Ixaris Launches Open Payments Platform

Ixaris global electronic payments has introduced its “Ixaris Opn” application development and operating platform on the Visa, MasterCard and Swift networks. Allowing banks to tap payments online and developers to create payment applications for specialized market segments, “Ixaris Opn” lets clients offer their customers payment services through a publicly-accessible application development and operating platform. The platform avoids cumbersome integration with banks’ own IT systems, thereby freeing them to bring new payment services to market. The development community can use the platform to create customized payment apps that can incorporate mainstream payment networks such as Visa or MasterCard prepaid cards, and bank transfers via SWIFT. Ixaris specializes in developing innovative global applications based on Visa and MasterCard prepaid card schemes with payment applications offering easy access to electronic payments for consumers unwilling or unable to access credit card services.

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Acculynk Internet PIN Debit Grows Y/Y

Since Acculynk introduced its “PaySecure” software-only service for PIN debit payments on the Internet, providing consumers the choice to authenticate their online transaction with their bank-issued PIN on its graphical PIN-pad, the service has grown exponentially. The service now encompasses partnerships with nine U.S. EFT networks that are making “PaySecure” available across their issuer base. With this, banks can reduce fraud and charge-backs, simple enablement, and increased transaction volume from security-conscious consumers, and those that prefer PIN debit or have PIN-only debit cards, has led to the adoption of PaySecure by thousands of issuers. Acculynk is now building on its “PaySecure” Internet PIN debit product to provide more features and extensions.

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General Patent Settles Contactless Card Suit

General Patent Corporation (GPC) patent licensing and enforcement firm on behalf of Leighton Technologies settled a lawsuit regarding the latter’s six “Contactless Cards” patents with Amherst, N.Y.-based AllSafe Technologies. With this, AllSafe agreed to settle its lawsuit with Leighton Technologies and take a license for the Leighton patents as the result of the settlement of a declaratory judgment lawsuit, Allsafe Technologies, Inc. v. Leighton Technologies LLC, U.S.D.C., Western District of NY (Buffalo), 1:10-cv-00077. HID Global Corporation of Irvine, Cal., and Oberthur Technologies Group of Levallois-Perret, France, had previously signed non-exclusive licenses for the Leighton patents.

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Fifth Third Inks Wyoming Bank Processing

Wyoming National Bank has signed a contract with Fifth Third Processing Solutions for electronic funds transfer services that include ATM and debit card transaction processing, fraud protection and debit card portfolio marketing. The Fifth Third Processing Solutions’ product suite also includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, credit issuing and processing services, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, rewards programs and other consultative services.

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Epicor Named Number One POS Vendor

Epicor Software enterprise business software solutions has been named the leading vendor of POS software to top specialty soft goods retailers in “A Retailer’s Guide: POS Software” for Softgoods Retailers. The report evaluated vendors of POS software installed among the top 250 retailers in the specialty soft goods space and ranked the top 10, with Epicor topping the list. Vendor rankings were based on the following criteria: Number of POS licenses, the combined revenue of their customers, and total number of customers in the top 250. When it comes to POS software solutions for soft goods retailers, the report found Epicor has more retail clients, installations, and managed retail revenue than Micros, Oracle, JDA, SAP, or any other POS software provider.

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AmEx and HandsOn Kick off Philanthropic Project

American Express has introduced its ‘Travel with Your Mind’ philanthropic program in the Twin Cities. Designed to help support schools through a series of travel-themed beautification projects and multi-cultural initiatives across several U.S. cities, ‘Travel with Your Mind’ is inspired by its ongoing commitment toward education and desire to promote cultural awareness, American Express, working with HandsOn Twin Cities, selected Capitol Hill Magnet School as the 2010-2011 beneficiary, at which the first project in the Twin Cities will take place on Saturday, October 16, the first of the three projects planned during the 2010-11 school year. With Delta Air Lines employees, local parents, students, teachers and community members, the initial project will oversee painting globally-themed murals, landscaping school grounds, and installing woodchip barriers, bike racks and benches.

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Chase Card Credit Loss Drops $3.5b Y/Y

JPMorgan Chase reported 3Q/10 net income of $4.4 billion, an increase of 23% compared with $3.6 billion in the third quarter of 2009 and with $2.7 billion in the second quarter of 2009. Chase Card Services reported a net income of $343 million compared to a loss of $303million last quarter and loss of $672million loss the year ago quarter. Chase Card Services reported net revenue of $4.3million, compared to $4.2million last quarter and 5.2million the year ago quarter. Additionally, the division reported a provision for credit losses of $1.6 billion, compared with $5.0 billion in the prior year and $2.2 billion in the prior quarter, thanks to lower net charge-offs and a reduction of $1.5 billion to the allowance for loan losses due to lower estimated losses. Meanwhile, the net charge-off rate was 8.87%, down from 10.30% in the prior year and 10.20% in the prior quarter; the 30-day delinquency rate was 4.57%, down from 5.99% in the prior year and 4.96% in the prior quarter.

CHASE NET INCOME
3Q/08 $292 million
4Q/08 -$371 million
1Q/09 -$547 million
2Q/09 -$672 million
3Q/09 -$700 million
4Q/09 -$306 million
1Q/10 -$303 million
2Q/10 $343 million
3Q/10 $735 million
Source: CardData.com

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Discover & FNBA Ink Merchant Acquiring Agreement

Discover Financial Services has signed a merchant acquirer agreement with First National Bank Alaska, allowing the Bank to accept Discover cards through its entire merchant portfolio. The agreement provides an integrated package for merchants to accept Discover and benefit from the millions of cardmembers and billions in spending each year and completes a multi-year effort to secure agreements and implement merchant acquiring programs with all of the top 100 merchant acquirers in the United States. This milestone means Discover is now accepted at millions more merchant locations than ever before for cardholder use across the country.

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Citi Deploys AhnLab Online Banking Security

AhnLab integrated security solutions has added the Korea operations of Citibank to its client roster. AhnLab Online Security offers banks online banking protection. CitiBank Korea has adopted the four key products which comprise AOS: AOS Secure Browser, AOS Anti-Virus/Spyware, AOS Anti-Key Logger, and AOS Firewall. They act in harmony to block even the most sophisticated intrusion attempts such as web modulation and memory hacking. With AOS defending against cybercriminals, CitiBank Korea is expected to provide protection for its customers against all kinds of threats such as ZeuS and any other malicious codes.

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TSYS Promotes Account Executive VP

Allen Pettis has been promoted to Executive VP, Major Account Relationship Management with TSYS. In his new role, he will oversee major client relations and TSYS Loyalty and Prepaid value-added products and debit. Having first joined the company 24 years ago, he was previously responsible for the commercial card division as well as all production areas of support, card services and authorizations. He is on the Board of Junior Achievement of the Chattahoochee Valley and is actively involved with the Children’s Miracle Network. Pettis holds a bachelor’s degree in business administration with a concentration in production management from Columbus State University, and graduated from the University of Oklahoma’s Bank Card School.

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National Credit Score Drops 2 Points Q/Q

For 3Q/10, national credit scores average 666, down two points since 2Q/10 and three points since January 2010, but several MSAs have seen a credit score decline greater than the national average since 2Q/10. These MSAs include Chicago, down three points from 679 to 676; San Diego, down four points from 690 to 686; and Houston , down five points from 667 to 662. These findings, from CreditKarma.com’s “U.S. Credit Score Climate Report,” also showed consumers with an account have paid down their credit card debt by four percent since 2Q/10, and five percent since January 2010, with consumers in Wisconsin and Idaho lowering their credit card balances the most. Credit card debt in Wisconsin is down 21 percent and Idaho is down 10 percent since Q2 2010. The average consumer with an account in September had $7,526 in credit card debt; $174,456 in home mortgage loans; $51,223 in home equity; $15,122 in auto loans; and $28,425 in student loans.

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NCR Launches ATM Deposit Technology

NCR Corporation is now making no-envelope deposits twice as fas with its “Scalable Deposit Module (SDM)” technology for NCR SelfServ ATMs. Allowing users to deposit a total of 50 notes of cash and checks through a single transaction and deposit slot, “SDM” cuts ATM deposit transactions in half. The technology works with the NCR “SelfServ 30” series of ATMs and is available immediately to U.S. financial institutions. Further, “SDM” ATMs truncate checks and store them in the safe, eliminating the need for daily pick up, and use a simple media path that reduces jams and features intuitive LED indicators to make it easier for bank staff to service the module without a maintenance call.

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