Cardlytics & AccountNow Offer Transaction Marketing

Cardlytics banking transaction marketing has partnered with AccountNow prepaid debit card provider to provide highly targeted rewards to customers based on prepaid debit transactions. This partnership represents a substantial addition to the general purpose reloadable prepaid portfolio and will allow merchants to market directly to AccountNow prepaid cardholders with offers based on their own preferred spending habits. AccountNow provides alternative online banking solutions to the more than 40 million people who lack credit or traditional banking relationships. Cardlytics’ offers are presented directly beneath line item transaction records reviewed by AccountNow customers each time they visit their own online prepaid statement. Selecting the offers allows account holders to activate or “accept” rewards before redeeming them at a number of national, local and online retailers which are automatically redeemed when customers use their qualifying cards to make purchases according.

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Mamaloot to Accept mPayy Online Checking Account Payment

Online and mobile payment provider mPayy and Mamaloot daily deals site for Chicagoland moms have partnered for merchant processing. The partnership gives moms shopping for daily deals simple and easy payment options directly from their checking account without leaving Mamaloot.com. mPayy secure online and mobile payments allows merchant processing for businesses, and quick and simple checkout. Introduced last year, Mamaloot brings daily deals to thousands of local moms every day sourced from service providers and retailers throughout Chicagoland.

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VISA, MC Agree on DOJ Decree, AmEx Does Not

Subject to review and approval by the Court, Visa and MasterCard have entered into a Consent Decree with the Department of Justice consistent the Companies’ business practices. The settlement will require the associations to modify its rules to more specifically conform to its business practices after a two-year investigation of their acceptance rules and practices. With this, all ten State Attorneys General who had requested information or opened investigations of MasterCard’s merchant acceptance business practices have closed their investigations while Visa will let U.S. merchants offer discounts or other incentives to steer customers to a particular form of payment and plans to change its relevant rules. The settlement agreement does not address Visa’s rule prohibiting U.S. merchants from surcharging consumers. The NRF is welcoming the settlements ending Visa and MasterCard, which it says block discounts to retail customers. According to the NRF, Interchange fees totaled $48 billion in 2008, three times the amount collected when NRF began tracking them in 2001, and are hidden from most consumers because they are not disclosed on monthly statements. Meanwhile, American Express declined to join the settlement and is challenging its government lawsuit filed against the company on behalf of the DOJ claiming terms of American Express merchant contracts, which protect cardmembers against discrimination and disruption at the point of sale, violate U.S. antitrust laws. AmEx protests the suit is proposing to interfere with consumer choice at the check-out counter by steering American Express cardmembers to another payment network.

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Discover and FNBO Forge Issuing Agreements

Discover Network and First National Bank of Omaha credit card issuer have inked multi-year agreements allowing First National Bank to issue credit cards on the Discover network. This will provide customers a greater choice when selecting a payment method. First National Bank of Omaha has more than 600 financial institution, co-brand, and affinity partners and is a Top 15 issuer of credit cards. First National and its affiliates have $17 billion in managed assets and more than 5,000 employee associates.

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INSIDE

INSIDE Contactless contactless secure transaction chip technologies has completed the acquisition of Atmel Corporation’s Secure Microcontroller Solutions (SMS). INSIDE paid $32 million in cash after an adjustment based on the working capital of the transferred business at the closing on September 30, subject to an additional cash consideration of up to $21 million if certain earn-out targets are met in 2010 and 2011. The agreement also provides INSIDE a royalty-based, intellectual property license agreement to support current and future SMS products. In addition, INSIDE entered into a multi-year supply agreement to continue sourcing wafers from the fabrication facility in Rousset, France that Atmel recently sold to LFoundry GmbH.

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eBillme to offer Amazon.com Gift Cards

In response to gift card sales having reached $23.63 billion in 2009, eBillme online payment service using online banking and walk-in locations has partnered with ACI Gift Cards to provide consumers a cash method for purchasing Amazon.com Gift Cards through their online banking/bill payment provider. With this, customers can purchase virtual gift cards in denominations of $5–$5,000 from eBillme directly, or by accessing eBillme’s site from http://www.amazon.com/cashgcresellers without releasing any financial information. After customers go to eBillme’s website, select their gift card amount, and enter their e-mail address, A bill is sent to the customer via e-mail and can be paid using the bill pay service from one of over 17,000 banks in the eBillme network. The eBillme cash-back rewards through the eBillme Rewards program gives them 1% cash-back on purchases made using eBillme, for a minimum redemption of $10. No financial information is exposed or shared with eBillme or the merchant.

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Citi Cards Launches Button-Option Card

Citi Cards cards and payment technologies has introduced its latest way
to redeem reward points or cash rewards with its “Citi 2G” credit card.
Equipped with two buttons on its face, the “Citi 2G” card allows
customers to choose from “Regular Credit” to pay for their purchase with
credit as they normally would or the “Request Rewards” button to redeem
points or cash rewards with a simple swipe of the card. The button
activates the corresponding light to confirm the option selected at the
time of checkout at the register. The “Citi 2G” cards features a
battery, an embedded chip, two buttons, and a card-programmable magnetic
stripe. The cards will be available through a November pilot program and
manufactured by Dynamics. This will operate in the Dynamics “Redemption”
payment device in a card form-factor to give the option for in-store
point redemption. A “Payments 2.0” application built on Dynamics’ “Card
2.0” technology, “Redemption” allows consumers to pay at the POS with
credit or request to redeem their reward points or cash rewards toward
the purchase of any item at any merchant.

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Kern Schools FCU Rolls Out Fiserv Processing

Kern Schools Federal Credit Union has signed an agreement to implement the Fiserv “XP2” account processing platform. The $1.3 billion institution chose “XP2” from Fiserv to enhance technology integration and upgrade member service tools. In addition to “XP2,” Kern Schools FCU will implement a full suite of Fiserv solutions to meet the needs of its 195,000 members, including AccountCreatesm for online account opening; AML Manager for regulatory compliance; iCom for predictive cash management; Branch Source Capture for check imaging; ConvergeIT: IVR for audio response; electronic statement processing; Nautilus for enterprise content management; WireXchange for completing end-to-end wire transfers; Corillian Online for Internet banking; CheckFree RXP for online bill payment; Remittance and Check Solutions for item processing; and Mobile Money for mobile banking.

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3Delta Systems Observes Cyber Security Awareness Month

With data heists during 2009 costing companies an average of $6.75 million, or $204 per compromised customer record- up from $6.65 million, or $202 per record, in 2008- 3Delta Systems online credit card processing is observing National Cyber Security Awareness Month by releasing a free white paper containing best practices for preventing cyber criminals from accessing databases where credit card numbers are often stored. Entitled, “Stopping Data Cyberthieves in Their Tracks,” The white paper explores proven technologies and techniques for thwarting those who try to hijack, steal or destroy sensitive customer credit card and purchase-card (p-card) information housed at corporate or government data centers. The cost of dealing with the consequences of a breach rose nearly 48%.

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ABSCARD

VeriFone Systems has acquired an 80% ownership of Italy integrator and software developer All Business Solutions (ABS) from ABS’ founders and from ACI Informatica for undisclosed terms. ABS provides a single integrated technology platform and professional services for transaction-based applications including prepaid, loyalty, fare collection, ticketing and restaurant on its “ABScard” gateway and loyalty platform. The multichannel “ABScard” system is capable of processing secure transactions from mobile phones and smart phones, self-service kiosks, web browsers and traditional POS devices. ABS has developed customer solutions in multiple markets, particularly banking, transportation and hospitality. VeriFone secure electronic payment solutions meet the needs of merchants, processors and acquirers worldwide.

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MASTERCARD

MasterCard is set to kickoff its annual European “Global Risk Management Conference” in Barcelona, Spain from Nov. 1-5. The conferences will offer strategies and tactics to help ensure data security professionals anywhere in the world are up-to-speed on the payment card fraud prevention best practices. The Conferences will also consider global fraud issues and challenges specific to the respective markets. Also featured will be the MasterCard “Plastic Card Vendor Seminar,” to focus on its “Global Vendor Certification Program” and the new Card Structure and Integrity Program, as well as recent developments with contactless, near-field communication, Chip and PIN, and mobile payment card technologies.

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