Bling Nation Appoints FB Exec to Board

Mobile payment provider Bling Nation has tapped Facebook VP Chamath
Palihapitiya to serve on its board of directors. Palihapitiya is one of
the longest tenured senior executives at Facebook and, during his time
there, has been the executive responsible for
managing Facebook’s Platform, launching its online advertising channel
and most recently driving Facebook’s massive user growth and evolution
into mobile. Prior to joining Facebook, Palihapitiya managed consumer
Internet,
advertising and technology investments for The Mayfield Fund, a leading
Silicon Valley-based venture capital firm. Before Mayfield, he served as
AOL’s vice president and general manager of AIM and ICQ, two of the most
popular instant messaging businesses on the Internet. Palihapitiya began
his career in the financial industry as a derivatives trader before
transitioning to the high tech industry with stints at Internet music
pioneers, Spinner.com and Winamp.
He also serves on the board of directors for Fixya.com and
is recognized for his outstanding leadership in the Internet and
financial services industries over the past 10 years in Silicon Valley.

Details

B&N Has Been Subpoenaed from the New York State Attorney

Bookseller Barnes & Noble has been subpoenaed from the New York State Attorney
General for information concerning an investigation into online
retailers who link customers to discount clubs that charge hidden fees.
Barnes & Noble said it welcomed the Attorney General investigation
because it will show that Barnes & Noble has never shared customer
information with any discount companies. Barnes & Noble confirmed it has a relationship with Webloyalty, since
2005. The company said it has never provided Webloyalty with any
customer credit and debit card information. When a customer completes a
transaction on Barnes & Noble.com (www.bn.com), they are presented with
a Webloyalty ad offering a discount. The customer has to click through
the ad, at which time the customer is informed they are leaving Barnes &
Noble.com and will be subject to Webloyalty’s terms and conditions. Once
on Webloyalty’s website, the customer would have to register and provide
their personal information to Webloyalty.

Details

TransUnion Launches Income Estimator & Debt-to-Income Estimator

TransUnion is now offering the “Income Estimator” and “Debt-to-Income Estimator”products to
predict a consumer’s ability to pay as required under the
Credit CARD Act. The “Income Estimator” solution can help financial service firms estimate income when income is not supplied by the consumer as well as
validate consumer-supplied data and previously captured consumer income, re-assess existing customer income and ability to pay in an account
management environment and segment the optimal populations for which consumer income or consumer proof of income should be requested.
A card issuer also may consider the consumer’s current obligations based
on information provided by the consumer or in a consumer report. The
“Debt-to-Income Estimator” provides an estimate of the ratio of debt
obligations to income, and can be utilized to consider a consumer’s
ability to make required payments. Both TransUnion models are available for batch and online delivery and
are available as a credit report add-on, reducing the likelihood that an
issuer will need to undertake a major systems integration effort.
The Credit CARD act rule itself states that “reasonable policies and procedures to consider a consumer’s ability to
make the required payments include a consideration of at least one of
the following: the ratio of debt obligations to income; the ratio of
debt obligations to assets; or the income the consumer will have after
paying debt obligations.”

Details

Invenstar Launches “TouchSuite Pro” POS System for Gift Stores

POS solution provider Invenstar is offering the “TouchSuite Pro” POS System to gift stores.
TouchSuite Pro offers a full suite of business solutions and comes
complete with hardware and TouchSuite Pro retail point-of-sale software
already installed and ready to use. Invenstar offers
low-cost, high-value financial solutions to small/medium business retail
markets with its TouchSuite® Point of Sale and QuickBancard™ credit card
processing solutions. TouchSuite is credit card security validated as
per PA-DSS (Payment Application Data Security Standard) for payment
applications.

Details

Paybefore Awards U.S. Bank Prepaid Card Programs

U.S. Bank “ReliaCard” Visa has been chosen as a “Paybefore Awards” winner in the Best Government Program category, along with the U.S. Bank “PayID” card having been recognized in the Most Innovative Program category. Selected by a panel of five industry experts who served as judges for this year’s competition, which saw a record number of entries from around the world, the U.S. Bank “ReliaCard” Visa is a reloadable card to replace costly paper checks for government agencies with recurring cash and check disbursement activities. Issued through a partnership with state agencies, the “ReliaCard” is disbursed for child support or unemployment insurance, among other reasons, and can be used everywhere Visa Debit cards are accepted worldwide. Meanwhile, the “PayID” pilot allows cardholders to use a single card for traditional magnetic stripe purchases, Visa “payWave” transactions and to gain access to secure buildings. Complete with a “MicroPass 4006” platform from INSIDE Contactless, “PayID” production is currently managed by the CPI Card Group.

Details

Motion Launches Magnetic Stripe Reader for New Tablet PCs

Motion Computing integrated mobile computing solutions released new peripherals designed specifically for the C5 mobile clinical assistant (MCA) and rugged F5 Tablet PC, including the EasyConnect magnetic stripe reader (MSR) and Motion “Tablets.” Providing a convenient and highly mobile POS solution, the EasyConnect MSR snaps into the docking connector offering the mobility and productivity of a hand-held POS device, with the flexibility of a powerful PC to help customers identify solutions, place orders and conduct secure credit card transactions. Meanwhile, the Motion “C5” and “F5” tablets are tailored to mobile professionals across healthcare, construction and field service. Fully rugged yet lightweight, the new tablets feature a digital camera, barcode scanner and RFID reader for more quickly gathering information for improving documentation processes.

Details

Argility Now Offers Fujitsu RetailReady Solution

Argility has successfully ported its Active Retail Enterprise solution to the Fujitsu “TeamPoS 3600” POS system, creating a Fujitsu “RetailReady” solution that will give retailers a seamless, cost-effective approach to integrating and implementing in-store hardware and software. With POS transactions, stock management, and back office processing at store level, it also facilitates consolidation of information at head office level with the ability to configure and control the manner in which the system works in individual stores. The “TeamPoS 3600” POS system manages information between each store and head office and can be integrated with other applications such as Enterprise Resource Planning (ERP) and merchandising solutions. It can also co-exist with other client or 3rd party offerings to create a total retail solution. The POS system is designed to help retailers drive down costs and increase return on their IT investment with a modular design that allows the system to grow and change with the retailing environment.

Details

NRA Reports California Losses to Swipe Fees

The National Retail Federation reports that California’s economy is
losing revenue due to credit card “swipe fees”. NRF testimony were heard
before the California Assembly Banking and Finance Committee
during a hearing held on credit card interchange, a fee averaging
about 2% that Visa and MasterCard banks charge merchants each
time one of their credit cards is swiped to pay for a purchase. “Swipe”
fee collections totaled $48 billion in 2008, triple the $16 billion
collected when NRF began tracking the fees in 2001. Visa and MasterCard rules effectively force
merchants to pass the fees on to consumers by requiring them to be
included in the advertised price of merchandise and making discounts for
cash, checks or cheaper forms of plastic difficult. Nationwide, the average household paid an estimated $427 in higher
prices in 2008, up from $159 in 2001. Bills pending in Congress would require the card industry
to negotiate with merchants over interchange and give the Federal Trade
Commission authority to prohibit interchange practices that violate
consumer protection or anti-competition laws.

Details

AirPlus Survey Shows Best Practices Not Fully Optimized

AirPlus International corporate travel payment solutions has released January’s The Wire…from AirPlus entitled: “Multiple Policies, Multiple Processes.” Findings disclosed only 39% had one comprehensive policy and one comprehensive platform for processing business travel expenses and reimbursements while 24% stated several policies and multiple platforms were standard for their company’s T&E management. Additional findings in “Multiple Policies, Multiple Processes” disclosed 56% felt the main benefit of an integrated and cohesive approach are the efficiencies gained from streamlining internal processes. AirPlus International provides savings to over 32,000 customers worldwide through a suite of business travel payment solutions which include central bill accounts, corporate cards and online management tools.

Details

Dynamic Card Solutions Announces 2009 Results

Reflecting an 88% increase in revenue when compared to the year ago period, 98 new “CardWizard” customers and an overall customer base growth to more than 520 financial institutions with installations across 5,500+ retail bank locations, Dynamic Card Solutions (DCS) announced its 2009 results. As an instant card issuance and PIN selection solutions for banks, credit unions and retailers that issue magnetic stripe, EMV and contactless cards, DCS is known for its “CardWizard” instant card issuance software and continues to help financial institutions improve their card programs by eliminating the delay, cost and risk of sending ATM, debit and credit cards through the mail.

Details

Cardtronics to provide ATM Processing for American Airlines

Cardtronics has entered into an agreement to provide ATM processing for
the American Airlines Center in Dallas.
American Airlines Center is the home of the
Dallas Mavericks NBA basketball team and the Dallas Stars NHL hockey
team. The arena hosts over 80 regular season basketball and hockey games
each year in addition to many more special events. American Airlines
Center consistently ranks in the top venues across the United States for
yearly ticket sales. Cardtronics will provide ATM transaction
processing and operational
support services for the six ATMs installed at American Airlines Center.
Cardtronics is scheduled to begin operating the ATMs starting on
February 1, 2010. In addition to processing the transactions for these
high-volume ATMs through its
company-owned electronic funds processing network, Cardtronics will also
provide management services for the ATMs, ensuring that guests of
American Airlines Center will always have access to an ATM while
attending any arena event.

Details

East West Bancorp has Appoints New VP/CFO

East West Bancorp has promoted Irene Oh to EVP/CFO.
Oh will be responsible for the Company’s finance, treasury, accounting,
secondary marketing, and investor relations functions.
Oh joined the Company in 2005 and served as Senior Vice President and
Director of Corporate Finance. A Certified Public Accountant, she began
her financial career in 1999 with Deloitte& Touche in Los Angeles and
spent two years with Goldman Sachs. Oh earned her Master of Accounting
from the University of Southern California. East West Bancorp is a publicly owned company with $20.6 billion in
assets and is traded on the Nasdaq Global Select Market under the symbol
“EWBC”. The Company’s wholly owned subsidiary, East West Bank, is the
third largest independent commercial bank headquartered in California
with 135 branches worldwide.

Details