REVOLVING CREDIT & COFS CONTINUE DOWNWARD TREND

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] In conjunction with U.S. credit card delinquencies plummeting to a near six-year low- with 60+ day delinquencies dropping for the 19th straight month by another 31 basis points (bps) to settle at 2.15%- total outstanding revolving credit dropped from $795.9 billion to total $792.5 billion in July for the first drop…

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Ink from Chase and Google to Host Small Business Seminars

Ink from Chase, the business card portfolio from Chase Card Services, a division of JPMorgan Chase & Co., is teaming up with Google again this fall to host a series of seminars aimed at helping small business owners grow their businesses online. The seminars and online webinars are free of charge to Ink from Chase cardmembers and will feature expert advice from a Google product specialist, including, online marketing tips and best practices that small business owners can use immediately to make a big impact on their businesses. The “Grow Your Business Online” fall seminar and networking series kicks off in Chicago on September 19 and will include cities such as Houston, New York City and Miami. Each seminar will feature expert advice from Frederick Vallaeys, an AdWords evangelist at Google, and a local small business owner as well as time to network with other small business owners. To expand customer reach, the online webinar series will kick off in October. Additional information will be available at www.inkfromchase.com/events in late September. In addition to offering small business owners powerful cards and services, Ink from Chase launched Jot SM, a mobile application and online solution which saves small business owners time by enabling them to easily track, categorize and organize business expenses in real-time from their mobile devices or online.

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Visa Rolls Out Super Bowl XLVI Promo


Visa announced a new national promotion offering Visa cardholders the opportunity to win a trip for themselves and 10 friends to Super Bowl XLVI to witness first-hand all the sights, sounds and excitement of the biggest event in football. The “Visa You & 10 Super Bowl” Sweepstakes represents a key component of Visa’s integrated marketing campaign for the 2011 NFL season that will also include national advertising, social media executions, client and merchant activation programs, new NFL team relationships, and the seventh season of Financial Football, an educational program to promote financial literacy in high schools nationwide. Through Dec. 27, 2011, Visa cardholders in the United States will automatically be entered for a chance to win a trip for themselves and 10 friends to Super Bowl XLVI when they use their Visa card. The winner and all 10 of his or her guests will receive: tickets to the NFL Experience and Super Bowl XLVI in Indianapolis, Ind., roundtrip airfare and ground transportation, hotel accommodations, admission to a NFL-sponsored party, a meal with an NFL player, and a Visa gift card.

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AmEx Shows Luxury Fashion Sales Propped Up

American Express Business Insights released its “2011 Spend Sights Special Report: Global Luxury Fashion Spending” indicating the average consumer is doing more this year to prop up luxury spending than traditional high-end shoppers. Reportedly, average consumers are leading spend in luxury fashion over the traditional enthusiast across the US, Europe and Asia. In fact, non-enthusiast men in the US spent 156% more on premium luxury fashion in 1H 2011 over last year, followed by women at 125%, whereas male enthusiasts spent 11% less on premium luxury, and their female counterparts had no change for the same period. Overseas, enthusiasts decreased spend on overall luxury fashion in the UK by 14%; in France by 10%; in Japan by 22%; in Australia by 14%; and in Hong Kong by 1%. In contrast, their average consumer counterparts increased luxury fashion spend by 27%; 13%; 26%; 1% and 3%, respectively.

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Net Access Meets PCI Data Security Standard Validation

Net Access Corporation has met validated compliance with the PCI-DSS. Net Access Corporation, a leading data center solutions provider in the New York metropolitan region, announces that it has successfully validated compliance with the Payment Card Industry (PCI) Data Security Standard as a “level 1” service provider for its colocation services. Net Access’s PCI Compliance certification helps affirm that Net Access consistently provides a secure and reliable environment for their customers.

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Fiserv completes CashEdge acquisition

Fiserv financial services technology solutions completed its acquisition of CashEdge consumer and business payments technologies. The transaction is expected to be neutral to adjusted earnings per share in 2011 and accretive to adjusted earnings per share in 2012. CashEdge currently serves more than 500 clients while Fiserv serves approximately 16,000 clients worldwide, including financial institutions of all sizes and charter types, brokerage and investment firms, and billers such as retailers, telecommunication firms, and utilities.

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Riverview Community Bank joins Viewpointe

Viewpointe check image exchange and archive services, announced that Riverview Community Bank (Riverview) has become a Pointe2Pointe with Internet connectivity customer. WA-based Riverview Community Bank is implementing Viewpointe’s “Pointe2Pointe” Internet solution to conduct check image exchange more efficiently and cost effectively. The service provides a safe, simple and secure platform to connect with other exchange partners, and eliminates the need for a dedicated telecom line.

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Paymentus Receives Investment from Accel-KKR

Paymentus electronic bill payment, presentment and customer communication technology and services company, has received an equity investment through Accel-KKR private equity investment firm. The investment will be used by Paymentus to accelerate development, drive growth, and enhance the footprint of its real-time payment network. Paymentus’ unified, SaaS platform delivers enterprise bill payment, presentment and revenue management technology through a self-service model, simplifying, automating and streamlining the bill payment process. Processing more than 75 million customer transactions annually, the company’s next-generation platform provides real-time, multi-channel payment processing, and the industry’s fastest and most simplified implementation experience.

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Experian Launches Payment Protection Management

Experian global information services has launched a set of new services designed to help financial services organisations manage Payment Protection Insurance claims. The “Claimant Registration Service” offers secure registration and real-time electronic customer identity verification to allow financial services companies to quickly verify claimants. It also allows financial services organisations to submit back-books of customers to Experian to identify individuals and validate them against any exemptions and exceptions, while also updating customer information and contact details.

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Vantiv Payment Forges Multiple FCU Contracts

Vantiv payment processor has signed contracts with three Texas and Florida based credit unions for single-sourced comprehensive electronic processing servicing. These include debit card services, card production, gateway services, debit portfolio management, fraud mitigation, enhanced chargeback processing and ATM driving. Vantiv’s product suite also includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, credit issuing and processing services, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, Rewards! product, and other consultative services.

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Midco Provides Meta Payment Customer Service

Meta Payment Systems has selected Midco Connections to handle their customer support services. Meta Payment Systems is a national leader in the pre-paid card industry, issuing gift cards, travel cards and re-loadable prepaid cards for customers throughout the country. The customer service segment will assist Meta Payment customers with a full range of services, including providing account balances and transaction histories, setting and re-setting PINs, managing payments, and helping customers with lost or stolen cards, as well as answering questions and assisting with basic customer service needs, all on a PCI-DSS compliant platform.

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