OPTIMUM

Hypercom is set to deploy its Optimum payment terminals for Credit Agricole volume payments. Holding a 28% French market share of household accounts and the top bank for businesses, Credit Agricole has begun rolling out an estimated 25,000+ Hypercom “Optimum” card payment terminals to merchants. This mass deployment that will continue into 2011 to further expands the Hypercom footprint and represent a significant endorsement in Europe.

Details

Cardtronics Deploys i-design ATM Advertising

Cardtronics retail ATMs has signed a multi-year agreement with UK-based i-design “atmAd” marketing platform for self-service devices to bring immersive
third-party advertising to its ATMs. Cardtronics will launch advertising on approximately 2,200 of its Vcom financial kiosks in 7-Eleven stores in the
United States after recently offering third-party advertising on about 800 ATMs operated by Bank Machine, Cardtronics’ United Kingdom subsidiary. With this,
i-design will sell ATM advertising space to third-party brands on behalf of Cardtronics allowing them to place their messages on the ATMs equipped with the
“atmAd” software in both the United States and the United Kingdom.

Details

Metro Bank Launches Payment Service

Metro Bank introduced its “Pay Anyone” free feature online bill pay service, allowing people to send personal payments to anyone with a U.S. bank account just by using the recipient’s e-mail or cell phone number. Payments are sent directly from the sender’s bank account to the recipient’s bank account and can be deposited in as fast as one business day. The “Pay Anyone” service includes quickly and easily sending money to children in college, collecting money for group gifts, splitting the bill for dinner or paying the babysitter. Metro Bank’s online banking service enables customers to instantly access their account information; transfer funds between Metro accounts; view 18 months of electronic account statements and bill-pay history; apply for a loan and more. Metro’s online banking customers used free bill pay to pay nearly 730,000 bills in the first ten months of 2010.

Details

Fundtech to Offer AmEx Foreign Exchange

Fundtech global transaction banking is set to implement American Express “FX International Payments” services to provide integrated international
payments capabilities to its “PAYplus USA” clients. The “FX International Payments” offering gives both corporate and financial institutional clients the
ability to send and receive payments in foreign currency. Banks using “PAYplus USA” for domestic wire transfers will have integrated international payments
capabilities with straight through processing (STP), enabling them to benefit from operational efficiency. American Express will offer competitive foreign
exchange (FX) rates and fees, through its service integration with “PAYplus USA” as well as provide clients with access to its dedicated customer service.

Details

Discover Donates to Florida Boys & Girls

Discover Financial Services will be awarding a $100,000 grant benefiting the Boys & Girls Clubs of Miami-Dade and Broward counties to upgrade and enhance their current facilities and to provide scholarships for children to enroll in the Clubs. Some of the Club enhancements include building an imagination career room where young children can act out all sorts of jobs. Funding will also support scholarships for many children to enroll in Boys & Girls Clubs for free. Discover has partnered with local Boys & Girls Clubs across the country providing them with funding for after school programs and other initiatives that keep children off the streets and in a safe learning environment.

Details

O Bee CU & FrontStream Launch Card 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. This represents a model for other financial institutions to support non-profits in their communities in similar fashion, in which monies collected are deposited directly into the non-profit accounts, so donations can be tax deductible from any institution’s Visa or MasterCard credit cards or Visa debit cards. The processing system exceeds security requirements set forth by all major credit card companies for safe transaction data security.

Details

Discover Official Partner of the NHL

Discover Financial Services and the National Hockey League (NHL) have inked sponsorship partner agreements naming Discover as an Official Partner of the NHL in the U.S. The sponsorship also designates Discover as the Official Card of the NHL, NHL All-Star Weekend, NHL Winter Classic, NHL Awards, and the NHL Entry Draft. This ultimately gives Discover extended opportunities to engage with U.S. hockey fans nationwide and develop exclusive hockey-themed rewards opportunities and experiences across various NHL special events. Not only will this offer Discover cardmembers “Cashback Bonus” reward redemption for discounts to Shop.NHL.com and the NHL Powered by Reebok store in New York City, GameCenter Live subscriptions, autographed NHL merchandise, and more, also one lucky Discover cardmember will have the opportunity to spend a personal day with the Stanley Cup.

Details

FISERV

The Business Services sector has seen some recovery in Q3 due to an uptick in demand for financial solutions, processing services, and person to person payment systems. After reining in spending during the recession, many financial institutions are starting to expand their budgets. Some of this spending is anticipated to go towards IT which should benefit some companies within the Business Services sector. While this increase in spending is a good sign for the entire sector, weakness in check processing and lending solutions offset some of the sector’s Q3 growth.The payment services and credit card segment of the Business Services sector has experienced a slight recovery as well. After decreased consumer spending limited transaction revenues during the recession, companies are beginning to see an uptick in credit and debit card spending. Emerging markets have been the primary source of strength as burgeoning middle classes around the world begin to shift toward using cards to pay for goods and services instead of cash. Register now at https://stockcall.com/development/stockcall/page.php?name=register.html to have free access to our reports on the business services industry.

Details

Credit Card Chargeoffs Stay Over 10%

Credit card chargeoffs stay on the wrong side of the 10% threshold while delinquencies improved for the ninth straight month. Late stage delinquencies decreased by 6 bps to 3.5% and early stage delinquencies were also down by 1 bps to 4.61%. This, according to the latest Credit Card Index results from Fitch Ratings, also indicated monthly payment rate (MPR) performance continues stability, but slowed slightly in September for a small decrease of 15 bps to 19.65%. MPR still represented a 9% increase compared to the year ago period and is at the third highest level since the beginning of 2008. According to CardData.com, the credit card charge off rate took a steep nosedive from 10.03 in August to 8.9% after having skyrocketed to 10.93% in March of 2010, after having soaring past the 6% mark in December of 2008, the 8% mark that following spring, and finally the 10% mark in September of ’09. This comes as a relief to rampant fear last year credit card-backed securities would realistically near 12% by this time. Also, average charge-offs for the first quarter were an unprecedented 10.93%. Charge-offs are expected to continue declining into 1H/11, thanks to credit card issuers having already written off balances from borrowers with weak credit over the past couple of years and tightening underwriting standards. For complete details on credit card charge-offs visit Carddata.com (www.carddata.com).

COFS HISTORICAL
Jun/08: 5.3%
Sep/08: 5.5%
Dec/08: 6.0%
Mar/09: 8.7%
Jun/09: 9.5%
Sep/09: 10.1%
Dec/09: 10.6%
Mar/10: 10.93%
Jun/10: 10.28%
Sep/20: 10.19%
Source: CardData
(www.carddata.com)

Details

7-11 Lets Customers Pay Bills Online

PaymentVision and PayNearMe have teamed to make paying for remote transactions with cash as convenient as stopping by a local 7-Eleven® store. The PaymentVision and PayNearMe solution provides consumers with a method of payment that is simpler to use and often far less expensive than current payment alternatives, such as pre-paid debit cards, walk-up bill pay or money orders sent by mail. With PaymentVision’s universal ACH (electronic checks) and credit card gateway incorporating PayNearMe’s cash-payment technology and the ubiquity of 7-Eleven’s nationwide, billers, financial institutions, commercial customers and municipalities can now better accommodate cash consumers.

Details

AmEx VIP Recognizes Government Contracts

American Express OPEN, the small business division of the financial services company, recognized three small business owners. Award winners present at the event are being recognized in the categories of Government Contractor of the Year, Woman Contractor of the Year and Teaming Contractor of the Year. Nominees for the VIP awards were selected in collaboration with partners, Business Matchmaking (www.businessmatchmaking.com), Women Impacting Public Policy (WIPP) (www.giveme5.com) and SCORE “Counselors to America’s Small Business” (www.score.org). The winners are Contractor of the Year awarded to Jennifer Bisceglie of McLean; Woman Contractor of the Year awarded to Charlene Turczyn of Springfield, IL-based CMW and Associates Corporation, a federal consulting firm providing professional services to the federal government in the form of information technology, construction management and e-learnings. Revenues from government contracting in 2010 are estimated at $5.9 million; and Teaming Contractor of the Year awarded to Judy Sheppard of Vienna, WV-based Professional Services of America.

Details

MINT

Mint prepaid card products with Carta have completed the non-brokered private placement of 1,600,000 units to Carta Solutions S.A. for proceeds of $200,000. Each unit consisted of one common share and three-quarters of a common share purchase warrant. This private placement was announced on October 5, 2010. Carta had previously invested $550,000 on July 6, 2010 comprising 4,400,000 units consisting of one common share and a half of a common share purchase warrant. In both placements each whole common share purchase warrant is exercisable for $0.15 until April 30, 2012. In addition, Mint also announced today that it has borrowed $500,000 from Carta Worldwide Inc. for working capital purposes. The loan is repayable in 12 equal monthly installments of principal and interest at 10% per annum. Carta Worldwide Inc. is a subsidiary of Carta Solutions S.A.

Details