CyberSource Launches eCommerce Security

CyberSource, a Visa company, has linked payment security with fraud management allowing merchants to screen orders and keep payment data out of their systems. When consumers order online from organizations employing CyberSource’s payment security and fraud management technologies, sensitive payment data (credit card number, security code, etc.) is captured through fields that are hosted by CyberSource, concurrent with the collection of necessary fraud detection data. Payment data is placed directly onto the CyberSource Level 1 PCI DSS-validated payment network, without coming into contact with merchant systems.

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USAA Bank mBanking Named Best-in-Class

USAA Federal Savings Bank was named “Best in Class” for mobile banking for the second year in a row by Javelin Strategy & Research. USAA Bank received this rating for excelling in meeting the needs of its members. USAA was the first bank in the nation to offer remote-deposit capture capability, USAA “Deposit@Mobile®,” which allows members to deposit checks with their smartphones. In August 2010, USAA launched its Auto Circle™ and Home Circle™ programs, which feature mobile applications that are designed to help USAA members conveniently find, finance and insure their vehicles and homes through one source.

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Citi to Deploy Zale Credit Card Program

Zale Corporation has selected Citibank to provide its private label credit card program. For use at Zales, Zales Outlet and Gordon’s brands in the United States, effective October 1, for a term of five years with automatic renewals for successive two-year terms. This agreement replaces the Company’s agreement with Citi which was scheduled to expire in March 2011. In connection with the agreement, payment of the merchant fee differential, due September 22, 2010, will no longer be required. Under the new agreement, the yearly minimum volume of net credit card sales has been reduced from $600 million to $315 million. Additionally, Citi will provide financial support of the Company’s marketing activities during the initial five-year term of the contract.

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Bank of America Names International Card and Affinity Head

Ralph J. Andretta has been named Global Affinity Products and International Card executive, Bank of America. With this, he will oversee the bank’s affinity credit card and deposit products portfolio as well as its international credit card businesses. Most recently with American Express as executive VP and GM of Card Member Services, which he initially joined in 1993, Andretta managed the company’s Membership Rewards program and has had extensive experience in its global operations, including serving as the chief financial officer for the company’s European business. He began his career as the director of finance for Clarkstown, New York in 1983, after which he joined Ernst & Young in 1986.

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Discretionary Spending Way up Since Last Year

American Express “Business Insights” launched its series of Q2 2010 Business Insights Spend Trends reports, which analyze changing patterns in spending across various categories, US cities and consumer groups. The four “Business Insights Spend Trends” compare regional; travel; luxury retail; and dining & entertainment performance to the year ago period. It shows luxury retail spending was up by at least 9% in each luxury retail category analyzed; dining increased by 24%, compared to a 12% increase for this group in fine dining spending; travel spending saw an overall 63% increase in spending by US consumers, with the ultra-affluent group spending 114%; and several cities saw spending increases year-over-year for the second quarter. Namely, San Francisco as a whole increased overall spend by 36% across all categories while New York City posted a slight decrease in overall spend at -3%.

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US August Economic Index Up 0.3%

A major economic index moved up again in August for the second
consecutive month. The obscure intensity and pattern of the building
recovery is becoming increasingly clouded, with the Conference Board
“Leading Economic Index” for the U.S. having increased 0.3% in August to
now sit at 110.2. This follows an increase of 0.1% in July to 109.8 and
a decrease of 0.2% in June to 109.8. The overall US “LEI” has been
rising since April 2009 and its gains have become very widespread. Five
of the ten indicators that make up The Conference Board LEI for the U.S.
increased in August. The Conference Board “Coincident Economic Index”
for the U.S. was unchanged in August, following a 0.1% increase in July,
and no change in June. The Conference Board “Lagging Economic Index”
increased 0.2% in August, following a 0.4% increase in July, and a 0.1%
increase in June.

CB LEI % +/(-)
AUG: 0.3
JUL: 0.1
JUN: (0.2)
MAY: 0.4
APR: N/A
MAR: 1.4
FEB: 0.1
JAN: 0.3
DEC: 1.2
NOV: 0.9
OCT: 0.3
SEP: 1.2
AUG: 0.4
SOURCE: Conference Board

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MoneyGram International Moves Headquarters to Dallas

MoneyGram International global payments is set to move its corporate headquarters to Dallas TX from Minneapolis MN as part of its global initiative to reduce costs and streamline global operations. Effective Nov. 1, the move will initially involve about 75 positions, growing to about 150 positions by mid-2012, to grow its current workforce of 2,600 global employees. Throughout Texas, MoneyGram has more than 3,350 agent locations. MoneyGram International has a global network of 203,000 agent locations in more than 190 countries and territories.

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Overstock.com Introduces MasterCard with Customer Rewards

Overstock.com, First National Bank of Omaha and MasterCard Worldwide have made available the “Overstock.com MasterCard” credit card. Offering enhanced rewards for Overstock.com customers, the card offers customers additional savings on Overstock.com online purchases, as well as reward dollars on other purchases made when using the card. Customers who sign up for the “Overstock.com MasterCard” credit card will receive a free membership to “Club O Rewards” customer rewards program, giving customers access to shopping events; sweepstakes; free shipping and 5% back in “Club O Rewards Dollars” on Overstock.com purchases. The “Overstock.com MasterCard,” with an additional 3% back in Club O Rewards Dollars on Overstock.com purchases, gives users a total of 8% back in rewards dollars on qualified Overstock.com purchases, plus an additional $10 Club O Rewards Dollars credit the first time the card is used.

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2Checkout.com to Provide Anchor Hocking Payment Processing

OH-based 2Checkout.com global online payment solutions will now process online payments for The Anchor Hocking Company. Anchor Hocking, a leading marketer and manufacturer of a comprehensive line of glass products for over 105 years, has launched its first direct-to-consumer sales portal using the 2Checkout payment processing platform. The partnership provides a way for Internet shoppers to purchase Anchor Hocking’s with the assurance of safe and secure payments. 2Checkout.com global payments solutions provider services approximately 60,000 online retailers, offering a fully automated suite of backend services, including multiple payment methods in multiple currencies and languages, world-class fraud protection, customer care and PCI data storage.

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Patent Office to Reexamine Card Activation Patent

Card Activation Technologies said that the United States Patent and Trademark Office has issued a Reexamination Certificate in the reexamination proceeding involving Card Activation Technology’s U.S. Patent number 6,032,859, confirming the patentability of most of the claims examined in the proceeding. Card Activation Technologies owns the patent rights to a proprietary payment transaction method used for processing gift cards and other debit purchase transactions. The company is actively seeking to license its patent to the thousands of current users and believes that many retailers, gas stations, phone companies and others that utilize those stored value cards, such as gift and debit cards, infringe its patent.

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Total Merchant Services Supports Spanish Language

Total Merchant Services credit and debit card processing service company has implemented a Spanish Language Outreach Support Program for their merchants. Enhancing communications between merchants and the merchant support team to accommodate merchants who prefer Spanish as their primary language, the program includes three important additions. These additions being all merchant application, agreement, terms, and credit card machine information will be available in Spanish; the terminal prompts that appear on the credit card machine when in use, will appear in Spanish; and in the event merchants need to contact the company’s merchant services support staff over any processing or account issue, bilingual representatives that speak both Spanish and English will be available, all for no added cost.

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Pivotal Payments Deploys Hypercom Terminals

Hypercom Corporation announced Pivotal Payments, a leading North American merchant services provider, has begun to purchase and is deploying up to 33,000 Optimum countertop and mobile card payment terminals to merchants throughout Canada over the next 36 months. The multi-million dollar rollout is believed to represent one of the largest in the country, and significantly strengthens Hypercom’s high security product footprint in Canada. Hypercom’s high security Optimum 4200 product family for North America consists of powerful 32-bit multi-application devices that share the same platform, user interface, and software toolkit to maximize efficiency, application portability, and offer customers a broad range of options to serve any market need.

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