UMB Acquires CardPartner Card Service from Serverside

UMB Bank, n.a., the lead bank of UMB Financial Corporation has acquired
CardPartner from Serverside Group. The agreement was
signed in the first quarter 2010 and terms of the deal are not disclosed.
CardPartner specializes in helping U.S.-based membership organizations
and charities create custom Visa credit card programs.
The acquisition is a natural evolution of the relationship between UMB
and CardPartner. In 2008, the two companies partnered to create a free,
customized affinity Visa credit card program for organizations and
not-for-profits of all sizes. UMB has been the issuer and financial
custodian of the credit cards, which assist not-for-profit organizations
in raising funds via use of the cards. Serverside has
built a market-leading position by running more than 1,000 card programs
through its network of approximately 200 card issuers in 23 countries.
Its clients include: RBS Group, Banco Sabadell, ING, Permanent TSB, ANZ,
BMW, KBC, Fortis, Eurobank, First National Bank Omaha and Heritage
Building Society.

Details

MONEYGRAM & VISA

MoneyGram International payment services and Visa have launched the MoneyGram cash-to-Visa card program. Allowing consumers to transfer money from MoneyGram locations in the United States directly to the Visa accounts of recipients outside of the United States, the new program will initially facilitate transfers to Visa-branded cards issued by Guatemala-based Banco Industrial. The MoneyGram cash-to-card service will be available at most U.S. MoneyGram locations, including the 20 top agents for remittances to Guatemala. The cash-to-card money transfers are processed through Visa’s secure network and funds are transferred directly to eligible Visa debit and credit accounts via Banco Industrial. Once funds are sent to the card, recipients can access the money 24-hours-a-day, anywhere Visa is accepted.

Details

MoneyGram and Visa Introduce Cash-to-Visa Card Program

MoneyGram International payment services and Visa have launched the MoneyGram cash-to-Visa card program. Allowing consumers to transfer money from MoneyGram locations in the United States directly to the Visa accounts of recipients outside of the United States, the new program will initially facilitate transfers to Visa-branded cards issued by Guatemala-based Banco Industrial. The MoneyGram cash-to-card service will be available at most U.S. MoneyGram locations, including the 20 top agents for remittances to Guatemala. The cash-to-card money transfers are processed through Visa’s secure network and funds are transferred directly to eligible Visa debit and credit accounts via Banco Industrial. Once funds are sent to the card, recipients can access the money 24-hours-a-day, anywhere Visa is accepted.

Details

Hawk Inks ATM LOI with First United

ID authentication provider Hawk System and First United,
have agreed to install up to six (6) Hawk Systems identification
software into up to 6 ATM machines in the New York Metropolitan area on
a pilot program basis. If First United Inc. deems the project to be
successful the company will install
systems through out the entire First United network. Hawk Systems is a developer of
innovative fingerprint Authentication technology that it believes offers
high degrees of security, convenience, and ease of use in applications
such as automobile locks and potentially identity theft protection. The
Company believes that this type of technology can also be used for
security in banking, healthcare, hotel/casino operations, employee time
clock and attendance, stadium security, sporting and gaming applications
where identity management is required.

Details

Meta Payment Systems Records Net Income +$3m Y/Y

Meta Payment Systems recorded net income of $6.5 million for 1Q/10, compared to net income of $3.5 million for the same period last year. Absent the one-time charge for severance and other restructuring costs, net income was $6.9 million or $2.33 per share. Revenue from Meta Payment alone grew by 14.2% from $36.4 million in fiscal 2009 to $41.6 million in 2010. Non-interest income for the quarter increased from $33.0 million in fiscal 2009 to $37.1 million, or 12%, in 2010 among both prepaid and credit programs. Meta Financial Group posted a total net income of $5.2 million for its 1Q/10, $3.0 million over 1Q/09’s $1.2 million. The company also generated net income of $6.5 million compared to $3.5 million last year, while retail banking reported a net loss of $1.1 million compared to a loss of $1.9 million last year. Card Processing expense was 5% lower than the year ago period while the year-to-date 2010 non-interest expense increased by $3.5 million, or 7%, to $51.7 million. Card processing expenses increased 12% to $22.4 million, and personnel costs increased by 11% to $17.5 million.

ACTIVE MPS CARDS
1Q/09: 17.8million
2Q/09: 20.0million
3Q/09: 14.2million
4Q/09: 22.7million
1Q/10: 23.0million
Source: Carddata.com

Details

NRF Seeking ‘Reasonable and Proportionate’ Fees for Debit Cards

The National Retail Federation is urging the Senate to approve
amendments to financial services reform legislation that would direct
the Federal Reserve to determine “reasonable and proportionate”
transaction fees for debit cards. This would make it easier for merchants to
reward customers who pay by cash, check or debit rather than credit
card. Merchants estimate that they paid more than $10 billion in fees
on debit card transactions last year . Debit card fees are part of the
$48 billion in interchange fees collected by Visa and MasterCard banks
each year. Averaging about 2 percent for credit cards and 1 percent for
debit, interchange is a fee charged to merchants each time a customer
swipes a card to pay for a purchase. Amendments to S. 3217, the Restoring American Financial
Stability Act of 2010, the financial services reform legislation being
debated in the Senate, require the Federal Reserve
to establish “reasonable and proportionate” interchange fees for debit
transactions, taking into consideration both the
actual cost of processing the transactions and the fact that paper
checks are paid at face value rather than being subject to interchange.
Credit unions and banks with assets under $1 billion would be exempt.
Another amendment
would prohibit card companies from interfering with merchants’ ability
to offer a discount or other benefit to customers who pay by cash, check
or debit card rather than credit card.

Details

New Launches Improved Self Checkout Software

NCR Corporation announced the latest release of its NCR “SelfServ” Checkout software. Offering new enhancements to help retailers implement self-checkout lanes faster and lower the cost of managing self-checkout terminals, “SelfServ” provides an improved integration framework that uses Extensible Markup Language (XML) technology to facilitate the connection between the self-checkout solution and the retailer’s existing POS for quicker processing. Also added is the NCR “YourPOS” Assist Mode to allow attendants to complete transactions on the self-checkouts, such as tax-exempt sales, and to make it easier for retailers to cross-train operators for self-checkout attendant and traditional cashier positions. With this, retailers can integrate self-checkouts with their existing POS system faster and more economically without developing customized middleware.

Details

American Express Launches Summer Road Trip Promo

American Express’ “Daily Wish” online marketplace has made available a week of exclusive sales to help cardmembers save money on their summer road trip necessities. During the week of May 17, “DailyWish.com” will feature $75 Weber Baby Q Portable Gas Grill (regularly $159) for outdoor barbecues; $40 Coleman 50-Quart Wheeled Cooler (regularly $59.99); and a Sony Portable DVD Players-a 7” screen for $69 (regularly $119.99) or a 9” screen for $89 (regularly $189.99). For May 19, AmEx is making available the Canon EOS Rebel T2i EF-S 18-55mm Digital Camera for just $499 (regularly $899.99) or a PowerShot SD980 IS Touchscreen Digital Camera for $169 (regularly $299.99); and a Garmin Nuvi 1390T widescreen GPS with Bluetooth for $119 (regularly $269.99) or a Garmin Nuvi 205 GPS for only $65 (regularly $89.99). On May 20, AmEx is making available a 2010 Ford Fusion Hybrid for just $14,337 (MSRP $28,675).

Details

Fiserv’s Rolls Out P2P ZashPay Service From Bank Accounts

Fiserv has introduced “ZashPay”, a new person-to-person
(P2P) payments service that will allow consumers to tap into a community
where they can quickly send or receive money using their existing online
banking accounts. ZashPay will be available to a network of more than 3,100 financial
institutions and 16 million consumers that already use the CheckFree®
RXP® online bill payment service from Fiserv. ZashPay will be integrated
into the online banking sites of financial institutions that choose to
offer the service. A public website will also allow consumers whose
financial institutions are not part of the network to use ZashPay to
send or receive money the easy way. The service will be available
through participating financial institutions and at ZashPay.com early in
the summer of 2010. Users of ZashPay will be able to send money to anyone, regardless of the
recipient’s financial institution relationship. Consumers will be able
to repay a friend, contribute to a fundraiser, pay team dues, pay
allowances or even pay the babysitter. Payments will be deposited
directly into the recipient’s account, if they have an account at a
participating financial institution. If their institution is not part of
the network they will be able to claim their money at ZashPay.com.
Payments made using ZashPay will be delivered in as little as one
business day and confirmation of payment will be sent to the recipient’s
e-mail address or mobile number. Because consumers will be able to use
ZashPay through their financial institution, it will eliminate the need
to fund a separate account or share account information with a third
party, resulting in both improved security and greater convenience.
Payments will be securely processed through the Fiserv industry leading
online payment network, which in 2009 processed 1.35 billion online bill
payments for more than 3,100 financial institutions, including most of
the largest banks and credit unions in the U.S.

Details

U.S. Bank Travel Rewards Card Celebrates One Year

The U.S. Bank “FlexPerks Travel Rewards” Visa Signature credit card celebrates its one-year anniversary. Named the “Best Credit Card if You Want Travel Perks” by Kiplinger’s Personal Finance magazine earlier in the year, the “FlexPerks Travel Rewards” card has since added a $25 allowance with each award ticket. This ticket can be used toward baggage fees, in-flight food or drinks. Cardholders can now also redeem FlexPoints to pay their annual fee, redeem as few as 20,000 “FlexPoints” for airline tickets valued up to $400 on over 150 airlines with no blackout dates, capacity controls or e-ticket booking fees. “FlexPerks” Travel Rewards cardholders earn one “FlexPoint” for each dollar spent, two “FlexPoints” for cell phone charges and for gas, groceries or airline purchases — whichever is highest for the customer during the month, and up to an additional 50% more FlexPoints each month.

Details

XOOM TO MEXICO

Global money transfer company Xoom.com can can now send money to the Banamex Network in Mexico. The new partnership offers Xoom.com to offer its users more options to receive their money and to meet the growing consumer demand for online money transfers to Mexico. The Red Banamex Network offers the recipients of Xoom.com’s money transfers more than 4,000 additional pick-up locations throughout Mexico and gives consumers in the U.S. the ability to make deposits directly into any Banamex checking or savings account, for access to funds within minutes. This new service expands Xoom.com’s comprehensive corporate initiative to serve this country’s rapidly-growing Mexican consumer market by providing an alternative money transfer option that is fast, easy, convenient and inexpensive. Xoom.com’s money transfer service allows U.S.-based customers to send money to Mexico from any internet-enabled computer using a checking account or credit card to fund the transaction. The cost to send money with Xoom.com via checking account for $4.99 with a daily limit of $2,999.

Details

Radiant Systems Raise $135,000 for Cancer Fundraising

The Radiant Charity Corporation announced three 2010 Sprint for Cancer charity race events raised more than $135,000 for cancer-prevention organizations, bringing the total amount of dollars raised over the race’s eight-year history to over $635,000. These were held Saturday, April 17 – Dallas, Texas – 5K and family fun run/walk – $20,000 raised for Young Texans Against Cancer; Sunday, April 18 – Atlanta, Ga. – 5K and 10K race – $100,000 raised for the Georgia Cancer Foundation; and Sunday, May 2 – Irvine, Calif. – Radiant’s California offices participated as a Sprint for Cancer team in the Cinco de Mayo 1K, 5K, 10K and half marathon – $14,000 raised for the Pediatric Cancer Research Foundation. Sprint for Cancer began in Atlanta in 2003, extended to Dallas in 2009 and now includes Radiant’s California offices in Huntington Beach and Irvine. In total, more than 1,300 participants and volunteers contributed to the success of this year’s events.

Details