ACH COLOMBIA Joins the ICPNO

ACH COLOMBIA has become a member of The International Council of Payment Network Operators (ICPNO), a collaboration of the top and fastest growing Online Banking ePayments (OBeP) network operators. ACH COLOMBIA´s consumer OBeP offering is PSE (Pagos Seguros en Línea). After shopping at a merchant site or choosing to pay a bill online, the consumer selects PSE as the payment option. The consumer then identifies their bank from a list of participating financial institutions and is redirected to the bank site where the consumer authenticates their identity using their existing online banking credentials. The consumer is presented with details of their transaction, confirms payment and is redirected back to the merchant site to receive a payment receipt. The merchant receives immediate authorization and is guaranteed payment. The bank sends the payment to the merchant in a batch transaction at the end of the business day.

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Banks to Focus on ATM Automation, Security and Sophistication

In 2011, banks are projected to focus on automation, security and flexible software at ATMs. With the loss of revenue from overdraft charges, automation is becoming a necessity, consumers continue to demand more features and functionality at their ATM and envelope-less cash/check deposit is more important than ever. This, according to Wincor Nixdorf, also shows banks will increasingly need to protect their customers by investing in more sophisticated security measures to reduce the time and costs spent on securing the ATM and will provide managers with assurance that their ATMs are less vulnerable to fraud. The flexible software will come into play to fully leverage the ATM channel, allowing for enhanced ATMs and constantly improve their offerings to engage, communicate and remain at the forefront of the customer’s financial needs.

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Ceridian Stored Value Solutions Introduces Loyalty Program

Ceridian Stored Value Solutions (SVS) has kicked off its “Easy Loyalty” card-based consumer loyalty program, giving merchants the opportunity to launch a loyalty program with little or no change to their POS, using existing SVS gift card integration. Easy Loyalty is a fast, effective way for SVS clients to launch a loyalty program that drives incremental spending from existing customers, and acts as a new customer acquisition tool. Providing the tools to launch a loyalty program with little effort, “Easy Loyalty” is useful for Retail Gift Cards; VISA/MasterCard Prepaid Debit Cards; Incentive Programs; Promotional Cards; E-commerce Solutions; and Inventory Management.

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Banking Regulations Will Restrict Credit Availability

Banking regulations may dampen credit supply and slow economic growth that is typically fueled by consumer and small business spending across Europe in 2011 while risk managers forecast a rise in credit demand that outpaces the growth in supply in most regions, with the “credit gap” widest for small and medium enterprises (SMEs). Risk managers foresaw a tightening in credit supply due to regulations, including Basel III requirements for higher capital reserves. One-third of respondents said Basel III would cause consumer lending to decrease, and more than half (52 percent) of respondents said consumer protection regulations would lead to a decrease in consumer lending. This, according to FICO and Efma (European Financial Marketing Association) announced the results of the first European Credit Risk Survey, also shows 62% said new banking regulations will reduce profits from consumer and SME credit portfolios. Additionally, only 47 percent believed the amount of credit extended will increase, and 17 percent believed it will decrease. More than 60 percent of respondents expected small business delinquency to worsen. Overdraft delinquency was expected to worsen by 43 percent of respondents. However, while 50 percent of respondents expected credit card delinquency to worsen, more than 35 percent of respondents project a reduction in card delinquencies.

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Rockland Trust Offers New Mobile Banking Services

Like most banks nowadays, Rockland Trust is introducing its full range of mobile banking services, featuring its “mDeposit” solution. The “mDeposit” app lets customers deposit a check into their account directly from their mobile device, using its camera to scan and deposit the check. mDeposit is available on the iPhone right now while iPod Touch, Blackberry and Android devices expected to be added later this year. Users can also check balances, track account activity, search transactions, and set up alerts for text or e-mail messages for changes in their account, all for free.

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First Data Posts 4Q/10 Flat Q/Q, FY Revenue

First Data posted its 4Q/10 consolidated revenue of $2.7 billion, up 6% compared to a year ago, thanks mostly to increases in debit network fees and merchant related services from U.S. economic growth. Meanwhile, the net loss attributable to First Data was $179 million, an improvement of $189 million and retail and alliance services revenue was up 7% to $873 million since the year ago period thanks to a transaction growth of 9%. The International segment revenue was $440 million, down 3% compared to the prior year. For the full year 2010, consolidated revenue was up 11% to $10.4 billion thanks in large part to Bank of America Merchant Services alliance and increases in debit network fees; adjusted revenue increased 3% to $6.4 billion thanks to revenue growth in Retail and Alliance Services, which was up 8% to $3.3 billion. This growth was driven by 10% transaction growth while Financial Services segment revenue for the year hit $1.4 billion, down 2% compared to 2009.

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January Consumer Confidence Hits Three-Year High

Consumers’ confidence was up in January thanks in great part to perceived improving U.S. economy and personal finances as the Discover U.S. “Spending Monitor was up 5.6 points to 93.1. This being the highest level of confidence since November 2007, the number of consumers rating the economy as good or excellent hit 10%, compared with 9% in December, while 51% still rate the economy as poor, down 5 points from December, and 37% rate the economy as fair, up 3 points from December. Overall, 33% feel economic conditions are getting better; 40% feel the economy is getting worse-down 4 points since December; and 22% feel economic conditions are unchanged. Among middle-income consumers, 50% currently rate the economy as poor; 32% feel the economy is getting better, a 7-point increase from December; 38% rate their finances as good or excellent; 40% feel their finances are getting worse; and 35% of all consumers anticipate an added expense or income shortfall in the month ahead.

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Credit Card Chargeoffs Down 62 Points

Credit Card Chargeoffs for January marked the fourth straight month-over-month improvement, down 62 basis points to 8.37%, down 18% since the year ago period to a two-year low. Meanwhile, late stage delinquencies fell to a 27-month low for what is sure to be continued loss improvement in the coming months as the 60+ day delinquency index decreased 14 bps to 3.23% and 30+ day delinquencies dropped 36 bps to 4.18%. This, according to Fitch’s Prime Credit Card Index, also shows gross yield improved for the second consecutive month to 21.98%, a 15 bps gain and remains 18% higher than the historical average at inception of 18.67%.

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Trustwave Validates Intesa Sanpaolo Card PCI-DSS

Intesa Sanpaolo Card card processing has been validated compliant with the PCI DSS by Trustwave. ISP Card had to demonstrate compliance by thoroughly validating its adherence to a comprehensive range of security policies and procedures. To maintain their compliance, ISP Card has enrolled in the Trustwave “TrustKeeper” on-demand compliance management solution to access the necessary tools to support on-going compliance such as quarterly network vulnerability scans. Additionally, ISP Card passed multiple network penetration tests to ensure proper security controls were in place to protect its organization from attacks by data thieves hoping to obtain confidential data.

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Ground Labs Joins PCI Security Standards Council

Ground Labs security and auditing software solutions for the payment card industry it has joined the PCI Security Standards Council. As a Participating Organization, Ground Labs will work with the Council to evolve the PCI -DSS and other payment card data protection standards. Also, it will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards, become part of a growing community that now includes more than 600 organizations and can make its voice heard in protection against data criminals.

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ProPay Debuts m-Payment Smartphone App

ProPay Merchant Services, End-to-End Payment Security, credit card processing, and electronic payment services introduced its “Zumogo” social mobile payment (m-payment) platform. Facilitating payments and bi-directional communication between merchants and consumers, “Zumogo” markets to new and existing customers, allowing them to communicate with and make payments to businesses through their Smartphone. With this, no sensitive payment data is stored on the customer’s Smartphone or in the merchants’ systems and users can leave their payment cards at home because businesses can expedite the payment and checkout processes.

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Intuit Develops mPayment App for Android 3.0

Among the first app being developed for Android 3.0 “Honeycomb” is the Intuit “GoPayment,” which lets anyone who sells products or services get paid via mobile devices. The “GoPayment” app makes it easier and quicker for people and businesses selling products or services to process credit card payments no matter where they are. It lets users save time by photographing products and storing details to create a visual product list to quickly take customer orders; drag and drop frequently sold items from a product list; work within an easy-to-view, large-screen environment; find items in a product list or locate past transactions using new search capabilities; and authorize transactions with touch screen signature.

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