iPhone App Available for Hillcrest Bank hmBanking

Nationally, 30% of smart phone users check their bank balances via their mobile phone, 25% regularly check their credit card transactions via their smart phones and 25% of mobile phones are smart phones. In response, Hillcrest Bank hmbanking has made available its iPhone app, allowing users to conduct online banking transactions. The free app from the iTunes store also lets customers see account balances and transaction history, receive and view account alerts, transfer money between accounts and pay bills. hMobile is free to Hillcrest Bank hNet online banking customers and allows access to checking, savings, CD or money market accounts. Information and transactions are securely transmitted via 128-bit SSL encryption technology.

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Dynamic Card Solutions Signs 550th Customer

Dynamic Card Solutions (DCS) instant issuance and PIN selection solutions for banks, credit unions and retailers that issue magnetic stripe, EMV and contactless cards has signed its 550th customer – American Eagle Federal Credit Union. DCS is working with American Eagle Federal Credit Union to implement a program that instantly issues unembossed Visa debit cards at the branch level. Looking to eliminate the wait time for members to receive a card in the mail, the Connecticut-based credit union will be implementing DCS’ CardWizard instant issue software and its FCP 20/20 flat card printers to instantly issue and activate a personalized debit card that can be used immediately when the member leaves the branch.

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Radiant Processing Software to Serve EverBank Field

Radiant Systems has signed agreements with the NFL’s Jacksonville Jaguars to implement its “Quest Venue Management” software and hardware in the concession stands and restaurants of EverBank Field. With this, Radiant will also deploy its “CounterPoint” POS for retail operations throughout the Stadium. EverBank Field will implement Radiant’s “Quest POS” software and hardware, including the wireless POS solution, within its standard and premium concessions and its three restaurants before the start of regular 2010-11 season play. The Team will also deploy the Radiant “P1515” and “P1560” wireless terminals running “CounterPoint” retail POS software within its retail and souvenir operations.

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Bank of the West Launches mBanking

Bank of the West has introduced its free-of-charge mbanking platform through nearly any mobile device, including a dedicated iPhone app available next month. This allows customers to receive account alerts through text messages, perform transfers between accounts, and check account balances while on the go. Using texting, registered customers can send simple text commands, for example to request their account balances. The CA-based $61 billion-asset Bank of the West offers a full range of business, corporate, personal, trust and international banking services through more than 700 branch and commercial banking locations in 19 Western and Midwestern states.

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AmEx OPEN Expands Small Business Savings Program

American Express OPEN announced has expanded its “OPEN Savings” program with OfficeMax, HP and Flextronics RTS’s Firedog tech support and enhanced savings with Hertz. “OPEN Savings” gives small business owners automatic savings virtually every time they use an AmEx Business Card to make purchases at any OPEN Savings partner. Firedog allows Cardmembers to save 10% on all Firedog purchases including end-to-end tech support service for computer installations, repair, PC upgrades, virus removal and all other business technology needs at www.firedog.com or 1-800-FIREDOG. Meanwhile, Hertz offers members 10% off and 5% on purchases when spending between $500 and $2,500 a year and 10% on purchases when spending more than $2,500 a year. The HP Direct partnership allows Cardmembers to receive 5% off all purchases and OfficeMax offers 5% in savings on a $100+single transaction.

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TransUnion Appoints Canadian Fraud Expert

Sonja Schindeler has been appointed TransUnion Fraud Solutions VP in the Canadian market. Schindeler is joining TransUnion to manage the development and complete life-cycle of TransUnion’s suite of fraud solutions, which include detection tools, fraud analytics, alerts, monitoring and compliance. In her prior role, Schindeler led Fair Isaac’s Global Fraud Solutions division and further expanded international acceptance of the company’s fraud detection solution. Schindeler previously spent 10 years at TransUnion, where she spearheaded the development of detection and fraud prevention tools. Schindeler graduated from the University of Alberta.

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RBS WorldPay to Deploys WAY mPOS Terminal

RBS WorldPay has certified the Way Systems’ “way5000” mobile POS terminal. The POS device is a new generation, portable, wireless transaction processing terminal that is fully Class A supported by RBS WorldPay and available immediately. RBS WorldPay will market the way5000 through its multiple sales channels, including its nationwide direct and ISO sales forces. RBS WorldPay is a single-source provider of electronic payment processing services for credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services. WAY Systems offers end-to-end payment solutions for mobile merchants all over the world for the payment transaction needs of mobile merchants and exceed industry security standards.

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PNC and ALI Solutions Co-Present Risk Webinar

ALI Solutions Intelligent Decision Automation solutions President and CEO is set to co-present a webinar with the Executive VP, Credit Executive – Consumer, PNC Financial Services Group. The presentation will take place on Tuesday, September 14th, from 1:00 p.m. to 2:00 p.m. central daylight time, via Bank Administration Institute (“BAI”). Registration can be made at http://www.bai.org/events/webinars/details.aspx?ec=0369&et=webinars. The webinar entitled “Managing the Two Faces of Risk: How Wise Risk Management Can Generate Revenue” is designed to show the growing sophistication of risk management in today’s economy, and the pitfalls in marketing campaigns overlook such risk considerations.

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PFM Tool Usage Trails Interest 15%:40%

With nearly 40% of the consumers indicating personal financial management (PFM) tools would be beneficial to managing their finances, only 15% used a PFM service in the past 90 days, of which 68% did so from online banking sites. With this popular interest in PFM tools, actual usage remains quite low, indicating potential for growth. This, according to Fiserv financial services technology, shows consumers are very interested in tools allowing them to track and analyze their spending and create budgets. Use of PFM services at online banking sites was more than twice as high as the top ranked third-party personal financial management Web site. This indicates consumers’ preference for, and trust in, online banking sites from their financial institution, which provide secure access to detailed financial information and the ability to complete financial transactions in one integrated user experience. These conclusions were drawn from Fiserv’s online survey in December 2009 of 3,000 online banking users.

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V/MC Credit + Debit GDV to Top $4T in 2010

Based on current growth rates, inflation rates and the impact of new regulations, gross dollar volume for Visa and MasterCard debit cards surpassed credit cards in 2010. Also, the combined GDV for U.S. credit and debit cards will likely exceed $4 trillion in 2010 after having so recently passed the $3 trillion milestone in 2008. According to CardData (www.carddata.com), Visa and MasterCard posted $1.63 trillion in credit card GDV in 2010 so far and $2.11 trillion in debit card GDV. Debit card GDV has been growing an average of 25% quarter over quarter so far this year while credit card GDV has been slowing, having grown only 12% in the first quarter and only 8% in the second. Due to the overall economy and new credit card rules to be implemented over the next two years, issuers will continue to pull back on new account acquisitions, reduce operating costs and focus on credit quality, thereby reducing the capacity for consumers to fuel credit card charge volume. Furthermore, Americans are likely to emerge from the current recession as “credit averse,” as the increase in the savings rate is currently indicating.

CREDIT vs DEBIT
(Visa & Mastercard)
($ billions)
Credit Debit Total
2008: $1583 $1514 $3097
2009: $1630 $1696 $3326
2010: $1700 $2300 $4000
2011: $1800 $2300 $4100
2012: $1900 $2400 $4300
Source: CardData (www.carddata.com)

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VERSAPAY

VersaPay Corporation, merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions has granted an aggregate of 550,000 stock options to Bill McGill in connection with his recent confirmation as CEO and appointment to the Company’s board of directors, as well as certain other employees of the Company, pursuant to VersaPay’s employee stock option plan. Each option is exercisable to acquire one common share at a price of $0.66 per option until August 25, 2015. VersaPay’s financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions.

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Discover Call Center Service Awarded

Discover has been named by the International Quality & Productivity Center (IQPC) as the winner of the “Best Performance Leveraging Customer Service Feedback” category in the 2010 Call Center Excellence Awards. The annual awards honoring and promoting the most innovative call center solutions and individuals across all major industries, the IQPC awarded Discover’s service delivery excellence program. Focusing on customers, Discovery employees at all levels attend call-listening sessions to hear recorded playback of actual customer service calls. The sessions, totaling nearly 8,000 hours annually, include questions and commentary from attendees, and a discussion of the key aspects of the calls.

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