Target REDCardholders Get 5% Off At Check Out

Target guests will receive 5% off at
check-out every day when they use a REDcard at any Target store or on
Target.com. Target’s REDcards include the Target Credit Card, Target
Visa Credit Card and Target Check Card debit product. This new Rewards program will replace the current Rewards program in
which new account holders receive an initial 10% off coupon and
existing cardholders earn coupons for 10% off a future day of
shopping. Guests participating in the current program will continue to
earn points until the new program begins. This program is expected to increase the portion of Target’s sales made
on Target credit and debit cards. Incremental accounts receivable
resulting from this program are expected to reduce the current rate of
decline in Target’s receivables balances, allowing gross receivables to
stabilize in the range of $5 billion to $6 billion over the next few
years. For reference, Target’s gross receivables were approximately $7.3
billion at the end of first quarter 2010.

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Western Union Signs Yapi Kredi As A Major New Agent

Western Union national and international money-transfer
services are now offered at 830 Yapi Kredi bank branches throughout Turkey.
The agreement with Yapi Kredi enables
Western Union to expand its distribution network in Turkey, which
currently consists of more than 4,700 locations in 81 cities, and
potentially target Yapı Kredi’s 6 million-strong customer base.
As the first national private bank of Turkey, Yapı Kredi has set the
standards for the Turkish banking sector introducing innovative products
and services for 66 years.

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ACI and Integrated Research Offer Payment Service

E-payment solution provider ACI Worldwide has entered into a
strategic partnership with Integrated Research developer of
market-leading PROGNOSIS(R) performance monitoring solutions to jointly offer ACI Payment Service Management
powered by PROGNOSIS, which is immediately available for ACI’s
BASE24(R) and BASE24-eps(R) payment processing environments.
This partnership introduces payment service management, which closely
aligns the IT services of payments with the payments line-of-business,
helping business and operations personnel understand how the financial
institution’s payments business is performing at every level. ACI
Payment Service Management powered by PROGNOSIS provides increased and
correlated visibility into the payments business through in-depth
monitoring and analysis of transactions, applications, supporting IT
infrastructure, and payments devices. The PROGNOSIS solutions from Integrated Research currently provide deep
insight and complete visibility across the entire BASE24 or BASE24-eps
infrastructure, enabling customer issues to be identified and addressed
proactively and in real time before they become widespread. The
detailed level of data PROGNOSIS provides assists stakeholders to make
informed business decisions quickly from all perspectives and increase
the profitability of payments channels and customer relationships. ACI
and Integrated Research intend to work together to extend the solution
to cover additional payment applications such as ACI Money Transfer
System(TM) and ACI Proactive Risk Manager(TM).

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HERAE Demos IntelliRemit Electronic Payment Process

HERAE will be
demonstrating “IntelliRemit” for healthcare payers and DirectERATM for
healthcare providers at the America’s Health Insurance
Plans (AHIP) Institute June 9 – 11 in Las Vegas. IntelliRemit reduces bank fees, ensures prompt pay compliance and
enhances provider satisfaction with one end-to-end electronic solution.
By providing a single bank ACH file and transforming thousands of
varying format 835s and ERA files into a single standardized electronic
835 for providers, HERAE can save payers thousands of dollars in bank
fees, while the automatic payment and remittance re-association vastly
improves providers’ revenue cycle. Cash management is enhanced by IntelliRemit’s payment interval tools
that translate state and federal prompt pay laws and provider agreements
into optimized payment timing. Remittance restructuring services
identify claims that need to be paid, resulting in better daily control
over cash management and increased efficiencies. DirectERA, HERAE’s all-payer solution for providers, which enables a
secure, HIPAA-compliant paperless payment process that requires no
software or IT upgrades, will also be demonstrated at AHIP.

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IP Commerce Platform Updates to Further Drive Payments

CO-based IP Commerce multi-service, multi-channel open API platform is updating its Managed Commerce Services Platform and developer APIs. These updates address developer features to innovate on behalf of, and in partnership with, all participants in the payments industry and are based on more than thirty iterations of the IP Commerce APIs and five years of experience working directly with the payments developer community. The Commerce Service Bus, a core component of the IP Commerce Platform, supports dynamic and flexible Commerce Business Rules, provides additional Value-Added Services to developer workflows, and extends the Federated Identity governance inherent in the Platform. The exposure of this component and features within, through the developer APIs, allow for the creation of new and innovative workflows by developers expediting their time-to-market and ensuring the appropriate services are available more rapidly than ever before.

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U.S. Prime Card Charge-offs Up More Than 11%

While delinquencies have been slowly improving, chargeoffs have been holding steady at over 10% for a full year now. Prime credit card chargeoffs rose by 17 basis points (bps) to 11.10%, driven mainly by a 168 bps increase in defaults within the BA Credit Card Trust. Credit card chargeoffs in U.S. have remained high for all of this year, with the index averaging 11.17% through April versus 8.59% during the same period last year. Year-over-year chargeoff comparisons fell to 15% from more than 50% in the first-quarter 2010. This, according to Fitch, also showed late payments dropped another nine bps to 4.18%. All credit card issuers that comprise Fitch’s index, with the exception of the Citibank Credit Card Issuance Trust (which only had a 1 bps increase), reported lower delinquency rates indicating fewer borrowers might default in the coming months. Meanwhile, 30+ day delinquencies also fell by 21 bps to 5.53%. Year-over-year, early stage delinquencies also declined by 61 bps (10%). Monthly excess spread fell 88 bps to 8.01% in April – a combined result of the drop in yield and increase in defaults, while the three-month average excess spread rose by 61 bps to 8.28%. The retail credit card chargeoff index rose 22 bps to 13.23 % in April. Retail chargeoffs were 115 bps (10%) higher than the same period last year but below its all-time record high of 13.41% in February 2010.

CREDIT CARD COF
SEP 09: 11.52%
OCT 09: 10.09%
NOV09: 10.68%
DEC 09: 12.56%
JAN 10: 11.37%
FEB 10: 11.27%
MAR10: 10.93%
APR10: 11.10%
SOURCE:Carddata.com

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Travelocity & AmEx to Award Five Dream Trips

The Travelocity Rewards American Express Card, issued by Barclaycard US, is offering five different dream trips to the Grand Prize Winners of an exciting sweepstakes that will run during the summer of 2010. Grand Prize Winners will receive one of five dream trips to Chile, New Zealand, South Africa, Switzerland and Orlando. Benefits include for U.S. to Santiago, Chile two roundtrip business class air tickets, nine nights hotel accommodations, tour accommodations on the Colchagua Valley Wine Train and the Santiago City Tour, plus a $500 American Express Gift Card; for U.S. to Auckland, New Zealand, two roundtrip business class air tickets, eight nights hotel accommodations, tour accommodations on the Bay of Islands Tour and the Milford Sound Tour, plus a $500 American Express Gift Card; for U.S. to Cape Town, South Africa, four roundtrip business class air tickets, five nights hotel accommodations, plus $1,500 in American Express Gift Cards for dining, entertainment and ground transportation, for U.S. to Zurich, Switzerland, two roundtrip business class air tickets, eight nights hotel accommodations, tour accommodations on the Zurich City Tour and the Glacier Paradise Tour, plus a $500 American Express Gift Card; and for Orlando, four roundtrip air tickets, five nights hotel accommodations, Four (4) Four-Day Park-to-Park Access Tickets for Universal Studios, plus a $500 American Express Gift Card.

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Celerant Technology Now Microsoft Certified Partner

POS solution provider Celerant Technology was
recently named a 2010/2011 “Microsoft Certified Partner for the Mid
Market Provider Competency”. The title of Microsoft Certified Partner is
given to companies that demonstrate a proficiency in Microsoft products
and deliver a great service to their client base. Celerant has received
the competency for Networking Infrastructure since 2001, which has now
been changed to the Mid Market Provider Competency.
Celerant Technology has earned Microsoft Certification for the past 10 years.
The level of service offered by Celerant Technology is
demonstrated through this certification, along with excellent customer
support based on advanced technical knowledge that is vital to the
retail software industry.

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OKI Printing Solutions Launches Enterprise Thermal Label Printer

OKI Data Americas has unveiled its “LE810” thermal label printer. The versatile device provides end users with the flexibility and convenience of adding new applications, eliminating the need to upgrade or purchase new hardware. This unique product feature truly differentiates the device from any other label printer in the market at this price pointi, making it a more convenient alternative to the competition. The “LE810” features user replaceable interfaces for increased convenience; is built standard with Dual Data Buffering (DDB); processes two data streams simultaneously; save space with an internal backing rewinder; is lightweight and compact. The printer can be run on Ethernet, USB, Serial or USB/Parallel/Serial.

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Ceridian Makes Available mGift Card Solutions

Ceridian Stored Value Solutions prepaid, gift card, and stored value solution provider is now offering integrated mobile capabilities. The full-range of mobile services include mobile gift cards, mobile marketing, and mobile cardholder services. Merchants will have the added capability of using mobile technology to manage full-scale marketing messaging campaigns, send customer-specific messages such as electronic promotions or coupons, and to append promotional messages to balance inquiry responses. The new mobile capability is integrated with SVS’ back-end systems to provide a seamless customer experience.

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Fiserv Acquires AdviceAmerica, Expands Investment Services

Fiserv has acquired CA-based AdviceAmerica integrated advisor solutions.
AdviceAmerica will
become a strategic part of the Investment Services unit of Fiserv, which
is the market leader with the industry-leading technology platform for
managed accounts. The integration of AdviceAmerica’s Desktop Advisor platform with leading
portfolio management, reporting and trading solutions will provide
significant benefits to Fiserv clients and financial advisors. The
addition of AdviceAmerica’s front-office tools make Investment Services
from Fiserv a market leader in the growing sponsor, bank wealth
management, registered investment advisor, and insurance company
channels. Its capabilities expand the Fiserv portfolio to enable an
integrated, scalable solution for providing holistic advice based upon a
broader view of an entire household’s assets and goals.
Financial terms were not disclosed.

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Paymetric Adds VP, Business Development

Stephen Wecksler has been appointed Paymetric VP, business development. Bringing with him more than ten years’ experience in the financial services industry, Wecksler served as executive VP with FirstView prepaid debit card and e-billing solutions provider, following various roles selling, supporting and implementing nationwide retail prepaid long distance card programs during a five year tenure at MCI/Worldcom. He also spent six years in the Change Management Practice at Andersen Consulting (now Accenture) and led business development activities for the RBS WorldPay Prepaid and Loyalty Sales Team. Steve holds a B.A. from the University of Michigan and an MBA from the University of Alabama.

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