Check Point signs Zhejiang Zhongda Brokerage

Check Point announced Zhejiang Zhongda Futures Brokerage deployed “Check Point Abra” secure virtual workspace to provide its mobile workforce remote access to their corporate desktops anytime, anywhere. With 800 employees across 16 different branch offices in China and a growing mobile workforce, Zhongda required a robust data security and business continuity plan that would enable employees and maintain customer confidence. As a financial institution recognized by the China Securities Regulatory Commission, Zhongda also needed to remain compliant, adhering to strict guidelines for information security, privacy and remote access.

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Discover Posts Astounding Quarterly Net Income of $600mm

Discover posted 2Q/11 net income of $600 million, compared to $258 million the year ago quarter. This was thanks in part to card sales volume experiencing year-over-year growth of 9% with $25 billion in volume in the quarter; total loans having increased 5% from the prior year to $52.5 billion, while credit card loans declined 1%; credit card loan balances having grown $644 million, or 1% from the prior quarter; and the delinquency rate for credit card loans over 30 days past due having reached a 25-year record low of 2.79% and the credit card net charge-off rate declined to 5.01%. Meanwhile, Payment Services saw pretax income of $43 million, up 19% from the prior year, and transaction volume for the segment was $46 billion in the quarter, up 24% from the prior year.

Net interest income increased $46 million from the prior year due in part to increased loan balances related to the student loan acquisition and lower funding related costs while delinquency rate on credit card loans over 30 days past due reached an all-time low of 2.79%. The credit card net charge-off rate decreased to 5.01% for the second quarter of 2011, down 355 basis points from the prior year and 95 basis points from the prior quarter and the provision for loan losses of $176 million decreased $548 million by 76% year-over-year thanks to lower charge-offs. Principal charge-offs decreased $424 million from the prior year. Payment Services dollar volume was a record $45.9 billion for the second quarter, up 24% from the prior year, driven by higher PULSE issuer volume, which experienced transactions up 25%.

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Serverside Alleges patent infringement on 15 parties

Serverside Group commenced a patent infringement suit in United States District Court for the District of Delaware, alleging 15 parties are infringing on its patent right to financial transaction card customization technology. Defendant parties include CPI Card Group, PSCU Financial Services, Inc., The Members Group Inc., Eastern Bank, Dimpledough Inc., JHA Payment Processing Solutions Inc., T8 Webware, Bank Iowa, Anheuser-Busch Employees’ Credit Union, American State Bank, United Solutions Company Inc., Design One Creative, LLC., Neighbors Credit Union and Credit Union 1. The U.S. Patent and Trademark Office (“USPTO”) issued the ‘199 and ‘490 patents to Serverside in April and May 2011, concerning its core card customization technology.

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Global Bay-Guess 2011 Retail TouchPoints Award Winner

Global Bay Mobile Technologies mobile retail software mobile Point of Sale deployment on Apple iPod touch with Guess has been recognized by Retail TouchPoints as the 2011 Channel Innovation Award Winner in the In-Store category. Retail TouchPoints announced the winners of the 2011 Channel Innovation Awards during the Customer LifeCycle Conference. This was based on its sales gains within emerging channels; convenience of shopping options; cross-channel marketing; customer recognition across channels; and integration of systems with promotion, order management and sales history.

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Debit card company Deploys inContact self-service

inContact on-demand call center software was selected by a pre-paid debit card company to power customer self-service. The inContact self-service app will handle approximately three million minutes of customer interactions per month, which is equivalent to the efforts of approximately 480 agents if those calls were handled in person. This represents one of the most significant customer wins in terms of future revenue potential that the company has achieved in the last twelve months. The company selected inContact thanks to its flexibility; scalability; PCI Certification; and integration.

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420 Card Processing Reliable Option to medical-marijuana shops

With major credit card processors to terminate services to the medical marijuana industry, 420 Card Processing will convert merchants to its platform to insure uninterrupted service. 420 Card Processing merchant card services to the medical marijuana industry is comprised of experienced payment processing professionals supporting merchant equality and opportunity. With U.S. medical-marijuana shops struggling to find bankers and many prescribing physicians having received notification their credit card processing privileges will be suspended in early July, 420 Card Processing provides a stable affordable solution to efficiently convert merchant accounts. 420 Card Processing is a member of the National Cannabis Industry Association trade group.

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Research and Markets shows NFC to Grow 68% by 2014

Research and Markets added the “Global NFC Payments Market 2010-2014” report to their offering, indicating the NFC Payments market is expected to grow at a CAGR of 68% by 2014, especially in the Americas, Europe and China thanks in great part to exponential growth in mobile commerce. Security concerns, reportedly, hinder the growth of this market. The global NFC Payments market is marked by smartphones being embedded with NFC chipsets.

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Chase Investing to Bring Healthy Foods to Low-Income

Chase announced it will make investments through the New Markets Tax Credits program to support the new construction of and improvements to grocery stores and other initiatives to provide more fresh and healthy foods in low-income neighborhoods across the country. Chase will work with tax credits recipients to identify viable projects that will provide access to healthy foods primarily in underserved urban areas. The tax credits will be used to provide subsidy to encourage operators of grocery stores to build and enhance facilities in low-income communities. Most projects will contain grocery stores, but the bank is open to looking at new and innovative ways to distribute healthy foods in these challenged communities.

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Wyoming Bankers Teams With Vantiv

Wyoming-based Bank of Commerce (BOC) has signed a contract with Vantiv for comprehensive electronic transaction processing services. With this, Vantiv will provide single-sourced services that include Debit Portfolio Management, “Prewards,” debit processing and ATM driving. Prewards is a merchant funded rewards program which customers will find very beneficial. It is a simple, easy way for customers to be rewarded automatically through the use of their BOC Debit Card. 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 and comprehensive ancillary services, including fraud detection, card production, rewards programs and other consultative services.

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Diebold Awarded CSAA Central Station of the Year

Diebold’s Monitoring Center was named the Central Station Alarm Association (CSAA) 2011 Central Station of the Year, making it the first repeat winner of the annual award, having previously won in 2007. Diebold’s Monitoring Center serves as an extension of a customer’s security operations by monitoring a variety of security and energy-related systems, including video and access control systems, data networks and other items to help mitigate risk to physical and logical assets. Diebold’s also received a 2010 Call Center Excellence Award from the International Quality & Productivity Center (IQPC) while Frost & Sullivan named Diebold the North American Commercial Monitoring Company of the Year in 2009 and 2010. Meanwhile, the CSAA is a trade association representing companies offering CSAA-approved monitoring services.

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News International online to offer PayPal payment

News International is to introduce PayPal’s fast checkout system to eventually introduce micro- payments for online content. Readers will be able to use PayPal to pay for The Times and The Sunday Times websites and iPad editions instead of entering credit or debit card details for each payment. The new PayPal method would make it easier to introduce a micropayment system by simplifying the process for readers. A spokeswoman for News International declined to comment on whether micropayments would be introduced.

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