Alliance Data Systems Corporation loyalty and marketing solutions appointed Charles L. Horn as executive VP and CFO effective December 7th. With extensive accounting experience, particularly in industries with complex accounting policies, and lengthy experience in the management and oversight of auditing and regulatory responsibilities, Horn brings with him a wealth of experience. Previously as CFO for two large publicly traded companies, he has been instrumental in taking the companies public, overseeing myriad acquisitions and re-financings, dividend recapitalizations, and a public debt offering. He has been a driving executive force behind Builders Firstsource, Pier 1, Conquest Industries, and he began his professional career as an audit manager for PricewaterhouseCoopers.Details
Catering to a world of increased global travel, Abbey International,
owned by Banco Santander, has partnered with Visa to make available its
suite of three cards for its clients, including Gold, Platinum and Visa
Infinite which are available exclusively to Abbey International Gold
current account holders. Offering an exclusive range of benefits
designed to Abbey International’s demanding brief, the Visa Infinite
card has been tailored to give clients enhanced levels of cover and
greater benefits, particularly for a wiser and more discerning
demographic, including an Airport Angel membership offering cardholders
access to over 400 airport lounges and a range of flight related
information services. The Abbey International Visa Infinite card is only
available to those Abbey bank account holders with at least GBP100k on
deposit and if there is over GBP250k in the account, all card membership
fees are waived.
American Express has appointed Ed Jay, previously with Thomson Reuters,
to Senior Vice President, American Express Business Insights.
Jay will lead American Express Business Insights, a line of business within the Global Merchant Services division, drawing on the power and reach of the Companyâs global network to help business customers develop better-informed strategies to grow their business. In his most recent position, Jay served as Global Head of Product Management and Development for the $2.4B Investment and Advisory division at Thomson Reuters. He will join the Senior Management Team of American Express Company and will report to Bill Glenn, President, American Express Global Merchant Services.
Prior to his tenure with Thomson Reuters, Jay successfully led information and consulting businesses including co-founding an industry leading strategy and technology professional services firm in Boston. American Express Business Insights provides a range of information offerings and consulting applications from identifying consumer spending trends to geographic expansion to improved marketing and advertising strategies.
Catering to a world of increased global travel, Abbey International, owned by Banco Santander, has partnered with Visa to make available its suite of three cards for its clients, including Gold, Platinum and Visa Infinite which are available exclusively to Abbey International Gold current account holders. Offering an exclusive range of benefits designed to Abbey International’s demanding brief, the Visa Infinite card has been tailored to give clients enhanced levels of cover and greater benefits, particularly for a wiser and more discerning demographic, including an Airport Angel membership offering cardholders access to over 400 airport lounges and a range of flight related information services. The Abbey International Visa Infinite card is only available to those Abbey bank account holders with at least GBP100k on deposit and if there is over GBP250k in the account, all card membership fees are waived.Details
Fiserv financial services technology solutions has launched its intriguing
vertical-format Visa card. The groundbreaking design option reflects all card
information vertically rather than horizontally, allowing issuers a new way to
showcase there logo. Among several innovations from Fiserv, the vertical design
puts a new, eye-catching spin on the traditional credit card. Other cutting edge
offerings from Fiserv include; “The Card Collection,” an exclusive offering of 78
card designs reflecting a broad range of lifestyle themes, money motifs and
regional images on a ‘pay-as-you-go’ ordering platform to eliminate inventory
carrying; “MyCardCreation,” making it simple and affordable for cardholders to
create cards with their own pictures on them; and “Contactless Cards,” allowing
for maximum convenience and speed with contactless payments. Output Solutions from
Fiserv is a leading provider of business-critical communications to the financial
services and retail markets to reinforce core competency in payments.
Fitch Ratings has not placed any additional U.S. credit card ABS transactions ‘Under Analysis’. Five hundred and thirty classes of U.S. credit card ABS transactions were designated with a SMARTView date of Nov. 25, 2009, indicating that performance has been reviewed and a rating action is not anticipated within the next 30 days. As Fitch receives monthly information on credit card ABS transactions from trustees and servicers, Fitch analysts run the data through various internal algorithms which identify classes of a transaction as possible candidates for upgrade or downgrade. Fitch’s analysts scrutinize the output to decide which deals need further review, which are noted as ‘Under Analysis’. Deals not selected for further review are given a SMARTView date indicating that the performance information has been reviewed as of that date. A transaction may also be designated as ‘Under Analysis’ when a review is undertaken because of a material event affecting the transaction or when a regular, more in-depth periodic review is being performed. While transaction performance is reviewed monthly, Fitch conducts detailed portfolio reviews at least annually.Details
The Conference Board Leading Economic Index (LEI) for the Euro Area
increased 0.9% in October to 101.4 (2004 = 100) following a 1.0%
increase in September and a 1.9% increase in August. Five of the eight
components contributed positively to the index in October while the
six-month growth rate slowed slightly in October. The Conference Board
LEI for the Euro Area has increased by 10.5% during 2009 after falling
more than 15.0% between June 2007 and December 2008. Meanwhile, The
Conference Board Coincident Economic Index for the Euro Area, a measure
of current economic activity, declined by 0.1% in October, falling to
101.6 (2004 = 100), according to preliminary estimates, after decreasing
by 0.2% in September and remaining unchanged in August. The rate of
decline for The Conference Board CEI for the Euro Area has slowed
substantially during the past six months. The eight components of The
Conference Board Leading Economic Index for the Euro Area include
Economic Sentiment Index; Index of Residential Building Permits Granted;
Index of Capital Goods New Orders; Dow Jones EURO STOXX Index; Money
Supply (M2); Interest Rate Spread; Eurozone Manufacturing Purchasing
Managers’ Index; and the Eurozone Service Sector Future Business
Activity Expectations Index.
A new PYMNTS report indicates that the reform of interchange fees could result in higher costs to consumers. David Evans, author and Founder of Market Platform Dynamics new report, entitled “GAO to Congress on Interchange Fee Regulation: Yellow Light”, suggests that if interchange fees are reduced for merchants, consumers could pay higher fees for cards and their rewards could be slashed. Evans states, that â[t]here is nothing that suggests that consumers overall will benefit from interchange fee caps.â PYMNTS.com is a joint venture between Business Wire, a Berkshire Hathaway Company, and Market Platform Dynamics. It provides a platform for industry professionals to share content related to their latest company and product developments, to tap into the collective commentary and analysis from experts, bloggers and industry pundits, and to interact with industry thought leaders on topics of critical importance to the future of the sector.Details
The Federal Reserve has rolled out a public service ad campaign to
advise smart use of credit cards by consumers this holiday season.
The advertisements will appear before movie previews at 12 highly
attended theaters in major metropolitan areas from November 27 through
December 3. The ads provide tips for getting the most from credit cards,
including paying on time, staying below the card’s credit limit,
avoiding unnecessary fees, paying more than the minimum payment, and
watching for changes in account terms.
A new report from Aite Group examines the opportunity that exists for financial institutions
and the growth opportunities for small-business credit cards. The U.S. small-business segment, comprised of more than 20 million
businesses, represents a large opportunity for financial institutions.
While most banks recognize this, the main challenges for many
institutions are determining how to win business from this group, and
which products will result in the greatest return on investment. Aite
Group believes that small-business credit cards offer significant return
to financial institutions. In fact, if small-business credit card
spending increased from its current 4% market share to 14%, Aite Group
estimates that interchange revenues from small-business credit card
usage would increase more than 300%, or to more than US$10 billion.
With 40% of Irish consumers in possession of a credit card, they are the
most disgruntled when it comes to the state of their banks. As the
world’s third-highest spenders on their credit cards, behind only the
Americans and the South Koreans, 41% of the Irish wished they had spent
more frugally over the past few years while 5% considered the past few
years as a reason to completely distrust banks. This, according to
research from Mintel, also shows the main credit cards specific to
Ireland include the AIB (Allied Irish Banks), Bank Of Ireland and Ulster
Bank and a few global providers offer a variety of uniquely Irish credit
card, such as MBNA.
O Bee Credit Union and WA-based merchant account service provider
FastTransact have partnered to bring credit card processing of
charity donations to a financial institution’s web site.
Teaming up with FastTransact made it
possible for O Bee to set up a single point of collection for the
Thurston County and Tenino Food Banks and United Way of Thurston County.
What is unique about our website is that the monies collected are
deposited directly into the non-profit accounts, so donations can be tax
deductible. Contributors can use any institution’s Visa or MasterCard
credit cards or Visa debit cards. O Bee Credit Union (The Olympia Brewing Company Employees and Families
Credit Union) is a full-service, non-profit credit
union owned by its members is now open to all Washington residents.
FastTransact offers a unique collection
of merchant account services throughout the US and Canada, including
everything from retail equipment, to POS hardware/software, to
secure and high performance Internet gateways.