Coastal Federal CU Introduces One-Cent Overdraft

Coastal Federal Credit Union is set to implement an overdraft forgiveness program that will allow members to reduce their overdraft fee to just a penny in many situations, instead of charging the standard $28. Coastal will charge just one cent per overdraft, provided the member either corrects the overdraft before 11:00 PM that same day or had a small overdraft that did not take their end-of-day account balance into the negative by more than $10. Any account that remains negative by more than $10 after 11:00 PM will still be charged a fee of $28 per overdraft. These changes apply to all checks and automated (ACH) drafts, as well as debit card and ATM transactions on checking accounts that have opted-in to Coastal’s BounceGuard Plus overdraft coverage service.

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Cardlytics Closes $18 million of Growth Capital

Cardlytics transaction marketing has raised $18 million in new equity for its expansion through ITC Holdings and Kinetic Ventures. Leveraging the Cardlytics platform, financial institutions will be providing retail offers to over 10 million consumers this fall. Cardlytics’ innovative platform continues to win industry accolades. In July, the company was named a 2010 Red Herring North America Top 100 award winner, a prestigious list that honors the year’s most promising 100 private technology ventures from the North American business region. In March 2010, Cardlytics was also named as a Top 10 Innovative Georgia Technology Company. Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior.

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Discover and Firethorn to Launch mGift Card

Firethorn Holdings mobile commerce solutions provider and Discover have
collaborated for the upcoming launch of the “SWAGG” mobile gift card
application. For this, Discover Network will provide core processing
services for payment transactions when the “SWAGG” service is made
available to provide direct-to-consumer mobile commerce offering with
“smart” technology that allows consumers to purchase, personalize and
exchange gift cards directly from their mobile device. The partnership
has its sights set on making “SWAGG” available in time for the 2010
holiday shopping season. Firethorn Holdings mobile commerce will bridge
relationships among consumers, retailers, wireless carriers and
financial institutions.

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CARDTRONICS

Cardtronics retail ATMs and financial kiosks has inked agreements for
Scotiabank to place its brand on 200 ATMs in high-profile retail
locations throughout Puerto Rico. The long-term deal is the first
between Cardtronics and Scotiabank and the first for Cardtronics in
Puerto Rico. The Scotiabank logo will appear on Cardtronics ATMs in
Puerto Rico, expanding secure, convenient ATM access for its customers.
Initially, Scotiabank will brand approximately 40 ATMs and collaborate
with Cardtronics to brand an additional 160 ATMs in the Puerto Rican
market as Cardtronics installs those locations over time. In addition
to Puerto Rico, the master ATM branding agreement establishes the
framework to brand additional ATMs in other Scotiabank markets.

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Discover Launches Customer Service Ads

Discover Financial Services launched its advertising campaign to highlight its cardmember customer service, appealing to consumers who have endured poor customer service across industries. The television advertisements, which portray a likable but incapable customer service representative named “Peggy,” are the focal point of a marketing and communications strategy designed to convey the value of Discover’s superior customer service. The ads will remind viewers of some of the most common and frustrating experiences with customer service calls, such as long hold times, excessive call transfers and the inability to solve problems. The ads will debut on August 16 on all four major networks on popular shows such as America’s Got Talent, The Office, Parenthood and the Emmy Awards.

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Scotiabank and Cardtronics Ink Long-Term ATM Branding

Cardtronics retail ATMs and financial kiosks has inked agreements for Scotiabank to place its brand on 200 ATMs in high-profile retail locations throughout Puerto Rico. The long-term deal is the first between Cardtronics and Scotiabank and the first for Cardtronics in Puerto Rico. The Scotiabank logo will appear on Cardtronics ATMs in Puerto Rico, expanding secure, convenient ATM access for its customers. Initially, Scotiabank will brand approximately 40 ATMs and collaborate with Cardtronics to brand an additional 160 ATMs in the Puerto Rican market as Cardtronics installs those locations over time. In addition to Puerto Rico, the master ATM branding agreement establishes the framework to brand additional ATMs in other Scotiabank markets.

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Continental Airlines Implements TNS Payment Gateway

Transaction Network Services has inked agreements allowing Continental
Airlines to use the “TNSPay” gateway to authorize online payment
transactions. This will allow Continental Airlines to process online
payments from its reservations system through TNS’ PCI certified
“TNSPay” gateway, which enables more than 180 million transactions each
year and connects a growing number of more than 30,000 merchants and
over 110 banks and major card schemes worldwide. The platform allows
merchants to securely accept payments over the Internet or any other
payment application where the credit card is not physically present at
the POS, to authorize and settle credit card transactions securely, and
provides merchants with fraud prevention, risk management, and
management information and reporting.

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Barclays Outsources ATM Services to NCR

Barclays Bank has outsourced management and maintenance services for 550 remote and host operated ATMs to NCR Corporation for a term of at least two-year contract. NCR will deliver managed services solutions for helpdesk services, incident management, first and second line maintenance and managing cash replenishment services in partnership with Cash-In-Transit management company Loomis. With this, NCR will focus on achieving ATM availability through the use of advanced diagnostic tools to carry out remote fixes where possible, the very latest engineer scheduling, automated incident management and dispatch software, along with a sophisticated parts logistics strategy.

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Pivotal Payments Partners with StoresOnline

Pivotal Payments payment processors has signed a partnership with StoresOnline e-commerce solutions to help entrepreneurs launch and manage their online business. The agreement will make Pivotal Payments fully compatible with the StoresOnline shopping cart and enable StoresOnline merchants to benefit from a simplified payment solution, special partner pricing, and 24/7 customer support. StoresOnline clients who build their web store using the StoresOnline solution can now easily integrate Pivotal Payments into their e-commerce solution to accept credit card payments with preferred pricing.

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Consumers Refuse Finance Reform Debit Card Fees

Consumers will see more fees added to their debit card accounts in the months to come as these issuers move to regain lost income, for which, just a $10 monthly fee would cause a majority to stop using their cards. Women are more likely than men to say they would stop using their card and more than 3/4 of individuals with incomes over $75,000 would stop using their cards across all store types. This, according to Mercator Advisory Group and National Payment Card Association, also shows consumers are likely to turn away from ubiquitous debit-based payment products if issuers were to institute fees and 1/3 said they would be interested in using a debit card product offered directly by merchants.

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USA Tech Cashless Vending Gets 20,000 Commits

USA Technologies announced that over 20,000 ePort cashless payment terminals have been shipped or verbally committed to by customers under the “JumpStart” program. The program helps vending operators and bottlers acquire the ePort EDGE cashless terminal at no cost, paying only a low monthly service fee, and avoiding the need to make a major upfront capital investment. The ePort EDGE, which accepts swipe cards only, is the only one-piece cashless reader and controller combo on the vending market, with PCI Level One compliant security.
The program was recently expanded to include the company’s top-of-the-line ePort G8 terminal, which accepts contactless cards in addition to traditional magnetic swipe cards as well as the Get One/Buy One (GoBo) option—which enables a customer to get an ePort under a rental agreement if they commit to buying one by December 31.

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Spacenet to Support Valero Transaction

Spacenet broadband network solutions has signed agreements with Valero to support its primary retail applications and network backup. With this, Valero is leveraging Spacenet’s satellite and digital subscriber line (DSL) broadband managed services as well as its Prysm Pro network appliance to support its retail POS credit and debit transactions, ATM transactions and store loyalty programs. The upgraded network combines Spacenet’s SkyEdge VSAT satellite platform and DSL managed services into a centrally managed, integrated platform that supports full Payment Card Industry compliance.

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