Premier from Fiserv Demos Quick Scalability

Fiserv financial services technology solutions concluded its benchmark test demonstrating the scalability and performance of its “Premier” from Fiserv. Run on IBM Power Systems with Solid State Drives (SSDs), show the ability of Premier to manage the Online Transaction Processing (OLTP) and account processing requirements of current and prospective clients while cost-effectively accommodating the future growth of financial institutions of almost any size. Tests showed “Premier” achieved an OLTP benchmark of 5.1 million transactions per hour, surpassing prior benchmark tests utilizing IBM hardware, which demonstrated 1.2 million online transactions per hour.

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GCA Acquires MCA Processing Assets

Global Cash Access Holdings announced the completion of its previously announced acquisition of substantially all of the assets of MCA Processing LLC. GCA is a wholly owned subsidiary of Global Cash Access Holdings and a provider of cash access products and related services to over 1,100 casinos and other gaming properties in the United States, Europe, Canada, the Caribbean, Central America and Asia. It provides cash access with ATM cash withdrawals, point-of-sale debit card transactions, credit card cash advances, check verification and warranty services, and Western Union money transfers.

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Chicago Open Standards Fare System Inks Cubic Contract

Cubic Transportation Systems has been selected for contract award by the Chicago Transit Authority (CTA) to integrate, deliver, operate and maintain the agency’s next-generation open payments system that will accept bank cards and, ultimately, mobile phone payments. The contract has an estimated value of $454 million, making it the largest automated fare collection contract ever placed in North America. Cubic will operate and maintain the entire system, resulting in an overall 12-year partnership between Cubic and the CTA. Riders without credit or debit cards will be issued reloadable prepaid debit cards that can be used for everyday purchases and CTA rides.

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MoneyGram Announces Pricing of Secondary Offering

MoneyGram International global payment services announced an underwritten secondary public offering of an aggregate of 9,250,000 shares of MoneyGram’s common stock by affiliates and co-investors of Thomas H. Lee Partners, L.P. and affiliates of Goldman, Sachs & Co. has been priced at $16.25 per share. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,387,500 shares of common stock. MoneyGram will not receive any proceeds from the proposed offering. The offering is expected to close on November 23, 2011, subject to the satisfaction of applicable closing conditions.

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80% to Give Gift Cards This Season

Thanks to e-gifting, instant delivery through Facebook, personalized video and even mobile options, gift cards have become unique gift ideas in their own right. Holiday shoppers are expected to spend an average of $155.43 on gift cards, the highest amount since 2007 and up from $145.61 last year. With this, gift cards remain the most requested holiday gift, marking the fifth year in a row gift cards have topped consumers’ wish lists. This compares to in 2010 while gift givers will also spend more on each card they buy. Shoppers will spend an average of $43.23 per card, up from $41.48 last year.

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Dollar General Lets Consumers Check-Out with MasterCard

Shoppers have the option to use their MasterCard credit cards at all of the nearly 10,000 Dollar General locations across the country, expanding on previous acceptance of MasterCard debit and prepaid cards. Dollar General reinforces its leadership among small-box discounters by adding MasterCard branded credit cards. As consumers have become more comfortable using payment cards, there has been a migration of everyday spending from cash and check to electronic payment.

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Sberbank Implements Transoft ATM Software

Sberbank has purchased an institutional license for installation of the OptiCash/OptiNet software developed by Transoft International. Designed to optimize cash management processes for the bank’s branches and ATMs, Transoft is one of the major global vendors of cash flow management software and implementation of their products is known as one of the best worldwide practices for efficient cash liquidity management. Sberbank purchased an institutional license in order to replicate OptiCash/OptiNet across all Sberbank cashpoints in the Russian Federation and centralize all cash flow management processes within the institution.

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Canadian Retail Solutions Sees 20 Years

Canadian Retail Solutions POS software solutions is celebrating 20 years of business helping Canadian retailers with their POS systems. The POS and Inventory Management Software enjoyed 20 years with many changes to the retail industry and the point of sale solutions provided. The solutions now available offers customized POS software and valued POS support, implementation, and training, along with multi-channel marketing services.

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GE Capital & PANDORA Partner, Launch Credit Program

Consumers now have new payment options to purchase jewelry to mark the special moments in their lives with the introduction of a consumer financing program from GE Capital’s Retail Finance business and PANDORA. In a multi-year agreement, backed by GE Capital, PANDORA offers a range of convenient payment options with its credit card program on the full line of PANDORA jewelry products and collections, including bracelets, charms, watches, necklaces and pendants. The special financing program is currently available for purchases at select PANDORA concept stores nationwide, and will expand to more retail locations in early 2012.

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UK POS Introduces Collation Service

The UK Point of Sale is now offering a collation service to its customers, allowing businesses to order sets of POS items to any of their stores.UK POS’s collation service now allows retailers to order point of sale items such as sets of double hook wires, hanging buttons and poster holders in bulk, and then have them collated by UK POS and delivered nationwide to a large number of stores, therefore reducing the amount of time spent organising deliveries by the customer. UK POS is continually adapting to changing market trends with its POS services and display systems.

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Bankruptcies & Chargeoffs Continue Improvement

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] October bankruptcies and chargeoffs both continued to slide, showing consumers are still paying close attention to their credit performance. October U.S. consumer bankruptcy filings totaled 106,255 nationwide, down 19.6% from the 132,173 total consumer filings recorded in the year ago period, while retail card chargeoffs broke the 6% threshold to 5.55%…

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Discover Rolls Improves Cardmember Website Design

Discover announced its “ShopDiscover” online shopping portal now rewards cardmembers 5% to 20% Cashback Bonus year-round on purchases at Dell, Lowe’s, BestBuy.com and Macy’s. These rewards are in addition to the up to 1% Cashback Bonus Discover cardmembers automatically receive on every purchase. Discover cardmembers now can search for and use merchant coupons, taking advantage of additional savings on top of their Cashback Bonus rewards earned through ShopDiscover. The new “ShopDiscover” has grown to more than 200 participating merchant retailers, offering an easy way for Discover cardmembers to accelerate the rewards they earn on their purchases.

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