MCA Converts Caesar ATM, POS, Debit & Credit

MCA Processing cash access products and services for the gaming industry has completed a large scale project to convert 19 Caesars Entertainment properties to MCA Processing Cash Access Services. These services include ATM, POS Debit, Credit Card Advance, Ticket Redemption and Bill Break. Among the properties converted were 9 major Las Vegas strip properties and all 4 Atlantic City properties. The conversion from Global Cash Access Holdings (GCA) to MCA Processing (MCA) began in December 2010 and was just completed.

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Hotel Sends Guests AmEx Gift Card

Woodbridge, VA hotel specials now include a complimentary American Express gift card to spend as you please with the “Shop and Stay $50 American Express Gift Card” special rate. Guests who stay two weekend nights at the SpringHill Suites Potomac Mills Woodbridge hotel will, in addition to deluxe suite accommodations, receive a complimentary $50 American Express gift card upon check-out.

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BofA Posts $529mm Quarterly Card Income

Bank of America reported second-quarter 2010 net income of $3.1 billion, compared to net income of $3.2 billion a year ago, driven by lower credit costs. Bank of America agreed to sell its equity position in MasterCard, resulting in a pretax gain of approximately $440 million to focus on its core businesses and strengthen capital ratios. Its Global Card Services net income increased $2.4 billion compared to a year ago due to declining credit costs reflecting continued improvement in the U.S. economy; Revenue decreased $401 million from a year ago, driven by lower average loans and reduced interest and fee income primarily resulting from the implementation of the CARD Act, partially offset by the $440 million pretax gain on the sale of the MasterCard position. The division also reported a net loss of $9.9 billion due to the $10.4 billion goodwill impairment charge and would have otherwise reported net income of $529 million, compared to a net loss of $955 million a year ago.

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Secondary Gift Card Economy Up to $90B

Merchant-issued — or closed loop — gift cards now represent $90 billion of the U.S. economy, of which an estimated $30 billion go unredeemed. Gift card value sold on the website exceeded $10 million, an increase of 5 times over 2009 and during the 2010 holiday season, there were 6 times the gift card sales volume over the same period in 2009. These findings, according to Plastic Jungle- which served double the registered users in 4Q/10 than in the prior year- also show consumers are now using secondary gift card marketplaces more than ever to extend their purchasing power and receive extra value at merchants. Plastic Jungle ultimately helps consumers get the most value out of gift cards by allowing them to sell unredeemed gift cards for up to 92% of the gift card value, buy gift cards at their favorite stores for savings up to 30%, or donate the value of their unused cards to their favorite cause. Plastic Jungle’s innovations have also sparked an increased interest in alternative payouts, and especially in electronic payouts, with users Amazon.com Gift Card payout transactions having jumped by nearly 30% in the days before Christmas.

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Card Sales Down for 13th Consecutive Quarter

The SBCS Report shows that “Main Street” retailers, service providers and restaurants recorded their 13th consecutive quarter of Year-over-Year credit and signature debit card sales decline in 4Q/10 of 2.56% from the previous year. This, however, was the smallest YoY decline since the 3Q/08 figure and is the fifth consecutive quarter of slowing card sales declines. This findings, according to Capital Access Network Data Services, show Main Street seems to be capturing a larger proportion of the revolving credit spend, as the decline rate of Main Street card sales is lower than the decline rate of overall revolving credit outstanding, especially in the New England and Great Lakes regions where Year-over-year card sales are actualy increasing by 3.15% and 0.89%, respectively. Additional findings show restaurants increased card sales 1.80% in 4Q/10; smaller MSAs continue to show stronger YoY card sales trends than both rural and larger urban MSA; and ‘Main Street’ businesses that have been in operation 10 to 15 years reported card sales declines of only 1.01% for 4Q/10 since the prior year, compared to overall declines ranging from 2.41% and 3.14%.

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RDM Integrates Mobile RDC Solution

RDM Corporation software and hardware products for electronic payment processing has expanded its “Simply Deposit Mobile” product and integrated it with its RDC platform. Currently available for the iPhone, and shortly be available on BlackBerry, the “Simply Deposit Mobile” is the RDC solution for businesses with a mobile workforce collecting payments in the field and extends RDC to the actual point of initial check receipt. It combines RDM’s patent-pending mobile image processing technology with RDM’s patented remote deposit products to provide a complete RDC solution for both small and large corporate users.

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OPEN SCAN Processes 1 Millionth CPS Check

Crop Production Services (CPS) processed its 1 millionth check through OPEN SCAN’s Receivables Process Management Solution. The solution is fully integrated with an existing POS application and provides each branch with a wide range of customer service capabilities. it provides electronic deposit and POS services; cuts-out lockboxes & over-night couriers; and make available faster credit availability to customers. OPEN SCAN’s RDC has saved CPS more than $3.5 million a year in DSO costs alone, along with lockbox and courier fees. Open Scan Technologies develops enterprise receivables process and automation management software for corporations which receive electronic or paper payment and remittance documents.

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Orderman Introduces its POS Hardware

Orderman technology for the European hospitality industry has rolled-out the Columbus POS products for restaurants, starting with its “Columbus 700.” Featuring a fanless cooling system, robust storage capabilities and Intel mobile chipset technology, the Columbus POS is ultra efficient on its ultra-low voltage processor. With this, restaurants which choose to implement four of the terminals, for example, could reduce power usage by as much as 50%. The POS is offered in combination with CareGold service and support.

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VeriSign Extends Livelenz EV SSL Certificate

Livelenz SaaS POS data analytics provider has implemented the VeriSign EV Secure Socket Layer (SSL) Certificate for its internet security. Establishing a secure session link between the QSR franchisees’ web browsers and the Livelenz.com, or Sublive.com, data analytics portals so that all communications transmitted through the link are encrypted and secure, the VeriSign encryption acts as a door lock. The door does not open unless you have the right key. One key is used to encrypt the information in an unrecognizable order and a second key is used to decrypt the information and restore it to its original, readable format. VeriSign is the SSL certificate provider of choice for more than 1 million Web servers worldwide.

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AmEx Announces Cardmember Fashion Week Perks

American Express has announced its Cardmembers exclusives available through the Mercedes-Benz Fashion Week. Offering unique access to some of the industry’s top names for the eighth consecutive season, the American Express fashion week is showcasing its commitment to its Cardmembers and dedication and support of the fashion industry. Packages available include access to unprecedented runway vantage points at Lincoln Center at the Skybox and the “Lobby Space” at Mercedes-Benz Fashion Week, providing up-to-the-minute fashion information and a variety of concierge-type offerings. Additionally, American Express announced its continued support of emerging designers in the industry with a $250,000 donation to the CFDA/Vogue Fashion Fund (CVFF), a program of the Council of Fashion Designers of America (CFDA).

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MBNA Ireland Launches Credit Guide Website

MBNA Ireland has launched a new section of their website with plain English guides and information about managing credit and debt at http://www.mbna.ie/understanding-credit/. The section features guides on managing credit, providing tip on how to know when borrowing is getting out of hand; managing debt to offer advice on what can be done to cut spending; healthy credit and the importance of a good credit file and what things affect a credit score as well as tips on keeping a good credit report, getting hold of your report and general credit file information; understanding credit and how it works. The new site also lets users manage their various accounts online.

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Visa Named InsurCard Preferred Card Brand

Visa has been named InsurCard’s preferred brand for the delivery of payment for insurance claims. InsurCard provides the insurance industry with card-based solutions for the payment of claims, expanding the penetration of electronic payments, giving policyholders immediate, fund delivery. InsurCard offers insurers a turnkey program that can lower payment processing costs – saving up to 85% compared to the cost of issuing checks; improve cash control; enhance fraud protection; and boost customer service. The InsurCard Visa Prepaid cards can be used anywhere Visa debit cards are accepted, including ATMs, and are protected against loss or theft by Visa’s Zero Liability(2) protection. The card is issued by The Bancorp Bank and is specifically designed to meet the stringent requirements of both the insurance and prepaid card industries.

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