Fiserv has redesigned its online banking solution, Corillian Online, with new digital money movement capabilities into a simplified, task-focused design. The latest licensed version of Corillian Online from Fiserv brings Popmoney® person-to-person (P2P) payments and account-to-account transfers to the home page of the service, where they join existing bill payment capabilities. Design enhancements throughout the service, including the reduction of visual clutter and the use of iconography, reflect current design principles and simplify the user experience. The update also includes improvements to enable family banking and small business banking users to better manage their accounts, and segmentation functionality that allows financial institutions to offer customized banking features to different customer segments.
Fiserv announced the launch of E-bill Introduction, a new feature within the widely used CheckFree® RXP® payment suite. E-bill Introduction offers consumers an opportunity to receive electronic bills (e-bills) via their online banking service for an introductory period during which they also continue to receive paper bills in the mail. Pilots of the feature conducted with five financial institutions delivered solid results, with consumers enrolled in the pilot activating three times more e-bills than consumers who were not enrolled. E-Bill Introduction utilizes a 90-day introductory period to enable consumers who already pay their bills electronically to experience receiving e-bills at their financial institution firsthand. During this 90-day period the consumer receives an e-bill via online banking and a traditional paper bill in the mail. Following the trial period consumers can opt to continue receiving e-bills and turn off their paper bill, or the e-bill will be discontinued and the consumer will continue to receive a paper bill.
Infosys shares closed down 9.59 per cent on BSE at Rs 2988.80 after the Indian outsourcing firm reported lower-than-expected fourth quarter net profit, and dragged the broader market down. Infosys Technologies Ltd , India’s No. 2 software services exporter, lagged market expectations despite a 13.7 percent rise in quarterly profit, hurt by higher expenses in a seasonally weak quarter. Infosys could move lower because clearly the results are subdued and you are sitting on a large rally.
Overall year-over-year electronic commerce and payment processing dollar volume growth increased 8.1% in March, compared to February’s 8.4% growth rate. Dollar volume growth was 6.9% in March versus 7.7% in February as overall average ticket growth was up 1.3% in March by 0.7% year-over-year. This, according to the First Data “SpendTrend,” tracking same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, concluded signature debit dollar volume growth rose to 10.2% in March, the largest increase since December. Also, credit dollar volume growth slowed to 7.7% in March after posting a 12-month high of 9.9% in February.
For December, 2010, MasterCard Advisors’ SpendingPulse indicates growth in December sales was robust across many retail categories. December 2010 saw year-over-year Total Apparel sales up for a third consecutive monthly increase. At 10.9% this was the year’s most vigorous monthly year-over-year growth rate, and the highest posting since March 2007. In 2010, Total Apparel has enjoyed 9 out of 12 months of year-over-year gains. The Electronics and Appliances sector posted a year-over-year increase of 1.2% in December, following two consecutive months of year-over-year declines. The Consumer Electronics sub-category was up 1.5% year-over-year for December, though overall dollar spending levels suffered due to some decline in pricing power on the larger ticket items such as TVs while the Appliance sub-category declined by 1.3%. Continuing to gain share at a steady rate, the eCommerce channel grew 17.6% year over year in December. This was the highest year-over-year increase since December 2007. Much of the growth was driven by the online Total Apparel sub-category, which grew 28.2% year over year, and even stronger showings in online sales of Family and Children’s clothing, and Footwear. Online sales of Electronics were up a solid 14%, while online Jewelry was up 5.9%.December is a key month for sales in the Jewelry sector, and this month, Jewelry sales posted a double digit growth rate year over year, increasing 10.4%.
MasterCard Advisorsâ macro-economic “SpendingPulse” report tracking national retail and service sales October 2010 summary results show total retail sales grew by 3.3% year-over-year, the strongest yearâtoâyear pace since April. Total Retail sales were up 3.3% in October compared to the month prior when they were up 1.4% while seasonally adjusted month-to-month sales were up by 3.1%. Apparel reflected great sales growth for ts third consecutive month of year-over-year growth while department store sales, electronics and appliances, and airlines all posted declines. On a regional basis, with year-over-year growth in the Mid-Atlantic and South Central regions at close to or above 5.5% while in the Northeast, Pacific and Great Plains saw sales growth of between 1-2%.
Total measured advertising expenditures in the first nine months of 2009 dropped 14.7%, as compared to the same period in 2008, and was down 15.3% in 3Q/09 versus last year, the sixth consecutive quarter of Y/Y declines. Internet display having increased +7.0% and FSIs having increased +3.9% were the only media types with spending increases for the period, the former of which was propelled by telecom, travel and auto advertisers. This, according to data released by TNS Media Intelligence strategic advertising and marketing information provider, showed year-to-date Cable TV expenditures slipped by 2.9%; Network TV saw YTD spending fall 11.5% and Q3 spending tumble 25.1%; Spot TV expenditures remained depressed having fallen 27.5%; magazines declined -19.7%; newspapers dropped 22.8% and radio fell 22.8% while overall, local media ad spending was down 23.7% through September while national media dropped 10.1%.
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Credit card charge-offs exceeded the 10% mark in June, a new record. Compared to one-year ago, charge-offs are up 46.5%. Moody’s Investors Service says that assuming charge-offs increase in line with
unemployment, an increase of 25% by the end of next year from today’s
10.12% level should be expected, resulting in charge-offs exceeding 12.5% by mid-year 2010. Moody’s also notes that 30+ day delinquencies have largely stabilized over the past quarter for numerous trusts. Other key credit card indices such as the payment rate and yields remain
broadly stable. Credit card excess spreads remain positive at present but are under pressure due to increasing defaults.
Business card specialist Advanta reported a first quarter net loss of
$75.9 million, a 62% sequential increase. Charge-offs soared to 16% from
12% in the prior quarter and compared to 6% one-year ago. Business
Cards ending managed receivables decreased to $4.7 billion and customer
transaction volume declined to $2.5 billion for 1Q/09. The number of new
account originations dropped to 3,961 from 15,312 in the prior quarter
and 67,094 one-year ago. The managed net credit loss rate for its
business cards was 15.86% for 1Q/09, compared to 11.99% in the fourth
quarter and 6.43% for 1Q/08. The 30-day delinquency rate jumped to
11.98%, compared to 9.53% in the prior quarter and 5.30% one-year ago.
Gross volume for the quarter dropped 26% year-on-year to $2.5 billion
while the number of accounts dipped 18% to 781,000. For complete details
on Advanta’s first quarter performance, visit CardData ([www.carddata.com](http://www.carddata.com)).
ADVANTA’S CARD PORTFOLIO SNAPSHOT
Period Card Loans
1Q/08: $6.35 billion
2Q/08: $6.08 billion
3Q/08: $5.59 billion
4Q/08: $5.02 billion
1Q/09: $4.88 billion
Source: CardData (www.carddata.com)
A new study as found that consumers who select HSAs to manage their
health care spending are not simply using these accounts to pay for
their immediate health care needs. They are also funding their HSAs
above and beyond their employer contributions and using them as long
term savings and investment vehicles. Canopy Financial also found that
HSA account balances grew in 2008, despite the economic downturn, and
employee contributions to HSAs significantly outpaced employer
contributions. Moreover, transfers into health investment accounts were
double and triple transfers out of HIAs throughout the year.
Additionally, card payments consistently lagged behind every other spend
category, with the majority of spend out of HSAs being derived from bill
payments and reimbursements.
ABI Research has launched “Mobile Money Research Service.” It provides market data, analysis, and forecasts relevant to all the major stakeholders in this market: banks, financial services organizations, credit card processors, chip manufacturers, mobile device OEMs, Near Field Communications (NFC) suppliers, mobile network operators, system integrators, merchants and more. The new service provides a comprehensive view of the technologies, infrastructure, services, devices, supply chain participants, ecosystem partnerships, verticals, and customer interests/preferences driving the market for mobile commerce and banking services using the mobile phone. The new “Mobile Money” service will include many of the research components common to other ABI Research Services: full-length Research Reports, shorter Research Briefs, Market Data products, ABI Insights, and analyst inquiry support.