New Report Targets Paper Check Reductions

J.P. Morgan has issued a new report titled “Payment’s
New Land of Opportunity” that features real-life success stories from J.P.
Morgan clients that have implemented Single-Use Accounts and extended
the use of their purchasing card programs to hold on to cash longer, pay
suppliers sooner, increase rebates and reduce A/P manpower costs.
Companies are looking beyond traditional spend categories and targeting
non-traditional suppliers for purchasing card payments. Some companies
are capturing higher rebates and paying vendors more quickly by using
purchasing cards to pay for temporary employment services, utilities,
employee drug screening, on-premise security services, legal service
providers, advertising and modeling agencies. Companies using Single-Use Accounts report results such as more
efficient A/P processing, improved fraud protection, increased working
capital and larger financial rebates. Until recently, the prime focus for treasury departments has been at two
ends of the payment spectrum. Credit cards have traditionally been used
for travel and entertainment and some low-dollar expenses, while ACH has
been reserved for the high-ticket, direct suppliers. Check processing,
renowned for its high cost and no revenue benefit, has filled in all the
gaps. Now, companies see a new land of opportunity: the fertile “middle
ground” of payment, encompassing a wide field of transactions that have,
until this point, been handled by paper.

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RADIANT & DAVID LARIS

Hospitality POS provider Radiant Systems has announced that food and beverage consultancy
David Laris Creates is implementing the Aloha Enterprise solution and Radiant P1220 point-of-sale (POS) terminals within many of the group’s unique food and beverage concepts. These sites were sold and are serviced by Virtual Technologies, one of Radiant’s resellers in Shanghai. The Aloha Enterprise solution allows each concept to improve employee productivity, provide faster service and better manage guest lists and reservations, helping management achieve higher levels of control across its locations. The solution’s in-depth reporting capabilities also allow management to notice and correct inefficiencies within its operations, which helps minimize waste and maximize bottom-line profits. Four new food and beverage concepts located in the 2011 World Expo Village in Shanghai are among the David Laris Creates sites that are utilizing the Aloha Enterprise solution. These sites provide expo visitors with examples of the chic and casual dining segments that have seen outstanding growth in China.

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HERAE Demonstrates ePayment Process at AHIP Conference

HERAE healthcare e-payment service provider will be demonstrating its “IntelliRemit” for healthcare payers and DirectERATM for healthcare providers at the America’s Health Insurance Plans (AHIP) Institute June 9 – 11 in Las Vegas. HERAE solution is an all-payer, e-payment solution leveraging the Company’s proprietary technology and its connections with payers within its Financial Healthcare Network(FHN) to manage electronic remittances and electronic fund transfers (EFTs) quickly and easily. HERAE anticipates continued and rapid growth for the company due to the recent healthcare reform bill mandates that call for a complete electronic payment system for healthcare by July, 2012. 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 while its remittance restructuring identify claims that need to be paid.

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Moody Rates SCORE Trust Credit Card Backed Notes

Moody’s Investors Service confirms the ratings on the two outstanding classes of Credit Card Receivables-Backed Notes issued by SCORE Credit Card Trust. These notes are backed by an undivided co-ownership interest in a $529 million revolving pool of consumer credit card receivables generated by holders of the Sears Card. Moody’s confirmation of the ratings is primarily driven by stabilization of the SCORE’s charge-off and delinquency rates following the addition to the pool of eligible accounts in March. From 2007 into late 2009, charge-offs rose steadily from under 4.0% to 7.0%. In March 2010, the Seller completed an addition of highly seasoned accounts to the existing pool. The new accounts added approximately $100
million in receivables balances to the existing $475 million pool. The credit card receivables in the Trust are originated and serviced by JPMorgan Chase Bank N.A. (Toronto Branch) which is rated Aa1/P-1.

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Chase Launches New Card, Improves Old

Chase Card Services and Continental Airlines have launched the “Continental Airlines OnePass Plus Card” and made available improved travel benefits, customer service and miles redemption on the “Continental Airlines Presidential Plus Card.” The “OnePass Plus Card” offers cardholders checked-bag fee waivers; access to Continental Airlines Presidents Club; two miles for every $1 spent on Continental tickets purchased with the card; 24/7 customer service and concierge; and Luxury Hotel and Resorts Collection for special treatment and amenities at more than 650 hotels. These include daily complimentary breakfast for two, early check-in and late check-out, complimentary room upgrades and a special amenity such as a spa treatment, green fees or welcome gift. Both products now offer cardmembers exclusive opportunities to redeem their OnePass miles at more than 60,000 hotels and for car rentals in addition to flights on Continental and the other 26 Star Alliance network partners. Improvements to the “Presidential Plus Card” include the the earn rate having increased to 1,000 Flex Elite status with Flexible Elite Qualifying (EQM) per $5,000 in purchases, previously 2,000 Flex EQMs for each $15,000 in spending with a yearly cap and reset. Also, “Blue Carpet Treatment” has been introduced in which Chase and Continental offer members priority check-in, boarding and express security screening where available and priority baggage handling.

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3DCart Now Visa PCI DSS Validated Service Provider

Shopping cart software solution provider 3DCart has been PCI DSS
Validated by Visa. 3DCart was officially named PCI DSS compliant by the PCI Security
Standards Council on February 26, 2009 following rigorous testing by
third-party PCI DSS compliance experts SecurityMetrics. In order to gain
compliant standing, twelve stringent requirements must be met or
exceeded to help build and maintain a secure network, protect cardholder
data, maintain a vulnerability management program, implement strong
access control measures, regularly monitor and test networks and
maintain an information security policy. 3DCart is a complete e-commerce solution for new or
existing websites. The company’s services include the tools, advice,
support, and technology to manage an entire online operation, so clients
can focus on managing their orders.

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Trustwave Appoints New Channel Manager for EMEA, APAC

Kristian Karppi has been appointed Channel Manager for EMEA and Asia-Pacific (APAC) for Trustwave information security and compliance. Bringing to the role more than 12 years’ experience developing information security channel partnerships with leading global organizations, Karppi most recently was a managing director and chief strategy officer at K&K Global Consulting where he offered data protection software vendors specialized business development services, including the development of channel partner programs. Prior to this, he was a value added distribution manager at the PGP Corporation for EMEA, India and the Commonwealth of Independent States (CIS) after having worked for Symantec managing software distribution channel partners in the United Kingdom and Ireland. In his new role he will oversee channel development, partnering with key security and technology integrators, value-added resellers and value-added distributors in EMEA and APAC.

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Zale Selects TD Private Label Card Program

NJ-based TD Retail Card Services been selected by Zale Corporation to
administer the private label credit card program for the retailer’s 216
stores in Canada, effective July 1.
Under the five-year agreement, TD will direct all facets of the private label credit card program for
Zale’s 147 Peoples Jewellers stores and 69 Mappins Jewellers locations
across Canada. The program replaces the Company’s existing agreement
with Citi Cards Canada Inc. that expires on June 30. Branded under the Peoples and Mappins names, the cards will offer
Canadian consumers a number of financing options, including
interest-free and no-payment offerings. In addition, the cards can be
used interchangeably between Peoples and Mappins.

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BARCLAYCARD

Barclaycard has reduced the APR on the Barclaycard Simplicity card to 6.8%. The new rate, which is one of the lowest rates available on any card in the UK, applies to both purchases and balance transfers. Barclaycard Simplicity offers customers an affordable way to manage their finances, from significant purchases such as large household goods and holidays, to everyday spending. In addition to the low rate offered by Barclaycard Simplicity, Barclaycard has also increased the balance transfer deal on Barclaycard Platinum. Barclaycard Platinum now offers 15 months at 0% for new customers with a handling charge of 2.9%. Barclaycard Platinum also offers 0% interest on purchases for the first 3 months. The typical APR on Barclaycard Platinum is 16.9%. Barclaycard Freedom allows customers to earn and redeem Reward Money in pounds and pence in thousands of retailers across the UK without the need to carry additional cards or vouchers. Customers will also enjoy the flexibility of contactless technology: payments of £15 and under can be made by simply holding the card over the contactless reader, all backed up by Barclaycard’s advanced security and fraud prevention measures.

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NetSecure Technologies Offering SmartSwipe Endpoint Solution

Financial institution security provider NetSecure Technologies has reported high consumer adoption of its personal credit card reader, “SmartSwipe.” Recently made available to financial institutions for their customers, “SmartSwipe” encrypts the user’s card information using end-to-end encryption technology, rendering it unreadable to hackers and malicious programs. To ensure online security, financial institutions’ customers plug the reader into their computer’s USB port and install the provided software. When completing an online purchase, they swipe their credit card and the information is automatically encrypted and populated into the required fields. NetSecure’s Dynamic SSL end-to-end encryption technology secures this sensitive data at the point of origin, protecting both financial and personal information from fraud. This subsequently provides proactive protection against all existing attacks as well as new emerging attacks designed to steal sensitive personal information. NetSecure Technologies technology company is focused on developing breakthrough security solutions for online
transaction security.

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INSIDE & CPI

INSIDE Contactless and card producer CPI Card Group have received type approval from Discover Financial Services for mobile payment stickers based upon INSIDE’s “MicroPass 4002” contactless payment processor. The MicroPass 4002 chip became the first Discover-certified Zip implementation on the market in 2007. These Discover stickers combine the MicroPass 4002 with a uniquely tuned RF antenna in a compact prelam that features an innovative shielding design that improves performance in payment sticker applications. The shielding protects the chip and antenna inside the sticker from interference that might be caused by the metals and radio signals within mobile phones and other electronic devices.
The stickers are delivered already pre-cut from ID1 card devices and pre-personalized to allow for personalization and fulfillment using traditional card processing equipment.
Incorporating the Discover Zip payment application, the certified stickers contain all the functionality of a traditional Discover credit, debit or prepaid card, and enable Discover card issuers to offer their customers the additional convenience of using their mobile phones or other portable devices to make contactless payments anywhere using the Discover Zip standard.

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A2iA & CFS ATM Offers Smaller Banks Check Imaging

A2iA document analysis announced its “CheckReader” comprehensive check-processing toolkit has been integrated into “CFS DepositWizard ATM” for the image capture of a check-deposit at the ATM. This scalable integration accelerates timelines, reduces operating costs, combats fraud at the point of deposit, and allows community banks and credit unions to enhance their customer service and provide additional benefits to their patrons. All checks captured at ATMs equipped with “DepositWizard ATM” are uploaded to the financial institution for reconciliation with little to no input from the customer. Banking customers are also given the convenience of making secure deposit transactions at any time of the day or night, despite teller hours.

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