CARD REVENUE ENGINEERING

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] That credit card revenue streams have dramatically gravitated toward fee income is undeniable. The resulting split between what was the greatest source of income for card issuers during the past decade – interest income – and rising fee income is widening, toward fee income as the dominant income stream. For 2011,…

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Discover Offers Cardmembers Premium Tickets to 2012 Orange Bowl

Discover Financial Services is offering cardmembers the chance to purchase premium tickets to the 2012 Discover Orange Bowl along with an exclusive Orange Bowl experience in South Florida, by redeeming Cashback Bonus rewards or using their Discover card. The company is offering an exclusive experience for cardmembers ordering their tickets at www.discover.com/orangebowl with a sneak peek at the Orange Bowl half-time entertainment the night before the game; access to the Orange Bowl Fan Zone on game day; and admission to the pre-game Discover Tailgate Party featuring food, beverages and entertainment. Discover coincidentally launched its newest “Peggy” ad featuring former Ohio State quarterback and current ESPN college football analyst, Kirk Herbstreit, as he grapples with some of the challenges consumers encounter when calling their card’s customer service department.

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Heartland Payment Credits Merchants from Debit “Swipe” Fee Reform

Heartland Payment Systems payment processor guaranteed it will pass the debit swipe fee cost savings from the Durbin Amendment directly to its merchants with its “Durbin Dollars” campaign. To educate merchants on the rate changes and their cost savings potential so they do not fall victim to processors looking to profit at their expense, the promotion offers such resources as an educational video, a website, tip sheets and webinars, and partnering with industry trade associations. Capping debit card interchange rates for issuing banks at a significant reduction from the average of 44 cents that merchants currently pay per debit card purchase at the pre-Durbin rates, the amendment was designed to provide business owners relief from card processing costs. While some processors publicly to keep the funds to bolster their own profits, Heartland boasts its average merchant will save more than $1,000 in the first year alone.

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Swift launches global remittance

SWIFT is launching its “SWIFTRemit” for the global remittance market, providing a global platform for person-to-person payments. It connects banks, money transfer operators (MTOs) and other types of supervised payment institutions over the highly secure and stable SWIFT network. Also, “SWIFTRemit” helps users provide better customer service in the form of additional flexibility and cost and time transparency, allowing money transfers can be made in cash and to accounts, cards and cheques. Nearly 70 financial institutions have already registered for the service, 25 of which already operational.

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Signature Bank Implements Amex FX Payments Platform

Signature Bank is using American Express FX International Payments Platform to process online orders for international wire transactions by Signature Bank corporate customers. These customers can place orders from Signature Bank through the online platform of American Express, featuring a secure online platform to send wire payments in USD or foreign currency; file upload with the ability to store repeat wire and beneficiary information saving time; and email notification to beneficiaries when a payment is initiated and complete.

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CHARGE Anywhere PA-DSS App-Certified on Windows Mobile

CHARGE Anywhere secure mobile payment and payment gateway solutions is PCI SSC-certified with the Payment Application Data Security Standard (PA-DSS) program. The CHARGE Anywhere Payment Application for Windows Mobile merchants can turn any Smartphone or Tablet into a fully functional, secure, and intuitive point-of-sale terminal. The Windows based credit card processing solution gives businesses the freedom to securely process and manage credit card transactions from their mobile devices. The exclusive solution allows users to capture and download mission critical business data above and beyond traditional credit card data such as signature, invoice number, employee number, tips, GPS location and more.

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Merchant Warehouse Announces Best Practices for Small Businesses

When the Federal Reserve’s new regulations on interchange fees take effect this month, limiting how much issuing banks can charge merchants for accepting debit card transactions, small businesses will be affected through a number of variables. Merchant Warehouse credit card processing and merchant account services announced some of the best practices merchants can implement in response to the regulation. The recommend merchants examine data and figure out the percentage of credit versus debit card transactions being processed. They also should analyze monthly statement and compare it to a statement from month’s previous for savings.

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MerchantAnywhere Launches Swiping and Receipt Printing Solution

Advanced Merchant Solutions launched a payment solution for Apple’s mobile operating system with its latest software, “Pocket Verifier Professional.” Available as a free download on the Apple App Store and is designed to work with the company’s new iMerchant Card Reader and Thermal Receipt printer, the Pocket Verifier/iMerchant system enables any mobile business user to avoid the high cost of “card-not-present” transactions and eases the concerns of customers by allowing printed receipts. AMSI further integrates this system into a complete solution by packaging it with a combined merchant and gateway account, with e-commerce, and no upfront costs, no term commitments, or cancellation fees.

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BillMyParents Names New Chairman and CEO

Michael R. McCoy has been appointed Chairman of the Board of Directors and Chief Executive Officer with BillMyParents payment solutions. Having most recently served as the President and Head of Wells Fargo Consumer Credit Cards, McCoy’s appointment follows a series of high profile marketing campaigns targeting parents of teens and tweens with particular emphasis on moms. BillMyParents entered into a partnership with Procter & Gamble’s marketing agency Tremor, whose Vocalpoint network of 600,000 interactive moms is expected to give BillMyParents brand exposure to as many as 2.5 million moms in the US. He previously served as Executive Vice President, Human Resources and Communications for the Wells Fargo Home and Consumer Finance Group, where he led major administrative functions for all businesses associated with the 50,000-member organization focused on mortgage banking, credit cards and consumer finance.

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Mobeam Closes $4.9 million of Series A funding from yet2Ventures, Samsung Ventures, Mitsui

mobeam closed a $4.9 million Series A venture round, receiving funding from yet2Ventures, Samsung Ventures and Mitsui, together with other independent investors. mobeam’s patented technology overcomes the technical barrier preventing mobile phones from interacting with the laser scanners used at retail locations around the world. Funds from this multimillion dollar funding round will be used to establish mobeam’s light based communications (LBC) technology as a new industry standard allowing mobile phones to interact with point of sale (POS) technology. mobeam’s patented light based communication (LBC) technology utilizes LED technology already used on the vast majority of handsets to transform barcodes into a beam of light that every laser scanner can read. This technology makes it possible for a phone to present a coupon that can be easily and conveniently scanned and redeemed, without the need for retailers to upgrade their technology.

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JCB International Opens Middle East Branch

JCB international payment opened its first branch office in the Middle East in Dubai, the United Arab Emirates (UAE). From here, JCB will manage card issuing and merchant acquiring, building on its growing market presence since 1987. The first JCB card in the Middle East was issued in Bahrain by Credimax in 2005. To enhance its acceptance network especially in the UAE, JCB had signed merchant acquiring agreements with major partners such as Mashreq Bank in 1996, Network International in December 2006 and National Bank of Abu Dhabi in 2008.

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Experian upgrades pre-screening credit risk

Experian global information services launched a new version of its credit marketing pre-screening tool. Allowing financial services organizations to more easily identify consumers under financial stress and market only to those most likely to be accepted for their products and services, Delphi for Marketing draws on Experian’s extensive data assets and analytical expertise to assess the credit risk status of UK consumers and includes additional data indicating credit card behavioral data, used in line with credit data regulations.

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