PayPal launched PassPort to educate and empower small businesses with free tools to expand their global sales. This provides country-specific guidance on seasonal sales peaks, including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees; and customs procedures and taxes.Becoming a global retailer means looking beyond Valentine’s Day, Mother’s Day and Black Friday as peak selling days and addressing country-specific sales opportunities. Businesses using PassPort will gain insight into the traditions, trends and taboos surrounding Singles Day – the November 11 Chinese holiday that dwarfs Black Friday in ecommerce revenue and is “expected to easily exceed US$10 billion” this year, according to a USDA report. Information on additional top global retail holidays – like Golden Week in Japan and Click Frenzy in Australia – will prepare businesses to expand their sales and reach more potential customers.
TransCentra announced that it has been selected by North American Power, one of the nation’s fastest-growing retail energy suppliers, to manage its billing and payments processing. The end-to-end, multichannel billing and payments processing solution will integrate services across the business, enabling North American Power to simplify and enhance billing and payment communication methods for more than 250,000 customers, while driving operational efficiencies. With operations currently in 11 markets, North American Power sought a solution that would transform its billing and payments model, meet regulatory compliance requirements in new markets, and provide the tools to address customer needs quickly and efficiently. TransCentra’s payment processing services include paper and electronic lockbox service, payment data management, A/R file consolidation and generation, and more.
Computer Services, a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, released its new Personal Financial Management (PFM) service for its Internet banking customers. The PFM service delivers consumers a one-stop online location to manage all of their personal finances and accounts within their bank’s Internet banking application.…
Jack Henry & Associates payment processing services to the financial services industry announced its “JHA Payment Processing Solutions” division added 20 credit unions to its client roster during fiscal year 2011. Nineteen of these credit unions elected to replace a competitive ATM, debit, and credit card processing solution with a PPS solution and one launched a new card program. JHA Payment Processing Solutions provides payment solutions to the financial industry including ATM, debit, and credit card solutions. These innovative solutions include one of the largest switch processors in the United States, access to one of the credit union industry’s largest surcharge-free ATM networks, online real-time transaction authorization and processing, signature and PIN-based processing, in-house and outsourced fraud prevention and detection solutions, cardholder awards programs, card program management and profitability solutions, card manufacturing and personalization, instant issue and activation, marketing materials and programs, and renowned customer service.
American Express OPEN announced FedEx Freight, Microsoft Store and Dunn & Bradstreet Credibility have the OPEN Savings program as partners. As partners, they will save 5% on all freight services; 5% on purchases made at www.microsoftstore.com and Microsoft Store retail locations; 5% on all transactions with the company, including generating D-U-N-S numbers and credit monitoring services at DandB.com. American Express OPEN Cardmembers just use their credit or charge card for purchases with any OPEN Savings partner to take advantage of discounts, which automatically appear on the monthly statement.
According to the Chase Blueprint-Parents Survey, 62% of moms feel that raising a child is more expensive than they had expected, and are subsequently taking a proactive approach to saving money and managing their spending each month like couponing (98%), stocking up on sale items (74%) and managing their credit cards (64%). Chase Blueprint conducted the survey with Parents and American Baby to better understand how moms are approaching key personal finance decisions related to planning for and raising a child. Chase Blueprint is available for free on many Chase credit cards and can help design plans to manage the necessary purchases that arise. This is a critical life stage for families that requires extensive planning and when it comes to money, is important to get right. Ninety-five percent have cut back on spending for themselves and their partners since having children, including 52 percent who have made drastic cutbacks in their personal spending. Among those moms who feel raising a child is more expensive than expected, 61 percent made drastic cuts to their personal spending as a way to counter balance those extra expenses.
Radiant Systems unveiled CPMobile new mobile software platform for retailers. Fully-integrated with Radiant Retail’s POS, inventory management and e-mail marketing technology, CPMobile’s initial component is a mobile POS checkout and customer service application that will run on the Apple iPod Touch and iPhone platforms. It will be widely available this summer. CPMobile will integrate with a retailer’s existing CounterPoint system to facilitate intuitive, user-friendly and secure mobile checkout capabilities for businesses of all sizes. The application can send receipts through e-mail, helping retailers build loyalty by collecting customer data for future e-mail marketing campaigns.
American Express OPEN announced has expanded its “OPEN Savings” program with OfficeMax, HP and Flextronics RTS’s Firedog tech support and enhanced savings with Hertz. “OPEN Savings” gives small business owners automatic savings virtually every time they use an AmEx Business Card to make purchases at any OPEN Savings partner. Firedog allows Cardmembers to save 10% on all Firedog purchases including end-to-end tech support service for computer installations, repair, PC upgrades, virus removal and all other business technology needs at www.firedog.com or 1-800-FIREDOG. Meanwhile, Hertz offers members 10% off and 5% on purchases when spending between $500 and $2,500 a year and 10% on purchases when spending more than $2,500 a year. The HP Direct partnership allows Cardmembers to receive 5% off all purchases and OfficeMax offers 5% in savings on a $100+single transaction.
A new consolidated complaint combining 13 lawsuits against AZ-based
LifeLock identity-theft-prevention services claims the company
misrepresented its product, illegally sold insurance and breached
contracts. Among the components of the lawsuit is the question of
whether or not LifeLock can lawfully place fraud alerts for consumers
and has been reprimanded to advise consumers they cannot legally do so.
The agency has since stopped accepting and renewing requests to place
fraud alerts although LifeLock continued to collect monthly payments for
the alert services. LifeLock’s refusal to comply with the Fair Credit
Reporting Act (FCRA), which states only an individual can place a fraud
alert and excludes corporations such as LifeLock, is another component
of the lawsuits. Finally, LifeLock’s “$1 million
guarantee” insurance in no-way complies with Arizona Insurance Code
rules and regulations. The complaints against LifeLock include the
violation of the Arizona Consumer Fraud Act, false and misleading
advertising of an insurance product, unjust enrichment and breach of
OR-based Bruce Carey Restaurants and Clamity Jae’s have elected to implement Shift4’s “MICROS” drivers to safeguard against data theft and to
alleviate issues associated with Payment Card Industry (PCI) compliance.
Shift4’s enhanced drivers for “MICROS 3700”, “8700” and “9700” POS systems use
Tokenization technology to replace real CHD in the files and logs of the
POS with a random alphanumeric “Token.” If a Shift4 driver is installed
on an older, non-compliant legacy system, the Shift4 driver removes the
previously stored data and makes it secure, thus bringing it into
compliance. If the Shift4 driver is installed on a newer, compliant
version, the system will further enhance security by removing all usable
CHD and preventing new CHD from ever entering the system. In addition to
enhanced “MICROS” drivers, Shift4 has interfaces with over 300 leading
POS/PMS systems that support CIRT technology.
American Express has expanded the OPEN Savings program with a 5%
discounts with new partners Carey International and Epson America.
OPEN Savings eliminates the need for offer codes, coupons or program
enrollment and provides
automatic savings from an array of well-known brands. Savings can also
be combined with other marketplace offers or volume discount pricing
that businesses may already be receiving from program partners. OPEN
supports business owners with tailored products and services, the team
delivers purchasing power, flexibility, control and rewards to help
customers run their business. OPEN Savings has delivered more than $300
million in savings to American Express Business Cardmembers since 2004.
The Federal Reserve Board named ten new members to its “Consumer Advisory Council.” Among the ten new members: John Carey EVP/Chief Administrative Officer for Citi Cards and Andy Navarrete, SVP/Chief Counsel for National Lending and Regulatory matters for Capital One.
Edna Sawady, an economic inclusion consultant based in NYC was designated Chair and Michael Calhoun, President of the Center for Responsible Lending, was designated Vice Chair. The Council advises the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services. The Council meets three times a year in Washington, D.C. The new members will serve three-year terms.