that 46% of these consumers are likely to be ages 18-24, 52% are and more than twice as likely to have an annual household income of $35,000 or less. Additionally, unbanked consumers are also more than twice as likely to be either black or Hispanic. Surveying more than 210,000 adults annually, Scarborough is a joint venture between Arbitron and VNU Media Measurement & Information.
UNBANKED CARD USAGE
American Exp 2%
Source: Scarborough Research
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Tulsa, OK-based EnXnet has filed for international patent protection for its “ThinDisc” technology which will support the upcoming launch of the “MoxyCard” and “SurfCard.” The ThinDisc is the same thickness as a standard credit card, thus it is easily read by existing credit card readers. ThinDisc offers issuers a unique stored value card that has audio and video capabilities to promote products and services. Issuers can now deliver store promotions, product promotions, printable coupons, sales campaigns, specials, services offered and other information about their company when they issue a stored value card. ThinDisc technology significantly multiplies the usefulness of these cards for both issuer and user.
More than 200 marketing executives will gather in Phoenix in mid-April to learn and share marketing and e-commerce best practices specific to the financial services industry. The “Net.Finance 2006” three-day event will discuss synchronizing the multi-channel experience, security and authentication, effective e-commerce strategies and optimizing the online marketing mix. The Net.Finance 2006 agenda also includes the “Customer Acquisition” and “Cross-Selling Summit, dedicated solely to strategies for acquiring qualified leads and increasing the share of wallet, featuring case studies from Wells Fargo, Progressive Direct, Citi Cards, Countrywide Financial, Allstate and Sharebuilder. Lead program sponsors include eStara, Google, Leadfusion, MSN, Passmark Security, TeaLeaf and Yahoo! Search Marketing.
Charge-offs among credit card-backed bonds in the U.K. continued to deteriorate during the fourth quarter, hitting a record 5.8%, compared to 4.5% one-year ago and 5.3% for the prior quarter. Delinquencies remained at 3.4% for the fourth quarter. According to FitchRatings, several trusts experienced an unusually large spike in charge-offs in December, higher than any normal seasonal trend. The rating firm also noted that delinquencies on a monthly basis posted a slight recovery in October followed by a deterioration in November and to a lesser extent in December. Meanwhile, the monthly payment rate on credit card ABS fell significantly in the fourth quarter to 15.9%, compared to 16.9% for the third quarter. This is the lowest level since December 2004. FitchRatings says the MPR appears to have been affected by much reduced balance transfer activity. The Fitch yield index stood at 19.3% at the end of December, down from 19.6% at the end of September.
Cardtronics has partnered with Info Touch Technologies to offer a
hybrid ATM unit which is the result of combining a traditional, cash-
dispensing ATM with a cash-accepting financial services kiosk. A pilot program of the new ATM will be launched in select U.S. markets this spring. The partnership will also enable merchants to offer their customers the
functionality of an ATM and a broad range of other financial services
such as bill payments, wireless phone top-ups, long distance, gift card
purchases, stored value card
dispensing and stored value card reloading, all without requiring any
additional staffing or dedicated floor space beyond what is typically
needed for an ATM. Cardtronics will own and operate the new hybrid
ATMs, with Info Touch providing processing services for all functions
other than cash dispensing.
The Wyoming Bankers Association has signed a five-year marketing agreement endorsing Fifth Third Bank Processing Solutions for EFT services including ATM and debit card processing, terminal driving, network gateway transaction processing and card production to its association members. Fifth Third Bank Processing Solutions processes over 17 billion ATM and POS transactions per year for more than 1,480 financial institutions and over 127,000 retail locations worldwide.
Siemens Business Services has secured a two-year extension to its
current contract to manage the support of Lloyds TSB’s 4,200 ATM
machines located across the country. Siemens provides a dedicated “Incident Management Desk” which provides first line support and contributes to the
reduction in engineering calls to all of Lloyds TSB ATM machines
throughout the country. Siemens Business Services maintains 6,500 of the ATMs in the United Kingdom.
San Diego-based Systech’s “IPG/7000” family of dial-to-IP converters has been certified with Verifone “Ruby” POS systems on the First Data Atlanta (Buypass) payment processing host. The Systech/Verifone/First Data combination provides petroleum retailers with a fast, flexible and secure IP processing platform for electronic payment transactions. Customers requesting Internet SSL connections can be connected through a third-party Secure Payments Gateway (SPG) hosted by EchoSat Communications. Systech Corporation provides design and manufacture of internet payment gateways for electronic transaction markets.