mUv

For last minute gift ideas, mUv is urging shoppers to log onto www.muvexperiences.com, order a “Weekend eCertificate” from and have it sent directly to their gift recipient. Each themed Weekend eCertificate from mUv is redeemable against one of a selection of experiences in locations across Canada. The certificate recipient chooses himself his all-inclusive experience online, books it by phone and redeems the eCertificate against the selected package, on location. There are 9 themes and more than 500 experiences in dining, getaways, wellbeing or outdoor activities to choose from, starting at $39.99. Offer a mUvWeekend Spa eCertificate to your spouse, a Charming Hotel to your parents or an Extreme to your teenager; you’ll give them all memorable moments they’ll thank you for, long after Christmas is gone.

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Credit Union Credit Card Outstandings Up 4.4% Y/Y

Third quarter 2010 credit union credit card portfolio trends indicate outstanding credit card balances grew at an annual rate of 4.4% between September 2009 and September 2010 to $35.2 billion. This is a slower rate of growth compared to the September 2008-2009 cycle rate of 7.9%. With this, card accounts grew at a 1.76% annual rate over the same period to 13.1 million and cards as a percentage of total assets accounted for 4.4% for no change from the third quarter of 2009. This, according to AssetExchang analysis, also shows credit card penetration continues to trend near 17% while among credit unions with card portfolios larger than $1 million, there were two card portfolios sold with a combined balance of approximately $12 million.

Credit Card Key Performance Indicators
US Credit Unions
SEP06 – SEP10
SEP06 SEP07 SEP08 SEP09 SEP10
Balance Growth 12.41% 16.27% 14.72% 7.92% 4.40%
Account Growth 3.39% 5.44% 4.33% 3.83% 1.76%
Cards as % of
Total Assets 4.07% 4.38% 4.57% 4.44% 4.43%
Penetration 16.52% 16.91% 16.94% 16.83% 16.92%
Average Balance
Per Account $ 2,070 $ 2,282 $ 2,510 $ 2,609 $ 2,676
Credit Line
Utilization 28.35% 29.17% 30.63% 31.35% 32.56%
Charge-Offs
(annualized) 1.53% 1.57% 2.49% 4.18% 4.31%
Delinquencies
(60+ DPD) 1.32% 1.18% 1.63% 2.01% 1.64%
Source: NCUA, AssetExchange, Highline Financial

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LifeLock Proudly Hits 2 Million Customer Mark

LifeLock now helps protect nearly 2 million Americans from the growing threats of identity theft using its state-of-the-art LifeLock Identity Alert™ system. Using multiple technologies and data sources, the LifeLock Identity Alert™ system helps better defend members against the inherent risks of identity theft by searching more than 45 million data points daily. The advanced detection system has helped stop more than 13,000 potential identity theft threats in 2010. This advanced detection system can identify fraudulent applications for many forms of both credit and non-credit related services.

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AmEx & NBA Ink Multiyear Marketing Partnership

The NBA and American Express have partnered to forge a multiyear marketing partnership covering the NBA, USA Basketball, the Women’s National Basketball Association (WNBA), and the NBA Development League (NBA D-League). This revisits their partnership initially agreed on between NBA and American Express from 1995 to 2005 to provide Cardmembers exclusive experiences and access to regular-season and playoff games, and premier NBA events such as NBA All-Star, the NBA Draft, and NBA Games – London 2011, the league’s first-ever regular-season games in Europe. As an Official Partner of USA Basketball, American Express will also provide packages to USA Basketball games and events staged in the U.S. and internationally.

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Royal Caribbean Cruises to Implement Agilysys POS

Royal Caribbean Cruises in Miami has selected the Agilysys “InfoGenesis POS” system for deployment on an additional seven Royal Caribbean ships, for a total to 30 vessels that use Agilysys software solutions. The “InfoGenesis” POS system is an award-winning point-of-sale software solution that combines powerful reporting and configuration capabilities in the back office with an easy-to-use touch-screen terminal application. Designed for multi-unit operations common in hospitality environments, the system can manage any combination of dining, bar, cabin service and gift shop operations. Features include real-time reporting capabilities, packages and prix fixe menus, signature capture, multi-language capability and advanced sorting, filtering and grouping options.

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O Bee FCU & Frontstream Pioneer Card Charity

O Bee Credit Union has partnered with Frontstream Payments to make available online charitable donations to help feed the hungry. Credit card donations are made securely via Obee Credit Union’s website and 100% of the donations go directly to the charity. O Bee Credit Union and Frontstream Payments have partnered to bring credit card processing of charity donations to a financial institution’s web site — specifically, food banks and other non-profits that might not otherwise have the online technology to accept gifts in this manner. FrontStream Payments provides payment products and services to small and medium-sized businesses and independent credit card sales organizations.

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34% of Small Business Owners Use Smart Phones

A third of America’s small business owners are using smart phones these days, most of whom put the devices to work for business needs beyond e-mail and phone calls. Meanwhile, 19% of small business owners have taken or are currently taking actions to make it easier for mobile users to access their businesses; 34% use a smart phone device; 33% use the devices “very much,” 41% use it “somewhat,” 21% said “not much” and 3% said “not at all.” This, according to the Discover “Small Business Watch,” also shows 44% wished there were better mobile applications available to small business owners, 20% weren’t sure and 35% expressed no desire for more applications. Interestingly, 100% of small business owners ages 18 to 29 use their devices “somewhat” or “very much” for business, beyond phone calls and e-mail, but age wasn’t a huge differentiator in smart phone usage among small business owners, with more people in their 30s using them than in other age groups.

SMARTPHONE USE
AGE GROUP/USAGE
18-29 35%
30-39 44%
40-49 36%
50-64 27%
65+ 16%

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CLEAR Deploys Gift Cards

CLEAR biometric-based secured identification program for airports is now available as a gift membership. With this offer, a first-year CLEAR membership or gift membership costs only $155 if purchased with a MasterCard by January 29, 2011, representing a discount of about 15%. CLEAR’s exclusive, dedicated paths to security screening lanes offer members speed, efficiency and predictability using biometric identification. First, members enroll online at CLEARme.com then, in person at a CLEARcube enrollment center, a CLEAR attendant authenticates the customer’s passport and secondary photo ID, fingerprints and iris image.

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SCA February Summit Highlights mPayments

The Smart Card Alliance 2011 “Mobile and Transit Payments Summit,” February 15-18, in Salt Lake City, Utah, is set to focus mutual interest on advancing these technologies. The ‘Summit’ brings together industry stakeholders to discuss current U.S. and international trends in mobile payments and transit payments. Invited speakers and attendees include mobile operators, transit operators, mobile device manufacturers, mobile services providers, chip and card manufacturers, terminal manufacturers, payment brands, issuing banks, payments processors, and systems integrators. Sessions on mobile technologies will include: NFC-enabled devices and applications supporting NFC payments; mobile marketing; peer-to-peer payments; alternative mobile payments platforms; and mobile wallets.

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FIS

E-Debit Global Corporation has received Canadian Interac Association terminal certification for its “EMV XCE 3.0.0.0” application software and “V03.00.00W” application Kernel. The Company also has been granted Interac for its ‘Switch’ certification enabling all Canadian Interac card products with the chip embedded security to be utilized in all bank machines processed through its payment processing platform. Its processing is conducted by its wholly owned subsidiary Westsphere Systems (“WSI”). E-Debit Global Corporation (WSHE) is a financial holding company in Canada overseeing debit, credit and online computer banking.

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Citi Renews Major Private Label Card Partnership

Citi announced a multi-year renewal of its long-standing U.S. private label credit card partnership with The Children’s Place Retail Stores. Citi has provided private label financing to The Children’s Place since 1994 for efficient processing to give customers flexible payment options and special credit promotions that drive increased loyalty and customer satisfaction. Retail Partner Cards, within Citi Holdings, provides consumer and commercial credit private label credit cards, for national and regional retailers across the U.S, among other cards and related services. The business services more than 40 million customers and consists of managed assets of approximately $50 billion. Citi has approximately 200 million customer accounts and does business in more than 160 countries.

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FIS GLOBAL

FIS banking and payments technology has expanded to Banco de Venezuela (BDV) with its IST/Switch, Clearing and DataNavigator solutions. The bank plans on upgrading their infrastructure to take advantage of the flexibility and scalability provided by IST/Switch that will support existing processing needs and future growth. FIS’ IST/Switch enables financial institutions to process transactions from any source including ATM, POS, Internet and mobile devices, managing interbank and internetwork processing gateways and multi-channel payment interfaces. FIS’ Clearing is a multi-card, multi-institution and multi-currency interchange solution that enables financial institutions to drive clearing operations for both issuers and acquirers, including transaction validation, editing, and qualification and clearing file generation. FIS’ DataNavigator is a comprehensive solution that collects and connects transactional data across the entire enterprise helping banks to improve customer service levels, track fraud patterns and understand customer behavior in order to manage the back-office.

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