Fiserv Marketing Website Deploys Marketing Tools

The Fiserv online payment marketing website has been enhanced to provide financial institutions that use the “CheckFree RXP,” “Paytraxx” or “ZashPay” access to marketing materials. These materials can be used to support marketing and channel management and include primary market research from Fiserv, marketing planning and execution guides, interactive online tools and creative campaigns. The campaigns and materials available through the marketing website are based on more than a decade of Fiserv investment in research on online banking and payment behavior, including segmentation, adoption trends and the response of consumers to various creative appeals. Financial institutions that took advantage of one or more Fiserv-developed online bill payment marketing campaigns saw active users grow an average of 21% to nearly 32%, versus an average growth of 16.5% for non-marketers.

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Payment Data Systems Sees Highest Payment Volume

Payment Data Systems electronic payments solutions processed the highest credit card dollar volume in October than any month in 2010. With this, combined with November figures, the Company is projecting the totals for the fourth quarter will be the best of the year and for a 15-20% increase over the previous quarter. This growth is thanks in large part to the makeup of our client base which is predominately large recurring billers like insurance companies and the fact that we have fewer retail merchants in terms of volume. Also to thank are the increases in continuing sales efforts.

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Wincor Nixdorf Introduces Anti-Skimming Module

Consumers are largely unaware of major security threats at ATMs and popular fraud tactics such as ATM card skimming, but would switch banks if another institution demonstrated it provided more secure ATMs. This, despite an overwhelming concern about ATM fraud and according to a recent Wincor Nixdorf survey and the Secret Service, also showed skimming causes $350,000 in monetary losses each day and is occurring five times more frequently this year than ever before. In response, Wincor has also introduced its “Anti-Skimming II Module” to thwart attempts to steal card data at ATMs when skimming devices are attached to the card entry slot and the customer’s PIN is stolen. It recognizes a wide variety of skimmers when they are mounted on the ATM and disrupts them in their attempts to read card data. If a suspicious device is detected, the system initiates a silent alarm. Follow-up actions, such as video monitoring and recording, can also be triggered.

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Host Merchant Services Partners With imSMB

Credit card payment processing firm Host Merchant Services has announced a new strategic partnership with small business web hosting company imSMB to provide merchant accounts and related services to imSMB’s customers. Specific terms of the deal have not been made public. Host Merchant Services offers discount credit card processing rates and has recently attracted a number of web hosting firms as clients. imSMB is a hosting provider which focuses on delivering turnkey web hosting packages custom website designs to the small and medium sized business (SMB) market. In addition to web hosting services the company also offers complete step-by-step solutions for website design, SEO, training, iPhone development and online marketing.

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InsurCard Receives International Recognition

The InsurCard Prepaid Visa Card was recently honored at the OSCARDS Award ceremony, named the 2010’s Best International Prepaid Card. A panel of experts selected InsurCard as one of the night’s 15 winners, which were chosen from a list of 64 nominees. The InsurCard Visa is designed to make claims simpler for both the insurance companies and the policy holder. The card is geared towards worker’s compensation, casualty, and property insurance claims, is able to be activated and loaded while an adjuster is in the field with a claimant and are reloadable for ongoing claim payments. It works as a debit card and can be used at millions of ATMs, banks, and merchants worldwide, wherever Visa Debit cards are already accepted.

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Tyfone Builds Patent on mTransaction Platform

Tyfone unified mobile secure transaction infrastructure for mobile banking, mobile identity management, and mobile contactless NFC payments has been awarded its second patent of 2010. This one protects its “u4ia” mobile electronic wallet technology. The Mobile Secure Transaction platform addresses high assurance identity authentication and secure access to electronic wallet information even if the mobile phone is not connected to the network at the time of transaction. Apart from secure wallet information access benefits, the algorithm authenticates a user without the pitfalls of password hacking because there is no local storage of direct hashed password or password in the clear. The mobile secure transaction platform let commerce stakeholders secure mobile transactions both online and offline at point-of-sale.

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HYPERWALLET

hyperWALLET global payment solutions has expanded its payment network into the Russian Federation, extending the company’s proprietary interlinked ACH clearing capability to 45 countries worldwide. Concurrent with this expansion is the company’s support for payment processing in roubles, and the establishment of an operational subsidiary in Moscow. With the addition of Russian roubles, hyperWALLET now supports transaction processing and payment distribution in 24 currencies. And with a Russian language localization of hyperWALLET’s web and mobile application interfaces now available, branded payment services can be readily launched in any of 13 languages.

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Citi Appoints Vice Chairman, Global Banking

Dr. Peter Orszag has been appointed with Citi as a Vice Chairman in its Global Banking business. Most recently Director of the Office of Management and Budget (OMB) under President Barack Obama and currently a visiting fellow at the Council on Foreign Relations, Dr. Orszag will be a member of the Senior Strategic Advisory Group. Prior to his role in OMB, Dr. Orszag served as the Director of the Congressional Budget Office (CBO), supervising the agency’s work in providing objective, nonpartisan, and timely analyses of economic and budgetary issues. He graduated summa cum laude in Economics from Princeton University and obtained a PhD in Economics from the London School of Economics, which he attended as a Marshall Scholar. He is a member of the Institute of Medicine of the National Academies of Sciences and the Council on Foreign Relations.

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Aircell Partners to Launch SkyMall.com on Planes

Aircell has partnered to make available SkyMall.com at no charge on nearly 850 Gogo equipped aircraft on AirTran Airways, Alaska Airlines, Delta Air Lines, US Airways and United Airlines. This will let customers shop from over 300 retailers and over 22,000 products from SkyMall with no internet access charge. And for a limited time, customers who spend $125 or more on merchandise with SkyMall via Gogo will earn a free Gogo flight pass valid on any Gogo equipped flight. With Gogo, passengers can shop from SkyMall; browse the Web; access online music, games and podcasts; send and receive e-mail; and connect to virtual private networks while flying. The easy-to-use service provides passengers with full internet access on any Wi-Fi-equipped laptop or personal electronic device at speeds similar to wireless mobile broadband services on the ground.

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Credit Outstanding Down 8.5%, Bankruptcy up 14%

The numbers are out showing consumer credit continued its decline for a
26th consecutive month, down another $4.5 billion as of October, to
sit well below $900 billion in October and down 8.5% since the year ago
period. Coincidentally, bankruptcy cases filed in federal courts for
fiscal year 2010 as of September 30 totaled 1,596,355, up 13.8% over
total FY 2009 bankruptcy filings of 1,402,816. Moreover, revolving
credit outstanding was down 13% in September 2009 to $806.1 billion and
was down 12.4% in October 2009 to $865.8 billion, when personal
bankruptcy cases totaled only 1,344,095, according to the Administrative
Office of the Courts. Since peaking at a revised $975.2 billion in the
third quarter of 2008, Americans have chopped-off more than $170 billion
in revolving credit to-date. In doing so, they filed nearly 3 million
bankruptcy cases. Also, this year saw the most filings since 2005 when
there was a rush to file prior to the implementation of the Bankruptcy
Abuse Prevention and Consumer Protection Act in October 2006. According
to new and revised data released by the Federal Reserve, revolving credit
declined at an annual rate of 9.3% in October, following a revised 10.5%
decline in September and a 10.6% drop in August. In September revolving
credit declined to a revised $806.1 billion and to a revised $810.0
billion in August. March 2009 posted the largest contraction over the
past 24 months, dropping more than $14 billion(CardFlash Library,
2010/12/09).

BANKRUPTCY FILINGS
Total VS Personal
2010 1,596,355 1,538,033
2009 1,402,816 1,344,095
2008 1,042,993 1,004,342
2007 801,269 775,344
2006 1,112,542 1,085,209
Source: Administrative Office of the Courts;
For complete historical data, visit CardData (www.carddata.com)

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The Bancorp InsurCard Prepaid Card Awarded

The Bancorp Bank Payment Solutions Group’s “InsurCard Visa Prepaid Card” was honored as the winner of the “Best International Prepaid” category at the OSCARDS award ceremony in Paris. The “InsurCard” offers great benefits for insurance companies as the card enables the insurer to control payments and ensure on-time payments to claimants that are in a difficult position. An injured worker or a displaced homeowner can access their funds immediately anywhere that Visa debit cards are accepted. The OSCARDS recognized extraordinary innovation in bank card applications for 15 winners from a shortlist of 64 nominees from the 500 new cards listed in the 2010 Innovative Cards Report. Winners were chosen from a panel of international experts in the field of card payments.

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MoneyGram Makes $75 Million Debt Prepayment

MoneyGram International payment services will make an optional $75 million prepayment on its tranche B term loan under the senior secured credit facility. The loan payment will be made Friday, Dec. 10, 2010. With this, MoneyGram International will have paid $165 million toward its outstanding debt obligation in 2010 and a total of $352 million since Jan. 1, 2009. This represents a 35% decrease in the company’s total outstanding debt since Jan. 1, 2009. MoneyGram International is focal on letting consumers who are not fully served by traditional financial institutions meet their financial needs.

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