Gift cards carrying the MasterCard, VISA, Discover or American Express brands have grown 40% this year and are now the third most preferred type of card to receive after restaurant/fast food and department store cards. According to a recent survey by Comdata, only 14% of adults purchased cash cards for others this year while 39% of those surveyed prefer to receive a cash card. About half of retail gift card buyers prefer to purchase gift cards at the check-out with an associate, while the other half prefer using a self-dispensing kiosk or have no preference. Winter holidays and birthdays continue to dominate occasions for giving gift cards. About 10% have purchased gift cards as an employee incentive and 10% have purchased a gift card in response to an advertisement. The Comdata study as found that adults received 3.8 gift cards in the past year, the same as the prior year.
AT&T has launched a mobile banking platform that will enable consumers to view account balances and history, transfer funds and pay bills from their AT&T mobile handsets. The mobile banking application will be pre-loaded on future AT&T handsets beginning later this year. The mobile banking application is also available for download on more than 30 of AT&TÃ¢Âs most popular handsets. Customers sign up at their financial institutionÃ¢Âs online banking Web site and are issued a one-time initialization code. After accessing mobile banking on the AT&T handset, customers use the code to link their account to the mobile application on their device. Customers then create their own PIN. BancorpSouth was the first U.S. bank to go live with mobile banking on AT&T handsets earlier this year. AT&T, Firethorn and CheckFree have teamed to provide the mobile banking solution to customers of Wachovia and SunTrust.
Gift card provider Blackhawk Network has teamed up with the National Football League. Beginning this fall, NFL fans will have an opportunity to purchase gift cards for participating NFL teams, including the Chicago Bears, Dallas Cowboys, Detroit Lions, Kansas City Chiefs, New England Patriots, New York Giants, New York Jets, Oakland Raiders, Philadelphia Eagles, Pittsburgh Steelers, San Francisco 49ers and Seattle Seahawks at Blackhawk Network’s Gift Card Malls which include Safeway, Vons, Dominick’s, Kroger, Fred Meyer, Ralphs, Albertsons, SUPERVALU, Giant Eagle, GetGo and Wawa.
With Secure EFT’s platform, Open Solutions Canada has signed agreements
to offer smaller merchants and retailers its new gift card program. With
new solution, Open Solutions Canada provides the merchants with full
customer support, including card initialization, customization and fee
settlement. Open Solutions Canada supports over 30 Canadian financial
institutions through a network providing shared cash transaction processing
and ATM monitoring. EFT Canada Inc. develops, maintains and delivers
electronic transaction processing, collection processing solutions and
Intuit UK and Experian have announced a partnership to provide clients
with consumer credit reporting and financial status. The service will be
available with QuickBooks Pro, QuickBooks Accountant or QuickBooks
Premier software to provide Experian’s credit score and credit limit
on UK companies. According to experts, UK companies write off an
annual average of GBP14,000 each in bad debts with estimates that more
than a half of these companies suffer from these delayed payments, which
total over GBP16 billion.
Gemalto digital security is supplying SEB Germany with their
Internet credit card personalization solution, “CardLikeMe”, allowing
customers to personalize their credit cards with any picture and
illustration they choose. The website solution will also allow customers
to choose from a range of standard images. SEB Germany serves
400,000 corporate customers and institutions and 5 million private
customers, 1 million of which are German, with financial products.
Gemalto digital security had 2006 annual revenues of EUR1.7 billion
and employs nearly 10,000 through its 85 offices in over 40 countries.
South Korea-based Mobilians International fraud management is implementing its mobile online payment method in the U.S. The new “MobiCash” online payment method enables consumers to purchase retail items and services with the use of a mobile phone over a secure platform that does not require the transmission of any personal account information, such as card or account numbers. Mobilians executive team includes seasoned executives from Sprint Nextel, CyberCash, CyberSource, Transaction Network Services, and Mobilians of South Korea. The company expects to commence active payment transactions with online merchants using its core systems in first quarter of 2008.
Mobilians International fraud management will be implementing its mobile
online payment method ” MobiCash” in the United States. The online
payment method allows consumers to purchase retail items and services
with the use of a mobile phone over a secure platform that does not require
the transmission of any personal account information, such as card or
account numbers. This will eliminate fear of online payment fraud while
expanding market reach to consumers without credit cards and to those
who fear Internet credit card information disclosure due to potential
phishing, pharming, and identity theft. Mobilians International develops
provides mobile payments and e-commerce solutions that offer secure
payment methods of online transactions with mobile phones and mobile
phone accounts (rather than credit card accounts).
Jet Airways has implemented CyberSources’ automated fraud assessment
solution, “Decision Manager,” to reduce the risk of fraud. Jet Airways
the fraud management solution because of its reliability, scalability,
to the Indian market. “Decision Manager” evaluates transactions in
based on specifications determined by Jet Airways to determine whether the
online ticket purchase should be accepted, rejected or reviewed. This
or “decision”, is made automatically within the matter of a few seconds.
Demonstrating the flexibilty of the solution, the client, in this case
Airways, can update specifications and terms for the determination of
anytime. Jet Airways operates a fleet of 66 aircraft and operates over
flights to 53 destinations around the world having flown over 75 million
since it first began operating in 1993.
An on-demand Web-based service for accepting, managing and integrating credit card transactions in enterprise resource planning systems, such as SAP, has been launched. Houston-based Paymetric has released “XiPayNet.” The new service manages the payment card acceptance workflow – from payment origination, to card authorization, to transaction settlement – all without additional hardware, installation of software, or costly maintenance. “XiPayNet” also provides interfaces for multiple credit card processing institutions and most enterprise applications. Additionally, iPayNet enables secure payments to flow directly from an organization’s on-premise enterprise system, through the secure “XiPayNet” service at Paymetric’s PCI-certified data center, to a multitude of card processors or banks.
Sprint smartcards has joined the 23 other company members of the
GlobalPlatform Mobile Task Force as part of an effort to develop
inter-operable card and device specifications for mobile payments. The
platform’s partnership was established to develop technical specifications
to meet requirements of the mobile payments industry with representation
from mobile, financial and Near-Field Communication (NFC) industries.
This representation includes the European Telecommunications Standards
Institute (ETSI), the Open Mobile Terminal Platform (OMTP), the Open
Mobile Alliance (OMA), EMVCo, the NFC Forum, the Mobey Forum,
the GSM Association and the Mobile Payments Forum (MPF). In addition
to its joining the Mobile Task Force, Sprint will also participate in the
GlobalPlatform’s Systems Committee and have a voice on the Advisory
Pay88 has announced that its sales expansion for online, multi player
games is developing as projected with plans for expansion into the
Shanghai market. Following the recent success in the Chongqing market,
Pay88 will use similar techniques to penetrate the Shanghai market,
new and established relationships. These developments are part of an effort
on behalf of Pay88 to accelerate sales of online, multi-player game cards
throughout China. Pay88 provides prepaid cards through an established
distribution network and online web presence over a secure platform for
transferring money and making online purchases. Over the next year,
the company plans to establish its services in 20 cities throughout the